Frank Walbaum
FX Strategies.Asia
Important news for the day
- Fri, 27th, 14:30 CET US Core PCE price index.
China rally
Stock markets globally continue to show positive sentiment and rise further. Markets look bullish since the stimulus package from China seems the main driver behind the positive move. However, headwinds might come from the ECB with statements from Isabel Schnabel saying that she is concerned about the economic outlook in the Eurozone. In general thought the German DAX index continues to move higher after showing strong gains yesterday. Also cyrptos are able to move higher led by the positive sentiment in general.
Market talk
The Dollar has resumed trading stronger this morning but seems to lose some steam for now. Precious metals might be influenced and continue with slight losses as in particular the Silver market is heading slightly lower. Worth noting that oil seems to run to the downside as well, whereas the weekly chart is still trading on top of the current wide support zone. The Japanese Yen is coming back finally after losses last week. Potentially time to celebrate with a Toki Whisky from the Suntory group.
Tendencies in the markets
- Equities strong (be careful about a potential correction), USD stronger, cryptos positive, oil weak, metals sideways, JPY weaker.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This Webinar is purely for information purposes. Transactions or orders are for illustrative purposes only and should not be copied by traders. The content has been carefully compiled. However, no liability can be accepted by FX Strategies. Asia and under no circumstances should this material replace a consultation with a certified financial, investment or investment advisor in terms of their accuracy. Further information on our risk warnings can be found on our website under fxstrategies.asia.
Recommended Content
Editors’ Picks
EUR/USD recovers to 1.1150 ahead of US PCE inflation data
EUR/USD is recovering losses to trade near 1.1150 in European trading on Friday. The pair trims softer French and Spanish inflation data-led losses amid a cautiously optimistic market mood and a wobbly US Dollar, as US PCE inflation report looms.
GBP/USD keeps losses below 1.3400, awaits US PCE data
GBP/USD is off the lows but stays pressured below 1.3400 in the European session on Friday. A modest US Dollar uptick and a mixed market sentiment remain a drag on the pair. The focus now shifts to the high-impact US PCE inflation data for fresh impetus.
Gold price pulls back from record high ahead of US PCE Price Index, bullish bias remains
Gold price attracts some sellers on the last day of the week and retreats further from the all-time peak, around the $2,685-2,686 region touched on Thursday. The downtick is sponsored by the emergence of some US Dollar buying, which tends to undermine demand for the commodity.
US core PCE set to show continued disinflation trend, reinforcing Federal Reserve easing cycle
The core Personal Consumption Expenditures Price Index is seen rising 0.2% MoM and 2.7% YoY in August. Markets have already priced in near 50 bps of easing in the next two Federal Reserve meetings. A firm PCE result is unlikely to move the Fed’s stance on policy.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.