Dollar strength fading while equities start to rise again

Frank Walbaum FX Strategies.Asia

Important news for the day

Fri, 25th, 14:30 CET CA Retail sales.

US judges

As markets near the end of October, potential profit-taking could keep stocks volatile. The upcoming U.S. election might also impact sentiment. According to a Bloomberg poll, a majority of American voters lack confidence in the Supreme Court, with six of its judges appointed by Republicans. Among both major political groups, at least 25% feel “not at all” confident, a sentiment even stronger among supporters of Vice President Harris.

Market talk

The Dollar’s strength took a slight hit towards the end of the week, with Thursday’s trading ending on a negative note. It appears the bearish sentiment may extend into next week, though the Dollar's overall trend remains positive. Precious metals are also moving lower after last week's strong performance, with Silver showing more downside potential than Gold according to chart patterns. Equities continue to dip, but yesterday’s positive momentum might carry into the weekend, potentially sustaining further upside.

Tendencies in the markets

Equities sideways, USD weaker, cryptos sideways, oil weaker, metals weaker, JPY weaker.

Author

Frank Walbaum

FX Strategies.Asia

Frank has been working in the TV business for several years. Acquiring his skills in Germany’s biggest broadcasting station, he then chose to work and live in Asia, which was in 2007.

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