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.
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