Gold to the moon?
Important News for the day
Current affairs
With only limited data on the economic calendar this week, financial markets continue to focus on a potential recession in the US as well as geopolitical tensions. Several politicians from around the World will also take part at the funeral of Pope Francis. Whether this might help easing tensions could be debated, though! After the Easter holidays season oil prices start to resume some potential upside and Gold prices remains shining bright.
Market talk
US indices continue to push to lower levels. After the recent slide in prices of the S&P 500 the recovery had ended just below the 50- moving average based on the weekly chart. Will hence the current selloff gear up more momentum? As US markets remain rather expensive the current negative move might be due to continue. In contradiction the German DAX remains stable and might move higher if a trigger can be found. Similarly also European shares remain well- bid and also the AUDUSD continues to push higher. The massive candlestick pattern based on the monthly chart might offer positive momentum, should it find a close towards the month- end. Te current bear market might find an end anytime soon, unless further negative headlines continue to pull markets lower.
Tendencies in the markets
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Equities mixed, USD weak, cryptos positive, oil positive, Silver sideways, Gold positive, JPY stronger.
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.
