Frank Walbaum
FX Strategies.Asia
Important News for the week
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Mon, 16th, various - PMI data all day.
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Tue, 17th, 14:30 CET CA Consumer prices index.
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Wed, 18th, 08:00 CET UK Consumer prices index.
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Wed, 18th, 20:30 CET US FOMC interest rate decision.
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Thu, 19th JP BoJ interest rate decision.
Trump crypto
Trump’s World Liberty Financial is seemingly starting to buy digital tokens. The project has been promoted by his family members. It is being said that “several millions” of tokens had been acquired according to Bloomberg. The move also aims to start a decentralized finance lending platform.
Market talk
The Dollar is resuming the week with slight strength. The USD- index is set to rise and might break above the technical resistance area of 107.00. Higher levels might point to a technical breakout n the index leading to further strength in the Greenback. Furthermore, indices resumed the recent upside with no weakness in sight. The Nasdaq and S&P 500 indices show positive signs ahead. Vice versace precious metals confirmed a technical resistance area. It seems that Gold and in particular Silver will start to weaken for now. Silver currently trades near the psychological USD 30.00 zone, which could hold the market up from falling further. A break of such level migh indicate more selling pressure.
Tendencies in the markets
- Equities sideways, USD stronger, cryptos mixed, oil sideways, Silver weak, Gold weak, JPY weak.
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Bitcoin breaks all-time high above $106,000, triggers nearly $120 million in liquidations
Bitcoin hit a record high above $106,000 on Monday, after recent developments on President-elect Donald Trump’s strategic Bitcoin reserve and demand from institutional traders.
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GBP/USD gathers recovery momentum and trades above 1.2650 on Monday, supported by the UK PMI data that showed that the private sector continued to grow in early December. The US economic docket will feature flash PMI readings for December.
Gold price sticks to modest intraday gains above $2,650 amid mixed cues
Gold price stages a modest recovery from a one-week trough touched earlier this Monday, albeit it lacks follow-through buying and currently trades around the $2,655 region.
Can markets keep conquering record highs?
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