Frank Walbaum
FX Strategies.Asia
Important news for the day
- Tue, 27th, 16:00 CET US Consumer confidence.
Market news
Stock markets might face an increase in volatility especially in the tech sector later this evening. Nvidia will report their recent figures and this might add momentum, depending on their outlook. This could also be of impact for the broader market give the importance of the corporation. The “magnificent Seven” had lost some momentum yesterday, leaving general markets in sideways territory so far this week. Potential further news might cause profit-taking to continue.
Market talk
The weakness of the Dollar tok a breezer but might continue these coming days. il prices steadied further after the strong support level holds the price from falling further. Geopolitical tensions and the end of the month might call for more upside potential here. Metals remain muted with Silver and Gold not moving much. Silver in particular might remain near current levels, which would indicate a strong bullish reversal candlestick pattern towards the end of August, indicating further upside in September potentially. Stock markets might follow the recent trend but haven’t done much currently. Short term a retracement might be on the cards.
Tendencies in the markets
- Equities sideways, USD weak, cryptos sideways, oil strong, metals sideways, JPY stronger.
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