Dale J Pinkert
Independent Analyst
In today's live stream,Mike Venezia talked about managing his book while away. He was back in the saddle shorting some oil related equities. Coach asked Mike about Ukraine/Russia he said "Just Trade The Charts!"
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AUD/USD consolidate amid mixed cues; upside potential seems limited
AUD/USD struggles to capitalize on the previous day's goodish rebound from its lowest level since August 8 and oscillates in a range during the Asian session on Thursday. The RBA's hawkish stance, signs that China's big stimulus push is helping improve business conditions and the prevalent risk-on mood lend some support to the Aussie.
USD/JPY holds steady near multi-month top; seems poised to climb further
USD/JPY enters a bullish consolidation phase after the previous day's rally to its highest level since July 30 amid speculations that Japanese authorities might intervene to prop up the domestic currency. However, the BoJ rate-hike uncertainty, along with the recent surge in the US bond yields, should cap the upside for the lower-yielding JPY.
Gold price hangs near three-week low; seems vulnerable to slide further
Gold price ticks higher during the Asian session, albeit it lacks bullish conviction and remains close to a three-week low touched on Wednesday. The optimism about future economic growth under the new Trump presidency remains supportive of the upbeat market mood.
What's next for Bitcoin and Crypto industry following Trump's victory in US Presidential election
The 2024 US presidential election ended with pro-crypto advocates leading the House of Representatives, the Senate, and Donald Trump as the president-elect. The results stirred massive celebration across the crypto industry, with Bitcoin and the crypto market rallying following Trump's win.
Trump wins: Tax cuts come with a cost
Donald Trump’s victory will ensure a lower tax environment that should boost sentiment and spending in the near term. However, promised tariffs, immigration controls and higher borrowing costs will increasingly become headwinds through his presidential term.
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