Political turmoil, Bitcoin and the Dollar

Frank Walbaum FX Strategies.Asia

Important news for the day

Thu, 04th, 14:30 CET US Unemployment claims.

French politics

In France, much like South Korea, political turmoil continues as widespread protests and strikes persist over contentious government reforms. Public dissatisfaction with leadership decisions has fueled tensions, adding pressure to the administration amidst growing social unrest. The situation has been exacerbated by a lack of dialogue between the government and opposition groups, leading to a political deadlock. This ongoing unrest risks slowing economic recovery and undermining public trust in the nation's leadership.

Market talk

Risky assets remain in favour as general market momentum stays positive. The EUR and the GBP keep pushing to higher levels, whereas the AUD seemingly remains capped. Recent disappointing data might pave the way, here. Bitcoin had finally pushed beyond the USD 100k level with positive sentiment still in place. After such strong gains the odds of a bigger correction might be in play, soon. Similarly, XRP keeps pushing higher and might also offer some extended potential for a bigger correction.

Tendencies in the markets

Equities positive, USD mixed, cryptos positive, oil weaker, Silver positive, Gold sideways, JPY sideways.

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.

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