Frank Walbaum
FX Strategies.Asia
Important news for the day
- Thu, 26th, 09:30 CET CH Interest rate decision
SNB interest rate decision
Today the Swiss National Bank has decided upon their interest rate moving forward. We had been anticipating that rates would be lowered and after the news the Swiss Franc might depreciate as well. Especially the slight returning strength of the Dollar caused the Swissy to lose steam against the Greenback causing the currency pair to move higher. Currently the market remains sideways though without major momentum in any direction.
Market talk
General moves in markets have changed direction. After the new round of stimulus in China the market sentiment in Asia remains mixed. Especially the stronger Dollar causes the risk sentiment to be muted. Losses might be expected as also the AUD is heading lower after previously rising to higher levels. A technical resistance area might cause the market to weaken potentially offering negative momentum ahead. After the recent push higher in the crypto space BTC and ETH remain sideways. Some general saturation seems to be the case. The uptrend in Silver and Gold seems to be intact, however, some corrective pattern might also happen here.
Tendencies in the markets
- Equities sideways, USD stronger, cryptos weaker, oil weak, metals sideways, JPY weaker.
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