Frank Walbaum
FX Strategies.Asia
Important news for the day
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Thu, 10th, 14:30 US Core consumer prices index/unemployment claims.
Economic data
The Ifo- data for the chemical industry from Germany had followed negative this month with the figure coming in at -13.6, compared to the reading of -6.1 last month. The business expectation Ifo data had fallen to -17.8, showing the worst data since the first quarter this year. In the US the expectation that the Fed will cut rates further has fallen as bond data shows. Yields for 10- year bonds rose by nearly 0,5% in recent weeks and currently trade at 4,07%. Vice versa bond prices continue to fall again, which recently caused equities to fade.
Market talk
Positive sentiment in the equity sector returns and markets broke out to higher levels. The S&P 500 looks like it might continue with the fresh upside momentum. Also indices in China have geared up steam, followed by the Hang Seng index from Hong Kong. In Japan, though, the market retraced to lower levels again. The EUR, GBP and AUD have all ended yesterday’s trading in the red and lost steam towards the Greenback. The Dollar looks like it will remain stronger as the Dollar index continues to rise.
Tendencies in the markets
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Equities positive, USD stronger, cryptos weaker, oil sideways, metals sideways, JPY weaker.
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