Frank Walbaum
FX Strategies.Asia
Important news for the day
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Wed, 11th, 08:00 CET UK Gross domestic product.
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Wed, 11th, 14:30 CET US Consumer price index.
US TV- debate
Yesterday, both presidential candidates presented themselves in a TV debate. According to polls the odds for Kamala Harris to potentially win the election have improved. Talks went from US- China relations to immigration policies and in the end chances for a win for the Democrats have improved. Stock markets remained relatively calm and also the Dollar has not shown significant momentum today.
Market talk
Worries about the economy in general remain a big driver for financial markets for now. Today’s consumer prices index might hence also offer further information on this matter. Rising prices usually slow demand, where as the focus has shifted for now. The impact on the labor markets can already be seen and the Fed might start to counteract soon. Worth noting that the JPY has resumed its strength against most other currencies.
Tendencies in the markets
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Equities positive, USD stronger, cryptos weak, oil sideways, metals positive, JPY stronger.
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