Frank Walbaum
FX Strategies.Asia
Important news for the week
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Tue, 06th, 06:30 CET AU RBA interest rate decision.
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Fri, 09th, 14:30 CET CA unemployment rate.
Selloff continues
The selloff in the equity market continues. With that the volatility keeps rising sharply as well during the first days of the trading week. Fresh worries about the US economy might be one reason why investors want to offload their shares. Sales off Apple stocks made by Buffett's Berkshire Hathaway could add to the pressure. Figures on Saturday stated that the investment house sold about half of its stake in the company. The Nasdaq 100 index lost as much as USD 2 trillion in valuation in the past three weeks. The index currently trades right on top of the 50- moving average based on the weekly chart. Further declines might be hence on the cards.
Market talk
Despite the strong selloff in the equity market the Dollar remains weak. The Dollar index is losing momentum. However, the AUD has weakened in early trading hours today and is currently rising again. This might indicate potential positive momentum in the coming days. Also the crypto market has gone to the downside. Ether fell below the USD 2,100.00 zone but is currently starting to retrace higher again. The current support area might hold causing the market to run higher. P
Tendencies in the markets
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Equities weak, USD weak, ETH at support, oil weak, Gold positive, Silver positive, JPY stronger.
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