Frank Walbaum
FX Strategies.Asia
Important news for the week
-
Tue, 06th, 06:30 CET AU RBA interest rate decision.
-
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
-
Equities weak, USD weak, ETH at support, oil weak, Gold positive, Silver positive, JPY stronger.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This Webinar is purely for information purposes. Transactions or orders are for illustrative purposes only and should not be copied by traders. The content has been carefully compiled. However, no liability can be accepted by FX Strategies. Asia and under no circumstances should this material replace a consultation with a certified financial, investment or investment advisor in terms of their accuracy. Further information on our risk warnings can be found on our website under fxstrategies.asia.
Recommended Content
Editors’ Picks
Australian Dollar extends gains despite mixed PMI
The Australian Dollar (AUD) continues to strengthen against the US Dollar (USD) following the release of mixed Judo Bank Purchasing Managers' Index (PMI) data from Australia on Friday. The AUD also benefits from a hawkish outlook by the Reserve Bank of Australia (RBA) regarding future interest rate decisions.
Japanese Yen fails to build on stronger CPI-led intraday uptick against USD
The Japanese Yen (JPY) attracted some follow-through buying for the second successive day following the release of slightly higher-than-expected consumer inflation figures from Japan. This comes on top of Thursday's hawkish remarks from BoJ Governor Kazuo Ueda, which keeps expectations for a December interest rate hike in play.
Gold price advances to near two-week top on geopolitical risks
Gold price touched nearly a two-week high during the Asian session as the worsening Russia-Ukraine conflict benefited traditional safe-haven assets. The weekly uptrend seems unaffected by bets for less aggressive Fed policy easing, sustained USD buying and the prevalent risk-on environment
Ethereum Price Forecast: ETH open interest surge to all-time high after recent price rally
Ethereum (ETH) is trading near $3,350, experiencing an 10% increase on Thursday. This price surge is attributed to strong bullish sentiment among derivatives traders, driving its open interest above $20 billion for the first time.
A new horizon: The economic outlook in a new leadership and policy era
The economic aftershocks of the COVID pandemic, which have dominated the economic landscape over the past few years, are steadily dissipating. These pandemic-induced economic effects are set to be largely supplanted by economic policy changes that are on the horizon in the United States.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.