Equities rise, Dollar weakens and metals rock
Important news for the day
Tue, 20th, 14:30 CET CA Consumer price index.
Risk sentiment
Equity markets continue with positive momentum. As the Fed is expected to decrease rates in September also the Dollar remains weak. A rising AUDUSD currency pair also helps to cause positive momentum in general markets.Furthermore the price of Silver seems to follow the positive moves in Gold. The previously discussed trust issue in governments might be underlined here further. In terms of geopolitical tensions the oil market might give us further insights. Should a cease- fire be brokered these days also the price of oil might turn down.
Market talk
The weakness of the JPY is being resumed today. The USDJPY currency pair continues to trade on top of the important support zone. The long term trend of declining prices, however, is still intact and might continue soon. AUD and NZD crosses might offer interesting alternatives in the meantime. The EURAUD and EURNZD pairs offer negative momentum based on weekly charts. Our downside bias from last week could be due to continue.
Tendencies in the markets
Equities positive, USD weak, cryptos positive, oil weak, metals strong, JPY weak.
