Markets await Nvidia results – What will the greenback do from here?
Important news for the day
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Wed, 28th, 03:30 CET AU Consumer price index.
Stock markets
Equities start to falter slightly as markets await the news from Nvidia today. In general a strong positive outlook for the current quarter is being expected, with a potential rise in revenue of 70%. After the strong rebound in stock markets in recent weeks further profit taking might follow. Markets have remained flat throughout the day so far. This view might also be supported by a potentially stronger Dollar. Should the Greenback rise, equities often turn lower.
Market talk
The EUR has been gearing up steam and is currently trading at the highest within the past two years. Towards the month end, though, there could be time for a correction. The US- Dollar might gear up some steam as a coming rate cut could be priced- in. Furthermore precious metals start to correct slightly, which could be a preview of USD strength. Markets still remain within their current uptrend on the other hand. Negative sentiment comes from the crypto market. Bitcoin is trading back below the USD 60,000 level and looks set to fall further should the support level at USD 57,500 be broken, too.
Tendencies in the markets
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Equities sideways, USD weak, cryptos weak, oil weak, metals weaker, JPY stronger.
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