Important News for this day
-
02nd, 14:15 CET US ADP employment change.
Liberation day
President Trump is expected to drastically increase tariffs today. Regardless of whether they are intended as a means of exerting pressure on other countries or are actually intended to support the US economy in the long term, they could initially be a burden for Americans. Prices are expected to continue to rise. The countries with the largest trade imbalances are expected to be hit first. It will be interesting to see how this could help boost productivity in the US rather than just raising prices.
Market talk
Markets continue to trade with slight positive risk momentum. Most US indices hold steady around the 50- moving average and might continue to rise for now. Oil prices remain above the 50- moving average based on the daily chart. Any retracement to the downside might be taken into fresh buy positions as the monthly candlestick pattern confirms. Upside might be limited based on the current economy development but fueled by geopolitical tensions. Worth noting that also crypto makes continue to trade slightly higher with the general lift in markes.
Tendencies in the markets
-
Equities sideways, USD mixed, cryptos positive, oil positive, Silver positive, Gold sideways, JPY stronger.
Reprinted from FXStreet，the copyright all reserved by the original author.
Disclaimer: The views expressed are solely those of the author and do not represent the official position of Followme. Followme does not take responsibility for the accuracy, completeness, or reliability of the information provided and is not liable for any actions taken based on the content, unless explicitly stated in writing.
Leave Your Message Now