Important News for the day.
-
Wed, 05th, 14:15 CET US ADP employment change.
-
Wed, 05th, 16:00 CET US ISM services PMI.
US politics
A leading indicator in financial markets comes from the chemical industry. Current data shows, that the sentiment remains extremely negative, potentially indicating further negative momentum. the IFO business climate index also weakened. To some extend exports to the US have been brought forward to prevent the tariff burden, which is expected to come.
Market talk
After initial strength of the Dollar earlier this week, the Greenback seems to lose further momentum. The potential impact on new tariffs might harm the Dollar as traders offload their positions. This had initially also caused stock markets to weaken whereas they now show signs of potential strength. The S&P 500 and also the NASDAQ indices remain in a sideways pattern, potentially ready to bounce higher again. Furthermore with the positive risk sentiment also crypto markets started to moved higher again. The weakness of the Dollar also helps Gold and Silver to rise, whereas oil prices remain bound for lower levels.
Tendencies in the markets
-
Equities negative, USD weak, cryptos weak, oil weak, Silver sideways, Gold positive, JPY stronger.