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2021/07/26 Market Chat

Authored by ZanderVanDerMerwe
26.07.2021
Market Commentary
0
2 min

The last week of July is sure to be a volatile month as there are some high impact data set to be released during the week with a major focus being placed on the FOMC statements coming out Wednesday night. Last week was a positive week for the markets as we saw US equities rally as the Nasdaq and S&P broke to make new all-time highs on Friday, European equities also recovered well as the Dax and FTSE edged higher during the week, however still trading below their recent highs.

Gold remained range-bound before the FOMC as the market consolidates before the Feds statements that were the biggest market mover last month, Silver sold off substantially the beginning part of last week but stabilised the latter part of the week as it gears up for FOMC. Brent Crude recovered well last week following a low it made of $67 to close the week off on $73.50.

The Crypto market opened up well this morning as it rallied substantially following months of consolidation, Bitcoin is currently trading just shy of $39 000 and Ethereum is currently trading just below $2400. The possible increase in buying power might very well be due to Ethereum undergoing an improvement to its block chan that is due at the start of next month.

As the markets opened up this morning in the European session the Swiss Franc and Yen are currently the strongest currencies as the safe-haven currencies gain strength while the commodity pairs lose value during the European open this morning that saw the Australian, New Zealand and Canadian Dollar weakened against the safe-haven currencies.

Monday (SAST)
10:00 am - German ifo Business Climate (EUR)
1:00 pm - MPC Member Vleighe Speaks (GBP)

Tuesday (SAST)
9:30 am - BOJ Gov Kuroda Speaks (JPY)
4:00 pm - CB Consumer Confidence (USD)

Wednesday (SAST)
3:30 am - CPI q/q (AUD)
2:30 am - CPI m/m (CAD)
8:00 pm - FOMC Statement (USD)
8:30 pm - FOMC Press Conference (USD)

Thursday (SAST)
2:30 pm - Advanced GDP q/q (USD)

Friday (SAST)
2:30 pm - GDP m/m (CAD)
- Core PCE Price Index m/m (USD)

Authored by ZanderVanDerMerwe
26.07.2021
Market Commentary
0
2 min

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