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2021/08/13 Market Chat

Authored by TD Markets
13.08.2021
Market Commentary
0
2 min

Positivity ran throughout the markets as US and European Indicies continue to edge higher as PPI came out extremely positive as it increased by 1% from last month, which is the highest it has been in the last decade, for the year PPI is up 7.8%. This should be an indication that inflation is set to continue to rise, making the CPI figures that were released this week an outlier as they came in on expectation of 0.5% seeing and have inflation stabilise on 5.4%.

The commodity market remains stable following last week’s strong unemployment figures and Monday’s selloff. Gold is back to where the market closed out last week at $1750, silver remains stable around Monday’s close and Brent Crude is holding above last week’s close.

There was some profit-taking on the cryptocurrencies yesterday, however, during this morning’s Asian session the yesterday’s losses were all but erased. Bitcoin and Ethereum are currently trading at $46 100 and $3200 respectively at the time of writing.

The Japanese Yen is currently the strongest currency as the European market open opened up with a lot of the major currencies neutral going into the Friday morning session, however, the Swiss Franc is currently the strongest currency. There could be some more US Dollar strength based on how the Consumer Sentiment comes out later this afternoon.

Authored by TD Markets
13.08.2021
Market Commentary
0
2 min

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