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A world of Trading assets

2021/08/19 Market Chat

Authored by ZanderVanDerMerwe
19.08.2021
Market Commentary
0
2 min

The focus for yesterday was very much on the FOMC meeting minutes that were released. There was a lot of reference to tapering which was expected and for the committee to prepare for a reduction in asset purchases in the imminent future. There is still some room for improvement with regards to the labor market as it hasn’t made significant further progress as of yet. The result from the potential tapering coming into effect is that US indices sold off aggressively, with some more potential downside to consider once the Fed releases some more detail in the Jackson Symposium or during the next FOMC meeting.

Brent Crude was the biggest mover from the commodity point of view as it declined from $69.70 to $66.23 at the point of writing. The precious metals remain consolidating at the moment as no clear movement has taken place, Gold is currently trading at $1780 while Silver is trading at $23.26 at the bottom of its daily range.

Bitcoin and Ethereum are consolidating following the positivity we received from the London Fork, with no clear momentum shift just yet Ethereum is currently trading trading just shy of $3000 while Bitcoin is trading at $44 300.

As the European markets upended up the Japanese Yen, Australian Dollar and Swiss Franc are currently the strongest currencies while the Pound, Canadian Dollar and New Zealand Dollar are currently the weakest currencies.

Authored by ZanderVanDerMerwe
19.08.2021
Market Commentary
0
2 min

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