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A world of Trading assets

2021/08/23 Market Chat

Authored by ZanderVanDerMerwe
23.08.2021
Market Commentary
0
2 min

The markets managed to close the week out positively, as we saw the Nasdaq, Dow and S&P all close the day higher, recovering a substantial amount of the week’s selloff. Investors remain vigilant in the bull market as vaccination rates continue to increase despite the Delta variant risk. The European markets followed suit as the US Indices dragged the Dax and FTSE higher.

The precious metals remain stable as both Gold and Silver consolidate around important levels with the impending Jackson Hole Symposium coming up on Thursday. A vast majority of Economists are in speculation surrounding tapering set to be hinted at during the event. We might very well get a hint at Mortgage-Backed Securities that might be tapered however focus will still be on next months FOMC.

The crypto market has gained traction again following the London Fork, Bitcoin and Ethereum opened up well for the week as both made recent highs however both alternative assets are still some way off their previous highs.

The focus for the week will be on the Jackson Hole Symposium as we could see substantial US Dollar strength if there is some consensus surrounding asset purchases tapering. Currently, the Australian Dollar, Swiss Franc and Canadian Dollar are the strongest currencies post-European Open, the US Dollar and Japanese Yen are currently the weakest currencies.

Authored by ZanderVanDerMerwe
23.08.2021
Market Commentary
0
2 min

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