Crypto with strong gains amind Dollar weakness

Important News for the day

• Thu, 14th, 08:00 CET UK Gross domestic product.

• Thu, 14th, 14:30 CET US Core Producer price index/Unemployment claims.

US consumer prices

US consumer prices have shown that number came down again. Despite being expected at 2.8% the data came in slightly cooler. On the other hand, inflation remains above the 2% level. Jerome Powell might hence remain stubborn and not cutting rates anytime soon. Currently stock markets remain resilient and continue to push higher. Potentially rising prices might also occur due to the expectation that the Fed will eventually cut rates. Today’s producer price index might also offer further insights in particular in regards to the implementation of the tariffs.

Market talk

While the GBP continues to push higher the EUR and AUD remain in a sideways pattern against the Dollar. The trend in the Dollar Index remains weak and does not offer positive momentum for now. Yet, technical levels based on the monthly chart suggest that further upside remains on the cards. Worth noting that the positive risk sentiment in particular in the crypto space remains strong. Bitcoin is pushing higher and ETH keeps creating new highs on a daily basis. Also Solana among other tokens look strong as the Altcoin season is in full swing. On the other hand, oil prices continue to push to the downside while Silver and Gold remain stable.

Tendencies in the markets

• Equities positive, USD weak, Bitcoin positive, ETH strong, oil weaker, Silver sideways, Gold sideways, JPY stronger.