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topicnews · October 25, 2024

The dollar’s strength is fading as stocks begin to rise again

The dollar’s strength is fading as stocks begin to rise again

Important news for this day

  • Fri 25th 2:30pm ET CA Retail Sales.

US judge

As markets approach the end of October, potential profit-taking could keep stocks volatile. The upcoming US elections could also have an impact on sentiment. A majority of American voters lack confidence in the Supreme Court because six of its justices were appointed by Republicans, according to a Bloomberg poll. Across both major political groups, at least 25% are “not at all” confident, a feeling that is even more pronounced among Vice President Harris’s supporters.

Market talk

The dollar’s strength took a slight hit towards the end of the week and Thursday’s trading ended on a negative note. It appears that the bearish sentiment could continue into next week, although the dollar’s overall trend remains positive. Precious metals are also moving lower after last week’s strong performance, with silver showing more downside potential than gold according to chart patterns. Stock market prices continue to fall, but yesterday’s positive momentum could continue into the weekend, potentially driving further upside.

Trends in the markets

  • Stocks sideways, USD weaker, Cryptos sideways, Oil weaker, Metals weaker, JPY weaker.

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