Risk-off Momentum is Brewing | BDSwiss Market Moves on MT4

-ECB Actions Currently, the European Central Bank won’t raise interest rates further according to their statements. Unless there are major surprises, rates will remain the same and might be reduced at some point in 2024 as member of the governing council Francois Villeroy de Galhau pointed out. However, a discussion to decrease rates is not on the table any time now as this might be a topic for next year. The EUR has increased in value in recent weeks but is currently losing momentum in particular against the Greenback. After having retested the psychological resistance zone, the market might now be on track to move lower again. -EU Act The European Union is preparing an act for the use of artificial intelligence. A set of controls is meant to be in place to generate content with the use of software like Open AI’s ChatGPT or Google Bard. The EU will be the first government outside of Asia to implement strict rules. The plan also contains information on how developers would use copyright information, how their models would be trained and that AI-generated content would need to be labelled as such. Currently, prices of companies like NVidia are losing some momentum after having grown substantially this year. -SpaceX The most valuable US startup is evaluating whether it will sell its inside shares. Based on the current discussion, it is said that it would be valued at about USD 175 billion and the sales price could range between USD 500 million to USD 750 million. The price per share could be about USD 95 per piece. -Market talk The US- Dollar is gearing up steam further and with that seemingly stock markets seem reactive. Equities have risen again this week to fresh highs, with in particular the German DAX (GER_40) having created a new all-time high. Currently, markets seem proceeding to the downside and might lose momentum for now. Worth noting that also oil has lost steam and is currently trading near the USD psychological support zone. This might call the OPEC for some joint action anytime soon, should prices not run higher at some point. On the other hand crypto markets continue to be well-bid and the JPY continues to trade steady against all other currencies.- Check the UPCOMING WEBINARS here: • Download the BDSwiss iOS app: • Download the BDSwiss Android app: • Join our Telegram Channel: • Like us on Facebook: • Follow us on Twitter: • Follow us on LinkedIn: • Follow us on Instagram: • Subscribe to our Channel: Your capital is at risk. T&Cs apply.