There are some compelling arguments on the market that the disappointing ASML orders haven’t got a read-through to AI chipmakers as ASML’s miss is one chips associated to the true economic system, like autos. We all know that is weak however Nvidia is buying and selling on a special theme and did not deserve the 5% decline yesterday.
I can see that argument however this market is buying and selling on momentum, not essentially fundamentals.
In the meantime, market sentiment is a bit frothy and it feels just like the election nerves are going to ramp up from right here.
This text was written by Adam Button at www.forexlive.com.
