Equities recover despite China worries [Video]
|The Evergrande debt crisis, the Chinese energy crackdown on missed targets and the ban on cryptocurrencies have been shaking the markets, along with Federal Reserve’s (Fed) more hawkish policy stance last week, and not only on its QE taper front but also regarding the interest rates.
Natural gas futures rebound fast from last week’s dip and should continue rising as the winter approaches. US crude traded it above the $75 per barrel in Asia for the first time since July.
Despite discouraging news on the wire, US and European futures traded mostly in the positive hinting at some more consolidation in equities at the start of the week.
In Germany, SPD party is ahead of outgoing Angela Merkel’s Christian Democrats. An SPD-led coalition in Germany is quite bearish for the DAX, but there is no particular sign off stress on DAX which recovers last week’s losses this Monday.
Finally, the impact of the latest Chinese news on Bitcoin’s price was significant but not dramatic as the $40K support held well during the kneejerk drop and during the weekend.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.