New highs for DAX and Bitcoin
|With investors moving into risky assets, we have seen fresh highs for the likes of the DAX and Bitcoin. Meanwhile, with the negative prospects for Brexit negotiations continuing to knock confidence, a weak pound remains positive for FTSE valuations
-
DAX and Bitcoin hit new highs
-
Brexit deadlock drives sterling lower
-
US banks kick off Q3 earnings season
Investors in both traditional and non-traditional markets have enjoyed the benefits of an improved risk appetite, with Bitcoin breaching $5000 and the DAX hitting 13,000 for the first time. Interestingly, despite improved attitudes to risk, we are also seeing gain for the likes of gold too.
The continued ascent of the FTSE has had much to do with the negative effect of the disjointed Brexit negotiations, with daily updates seemingly highlighting just how unsuccessful the initial rounds of talks have been. The current ‘deadlock’ shows little signs of being broken, with both sides unwilling to budge in their stance and combative positions. As time ticks on, the chance of a hard Brexit are heightened.
US third-quarter earnings season is underway today, with banks grabbing centre stage. Earnings data from JPMorgan and Citigroup saw profits rise once again, despite challenging bond trading conditions leading revenue lower for the quarter. Rising rates are no doubt going to be a big determining factor in profitability, with the retail section of the industry proving increasingly lucrative.
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.