Gold runs lower – Bitcoin above USD 80.000 for the first time
Important news this week
- Wed, 13th, 14:30 CET US Consumer price index.
- Thu, 14th, 01:30 CET AU Employment change.
- Fri, 15th, 14:30 CET US Core retail sales.
BTC strength
After the election in the US crypto prices continue to strengthen. Bitcoin had broken the psychological barrier of USD 80.000 for the first time. Fueled by the prospects of a potential cryptocurrency in the US the market might continue with upside momentum. Regulatory headwinds might also be eased paving the way to higher levels. BTC climbed more than 6% on Sunday alone, which also helped the sentiment for other tokens to rise.
Market talk
This week will only offer limited news in the economic calendar. Still the US election aftermath might cause some impact in markets for now. The strength of the Dollar causes metals to weaken and oil prices to run lower. The current trends could continue, particularly on the oil market, as geopolitical tensions also appear to be easing. As Gold runs lower, based on the positive risk appetite, Silver prices might trade sideways moving forward.
Tendencies in the markets
- Equities positive, USD strong, cryptos stronger, oil weak, metals weaker, JPY weak.
Author
Frank Walbaum
FX Strategies.Asia
Frank has been working in the TV business for several years. Acquiring his skills in Germany’s biggest broadcasting station, he then chose to work and live in Asia, which was in 2007.
