Bitcoin, stock futures rally as US govt remains open [Video]

Ipek Ozkardeskaya Swissquote Bank Ltd

The US government didn’t shut down yesterday, as US policymakers agreed on a short-term funding deal that will keep the lights on until November 17th.

Bitcoin rallied and US equity futures gained in Asia hinting at improved appetite after the S&P 500 recorded its 4th straight week of losses last week, and a nearly 5% fall in September. Investors didn’t flock into the US Treasuries following the US no-shutdown news, however.

Elsewhere, the Chinese official PMI rose above the 50 threshold, the Japanese tankan survey showed that confidence among big manufacturers improved for a second month, while inflation in the Eurozone slowed more than expected by analysts.

In the commodity space, gold feels like it's tied to a stone and thrown into the sea, while the crude rally is losing steam above the $90pb. OPEC+ will meet this week. No changes are expected to the outlook policy, the rising demand and falling supply continue to support higher oil prices.

Author

Ipek Ozkardeskaya

Swissquote Bank Ltd

Ipek Ozkardeskaya began her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked in HSBC Private Bank in Geneva in relation to high and ultra-high-net-worth clients.

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