Ipek Ozkardeskaya
Swissquote Bank Ltd
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.
This report has been prepared by Swissquote Bank Ltd and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.
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