Gold 1570,87
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EURUSD 1,0955
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DJIA 29061,50
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OIL.WTI 50,37
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DAX 13477,29
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Summing up in our newsletter, we noted that the main beneficiary of 2019 was Bitcoin, which grew by almost 100%. And we advised to pay close attention to it in the new year. On Sunday, the first cryptocurrency rose above $10,000.
Chart of the day S&P500
At the same time, as we supposed, the breakthrough of the level of 10k was not fast, with the price going up or vice versa, fast profit taking and not less fast rollback.
Now the bitcoin resembles a snowplow, which is slowly but surely moving along the road, clearing the way of snow. Futures contract sellers shorting BTC act as snow.
S&P500
Friday’s published data on the number of newly created jobs in non-U.S. agricultural sector were better than predicted. On this news, all indices were impulsively shot up. But, literally, after a few seconds, a powerful sale started, which we had predicted in the previous newsletter. After 4 days of growth, before the weekend, speculators hurried to fix profits. And large investors did not want to continue buying shares, not knowing what awaited us on Monday with news from China..
GOLD
And this news will be disappointing. Despite the brave assurances, the number of newly discovered cases of infection continues to grow rapidly. This week will be critical to understanding whether the epidemic will start to develop outside of China. The latest figures for the world’s infectious diseases are almost the same as those we saw 20 days ago in China itself, when fewer than 1000 more were identified.
Against this background, gold looks like a “lagging asset” compared to the cryptocurrencies that have been shot up. Which means its growth potential is far from being exploited.
What’s waiting for us today?
02.30 Consumer price index in China for January
07.45 Unemployment rate in Switzerland for January
14.15 Speech by Fed representative Bowman
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