Gold 1553,77
|
EURUSD 1,0997
|
DJIA 29436,50
|
OIL.WTI 52,11
|
DAX 13500,42
|
|---|
On Wednesday, a huge portion of positivity came to the market. The Chinese authorities announced that the situation with the coronavirus had changed. The positivity is based on the fact that the number of discharged patients was twice as high as the number of deaths due to the disease. It’s hard to understand where the positive is, given that 5000 new infections have been detected in the last 24 hours. However, the stock markets did not try to understand the news, noting the rapid growth.
Chart of the day DAX30
The second important news that has almost ceased to be noticed recently is the data on the number of newly created jobs from the American agency ADP. The analysts’ forecast was 156,000 people, 291,000 people in fact. After the publication of this news, the growth of stock markets and the US dollar accelerated.
Gold
Despite the reigning positivity, gold refused to decline further. Investors who have already bought the yellow metal are not in a hurry to part with it, waiting for a new wave of growth.
Bitcoin
On Wednesday night, the Bitcoin course came up to $9700. There is very little left to the round value. What is important to understand? The previous breakthrough of the level occurred on the news that China will support companies engaged in Bitcoin technology. The level was sharply broken through, and after a while the price went down hard.
Now the situation is different. Bitcoin is steadily rising, steadily approaching the level of 10,000$. Bitcoin’s breakthrough doesn’t mean it’s going to roll back soon. Perhaps, the process of accumulation is over and the price will be guided by last year’s highs. This idea is especially relevant in anticipation of the halving of Bitcoin.
Japanese Yen
The Japanese currency has been declining for 3 consecutive days, coming close to 110 yen per 1 US dollar again. Last time, after the stops were removed, a powerful pullback of 2.5 figures followed. For the pair to grow further, we must see the stock indices grow again on Thursday. And that would mean the American stock market is testing the historical highs again. The situation is very interesting, if it is followed by a pullback, then a double top will be formed – one of the most important figures of technical analysis.
What’s waiting for us today?
01.30 Australian retail sales for December
14.30 Number of initial claims for US unemployment benefits per week
15.15 Speech by Fed representative Kaplan
Important Notes on This Publication:
The content of this publication is for general information purposes only. In this context, it is neither an individual investment recommendation or advice nor an offer to purchase or sell securities or other financial products. The content in question and all the information contained therein do not in any way replace individual investor- or investment-oriented advice. No reliable forecast or indication for the future is possible with respect to any presentation or information on the present or past performance of the relevant underlying assets. All information and data presented in this publication are based on reliable sources. However, Bernstein Bank does not guarantee that the information and data contained in this publication is up-to-date, correct and complete. Securities traded on the financial markets are subject to price fluctuations. A contract for difference (CFD) is also a financial instrument with leverage effect. Against this backdrop, CFD trading involves a high risk up to the point of total loss and may not be suitable for all investors. Therefore, make sure that you have fully understood all the correlating risks. If necessary, ask for independent advice.