Following Tuesday’s negative news, the markets and commodities were up again on Wednesday. Euro has recovered after two days in the red, while the pound is above 1.29 once again. However, it’s Bitcoin that showed most movement.
As it usually happens, it took BTC just a few minutes to lose $500. Just like the previous few times, stop orders generated a chain reaction of new trades, and Bitcoin fell to its five-month minimum. We can only feel sorry for those investors who recently bought BTC above $10 000.
As we predicted, EURUSD recovered after falling for two days. As market players start to realize that Brexit is going to be postponed once again, speculators offer support to the euro by exiting the pound.
By Wednesday evening, gold was up by 0.5%. However, the situation hasn’t changed relative to the past few days. The narrow channel that gold is in gives no signs of what’s coming next.
DAX30 is close to the all-year high. This positive dynamics is supported by the ECB’s relaxed monetary policy. Therefore, there’s no reason why the trend should change.
09:30 Germany: business activity in manufacturing index
10:00 Euro zone: business activity in manufacturing index
11:45 ECB decision on the interest rate
14:30 US: durable goods orders
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