The calm before the storm?

By 27/02/2020News
Morning Stock News

Gold   1651,22
(+0,64%)

EURUSD   1,091
( +0,26%)

DJIA   26530
(-1,38%)

OIL.WTI  48,03
(-1,21%)

DAX   12599,57
(+ 0,01%)

Wednesday was a day for traders when they got some rest. The sharpest fall in major trading indices on Tuesday was definitely a shock for investors. So on Wednesday, some players tried to recoup their lost positions and stabilize the situation.


Bitcoin chart of the day

Will things from Monday and Tuesday happen again? No one can say yet. Many analysts say it was all predicted earlier. S&P500 index is slightly up 0.5%, Dow Jones index is up 0.15%, DAX was trading around zero during the trading session.


Australian dollar

Problems in Asia have a very serious impact on Australia because it is a major supplier of raw materials to the region. Due to the closing of factories and the decline in production in China, the Australian dollar is close to 0.63, which is the lower limit of the range in which this currency has been for 10 years. It is likely that the central bank of Australia will have to lower the refinancing rate again. Of course, until the situation with the virus clears up, the Australian dollar will depend on it. We shouldn’t expect any growth anytime soon. During the whole trading day the Australian dollar decreases and trades at the level of 0.6550. The lower level at 0.63 is a very strong support.


Bitcoin

On Wednesday, no wonder happened and all the major cryptocurrencies were falling all day long. Bitcoin lost 7%, which really upset the cryptointusiasts. The major crypto cannot find support at all, even below $10000. Many say that Warren Buffett himself was to blame, who said during an interview on CNBC that he does not keep the cryptocurrency in his investment portfolio at all, and even less will buy it in the future. Cryptocurrencies are very unpredictable assets, so trading decisions should be made only when the currency finds support. The nearest level for bitcoin is $8500.


What is waiting for us today?

08.00 UK Housing Price Index
14.30 Base orders for durable goods in the USA
14.30 GDP per year in the USA


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