Of course, we are talking first of all about the growth of the American market, which is showing new highs. It may seem that the situation is a bit absurd. There are huge risks hanging over the markets, and they keep growing. However, experienced traders understand that the situation may remain absolutely absurd for a long time.
S&P500 chart of the day
The latest news that the whole world is discussing. It turns out that the coronovirus tests are wrong in about 30-50% of cases. So there may actually be 2 to 3 times more infected. As we noted in the previous newsletter, only one question is critical. Whether the epidemic will start to spread in the world at the same rate as in China.
On Tuesday, the European currency interrupted its 6-day decline. The euro/dollar almost touched last year’s lows and pushed up. As usual, the markets took a break, removing the stops of traders, waiting for further decline.
Gold dropped slightly after 4 days of growth. Nothing has changed fundamentally. As central banks continue to print money endlessly, yellow metal looks like one of the main assets protecting against inflation.
The second such asset is Bitcoin. After a small correction, it shows new yearly highs. A new idea begins to unfold. While the Chinese banks were closed due to New Year’s Eve, a huge number of settlements between China and the outside world were made in cryptocurrencies. This is what analysts are drawing attention to as one of the main reasons for the growth of the first cryptocurrency.
What awaits us today?
02.00 New Zealand Reserve Bank Interest Rate Decision
02.00 Accompanying letter from the Reserve Bank of New Zealand
11.00 EU industrial production level for December
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