Today the focus is on a big Bitcoin fall, investors pulling out of high-risk assets, and the rise in oil demand.
The US Department of Labor releases its weekly Initial Jobless Claims measures. Forecast: 450K. If the results are higher than predicted, USD could receive a negative push.
Assets to trade: USD/JPY, EUR/USD, CAD/USD
Bitcoin has lost almost 30% in the downtrend that started with Tesla announcing that it will stop accepting crypto as payment. Affects Bitcoin
Dow Jones tumbles as investors become wary of the risky assets amidst the crypto crash. Affects Dow Jones
Oil stockpile rose less than expected, giving oil companies more confidence in demand increase. Affects Brent
Two key US lawmakers are seeking records on the production issues involving Boeing 737 MAX and 787. Affects Boeing
Google deepens its partnership with Shopify to attract more online sellers to its products. Affects Google
Bitcoin is at the moment in the biggest route in its history, losing almost 30% of its price in a matter of days. While Tesla’s statement started the process, a new regulation by the Chinese government has added fuel to the fire, forbidding crypto payments in the country.
Bitcoin is now in the correction, trying to recoup some of the losses it suffered.
The pair is showing sharp changes in price today, though overall it is moving downwards.
Silver is now in the correction after a big spike in its price couldn’t break its downward trend.