Bitcoin Bounce, Brexit Breakthrough, Oil Overview & Changing Trade War Fronts.By Kenneth@Xtrade - on April 3, 2019
Bitcoin Bounce, Brexit Breakthrough, Oil Overview & Changing Trade War Fronts.
The Market woke up to an active day with several factors known and unknown pushing and pulling trends both sentimentally and in reaction to financial events, as usual, the only difference is uncertainty and global markets slow down
Market participants are looking forward to the US Automatic Data Processing report to learn more about Friday’s Job’s report aka, NFP, Non-farm pay rolls.
The USD remains volatile to the upside ahead of the report however, upside is capped since the USD is alright considered high.
bounces back to life from what some thought might be the end on the token. However, it is being observed that our earlier assumption may be unfolding that the “Block Chain revolution is here to stay”. As the US seeks Crypto specialist, China’s regulators have approved 197 blockchain firms which included Alibaba, Baidu, and Tencent. To name a few. Other countries like Dubai endorses Block-chain as a platform for some of its major telecommunication operational companies.
Meanwhile South Korea beats the US and China in the debut of the 5G network infrastructure.
So what does all this mean? Basically, the Cryptocuureincies
Oil: By now
Brexit: The apparent breakthrough comes as it is reported that Prime Minister Theresa May, manages to secure dialogue with the opposition to agree on a deal to avoid a disorderly exit. The Pound was seen up trending.
Stocks: Are set to climb as the Sino-US trade negotiations blossoms to encourage market participants. It is still too early to take home anything tangible. As details remain inconclusive, However, it is these same uncertainties which
- UK100: Displays bullish undertones caught up 0.17% and trading between 7,293.1 – 7,346.0 similar to Tuesdays trading range.
- Germany 30: Continues to be supported up 0.60% Trading between 11,658.84 –11,761.53
- Italy 40: It could be now said that the FTSE MIB futures
hasleft the 20k support levels trading between 21,082.00 – 21,242.50. Up 0.93%
- USA30: Trades in a wide range between 26,136.0 – 26,301.0 supported by the day’s earning reports and optimism from the trade talks with China. However, it looks like tensions are escalating between US and India on a similar front putting about $5 billion untaxed Indian goods under scrutiny.
There seems to be little to no change in the trending of most of the commodity assets.
Oil: The API revealed stockpiles at 2.963 million barrels with no reference to market expectations prices kneejerk and continued on in tandem to current fundamentals that the market expects supply woes to drive up prices ahead of today’s EIA report oil trades in and out of gains between 62.39 – 62.98 upside have not been ruled out neither are any rumours or facts of drawdown of inventories which could drive prices upwards.
Gold: Gold rose a slightly in the early EU trade hours. However, lost momentum trading not too far, up Tuesday’s thresholds 1,292.75 – 1,298.95
Maybe you may agree with the statement below coined from Tuesday’s Market view.
“The forex market is capricious, with currency pairs plagued by ongoing fundamental market events”. As we witness the Forex arena showing familiar symptoms.
- GBP/USD: The pair was bolstered by the said Brexit break through encourage a petite buying spree raising the GBP 0.11% up by the time of print 13:00 GMT. Trading between 1.3123 -1.3197
- EUR/USD: Climbed 0.25% by the time of print. Oscillating between 1.1201 – 1.1255
- USD/JPY: Little changed for this pair however, the USD remains resilient vs. the JPY. Trading 0.15% up between 111.21 – 111.58
The tokens are very bullish with the BTC likely crossing over to 5,200 the next psychological threshold. The BTC/USD was spotted up 4.61% trading with lows of 4,745.0 to highs of 5,090.1
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