Fundamentals and expected events: week 14
Crypto markets: Bitcoin tested again the level of $47,000, but failed and retraced by around a thousand dollars shortly after. Most altcoins are untypically stable, except PlatonCoin, which shoot up by 11.4%. Ethereum marked a three-month high a few days ago above $3,500 and has remained around that level ever since. The crypto market cap stands still above $2.250 trillion.
Stock and commodity markets: Stock markets started new week moderately in red numbers. Commodity markets are heavily influenced by the situation in Ukraine and recent decree from Vladimir Putin that Russia will accept payments for gas and other commodities in rubles only. While oil prices are now slightly decrasing, prices of natural gas are sky rocketing. Gold is also a bit in red numbers due to the increasing price of USD, however it was very volatile last week and volatility can be expected in the upcomming weeks as well.
Fundaments and important events: Geopolitical conflict in Europe remains an important influence on global markets. Lagarde and Powell have repeatedly warned that the military operation in Ukraine creates additional risks for the global economy and price stability. The war in Ukraine is fuelling global inflation, as well as creating a food crisis and leading to higher energy prices. Vladimir Putin signed a decree to accept gas payments only in rubles from 1 April. In general, it is still unclear how will the world react. But if the end result is that Russia refuses to supply gas to Europe or that Europe refuses to supply gas from Russia, the price of gas could rise even more. At the same time, Russia will have nowhere to put its gas, and Europe will have nowhere to take the gas in the volumes it is taking from the Russian Federation. Besides that there are rising fears of new Covid-19 cases in China, due to which the major port in Shang-hai is not able to process shippments. That places even more stress on the global production. Macro data from the Czech republic and other countries will thus probably have only a minor role this time, if it does not bring an unexpected surprise.
Cryptomarkets and marketcap: week 14
BTC / USD
ETH / USD
Disclaimer: This is not an offer for concluding a contract. Trading cryptocurrencies is a highly risky business and as such you are the only person bearing the risk and responsible for your own decisions. Do not engage in trading unless you do your own research and are fully knowledgeable of the risks.