Fundamentals and expected events: week 26 Crypto markets:After bottoming at $17,500 last Sunday, an 18-month low, the primary cryptocurrency began its recovery on Monday and quickly reclaimed the coveted $20,000 line. It dipped below a few times in the next couple of days but stood north of it for longer periods. Similar to Bitcoin, most…
Fundamentals and expected events: week 25 Crypto markets: The previous week was a very bad one for the cryptocurrency markets, as the digital asset market was hit by a wave of major sell-offs. Bitcoin lost over 30% in a single weekend, dropping as low as below $20,000 over the weekend. Altcoins were mostly even worse…
News in brief Stocks in the United States mostly fell ahead of the expected rise in US interest rates, with only technology titles managing to recover from losses. The U.S. central bank’s monetary policy committee is expected to announce an interest rate hike at the end of its two-day meeting on Wednesday. Initial estimates were…
Fundamentals and expected events: week 24 Crypto markets: On Friday, the US inflation report (a record 8.6% year-on-year increase) kicked off the decline of Bitcoin, which first dropped from $30,000 to $29,000 in a matter of hours. What happened (and is still happening) in the next few days, however, is considerably steeper. Bitcoin’s freefall intensified…
News in brief Data from the U.S. indicated higher than expected inflation, which caused Wall Street to dive in red numbers. Technological companies reported the worst dive since this January. Stronger-than-estimated inflation data raised concerns about a possible economic recession, which was supported by a stronger-than-expected drop in consumer confidence. By contrast, the Russian ruble…
News in brief The European Central Bank intends to raise its base rate by a quarter of a percentage point in July and expects to take a further step in this direction in September. The ECB also raised its inflation estimates today and lowered its GDP estimates. Most stocks will have an extremely difficult road…
News in brief European markets lost significantly today. Investors paid attention to the OECD’s downgrade of its outlook for this year and are also looking with considerable anticipation to tomorrow’s ECB rate decision and the overall tone of monetary policy, and then to Friday’s US inflation. The ECB is expected to start actually tightening the…
News in brief European stock markets rose significantly today. All major sectors were in the black. US markets start the new week on an optimistic note, correcting the declines of last week. The DJIA weakened last week and it was the 9th decline in the last 10 weeks. The broader S&P 500 wrote off another…
Fundamentals and expected events: week 23 Crypto markets: Bitcoin has managed to reverse the bearish development of past several weeks, rising above the $31,400 level after a bearish weekend and adding 5.1% to its USD exchange rate. Ethereum and other top cryptos have been following the king crypto to the North, with ETH rising 5.2%. Analytical company…
News in brief The U.S. economy as a whole created a total of 390,000 new jobs in May, according to government statistics, beating market estimates set at about 328,000. Key stock market indices of Western European countries are now showing weaker growth after a two-day decline. According to a flash estimate by Eurostat, the European…
