- Cryptocurrencies are on the rise again
- Mixed sentiment in the stock market
- US dollar weakest among G8 currencies
While the volatility in traditional markets remained low today, one could observe strong movements in the cryptocurrency market. Bitcoin and BitcoinCash are gaining over 13% in the evening hours, Litecoin and Ripple are adding over 10%, and Ethereum jumped more than 9%, all after rumors that Amazon will start accepting cryptocurrency payments.
European indices finished today's session in mixed moods as it seems that investors refrained from taking large transactions ahead of the FOMC meeting which will take place on Wednesday. Also, sharp declines in Asian markets driven by a crackdown on technology and education companies decreased risk appetite. Tech investor Prosus was one of the worst performers after China tightened measures against Tencent, in which the Dutch company has a 28.9% stake. DAX 30 fell 0.30%, CAC 40 rose 0.15%, while FTSE 100 finished flat.
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Create account Try a demo Download mobile app Download mobile appMixed moods prevail also in the US. Three major indices still hover around near record highs ahead of a busy week of earnings reports from technology’s heaviest hitters. Apple, Alphabet, Microsoft and Facebook are due to report during the week while investors' favourite Tesla will report second quarter results today after market close.
When it comes to the Forex market, the dollar remains under pressure today. The US currency lost almost 0.6% against the British pound. USD also weakened by almost 0.4% against CHF and EUR and 0.35% against NZD.
Ethereum posted solid gains today and price broke above the local trendline, which may indicate a continuation of the upward move. However, the price has now reached the resistance at $ 2,380, which is marked with earlier price reactions. However if buyers will manage to uphold current momentum, then, the next target for the market bulls is located around $ 2710 and is marked with 38.2 Fibonacci retracement of the last downward wave. Source: xStation5
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