1. Bitcoin Climbs Past $10,000
Bitcoin climbed back above $10,000 late on Thursday for the first time in two weeks. The climb was attributed to an influx of new users on Coinbase which added about 300,000 users, helping send bitcoin from around $8,000 to $10,000. It is also important to note that recent regulator statements have helped alleviate some of the fears surrounding the recent heavy-handed crackdown. Specifically, CFTC Commissioner Giancarlo, changed the regulatory tone surrounding bitcoin when speaking at the Senate Banking Committee this Thursday.*
2. Dollar Plummets To 3-Year Lows
The U.S. dollar wallowed near 3-year lows and headed for its biggest weekly loss since May this morning after being weighed down by a variety of factors, including concerns that the Federal reserve might scale back easy monetary policy. Traders also suspect that confidence in the dollar has been eroded by mounting worries over the deficit in the United States, after two recent government shutdowns. The U.S. is now looking at nearly a $1 trillion in government deficits after a government spending splurge and large corporate tax cuts.**
3. Gold Prices For New Highs As Dollar Weakens
Spot gold (XAUUSD) is up by more than 3 percent so far this week, set for its strongest weekly performance since 2016. The noble metal was buoyed by a weaker U.S. dollar which in turn caused investors to hedge against inflation. Spot gold added 0.5% to trade to $1,362.4 as of 8:00 GMT this morning, touching a three-week high. Meanwhile, the dollar continues languish near a three-year low against its major rivals amid concerns of a rising U.S. government deficit.***
You can find and trade all of the above mentioned assets on BDSwiss Forex/CFD platforms.
*Source: CoinDesk
**Source: CNBC
***Source: Investing.com
