Bitcoin climbs to an all-time high of $2100

Bitcoin Climbs to an All-Time High

Tue 23/5: Germany’s IFO Index to Affect the EUR

Wed 24/5: BOC Interest Rate Decision to Affect the CAD

Last Week’s Recap – Political Turmoil Causes Markets to Wobble

Reports that President Donald Trump had asked then-FBI Director James Comey to drop a probe into his ex-national security advisor, spread uncertainty in the markets last week. Concerns about Donald Trump’s political integrity receded on Friday as U.S. equities closed higher and the Dow Jones industrial average rose about 140 points, with Boeing and Caterpillar contributing most of the gains.*

Monday Morning Briefing – Bitcoin climbs to an all-time high of $2100

Bitcoin continued to rally today, rising more than 5% to an all-time high of $2,100 as demand by Japanese investors increased. According to CoinDesk, the cryptocurrency market cap, which refers to the total price of coins in circulation, gained more than $5B last week to reach a record high of $33.5B. Bitcoin parent company Ledger Holdings, stated on Monday that it has also closed $11.4 million in funding led by Miami International Holdings Inc and China’s Huiyin Blockchain Venture Investments. It should be noted that LedgerX is currently awaiting regulatory approval from the Commodity Futures Trading Commission to operate the first U.S. regulated exchange for bitcoin options. Note that BDSwiss allows for BTC trading on its Binary Options Platform!***

Important Events and News Releases that will Define this Week’s Markets:

TUE 23/5 – Germany’s IFO Business Climate Index (May) to Affect the EUR

Germany’s Ifo Business Climate Index exceeded forecasts at 112.9 for April. On Tuesday, investors will be looking very closely at May’s data which is due to be released at 8:00 GMT. It should be noted that the index rose above expectations for three consecutive months and another higher than expected reading could push the EUR pairs higher.**

WED 24/5 – BOC Interest Rate Decision to Affect the CAD

The Bank of Canada has kept key rates unchanged at 0.5 percent since July 2015 and while a rise in rates is not expected, a surprise rate hike could push the CAD pairs significantly higher.*

BDSwiss is offering a LIVE Trading Session on the day of the BOC interest rate announcement at 13:45GMT. Don’t miss your chance to join our FREE Live Trading Session!