Bitcoin Rallies
Dollar Higher
EU Markets Open Higher
This week in a nutshell: North Korea Threatens Trump
This week markets were largely focused on geopolitical tensions between North Korea and the U.S. after N.Korea’s foreign minister said on Monday that a weekend tweet by President Donald Trump counted as a declaration of war. He also added that N.Korean leader Kim Jong-Un reserved the right to take countermeasures, including shooting down U.S. bombers even if they were not in N.Korean air space.*
Thu, September 28: In Today’s Markets…
1. Bitcoin Higher On Morgan Stanley’s Gorman Praises
Bitcoin prices (BTCUSD) rallied to $4241.9 as of 7:00 GMT this morning, as the popular digital currency sought to break out of recent lows. The sharp rise in Bitcoin was noted after Morgan Stanley Chief Executive Officer James Gorman defended the cryptocurrency saying it is “certainly something more than just a fad” adding that the underlying software supporting Bitcoin, namely Blockchain, undeniably provides an outstanding level of security when it comes to online payments.**
2. Dollar Rallies On Hopes Of US Tax Reforms
The U.S. dollar (USD) hit a one-month high against a basket of other currencies on Thursday on hopes that Trump’s administration may establish some major tax reforms. Specifically, U.S. president Donald Trump proposed the biggest U.S. tax overhaul in three decades on Wednesday,offering to cut taxes for most Americans but favouring big corporations and high-earning companies. Trump’s elitistic approach received fierce criticism as it could add trillions of dollars to the U.S. deficit. It should be noted that the dollar index was seen trading 0.23 percent higher against a basket of foreign currencies after Trump’s much-awaited tax plans release.***
3. EU Markets Open Higher
European markets started the day higher on Thursday morning, with major indices like Germany’s DAX (GER_T30), UK’s FTSE 100 (GBR_100), France’s CAC 40 (FRA_40) and Europe’s Euro Stoxx 50 (EUR_50) edging higher across the charts. Investors will be monitoring comments from Brexit negotiators as the fourth round of talks comes to an end today. The markets will also be focusing on any updates regarding President Donald Trump’s recently unveiled tax plans. Meanwhile, South Korean authorities have also stated today that they foresee further provocative actions from neighboring North Korea, come mid-October.***
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*Source: Reuters
**Source: Investing.com
***Source: CNBC
