Bitcoin Soars to New Highs
8/8 – Walt Disney to Report Earnings
9/8 – RBNZ Interest Rate Decision to Affect the NZD
Last Week’s Recap – NFP Report Beats Expectations
Last week we saw Merlin Entertainments soar on strong earnings reports and an upbeat NFP report lift the markets. The Non-Farm Payroll report beat expectations on Friday revealing that America’s economy created 209,000 new jobs last month. That’s better than what economists had anticipated, and suggests the US labor market is still recovering. The unemployment rate also dropped to 4.3%, from a previous 4.4%.*
Monday Morning Briefing – Bitcoin Soars to New Highs
Bitcoin surged above $3,000 to reach a new all-time high over the weekend after a historical split in the beginning of the month. Bitcoin peaked against the U.S. dollar on Saturday to reach a record high of $3,307.9 and a market cap of $53.4 billion. Today BTC/USD was seen trading somewhat lower at $3250.8 as traders sought to cash-in on the weekend rally. It should be noted that bitcoin prices have jumped more than 10% in the past week and the cryptocurrency has more than tripled its value this year. Can there be a limit to the this cryptocurrency’s soaring performance?**
Important Events and News Releases that will Define this Week’s Markets:
TUE 8/8 – Walt Disney to Report Earnings
Walt Disney (#DIS) is due to report Q2 earnings after the US market close. Consensus EPS forecast is $1.53 versus a previous $1.62. for the same quarter last year which is expected to push shares lower.*
WED 9/8 – RBNZ Interest Rate Decision to Affect the NZD
The Reserve Bank of New Zealand is not expected to hike rates this month but a hawkish stance by the RBNZ governor, could push the NZD pairs higher.**
BDSwiss will be offering a free live RBNZ Trading Session this Wednesday. How will the NZD crosses react to the news? Watch our experts trade the opportunities that will arise on the day!
*Source: Seeking Alpha
**Source: Coinmarketcap
***Source: Investing.com
View all Important economic releases & events this week:
https://www.bdswiss.com/economic-calendar/
