EU Markets Open Higher

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EU Markets Open Higher

Bitcoin Soars Despite China Ban

Dollar Firms Against The Yen

 

Mon, September 18: In Today’s Markets…

1. EU Markets Open Higher

European markets started the week on a bullish note on Monday morning, as investors returned to riskier assets after geopolitical tensions eased. It should be noted that while the weekend passed with no new provocations from North Korea, Kim’s nuclear weapons program is likely to take center stage once again on Tuesday, as President Donald Trump is due to address world leaders at the United Nations. Oil markets remained near multi-month highs this morning, as U.S. refineries gradually begin to resume operations after getting knocked out by Hurricane Harvey. On other news, details on Trump’s tax plans are expected to be released over the coming days while citizens of New Zealand and Germany head to the polls to vote in national elections this week.*

 

2. Bitcoin Soars Despite China Ban

Digital-currency trading in China is officially dead as the nation banned bitcoin trading over the weekend. China’s two largest bitcoin exchanges, Huobi and OKCoin, announced that they would halt all trading services for local customers on Saturday. China’s regulatory crackdown has fueled a 30% sell-off in bitcoin last week. Bitcoin seems to have priced in the bad news however, as it is currently trading higher, having added more than 7 percent for the day, to last trade at $3922.0 as of 7:00 GMT.**

 

3. Dollar Remains Near 7-week High Against The Yen

The dollar held near a seven-week high versus the yen this morning, boosted by recent rises in U.S. Treasury yields. The greenback gained nearly 2.8 percent against the yen last week, after a rise in U.S. Treasury yields that bolstered the USD’s appeal. It should also be noted that a recent increase in U.S. consumer prices helped rekindle expectations that the Federal Reserve could raise interest rates again in December and provided further support for the USD pairs. As the dollar firmed, gold prices tumbled to their lowest level in over two weeks. The sterling also stood tall, buoyed by growing expectations the Bank of England could raise interest rates soon.***

You can find and trade all of the above mentioned equities and commodities on BDSwiss Forex/CFD platforms.

 

*Source: CNBC
**Source: Seeking Alpha
***Source: Bloomberg

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