“Global markets, excluding American ones, are cheap in relation to their historical average.”
Archives of “November 28, 2019” day
rssThe revaluation of the US dollar is very likely to continue.
It is very likely that the ‘fourth cycle’ of Bitcoin will never arrive.
World gold reserves.
USD/JPY matches the best level since May
USD/JPY up 42 pips on the day
Better economic sentiment and a lower chance the Fed will cut rates are driving a rally in USD/JPY today and breaking technical resistance.
The next headline on the pair that you’re likely to see is it hitting the highest since May. It’s matched that level so far as it sits at 109.48.
Watch out for a run on buy stops if the pair breaks higher. Stocks are certainly poised for a strong close.
Bitcoin rises 6% in bounce-back day
Bitcoin up $500
Bitcoin hit a six-month low to start the week but is bouncing back today in a nearly $500 rally to $7600.
One catalyst appears to be a report saying the Swiss government is working on laws that are more positive for blockchain.
Another theory is that recent selling was driven by the sale of Bitcoin from a theft in China and that’s dried up now so the dip-buyers are stepping in.
Technically, it’s undoubtedly oversold in the short-term but the break below the October lows is concerning. We could get a rebound to $8000 or $8500 before the selling kicks back in.
Thought For A Day
