Will the CPI Crash the USD?
The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!
Bitcoin futures overleap $18,000
On Monday, the world’s craze for cryptocurrencies entered a fresh chapter as bitcoin futures shockingly ascended by one-fifth of their market value at a closely-monitored launch. Meanwhile, Asian equities grew amid optimism as for global surge.
On Sunday, on the Chicago-based CBOE Global Markets exchange the most-traded contract started at $15,460 in New York prior to soaring to a maximum of $18,700 - a 21% jump.
The futures appear to be cash-settled contracts built around the auction price of bitcoin in USD on the Gemini Exchange, owned and run by virtual currency entrepreneurs Cameron as well as Tyler Winklevoss.
Bitcoin has boasted a gravity-defying 15-fold revenue since the beginning of 2017. It managed to attract institutional interest without a small amount of question marks.
By the way, on Sunday, the acting governor of the Reserve Bank of New Zealand labeled bitcoin as a "typical case" of a market bubble.
Similar
Three Currencies to Watch This Week
We prepared an outlook of major events of this week. Check it and be ready!
The Fed won't miss these releases!
Here you'll find what awaits the market this week, from the CPI release to a possible gold plunge.
Latest news
USD Gains Momentum
The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!
NVIDIA to Become the Next Tesla
The United States has one week before default, and NVIDIA may become the next Tesla. What else drives the market?
Progress in US Debt Talks, Gold Is Down
Some progress in US debt ceiling talks is made, and the PMI data is out.
