The first part of the week was more than optimistic for Bitcoin. However, now it is going through the correction phase.
Daily News: Monday, January 22
The weekend has gone! It is time to come back to Forex and start to trade. Our news will help you to make your trading plans for this week.
- Angela Merkel is moving forward in forming a fourth-term government. A negotiation on a strategy between allies will start on Monday and will continue with real talks on Tuesday. What about the euro, this news caused the rise in early Asian trading, but later it fell back to its price at $1.2226.
- The US government is in stagnation. It had to vote for a stopgap funding bill on Friday, but the decision is still in process. We are waiting for news today at 19 MT time.
- Another important issue for the US. San Francisco Federal Reserve President John Williams claims that the US economy has a good momentum that will lead to the fast growth of interest rates: low inflation, tax cuts, strong economy are on the US side.
- Steady prospects from China. A spokesman for China’s state planner claimed that the Chinese economy is supposed to be steady and it has a good chance this year. So let’s see.
- Some words about country ratings. Fitch rating improved the assessment of Greece and Spain. Spain showed the growing economy with improving fiscal situation, long-term debt rating has a stable outlook, however, the political standoff will affect the growth. Greece got a positive outlook on a Greek a government debt index. It has gradually recovering economic prospects.
- Cooperation is continuing. Russia and OPEC reaffirmed their readiness to cut the production of oil until the end of 2018 to re-balance the oil market. No news about the 2019 yet. Brent – $68.81 (+0.32%), WTI – $63.53 (+0.38%).
On Wednesday, China posted shockingly weaker surge in retail sales as well as industrial output for April, thus increasing pressure on the Chinese cabinet to roll out more stimulus because the trade conflict with America escalates…
In April, American import prices surged less than anticipated in April due to the fact that jumps in the cost of food and petroleum were tamed by the largest tumble in the price of capital goods for a decade, dropping a hint at the fact that inflation…
On Monday, gold declined notwithstanding a lower American currency because data underpinned hopes for a Fed interest rate lift…
On Friday, European stock indices fluctuated at the beginning of the trading session…
The Reserve Bank of New Zealand will hold a meeting at 00:00 MT time on August 9.