The End for Digital Gold?

The End for Digital Gold?

We love trading weeks like this one, filled with impactful events, crypto-crashes, economic releases, and political decisions from global leaders. The day has a lot to offer, so let’s take the most from it!

Events of the day:

Monthly US CPI at 15:30 GMT+2

Bank of Canada Governor Macklem Speaks at 18:50 GMT+2

Is It Buy for Crypto?

Crypto-exchange FTX is about to crash. The initial reason is that FTX CEO used clients’ funds to save his other company several months ago and didn’t tell anybody about it. Now, the exchange faces a liquidity crisis that caused enormous margin calls. Coins like SOL, FTT, UNI and many others are under heavy pressure.

Bitcoin has a lot of difficulties, too. The main crypto lost 27% over the last few days, turning the market red. The $15 700 is not only the 2-year low but also the price where bitcoin miners start to capitulate because of mining costs. Every time the BTC price reached such levels, it became the point where the next bull market began. The global economy is way more damaged this time, but current prices are excellent for long-term investors and mid-term traders.


Other great news to follow

  • China locks down another district in Guangzhou city on Covid. On Monday, the city recorded 2528 new cases, most of which were asymptomatic. Also, China’s annual CPI is 2.1% vs. the 2.4% expected.
  • Japan’s current account surplus hits an 8-year low in the fiscal 1st half of the year.
  • The US elections are still present, with Republicans winning the majority in the House of Representatives. Results of the polls in the Senate will be released weeks later as one of the states needs to carry out re-election.
  • AstraZeneca PLC released its earnings report. Both EPS and revenue turned out to be higher than expected. The stock is up 3% in the pre-market session.
  • Analysts expect Tesla stock to continue its downtrend in 2023. The most extreme scenario is another 40% dump.


Use the volatility to perform your trades, and good luck!


US Dollar Index at a 3-month Low
US Dollar Index at a 3-month Low

The USD weakened after Fed Chair Powell hinted at a slowdown of rate hikes, and stocks strengthened. What else is moving the markets today?

Soon Bullish Rally for Gold
Soon Bullish Rally for Gold

The winter is coming, and risky markets expect a rally to come with it. Will this December be bullish for stocks, crypto, and gold? A pack of news will surely help you out.

Latest news

China Stocks are About to Jump
China Stocks are About to Jump

It’s Wednesday, my fellow traders! The day is filled with news and events you need to know, and here’re some of them.

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