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A world of Trading assets

2021/05/20 Market Chat

Authored by ZanderVanDerMerwe
20.05.2021
Market Commentary
0
2 min

Bitcoin, Ethereum, Doge, Litecoin… Red across the board as China put its foot down on the crypto market driving the whole alternative asset class into substantial draw-downs as panic took over.

As focus was on crypto yesterday equity markets held firm as US and European indices either closed positive or close to their daily open, with only the Dax closing significantly lower despite a significant recovery in the US session.

Gold had a mixed day as it pushed to get to 1900 by making a daily high of 1889 before closing on 1872, Silver had some profit taking as it retraced back down to support of 27.70 where it closed out the day below $28. Brent sold off significantly, as it made a daily low of 65.20 as Crude Oil Inventories came out slightly below forecasted.

There was some mixed data that was released out of Australia this morning as the Unemployment rate came in lower than the forecast at 5.5%, while Employment Change came in significantly lower than forecast as 30.6k jobs were actually lost in comparison to the 17k growth that was forecasted. Keep an eye out for the Philly Fed Manufacturing Index and Unemployment claims set to be released this afternoon.

Thursday (SAST)
3:30am - Employment Change (AUD)
3:30am - Unemployment Rate (AUD)
2:00pm - ECB President Lagarde Speaks (EUR)
2:30pm - Philly Fed Manufacturing Index (USD)
2:30pm - Unemployment Claims (USD)

Authored by ZanderVanDerMerwe
20.05.2021
Market Commentary
0
2 min

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