European investors launch new week in mixed moods
Bitcoin eyes repeated test of $9000 handle
Nickel continues to erase its recent gains
Despite crucial developments in the North Korean theme over the weekend European investors remain in the mixed moods at the beginning of the week as major stock benchmarks from the Old Continent hover around the Friday’s closing price. US dollar is the top gaining currency from the G10 basket while Norwegian krone and Japanese yen underperform against all of its major peers. Nickel continues to decline erasing almost all of its gains made during latest superb rally.
Most of the major coins managed to post gains over the weekend with Bitcoin climbing to the $9000 handle on Saturday. A Central Bank of Iran dealt a blow to the domestic cryptocurrency market by banning banks from crypto dealings. Moreover, one of the new Fed officials expressed his disbelief in digital currencies.
It’s not the first and not the last time Donald Trump is trying a “market intervention” via Twitter but this time it affects the market that seems to be at the crossroads. A possible flare up in oil price is not only crucial for oil investors but may have broad based effects on the global economy and the markets.
Everybody who counted on a green opening following the North Korean announcement was disappointed, and even better than forecast PMIs coming from France and Germany failed to bring a long-awaited relief. As a result, the German DE30 is breaking down its critical short-term support line drawn nearby 12535 points.
The news coming from North Korea stole the show over the weekend as the country’s leader Kim Jong Un declared that he would suspend nuclear and missile tests immediately as well as shut down a nuclear test site which served to conducting the previous six nuclear tests.
The first part of April was completely dominated by politics. It may very well stay this way this week as sanctions and Trade Wars remain unfinished stories. However, we also have important central bank meetings and GDP reports that will fight for attention.