Bitcoin, after taking a week-long breather in its blistering 2021 bull run, has suddenly shot higher. The bitcoin price briefly climbed past the closely-watched $50,000 per bitcoin level for the first time late on Monday evening, hitting $50,110 on the San Francisco-based exchange Coinbase and $50,240 on the Singapore-based crypto derivatives exchange Bybit before falling […]
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Markets Outlook: Equity markets ignore virus headlines
The Fed headlines the week’s economic calendar amid unusually confused messaging Equity markets ignore virus headlines (provided more mobility restrictions remain at bay) Will the chop-fest continue over the coming week? Yes, it probably will. Still, US stocks ended a volatile week with modest gains as investors took solace in robust consumer data while sitting […]
Weekly Technical Preview
This week, the market sentiment was unclear as investors weighed the reopening of several countries’ economy against risks of a second wave of infections. USD dipped lower as investors anticipated negative rates and the dire unemployment claims number released on Thursday. Elsewhere, oil prices pushed higher, breaking out to the upside of what many market […]
BREAKING: Oil prices drops below $0 amid coronavirus pandemic
The American oil industry is facing a doomsday scenario. The coronavirus pandemic has caused oil demand to drop so rapidly that the world is running out of room to store barrels. At the same time, Russia and Saudi Arabia flooded the world with excess supply. That double black swan has caused oil prices to collapse […]
