Showing posts with label Bitcoin. Show all posts
Showing posts with label Bitcoin. Show all posts

Monday, January 4, 2021

ASX 200, Hang Seng Weekly Open: Rally May Pause as Pandemic Worsens

S&P 500ASX, 200, HANG SENG, ASIA-PACIFIC MARKET OUTLOOK:

  • US equity indices closed at all-time highs, but the rally may take a pause on virus concerns
  • ASX 200, Hang Seng and S&P 500 futures are mixed in view of viral resurgence and lockdowns
  • Stimulus money, speculation and return of traders propelled cryptocurrencies, Bitcoin topped $33k

 Pandemic, PMIs, Bitcoin, Asia-Pacific Stocks Weekly Outlook:

Asia-Pacific markets may kick off the week with a mixed tone after all three major US indices finished the year at their record highs thanks to the Covid-19 vaccine rollout, the US stimulus package, as well as seemingly broad consensus that central banks will largely stay accommodative as the pandemic worsens.

Tuesday, December 29, 2020

Dollar languishes amid pandemic aid optimism, pound meanders

Dollar languishes amid pandemic aid optimism, pound meanders

By Kevin Buckland

TOKYO (Reuters) - The dollar languished near a 2-1/2-year low on Tuesday with demand for safe-havens flagging as U.S. lawmakers pushed forward with a COVID-19 relief package.

The House of Representatives voted on Monday to increase stimulus payments to qualified Americans to $2,000 from $600, sending the measure on to the Senate for a vote.

Last week's Brexit agreement, while bare bones, also supported the outlook for global growth, lifting Asian stocks on Tuesday following Wall Street gains.

"Optimism abounds, and it’s generally coming from equity markets," said Bart Wakabayashi, Tokyo Branch manager of State Street (NYSE:STT) Bank and Trust.

"The dollar is very heavy, and that will continue into next year."

The dollar index was little changed at 90.194 in holiday-thinned trading, hovering near the 89.723 level reached on Dec. 17 for the first time since April 2018.

Short positions on the dollar swelled in the week ended Dec. 21 to $26.6 billion, the highest in three months, according to Reuters' calculations based on data released by the Commodity Futures Trading Commission on Monday.

The euro rose 0.1% to $1.22260 early in the Asian session, hovering near the 2-1/2-year high of 1.22735 touched earlier this month.

The dollar bought 103.740 yen, another haven asset.

Sterling rose 0.1% to $1.3477 following a two-day decline. It was as high as $1.3625 this month, a level not seen since May 2018.

Investors have taken profits in the UK currency following the confirmation last week of a Brexit trade deal that was widely expected.

While the agreement came as a relief to investors, the pact leaves Britain far more detached from the EU, analysts say.

"People are still trying to figure out what this Brexit agreement means," weighing on the pound, said State Street's Wakabayashi.

"Nothing has really been agreed on financial markets, and that’s a big negative for the UK."

Bitcoin slipped 0.8% to $26,841, continuing its retreat from the all-time high of $28,377.94 set Sunday.