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Market News 【TOP1 Evening】Bitcoin rises without fear of ban! Oil bearish

【TOP1 Evening】Bitcoin rises without fear of ban! Oil bearish

Tesla rose more than 1% before the opening of US market, Musk said that it will soon establish business in Russia; Bitcoin has returned to the $40,000 mark; gold has fallen sharply in the short-term, and the price of gold is approaching 1870; the market is bearish after the international oil price plummet; optimism has devalued the dollar , Cryptocurrency taxation hit Bitcoin, pay attention to PMI and central bank officials’ speeches; European stock markets opened higher across the board and the German DAX index rose 0.21%.

TOPONE Markets Analyst
2021-05-21
725

晚间新闻.jpg


Crude oil: oil prices plummeted

Both WTI oil prices and Bursa oil fell to their lowest levels since April this year. WTI crude oil futures fell 3.3% on Wednesday, and Brent crude oil fell 3% due to the general sell-off of stocks, commodities and cryptocurrency assets.


US WTI June crude oil futures closed down 1.31 US dollars on Thursday, or 2.1%, to 62.05 US dollars per barrel, the lowest closing level since April 26. WTI July crude oil futures closed down 1.41 US dollars, or 2.2%, to 61.94 US dollars per barrel. Brent July crude oil futures closed down 1.55 US dollars, or 2.3%, to 65.11 US dollars per barrel, the lowest closing price since April 13.


Gold price: approaching $1870

Driven by falling yields on the US dollar and US Treasury bonds, gold prices rose on Thursday. Spot gold closed at US$1,877.21 per ounce, up US$7.59 or 0.41%, and hit US$1,883.88 per ounce during the session.


However, as the US dollar and US bond yields rebounded, the price of gold in Asian markets fell sharply in the short-term on Friday, reaching a minimum of 1,870.23 US dollars per ounce.


Forex: USD fell below 90

U.S. dollar index fell back and fell 0.46% to 89.79 late in the market, hovering near a few-month low. The market has realized that the Fed needs to see data improvements in the coming months before it can begin to discuss reducing quantitative easing.


The euro traded above 1.22 against the US dollar, thanks to the weakening of the US dollar and the improvement of the European epidemic; the pound rebounded to 1.42 against the US dollar, also driven by better-than-expected UK retail sales in April.


Canada's strong economy and rising commodity prices, the strong Canadian dollar, pushed the Canadian dollar to its highest level against the US dollar since 2015, and fell 0.60% to 1.2059 in the late market.


Cryptocurrency: Bitcoin rebounds

Digital currency regulation is tightening. Following China, the U.S. Treasury Department proposed on Thursday that cryptocurrency transfers of more than $10,000 must be reported to the U.S. Internal Revenue Service. This proposal aims to curb tax evasion.


Bitcoin rose by 17.45% during the day and was traded at around US$42,000; the price of Ether also exceeded US$2,900, the latest reported at US$2894, an increase of 45% within 24 hours.


Stock market: European stocks opens high across the board

European stock markets opened higher across the board. The German DAX index rose 0.21%, the UK FTSE 100 index rose 0.05%, the French CAC40 index rose 0.11%, and the European Stoxx 50 index rose 0.25%.


Hong Kong's Hang Seng Index opened higher and then dived, once fell more than 0.5%, but then slowly recovered the decline and basically closed flat. At the same time, technology stocks outperformed the broader market, and the Hang Seng Technology Index rose about 1.4%.


Before the US stock market, Tesla rose more than 1% to $594.00. Tesla CEO Musk said at an online event on Friday that Tesla is close to establishing a business in Russia and is considering whether to open a factory there.


Tonight Focus

21:45 US Markit Manufacturing Purchasing Managers Index Initial Value

22:00 Eurozone Consumer Confidence Index Initial Value (May)


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