Key financial data to impact Wall Street today (Crypto markets show recovery)
Hello Steemians!
After taking a holiday break, markets in the US will reopen today, with several reports and events potentially impacting Wall Street. At 12:15 GMT, the ADP NFP Report will be released, serving as an indicator to the official NFP report due tomorrow, followed by the ISM Non-Manufacturing PMI report at 14:00. Minutes from the latest Federal Open Market Committee meeting are scheduled for release at 18:00, providing insights into the Fed’s current and future monetary policies. All of the data released could potentially impact the USD and generate volatility for other leading instruments in the US.
Crypto markets bounce back: Following a negative session on Tuesday, the cryptocurrency market got back on a positive track over the past 24 hours, with all top 10 cryptos registering gains. At the time of writing, Bitcoin was up some 2%, trading above the $6,600 mark. NEO had an impressive session, climbing more than 15% and making its way back into the top 10 crypto market cap ranking.
Asia seen lower: The US-China trade war could start tomorrow, as it is the deadline for import tariffs in both countries to take effect. Markets in the East seemed to react to the upcoming deadline, as the Nikkei, Hang Seng and China50 indices all registered losses this morning.
Oil prices dip on Trump’s tweet: The US President took to Twitter yesterday, urging OPEC to reduce oil prices, causing prices to fall slightly. The black gold might also be impacted by the Crude Oil Inventories report, to be released in the US at 15:00 GMT.
IMF cuts Germany’s growth prediction: The International Monetary Fund slashed its growth projection for Germany’s GDP, saying it will only grow 2.2%. The IMF stated that Germany is facing several short-term economic threats, such as the impact of Brexit.
Xiaomi IPO coming next week: The world’s 4th-largest smartphone manufacturer, Xiaomi, will be holding an IPO on the Stock Exchange of Hong Kong this Sunday. Xiaomi aims to raise several billions of dollars, potential reaching a market cap of up to $100 billion. Soon after the IPO, the Xiaomi stock will be available on the eToro platform for long, non-leveraged positions.
Europe opens lower: The FTSE opened 3 points lower, the DAX was down 10 points and the CAC opened 1 point lower.
Crypto is the new big thing which will overtake paper money as the means of exchange. The old world is dying fast and we are all on the point of something amazing coming...
Congratulations, your post had been chosen by curators of eSteem Encouragement program. Feel free to join and reach us via Discord channel if you have any questions or would like to contribute.
Thank you for using eSteem
CREATING YOUR PROFILE IS EASY! JUST FOLLOW THE STEPS HERE ☜(ˆ▿ˆc)
You can trade your earned credstars for SBD!
Coins mentioned in post: