Thursday Market Recap
Financial markets had another quiet day before the US GDP print, as the key stock markets consolidated below their weekly highs, and investors remain cautious following last week’s volatile correction. European stocks still outperform global markets, while the Japanese Nikkei index is the worst performing major market so far, while US benchmarks are also well off their overnight highs. The slightly better than expected final GDP reading pushed stocks higher, but the surprisingly high number of initial jobless claims kept a lid on the rally.
The US Dollar is trading higher compared to most of its counterparts, as the future of the Fed’s monetary policies remains in focus. The lower than forecasted prelim German CPI index weighs heavily on the Euro, as the optimism after the previous blowout reading could be fading. The British Pound is also active today, as the fears regarding the Brexit process eased somewhat after yesterday’s nervous session. Oil is holding on to its gains from yesterday following the smaller than expected inventory build in the US.
Litecoin is the star among cryptocurrencies, as it jumped by more than 100% during the session, launching another siege on the $10 level on huge volume. Litecoin took over Monero in the market capitalization ranking despite Monero’s rally that carried the currency over $21 today. Bitcoin showed some weakness overnight and today in early trading, as it is still stuck below the $1050 zone. Ripple is also up by more than 10%, and it’s above the $0.01 level once again. Dash is sliding after yesterday’s bounce, while is still hovering around $52, close to its recent highs.
Technical Picture
DAX 30 Index, Hourly Chart Analysis with SP 500 comparison
The German DAX index has been the leader among the global benchmarks lately, and it’s still showing relative strength today, despite the negative economic numbers coming out in the Eurozone in the morning. The nominal highs of the benchmark are now just 200 points away, near 12500, although the index is already at new all-time highs after accounting for dividends. The weakness of the Euro could be helping the benchmark this week, as exports are a huge part of the revenue of German companies, and a weak currency makes export products more competitive.
Key Economic Releases on Thursday
Key Economic Releases on Friday

TheBitcoinNews.com – Bitcoin News source since June 2011 –
Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. TheBitcoinNews.com holds several Cryptocurrencies, and this information does NOT constitute investment advice or an offer to invest.
Everything on this website can be seen as Advertisment and most comes from Press Releases, TheBitcoinNews.com is is not responsible for any of the content of or from external sites and feeds. Sponsored posts are always flagged as this, guest posts, guest articles and PRs are most time but NOT always flagged as this. Expert opinions and Price predictions are not supported by us and comes up from 3th part websites.
Advertise with us : Advertise
For the latest cryptocurrency news, join our Telegram!