The euro’s race to the bottom, US jobs & Bitcoin rebound | MarketTalk: What’s up today? | Swissquote
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Global equities had a strong session yesterday; most European and US indices gained, leaving many investors wondering though, why the market is pushing higher while the recession talks are surging.
Fed
The most plausible explanation is the good old ‘bad news is good news’ rhetoric: prospects for global growth slowed to an extent to allow the Federal Reserve (Fed) doves show up their nose again However, two Fed members said yesterday that they would back a 75bp hike in next FOMC meeting, but dismissed the economic downturn fears (?!) Today, the US will reveal the latest jobs data. With the recession talk taking the center stage, investors are increasingly focused on the jobs figures. The US dollar index consolidates at 20-year high levels and continues pressuring its G10 and EM peers lower.
EUR/USD
The EURUSD slipped to 1.010, as the euro bears remain in charge of the market despite the hawkish European Central Bank (ECB) minutes. Bitcoin tested the $22K resistance on the back of a broad risk rebound, and despite Voyager filing for Chapter 11, while Twitter jumped 1.50%, but Elon Musk could be walking away from the deal.
Watch the full episode to find out more!
0:00 Intro
0:24 Market update
3:19 US jobs data could be interpreted in so many different ways!
5:18 Euro races to the bottom
7:03 Sterling rebounds amid BoJo’s resignation
8:06 Elon Musk to walk away from Twitter deal
8:46 Bitcoin rebounds despite Voyage bankruptcy
Ipek Ozkardeskaya
Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020. #US #NFP #jobs #unemployment #data #inflation #recession #USD #EUR #GBP #ECB #meeting #accounts #BorisJohnson #resignation #China #stimulus #crude #oil #topselling #dipbuying #Bitcoin #Voyager #Twitter #SPX #Dow #Nasdaq #investing #trading #equities #stocks #cryptocurrencies #FX #bonds #markets #news #Swissquote #MarketTalk #marketanalysis #marketcommentary _____ Learn the fundamentals of trading at your own pace with Swissquote's Education Center. Discover our online courses, webinars and eBooks: https://swq.ch/wr _____ Discover our brand and philosophy: https://swq.ch/wq Learn more about our employees: https://swq.ch/d5 _____ Let's stay connected: LinkedIn: https://swq.ch/cH
