Please note that due to market volatility, some of the scenarios may have already been played out and the information below is not an investment advice.
The negative trend in the crypto market continued over the past 24 hours, as all top 10 cryptos registered losses. Bitcoin continued to tumble, trading just above the $7,100 mark at the time of writing. If BTC prices remain on their current trajectory, the world’s largest crypto could fall below the $7,000 mark - a price level not seen since April 12th. Of the top 5 cryptos, EOS registered the most losses, down more than 9%.
Wall Street resumes trading: After being closed in observance of Memorial Day, US markets will reopen today. News regarding talks between North Korea and the US could impact markets today, as well as the CB Consumer Confidence report, to be released at 14:00 GMT.
Asia seen lower: Markets in the East were mostly on the decline this morning, as the Nikkei was down more than 1% at the time of writing, joined by the Hang Seng. In contrast, the China50 index registered impressive gains, up by more than 1%.
Oil recovers slightly: After four consecutive negative sessions, including a 4% drop last Friday, oil prices recovered slightly this morning. Prices are being affected by reports that Saudi Arabia and Russia, the world’s two largest oil producers, intend to ramp up production.
Volatility expected for NZD: The Reserve Bank of New Zealand will publish it biannual Financial Stability Report at 21:00 GMT, potentially impacting the Kiwi Dollar.
Political turmoil impacts European markets: The aftermath of the election is being felt in Italy, as parties fail to form a coalition, raising concerns of a snap election. Additionally, Spain’s Prime Minister Mariano Rajoy will be facing a vote of confidence later this week, further contributing to uncertainty in the EU.
Europe opens lower: The FTSE opened 5 points lower, the DAX was down 50 points and the CAC opened 13 points lower.
Stocks earnings releases on 29/05/2018
- HPQ | Hewlett Packard | After market close
- CRM | Salesforce.com Inc | After market close
Stocks earnings releases on 30/05/2018
- KORS | Michael Kors Holdings Limited | Before market open
- DKS | Dicks Sporting Goods Inc | Before market open
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