- Boosted by rising risk-on sentiment, Bitcoin barely made a record new high price yesterday of $19,850.11 per coin. A breakout beyond $20,000 remains questionable after the retracement seen during recent hours.
- Stock markets have risen firmly after taking a small dip yesterday, boosted by better-than-expected Asian manufacturing data and optimism over coronavirus vaccine development. The Japanese Nikkei 225 Index is up 1.41% to trade at an all-time record high while the S&P 500 Index also hit an all-time high during off-hours trading.
- The U.S. Dollar Index hit a new 2.5-year low last week, and the currency is again falling against almost all counterparts. The euro and the commodity currencies (AUD, NZD, and CAD) are strong.
- The EUR/USD, AUD/USD, and NZD/USD currency pairs are rising again in line with their long-term trends after the euro and Aussie made sharp drops yesterday. The EUR/USD currency pair’s fall was triggered by a bearish rejection of the major round number and long-term resistance at 1.2000.
- It was announced yesterday that TESLA will be added to the S&P 500 Index in a single tranche.
- The Canadian government announced a $100 billion spending program designed to boost its economy post-coronavirus, the largest proposed spending plan in Canada since the second world war. So far, the announcement has made no obvious impact on the Canadian dollar.
- There is early evidence that new coronavirus cases may have made a medium-term global peak, with the daily record high set on November 13th continuing to hold and new numbers continuing to fall off.
- Last Wednesday a record high number of 12,243 coronavirus deaths were reported globally.
- Coronavirus deaths in the European Union are still increasing and are considerably higher than deaths in the U.S.A. which have begun to fall. New cases are falling in both the E.U. and in the U.S.A.
- Total confirmed new coronavirus cases stand at over 63.2 million with an average case fatality rate of 2.32%.
- The rate of new coronavirus infections appears to now be increasing most quickly in Algeria, Armenia, Azerbaijan, Belarus, Belize, Brazil, Canada, Colombia, Croatia, Denmark, Dominican Republic, Estonia, Ethiopia, Finland, Hungary, Indonesia, Iran, Japan, Kenya, South Korea, Latvia, Lebanon, Lithuania, Mexico, Moldova, North Macedonia, Pakistan, Panama, Paraguay, Romania, Russia, Serbia, Slovakia, Slovenia, South Africa, Sri Lanka, Turkey, U.A.E., Ukraine, and Uruguay.
Forex Today: Bitcoin Makes Record High Below $20k
Adam Lemon
Risk-on sentiment is boosted by Asian manufacturing data.