Within a week, BTC price skyrocketed from $1,900 to $2,700. In some countries like South Korea, Bitcoin was being traded at over 4000$. Experts anticipated that a bubble was imposible to avoid and that a correction would have to happen.
According to the American Petroleum Institute, crude inventories have decreased last week by 8.67 million barrels. Another batch of data is waiting to be released later today. At the moment oil rebounded from the lowest level in more than two weeks.
Oil prices slipped again, even though no high activity is present now in the markets. The reason for it is an ever-growing number of new drilling platforms in US, which thwarts OPEC plans to cut oil production.
The dollar has found itself on backfoot since yesterday and investors have become mostly bearish after the Federal Open Market Committee has raised fears on the dynamics of future rate hikes. This allowed euro to climb back towards over a half-year high.
First time since 1989 roku, the Moody’s Investors Service downgraded China’s rating from A1 to Aa3, changing it from “stable” to “negative”.
Even though the tension has decreased, the European and Asian markets suffered heavy losses. The man behind it is the same individual who made the US markets grow – Donald Trump.
OPEC, Russia and other big manufacturers might aid to move oil prices back to $60 per barrel or more with a new extraction deal, but that would also be a green light for U.S. shale drillers.
China plans to spend more than $100 billion to finance projects from the „One Belt, One Road” strategy, aiming to strenghten the world’s second larget economy’s global influence and boost the trade between China and its partners.
Saudi Arabia and Russia announced that they might extend oil production cuts into 2018.
Hedge fund manager David Einhorn expressed his predictions that markets are too zealous about Tesla expanding electric-car sales as stockholders put their faith based on nothing Elon Musk.