{"id":519223,"date":"2021-04-16T10:08:28","date_gmt":"2021-04-16T00:08:28","guid":{"rendered":"https:\/\/www.gomarkets.com\/?p=519223"},"modified":"2023-02-09T10:11:40","modified_gmt":"2023-02-08T23:11:40","slug":"european-and-us-markets-hit-all-time-highs-bitcoin-breaks-out-the-dollar-slides","status":"publish","type":"post","link":"https:\/\/www.gomarkets.com\/en\/articles\/cryptocurrency-trading\/european-and-us-markets-hit-all-time-highs-bitcoin-breaks-out-the-dollar-slides\/","title":{"rendered":"European and US markets hit all time highs, Bitcoin breaks out, the Dollar slides"},"content":{"rendered":"<h4><strong>Equity markets<\/strong><\/h4>\n<p>US stocks jumped overnight to reach record levels as stronger than expected print on retail sales and a sharp improvement in the number of new jobless claims cheered the investors.<img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-268772\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2021\/04\/3-300x125.png\" alt=\"\" width=\"490\" height=\"204\" srcset=\"https:\/\/www.gomarkets.com\/wp-content\/uploads\/2021\/04\/3-300x125.png 300w, https:\/\/www.gomarkets.com\/wp-content\/uploads\/2021\/04\/3-600x249.png 600w, https:\/\/www.gomarkets.com\/wp-content\/uploads\/2021\/04\/3.png 602w\" sizes=\"auto, (max-width: 490px) 100vw, 490px\" \/><\/p>\n<p>Source: Yahoo Finance<\/p>\n<p>US reporting season kicked off this week with impressive results so far from Finance heavyweights JP Morgan, Goldman, BOA and Citi, all handily beating estimates.<\/p>\n<p>The week&#8217;s economic figures, strong corporate earnings and comments from Fed Chairman Powell regarding the commitment of the central bank&#8217;s easy money policies have seen US markets make all time highs on an almost daily basis.<\/p>\n<p>European stocks also hit record highs this week with the EUROSTOXX 50 breaking 4000 and having rallied nearly 80% from the pandemic lows in March 2020.<\/p>\n<p>Analysts are confident there is further upside in Europe as prices remain low compared to the U.S and vaccination rates climb to catch up to the U.S.<\/p>\n<p>\u201cEuropean equities are set to benefit from a sharp acceleration in euro area GDP (gross domestic product) growth over the coming months, but that is due to the boost from reopening and the support from a powerful U.S. recovery, rather than a function of the dispersal of NGEU funds,\u201d two analysts at Bank of America said in a note to clients.<\/p>\n<p>World equity indices are mostly up for the week with only Asian indices lagging.<\/p>\n<p>Traders will be watching today&#8217;s upcoming Chinese figures, including the all-important GDP figure, which is expected to be the highest quarterly economic growth since it began releasing such figures 30 years ago.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-268773\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2021\/04\/4-300x83.png\" alt=\"\" width=\"459\" height=\"127\" srcset=\"https:\/\/www.gomarkets.com\/wp-content\/uploads\/2021\/04\/4-300x83.png 300w, https:\/\/www.gomarkets.com\/wp-content\/uploads\/2021\/04\/4-1024x285.png 1024w, https:\/\/www.gomarkets.com\/wp-content\/uploads\/2021\/04\/4-768x214.png 768w, https:\/\/www.gomarkets.com\/wp-content\/uploads\/2021\/04\/4-600x167.png 600w, https:\/\/www.gomarkets.com\/wp-content\/uploads\/2021\/04\/4.png 1377w\" sizes=\"auto, (max-width: 459px) 100vw, 459px\" \/><\/p>\n<p>Source: Bloomberg<\/p>\n<p><strong>Forex markets<\/strong><\/p>\n<p>The US dollar weakened dramatically during the week, under performing all major currencies bar the Canadian dollar. Despite a strong week in Oil, current COVID lock down measures in Canada are causing a headwind for the Loonie.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-268774\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2021\/04\/5-300x135.png\" alt=\"\" width=\"460\" height=\"207\" srcset=\"https:\/\/www.gomarkets.com\/wp-content\/uploads\/2021\/04\/5-300x135.png 300w, https:\/\/www.gomarkets.com\/wp-content\/uploads\/2021\/04\/5.png 477w\" sizes=\"auto, (max-width: 460px) 100vw, 460px\" \/><\/p>\n<p>Source: Bloomberg<\/p>\n<p>The recent run up in the US dollar index in tandem with rising 10 year bond yields has reversed in April as yields stabilise and are starting to decline. Overnight 10 year Treasury yields dropped to 1.57%, its lowest level in a month.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-268775\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2021\/04\/7-300x171.png\" alt=\"\" width=\"447\" height=\"255\" srcset=\"https:\/\/www.gomarkets.com\/wp-content\/uploads\/2021\/04\/7-300x171.png 300w, https:\/\/www.gomarkets.com\/wp-content\/uploads\/2021\/04\/7-600x342.png 600w, https:\/\/www.gomarkets.com\/wp-content\/uploads\/2021\/04\/7.png 602w\" sizes=\"auto, (max-width: 447px) 100vw, 447px\" \/><\/p>\n<p>Source: Bloomberg<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-268776\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2021\/04\/8-300x147.png\" alt=\"\" width=\"463\" height=\"227\" srcset=\"https:\/\/www.gomarkets.com\/wp-content\/uploads\/2021\/04\/8-300x147.png 300w, https:\/\/www.gomarkets.com\/wp-content\/uploads\/2021\/04\/8-600x293.png 600w, https:\/\/www.gomarkets.com\/wp-content\/uploads\/2021\/04\/8.png 602w\" sizes=\"auto, (max-width: 463px) 100vw, 463px\" \/><\/p>\n<p>Source: GO MT4<\/p>\n<p><strong>Commodities<\/strong><\/p>\n<p><strong>Gold<\/strong><\/p>\n<p>Spot gold (XAUUSD) rallied this week on the back of a weaker US dollar.<\/p>\n<p>US CPI figures also came in higher than expected this week, giving gold an extra boost as it is seen as a traditional inflation hedge.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-268777\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2021\/04\/9-300x173.png\" alt=\"\" width=\"465\" height=\"268\" srcset=\"https:\/\/www.gomarkets.com\/wp-content\/uploads\/2021\/04\/9-300x173.png 300w, https:\/\/www.gomarkets.com\/wp-content\/uploads\/2021\/04\/9.png 601w\" sizes=\"auto, (max-width: 465px) 100vw, 465px\" \/><\/p>\n<p>Source: GO MT4<\/p>\n<p><strong>Oil<\/strong><\/p>\n<p>US crude prices rallied strongly this week on continued expectation of a global economic recovery.<\/p>\n<p>Agreed production cuts have also given Oil a boost as OPEC is holding back just over 7 million barrels per day, with Saudi Arabia voluntarily cutting an additional 1 million barrels per day.<\/p>\n<p>From next month OPEC+ will start gradually curbing production cuts. In May OPEC+ will allow an additional 350,000 barrels per day to join the markets.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-268778\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2021\/04\/0-300x173.png\" alt=\"\" width=\"465\" height=\"268\" srcset=\"https:\/\/www.gomarkets.com\/wp-content\/uploads\/2021\/04\/0-300x173.png 300w, https:\/\/www.gomarkets.com\/wp-content\/uploads\/2021\/04\/0-600x346.png 600w, https:\/\/www.gomarkets.com\/wp-content\/uploads\/2021\/04\/0.png 602w\" sizes=\"auto, (max-width: 465px) 100vw, 465px\" \/><\/p>\n<p>Source: GO MT4<\/p>\n<p><strong>Bitcoin<\/strong><\/p>\n<p>The highly anticipated Coin base (COIN) IPO launched this week, with investors piling into the new stock.<\/p>\n<p>This mainstreaming of cryptocurrencies in general and Bitcoin in particular saw strong buying in Bitcoin pushing it through the 60k resistance level and hitting all time highs just short of $65k USD.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-268779\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2021\/04\/000-300x176.png\" alt=\"\" width=\"465\" height=\"273\" srcset=\"https:\/\/www.gomarkets.com\/wp-content\/uploads\/2021\/04\/000-300x176.png 300w, https:\/\/www.gomarkets.com\/wp-content\/uploads\/2021\/04\/000.png 601w\" sizes=\"auto, (max-width: 465px) 100vw, 465px\" \/><\/p>\n<p>Source: GO MT4<\/p>\n<table style=\"height: 171px;\" border=\"1\">\n<tbody>\n<tr style=\"height: 75px;\">\n<td style=\"text-align: center; width: 728px; height: 75px;\" colspan=\"7\"><strong>Monday, 19 April 2021<\/strong><strong style=\"font-family: inherit; font-size: inherit;\">\u00a0<\/strong><strong><br \/>\n<\/strong>Indicative Index Dividends<br \/>\n<em><sup>Dividends are in Points<\/sup><\/em><\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"width: 104px; height: 24px;\" width=\"100\"><strong>ASX200<\/strong><\/td>\n<td style=\"width: 104px; height: 24px;\" width=\"100\"><strong>WS30<\/strong><\/td>\n<td style=\"width: 103px; height: 24px;\" width=\"100\"><strong>US500<\/strong><\/td>\n<td style=\"width: 101px; height: 24px;\" width=\"100\"><strong>US2000<\/strong><\/td>\n<td style=\"width: 108px; height: 24px;\" width=\"100\"><strong>NDX100<\/strong><\/td>\n<td style=\"width: 104px; height: 24px;\" width=\"100\"><strong>CAC40<\/strong><\/td>\n<td style=\"width: 104px; height: 24px;\" width=\"100\"><strong>STOXX50<\/strong><\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"width: 104px; height: 24px;\" width=\"100\">0<\/td>\n<td style=\"width: 104px; height: 24px;\" width=\"100\">0<\/td>\n<td style=\"width: 103px; height: 24px;\" width=\"100\">0<\/td>\n<td style=\"width: 101px; height: 24px;\" width=\"100\">0.005<\/td>\n<td style=\"width: 108px; height: 24px;\" width=\"100\">0<\/td>\n<td style=\"width: 104px; height: 24px;\" width=\"100\">2.808<\/td>\n<td style=\"width: 104px; height: 24px;\" width=\"100\">1.234<\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"width: 104px; height: 24px;\" width=\"100\"><strong>ESP35<\/strong><\/td>\n<td style=\"width: 104px; height: 24px;\" width=\"100\"><strong>ITA40<\/strong><\/td>\n<td style=\"width: 103px; height: 24px;\" width=\"100\"><strong>FTSE100<\/strong><\/td>\n<td style=\"width: 101px; height: 24px;\" width=\"100\"><strong>DAX30<\/strong><\/td>\n<td style=\"width: 108px; height: 24px;\" width=\"100\"><strong>HK50<\/strong><\/td>\n<td style=\"width: 104px; height: 24px;\" width=\"100\"><strong>JP225<\/strong><\/td>\n<td style=\"width: 104px; height: 24px;\" width=\"100\"><strong>INDIA50<\/strong><\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"width: 104px; height: 24px;\" width=\"100\">0<\/td>\n<td style=\"width: 104px; height: 24px;\" width=\"100\">79.017<\/td>\n<td style=\"width: 103px; height: 24px;\" width=\"100\">0<\/td>\n<td style=\"width: 101px; height: 24px;\" width=\"100\">0<\/td>\n<td style=\"width: 108px; height: 24px;\" width=\"100\">0<\/td>\n<td style=\"width: 104px; height: 24px;\" width=\"100\">0<\/td>\n<td style=\"width: 104px; height: 24px;\" width=\"100\">0<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/www.gomarkets.com\/au\/forex-education-courses\/\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" src=\"https:\/\/www.gomarkets.com\/au\/wp-content\/uploads\/2019\/02\/Next-Steps-Blog-Bottom-Banner.jpg\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Equity markets US stocks jumped overnight to reach record levels as stronger than expected print on retail sales and a sharp improvement in the number of new jobless claims cheered the investors. Source: Yahoo Finance US reporting season kicked off this week with impressive results so far from Finance heavyweights JP Morgan, Goldman, BOA and [&hellip;]<\/p>\n","protected":false},"author":48,"featured_media":519224,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4424],"tags":[],"class_list":["post-519223","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency-trading"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>European and US markets hit all time highs, Bitcoin breaks out, the Dollar slides - Wixad<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.gomarkets.com\/en\/articles\/cryptocurrency-trading\/european-and-us-markets-hit-all-time-highs-bitcoin-breaks-out-the-dollar-slides\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"European and US markets hit all time highs, Bitcoin breaks out, the Dollar slides - Wixad\" \/>\n<meta property=\"og:description\" content=\"Equity markets US stocks jumped overnight to reach record levels as stronger than expected print on retail sales and a sharp improvement in the number of new jobless claims cheered the investors. 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