Latest developments in the market

Published on: 28-Oct-2019
Category: Trading
Last updated: 28-Oct-2019

Latest developments in the market

The Dax has reached a new high for trading for a year now. In June 2018, the index was last above the current annual high of 12959 points. The value has dropped again in the meantime, but he holds above the 12900 points and experts see the 13000 points within reach.

In international relations, the trade dispute between China and the US may ease this week. At a meeting of the Chinese Communist Party, a trade agreement could be signed. Experts from CMC Markets see it as a great achievement of the US President, when a contract with the party leadership of China is achieved. Neither party can afford an economic downturn right now.

The cryptocurrency Bitcoin also shows a positive development. The price recovered after a multi-month downturn and rose to over $ 10000 on Saturday night. Last week Thursday, the Bitcoin price was $ 7430, the lowest since May. Since then, however, the price has risen by almost 30 percent. The reasons for the increase are not clear. Some Bitcoin experts suspect positive statements by the Chinese president about blockchain technology as the reason for the price development. The so far falling course is attributed to a hearing of the Facebook boss Mark Zuckerberg before a US congressional committee. It was about the planned cryptocurrency Libra by Facebook and other companies. The project is criticized by politicians and central banks for undermining monetary policy. That could also have damaged the reputation of Bitcoin.


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