Crypto rising, BoE aftermath

Important news for the day

• Fri, 09th, 14:30 CET        CA        Unemployment Rate.

BoE rate decision

The Bank of England has cut interest rates as it was previously expected. The Pound has stabilized against other currencies but in the end also lost momentum falling some renewed strength of the Dollar in general. Crypto markets have started to march higher potnetiall ready to push even further. The current rise might cause Bitcoin to only trade slightly higher for now as Altcoins continue to gear up further momentum.

Market talk

The trade deal between the US and the UK only revealed limited advantage for the UK as compared to the time before Trump was President in the US. The UK would not have to pay the extra 25% tariffs on cars and metals whereas the extra 10% on most other products will remain the same. The Dollar has then geared up some momentum in general and equities were rising following the news. Worth noting that the German DAX has broken out of the technical resistance zone to the upside and might indicate more upside momentum ahead.

Tendencies in the markets

• Equities positive, USD stronger, cryptos strong, oil stronger, Silver positive, Gold correcting, JPY weaker.