Market Watch. Oil, Rates, Bitcoin

Market Watch. Oil, Rates, Bitcoin

PT2M54S | Video has closed captioning.

2024-12-23T09:37:21+0800

🔻 Description and useful links below 🔻 Become a trader with FIBO Group! Start trading without risk https://mt.fibogroup.com/user/register?utm_source=youtube&utm_medium=content&utm_campaign=fibo-en Trading platforms for desktops and mobile devices https://www.fibogroup.com/products/platforms/?utm_source=youtube&utm_medium=content&utm_campaign=fibo-en Trading Terms: https://www.fibogroup.com/products/account-types/?utm_source=youtube&utm_medium=content&utm_campaign=fibo-en Hi, everybody, it's FIBO Group and you are watching to the Market Watch review. 00:00 | Market Watch. Oil, Rates, Bitcoin 00:08 | Oil under pressure 00:39 | Key rates decisions in the spotlight 01:19 | FX market reaction 02:01 | Is Bitcoin's growth complete? Oil under pressure On Tuesday, oil prices were trading near seven-week lows due to a weakening demand forecast, which affected commodities. While bond, currency and equity markets are trading cautiously ahead of central bank meetings in the US and Japan and a series of major corporate reports. WTI futures extended their decline and seem ready to overcome support in the $75.50 per barrel area. Significant resistance to the fall in quotations can be found in the area of $73.00. Key rates decisions in the spotlight The S&P 500 index stabilized after a two-week decline, and futures fell 0.4% at the beginning of the Asian session, as attention is focused on two-day meetings in Washington and Tokyo, which will end on Wednesday with interest rate decisions. Markets are practically not counting on a rate cut in the United States this week, but they have fully taken into account a 25 basis point rate cut by September. In Japan, a wider range of outcomes is on the agenda, and markets are estimating a 10 basis point 60% chance of a rate hike, expecting the Bank of Japan to announce plans to phase out its massive bond purchase program. FX market reaction Meanwhile, in the foreign exchange market, the dollar and yen remained in narrow ranges and took a breather after recent breakouts. The euro was worth $1.0850, but formed an impulse exit from the range, although it met resistance to further decline. In turn, the Australian dollar, which is declining due to falling commodity prices, was under slight pressure. The Aussie, which was worth almost $0.68 less than three weeks ago, was trading at $0.6550. The yen, which had strengthened sharply from a 38-year low of 161.96 per dollar reached in early July, was at 154 per dollar. Is Bitcoin's growth complete? And now to the crypto markets. The local growth of Bitcoin, one of the triggers of which were probably the statements heard by the community at the Bitcoin 2024 conference in Nashville, is currently complete. The price of the asset, having overcome the local maximum in the area of $68400 and faced resistance caused by sales in the area of historical highs, adjusted downwards. In the event of a resumption of growth, resistance in the area of price peaks remains relevant. With a decline, the nearest target will be the $62,000 - $63,000 zone. The probability of further decline will need to be assessed based on price dynamics near these levels. If you liked the explanation, like and subscribe to the FIBO Group channel! Simple, clear and accessible about financial analysis and latest market reviews in our social networks: Facebook: https://www.facebook.com/FIBOGroup.Int/ Instagram: https://www.instagram.com/fibo_group_forex_broker/ Telegram: https://t.me/s/FIBOGroupOfficialEN #forexforecast #bets #forexmarketanalysis #fibogroup #forexanalytics #forex #forexmarket #USD #foreignexchangemarket #forexbroker #economiccalendar #BTC #USA