🌅 Morning Wrap (12.11.2024)
📈 The week has kicked off with major rallies across cryptocurrency markets.
🔸 Bitcoin is at a record-breaking $89,000 🏆, and Ethereum is holding around $3,300, its highest level since July. This morning, however, both have slowed, trading close to yesterday’s closing levels. Remember, bitcoin surged as much as 10% yesterday!
🚀 Dogecoin is shining bright, up 25% today!
🗓️ Macro Calendar Highlights:
🇩🇪 German inflation data🇬🇧 UK labour market report🇩🇪 ZEW data from Germany📢 Multiple speeches by Fed bankers later today
🌏 Asian Markets are mostly down. Concerns over the economic outlook in China and ongoing trade tariffs are weighing on indexes:
🇭🇰 Hang Seng: -3%🇯🇵 Nikkei 225: -0.6%🇰🇷 KOSPI: -1.9%
🏘️ In China, fresh discussions around new regulations: authorities may allow cities like Shanghai and Beijing to reduce property deed tax to 1% (from up to 3%).
🇦🇺 Australia: Consumer confidence rose in November, supported by optimism around the Reserve Bank’s rate cuts. Business confidence also increased, though business conditions remained stable.
💲 Market Sentiment: Trends from recent sessions are largely continuing. The US dollar remains strong, putting pressure on precious metals and oil:
Silver: down 1.2% and dipping below the 100-day EMA.
🌅 Morning Wrap (12.11.2024) was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.