Global stocks soared when China's central bank decided not to tighten

 

With the US markets closed for the June 16 holiday season, Asian and European markets have mostly risen higher.



China's central bank overnight rejected the opportunity to cut its prime rate, showing that it is still more concerned about the overall leverage in the economy than about the recession in consumption due to the cases. blockade by COVID-19.



Meanwhile, European markets are affected by news that French President Emmanuel Macron has lost a parliamentary majority in his elections to the French House of Representatives over the weekend. French bonds underperformed in the morning session.



European Central Bank President Christine Lagarde will speak before the Parliament of the European Union at 09:00 am ET (1300 GMT).


4. Bitcoin recovered, but the DeFi segment still struggled

Bitcoin bounced back, breaking out of a five-day down streak after briefly falling below $ 20,000 over the weekend.



By 6:30 a.m. ET, it was trading at $ 20,502, up 3.0 percent from late Sunday. However, it dipped below $ 18,000 on Saturday, falling below the previous cycle's highs for the first time in 2018.



However, the pressure on less liquid cryptocurrency networks continues to create the problem. Celsius Network, one of the few lenders forced to suspend withdrawals last week, said it would need more time to recover, while the DeFi Bancor platform suspended the so-called ' 'Permanent loss protection' less than a month after launching it.


Solend, a network that runs on the Solana blockchain, says it has taken over a whale wallet to reduce systemic risk.



5. Oil prices continue to decline

Crude oil prices prolonged the decline, although the pace of sale was slowed down in Friday's session due to concerns about the economic recession.


Before 6:30 a.m. ET, US crude oil futures fell 0.4 percent at $ 107.53 a barrel, while brent oil fell 0.8 percent at $ 112.20 a barrel.


Newswires reported that Libya was trying to restore production to 800,000 barrels a day as the wave of protests caused the disrupted export facilities to subside. The outlook for increased US supply also continued to improve, with Baker Hughes' rig count quadrupling to a 26-month high of 584 last week.

Previous Post Next Post

Recent in Sports

Join our Team