What Went on in the Markets?
- China index almost touched 19,000 highs while Nikkei an all-time high of 29,000 points,Stimulus announcement coupled with buying frenzy from yield hungry investors.
- Nasdaq100 has been another big gainer recording an all-time high of 13,600 road running past 10,000 points psychological level at the back of high tech Tesla and Amazon stock outperformance.
- Dow Jones crossed 31,000 points and DAX performance index crossed 14,000 points
- Dollar dipped as US stimulus optimism boosts risk taking EURNZD and EURAUD top volatile pairs going into 2021.
- NZD beat all its G-8 peers to rank as the strongest currency. AUDUSD and GBPUSD Forex market drivers. The overall mood in the Currency markets was Risk-on.
- Gold and Silver range traded showing no explosive moves during the pandemic.
- Oil futures gained from stimulus announcements and Petro-politics.
- Soybean Futures broke 6 year high at around $14.10 per bushel, the sentiment trickled down to Copper which broke the 7 year high affirming a Risk-on tone of the markets.
- Bitcoin achieved a remarkable rise in 2020 in spite of many things that would normally make investors wary, including US-China tensions, Brexit and, of course, an international pandemic. From a year-low on the daily charts of US$3,748 in the middle of March as pandemic fears took hold, bitcoin clocked U$42,000 to see one of the spectacular rise ever.
- Ethereum gained more than 4 times its price from U$300 levels to U$1400. As we prepare to send off this newsletter, Game Stop shares have cause quite the commotion, which only shows the true power of retail investors.