Global Equity Sell-Off Continues, Cryptocurrencies Crash

The Euro and Pound have lost ground, but the Yen has gotten stronger. Gold has been strong. Economic data will be relatively light today.

Global Equity Selloff Continues This Morning, When Will the Bleeding End?

The global equity selloff has continued in Asia this morning. The Nikkei Index has lost more than 6 percent of value. Yesterday’s violent selling on Wall Street produced losses of more than 4 percent on the Dow Jones Industrials and S&P. The widespread losses are a reaction to the strong – and yes – good economic data from the U.S late last week. Investors have been forced to reconsider a potentially more aggressive U.S Federal Reserve. While many analysts believe the current selloff is healthy, the overwhelming question now being heard – is when will the bleeding end? European equities have opened with losses this morning too.

Cryptocurrencies continue to plunge on Tuesday morning. Bitcoin was down 20.21% at $6224 at the time of writing. Ethereum dropped 26% to trade at $597, Ripple $0.60, down 22.83 and Bitcoin cash is down 26% trading at $790.

Global Investors Looking for Balance, Euro and Pound Have Lost Ground

Economic data will be rather light today globally. The Reserve Bank of Australia kept their monetary policy in place early today, and Retail Sales and Trade Balance figures from the nation were lackluster. The Yen has gained swiftly the past twenty-four hours as Asian investors have grown weary of the massive selloff in equities. The Euro and Pound have lost ground and are near important short-term support ratios against the U.S Dollar. Global investors are clearly trying to find their balance as the broad markets remain nervous. Speculators looking for opportunities need to use risk management wisely.

Risk Adverse Buying in Gold, Investors Step in as Inflation Data Allures

Gold bounced upwards in a rapid manner on Monday and is now testing important resistance. The commodity is around 1344.00 U.S Dollars an ounce on a combination of risk adverse buying and investors positioning themselves for stronger inflation.

JOLTS Job Openings Could Provide Jolt, Canadian Trade Statistics

The Jolts Job Openings data from the U.S will receive attention at 15:00 GMT, particularly after last week’s strong employment numbers.

• 13:30 PM GMT, Canada, Trade Balance
• 15:00 PM GMT, U.S, JOLTS Job Openings

Yaron Mazor is a senior analyst at SuperTraderTV.

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