Market Snapshot – Stock Markets Trade in a Strong Manner

Stock Markets Buoyant

The stock markets rushed higher during the course of the day yesterday as the risk sentiment across the globe improved during this period. As a result of this, we have the US stock indices moving higher and the Asian and European stock markets have taken a cue from that and moved higher in due course of time. The European stock markets have received a further boost from the dovish view of Draghi about the Eurozone economy which is likely to have an impact on the tapering and ending of the QE in due course of time. There was an impression early on, a few months back, that QE would be ended quickly as the economy was growing by leaps and bounds and there was also talk of the first rate hike happening in the beginning of next year but so far, the economic data has been showing a downtrend over the last few weeks and this is bound to affect the view of the ECB. Draghi spelled out as much in his press conference yesterday and this has helped the Euro markets higher though it has pushed the euro lower.

BTC Rebounds from Support

The cryptocurrency markets have staged a rebound over the last 24 hours as the BTC prices have bounced off strongly from the support region and the other cryptos and tokens have followed suit as well. This has sent out a statement to the traders and the investors that the bulls continue to be in control over the short and medium term and we should see some strong follow through in the coming days. For now, the traders would be waiting for the prices to head towards the $10,000 region and a clean and follow through in that region would mean that the BTC prices would be heading towards the $11,500 region in the medium term.