Market Snapshot – Stocks and Cryptos Stable and Strong

Stock Markets Stable

The stock markets have been doing generally well as they await the NFP data from the US later in the day today. The DAX continues to trade near the highs of the broken range and this should bode well for the short term as far as the bulls are concerned. Though the US stock indices slipped a bit yesterday, this can be considered as some profit taking and correction ahead of the major news today. With the NFP having failed to meet expectations last month, it is generally expected that the NFP data this time around would come in strong today and if and when that happens, it should be a boost to the markets at this point of time. The earnings data from the various companies in the US have been coming in over the last couple of weeks and they have been generally good and have been able to sustain the move higher in the stock indices.

Crypto Markets Higher

In the crypto market, the move higher has well and truly begun. It seems as though it is only going to be a matter of time before the BTC prices break through the $10,000 region. Once that is done and dusted, we should be seeing the $11,500 region as the next target for the bulls in the medium term. The ETH market, on the other hand, is on fire at this point of time and is just short of the $800 region as of this writing. The industry has been buoyed by the scaling solution that has been suggested by the ETH founder and this buoyancy is expected to spur the markets along in the short and medium term as well. As more and more people understand the importance of the new scaling solution, we should see the ETH network being spurred on even more which should in higher prices in due course of time.