Ether hits record high (ETH/USD)

GURU WISDOM

"The key to making money in stocks is not to get scared out of them." - Peter Lynch
 

MARKETS

*Daily closing price
↗ EUR/USD    1.2134        (+0.48%)
↗ GBP/USD    1.3636        (+0.39%)
↗ USD/JPY    103.89        (+0.19%)
↗ S&P 500    3798.81    (+0.81%)
↗ Hang Seng    29,642.28    (+2.70%)
↗ Gold        1840.50    (+0.21%)
↗ Oil (Brent)    55.96        (+2.21%)
↘ Bitcoin    36,514.0    (-0.50%)
 

NEWS

 

Ethereum

The catch-up trade has taken Ethereum back to its former record highs. Traders had been buying ETH on the relative underperformance to Bitcoin which passed it old highs last year. The last time Ether got this high, the price went on to collapse but wider adoption, institutional interest in crypto, central bank digital currencies and huge government and central bank spending are all reasons to think it could be different this time. ETH futures start trading on the CME in February. 
 

Netflix (NFLX)

The news that Netflix was close to being ‘free cash flow positive’ – meaning it can afford to fund its own daily operations – as well as the idea of stock buybacks saw the share price soar over 13% afterhours. The key metric for judging Netflix growth is net paid subscribers and they jumped by 8.5 million in the last quarter when 6.47 million was expected. There are now 200 million paid Netflix subscribers worldwide.
 

Yellen

The US dollar fell after former Fed Chair and new Treasury Secretary Janet Yellen suggested that the current low interest environment meant it was time to ‘go big’ on government spending. The extra debt and perhaps the extra money printing to keep rates low are pressuring the USD.
 

DAY AHEAD 

*Times in GMT
01:30 - PBoC Interest Rate Decision [3.85% Exp vs. 3.85 % Prev] 
07:00 – UK Consumer Price Index (YoY)(Dec) [0.5 % Exp vs. 0.3 % Prev]
10:00 – Eurozone Consumer Price Index (YoY)(Dec) [Exp     -0.3 % vs. -0.3 %] 
13:30 - BoC Consumer Price Index Core (YoY)(Dec) [1.2 % Exp vs. 1.5 % Prev]
15:00 - BoC Interest Rate Decision [0.25 % Exp vs. 0.25 % Prev]
17:00 - Presidential Inauguration