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Tesla buys $1.5 billion Bitcoin

AUD/CHF – Weekly Candlesticks
Source: GKFX / MT4 (February 9, 2021)

AUD/CHF is breaking out after a 3-week pause underneath major resistance at 0.69. The level represents the neckline to a very extended inverse head and shoulders bottom. Using the height of the pattern as a tool to define the objective, AUD/CHF could reach 0.84.
 

TAKEAWAYS


•    Bitcoin hit a record high of $44,000 after Tesla has invested $1.5 billion into Bitcoin
•    Dogecoin reaches new records after tweets from Snoop Dogg
•    Dow Jones has first 6-day win streak since August
•    S&P 500 closes over 3900 for first time, all major US indices hit record high
•    Nikkei crosses 29,000 for first time since 1990 (a 30-year high)
•    Germany’s DAX 30 index hits fresh record high
•    Brent crude oil reaches over $60 per barrel for first time in over a year
•    30-year US Treasury yield rises over 2%
•    Trump 2nd impeachment trial begins on Tuesday
•    DAY AHEAD: Twitter earnings, Cisco earnings, Germany trade balance
 

GURU WISDOM


“The philosophy of the rich and the poor is this: the rich invest their money and spend what is left. The poor spend their money and invest what is left.” - Robert Kiyosaki
 

MARKETS


*Daily closing price
↗ EUR/USD    1.2050        (+0.01%)
↗ GBP/USD    1.3740        (+0.01%)
↘ USD/JPY    105.25        (-0.14%)
↗ S&P 500    3915.59    (+0.74%)
↗ Hang Seng    29,319.47    (+0.11%)
↗ Gold        1830.65    (+0.69%)
↗ Oil (Brent)    60.68        (+1.29%)
↗ Bitcoin    44.705        (+15.1%)
 

NEWS

 

Bitcoin & Tesla


After days of Tesla Founder and CEO tweeting about Bitcoin and Dogecoin, it appears the world’s richest person has put his money where his mouth is. The Tesla investment of $1.5 billion of its company cash reserves is expected to create a ‘domino affect’ whereby other corporate executives will feel compelled to diversify some of their spare cash into cryptocurrencies as a store of value. 
 

S&P 3900


A rally in financial and oil stocks and other ‘reflation trades’ pushed the S&P 500 to close over the key threshold of $3900 for the first time, while the Dow notched up a 6-day win streak. The latest Democrat stimulus proposals include money for airlines and a revamped child-benefit program for families.
 

Nikkei 225


The largest 225 companies in Japan reached their highest value since 1990 on Monday. Japanese companies have seen an average 15% rise in operating profits in the last quarter, reversing the 15% drop in the prior quarter. Industrial companies have been leading the gains amid the reflation trade. SoftBank shares gained 4% afterhours after reporting its best quarter since 2017.
 

DAY AHEAD 


*Times in GMT
07:00 – Germany Trade Balance s.a.(Dec) [€16.3 B Exp vs. €16.4 B Prev]
15:00 – US JOLTS Job Openings (Dec) [6.4 M Exp vs. 6.527 M Prev]
15:00 - ECB's Phillip Lane speech
 

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