ZuluTrade Blog

Nasdaq and Bitcoin new highs

Market View | Thursday, December 17, 2020 1:40 PM GMT

The Nasdaq hit an all-time high yesterday driven by the FED’s interest rate announcement, however, the US dollar currency index remains stubbornly low, dropping as far as 91. In other news, Bitcoin has ventured beyond the $23000 frontier, reaching $23774, and surging more than 10% from the previous session.

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US news: As expected, FED decided to keep interest rates unchanged. Yesterday while speaking to the press, Jerome Powell, US FED’s Reserve Chair, said he expects a strong economic rebound during the second semester of 2021, stating the next four to six months critical to the expected bounce back. If necessary, the FED may buy more bonds / longer-term bonds in order to support the economy during the pandemic crisis. 

In other news, Joe Biden, the US President-elect, announced he will be administered the COVID-19 vaccine in public in order to demonstrate its safety to the American people. 

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EU-UK news: Brexit remains at the top of headlines as Priti Patel, UK Home Secretary, stated  they are fully prepared to face a no-deal outcome, although negotiations are ongoing with both parties still trying to overcome major obstacles. 

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Corporate news: Canadian Cannabis corporations, Tilray and Aphria, have announced a landmark merger, creating the world’s largest Cannabis company. The merged company will keep the Tilray name, while Aphria’s CEO Irwin Simon will head the company. In other corporate news, war has broken out between Facebook and Apple, with the social media giant accusing the iPhone giant that its new iOS 14 operating system will block crucial advertising platforms negatively impacting small businesses.   

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Macros: Earlier today, the AU unemployment rate fell to 6.8% while the Eurozone’s inflation rate remained stable at 0.2%. It is expected the BoE interest rate will remain the same, without any major surprises. It is forecasted the US Initial Jobless Claims are expected to be 815k, which will be confirmed later today.


The views expressed do not constitute investment or any other advice /recommendation /suggestion and are subject to change. Reliance upon information in this material is at the sole discretion of the reader. Opinions expressed in the report do not represent the opinion of ZuluTrade Social Trading Platform and do not constitute an offer or invitation to anyone to invest or trade.

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