14.03.2019: Dollar and Bitcoin resume rally (USD, CAD, BRENT, BTC)
At the opening of the American trading session the investor sentiment remained unchanged. The pound sterling was trading mixed ahead of yet another vote on Brexit in the UK Parliament. At the same time, the euro lost ground against the US dollar amid downbeat inflation data from Germany.
Meanwhile, the American dollar was trying to recoup losses and get back to the levels seen at the start of yesterday’s trading session. The US dollar index managed to recover 35 points and rise to the level of 96.80.
Despite upbeat economic statistics from the United States, dollar bulls were reluctant to open more deals. Today’s report showed that the import prices grew at the fastest pace in the past 9 months – by 0.6%, which signals that the inflation can speed up.
The American dollar managed to offset losses against the Canadian dollar. The USD/CAD pair advanced by 50 pips towards 1.3340. The loonie was falling despite a rise in oil prices.
Oil futures were trading high amid yesterday's report on a plunge in crude oil inventories in the United States. There was one more favorable factor. Reportedly, the OPEC+ deal on cuts in oil output can be extended until December. The Brent crude benchmark was hovering below the level of 68 dollars per barrel.
Bitcoin also skyrocketed at the opening of the American session. It added 1%, breaking out of the lingering sideways trend. The cryptocurrency approached the level of 4,000 dollars per coin.
The digital money made such a sharp movement for no reason at all. Thus, this trading instrument has proved to be quite unpredictable once again. That is all for today. We wish you hefty profits. See you on our channel tomorrow.
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