The Dow Jones set a new high to start the trading week, as markets geared up for a big few days of meetings from key Central Banks.
The main being the FOMC meeting this Wednesday, which has seen traders already taking their positions prior to the event.
Many believe that inflation will be a huge discussion point this week, as such former Fed chair, and now Treasury Secretary Janet Yellen, gave her views on the matter.
In an interview she stated, “Currently the risk of inflation is small and manageable. I don’t think it’s a significant risk, and if it materializes, we’ll certainly monitor for it, but we have tools to address it.”
The benchmark S&P 500 also rose on Monday, closing in on its own record high of 3963.
Bitcoin rallies to new high over $60,000
Another weekend has passed, and yet again another key milestone has been reached in the world of Cryptocurrency.
This time, Bitcoin broke above the $60,000 level as it set yet another record high, this time trading at a high of $61,742.
The move came despite the news that India will propose a law banning cryptocurrencies, and subsequently fining anyone who trades or even holds these digital assets.
As with recent ATH’s in BTCUSD, prices have since dropped back, with many likely closing their trades.
BTCUSD is currently trading at $56,627.
Related: An Agitaded Week For Bitcoin
AstraZeneca vaccine suspended in Europe
Several countries in Europe have made the decision to suspend the circulation of AstraZeneca’s COVID-19 vaccine, amid concerns of blood clots.
After firstly being suspended by Ireland, Germany, France, Italy and the Netherlands moved to take similar action.
The concern raised is that the jab in some cases may cause blood clotting issues, however many have stated that the suspension is only one of precaution.
Irish PM Micheal Martin stated, “There is no causal effect established or anything like that yet, but as a precautionary move in line with the precautionary principle, our clinical advice was to pause the program whilst the EMA does a review of this”.
Both the European Medicines Agency and AstraZeneca have so far pushed back on concerns.
Quote of the day – “Every trader has strengths and weaknesses. Some are good holders of winners but may hold their losers a little too long. Others may cut their winners a little short but are quick to take their losses. As long as you stick to your own style, you get the good and bad in your own approach.”– Michael Marcus
Senior Market Analyst