After a sharp drop at the beginning of the trading week the markets have begun to recover. Asian stock markets also went up after the US session.
Yesterday the US Treasury Secretary Mnuchin said that the increased volatility and the fall of the index only reflects a correction in the market, but does not affect the financial stability of the economy as the indicators are on top. He also voiced the view that the US economy needs a strong dollar, but this statement is not strongly reflected in valuations. In his speech he addressed the Congress with a call to raise the national debt limit.
Against the background of the market recovery, cryptocurrency demand also returned and thus the growth of Bitcoin pulled over the whole market for cryptocurrencies. At the moment Bitcoin costs close to $8,000 and its capitalization rose to $132 billion.
Today we have speeched by FOMC members Dudley and Kaplan, as well as by the head of the Federal Reserve Bank of Chicago Charles Evans.
In New Zealand today will be published a decision on the interest rate, followed by a report on monetary policy.
