- ASX 200 is set to open 18 points or 0.3 per cent higher this morning.
- Bitcoin catches breather and falls over 15 per cent after rallying past US$58,300.
- WTI crude oil again resumed its uptrend and rallied by 4.63 per cent to US$61.66 a barrel.
Yesterday, ASX 200 started the week with a downtick of 0.19 per cent or 12.9 points, and the index closed at 6780.9. However, today, the markets are set to break the downtrend and set for a green Tuesday. According to ASX 200 futures, the benchmark index is set to open 18 points or 0.3 per cent higher this morning.
The closing at wall street was again mixed, but the broader direction was on the negative side. The Down Jones closed the session up by 0.09 per cent as the oil and gas sector and basic materials sector propelled stocks higher. The S&P500 was down by 0.77 per cent, while Nasdaq took a hard hit of 2.46 per cent as technology stocks dragged the index.
The CBOE Volatility index rose by 6.3 per cent (as at 8:24 AM AEDT), while the ASX 200 VIX index fell by 2.13 per cent in yesterday’s session.
Bitcoin catches breather after rallying past US$58,300 as Janet Yellen calls Bitcoin “highly speculative” and “inefficient” for the transaction. After the comment, Bitcoin crashed over 15 per cent in the blink of an eye. Other cryptos such as Ethereum also crashed over 20 per cent in a day on high volumes.
AUD/USD continues to rally on the back of a breakout given yesterday and is up by a total of 0.64 per cent for this week so far.
Crude oil rebounds
After two sessions of a decent correction, WTI crude oil again resumed its uptrend and rallied by 4.63 per cent to US$61.66 a barrel. The winter freeze in the US might have made a more profound impact on the US energy producers, which is reflected in the crude oil prices.
Gold has started to show some recovers after a straight one-sided fall. Gold has risen for the second consecutive day and is trading 1.39 per cent up at US$1808.22 an ounce. Gold miners such as Newcrest Mining Limited (ASX:NCM) and Evolution Mining Limited (ASX:EVN) might lead the markets today.
Crown Resorts Limited (ASX:CWN) has been ordered an inquiry by Royal Commission to establish the Crown's suitability to hold the Victorian casino license. The shares might come under some selling pressure. Seek Limited (ASX:SEK) is coming out with its half-yearly numbers today.