Kazakh unrest shakes energy, uranium and Bitcoin [Video]
|Selloff in equities stabilizes, with the S&P500 and Nasdaq closing the day with minor losses only. US and European stock futures turned positive in the overnight trading session, hinting at consolidation before the weekly closing bell. Yet, uncertainties persist as investors got unsettled with the latest FOMC minutes this week.
Important for the mood today will be the US jobs data. On Wednesday, the ADP report revealed a much better-than-expected number. Today, the NFP is expected to reveal that the US economy added 400’000 new nonfarm jobs. But the jobs data doesn’t matter much for the Fed policy expectations right now, what matters for the Fed is inflation.
Elsewhere, the unrest in Kazakhstan is shaking the energy, uranium, and Bitcoin markets.
Selloff in Bitcoin intensifies with the lack of risk appetite and the internet shutdown in Kazakhstan due to the mounting social unrest. Kazakhstan is one of the biggest power houses for Bitcoin miners, and the internet shutdown in Kazakhstan hits Bitcoin’s computational power. The coin is now ready to test the $40K psychological support, which may not bring in the dip buyers just yet, as the prospects of a tighter monetary policy will likely continue weighing on the mood.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.