Ipek Ozkardeskaya
Swissquote Bank Ltd
US stocks gained, the US yields and the dollar slid on the expectation that a divided landscape from the US midterms would support stocks, and soften the dollar.
From an investor point of view, a Republican win in both chambers is a good outcome for the stocks. And even a divided government, which we will sure get, is better for the stocks than a Democrat win.
In cryptocurrencies, there is a drama going on between Binance and FTX, which are two big cryptocurrency exchanges, and that’s causing a renewed trouble across the crypto sector.
Bitcoin fell 10%, below the $20K mark, Ethereum fell near 15%, although the October support hasn’t been damaged yet, and more volatile and more speculation-sensitive tokens fell even sharper. Dogecoin for example lost 20%. What will happen from here?
This report has been prepared by Swissquote Bank Ltd and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.
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