The queen cryptocurrency is reaching unprecedented levels.
Bitcoin continues its frantic race for records this Tuesday, approaching the $90,000 threshold thanks to the victory of Donald Trump and his deregulation program, when the stock markets are worried about the increase in customs tariffs promised by the future president of the UNITED STATES.
The asset gained 1.08% compared to the day before, to $88,935. For comparison, it was trading below $70,000 before the November 5 presidential election.
“Donald Trump will likely remove skeptics from government institutions and replace them with regulators favorable to cryptocurrencies,” notes Ipek Ozkardeskaya, analyst for Swissquote Bank.
On the stock market side, on the other hand, it is the increases in customs tariffs promised by the elected president of the United States that are worrying.
Customs duty on the rise
“European investors are bracing for the impact of a 10% tariff imposed by Trump,” explains Stephen Innes, analyst at SPI Asset Management.
In the first exchanges, the European markets were moving in decline. Around 8:20 a.m. GMT, Paris lost 1.01%, London 0.55%, Frankfurt 1.03%. Milan fell by 0.68%.
They erased part of their gains from the day before, a sign of the volatility which has reigned on the indices of the Old Continent since the victory of Donald Trump.
Investors are oscillating between hopes regarding promises of deregulation and tax cuts for companies, and fears about increases in customs duties for European companies.
In Asia, the time is also for pessimism: Donald Trump has promised to increase customs tariffs of up to 60% for Chinese products, which should not help the situation of the second largest economy in the world, which has been sluggish for several months.
Hong Kong a perdu 2,95 %, Shanghai 1,39 % and Shenzhen 0,65 %.
Especially since the markets remained hungry after the announcement at the end of last week by Beijing of an increase of 780 billion euros in the debt ceiling of local authorities to support its economic activity.
This plan “lacked additional stimulus measures to support the sluggish consumption in China and the difficulties in the real estate market”, estimated Charu Chanana, currency strategist at Saxo Capital Markets.
Low oil
On the foreign exchange side, the dollar continued to gain ground, benefiting from expectations of a more restrictive monetary policy due to the inflationary risks of Trump’s program, which should slow down the dynamic of lowering rates by the American Federal Reserve. The greenback gained 0.23% to 1.0631 dollars per euro.
Interest rates on the benchmark US ten-year bond reached 4.36%, compared to 4.30% the day before.
Disappointments with the recovery plan in China, a major consumer of crude oil, are not helping to stimulate prices. Investors are also awaiting the publication this week of monthly reports from OPEC and the IEA on production.
Around 8:20 a.m. GMT, the price of a barrel of North Sea Brent (for the European market) remained stable, gaining 0.15% to $71.94 and its American equivalent, a barrel of West Texas Intermediate (WTI) took 0.13%, to 68.13 dollars.
