As the lunar New Year passes and traders are back at their desks but there was no present for them from the stocks. The greenback, on the other hand was a bigger surprise for the American traders after the President's day. There is also news on crypto regulations from the USA and hope for Koreas. Also Morgan Stanley officials say that the recent market crash is only but a small taste of what is to come.
Will the Olympic Games improve Koreas’ relationship?
Olympics – a perfect time to set all the differences aside and celebrate diversity. This sounds so perfect that when it actually happens it calls for the whole world’s attention. And these Games are special in the regard as the two countries, that seem to be finally joined together are North and South Koreas. The war between the two countries ended 65 years ago, but tension is still there.
It is no secret that the two countries of the Korean peninsula are separated by the militarized zone and the abyss of political and social views. But after people from the two countries have marched at the opening ceremony of 2018 Olympic Games there was hope. A hope for the so long-awaited piece. But no everyone on the South Korea believes in miracles.
Conservative party thinks that North Korea can go into manipulative game and try and stop the South Korean cooperation with the USA in exchange for promises to stop nuclear testing. A promise, that will, of course, be broken.
For now it is too early to judge the intensions of both sides and just the right time to celebrate the joining of two countries.
White House is not going to crypto-regulate.
Rob Joyce, special Assistant to the President, Cybersecurity Coordinator, The White House USA has issued a statement saying, that the White House will not be going into crypto regulating any time soon.
The statement was issued during the press conference that took place in Munich, Germany. There, Joyce, who has 30 years of work experience in the National Security Agency said that the special treatment should be implemented towards Bitcoin and other cryptos. This statement really contradicts the wish of other governments to make rash and rapid decisions.
Although Joyce did not negate the criminal side of the crypto usage and while some of the transactions are anonymous the process of regulating will face difficulties.
Morgan Stanley says that the market is going to crash harder.
According to Morgan Stanley what happened to the US stock market two weeks ago is nothing but an “appetizer” for what can really happen to the market and that the worst is yet to come.
Andrew Sheets – banks’ strategist says that although the corrections for some bond yields were hard for the majority of the investors to take in, the drop wasn’t not special – it didn’t even break the five-year range.
As investors are awaiting more regulations in case the stocks are going to go out of tis 5-year range and this can really hurt yields on bonds and stocks.
Stocks, currencies and crude overview.
Asia has resumed the trading after the long holidays and the markets are reacting to the changes as both Asian stocks and currencies are reacting. Although seems like both of them don’t really like it when the traders are taking long weekends, so they greeted them with the red light.
Japan’s Topix is showing 0.7% decline.
Nikkei 225 Stock Index has gone down by 1%.
MSCI Asia Pacific fell 0.5%.
South Korean Kospi lost 1.1 percent.
Yen extends its fall with losing 0.3 percent and for today the exchange rate is 106.90 yen per one dollar.
Euro is a little bit in the loss and the cost is today $1.2375.
WTI crude rose 1 percent to the cost of $62.31.
Gold fell today to the point of $1.339.94 and silver costs 16.473.
