MARKTKOMPASS
Global markets are set to end a week in which the geopolitical agenda has been more prominent than macro developments, and while digital assets continued their rally that started on Dienstag with dip buying, there is a mixed picture in the markets in general. In Europe, where PMI data is monitored, indices are slightly positive ahead of the critical German elections on Sonntag. Wall Street futures, on the other hand, point to a bullish start to the new day with the exception of Dow Jones. Later in the day, we will watch the PMI data to be announced for the US. We maintain our expectation for crypto assets to be horizontal-volatile in the short term, slightly pressured in the medium term and bullish in the long term.
From the short term to the big picture.
Trump’s victory on November 5, one of the main pillars of our bullish expectation for the long-term outlook in digital assets, produced a result in line with our predictions. In the process that followed, the appointments made by the president-elect and the increasing regulatory expectations for the crypto ecosystem in the US, as well as the emergence of BTC as a reserve, continued to take place in our equation as positive variables. Then, 4 days after the new President took over the White House, he signed the “Cryptocurrency Working Unit” decree, which was among his election promises, and we think that the positive reflection of the outputs it will produce in the coming days on digital assets may continue.
On the other hand, the expectations that the FED will continue its interest rate cut cycle, albeit on hiatus for now, and the fact that the volume in crypto-asset ETFs indicates an increase in institutional investor interest, support our upside forecast for the big picture. In the short term, given the nature of the market and pricing behavior, we think it would not be surprising to see occasional pause or pullbacks in digital assets. However, at this point, it is worth underlining again that we think the fundamental dynamics continue to be bullish.
HIGHLIGHTS OF THE DAY
Wichtige Daten des Wirtschaftskalenders
| Zeit | Nachrichten | Erwartung | Vorherige |
|---|---|---|---|
| 14:45 | US Flash Manufacturing PMI (Feb) | 51.3 | 51.2 |
| 14:45 | US Flash Services PMI (Feb) | 53.0 | 52.9 |
| 15:00 | US Existing Home Sales (Jan) | 4.13M | 4.24M |
| 15:00 | US Michigan Consumer Sentiment (Feb) | 67.8 | 67.8 |
| 16:30 | FOMC Member Jefferson | - | - |
INFORMATIONEN
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RECHTLICHER HINWEIS
The investment information, comments and recommendations contained herein do not constitute investment advice. Investment advisory services are provided individually by authorized institutions taking into account the risk and return preferences of individuals. The comments and recommendations contained herein are of a general nature. These recommendations may not be suitable for your financial situation and risk and return preferences. Therefore, making an investment decision based solely on the information contained herein may not produce results in line with your expectations.
