Daily Market News: UK Parliament is out of order

forex market crypto news and updates

Mati Greenspan, Senior Market Analyst at FX broker eToro, has provided his daily commentary on traditional and crypto markets for September 10, 2019. The text below is an excerpt and does not contain the full analysis.

Today’s Highlights

  • Parliament is Out of Order
  • 5G Portfolio
  • Some added Pressures

Please note: All data, figures & graphs are valid as of September 10th. All trading carries risk. Only risk capital you can afford to lose.

Traditional Markets

Focus is back on Brexit today but it seems this is probably the last we’ll be hearing about it for a bit as the UK Parliament has now been thrown into a 5-week recess.

After losing several votes, Prime Minister Johnson decided that he’s better off not dealing with the opposition and sent them on an unwanted holiday. Not to worry though, they will be back on October 17th. Two weeks before Brexit’s current scheduled date.

The British Pound is taking this news surprisingly well. As we can see the GBPUSD has bounced off the key level of 1.20 earlier this month and seems to be holding up just fine for now.

5G Tech Portfolio

It seems that 5G technology is taking the world by storm. This new network is set to vastly increase internet speeds. These days we’re used to seeing speeds of 20 to 50 megabytes per second. With 5G that number easily comes up over 1000 mbps. Here’s a cool video that explains it.

Here at eToro, we see this as an investable trend and true to form, have put together a thematic, ready-made investment portfolio for you.

You can already check out the new @5GRevolution CopyPortfolio on the platform.

This is not investment advice or anything, but I’ve already added it to my personal portfolio for the sake of diversification as it contains many telecom stocks that I didn’t previously have exposure to.

Some Crypto Pressures

As crypto markets remain stagnant, I did want to point out a few pressures that are facing certain cryptocurrencies like Ethereum and XRP (don’t kill me).

Even bitcoin is going through a rather bearish technical setup right now.

I’ve explained all this and more for you in this week’s Weekly Interview with Cointelegraph.

Now, if you’ll kindly excuse me, I’m about to watch our CEO Yoni Assia face-off with famous Bitcoin maximalist Udi Wertheimer in what is sure to be a ferocious debate about the viability of smart contracts. The stage is already set.

Have a fantastic day ahead!

Mati Greenspan can be found on LinkedInTwitter, or etoro

This is a marketing communication and should not be taken as investment advice, personal recommendation, or an offer of, or solicitation to buy or sell, any financial instruments. This material has been prepared without having regard to any particular investment objectives or financial situation, and has not been prepared in accordance with the legal and regulatory requirements to promote independent research. Any references to past performance of a financial instrument, index or a packaged investment product are not, and should not be taken as, a reliable indicator of future results. eToro makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared utilizing publicly-available information.

Read Also: