Tuesday Market Recap
| Asset | Current Value | Daily Change |
| S&P 500 | 2546 | 0.12% |
| DAX | 12950 | -0.21% |
| WTI Crude Oil | 50.64 | 2.54% |
| GOLD | 1293.00 | 0.58% |
| Bitcoin | 4880 | 1.96% |
| EUR/USD | 1.1806 | 0.57% |
Financial markets are puzzled after the Catalonian president’s much-awaited speech, as Puigdemont called for a peaceful solution and a dialogue with the Spanish government, but also asked for a mandate to declare an independent Catalonia. The Euro has been rallying throughout the day, and it climbed back above the 1.18 level against the Dollar, but safe-haven assets also advanced compared ot the Greenback in the nervous environment. Gold is now back near the $1300 level after dipping below $1275, even as global stock markets are still hovering just below their all-time highs.
Gold, 4-Hour Chart Analysis
Besides the Euro, currencies were little changes, and equities were also trading with low volatility, despite the political tensions. The Great British Pound and other British assets continued their relief rally, as the positive surprise in Manufacturing Production helped the sentiment. The Japanese Nikkei outperformed the other major indices, as the Yen also climbed against most of its peers, but the moves remained muted. With the OPEC once again heating up the supply-cut argument, even asking the US shale producers to restrain output, crude oil jumped higher by almost 3%, but the long-term fundamental picture remains questionable
Oil, 4-Hour Chart Analysis
Cryptocurrencies
The BTC-up-altcoin-down trend that accelerated yesterday cooled down during today’s session as Ethereum and NEO led a rebound in the segment. Despite the reversal, Bitcoin continued to show strength, topping $4900 after Puigdemont’s speech and pushing the market cap of the coins back above $155 billion for the first time since the recent crash. Ripple has been the other stand-out performer among the majors, but after the coin got short-term overbought, it entered a volatile correction, and dropped by almost 20% top to bottom before recovering a large chunk of the losses. Despite the altcoin-recovery, Bitcoin dominance is still above 52% thanks to the recent restructuring and the strong decline in the value of Bitcoin Cash.
ETH/USD, 4-Hour Chart Analysis
Technical Picture
The DAX is consolidating in a narrow range near the 13,000 level and the MACD indicator is showing a looming correction. That said, a brief break above the crucial level is possible but we expect a test of the 12,850 level before a sustained move higher. As the US indices are more stretched on every time-frame, the German benchmark should outperform them in the coming weeks, with support found near 12,650 and 12,500.
DAX, 4-Hour Chart Analysis
Key Economic Releases on Tuesday
| Time, CET | Country | Release | Actual | Expected | Previous |
| 2:30 | AUSTRALIA | NAB Business Confidence | 7 | – | 5 |
| 10:30 | UK | Manufacturing Production | 0.4% | 0.3% | 0.5% |
| 10:30 | UK | Goods Trade Balance | -14.2 bill | -11.2 bill | -11.6 bill |
| 14:30 | CANADA | Building Permits | -5.5% | -0.9% | -3.5% |
Key Economic Releases on Wednesday
| Time, CET | Country | Release | Expected | Previous |
| 16:00 | US | JOLTS job Openings | 6.06 mill | 6.17 mill |
| 20:00 | US | FOMC Meeting Minutes | – | – |
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