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Some BIG Numbers Affecting Markets

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Some BIG Numbers Affecting Markets

Introduction

This article was posted on Tuesday, 11:16, UTC.

There are a bunch of big numbers being thrown around the markets today.

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Let’s take a look at some of them and how they can create some moves.

Mati Greenspan
eToro, Senior Market Analyst

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Please note: All data, figures & graphs are valid as of June 27th. All trading carries risk. Only risk capital you’re prepared to lose.

Market Overview

Warm congratulations to the government of Great Britain for pulling itself together. Theresa May managed to strike a deal yesterday with the Northern Irish DUP giving her the 10 magic seats needed to form a majority government.

The price…

Infrastructure spending in Northern Ireland: £1 Billion

The GBP fall since the election: 2.5 cents on the Dollar

Staying in the seat of power: Priceless

The number 1 Billion also came up in Alphabet today. EU courts are set to deliver a verdict on Google’s high-profile search manipulation case. The expected result is a fine of €1 Billion.

Looking past the number, people will want to know more specifically how the EU will impose further infractions of SEM (search engine manipulation) in the future.

22,000,000

Donald Trump’s latest plan to repeal and replace Obamacare will reportedly leave 22 Million Americans without health insurance over the next decade.

This number was a bit too large for many politicians to swallow and several members of the Republican party have already backed out.

Though health care and tax reform seem to continuously elude President DJ Trump, he did pull off a win with his travel ban. Citizens of 6 Muslim-majority countries, who have no current relations in the US, will not be allowed to travel to the USA for the time being.

The stock markets seem to be holding up just fine with the three major US indices trading at near record highs. The Asian session went off without a hitch. European markets are just opening now but not looking so hot.

The CAC and the DAX are down about 0.5% out of the gate.

1.8 Million Ounces

Another rather large order was placed on gold yesterday. According to reports, 1.8 million ounces were traded in under a minute. This is more than the total volumes on the night of the Brexit referendum or the night of Trump’s election.

Many analysts are calling this a fat-finger mistake and saying that some young trader must have accidentally pressed the wrong button. I don’t buy that for a single minute.

To me, this seems far more likely to be a case of market manipulation. We had something very similar on June 8th, that was also thought to be a mistake. I mean, come on, what are the odds of two major mistakes of this proportion with this amount of money involved in a single month???

On the chart, this recent drop brought the price almost exactly low enough to touch the bottom line of the upward channel that we’ve been tracking.

$24 Billion

The so called bloodbath in the cryptomarkets has claimed many victims already. The total retracement from the peak has seen a total loss of value of $24 Billion wiped off the total valuation of the crypto industry.

We’re seeing a bit of a bounce back today with Asian buyers stepping in lightly.

The good news is that we have some sort of semblance of support from the bitcoin and ethereum charts.

The bad news is that if either of these lines is broken it could lead to more panic and mayhem.

That said when trading cryptos we need to keep in mind the time frame of the trade. If you’re a short term trader, go with the flow, there’s plenty of momentum in this market for quick trading. If you’re a long term investor, don’t be concerned with the short term movements.

Either way, always diversify yourself!!

Let’s have an awesome day ahead.

This content is for information and educational purposes only and should not be considered investment advice or an investment recommendation. 

Past performance is not an indication of future results. All trading carries risk. Only risk capital you’re prepared to lose.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



Feedback or Requests?

Mati Greenspan

Mati Greenspan

https://www.etoro.com/

Senior Market Analyst at Etoro.com.

Comments
  • user

    AUTHOR embersburnbrightly

    Posted on 2:12 pm June 27, 2017.

    Indeed, there appears to be entirely too many “fat fingers” all of a sudden, in various markets; too many “flash crashes” that don’t seem to bring the credible serious investigations they deserve.

  • View Comments (2) ...
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