This morning a aircraft crashed en route from Addis Ababa to Nairobi killing 157 individuals. 

Given the reason for the crash remains to be unknown, and that is the second such incident involving Boeing’s new 737 Max Eight aircraft, a number of international locations together with China and Indonesia have ordered all 737 Max 8s grounded till additional discover. That’s greater than 100 plane out of fee for now.

Boeing shares are anticipated to drop about 8% on the open and we’ll hold an eye fixed out to see how issues progress. Our deepest sympathies exit to the victims. We hope the trigger is found and rectified quickly.

eToro, Senior Market Analyst

Right now’s Highlights

US is Stronger

Saudi Oil Manouver

Glad Alt Season

Please observe: All information, figures & graphs are legitimate as of March 11th. All buying and selling carries danger. Solely danger capital you may afford to lose.

Conventional Markets

Talking with CBS in a uncommon interview final night time, Fed Chairman Jerome Powell gave a few of his ideas on the native and international economies. The divergence of which, as Powell places it, is trigger for remaining cautious.

As a result of the worldwide financial system is reliant on the US Greenback, the Fed is having a troublesome time normalizing financial coverage although issues are nice at house, due to the attainable impact on different markets. Greater than that although, Powell famous attainable dangers from the decelerate in China and Brexit.

It’s attainable that these dangers are the rationale the inventory market simply closed its worst week thus far this yr (purple rectangle), which isn’t saying a lot because it’s been a unbelievable yr. Markets are trying vivid this morning in Asia and Europe, and it is going to be fascinating to see how we deal with the US session.

The KSA’s Grip on Oil

Typically you want to take a step again as a way to achieve floor.

That is precisely what Saudi Arabia is making an attempt to do with the oil market. The Kingdom’s shoppers have reportedly requested a complete of seven.6 million barrels per day but, in accordance with studies, they solely plan to provide 7 million.

As america has now been principally power impartial for the final six months, and Venezuela is unable to offer any type of steady manufacturing, the KSA is set to restrict provide as a lot as attainable as a way to drive up costs and regain their dominance.

Information like this could be trigger sufficient for a rally throughout the power sector just some years in the past however right this moment oil is having bother regaining it’s month-to-month excessive (purple circle).

When using the above technique of taking a step again, it might additionally backfire, making it troublesome to regain the bottom given up.

Final week, Norway has introduced one of many largest divestments from oil and gasoline shares in historical past because the nation strikes in the direction of a cleaner sovereign funding portfolio. Undecided how this impacts issues however simply wished to throw it in there as I consider it factors to a wider pattern of buyers changing into a bit extra conscientious.

Glad Alt Season

With bitcoin lagging behind whereas different cryptos surge, the sensation is that the crypto winter is coming to an in depth and it’s now alt season.

After all, there’s no telling how lengthy this might final however the indicators are all in place. World quantity throughout crypto exchanges is holding regular at round $30 billion per day, but bitcoin’s quantity is lower than a 3rd of that determine. Certain, bitcoin change volumes are nonetheless about double what they had been in early February, however some cash like Litecoin, EOS, and BNB have greater than tripled their each day volumes in the identical time-frame.

As most cash are traded in opposition to BTC, with bitcoin being the bottom foreign money for many altcoins, the truth that volumes are down could be very telling of the present market setting.

As effectively, we’re noticing a sudden drop in transactions on the bitcoin blockchain for the reason that begin of the month…

Don’t get me fallacious, BTC stays probably the most steady of the cryptos and the Bitcoin dominance index is holding effectively above 50%, regardless of a number of the surges within the smaller cash.

It’s simply that, as we pull out of the crypto winter, many merchants are in search of extra than simply steady.

Over the weekend it was Stellar’s flip for double-digit positive aspects. From Friday morning till the time of this writing it hit a complete rise of 23%.

This kind of motion is typical of an alt season as buyers rush into no matter’s transferring in the mean time and attempt to catch the following wave.

Glad browsing!

Greatest regards,
Mati Greenspan
Senior Market Analyst

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