Week in a Glance: Santa Claus Rally, Energy Crisis and Lira
The past week has been extremely successful for risky assets. The US stock market, represented by the SP500 index, reached historic highs, bitcoin went above 50K, and oil added 5% +.
The reasons for this, on the one hand, were the belief that the omicron leads to a much less serious form of the course of the disease. On the other hand, the overall positive attitude due to the holidays.
The year 2021 as a whole can be called a year of unbridled fun among risky assets. So the end of the year in this light looks quite natural.
Interesting things were happening in the energy assets market. A new wave of panic swept over Europe, driving gas prices above $ 2,000 per thousand cubic meters. But by the end of the week, the bubble deflated (within 3 days, gas prices in Europe fell by more than 40%).
Oil in this light was in high demand and was growing almost all week. But in light of such a rapid fall in gas prices, there is a feeling that without further replenishment from the side of risky asset lovers it will not be easy for oil to grow. In general, the current prices are quite promising in terms of sales.
The Turkish lira looks very interesting now. Interesting things happened to her last week. The markets sincerely believed that the measures proposed by the Turkish authorities to stabilize the situation will be successful, all economic problems are behind and in general a bright future is literally around the corner. As a result, the lira, which was trading at 18 per dollar on December 14, strengthened to 11 by the end of last week. In our opinion, this is a typical overreaction and a correction is inevitable. So selling a little lira at the start of the week is an extremely rewarding and promising occupation.
A festive week is ahead of us. In theory, everyone has no time for financial markets. But there is an element of danger in this - a thin market and potential flash crashes, which are quite likely in the presence of a large number of price bubbles.
The reasons for this, on the one hand, were the belief that the omicron leads to a much less serious form of the course of the disease. On the other hand, the overall positive attitude due to the holidays.
The year 2021 as a whole can be called a year of unbridled fun among risky assets. So the end of the year in this light looks quite natural.
Interesting things were happening in the energy assets market. A new wave of panic swept over Europe, driving gas prices above $ 2,000 per thousand cubic meters. But by the end of the week, the bubble deflated (within 3 days, gas prices in Europe fell by more than 40%).
Oil in this light was in high demand and was growing almost all week. But in light of such a rapid fall in gas prices, there is a feeling that without further replenishment from the side of risky asset lovers it will not be easy for oil to grow. In general, the current prices are quite promising in terms of sales.
The Turkish lira looks very interesting now. Interesting things happened to her last week. The markets sincerely believed that the measures proposed by the Turkish authorities to stabilize the situation will be successful, all economic problems are behind and in general a bright future is literally around the corner. As a result, the lira, which was trading at 18 per dollar on December 14, strengthened to 11 by the end of last week. In our opinion, this is a typical overreaction and a correction is inevitable. So selling a little lira at the start of the week is an extremely rewarding and promising occupation.
A festive week is ahead of us. In theory, everyone has no time for financial markets. But there is an element of danger in this - a thin market and potential flash crashes, which are quite likely in the presence of a large number of price bubbles.
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