CEX.IO company blog | Weekly summary (December 14-20): markets rose to new highs

Alexander Yanyuk, CEX.IO Broker finance expert comments:

Last week the quotes of mostassets showed positive dynamics.Brent oil settled above $52 per barrel last Friday, giving investors hope that prices will recover to $60 by March next year. Gold, despite slight positive dynamics, was unable to break above the established range of $1,800 - 1,900 per troy ounce, ending last week at $1,887. Investor uncertainty about the need to invest in traditional defensive assets is increasing, as it is likely that the COVID pandemic -19 may end at the beginning of the first half of 2021.

In the foreign exchange market, the dollar could not resistpositive sentiments and continued to yield positions to major currencies. The ruble turned out to be among the weakest currencies, as even in the framework of a bullish wave against the US dollar, it could not stay below 73 per USD and ended last Friday at 73.34. The value of the euro also increased over the week - on Friday the EUR / RUB pair was trading at the level of 89.84 rubles. Nevertheless, as long as the USD / RUB pair is below 75, the ruble is technically inclined to strengthen.

The dynamics of the cryptocurrency market again presenteda surprise, this time a pleasant one. As we said earlier, the breaking of the strong resistance range around $ 19,800 - 20,000 triggered a wave of purchases, which by the end of last week brought the BTC / USD pair quotes to the level of 23,700. $ 647, XRP - 0.57124. The wave of positive this week is likely to give way to the stabilization of quotations, but investors need to take into account the prevalence of bullish sentiment in the digital asset market.

The dynamics of fixed assets for the period December 14-20:

— Oil rose from $49.98 to $52.32 (+4.68%)
— Gold rose from $1,843.70 to $1,887 (+2.35%)
— The USD/RUB pair rose from 72.95 to 73.34 (+0.53%)
— The EUR/RUB pair decreased from 88.41 to 89.84 (+1.62%)
— Bitcoin rose from $19,191 to $23,700 (+23.49%)
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