The cryptocurrency sector is rising strongly, with Ethereum breaking strongly to a new record high and Bitcoin trading above $65k near its all-time high price. If Bitcoin continues to advance we will be likely to see further strong rises in the prices of these two major cryptocurrencies over the coming days.
Last week’s US non-farm payroll data came in stronger than had been expected, with $531k net new jobs created compared to the 455k which had been expected. This suggests the US economy is still growing strongly and it seemed to give a minor boost to the US dollar and US stocks.
In the Forex market, the US dollar is in a long-term bullish trend. Right now, as the week opens, the New Zealand dollar seems to be the strongest currency, while the euro looks to be the weakest. The euro is a long-term bearish trend.
Elon Musk polled Twitter asking whether he should sell 10% of his TESLA stock. The poll was affirmative. The current market price of this block of stock is $21 billion, and Musk would likely have to pay 15% tax on almost the entire valuation.
Last week saw the third consecutive global weekly rise in new confirmed coronavirus cases after two months in which cases fell steadily.
It is estimated that 50.9% of the world’s population has received at least one dose of a coronavirus vaccination.
Total confirmed new coronavirus cases worldwide stand at over 250.6 million with an average case fatality rate of 2.02%.
The rate of new coronavirus infections appears to now be increasing most quickly in Austria, Croatia, the Czech Republic, the Dominican Republic, Egypt, Estonia, Georgia, Germany, Greece, Hungary, Iceland, Jordan, South Korea, Laos, Lithuania, Montenegro, Netherlands, New Zealand, North Macedonia, Norway, Poland, Russia, Slovakia, Slovenia, Switzerland, Vietnam, and the Ukraine.