Situation on the stock markets in November

Fluctuations in oil prices, the growth of bitcoin, spikes in stock markets. A brief overview of what is happening in the global economy.

Wednesday, November 3, has become ambiguous in the world of capital and economics. After all, if some indicators methodically crept down, others showed obvious uncertainty, and still others continued to break growth records.

Falling oil prices

So, the price of oil fell 2.3% to $ 82.8 per barrel of Brent, fell by the evening of November 3 to the area of lows since mid-October, i.e. to $ 82.32. This scenario was not unexpected for oil market players, as they played it out according to the American Petroleum Institute (API) data on an increase in hydrocarbon reserves in the country by 3.6 million barrels. As a result, world prices have dropped significantly. Bidders focused on the jump in the price of December gas futures in Europe, which increased by more than 11% (exceeding $ 900 per thousand m3).

The exchange also analyzed Iranian media reports about the successful prevention of the seizure of a national tanker by US forces in the Gulf of Oman. But the British multinational oil and gas company British Petroleum gave its assessment: global oil demand has already exceeded 100 million barrels per day, so it will soon return to the pre-pandemic level. Falling oil prices can lead to a variety of consequences. That is why it is important to closely monitor the market situation.

Fluctuations in global stock markets

In anticipation of the outcome of the meeting of the US Federal Reserve System scheduled for November 2-3, US indices rose slightly the day before. According to the results of July-September, Pfizer’s revenue and profit were higher than stock exchange forecasts. Asian markets were noticeably feverish on Wednesday. The number of identified COVID-19 patients in some provinces of China was growing, the authorities were pushing for additional restrictions. Against the background of frankly weak economic statistics, European markets also looked uncertain. Here, in October, in the field of industrial production, the business activity index decreased to 58.3 points with a forecast of 58.5 points. Nevertheless, the preservation of the rate is the main forecast of investors.

Bitcoin Growth

According to Forex data, bitcoin has significantly strengthened in price over the day. Its growth was influenced by several facts at once: the presentation of a new concept of crypto cities from the creator of Ethereum Vitalik Buterin, the announcement of the launch of micro futures based on Ethereum by the Chicago Stock Exchange, as well as the news that director Quentin Tarantino will present a collection of seven NFTS based on the film “Pulp Fiction”.

The reaction was not long in coming. The bitcoin exchange rate for the day strengthened by 2.3%, that is, to 63104 dollars. The expert forecast says that the next level will be $65,000.

If you are trying your hand at earning money on the international Forex market, you should keep an eye on what is happening in the world, how it affects certain indicators. It is on this that your final profit will depend. So in no case should you ignore the world news. Be sure to consider all our tips and recommendations.