19.10. Tech stocks rally, dollar softening and bitcoin's projected soaring

News for today, October 19th:

On Tuesday, the dollar fell to near the bottom of its recent range against major peers, pushed by weak U.S. factory data overnight and on market wagers of faster normalization of monetary policy in other countries. Increased investor confidence also put pressure on the dollar: it lost 0.28% against a basket of major peers, falling to its lowest level in October. Sterling, the Australian dollar and the New Zealand dollar hit monthly highs against the US dollar in the Asian session, while the euro hit two-week highs.

Asian stocks rallied across the region on Tuesday, most importantly due to the gains of tech companies, while Chinese markets rebounded from disappointing economic data. Technology stocks were the main growth driver in Asia, with the Hong Kong index rising 1.26% and the technical sub-index rising 2.4%.

Bitcoin has skyrocketed in the last weeks leading up to the launch of a futures-based exchange-traded fund, with even more gains predicted. Current trading activity in the derivative markets suggests that traders believe the popular cryptocurrency will not only rally, eclipsing its previous all-time high, but will also reach $ 100,000 by the end of the year.

The price of Brent crude is $ 84,66 per barrel, WTI — $ 82,92. EUR/USD is at 1.1648, GBP/USD —1.3784, gold is at $ 1,781.73 per ounce.