February 03, 2021 at 12:59PM
Global equity markets are now getting a substantial boost while Wall Street Bets crowd assets have been losing value. Last week, we saw exactly the opposite picture. The US indices returned to the highs of a week ago, while the GameStop share price fell to two-week lows.
Wall Street’s optimism may be fragile as the simultaneous strengthening of demand for risky assets, and the dollar’s rise continues. Such a combination rarely lasts for a long time. In the past year, we have repeatedly observed that the dollar’s turn to growth is soon followed by increased pressure on worldwide equity markets.
The FxPro Analyst Team
From: The FxPro Analyst Team https://fxpro.news/daily-economic-events/markets-outplayed-wall-street-bets-20210203/
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