Cryptos continue their stellar rise – Market wrap for the North American session

Cryptocurrencies captured the attention from Markets in today’s session at the cost of global Equity Indices.

Yesterday afternoon saw the huge rise in Bitcoin and Ethereum that dragged upwards all digital assets, as markets failed to correct in the previous months despite war fears and equities taking the podium in the end of June.

This gives sensations of more outflows from the Traditional global and US assets as market participants price in gradually some mess-ups from expansionary fiscal and monetary policies by G7 Central Banks and Governments, particularly since the Covid Stimulus period.

Global trade outlooks start to be a concern again, with Trump’s tariffs making daily headlines and this is starting to impede on the past few weeks of ecstatic sentiment.

Energy commodities and Metals have also performed well in today’s session, with petroleum-linked products rising between 1% to 3% (WTI up 3.15%), and metals continuing their run higher.

A fiat Currency-debasing theme could be in play, even though it has been a fantasy for market players since the new Millenium; We are far from 1970’s hyperinflation standards that would be confirming further this hypothesis.

Orange Juice, up above 10% today, has also seen a few sessions of squeezes (pun intended) amid some supply fears.

Apart from that, Canadian Employment expected unchanged came out with a huge beat (88k vs 0 exp), but the rise hasn’t bolstered the CAD too much due to the latest 35% tariff menances from the Trump Administration