Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow
Bitcoin To Rebound?
Sell-offs in bitcoin have been few and far between but the popular digital currency appeared to losing its popularity on Tuesday, falling more than 10% amid signs of fading investor hopes that the launch of futures contracts would spur institutional demand.
Bitcoin futures debuted on CME, the world's biggest exchange operator, on Sunday but investor uptake was tepid.
Some participants noted, however, that year-end profit taking could be adding to downside pressure as investors attempted to lock in gains on the impressive rally which has seen bitcoin rise more than 1900% since the start of the year.
On the U.S.-based Bitfinex exchange, bitcoin fell to $17,600, down $1405.0, or 7.48%, well below its recent all-time high of $19,891.
U.S. crude oil stockpiles to fall for fifth-straight week?
A fresh batch of inventory data from the Energy Information Administration (EIA) on Wednesday is expected to show that U.S. crude stockpiles fell for the fifth-straight week.
Analysts forecast crude inventories fell by about 3.78m barrels in the week ended Dec. 16.
Crude oil futures have made a mixed start to the week, reversing Monday’s losses to settle at $57.36 amid the prospect of fresh supply disruptions in the Middle East following escalating geopolitical tensions in the region.
European Macro Data
With much of central bank and top-tier economic data out of the way, investors turn attention to German wholesale inflation data measured by the production price index and Eurozone current account data slated for Tuesday.
Economist forecast the German producer price index to show a 0.2% rise in November, a touch lower than the 0.3% rise in the previous month.
The Eurozone current account is expected to have narrowed to €33.4 billion in November from €37.8 billion in October.
EUR/USD rose 0.48% to $1.1839 on Tuesday.