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Looking to the future #financefriday

The news this week is that Cryptocurency firm Ripple have been charged with conducting investments without proper licences by the US Securities and Exchange Commission. The case probably won’t affect Bitcoin and other cryptos but could lead to more regulation. Trading in cryptos continued over the Christmas with XRP (Ripple) being particularly volatile. I’m looking to the future and I won’t be investing in cryptos.

looking to the future

Oil

The Opec intervention sent the oil price up this month and my investment in Shell and BP saw gains. I think the oil price will make more gains in 2021. The Brexit deal will see other share prices go north but investors will remain cautious. Covid is still causing problems and some sectors of the economy will continue to suffer.

GBP:USD

The value of the pound against the dollar has increased to $1.35 from $1.33 and my eToro investments are valued in USD so they have lost a few pounds on the exchange rate. Those investments are quite modest but the exchange rate does make a difference. I’m now making a paper loss but in dollar terms a steady profit. I’m learning more about the US market in the process. It is quite different to the UK market and US investors have a different attitude to investing. They are less cautious which can cause more volatility.

Looking to the future

What will happen to the markets in 2021? I’m looking to the future and trying to figure that out. I think the oil price will continue to go north and banks seem to be a good bet at the moment. Overall though, I think the economy will continue to go through a volatile period. I am puzzled by the share price of pharmaceutical companies. AstraZeneca, in particular, seems out of favour despite leading the fight against Covid by developing a vaccine. That vaccine is one of the least expensive too. Maybe their investment in a vaccine was too big a risk for the market? If the vaccine gets full approval around the world, AstraZeneca could once again attract investors. I’ll watch and wait.

Gold

I have noticed that the gold price has been falling through Christmas. Those investors in gold could be selling with a view to investing in the stock market when it opens on Tuesday. I expect a rally on Tuesday, partly for that reason. The Brexit deal might also give investors some optimism on Tuesday. I’ll be watching the market with interest.

January sales

We investors also spend our money wisely! I’ll be watching the January sales but I doubt if I’ll spend very much. I need some clothing and I need some tech gear for photography. Those advertisers won’t tempt very much money out of me, though! I have 30 litres of petrol in my car and that will probably last me until spring!

I wish you all a prosperous new year, invest wisely and spend thriftily!

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