In an interview with the Italian daily, La Repubblica, on Wednesday, the billionaire investing legend George Soros acknowledged that the current Wall Street rally looks like a bubble but noted that there are two key catalysts sustaining the advance. Key quotes “Two simple propositions”. “One is that in situations that have thinking participants the participants’ view of the world
Month: August 2020
Forex news for Asia trading Thursday 13 August 2020 Sellers of US dollars prevailed during the session here as currencies gained pretty much across the board. Even gold managed to head back up towards its US-time high. News flow was light, we did get comments from US Treasury Secretary Mnuchin that strongly indicated the two
Gold prices rose on Thursday, holding firm above the key $1900 per ounce level, as a weaker US dollar and concerns over the global economic recovery from the mounting COVID-19 cases boosted demand for the safe-haven metal. FUNDAMENTALS Spot gold was up 0.7% at $1,930.78 per ounce by 0034 GMT. US gold futures eased 0.5%
New Zealand Dollar tumbles broadly today as weighed down by double-whammy of RBNZ QE expansion and return to lockdown. The selloff in Kiwi is somewhat dragging down Aussie and Canadian too. On the other hand, Dollar is staging a strong rebound, with help from much steeper than expected correction in Gold price. The strong rebound
A traveler wearing a protective mask waits to put a suitcase in the back of ride-sharing car displaying Lyft signage at San Francisco International Airport on Monday, May 4, 2020. Paul Morris | Bloomberg via Getty Images Lyft just reported second-quarter earnings including a 61% revenue drop versus the same period last year, but a glimmer
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According to author Cahill Camden, “Decoding Digital: What is Cryptocurrency” was inspired by a conversation with his parents at the height of the crypto bubble in early 2018, which was along the lines of “Ok, we don’t have that much money, but we’ve heard about Bitcoin. Is cryptocurrency something we should invest in?” After searching
Run to the upside continues The European shares are closing higher for the day. The German DAX, France’s CAC, UK FTSE 100 has now moved higher for 4 consecutive days. A look at the provisional closes shows: German DAX, +1% France’s CAC, +1% UK’s FTSE 100, +2.2% Spain’s Ibex, +0.4% Italy’s FTSE MIB, +1.0% As
The Bank of Mexico will have its Board meeting on Thursday. Market consensus point to a 50bp rate cut to 4.50%. Economist at BBVA Research also see such a rate cut and consider Banxico will keep cutting rates in each of the remaining meetings during 2020 to 3.00%. Key Quotes: “Following four consecutive 50bp rate
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By David Fickling Has gold’s bubble just burst? The spot metal fell 5.7 per cent Tuesday, the sharpest drop in seven years and a remarkable slump for an asset that rarely shifts more than a percentage point in a day. It fell further Wednesday, as low as $1,863 an ounce, breaking the back of an
Yen is trading as the worst performing today so far, as pressured by surge in US treasury yields. In particular, 10-year yield is above 0.68 handle in pre-markets and could even challenge 0.7% today. US futures also point to higher open with S&P 500 could finally challenge record high. New Zealand Dollar remains one of
Around 100,000 people in total attended the 2020 Great Bay Area International Blockchain Week, hosted by Cointelegraph China and Cointelegraph in Shenzhen’s Great Bay district in the first week of August. Guests were divided between those who participated online and offline, according to Cointelegraph China’s report. The conference focused on investment, industry, public chain, trading
A look at USDJPY, EURUSD, GBPUSD The dollar has moved higher and in the process is testing some technical target in the major currency pairs. EURUSD: The EURUSD is cracking below the 1.17399 level (swing level) and will now look toward the swing area at 1.1713 to 1.1720. The lows today stalled against the high of
The UK Economic Data Overview The British economic calendar is set to dominate the markets moves at 06:00 GMT with the second quarter (Q2) GDP figures for 2020. Also increasing the importance of that time are March month Trade Balance and Industrial Production details. The first readout of the Q2 2020 GDP is seen weaker at
Forex news for Asia trading Wednesday 12 August 2020 Overnight moves continued in Asia today, most notably for precious metals with gold dropping further, under USD1,900, as did silver, under $23.50 at one point. Late US announcement of margin hikes weighed on less well funded traders and contributed to the further declines here in Asia
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