Fidelity Charitable, the financial services giant’s charity unit, is now accepting XRP, the world’s third-largest cryptocurrency, for donations. Until now, the unit accepted only four cryptocurrencies - bitcoin (BTC), bitcoin cash (BCH), ether (ETH) and litecoin (LTC), having launched the form of donation back in 2015, according to an announcement shared with The Block late […]The post Fidelity’s charity unit includes XRP to its list of accepted cryptos for donation; hits $100 million-mark appeared first on The Block.
Inflation in the eurozone was the weakest in more than two years in July, according to data released Monday, underscoring the difficulties the European Central Bank has in trying to stimulate the economy as member states keep a tight lid on spending.
Eurostat said euro-area inflation in July slowed to 1% over the last 12 months, down from 1.3% in June and an initial estimate of 1.1%. That was the lower than the 1.1% expected in a FactSet-compiled economist forecast and the slowest growth since Nov. 2016.
The world is pre-positioning and anticipating this week’s Jackson Hole Economic Symposium, with Jerome Powell the known highlight, with the Fed chair due to speak at 00:00AEST on 24 August.
After Friday’s close, Traders were not putting much weight behind current price action thinking it was little more than profit-taking going through from a variety of overextended risk-off bets or as we call it on the desk “a predictable short-covering rally into the weekend.” But risk assets have opened up on stable footings this morning on the back of positive trade comments from President Trump as investors continue to view each sliver of trade optimism in an extremely positive light. This, despite the domino effect from Argentina plus China and the Eurozone economic woes with triggering the U.S. curve inversion panicking investors while sounding the recessionary alarm bells.
The price action suggests traders have a limited bias early in the session. However, holding above the pivot at .6740 suggests a support base may be forming.
Based on last week’s price action and the close at 1.1090, the direction of the EUR/USD this week is likely to be determined by trader reaction to the short-term downtrending Gann angle at 1.1093.
Investing.com - The U.S. dollar was hovering near two-week highs against a currency basket on Monday as U.S. Treasury yields bounced back from recent lows amid hopes that major economies will seek to prop up slowing growth with fresh stimulus.
Based on last week’s close at 106.323, the direction of the USD/JPY this week is likely to be determined by trader reaction to the downtrending Gann angle at 106.317.
Investing.com - The U.S. dollar was flat on Monday in Asia as traders remained cautious ahead of Federal Reserve minutes due later this week.
Based on last week’s price action and the close at .6425, the direction of the NZD/USD this week is likely to be determined by trader reaction to the downtrending Gann angle at .6391. This angle, moving down at a rate of .004 per week since the week-ending July 19, has been guiding the market lower for four weeks.
The Reserve Bank of Australia Monetary Policy Meeting Minutes will be featured on Tuesday. Traders will be looking for clues that could help them determine the frequency of future rate cuts by policymakers.
Investing.com - This week all eyes will be on the Federal Reserve as investors wait for fresh insights on how it may respond to growing fears of a recession after the Treasury yield curve inverted. The Fed will hold its annual gathering in Jackson Hole later in the week, where Chairman Jerome Powell is to deliver what will be a closely watched speech Friday. It will publish the minutes of its July meeting on Wednesday.
Based on Friday’s price action and the close at $1523.60, the direction of the December Comex gold futures market on Monday is likely to be determined by trader reaction to the 50% level at $1517.50.
Based on Friday’s price action and the close at 1.1090, the direction of the EUR/USD on Monday is likely to be determined by trader reaction to the short-term Fibonacci level at 1.1112.
Based on last week’s price action and the close at 106.323, the direction of the USD/JPY on Monday is likely to be determined by trader reaction to the minor pivot at 106.013.
Based on last week’s price action and the close at .6425, the direction of the NZD/USD on Monday is likely to be determined by trader reaction to the pivot at .6483.
The minor range is .6677 to .6821. Its 50% level or pivot at .6749 is controlling the minor direction of the AUD/USD. Holding above this level is helping to generate a slight upside bias.
Based on the early price action and the current price at 1.1100, the direction of the EUR/USD into the close is likely to be determined by the short-term Fibonacci level at 1.1112.
In the USD Index, the bulls continued to take over the bears even today. Interim, rising odds for a no-deal Brexit was making the Cable traders upset.
Gold markets rallied again during the week, but quite frankly have underperformed later in the week. At this point, there is a bit of a shooting star for the week, and this suggests that perhaps a little bit of a pullback is coming. This however doesn’t mean that I’m looking to sell gold.