Employees of the Litecoin Foundation have volunteered for a pay cut to help the organization sustain through the times of decreased donations, especially in Q1 of 2019.The post Litecoin Foundation’s employees ‘voluntarily decreased salaries’ in wake of reduced donations appeared first on The Block.
A depreciating rupee pushed export prices of rice from India to their lowest in seven weeks on Thursday despite healthy demand from African countries, while lower purchases from Philippines weighed on rates for the Vietnamese grain. Top exporter India's 5 percent broken parboiled variety was quoted around $372-$375 per tonne this week, down from $374-$377 a week ago. "A falling rupee has been allowing us to lower export prices.
Minutes of the July 25-ending European Central Bank meeting showed policymakers were receptive to a stimulus program that could include both interest-rate cuts and asset purchases. "The view was expressed that the various options should be seen as a package, i.e. a combination of instruments with significant complementarities and synergies, since experience had shown that a policy package - such as the combination of rate cuts and asset purchases - was more effective than a sequence of selective actions," the minutes read. Members also saw value in examining ways to further strengthen its forward guidance on the path of policy rates, announcing preparatory work on the design of a tiered system or other options to mitigate the effects of negative interest rates on banks and and preparatory work "on modalities for potential new net asset purchases."
The European economy saw a slight recovery in August from weak demand caused by trade tensions, according to data released Thursday.
US Weekly Jobless Claim data and Markit PMI data release remain at the center stage for Thursday. On the Canadian side, the June MoM Wholesale Sales data will come out at around 12:30 GMT.
Based on the early price action and the current price at .6769, the direction of the AUD/USD on Thursday is likely to be determined by trader reaction to the uptrending Gann angle at .6787.
Investing.com - U.S. futures were slightly down on Thursday as investors waited for more details on Fed policy at the central bank's three-day gathering in Jackson Hole, Wyoming.
On Wednesday, the Forex pair closed higher after the release of the Fed minutes, however, it traded inside the previous session’s range, which indicates investor indecision and impending volatility.
Based on the early price action and the current price at .6383, the direction of the NZD/USD the rest of the session is likely to be determined by trader reaction to yesterday’s close at .6405 The Kiwi is being dragged lower by the weakening Chinese yuan which is widely viewed as China’s retaliation to U.S. tariffs.
The FOMC minutes had a distinctly stale flavour to them as the logical expectation were for a more hawkish tone after the Fed massively underwhelmed on the July rate cut, maintained a positive outlook, and had two dissenters. Beyond that, there wasn’t a great deal in these minutes that was new.
Furthermore, it shows that investors want Federal Reserve Chairman Jerome Powell and the FOMC members to cut very aggressively. Due to the muted reaction in the financial markets, a dovish spin by Powell on Friday should trigger a more volatile reaction in the markets.
It’s a busy day ahead as the markets react further to the FOMC meeting minutes. Chatter from Jackson Hole may overshadow the stats…
Investing.com - The U.S. dollar was largely unchanged on Thursday in Asia. The U.S. Federal Reserve’s July 30-31 meeting minutes released overnight received some focus.
The Treasury Department’s Office of Foreign Assets Control (OFAC) took actions against three Chinese nationals, who it alleges manufactured and distributed "synthetic opioids or their precursor chemicals." According to OFAC, the individuals laundered part of their drug proceeds in bitcoin, transmitting these proceed in and out of banks in China and Hong Kong.The post U.S. Treasury blacklists cryptocurrency addresses associated with Chinese "drug kingpins" appeared first on The Block.
Cable continued to stay consolidated near 1.1264 level on Wednesday. Upbeat July Canadian Consumer Price Index (CPI) remained as the primary driver that lifted the CAD currency.
Investing.com – Stocks rose for the fourth day in the last five as investors were cheered by Boeing's hope to get its 737 Max jet back into the air and by gains in tech and retail stocks.
Gold markets pulled back a bit during the trading session on Wednesday but continues to find support underneath near the $1500 level. That being the case, it’s very likely that we will continue to see a lot of interest in gold as it has been such a bullish move lately.
The US dollar rallied a bit during the trading session early on Wednesday but continues to see a lot of resistance just above at the ¥107 level. At this point, it looks as if we are going to continue to see more of the same.
The British pound ran into a bit of resistance during the trading session on Tuesday but ran into the 1.22 level to roll over a bit. At this point, the question is whether or not we are trying to form some type of bottoming pattern?
The British pound rallied a bit during the trading session on Wednesday, but also pulled back. Now that we are looking at the ¥130 level, the question then becomes whether or not we can break above there. If we do, obviously that means a lot and if we don’t, that means confirmation.
The Euro has gone back and forth during the trading session on Wednesday, as we continue to hang around the 1.11 EUR level, which of course is an area that has attracted a lot of attention recently, as we await the Federal Reserve Meeting Minutes, and then of course the speech from Jerome Powell on Friday.
The Australian dollar rallied a bit during the trading session on Wednesday, slamming into the crucial 0.68 level, an area that has caused resistance several times before. With this, the question then becomes whether or not we can break out?