Market Overview - Page 478

This week, we saw a major decline in bitcoin price below the $10,500 support against the US Dollar. The BTC/USD pair found support near $9,800 and yesterday corrected higher. It climbed above the $10,500 level, but struggled to gain momentum.

With the first U.S. interest rate reduction in a decade expected later this month, two Federal Reserve policymakers sketched out arguments on Tuesday on how deep the cut should be, even as a third said she needs more data before.

Congress is dead serious about nipping Facebook’s Libra cryptocurrency in the bud. The House Financial Services Committee has drafted a Libra killer bill that bans big tech companies from launching cryptos. It’s called the “Keep Big Tech Out of Finance.

A tide of weak reports are casting doubt on the Russian government’s optimistic economic forecasts for the second half. “There are a lot of worrisome signals from the second quarter,” said Natalia Orlova, chief economist at Alfa Bank in Moscow..

Just as the Litecoin halving is less than a month away, the number four cryptocurrency is starting to show signs of weakness. After posting a 2019 high of $146 on June 22nd, Litecoin has plunged to a low of $84.88.

Since July 10, the bitcoin price has dropped from $13,200 to below $11,000 within less than a week as the crypto market saw a minor correction. In a sharp pullback, the price of the dominant crypto asset slipped by more.

The world has become more economically exposed to China at a time when the Asian giant is increasingly relying on its own consumers to boost growth, according to a July report by consultancy McKinsey and Company. The findings by McKinsey.

Vladimir Putin’s 20-trillion-ruble ($300 billion) weapons-buying binge over the last decade has brought advanced hypersonic warheads and drone submarines. It’s also left the country’s defense industry with a massive hangover of debt that officials now say is suffocating the strategic.

Market focus Global markets remain optimistic, which nevertheless does not allay investors’ fears at the start of the corporate reporting season. Stronger than expected macroeconomic statistics from the United States and China, as well as the expectations of lower interest.

Market overview FX: Forex is experiencing a lull in anticipation of the data. GBP lost about 0.5% on news of Johnson’s leadership in the race for Prime Minister. Stocks: Stock indices add about 0.1%-0.2%, developing the offensive, but slowing the.

Market focus China’s quarterly GDP lowered concerns around growth rates, slightly exceeding expectations. In Q2, the growth rate of the country’s economy increased to 1.6% which is higher than expected. It is also better than 1.4% it was in the.

Bitcoin might have outperformed the global bond market in 2019, but it remains a bad investment, believes Roy Sebag of GoldMoney (TSX: XAU). The founder & chief executive officer last week presented bitcoin as a system that spends billions of.