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Bitcoin fell below $5,400. What caused this sharp drop? This downward movement took place as the broader cryptocurrency market also suffered notable losses, declining from a total value of $210 billion earlier in the day to almost $180 billion by roughly 15:30 UTC (approximately 10:30 a.m. ET), according to CoinMarketCap. When explaining what caused the sharp decline in bitcoin prices, analysts generally pointed to either ...
The long-term trend in oil is down and it has been since the pre-recession peak up near 150 in early 2008. Since then, it's been unable to move higher than that top. The direction of the line connecting that 2008 peak with the lower 2013/2014 peaks is unmistakably downward. The uptrend line connecting the low in 2016 to the 2017 low has been broken. Oil has closed below that trend line for 2 weeks in a row now -- and it's back inside the ...
This week's Forbes Asia Investment Briefing comes from John Woods, who is the chief investment officer for APAC at Credit Suisse. He told us that the trade dispute between China and the U.S. is an ongoing concern for the markets, but he also believes the budget negotiations between the EU and Italy are likely to have a further impact on sentiment throughout next week, as a game of brinksmanship plays out. Eurozone ministers have already warned Italy's coalition government to follow the rules, after ...
There is the “backstop”, a form of assurance that the Republic of Ireland seeks in that the border with Northern Ireland (part of the UK) is kept completely open for the free passage of trade, people, and services. Dublin insists on this, even if there is a hard or “No-Deal” Brexit. It is not too difficult to see why the Irish feel this way as the UK accounts for 16% of Irish exports and 39% of their imports. Any fetter to the freedom ...
The unemployment rate and average hourly earnings are the key metrics to watch. It is likely that the underemployment rate could fall to 7.1% and this could push the dollar index higher triggering a sell-off for emerging markets. In simple words, at 185K the expectations for the U.S. NFP number are sky high. Speculators are even hoping for a number above 200K. But, the two most important numbers that traders will be looking at are the average ...
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