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Market Snapshot – Traders Tread Cautiously on Hawkish Fed

Posted by Pip Phenes on


Stocks Move Lower The stock markets have been trading in a cautious manner over the last few days as the Fed has been more hawkish than what many would have expected it to be. The focus over the last 24 hours has been on the FOMC meeting minutes that were released yesterday. After some initial confusion over how it needed to be interpreted, the traders realised that the Fed meant business and that it could be possibly even 4 rate hikes during the course of the year depending on how the incoming data from the US pans out. This kind of hawkish language was not something that was expected at this stage from the Fed and this has led the dollar...

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Stocks slip further as banks sink; Wells Fargo plunges

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NEW YORK (AP) — U.S. stocks are slightly lower near midday Monday as banks and energy companies slip, but technology companies recover some of Friday's losses. Wells Fargo is sinking after the Federal Reserve hit the bank with new sanctions over a scandal that involved opening millions of phony consumer accounts. The market erased some of its early losses following a mid-morning report showing more evidence of economic strength in the U.S economy. KEEPING SCORE: The Standard & Poor's 500 index lost 7 points, or 0.3 percent, to 2,754 as of 11:20 a.m. The Dow Jones industrial average was down 73 points, or 0.3 percent, to 25,449. Early on, it fell 355 points. The Nasdaq composite fell 4 points, or...

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AUD/USD and NZD/USD Fundamental Weekly Forecast – Australian Dollar: Trump Speech, Consumer Inflation Key Market Movers

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Last week, the Australian Dollar surged against the U.S. Dollar, taking out the September 20 main top at .8102 and the September 8 main top at .8124 before stopping short of its May 4, 2015 main top at .8162 and a long-term 50% level at .8165. There wasn’t any major economic news from Australia last week. All of the price action was driven by a steep plunge in the U.S. Dollar. Higher commodity prices as a result of the weaker Greenback have also added further impetus to the Aussie strength. The AUD/USD settled at .8108, up 0.0126 or +1.58%. View photos Weekly AUD/USD More The New Zealand Dollar finished the week sharply higher despite some strong mid-week volatility, triggered by weaker-than-expected quarterly...

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Draghi: U.S. Weak Dollar Raise Questions

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Early Investors are making 50,000% returns on ICOs

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Early investment is paying off big time The average return on the S&P is 10%. Over the last year bitcoin has seen unprecedented returns of 1000%. But savvy cryptocurrency investors are investing in ICOs and making ROIs as high as 50,000%. Stop and think about that for a moment. That means for a $100 investment in early 2017 you could have netted $50,000. Not too shabby for a year of trading. ICOs (Initial Coin Offerings) are a relatively recent phenomenon where investors exchange cryptocurrency (usually Ethereum) for a stake in an early stage project. This sort of early stage investing has traditionally been highly regulated. Cryptocurrency has provided a way around these regulations. Rather than having to wait to invest until...

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Facebook’s Mark Zuckerberg Resolution: “Give People the Power” via Cryptocurrency

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Mark Zuckerberg, founder, chairman, and CEO of social media platform Facebook, has posted his annual challenge. It’s often a look back at major events, taking stock of the year, and appraising what’s ahead. This year, he ended his note with a pointed call to “take power from centralized systems” by employing uses for “encryption and cryptocurrency.”   Zuckerberg Gets Reflective Mark Zuckerberg believes a great challenge, perhaps the most important, facing tech companies is centralization versus decentralization. Before getting to the meat of his annual statement, however, Mr. Zuckerberg reflected on the obstacles facing his company. “Every year I take on a personal challenge to learn something new,” Mr. Zuckerberg posted 4 January 2018 just before 8am PST. He continued,...

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Dancing With the Devil: ‘Cashing Out’ Cryptos Into Fiat Not So Easy

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Bitcoin and other cryptocurrency assets are precious and some of them have grown over 1300 percent in value this year. Although, with the price on exchanges being higher than ever before its now a bit more difficult for those who want to ‘cash out’ or make significantly large purchases without being watched by the prying eyes of tax collectors and governments. Also read: Russian Regulators Draft Law to Restrict Crypto Mining, Payments, and Token Sales Buying That Lambo May Not Be So Easy Lately across social media and forums, you can find posts written by individuals who have ‘cashed out.’ Maybe they bought a luxury car like a Lambo, paid off their mortgage, or cleared their student loans with cryptocurrency gains....

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Bitcoin Fees Have Become Infeasible

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In 2013, one bitcoin cost $20. In 2017, it costs $20 to send one bitcoin. With record highs, thriving adoption, and media attention, this should be a celebratory time for bitcoin believers. And yet it’s hard to shake the feeling that something isn’t quite right. How did we reach a point where the world’s bank killer and Western Union crippler has become incapable of taking on the institutions it once sneered at? Bitcoin is hot as hell right now. But it’s also a mess. Also read: Bitpay Plans to Use Bitcoin Cash for Payment Invoices and Debit Loads Bitcoin Fees Have Become Infeasible By any reckoning, 2017 has been a phenomenal year for bitcoin. Even the currency’s most ardent supporters would...

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Dollar Dips, Bitcoin Jumps as Futures Start Trading

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Investing.com - The dollar edged lower against a basket of the other major currencies on Monday but remained supported by expectations of higher interest rates, while bitcoin prices jumped as futures trading in the digital currency got underway. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, edged down 0.1% to 93.75 by 06:40 AM ET (11:40 AM GMT). Demand for the dollar continued to be underpinned after Friday’s stronger-than-expected U.S. jobs report underlined expectations for a rate hike by the Federal Reserve at its upcoming meeting. The U.S. economy added a larger-than-forecast 228,000 jobs in November the Labor Department reported, but the report also showed that wage growth remained tepid. The Fed is...

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Market Snapshot – Bitcoin Futures Begin Trading as Central Banks Loom Ahead

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Bitcoin Futures Begin Trading With the lack of major news today, bitcoin futures took center stage as the CBOE began trading on them as of today. The prices had fallen towards the $13,000 region over the weekend but once the futures trading began, the prices began to recover and now trade above the $16,000 region. It remains to be seen whether this would lead to another bullish leg in the prices of bitcoin as we enter into a new phase as the far as the bitcoin market is concerned. A lot of traders would get an opportunity to short the futures and this is likely to lead to some good 2 way trading in the market and with the CME...

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