Day: September 11, 2020

A DeFi bull run might take $400 Ethereum options traders by surprise
Crypto News

A DeFi bull run might take $400 Ethereum options traders by surprise

Ether (ETH) price gained 14% from its Sept. 6 low at $320, but this month's futures and options expiry is less than two weeks away. As its price is still pinned below $400, this raises the question of exactly how confident are derivatives traders of a 9% recovery to $400? By analyzing options model pricing, investors can easily conclude that traders are pricing in the 34% odds of Ether reaching $400 or higher. Still, the Black & Scholes options model main issue is heavily dependent on the number of days until expiry. The odds for the same $400 level on Nov. 27 rise to 52%, regardless of how optimistic investors are for the Ethereum 2.0 launch date or the altcoin’s growing use in decentralized finance platforms. Ethereum’s volatility leaves room for surprises Volatility is the centr...
Motherson Sumi taps NCDs to bring down interest costs
Stock News

Motherson Sumi taps NCDs to bring down interest costs

MUMBAI: As more acquisition opportunities open up due to the impact of the Covid-19 pandemic, Motherson Sumi, India's largest auto-component company, is sprucing up its finances. It is raising capital from the Indian financial markets to pre-pay existing debt and bring down the cost of borrowing, a top executive said. The company on Thursday announced that it raised Rs 2,130 crore at a coupon rate of 6.65% through an issue of non-convertible debentures (NCDs). The original issue size was Rs 1,500 crore, but it used the green-shoe option to retain more funds after the issue got oversubscribed. “This is purely for refinancing (our existing debt). We are not going to increase the leverage, we are just going to replace the leverage to reduce our cost of borrowing,” Motherson Group head of ...
The Friday Forex Takeaway – Episode 51
Forex News

The Friday Forex Takeaway – Episode 51

Key Points from This Week BOC Praise Domestic Recovery At the Bank of Canada’s September rates meeting held this week, the BOC opted to keep rates on hold, in line with expectations. However, the tone to the meeting as slightly more optimistic than many were expecting with the bank acknowledging that the recovery had occurred at a quicker pace than was expected. The BOC reaffirmed its commitment to keeping rates at accommodative levels for the time-being though did signal that its bond purchases could be altered as necessary. ECB Cites Quicker Recovery Pace The ECB held off from any rates adjustments at its September meeting this week, as expected. However, as we saw with the BOC, the ECB praised the strength of the recovery in the eurozone which they noted is taking place at a quick...
Yearn.finance YFI soars to $33K after Coinbase listing — is $40K next?
Crypto News

Yearn.finance YFI soars to $33K after Coinbase listing — is $40K next?

One of the hottest cryptocurrencies in recent weeks has been Yearn.finance (YFI). The project fundamentals are food for thought, but its price is also a relatively new approach in the cryptocurrency markets, with YFI valued at over $30,000 per YFI, or three times the price of one BTC, albeit with a much smaller market cap.  Nevertheless, it has caught the attention of traders and its price also surged in the past few days after Coinbase Pro announced on Sep. 10 that it will list the token shortly. Yearn.finance tests support at $19,000 and surges with 100% YFI/USDT 1-day chart. Source: TradingView The 4-hour chart is showing a beautiful price construction. A massive impulse wave was seen at the end of August as the price of Yearn.finance surged to $38,900. The local top here was...
95% Winning Forex Trading Formula – Beat The Market Maker
Forex, Strategy, Suggested, Videos

95% Winning Forex Trading Formula – Beat The Market Maker

https://www.youtube.com/watch?v=E-HRjjWQk6M 95% Winning Forex Trading Formula - Beat The Market Maker If you learn this one Forex pattern, you will be better off than 90% of all other traders your competing against. This simple strategy is the difference between winning and losing in Forex Trading. This video will show you a simple, straight forward way to take advantage of the market makers method. It will also show you how to recognize when maximum probability and profitability is in your favor before taking a trade. Start Trading NOTE: This article is not an investment advice. Any references to historical price movements or levels is informational and based on external analysis and we do not warranty that any such movements or levels are likely to reoccur in the fut...
Dow jumps 200 points in choppy trading as tech tries to bounce back again
Business news

Dow jumps 200 points in choppy trading as tech tries to bounce back again

Stocks rose in another volatile session on Friday as tech once again attempted to rebound from its recent slump. The Dow Jones Industrial Average traded 237 points higher, or 0.9%. The S&P 500 climbed 0.7% and the Nasdaq Composite traded 0.5% higher. Shares of Facebook, Netflix, Alphabet and Microsoft were up slightly. Apple and Amazon, however, slid 1.1% and 0.4%, respectively. Recently, the tech sector experienced a massive pullback that saw the Nasdaq drop 10% in just three sessions, dipping into correction territory. Peloton and Oracle jumped on the back of better-than-expected quarterly results. Peloton gained more than 4% and Oracle climbed 3.6%. Wall Street was coming off a session in which the major averages closed sharply lower after a steep downturn in tech names. The D...
Stalemate in Fiscal Talks, Growing Slack in eco Data put a dent in Equities Rally
Forex News

Stalemate in Fiscal Talks, Growing Slack in eco Data put a dent in Equities Rally

US equities were unable to develop positive start of Thursday session and bulls ceded ground to sellers later. There may be growing conviction in the market that US lawmakers (both the Fed and Congress) will not be able to enact monetary or fiscal support before the US presidential elections. This is a negative scenario for equity markets which reinforces the case for consolidation. Yesterday I wrote that the GOP wanted to adopt skinny fiscal package – in the amount of only $300 billion. The vote on it was scheduled for Thursday. The vote failed and it looks like that the talks headed for a dead end. A break below 3300 points in SPX early in the session today may set persistent corrective tone for risky assets extending for the rest of the session. However, rising US index futures indica...
Market Movers: YES Bank, Videocon hit upper circuits; Voda most active stock
Stock News

Market Movers: YES Bank, Videocon hit upper circuits; Voda most active stock

The stock of bankrupt Videocon took off and hit the upper circuit limit on Friday on reports of a new suitor, and it was joined there by 258 others, including Future Retail, YES Bank and Dish TV in an otherwise lacklustre market. Meanwhile, 45 stocks hit their 52-week highs, and Route Mobile IPO mopped up a solid subscriptions on the last day of the issue. Sensex ended the session 14 points higher at 38,854, and 50-share NSE Nifty 15 points up at 11,464. Vinod Nair, Head of Research at Geojit Financial Services, said with no official statement from the high-level talks to defuse tensions on India-China border, investors need to stay prepared for slow progress on that front. “This uncertainty will keep haunting markets in the short term,” he said. Here is a lowdown on what happened in F...
Another ‘Roaring 20s’ ahead? One way or another: Mike Dolan
Stock News

Another ‘Roaring 20s’ ahead? One way or another: Mike Dolan

By Mike Dolan LONDON, Sept 11 (Reuters) - They may not have the rapid economic growth of the 1920s, but the unfolding 2020s are shaping up to be "roaring" regardless. Just a fleeting glance at global asset prices for 2020 to date would reveal little about the devastating pandemic beyond how it catalysed trends already in place - suggesting more of the same in the decade ahead once COVID-19 is defeated. But the horizon painted by some investment strategists couldn't be further from that - at least the one contained in Deutsche Bank's latest annual long-term asset return study entitled "The Age of Disorder". The nub of the thesis by Deutsche strategist Jim Reid and team is that a 40-year period characterised by the second major wave of globalisation in modern history and the best inves...
Good for Bitcoin? US Senate rejects stimulus without $1,200 checks
Crypto News

Good for Bitcoin? US Senate rejects stimulus without $1,200 checks

The United States Senate rejected the new stimulus proposal on Sep.10, which did not include a new round of $1,200 checks. However, this boosts the chances of a new proposal with individual checks getting approved, and could serve as a catalyst for Bitcoin (BTC). Why was the stimulus proposal rejected, and why could it be a good thing? The new proposal, dubbed a “skinny” stimulus bill, was rejected with a 52-47 Senate vote. Republican Senator Rand Paul, along with Senate Democrats, blocked the new package that did not include $300 billion for stimulus checks. Both Republicans and Democrats rallied for a new round of direct stimulus checks in recent months. When a bill without small business support and individual checks was presented, the Senate rejected it. There is a high probability...