Day: September 22, 2020

AUD/USD: Depressed near monthly low under 0.7200, eyes Aussie Retail Sales
Forex

AUD/USD: Depressed near monthly low under 0.7200, eyes Aussie Retail Sales

AUD/USD fades pullback moves from multi-day low of 0.7153 around 0.7180/75. Recovery in market sentiment fails to help the bulls as US dollar stays strong. RBA Deputy Governor triggered hopes of central bank intervention despite only marking it as the option available to use. Aussie PMIs, Preliminary Retail Sales for September are in the spotlight, for now. AUD/USD eases to 0.7170 at the start of Wednesday’s Asian session. In doing so, the aussie pair begins the key day near the lowest levels since August 03, marked the previous day as traders await monthly PMI data and Retail Sales figures from the pacific major. The pair’s weakness could broadly be attributed to the US dollar gains as risk-recovery off-late failed to put a floor under the quote. A long day ahead… O...
Companies turn to convertibles for much-needed cash
Investing

Companies turn to convertibles for much-needed cash

As a relatively small and often overlooked asset class, convertible securities rarely make headlines. However, the asset class has received a great deal of attention from financial publications in recent months. Convertibles have been making the news for two primary reasons – record-setting new issuance and strong absolute and relative performance. COVID-19 spurred a wave of convertible issuance early this year A convertible security is a corporate bond that has the ability to be converted into a fixed number of shares of the issuer’s common stock. New US convertible issuance has been strong this year, currently standing at about $81 billion according to Bank of America. That’s higher than all of 2019, which was in itself a very strong year with about $53 billion.1 This is highest level ...
Emin Gun Sirer’s $42 million blockchain for DeFi scaling has launched
Crypto News

Emin Gun Sirer’s $42 million blockchain for DeFi scaling has launched

Avalanche, a blockchain offering scalability to the world of decentralized finance took its mainnet live on Sept. 21.  "From Snowflake to Avalanche, the decentralized platform has come a long way, and its journey has only just begun," Ava Labs said in a Sept. 21 statement on the mainnet launch. Ava Labs is the entity responsible for building the Avalanche blockchain and project. Emin Gün Sirer, ranked 52nd on Cointelegraph's list of the top 100 people in crypto and blockchain, serves as Ava Labs' CEO.  Avalanche runs its own consensus protocol, paving the way for the blockchain to facilitate 4,500 transactions per second, or TPS, the statement explained. Current blockchain networks often host far fewer TPS capabilities, resulting in slowed transaction times and higher f...
The U.S. coronavirus death toll tops 200,000, and it’s just ‘the tip of the iceberg’
Business news

The U.S. coronavirus death toll tops 200,000, and it’s just ‘the tip of the iceberg’

The coronavirus, which was first confirmed in the United States about eight months ago, has killed more than 200,000 people across the country as of Tuesday as U.S. officials rush to approve and manufacture a vaccine.  The U.S. had reported at least 200,005 confirmed Covid-19 deaths as of mid-day Tuesday, more than any other country in the world, according to data compiled by Johns Hopkins University. The U.S., which accounts for roughly 21% of all confirmed Covid-19 deaths around the world despite having only 4% of the world's population, is battling one of the deadliest outbreaks in the world. Fatalities in the U.S. have doubled over the last four months, after the virus took 100,000 lives in the first four months of the outbreak.   Coronavirus deaths have...
Is Robinhood Gold Worth It?
Online Trading

Is Robinhood Gold Worth It?

Robinhood Gold is the premium membership offering from Robinhood. It costs $5 per month, and its core features are:  Research reports from Morningstar Level 2 quotes Increase your instant deposit limit Extended hours trading (pre-market and after hours) $1,000 of additional margin Changes to Robinhood Gold Robinhood changed their Gold offering back in April 2019, and the primary difference was their structuring of how their clients pay for margin. The initial iteration of Robinhood Gold charged clients a flat monthly fee for their Gold membership based on how much margin they’d like to utilize. Robinhood has since changed this and made Gold a flat-fee membership, regardless of account size. Now, all Gold members get access to $1,000 of margin if they mee...
Powell speech: Banking system has held up well so far
Forex

Powell speech: Banking system has held up well so far

While testifying testimony before the House Financial Services Committee on Tuesday, Jerome Powell, Chairman of the Federal Reserve System, said there was very little demand for loans below $1 million in the Main Street Lending Program. Additional takeaways "Proceeding with a lower loan amount might require a different program from Main Street." "Smaller loans would be more in line with the Paycheck Protection Program (PPP) loans that can be forgiven." "Question for how to reopen are for state and local elected officials." "Have relaxed a number of banking regulations temporarily and are open to do more of that." "Stress tests themselves always err on the side of safety." "No plans to change banks living will review schedule." "So far, banking system has held up well." "Sma...
Risk Tolerant vs. Risk Averse: Questions You Should Ask Yourself Before You Trade
Strategy, Technical Analysis

Risk Tolerant vs. Risk Averse: Questions You Should Ask Yourself Before You Trade

In finance and trading, risk tolerance is a measure of how much risk (or loss) an investor or trader is willing to withstand within their portfolio. Higher net-worth traders are typically able to stomach larger losses than those with a lower income, yet smaller trading accounts are still known to apply higher leverage ratios to increase their potential returns. Risk tolerance is a very important concept that you need to understand before you place a trade. If you have a trading account with $1,000, are you willing to risk your entire account on a few trades? Can you afford to lose the money in your trading account?  In general, no matter your risk tolerance levels, you should only trade with the money you can afford to lose. That’s why I recommend you take our trading class onlin...
IL&FS case: Sebi raises penalty to Rs 1 cr each on ICRA, CARE
Stock News

IL&FS case: Sebi raises penalty to Rs 1 cr each on ICRA, CARE

New Delhi: Markets regulator Sebi on Tuesday enhanced the penalty amount to Rs 1 crore each on rating agencies ICRA and CARE in connection with lapses on their parts while assigning credit rating to non-convertible debentures of IL&FS. The crisis at diversified IL&FS, whose board was superseded by the government, came to light in September 2018 and since then, the company as well as related entities have come under the regulatory lens. The regulator, in December 2019, had imposed a fine of Rs 25 lakh each ICRA and CARE Ratings in the matter saying the default by IL&FS occurred due to "lethargic indifference and needless procrastination and laxity" of these rating agencies. While the regulator came down heavily on the rating agencies with sharp observations but it was felt th...
Airline travel shifts toward last-minute bookings, domestic trips: Skyscanner
Commodities

Airline travel shifts toward last-minute bookings, domestic trips: Skyscanner

By Jamie Freed SYDNEY, Sept 22 (Reuters) - The air travel market has shifted toward last-minute bookings, one-way flights and more domestic trips as consumers grapple with fast-moving changes due to the coronavirus pandemic, a report from online search and booking site Skyscanner shows. The new trend will be an advantage for low-cost carriers that are able to offer competitive pricing amid an uncertain future for business travel, which was previously a major profit driver for full-service airlines, the report said. "I think generally we have seen if you look at the market prices are much keener than you would expect," Skyscanner Vice President Commercial and Flights Hugh Aitken told Reuters in a phone interview. "That just reflects that airlines have capacity and need to fill that cap...
Equilibrium receives Web3 grant to develop its universal DeFi module
Crypto News

Equilibrium receives Web3 grant to develop its universal DeFi module

Decentralized finance startup Equilibrium has received a grant of $27,000 from the Web3 Foundation to develop its DeFi pallet and provide tools which enable other projects to migrate to the Polkadot platform. The updated pallet would enable the Equilibrium parachain to introduce a developer environment for DeFi applications. This will include an Ethereum Virtual Machine, aiming to attract Ethereum dApp developers, who can reuse their existing code. The Web3 Foundation offers grants of up to $100,000 to organizations who are developing new technologies. Equilibrium’s DeFi pallet is universal, can be reused and implemented on other parachains. As Björn Wagner, the co-founder and COO of Parity Technologies, the technical arm of the Web3 Foundation, explained: “Equilibrium has the potent...