Monday, November 30

Day: October 4, 2020

Trade Setup: Expect a steady start on Monday; financials, consumption, IT stocks may outperform
Stock News

Trade Setup: Expect a steady start on Monday; financials, consumption, IT stocks may outperform

After consolidating for two days, the domestic equity market has attempted to break above the crucial support level again as it staged a strong up move on Thursday and ended the day with decent gains. Nifty saw a gap-up opening and got stronger as the day progressed. The index stayed in a capped range, but it was able to maintain its opening gains and even build on it further. Although the market stayed within a defined range, the volatility was near-absent in the previous session. After trading steady for the whole session, the headline index ended with net gains of 169.40 points or 1.51 per cent.On Monday, the Indian market will open by adjusting to the global trade setup as Friday was a trading holiday in India on account of Gandhi Jayanti. From a technical perspective, a follow-up mo...
Bitcoin use rise in Egypt amid economic recession
Crypto News

Bitcoin use rise in Egypt amid economic recession

As the COVID-19 pandemic pushed the Egyptian economy into recession and deepening unemployment, more and more Egyptians see the benefits of trading and mining Bitcoin as an alternative source of income.According to Al-Monitor, many Egyptians, particularly young people, are interested in cryptocurrencies. Wael al-Nahhas, an economist and financial advisor to several investment institutions in Egypt, said:“Many young Egyptians started investing in small amounts despite the increase in the value of the bitcoin. They started mining Satoshi, which is 100 millionth of a bitcoin, and on a daily basis they are making profits of 4% to 5% from the difference between buying rates during the timing of demand decline and selling rates at the time of peak demand, besides some quarterly or yearly ...
Trump’s doctors: The president may be discharged on Monday, his condition is improving
Forex

Trump’s doctors: The president may be discharged on Monday, his condition is improving

President Donald Trump may be discharged from the Walter Reed hospital on Monday, said his doctors.Dr. Sean Conley and several other doctors have been briefing the press on Sunday morning and said the president's condition is improving. Trump has been given another infusion of Remdesivir, has no shortness of breath, and has an oxygen saturation level of 98%.The physicians acknowledged that he had two transient episodes when the president's oxygen levels fell below 95%. However, Conley refused to say if Trump is in a room with additional oxygen pressure.After Conley's upbeat assessment on Saturday, White House Chief of Staff Mark Meadows said that the president's vital signs are "very concerning." Coney responded on Sunday by saying that Meadows' comments were "misconstrued."Later...
Centralized data management hampered the global response to COVID-19
Crypto News

Centralized data management hampered the global response to COVID-19

The COVID-19 outbreak, just like any other black swan event before it, revealed systemic weaknesses in a wide variety of industries and processes. With the information age now in full swing, this particular event emphasized the critical importance of data management, and it highlighted the failure of status quo data management systems.In terms of the global response to the pandemic, the consequences of poor data management range from exacerbated shortages to unnecessarily long medicine development times, and the end result is more lives lost. On the other hand, opportunities abound for those who embrace the next generation of data management solutions, and the benefits will be widely enjoyed.The European Union’s attempt to deal with personal protective equipment, or PPE, shortages at...
Gold Price Prediction: XAU/USD downside aims for 1,850
Forex

Gold Price Prediction: XAU/USD downside aims for 1,850

Declines hover as we usher in the new week, gold could plummet to 1,850 if the 50 SMA support caves. The uncertainty over President Trump’s hospitalization could positively impact gold in the week ahead.Gold closed the trading this week at 1,897, as reported on Saturday. The rally above 1,900 was mainly attributed to the news that the US President, Donald Trump, had tested positive for COVID-19. Trump’s doctor said that he is “doing very well” but must stay in the hospital for a few days. However, uncertainty continues to mount in the stock market over Trump’s illness and the presidential election only a few weeks away. However, many analysts expect that gold will capitalize on this uncertainty to post gains in the coming days.Looking at the 4-hour chart, XAU/USD is hanging i...
Trump’s blood oxygen level ‘dropped rapidly’ on Friday sparking health concerns, Meadows says
Business news

Trump’s blood oxygen level ‘dropped rapidly’ on Friday sparking health concerns, Meadows says

U.S. President Donald Trump walks to the South Lawn of the White House before boarding Marine One in Washington, D.C., U.S., on Friday, Oct. 2, 2020, on his say to Walter Reed National Military Medical Center to be treated for Covid-19, the White House said.Sarah Silbiger | Bloomberg | Getty ImagesPresident Donald Trump's oxygen level fell rapidly on Friday morning fueling concerns about his health, White House Chief of Staff Mark Meadows said Saturday night.In an interview with Fox News host Jeanine Pirro, Meadows said both he and White House physician Dr. Sean Conley were "real concerned" by Trump's condition on Friday morning, after he was diagnosed with Covid-19."He's made unbelievable improvement from yesterday morning when I know a number of us, the doctor and I, were...
DeFi craze propels Uniswap monthly volume to $15.3B, surpassing Coinbase
Crypto News

DeFi craze propels Uniswap monthly volume to $15.3B, surpassing Coinbase

Data from Dune Analytics shows that in the month of September Uniswap decentralized exchange processed $15.371 billion in volume. In the same period, reports indicate that Coinbase processed $13.6 billion.Monthly decentralized exchange volume. Source: Dune AnalyticsThe significant spike in Uniswap’s volume can be attributed to two major factors. First, the explosive growth of decentralized finance (DeFi) and yield farming of governance tokens caused decentralized exchanges to thrive. Second, the launch of Uniswap’s governance token UNI led to a frenzy on the platform.June marked the start of a frenzy in DeFi governance tokens, with Compound’s COMP token kickstarting the phenomenon.The process is relatively simple: DeFi users “farm” new governance tokens by staking various cryptoc...
Trump’s doctor: The president is doing very well, making progress
Forex

Trump’s doctor: The president is doing very well, making progress

Dr. Sean Conley, the White House physician, has said that President Donald Trump is "doing very well." He added that the Commander-in-Chief is receiving multi-disciplinary care and is closely monitored.Trump is free in the past 24 hours and that he said "I am ready to walk out of here today." The president does not receive oxygen and his saturation level is 96%. However, when reporters asked if Trump received oxygen at any point, the doctor only said that the president is not on oxygen right now. He also refused to say when Trump may have been infected.Regarding the discharging of the president, the doctors refused to say when he may leave the hospital. The medical staff adds that the critical period comes between days 7 to 10. The president received Gilead's Remdesivir and a drug by...
Trump’s coronavirus is another jolt of uncertainty for investors
Stock News

Trump’s coronavirus is another jolt of uncertainty for investors

By Matt Phillips and Eshe NelsonThere’s a pandemic, an economic recovery that’s losing steam, stalled stimulus talks in Congress and a deeply contentious election that has raised the specter of a constitutional crisis. As if that were not enough to make investors anxious, President Donald Trump provided another reason to worry in the wee hours of Friday. Trump’s late-night announcement on Twitter that he had tested positive for the coronavirus was the latest in a long list of frustrating variables for investors eager for signs of stability.Perhaps that’s why the disclosure of Trump’s illness had a more muted effect on the market than some presidential health scares of the past.“It’s less of an event than you might think because it hasn’t come out of the clear blue sky, it’s just co...
All Currencies Will Be Pegged to Bitcoin, Says ‘Price of Tomorrow’ Author Jeff Booth
Currencies

All Currencies Will Be Pegged to Bitcoin, Says ‘Price of Tomorrow’ Author Jeff Booth

Entrepreneur and popular author Jeff Booth has predicted a grim future for fiat currencies, expecting them to fail as central banks keep printing money. Foreseeing an unavoidable, severe depression and banking failure, he believes bitcoin will become the world’s reserve currency and all national currencies will be pegged to it.‘Highly Likely’ Bitcoin Will Become the Reserve CurrencyThe author of “The Price of Tomorrow: Why Deflation is the Key to an Abundant Future,” Jeff Booth, has made the case that bitcoin will become the world’s reserve currency and all national currencies will eventually be pegged to bitcoin. Booth published his book in January, detailing why we are due for a financial reset and a new economic framework. The entrepreneur also founded Canada-based technology co...