Saturday, November 28

Day: October 7, 2020

Linear vs Logarithmic Chart Scaling Explained
Online Trading, Technical Analysis

Linear vs Logarithmic Chart Scaling Explained

The style of chart scaling you use on your price charts is one of those seemingly unimportant details that can dramatically affect how you perceive market action.Linear vs Logarithmic scaling are the two primary chart scaling styles, and both are available in almost every charting platform.The Difference Between Linear and Logarithmic ChartsOn a linear chart, each unit change is treated exactly the same. The change from $1 to $2 looks the same from $10 to $11.On a logarithmic chart, each percentage change is treated the same.Linear charts become useful when you want to see the pure price changes with scaling calculations. Day traders often prefer linear charts.Logarithmic charts are useful when viewing long-term charts. Over the long-term, large price changes are made, which a ...
Price analysis 10/7: BTC, ETH, XRP, BCH, BNB, DOT, LINK, LTC, CRO, BSV
Crypto News

Price analysis 10/7: BTC, ETH, XRP, BCH, BNB, DOT, LINK, LTC, CRO, BSV

Crypto prices may be in a rut but that doesn’t mean product development and acquisitions cease to occur. This week Japanese financial firm SBI Holdings acquired a 100% stake in TaoTao cryptocurrency exchange.With the latest acquisition, SBI now owns two cryptocurrency trading platforms. This suggests that the financial conglomerate is betting on an increase in cryptocurrency trading in Japan and is positioning itself to benefit from it.While countries like China and South Korea have not fully embraced digital currencies, they are racing ahead in testing the feasibility of a central bank digital currency. The South Korean central bank recently announced that it will start the final build and distribution phase of the CBDC pilot scheme next year. However, the central bank has not reveale...
FOMC Minutes: Recovery faster than expected from its depressed second Q2 level
Forex

FOMC Minutes: Recovery faster than expected from its depressed second Q2 level

Minutes of the FOMC's September 15-16 meeting showed on Wednesday that participants noted that the incoming data revealed that economic activity was recovering faster than expected from its depressed second-quarter level.Market reactionThe US Dollar Index showed no immediate reaction to the FOMC's publication and was last seen losing 0.25% on the day at 93.62.Key takeaways as summarized by Reuters"Participants noted that business investment, which had plummeted in the second quarter, appeared to have begun to turn around.""Al­though business contacts indicated that overall business activity had been stronger than they expected, it remained well below pre-pandemic levels.""Several participants agreed it was appropriate to incorporate key elements of the consensus statement int...
Stocks rally, with the Dow up 400 points as Trump urges airline aid
Business news

Stocks rally, with the Dow up 400 points as Trump urges airline aid

U.S. stocks rose on Wednesday after President Donald Trump tweeted support for aid to airlines and other stimulus measures, stoking hope that a smaller aid package could be passed by lawmakers.The Dow Jones Industrial Average traded 418 points higher, or 1.5%. The S&P 500 climbed 1.3%, while the Nasdaq Composite advanced 1.4%.Trump urged Congress to approve airline payroll support, saying that money and aid for small business could be paid for with unused funds from the previous stimulus. Trump also pushed for another round of $1,200 stimulus checks for Americans."This certainly isn't the first time we've seen the market react to Trump tweets, and it probably won't be the last," said Chris Larkin, managing director of trading and investment product at E-Trade. "The seesaw we've...
Coincheck exchange to help CryptoKitties go mainstream in Japan
Crypto News

Coincheck exchange to help CryptoKitties go mainstream in Japan

Coincheck, one of the largest cryptocurrency exchanges in Japan, is expanding its push into non-fungible tokens, or NFTs, with a new partnership with the developer of CryptoKitties.According to an Oct. 6 announcement, Coincheck has partnered with Dapper Labs, which developed one of the world’s most popular decentralized applications launched on the Ethereum blockchain.Coincheck said that the new partnership will bring NFTs to a mainstream Japanese audience by providing exposure to millions of its users. Coincheck plans to integrate the CryptoKitties app into its upcoming NFT marketplace. The exchange is also considering implementing the Dapper Labs-founded Flow blockchain, which is expected to launch by the end of 2020.According to an announcement by Dapper Labs, Coincheck’s upcomi...
EUR/PLN: Bullish breakout remains intact – Rabobank
Forex

EUR/PLN: Bullish breakout remains intact – Rabobank

The bullish breakout in EUR/PLN remains valid despite the pullback from the year-to-date high at 4.6342 to around 4.40 over the summer, Piotr Matys, Senior Emerging Markets FX Strategist at Rabobank, informs.Key quotes“We are of the view that it is too early to declare that EUR/PLN has peaked this year. Another leg higher to around 4.80-5.00 may still unfold in the coming weeks on the back of growing evidence that Poland and a rising number of European countries are struggling to contain the second wave of the pandemic and governments, albeit very reluctantly, are forced to impose second national lockdowns.”“To declare that the bias has shifted to the downside (we anticipate this in 2021 when a coronavirus vaccine is available and we can gradually return to a relative normality) EU...
ICICI Pru Life to raise up to Rs 1,200 crore via NCDs
Stock News

ICICI Pru Life to raise up to Rs 1,200 crore via NCDs

NEW DELHI: ICICI Prudential Life Insurance on Wednesday said it will raise up to Rs 1,200 crore by issuing non-convertible debentures (NCDs) on private placement basis. "The Board of Directors has at their meeting held on October 7, 2020 approved raising capital by issuance of subordinated debt instruments in the nature of rated, listed, redeemable, unsecured, fully paid-up, non-cumulative, non-convertible debentures (NCDs) up to Rs 12 billion," ICICI Prudential Life Insurance Company said in a regulatory filing.The life insurer said the capital will be raised in one or more tranches, for cash, at par on private placement basis.Stock of ICICI Prudential Life closed 0.74 per cent up at Rs 433.80 apiece on BSE. Credit: Stocks-Markets-Economic Times
U.S. stock futures turn higher after Trump appears to change course on stimulus
Business news

U.S. stock futures turn higher after Trump appears to change course on stimulus

Stocks fell on Tuesday after President Donald Trump tweeted the White House would halt stimulus talks with Democrats, but futures moved higher in early trading Wednesday after he tweeted that he would approve a series of relief measures.Dow futures pointed to an opening gain of 200 points. S&P 500 futures and Nasdaq 100 futures also traded in positive territory.President Trump seemingly reversed course on his decision to halt stimulus talks late Tuesday evening, urging Congress in a tweet to approve a series of coronavirus relief measures, including $1,200 stimulus checks for Americans."If I am sent a Stand Alone Bill for Stimulus Checks ($1,200), they will go out to our great people IMMEDIATELY. I am ready to sign right now. Are you listening Nancy?" Trump tweeted.In regul...
Markets will decide on regulations, not the government: Currency Comptroller
Crypto News

Markets will decide on regulations, not the government: Currency Comptroller

Brian Brooks, Acting Comptroller of the Currency said the future of cryptocurrency regulations is in the hands of the people, and not the government.He told Cointelegraph's Alex Cohen at the LA Blockchain Summit that he believes that change tends to happen slowly. While the Internet 1.0 didn’t seem revolutionary, look where we’re at now.“In the end, it’s the market and consumers that will decide the fate of crypto regulation, not the government,” said Brooks, formerly the Chief Legal Officer at Coinbase.He explained that the role of the government is to set up a regulatory framework to prevent money laundering, fraud, and other criminal activities — not to build tech or issue a token.“The government has no history to build products that innovate and offer people good choices. The...
Asian stocks inch up, defy U.S. stimulus gloom
Stock News

Asian stocks inch up, defy U.S. stimulus gloom

SINGAPORE/NEW YORK: Asian stock markets edged higher on Wednesday, brushing off Wall Street's weaker finish, which came after U.S. President Donald Trump abruptly broke off economic stimulus negotiations with lawmakers. Trump cancelled talks with Democrats in a Tweet saying that negotiations will stop until after the election, when he promises a major stimulus bill.That sent Wall Street tumbling and safe assets like the dollar and bonds higher. Investors in Asia, however, seemed less rattled, holding a view that stimulus would be delayed rather than derailed.MSCI's broadest index of Asia-Pacific shares outside Japan crept 0.2% higher to a fresh two-week peak, led by a 0.8% gain in Australia where an expansionary budget lifted stocks.Broad gains in Hong Kong lifted the Hang Seng 0.7...