Monday, November 30

Day: October 20, 2020

AUD/JPY Price Analysis: Bears battle 200-day EMA, multi-day-old support line above 74.00
Forex

AUD/JPY Price Analysis: Bears battle 200-day EMA, multi-day-old support line above 74.00

AUD/JPY fizzles the bounce off one-month low, struggles around the key support confluence near 74.35/25. Bearish MACD, sustained trading below 61.8% Fibonacci retracement favor the sellers.AUD/JPY struggles to keep recovery moves from the lowest since September 28, marked the previous day, while taking rounds to 74.35 during the early Wednesday morning in Asia. In doing so, the pair steps back from the confluence of 200-day EMA and an upward sloping trend line from June 12.Even so, bearish MACD and sustained trading below 61.8% Fibonacci retracement of June-August upside keep the AUD/JPY sellers hopeful.Hence, a clear downside past-74.25 will set the tone for the pair’s downside towards the late-June lows surrounding 73.35/30. Though, the September month’s low of 73.97 can ...
Netflix misses on subscriber additions and EPS
Business news

Netflix misses on subscriber additions and EPS

Netflix reported earnings for its third quarter of 2020 after the bell on Tuesday. The company fell short of analyst estimates on earnings per share and global paid net subscriber additions, but exceeded expectations on revenue.Shares fell more than 6% during after hours trading.Here are the key numbers:Earnings per share (EPS): $1.74 vs $2.14 expected, according to Refinitiv consensus estimate Revenue: $6.44 billion vs $6.38 billion expected, according to Refinitiv Global paid net subscriber additions: 2.20 million vs. 3.57 million expected, according to FactSetNetflix said in its letter to shareholders that the slowed subscriber growth was largely expected. In the same quarter last year, Netflix added 6.8 million subscribers, though this time it's dealing with the...
Kraken’s Cryptowatch ships desktop trading terminal for expert traders
Crypto News, Trading

Kraken’s Cryptowatch ships desktop trading terminal for expert traders

The Cryptowatch platform, a subsidiary of the Kraken exchange, announced on Tuesday the release of its desktop-based trading app.Cryptowatch is a trading terminal that aims to group most market data and exchanges under one roof. Traders using the platform are able to connect their accounts across many popular exchanges and place orders on all of them through a single interface.Up until now, the platform could only be accessed through a web browser. The launch of Cryptowatch Desktop, an application for Windows, MacOS and Linux, aims to provide a similar experience while benefiting from faster native performance.In a demonstration shown to Cointelegraph, the platform appeared fluid and responsive even as the panes with live market data were resized on-the-fly. Tests made by the team ...
EUR/USD: Still neutral, in a wider range
Forex

EUR/USD: Still neutral, in a wider range

Analysts at MUFG Bank, are sticking with their neutral outlook for the euro in the month ahead but are widening the range to reflect building risks. They expect the EUR/USD pair to trade between 1.1400 and 1.2200.Key Quotes:“The euro has continued to lose upward momentum against the US dollar over the past month with the pair falling towards the bottom of our previous range between 1.1600 and 1.2100. It has resulted in leveraged funds cutting back long euro positions at the fastest pace in eight months. Bullish sentiment towards the euro has been dampened by the renewed spread of COVID-19 in Europe.”“We expect the ECB to deliver more stimulus perhaps as soon as their next policy meeting on 29th October although more likely on 12th December. The ECB will at least be relieved though ...
Markets are divesting you from fossil fuels
Stock News

Markets are divesting you from fossil fuels

By Nathaniel BullardOne of the oldest components of the Dow Jones Industrial Average disappeared from the popular market benchmark at the end of August. ExxonMobil Corp., a member since 1928 (when it was Standard Oil of New Jersey) and the world’s most valuable company as recently as 2011, had fallen in value over recent years, but it was finally ousted for technical reasons. That month, Apple Inc. announced a 4-for-1 stock split. The subsequent drop in the iPhone maker’s stock price narrowed its share of the price-weighted Dow. The index provider opted to adjust its component companies—booting out Exxon—to maintain the information technology sector’s weighting. In a year of record-low oil prices, the fossil fuel giant’s demotion might seem like a harbinger of bad news for the energy sec...
Waiting for aid: U.S. airline workers ‘pawns’ in stimulus battle
Commodities

Waiting for aid: U.S. airline workers ‘pawns’ in stimulus battle

By Tracy RucinskiCHICAGO, Oct 20 (Reuters) - When she is not helping her kids with remote school or worrying about her next mortgage payment, Jessica Trujillo spends her days rallying friends and co-workers to lobby Washington for federal aid to protect airline workers who feel their fates are trapped in a political tug-of-war.After so far failing to convince Congress to approve another $25 billion bailout for coronavirus-slammed airlines, the industry is looking to a fresh Tuesday deadline set by Democratic House of Representatives Speaker Nancy Pelosi for a COVID-19 relief deal with the Republican White House.Airlines were hoping for legislation before Sept. 30, when a first package tied to job protections expired despite broad bipartisan support as Democrats and Republicans wres...
DOJ to file antitrust lawsuit against Google
Business news

DOJ to file antitrust lawsuit against Google

U.S. Attorney General William Barr delivers opening remarks at a summit on "Combating Anti-Semitism" at the Justice Department in Washington, July 15, 2019.Erin Scott | ReutersThe Department of Justice will file its antitrust lawsuit against Google Tuesday, which will reportedly focus on the tech giant's dominance in online search.Eleven Republican state attorneys general have joined the DOJ as plaintiffs in the case: Arkansas, Florida, Georgia, Indiana, Kentucky, Louisiana, Mississippi, Missouri, Montana, South Carolina and Texas, according to an open docket of the case filed Tuesday morning.The lawsuit is the culmination of a more than year-long investigation into the company's business practices. Google was previously the subject of a U.S. antitrust investigation by the ...
New Zealand has no imminent plans to issue CBDC, says central bank exec
Crypto News

New Zealand has no imminent plans to issue CBDC, says central bank exec

Financial authorities in New Zealand are in no hurry to issue a central bank digital currency, or CBDC, according to a central bank executive.Christian Hawkesby, assistant governor at the Reserve Bank of New Zealand, claimed that the country has “no imminent plans” to issue a CBDC.In a speech on Oct. 19, Hawkesby said that the bank remains open-minded about further progress in money and payment technologies and has actively engaged in CBDC research. He said:“To issue currency that meets the needs of the public, we must take a new and holistic approach. We acknowledge there is much work to be done. We do not yet have all the answers, nor do we expect to find them alone. However, by working together with New Zealand we want to be ‘on the money’ now and in the future.”The RBNZ’s ass...
USD/CHF slides to over 1-month lows, around 0.9070 level amid notable USD supply
Forex

USD/CHF slides to over 1-month lows, around 0.9070 level amid notable USD supply

USD/CHF witnessed some follow-through selling for the second straight session on Tuesday. Uncertainty over the US fiscal stimulus measures undermined the USD and exerted pressure. The risk-on mood did little to undermine the safe-haven CHF or lend any support to the pair.The intraday USD selling bias picked up pace since the early European session and dragged the USD/CHF pair to over one-month lows, around the 0.9075-70 region in the last hour.The pair failed to capitalize on its early uptick, instead met with some fresh supply near the 0.9110 area and turned lower for the second consecutive session on Tuesday. The downtick dragged the USD/CHF pair away from the 0.9165 supply, or over one-week tops touched in the previous day and was sponsored by the emergence of some f...
Telecoms protocol from 1975 exploited to target 20 crypto executives
Crypto News

Telecoms protocol from 1975 exploited to target 20 crypto executives

Hackers compromised the Telegram messenger and email accounts of multiple cryptocurrency executives last month by exploiting a vulnerability in a decades old protocol.The fraudsters are believed to have been trying to intercept two-factor authentication codes of victims in an attack on Israel-based telecommunications provider Partner Communications Company, formerly known as Orange Israel.The attacks are currently being investigated by Israel’s National Cyber Security Authority, and national intelligence agency Mossad.According to cybersecurity publication Bleeping Computer, the devices of at least 20 Partner clients were compromised.Israel-based cybersecurity firm Pandora Security’s analysis of the event suggests the devices were likely breached via a Signaling System 7 (SS7) at...