Tuesday, December 1

Day: October 24, 2020

U.S. reports more than 83,000 coronavirus cases, record daily total, as experts warn of difficult winter
Business news

U.S. reports more than 83,000 coronavirus cases, record daily total, as experts warn of difficult winter

U.S. National Guard Cpl. Kyle Zahn of the 157th Maneuver Enhancement Brigade, physician assistant (PA) Harrison Pham, and certified nursing assistants (CNAs) Jermaine LeFlare and Shameka Johnson process nasal swab samples at a drive-thru testing site outside the Southside Health Center as the coronavirus disease (COVID-19) outbreak continues in Milwaukee, Wisconsin, October 21, 2020.Bing Guan | ReutersThe U.S. reported a record-breaking number of new coronavirus cases on Friday, continuing an alarming surge and stoking concerns from health experts that the nation could be in for a difficult winter.The country reported more than 83,700 new Covid-19 cases on Friday, passing the last record of roughly 77,300 cases seen on July 16 as the U.S. grappled with outbreaks in Sun Belt s...
China’s central bank lays regulatory foundation for CBDC
Crypto News

China’s central bank lays regulatory foundation for CBDC

China’s central bank, the People’s Bank of China (PBOC), published a draft law this Friday that aims to provide regulatory framework and legitimacy for a forthcoming central bank digital currency (CBDC), the digital yuan.The draft law states that the yuan is the official currency of the People's Republic of China whether in physical or digital form.The draft law also appears to take aim at third-party efforts at yuan-backed digital currencies, stating that individuals and institutions are prohibited from making and issuing a currency designed to “replace” digital yuan circulation. This move would presumably criminalize all non-state-sanctioned yuan-backed stablecoins.The punitive measures against violators of this proposed law are harsh: most notably confiscating all profits, destr...
Wall Street closes lower as stimulus deadline nears without deal
Stock News

Wall Street closes lower as stimulus deadline nears without deal

Wall Street’s main indexes closed lower on Monday as Washington lawmakers still appeared to struggle to reach an agreement on coronavirus stimulus ahead of a Tuesday deadline that would make a relief package possible ahead of the Nov. 3 elections.House Speaker Nancy Pelosi said Sunday that in order to push through an agreement before the election, it would have to be settled on by Tuesday.Pelosi and Treasury secretary Steve Mnuchin “continued to narrow their differences” in conversations on Monday and Pelosi was hopeful that by the end of Tuesday there will be “clarity” on whether coronavirus stimulus is possible before Nov. 3 election, according to a spokesperson for Pelosi.Investors were also worried about rising coronavirus cases in parts of the United States and about whether ...
United States CFTC Gold NC Net Positions rose from previous $240.7K to $249.6K
Forex

United States CFTC Gold NC Net Positions rose from previous $240.7K to $249.6K

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if ...
Small midcaps can outperform Nifty in the run-up to Diwali: Gaurav Ratnaparkhi
Stock

Small midcaps can outperform Nifty in the run-up to Diwali: Gaurav Ratnaparkhi

The overall structure shows that small and midcap indices are set to catch up on the upside. So, the broader market is likely to outperform the benchmark index in the run-up to Diwali, Gaurav Ratnaparkhi, Senior Technical Analyst, Sharekhan by BNP Paribas, says in an interview to Moneycontrol’s Kshitij Anand.Q) The week was controlled by the bulls as the Nifty managed to climb above 11,900. What led to the price action on D-Street? A) The Nifty50 posted a positive weekly close for the week gone by. However, it traded in a narrow range and formed an ‘Inside Bar’ pattern on the weekly chart.After the sharp run-up seen in the last week of September and the first week of October, the index entered a consolidation mode for the last few sessions.In terms of the price patterns, th...
How US authorities are using old AML tools to crack down on crypto
Crypto News

How US authorities are using old AML tools to crack down on crypto

The ease of laundering money in the U.S. before 1970 boggles the mind. Prior to the Bank Secrecy Act (BSA) of that year, there were no federal standards for banks to keep records on activity that fell under the category of “suspicious.” There were also no consistent reporting requirements — it was the BSA that established the $10,000 threshold that stands to this day.But it’s not like the BSA banished money laundering from U.S. shores. It wouldn’t even be until 1986 that money laundering was classified as a federal crime — a landmark in global anti-money laundering. Despite that classification, America’s proud tradition of illicit financing continues to this day.The technology behind banking was making huge advances long before the word “fintech” got mouths watering in boardrooms aro...
Rising rates seem to signal a recovery is near, but investors wonder whether they can be believed
Business news

Rising rates seem to signal a recovery is near, but investors wonder whether they can be believed

A worker uses a nail gun while installing trim in a home under construction at a Romanelli and Hughes Building Co. subdivision in Dublin, Ohio, July 9, 2020.Bonds, it would seem, are speaking the bulls' languageTreasury yields rolled to a four-month high last week, the 10-year note reaching 0.84%, as U.S. economic data continue to arrive generally better than expected and the markets anticipate further fiscal-support worth trillions either sooner or later, under this administration or the next.Bonds racked up the style points, too, in ways that Wall Street tends to read as signs of better economic growth to come. The spread between five- and 30-year Treasurys hit nearly a four-year high, and corporate debt has traded firm against the rising government rates.The gust of selling i...
Japan CFTC JPY NC Net Positions: ¥14.2K vs previous ¥20K
Forex

Japan CFTC JPY NC Net Positions: ¥14.2K vs previous ¥20K

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if ...
SP, Nasdaq close higher as stimulus talks in spotlight
Stock News

SP, Nasdaq close higher as stimulus talks in spotlight

The S&P 500 and Nasdaq closed modestly higher on Friday in choppy trading, with investors keeping a close eye on negotiations on a U.S. stimulus package that would ease the economic shock caused by the coronavirus pandemic.The Dow ended lower on the day, moving within tight ranges.Uncertainty over the timeline of the relief legislation has been weighing on Wall Street’s major indexes in recent sessions, with all three indexes posting declines for the week.U.S. House Speaker Nancy Pelosi said it still was possible to get another round of COVID-19 aid before the Nov. 3 election, but that it was up to President Donald Trump to act, including talking to reluctant Senate Republicans, if he wants it.related newsTrump and Treasury Secretary Steven Mnuchin countered that Pelos...
Bitcoin whale clusters pinpoint 3 key levels for BTC price rally to continue
Crypto News

Bitcoin whale clusters pinpoint 3 key levels for BTC price rally to continue

According to Whalemap, there are three major Bitcoin (BTC) whale clusters in the near term that might serve as key technical levels. The $11,857, $12,256 and $12,868 levels would likely act as important support and resistance areas.In previous cycles, whale activity coincided with significant price movements at crucial technical levels. For instance, Cointelegraph reported that a whale sold at $12,000 after “HODLing” for years. In the next few weeks, BTC dropped to sub-$10,000.Bitcoin whale clusters. Source: Whalemap.ioWhat are whale clusters and why are they important?Whale clusters form when whales buy Bitcoin and do not move their BTC holdings. This indicates that whales are accumulating BTC in the areas where the clusters materialize.The larger Bitcoin whale cluster has fo...