Tuesday, December 1

Day: October 30, 2020

Impending pennant breakout sets Bitcoin price back on the path to $14,000
Crypto News

Impending pennant breakout sets Bitcoin price back on the path to $14,000

As the weekend approaches, Bitcoin (BTC) price appears set to close out the month with a remarkably strong performance which has many bulls calling for a new all-time high above $20,000 in the near future. Traders attribute these lofty estimates to the fact that BTC appears to have flipped $12,000 to $12,500 to support and barring some unexpected price implosion, Bitcoin is on the path to painting a beautiful monthly candle.Crypto market weekly price chart. Source: Coin360Further ‘bullish’ evidence comes from today’s options and futures expiry which saw $450 million of futures open interest expiring as of Oct.28.According to Cointelegraph contributor Marcel Pechman:“The most recent options expiry for BTC and Ether really provided nothing surprising. Deribit is back to 137K...
Forex

Mexico Fiscal Balance, pesos dipped from previous 139.61B to -33.42B in September

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 ...
Law Decoded: How I learned to stop worrying and love the election, Oct. 23-30
Crypto News

Law Decoded: How I learned to stop worrying and love the election, Oct. 23-30

The United States is girding its loins for an election that has cast a pall over a far longer timeframe than we ever should have let it. But, then again, what did you expect when so many people spent so much of the past year cut off from their normal lives and circles, growing increasingly dependent on social media as a way of connecting with the outside world? Not a recipe for sanity, even if it was a race between sane people.The phenomena of modern information flow has gotten an enormous amount of attention since the last, similarly godawful election cycle, in many ways forcing regular people to think in the uncomfortably paranoiac manner that cybersecurity pros and blockchain programmers in particular are well accustomed to. What is fear of voter fraud but a double-spend problem? An...
Putting a Price on Water: The Nasdaq Veles California Water Index (NQH20)
Commodities

Putting a Price on Water: The Nasdaq Veles California Water Index (NQH20)

By Garrett Conway, Product Analyst SpecialistNasdaq’s unparalleled commitment to identifying and opening new markets places us squarely at the forefront of financial innovation. Where market challenges present undue inefficiency and risk, we see an opportunity to bring our expertise to engage participants and drive solutions.Thus, when our partners, West Water and Veles Water, demonstrated a unique ability to capture transaction-level data in the California water market, light bulbs started going off. We had long been interested in developing a means of determining the fair value of water as a commodity as a key to addressing the risks that cyclical drought conditions bring to bear upon water-stressed locations.However, the lack of a reliable price discovery mechanism stood as ...
US: Wages and salaries are re-gaining lost ground – Wells Fargo
Stock News

US: Wages and salaries are re-gaining lost ground – Wells Fargo

Personal income and personal spending rose above expectations during September. Analysts at Wells Fargo point out that while the income picture is still muddied by changes in jobless benefits programs in September, wages and salaries are re-gaining lost ground.Key Quotes: “The drop in jobless benefits was partially offset by a $248 billion increase in “other,” a supplemental note explained that as Trump’s executive order which offered a $300 weekly top-up.”“After increases across most categories in September, real goods spending is now 4.9% above its pre-pandemic level. Although services still has 7.3% to go, overall real PCE is down just 2.6% from February.”“Goods spending, untrammeled by the virus, is soaring.”Credit: FX Street
Dow falls 400 points, S&P 500 slides more than 1% as Wall Street heads for worst week since March
Business news

Dow falls 400 points, S&P 500 slides more than 1% as Wall Street heads for worst week since March

Stocks fell on Friday, with Wall Street set to wrap up a difficult week as U.S. fiscal stimulus talks broke down, coronavirus cases rose and a slew of companies reported quarterly earnings.The Dow Jones Industrial Average traded 400 points lower, or more than 1%. The S&P 500 dipped 1.7% and the Nasdaq Composite pulled back 2.5% as some tech companies struggled after reporting earnings.The Dow and S&P 500 are down 7.3% and 6.1%, respectively, for the week and were on track for their biggest weekly losses since March. The Nasdaq has lost more than 5% over that time period and was also headed for its worst one-week performance since March.Earlier in the week, Senate Majority Leader Mitch McConnell adjourned the Senate until Nov. 9, making it unlikely for Democrats and Republic...
Wall Street rebounds as market eyes tech results, strong US data
Stock News

Wall Street rebounds as market eyes tech results, strong US data

US stocks closed higher on Thursday, with the technology heavyweights rallying ahead of major earnings reports and upbeat domestic economic data calming investor jitters about surging coronavirus cases.The rebound came after a more than 3% slide a day earlier in Wall Street's main indexes, underscoring heightened market volatility ahead of the presidential election next week and growing fears of another COVID slowdown.Stocks rallied as investors anticipated strong results from a line-up of the biggest names in the U.S. corporate universe - Apple Inc , Amazon.com Inc , Alphabet Inc and Facebook Inc - due after market close."The earnings season so far has resulted in significant positive earnings surprises," said Tim Ghriskey, chief investment strategist at Inverness Counsel in New ...
Indian drugmaker Laurus Labs with 350% stock gain seeks to boost capacity
Stock News

Indian drugmaker Laurus Labs with 350% stock gain seeks to boost capacity

Indian pharmaceutical company Laurus Labs Ltd. plans to spend as much as 15 billion rupees ($202 million) over the next 24 months to expand its production capacity, according to its chief executive officer. “We have a good visibility of orders going forward and this large capital outlay will help us meet the needs of the customers,” Satyanarayana Chava, also the company’s founder, said in a phone interview Thursday after it reported second-quarter profit that rose more than fourfold from a year earlier to 2.43 billion rupees.The pharmaceutical sector is the top performer in India’s $2.1 trillion equity market this year after the coronavirus pandemic turned global investors’ spotlight on health-care companies. Laurus, which supplies ingredients used in antiretrovirals to treat HIV, has se...
New Huawei smartphone will feature a hardware wallet for digital yuan
Crypto News

New Huawei smartphone will feature a hardware wallet for digital yuan

Huawei has announced that its forthcoming Mate40 smartphone series will include an integrated hardware wallet for China’s central bank digital currency, the digital yuan.This will be the first smartphone to feature such a wallet, according to an official Huawei post on Chinese microblogging website Weibo on Oct. 30.The post also promises that users will be able to control and protect their anonymity and perform dual offline transactions. These enable mobile phone users to transfer funds simply by touching their devices together, even if both are offline.“#HuaweiMate40# series is the first smartphone that supports digital RMB hardware wallet, hardware-level security, controllable anonymity protection, dual offline transactions, bringing a new safe and convenient payment experience.”...
USD/JPY to see a steeper decline once below 104.00
Forex

USD/JPY to see a steeper decline once below 104.00

USD/JPY is consolidating weekly losses around 104.40 as concerns remain over the coronavirus spread. The pair is technically neutral in the short-term with risks skewed to the downside, FXStreet’s Chief Analyst Valeria Bednarik reports.Key quotes“Against other rivals, the greenback is firmly up weekly basis, as concerns rule, due to the spread of COVID-19 in the northern hemisphere. Asian and European shares were unable to follow Wall Street and trade in the red, although off daily lows amid better than expected German data.”“Japanese data was generally discouraging, with October Tokyo inflation down 0.3% YoY and the core reading ex-fresh food falling 0.5% in the same period. September Housing Starts fell 9.9%, worse than the 8.6% expected, while Construction Orders were down 10.6%...