Forex today: Daily analysis

Trading Discussion Trade Journals
1

Forex today: the greenback is losing ground

22.05.2018

It seems like the rally of the greenback has ended. On Monday, the US dollar index closed below $93.50. Tuesday’s attempts to recover are not successful. The index is below $93.40. No important economic data will be released today. As a result, risks of the further fall exist.
The euro managed to recover after a weekly drop. EUR/USD is moving to the pivot point at 1.1840.

No notable data will be released on Tuesday, however, a further decline of the US dollar will let the single currency to close above the pivot point. On Wednesday, a lot of significant data for the euro will be released. Forecasts are not encouraging, however, if the actual data are greater than the forecast ones, the euro will have chances to stick above 1.1840.

Tuesday is full of events for the pound. The next round of the Brexit talks starts today. Inflation Report Hearings will be released at 12:00 MT time. Whether events will be encouraging, the GBP/USD pair will be able to continue its bullish movement. Up to now, the pair managed to rebound from the support at 1.34 and is moving to the pivot point at 1.35. If Brexit deal meets a deadlock again, there are risks of the GBP’s return to 1.34.

Oil is at good levels amid tensions around Venezuela. The US imposed new sanctions on the country after a re-election victory of Venezuelan president Mr. Maduro. Penalties bar US companies or citizens from buying debt or accounts receivable from the Venezuelan government. Moreover, analysts forecast a further decline in American stockpiles.

Brent is near $80 again, WTI is above $72.70. For WTI it is the highest level since the end of November 2014. Brent has already tested levels above $80 but couldn’t stick there. Let’s see how strong the factors are for the further oil’s rise.

A significant rise of oil highly supports the Canadian dollar. On Monday, USD/CAD broke below two important levels: 1.2850 and 1.2825 (50-day MA). Tuesday is a good day for the loonie as well. The USD/CAD pair has broken the support at 1.2780. No important data are anticipated to be released during this week. The loonie can only rely on the weak greenback and strong oil. Otherwise, it will return to levels above 1.2780.


On Monday, USD/JPY tested the highest level since the end of January - 111.40. However, the pair didn’t gain a foothold and plunged. USD/JPY is near 61.8 Fibo level. If the pair breaks below this level, the further fall to 110.35 can be anticipated.


A forecast of Tom Lee, head of research and strategy at Fundstrat Global Advisors, failed. According to the analyst, Bitcoin was supposed to rise up to $15,000 after the conference Consensus 2018. The digital currency continues trading within $7,700-$8,700. Up to now, Bitcoin is trading around $8,200. The 50-day MA is putting pressure on the cryptocurrency. A significant trading is not anticipated; Bitcoin will continue to trade within the $7,700-$8,700 range.

That is all for today.

As a new user I can’t put all the pictures I wanted so I apologize for that.

2

Forex today: risk-off sentiment is shaking markets

23.05.2018

The US dollar managed to recover after a slight fall. The US dollar index is near $93.80. Today traders will pay attention to Fed’s meeting minutes at 21:00 MT time. If the speech is more hawkish, the greenback has chances to stick to new highs near $94.
The euro is continuing to fall. EUR/USD is near the support at 1.1720. No important economic data will be released today. If the pair is able to break 1.1720, the next weekly pivot point support is at 1.1680. Moreover, on the weekly chart, we can see that the upper boundary of the Ichimoku cloud lies at 1.1680 as well. It will strengthen a possibility of the pair’s rebound.

The pound fell because of weak economic data and continuing pressure of the Brexit deal. A new round of Brexit negotiations is taking place in Brussels from Tuesday to Thursday.

GBP/USD broke the support at 1.34 and tested the next one at 1.3350. On Thursday, retail sales data will be released and the BOE governor will give a speech. Whether retail sales’ data will be greater and Mr. Carney will give positive clues on the UK economy, there are chances of the pound’s recovery.

US president’s comments increased risk-off sentiments. Mr. Trump said that he isn’t pleased with talks with China. Moreover, Donald Trump has doubts on the summit with North Korea. The third issue that the US has to solve is Iran nuclear deal. The US withdrew from the deal, however, it hasn’t produced a realistic path to a new one yet.
USD/JPY fell amid new risks. The pair broke below 61.8 Fibo level and the support at 110.35. Up to date, USD/JPY is trading near 200-day MA. Whether the pair is able to break the MA, there are risks of the further fall to 109.77. If risks ease, the pair has chances to return to levels above 110.35.


The New Zealand dollar is declining. NZD/USD tested levels above 0.6940 because of a positive milk price forecast by Fonterra. It is well-known that the dairy industry is a huge driver of the New Zealand’s economy. However, the forecast didn’t support the NZD/USD pair. Unexpected comments of the Reserve Bank of New Zealand pulled NZD/USD down. Although currently, it doesn’t aim at introducing the unconventional monetary policy, there is a possibility of implementing a quantitative easing in a crisis. As a result, the pair broke the support at 0.69. No significant data will be released today. But on Thursday, trade balance’s data will be released. The forecast is much greater than the previous data. If the actual one is greater than the forecast, there is an odd of the pair’s rebound above 0.69.

That is all for today.

3

Forex today: risk-off sentiment is still actual

24.05.2018

The US dollar is falling. On Wednesday, the greenback managed to test levels above $94, however, didn’t stick there and closed at $93.90. On Thursday, the US dollar index is climbing down. The reason is a Wednesday’s meeting of the Fed. According to the report, the central bank is not going to hurry to increase the pace of rate hikes. The market already anticipates 2 additional rate hikes this year. That’s why investors need clues on a bigger number of rate hikes. The US dollar index is trading near $93.80.
There was a big fall of the euro yesterday as economic data appeared to be weaker than expected.

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Up to now, EUR/USD managed to recover and is trading near the resistance at 1.1720. The European Central Bank will release its report of the most recent meeting today at 14:30 MT time. If the central bank is hawkish, the euro will have chances to rise further. Otherwise, no important economic data and events will be out today. So there is a risk that EUR/USD will not be able to break the resistance at 1.1720.

A new round of Brexit negotiations will end today, however, some headlines have already affected the pound. There are talks that Theresa May is going to ask the EU to prolong the transition period to 2023 (up to date, the period has to end at the end of 2020). On Wednesday, the UK currency closed below the pivot point support at 1.3350. However, comments on Brexit deal managed to encourage GBP, so, GBP/USD is trying to break above 1.3350. More positive news on the Brexit deal will support the further movement above 1.3350. Moreover, traders should pay attention to retail sales’ data at 11:30 MT time. The forecast is encouraging. If the actual data is greater than the forecast one, the pound will get an additional support. The last but not least, the BOE governor Mr. Carney is giving two speeches today (11:00 MT time and 20:00 MT time). Whether the governor sounds hawkish, the pound will rise.


More positive news for the yen. The risk-off sentiment is increasing as North Korea officials suggested reconsidering the summit with the US. Moreover, US president Mr. Trump announced a possibility of new tariffs. The US Commerce is initiating an investigation into auto imports.

The USD/JPY pair is near the support at 109.70. Yesterday the pair couldn’t break this level, however, a weaker US dollar and the risk-off sentiment are putting pressure on the pair again. However, if we look at the weekly chart, we can see that the pair at a strong support: the pivot point support, 50.0 Fibo level, and 100-week MA. It means that a chance of the further fall to 108.50 is not high. A risk of a pullback to 110.35 is more likely.

The Canadian dollar is continuing to fall. The first reason is an oil’s depreciation. The second reason is a Canadian government’s ban on a takeover of construction firm Aecon Group Inc. by a unit of China Communications Construction Co. USD/CAD broke the resistance at 1.2825 and tested the next resistance at 1.2850. Whether the pair is able to close above 1.2850, there is a possibility of the further rise to 1.2950. However, the greenback’s depreciation may slow down the further rise. So the pair will stay within 1.2825-1.2850.

That is all for today.

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4

Forex today: lots of movements

28.05.2018

It’s a bank holiday in the US. As a result, no important data will be released. The US dollar index is falling. It has declined to $93.90 from the Friday’s high of $94.20. The next line of support is at $93.50. Tomorrow traders will take into consideration CB Consumer Confidence. If data is higher than anticipated, the greenback will have chances to rebound.

Euro is recovering on Italian news. A new Italian government failed to be formed
as a president rejected a eurosceptic finance minister. As a result, the populist prime
minister, Giuseppe Conte, resigned. The Five Star Movement is considering proposing
impeachment of the President.

The euro is in the environment of uncertainties. On the on hand, the Eurosceptic finance minister was rejected, on the other hand, it’s unclear what will happen to Italy. EUR/USD has tested the pivot point at 1.17, however, didn’t stay above the level and declined. The trading is still bullish, however, it’s not extensive. If EUR/USD is able to close above the pivot point, there is a chance of the further rise. However, the trendline is an additional resistance for the pair. Tomorrow traders should pay attention to M3 Money Supply’s data. If it is greater than the forecast one, the euro will be supported. However, if the US dollar manages to recover tomorrow, the euro will turn around.

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5

Forex today: lots of tensions

29.05.2018

The US dollar index is above $94.50. Today traders will pay attention to consumer confidence data (17:00 MT time). The forecast is weaker than the previous data. However, if the actual one will be greater than the forecast, the US dollar will be able to rise further. The resistance is at $95.
The euro is continuing to fall on Italian uncertainties. New election, forming of a “neutral” government, a possibility of impeachment of Italian president are still in the arena. Moreover, today’s economic data weren’t highly encouraging. Money supply data was at the same level of 3.9% as expected, private loans fell (2.9% vs 3.2%).

EUR/USD broke the support at 1.1580 and moving further. The next aim of bears is 1.1520.

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6

Forex today: the greenback is climbing down

30.05.2018

Something you should definitely know. George Soros warns about another financial crisis. According to the legendary billionaire, rising anti-European Union sentiment, the disruption to the Iran deal, a soaring dollar and investors taking money out of emerging markets are adding up to bad news for the global economy.

The US dollar index couldn’t break the resistance at $95, so it rebounded. The index is below $94.50. The support lies at $94.30. Today traders will pay attention to nonfarm employment change (15:15 MT time) and prelim GDP (15:30 MT time). The forecast isn’t encouraging, however, if the actual data are greater, the greenback will be able to rebound.

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7

Forex today: appreciation against the USD

31.05.2018

The US dollar index strongly fell on Wednesday because of weak economic data. Prelim GDP growth was weaker than the forecast one by 1 percentage point (2.2% vs 2.3%). ADP nonfarm employment change was weaker as well (178K vs 191K). Up to now, the US dollar index is below $93.90. The support lies at $93.50. A lot of economic data will be released today. If actual data are greater than the forecast ones, the US dollar will be able to recover.

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8

Forex today: the USD is falling again

04.06.2018
The US dollar index is falling again. It has tested levels below $94. No important data will be released today. The support lies at $93.70.

The EU economic data aren’t encouraging today. However, the euro managed to rise because of the US dollar’s weakness. EUR/USD rebounded from the support at 1.1650. Up to now, the pair is moving to the resistance at 1.1750 (100-hour MA). The further fall of the greenback will let the pair close above the resistance. Otherwise, the pair will trade within 1.1650-1.1750. Tomorrow a lot of economic data will be released. If they are encouraging, the euro will have chances to continue the upward movement.

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10

Forex today: the USD continues to plunge

06.06.2018

The US dollar index is lower and lower. It is trading near $93.65. Forecasts for today’s economic data aren’t encouraging. If the actual data are greater than the forecast, the US dollar will have chances to find a foothold. Otherwise, the index will fall to the support at $93.50.

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13

American stocks start with a minor dip

08.06.2018

On Friday, at the start of the trading session, American stock indices demonstrated a moderate dive in anticipation of the gathering of leaders of G7 countries. As a result, the American stock market has concluded the trading week in positive territory.

As a matter of fact, the Dow Jones Industrial Average index inched down by 0.18% and came up with an outcome of 25196.56. Besides this, Standard & Poor’s 500 slumped by 0.16% reaching 2765.91. Nasdaq Composite dipped by 0.35% amounting to 7608.62.

Equities of Apple Inc declined by 1.8% following the NikkeiAsian Review news that Apple’s orders for the assembly of the fresh iPhone that the tech giant is anticipated to roll out in September, will turn to be 20% lower than in 2017.

Previously, the publication informed that in September 2018, Apple is about to introduce three fresh models of the iPhone, and two of which are going to come with costly screens with organic light-emitting diode technology. Another new model is supposed to feature a more economical LCD-screen, employed in the line of iPhone 8.

The stocks of the manufacturer of Broadcom microchip headed south by 3.1% right after the publication of the news after the market concluded the day before.

In addition to this, the equities of DocuSign startup, which develops electronic signature technology as well as digital transaction management, went up 2.3% because of strong quarterly financial indicators.

Capitalization of Verizon Communications Inc, which appears to be the second-largest American telephone operator, headed south 0.8%. The tech-giant announced the appointment of technology director Hans Westberg as the fresh CEO. On this post he’s going to replace retiring Lowell McAdam, heading the company since 2011.

The tension between America and the rest of the long-awaited summit is tacking on, as the participants are still unable to come to compromise on international trade.

14

Taiwan’s share market inches down

11.06.2018

On Monday, the Taiwan stock market declined in the face of negative dynamics of the country’s sectors, including the textile industry as well as the hotel business.

Taiwan Weighted headed south by 0.06% on the Taiwan Stock Exchange.

The top-notch performers amidst the components of the Taiwan Weighted Index were the equities of Loop Telecommunication International Inc that rallied by 10.00% ending up with 25.85. The stocks of Sigurd Microelectronics Corp slumped by 10.00% being worth 41.25. Moreover, Paper Airmate Cayman International Co Ltd managed to ascend by 10.00% demonstrating a result of 22.55.

On the contrary, top losers were represented by the equities of Alchip Technologies Ltd that headed south by about 8.48% concluding the trading session at 151.00. AS for the stocks of Sun Race Sturmey-Archer Inc, they ascended by 6.87%, showing 44.05. Lead Data Inc went down 6.72% trading at 7.49.

The total number of depreciated securities on the Taiwan Stock Exchange (435) surpassed the number of those, which concluded up (375). At the same time quotations of 101 stocks didn’t change.

The equities of Loop Telecommunication International Inc. managed to ascend to its maximum, adding approximately 10.00% being worth 25.85. Additionally, the equities of Sigurd Microelectronics Corp soared to their historic peak, adding 10.00% coming up with a reading of 41.25.

Meanwhile, in the commodity market July delivery WTI futures went down by 0.32% hitting $65.53 per barrel. As for August delivery gold futures, they went down by 0.07% demonstrating an outcome of $1.301.80 a troy ounce.

In addition to this, in the foreign exchange market the currency pair USD/TWD tumbled by 0.16% ending up with 29.802. The currency pair TWD/CNY managed to ascend by 0.33% hitting 0.2154.

Besides this, the futures on the USD index went down by 0.13% hitting 93.43.

15

Forex today: movements are mild

12.06.2018

It happened! US President Donald Trump met with the North Korea’s leader Kim Jong-un. According to an announcement of Mr. Trump, countries came to an agreement and a process of denuclearization will start very soon.

The US dollar index can’t rebound from the psychological level of $93.50. The index tried to reach the resistance at $94, however, it couldn’t and returned to $93.50. Today traders will look at economic data. Inflation figures will be out at 15:30 MT time. If the actual data are greater than the forecast ones, the US dollar index will go up again. Otherwise, a fall below $93.50 is anticipated.

The euro can’t break the resistance at 1.18 for several days. No significant economic data are released on Tuesday. The movement of EUR/USD will depend on the strength of the US dollar. If the US dollar increases after the release of the economic data, EUR/USD will not be able to close above 1.18. Otherwise, the pair has chances to break above 1.18.

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Economic data were neutral for the pound.

GBP/USD is testing the resistance at 1.34 (the pivot point). No more significant economic data will be released today, as a result, there are risks of the pound’s fall. The support is at 1.33. The resistance is at 1.35. GBP/USD is anticipated to trade near 1.34.

USD/JPY tested the significant resistance at 110.20 (200-day MA and 50-week MA). Trade and geopolitical tensions are mild, as a result, the yen is weak. The greenback needs to strengthen to pull the pair above the resistance. Otherwise, the pair will trade within 109.70-110.20.

Oil managed to rise, however, it doesn’t support the Canadian dollar. USD/CAD is rising. However, the pair is still within 1.2950-1.3040. The further movement will depend on the US dollar. If it’s strong, the pair will be able to reach the resistance at 1.3040. Otherwise, the pair will go to the support at 1.2950.

No changes in directions of other currencies.

That is all for today.

16

ECB meeting is key for the EUR

13.06.2018

The euro is under pressure. Its fall continues since the middle of April. EUR/USD reached the lowest levels since November 2017. A strong plunge of the single currency is caused by the weak economic data. The European economy suffers because of political problems in Italy, the Brexit deal, and trade wars.

The European Central Bank will release the interest rate at 14:45 MT time on June 14. At 15:30 MT time, the central bank will hold a press conference.

The ECB has been keeping the interest rate on hold since March 2016. Investors don’t expect the interest rate to be changed as the central bank hasn’t ended the quantitative easing yet. At the previous meeting, the ECB stated that “members broadly agreed that an ample degree of monetary policy accommodation remained necessary to accompany the economic expansion and secure the gradual convergence of inflation to levels below, but close to, 2%. The remaining uncertainties and the still muted underlying inflation pressures continued to justify caution and underlined the need to maintain patience, persistence, and prudence with regard to monetary policy”. It puts additional pressure on the euro.

If the central bank stays cautious this time as well, the euro won’t have chances to recover.

• Dovish ECB – weak euro;

• Hawkish ECB – strong euro.

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17

China demonstrates signs of slowing economic surge

14.06.2018

China’s major financial institution has been heavily distracted by the immediate soar in borrowing costs after the American Federal Reserve System, while Chinese economic data for May disclosed that the economy of the leading Asian country is losing momentum.

In May, in this Asian country industrial output tacked on by up to 6.8% in contrast with 2017, as the National Bureau of Statistics revealed. It turned out to be lower than the previous reading of 7% as well as experts’ estimate of 6.9%.

Additionally, the bureau informed that in May retail sales went up by only 8.5%, although market experts had hoped for a 9.6% leap after a soar of 9.4% in April.

Investments in fixed assets rallied by 6.1% in May in contrast with the same period of 2017, which is also lower than the estimate of market experts as well as the previous reading of 7%. Evidently, it appeared to be the slowest surge since 1999.

In May, the unemployment rate in urban areas went down to about 4.8% versus April’s reading of 4.9%.

With a steep slowdown in lending surge as well as the threat of an escalating trade dispute with America, China’s enterprises are coming across increasingly quite prospects. The country’s major bank made an attempt to back surge by ramping up liquidity and although it can still lift the Fed’s rate for market experts, the very fact that it didn’t do so right now is interpreted as an indication of concern about the Chinese economy.

The data is 100% confirmed by a slowdown in industry as well as retail trade in May that points to a slowdown in GDP for the second quarter.

China’s attempting to provide liquidity for the purpose of mitigating any economic downturn and assisting lenders in meeting their repayment obligations.

18

Asia-Pacific stocks are multidirectional

15.06.2018

On Friday, Asia-Pacific equities demonstrated different directions amid worries of trade wars. It’s due to the fact American leader Donald Trump approved duties on Chinese goods worth nearly $50 billion. Previously, the Chinese government told that it would adequately respond in case of new tariffs from the US.

The common currency went down abruptly yesterday after the ECB uncovered its plans to stop its program of purchasing bonds and pledged to keep interest rates for about a year.

Japan’s currency went down a bit after it became known that Japan’s key bank, based on the outcomes of the two-day gathering, left the deposit rate intact at -0.1%, while the target yield level of 10-year bonds was left at 0%. Additionally, the major bank still intends to purchase government bonds at an annual rate of about Y80 trillion.

The Australian market keeps ascending mostly due to upbeat signals from Wall Street as well as higher commodity prices.

As for the banking sphere, Westpac, National Australia Bank, Commonwealth Bank and ANZ Banking managed to ascend in the range 0.6%-1.3%.

Besides this, Rio Tinto went up by nearly 1%. As for BHP Billiton, it gained 0.5%, Fortescue Metals edged up by 0.1% backed by leaping iron ore.

BHP Billiton reported it’s on the verge of spending $3.9 billion for the purpose of developing its majority stake in South Flank, thus generating over 600 permanent jobs.

Besides this, the gold digger Evolution Mining ramped up its capitalization by over 1%, Newcrest Mining gained more than 2% right after gold got to its monthly maximum.

The Japanese market demonstrated good profits due to upbeat replies from Wall Street as well as a weaker Japanese yen.

Among the key exporters, the equities of Canon rallied by 0.2%, Panasonic soared by 0.3%, while Mitsubishi Electric and Sony lost nearly 1%.

19

European equities go down on trade tensions

18.06.2018

On Monday, European equities kept diving for a second day because concerns over a trade conflict between the United States and China kept market participants on the edge. Meanwhile, cable manufacturer Nexans slumped following a revenue warning.

The STOXX 600 index dived 0.6% after Donald Trump powered trade tensions by proceeding with his tough tariff stance on China’s imports, giving the Chinese government grounds to instantly respond.

Germany’s DAX sank by 0.8%, suppressed by concerns that a downtime over migration policy could have Merkel’s three-month-old coalition government destabilized.

Other suppressing factors for the German index were represented by software maker SAP, sportswear maker Adidas and industrial group Siemens – all of them declined 1%-1.9%.

France’s Nexans went down 18.2%, while its Italian outcome headed south 2.2%.

French gas and power group Engie headed south by 2.2% having told unscheduled outages at its Belgian nuclear reactors are going to have an impact of nearly 250 million euros on its net and core revenue this year.

In general, deal-making activity powered stock moves.

Norwegian Air Shuttle ascended 8.5% after Lufthansa told it was cooperating with the Norwegian carrier as for a probable combination.

Norwegian drew attention of British Airways owner IAG. As a result, IAG managed to ascend 1.1%, while Lufthansa equities went down 0.1%.

In addition to this, mid-sized financial institution Virgin Money jumped by 2.5% after CYBG approved a 1.7 billion-pound deal to buy its counterpart, thus creating the UK’s sixth-largest financial institution. Meanwhile, CYBG managed to gain 0.1%, Virgin Money pared profits, being nearly intact.

Aerospace supplier Cobham tacked on by 5.5% following an upgrade to overweight. The upgrade was carried out by Morgan Stanley. Market analysts point out that the company’s current managers have managed to stabilize performance. All the necessary measures have been taken to ensure operational delivery.

20

American equities go down suppressed by trade clashes

19.06.2018

On Tuesday, American futures pointed to a dive amid soaring worries about the trade conflict.

The Dow blue chip index headed south by 1.31% being worth 24688.0, the S&P 500 futures sank by 1.10% ending up with 2,749.25. As for the futures of high-tech Nasdaq 100, they slumped by 1.04% demonstrating an outcome of 7200.00.

Tensions in trade relations between China and the United States resumed. The both leading economies keep threating each with further tariffs on imported stuff.

The latest event was Donald Trump’s threat to impose extra tariffs on China’s goods worth $200 billion. Donald Trump stressed that the new American tariffs will come into force in case China denies to change its approach to trading and proceeds with imposing new duties on US goods.

On Friday, US leader uncovered the introduction of a 25% tariff on China’s goods worth approximately $50 billion. Responding to this move, the leading Asian country came up with a 25% tariff of $34 billion on US stuff, including soybeans and vehicles.

The equities of companies in most sectors of the American economy headed south. The equities of Apple inched down by 0.92%, the stocks of Twitter Inc lost 1.74%, while the stocks of General Electric went down by 1.59%. As for the equities of Tesla, they edged down by nearly 1.8%. Additionally, the stocks of JPMorgan decreased by 1.23%, while the stocks of Intel lost 1.32%.

As for the shares of Intuit, the company specializing in software development, they dived by 0.40%.

European equities found themselves in the red zone. France’s CAC 40 declined by 1.03%, Germany’s DAX lost 1.24%, while London’s FTSE 100 headed south by 0.41%. As for the European Euro Stoxx 50 index, it tumbled by 1.10%, while the Spanish IBEX 35 lost 0.72%.

21

Daily News: a big day for Central Banks

More at:

20.06.2018

A day will be full of speeches of central banks’ Kings! Mr. Lowe, the Governor of the Reserve Bank of Australia, Mr. Draghi, the President of the European Central Bank, Mr. Kuroda, the Governor of the Bank of Japan, and Mr. Powell, the Chairman of the Federal Reserve will participate in a panel discussion at the European Central Bank Forum on Central Banking, in Portugal (16:30 MT time). Let’s see what new they are ready to present.

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22

WeeklyCryptoNews

22.06.2018

Just for fun!

John McAfee, founder of McAfee Inc.: "All ICOs are Securities! I will not now, nor will I ever, accept this as a reality. I am submitting, now, to this law, but I will fight with every last breath to ensure that this absurd overreach by the SEC will not stand!! It will not stand!”

Several days later…

“Due to SEC threats, I am no longer working with ICOs nor am I recommending them, and those doing ICOs can all look forward to arrest. It is unjust but it is reality. I am writing an article on an equivalent alternative to ICOs which the SEC cannot touch. Please have Patience.” What can we say? Mr. McAfee and show are synonyms.

Cryptocurrencies

Bitcoin is lower and lower. The cryptocurrency couldn’t stick above the resistance at $6,500 and it plunged. Up to now, the digital currency is trading around $6,250. The support is still at $6,000.

On the daily chart, the “Flag” continuation pattern was formed. It signals the continuation of the bearish trend.

According to Tom Lee, a reason for the Bitcoin’s correction is Bitcoin Futures.

The Bank of Korea won’t launch its own cryptocurrency yet. According to the Bank, digital currencies are too risky and an implementation of such assets will cost a lot to the society and even can inflict moral damages. However, the Bank doesn’t refuse that it can launch it later. But it may happen only if the cryptocurrency will be carefully tested.

The Head of Circle Jeremy Allaire said that every fiat currency will have a cryptocurrency counterpart. He also announced a launch of USD Coin – a stable cryptocurrency that will be dollar-backed.

If you want to use cryptocurrencies, you should go to Australia. A pharmacy started accepting cryptocurrencies as a payment in one of the cities. Buyers can pay for medical supplies with Bitcoin, Litecoin, Dash, and Ethereum. It’s worth saying that you can use cryptocurrencies in different places in Australia. For example, citizens can buy Bitcoin and Ether in news stalls.

A cryptocurrency project Turcoin of an Istanbul company Hipper appeared to be a financial pyramid. One of the founders left the country with the money of investors. Sells of the altcoin started in October 2017. Founders of the token called the Turcoin a national cryptocurrency and had been organizing events for investors with celebrities and expensive presents. However, it appeared to be a scam.

A representative of Goldman Sachs said that the company is working on services to work with cryptocurrencies. The company is going to launch its own flexible version of futures, known as a non-deliverable forward. Moreover, the bank will implement futures, trading payments on which will be carried out in Bitcoin, and not in fiat currencies.

However, previously the СЕО Goldman Sachs Lloyd Blankfien announced that Bitcoin doesn’t deserve his attention and that he doesn’t use cryptocurrencies.

According to a research, Bitcoin mining consumes a half of electricity it is supposed to consume.

Cryptocurrency exchanges

Hackers attacked the cryptocurrency exchange Bithumb and stole 35 billion South Korean Won (about $31 million).

Blockchain

The Bank for International Settlements declared that if blockchain is used for daily payments, the Internet may stop working. The bank thinks that only supercomputers will be able to support retail transactions with the necessary power. It’s well-known that the Bank has a negative attitude to Bitcoin and blockchain. The General manager of the bank said that Bitcoin is a bubble, Ponzi scheme, and an ecological disaster.

The Department of Homeland Security (US) allocated the fourth grant to the blockchain startup Factom. The received financing in the amount of about $192K will be used to test a platform that is supposed to protect data received from security cameras and sensors of the US Border Service. Factom received the first grant from the US government in 2016.

Bitcoin $6,385 (-5.35%)

DASH $244.78 (-8%)

Ethereum $493.80 (-7.74%)

Litecoin $89.357 (-8.24%)

23

German business morale shows its worst reading for more than a year

25.06.2018

In June, German business confidence slipped to its lowest value for more than a year, thus dropping a hint that the mood among company executives in the EU’s number one economy is worsening as the world is getting closer to a full-fledged trade conflict.

Activity in all four sectors gauged by the Munich-based Ifo institute in the survey conducted on Monday - services, trade, manufacturing as well as construction – headed south, contributing to signs the German economy is currently speeding down after the previous year’s boom.

Ifo told that its business climate index slipped to about 101.8, which is the lowest outcome since May last year. The given outcome was a bit firmer than anticipated in a Reuters consensus estimate of 101.7.

However, market experts excluded an economic downtime. Additionally, they forecast the German economy would keep soaring although at a slower tempo than the previous year’s outcome of 2.5%.

The mild dive reaffirms expert’s narrative of the German economy speeding down to a normal surge level. However, it shouldn’t be regarded as a downturn or recession.

Much of the German data released in 2018 has pointed to the fact that the German economy is speeding down.

Industrial activity as well as exports happened to be dismal in the first four months. Additionally, American leader Donald Trump is currently threatening to put huge duties on car imports from the European Union - a trade that Germany has always dominated.

Moreover, German business leaders are also concerned by the fact that a parallel trade feud between Beijing and Washington could harm exporters, traditionally relying on the world’s two leading economies for surge.

Some market experts point out the economic boom has already stopped and Germany’s economy is demonstrating signs of normalization.

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