Connect with us

Daily Financial News

EUR/USD Forecast Dec. 12-16

audit of the real occasions that will move Euro to Dollar amid the week:

EUR/USD was hit hard by tentative Draghi and fell back to lower ground. Crisp PMIs, and additionally different occasions, anticipate the euro. Will it proceed with lower? Here is a standpoint for the highlights of this current week and an upgraded specialized examination for EUR/USD.

The ECB chose to diminish the measure of month to month bond purchases to 60 billion from April 2017 additionally amplified the program towards the end of the year and to slacken a couple limits. Combined with a timid tone about the way of swelling, EUR/USD in the long run dove. Prior, Italian voters dismisses the protected changes proposed by Renzi, in another hit to standard governmental issues. In any case, here, the euro recouped rapidly. In the US, the ISM Non-Manufacturing PMI beat desires, as business sectors move their thoughtfulness regarding the FED.


EUR/USD day by day diagram with support and resistance lines on it. Snap to augment:

German expansion information: Tuesday, 7:00. As indicated by the underlying read, costs ascended by 0.1% in November. The last read will probably affirm this. Likewise,, the Wholesale Price Index (WPI) is another measure of value weight in the pipeline. WPI ascended by 0.4% last time, and are presently anticipated to ascend by 0.3%.

German ZEW Economic Sentiment: Tuesday, 10:00. The ZEW overview is discharged ahead of schedule in the month. In November, the score kept progressing and achieved 13.8 focuses, reflecting developing idealism. A tick up to 14.2 is on the cards. The all-European number remained at 15.8 focuses and 16.5 is anticipated for December.

Business Change: Tuesday, 10:00. This quarterly figure is slacking yet at the same time conveys some weight. An ascent of 0.4% was seen in Q2 2016, and now we’ll get the number for Q3, which is conjecture to remain at 0.3%.

French CPI (last): Wednesday, 7:45. The second-biggest economy in the euro-zone saw costs slowing down in November as per the underlying read. The last number will likely affirm it.

Modern Production: Wednesday, 10:00. Mechanical yield dropped by 0.8% in September. October could see a bob of 0.2%. Take note of that the bigger nations have as of now discharged their figures.

Streak PMIs: Thursday morning: 8:00 for France, 8:30 for Germany and 9:00 for the euro-zone. As indicated by Markit, the buying administrators’ list for the French assembling part remained at 51.7 focuses back in November, over the 50 point limit isolating development and constriction. A score of 51.9 is normal at this point. The administrations area’s number was 51.6 focuses and 51.8 focuses is anticipated at this point. In Germany, the biggest economy, the assembling area was becoming quicker, at 54.3 focuses and an ascent to 54.6 is on the cards. Germany’s administrations division had 55.1 focuses and a little plunge to 55 is figure. In the euro-zone all in all, the assembling area PMI had 53.7 focuses and the administrations division had 53.8 focuses. Both are relied upon to remain at 53.9.

LTRO: Thursday, 12:00. The European Central Bank runs the Long Term Refinancing Operation (LTRO), a program of shoddy advances to banks. In principle, less loaning suggests more QE, yet the QE address has been replied at the last rate choice. By and by, more credits mean more cash available for use. Back in September, the aggregate loaning remained at 45.3 billion dollars.

CPI (last): Friday, 10:00. As indicated by the underlying numbers, feature CPI was 0.6% y/y, a little ascent from earlier months, on account of stable oil costs. Center swelling stayed at 0.8%. The last numbers for November are relied upon to affirm the glimmer figures.

Exchange Balance: Friday, 10:00. On account of German fares, the euro-zone appreciates a wide exchange adjust. Back in September, the surplus was 24.9 billion euros, superior to anticipated. A comparative result is on the cards for October: 25.2 billion euros.

Daily Financial News

Monero Price starts the Selloff, BitcoinCash and Cardano struggle

Monero Price starts the Selloff, BitcoinCash and Cardano struggle

Monero Price (XMR) tumbled at a double-digit rate today and is likely to continue to fall somewhat , extending its declining trend for a third day straight after hitting a two-month high earlier in the week.

The broader selloff in cryptocurrencies impacted XMR price; the fresh wave of downside volatility in digital currencies was pinged by regulators and the surprise drop in trading volume.

Before the latest crypto market crash, Monero price gained substantial momentum in the last couple of weeks.

it even climbed to the 10th spot in its market capitalization.

n the middle of this month( if launched on time) a spin off or fork of the monero coin called MoneroV will be launched MoneroV affect the monero price in a positive way, people that have monero coins can get 10 moneroV coins for every monero coin. this is always good for the market and Monero went on a small rise. this is now behind us and the prices settled before this announcement was made returning more to its original value.

But for traders and brokers these were a few interesting days where people that saw the market the correct way made good profits

Still Trader’s sentiments overall turned bearishbearish monero price

the main reasons for this are:

crypto exchanges registration with SEC

The U.S. SEC has informed all the domestic cryptocurrency exchanges to get the registration certificate or wait for a crackdown on them.

a crackdown on Japanese exchanges

Japanese authorities are now closely watching digital currencies to protect crypto traders from adverse events, such as Coincheck hack – which resulted in the loss of $500 million worth of coins.

declining trading volume

Lower trading volume is a major factor behind the broader selloff in digital currencies, while the decline of 80% in Google searches indicates the waning popularity of cryptocurrencies.

harsh comments from European regulators.

Regulators started taking actions against cryptocurrencies exchanges to evade illegal activities and price manipulation techniques.

this affects the markets as the hype has settled down.

this affects other currencies in a similar manner as Cardano (ADA), which is the eighth largest cryptocurrency based on market capitalization, plunged more than 6% today to the lowest level since mid-December.

Its market capitalization stands around $5.9 billion, slightly higher from Stellar’s (XLM) capitalization of $5.8 billion.

And Bitcoin Cash (BCH) traded in the range of $1200 in the last of couple week before falling to $1000 level today.

it could be assumed that this will continue to go down till another hype cathes the markets. cryptocurrencies have become already something that is less sexy and more mainstream ,this is good for its development but for those that only invest not so much.

still as a trader you see a volatile market where enough fluctuations happen mostly based on news to make some good trades. good luck


Continue Reading

Daily Financial News

Supreme Court Sides With Bits of Gold in Bank Dispute

Supreme Court Sides With Bitcoin Broker “Bits of Gold” in Israeli Bank Dispute

Upon appeal, the Israeli Supreme Court has rejected the closure of Bits of Gold’s banking facilities at Leumi bank, Tel Aviv.

The Israeli cryptocurrency brokerage’s appeal followed a previous ruling against it that has now been set aside by the higher court.

As Israel and many other countries struggle with the accelerated phenomenon of virtual currencies, Leumi Bank recently made the news for being a particularly blunt in its rejection of Bitcoin.

We should of course not be surprised with the banks attitude towards bitcoin or any other cryptocurrency for that matter. keep in mind that the banks become more and more obsolete because of them. Bits of gold versus leumi

They will keep on loosing money which now they make with ridiculous commissions of work that is fully automated. so they will try to see how they are able to make the operation and acquiring cryptos  as hard as possible knowing that they will never be able to stop them.

There is widespread anticipation that the upcoming G20 Summit in March 2018 will produce a global, moderate framework for a regulatory approach. Set against that are persistent hostile stances the world over from banks, asset managers and even governments towards cryptocurrencies.

Now that the countries understand there is money to be made with Taxation in cryptocurrencies they might want to make sure that the banks stay within their lane. 

Apart from the Israeli revenue service opting to tax cryptocurrency assets as “properties” and other more positive developments dating back to mid-2017, Israel remains a strange mix of genteel acceptance alongside wildly opposing voices.

There is thus Hope But no decision

Bits of Gold has fought a David and Goliath battle since their banker decided it wanted to steer clear of all cryptocurrency-related business.

On record as recently telling another bitcoin-related trader that they simply don’t want the business, Leumi Bank’s hard-line stance is accumulating bad press. The second-largest bank in Israel appears as discriminatory when analyzing virtual currency traders and other digital coin businesses.

During 2017, a customer made a bank transfer to the Kraken exchange site for buying bitcoin worth $1000. The bank identified the request, halted it, and started investigating.

The elated CEO of Bits of Gold, Youval Rouach said that “The court’s decision enables us to focus on the growth of the Israeli cryptocurrency community.”


The February 26 Supreme Court ruling granted Bits of Gold a temporary injunction against their account closure pending further scrutiny by the bank and other parties. The presiding bench declared that the company had “acted transparently and did not violate any provision of law.”

Calling the bank’s concerns “speculative” and turning an unsympathetic ear to the plaintiff, the ruling does, however, allow for the bank to still close the account on any small technical detail that defies legislation. As a record of a public spat around cryptocurrency’s right to be recognized in many ways, the ruling is seen as a victory for the local cryptocurrency community.

One Small Step Forward

Although not as absolute as nations like China that has opted for draconian bans, Israel is a front line for digital coins’ right not just to exist, but also become assets in the true sense of the word. The Supreme Court noted in its written ruling that Bits of Gold had not made itself guilty of the violation of any standing laws since opening its doors for business.


The Bits of Gold v. Leumi Bank case might become something of a test case once the bank applies its mind in scrutinizing the company’s accounts against the backdrop of existing legislation. The outcome will also be informed by sentiment post the G20 Summit due in March as well as other global regulatory trends.

Now that the countries understand there is money to be made with Taxation in cryptocurrencies they might want to make sure that the banks stay within their lane.

This was First Published by coindesk


Continue Reading

Daily Financial News

easyMarkets launches Ethereum and Ripple.

easyMarkets launches the crypto-markets’ best kept secret – Ethereum and Ripple.

The crypto markets are the new frontier of trading, we have seen unprecedented movement – from astonishing peaks to abrupt crashes – behaviors and easyMarkets launches Ethereum and Ripple.movements no other instrument experiences or has experienced previously.

Bitcoin was immensely popular when we introduced it to our customers in 2017. After closely following the innovative cryptocurrency markets we found two more immensely interesting (but less visible) cryptos to add to our offerings – Ethereum and Ripple.

easyMarkets launches Ethereum and Ripple.

Ethereum is a blockchain based cryptocurrency like Bitcoin, whereas Ripple is a cryptocurrency payment protocol, touted as a solution to perform payments for institutional clients. Although Bitcoin was undeniably the markets’ star in 2017 – these two crypto-counterparts had equally impressive movements.

Ripple towards the end of 2017 had a notable 33014% overall climb with a market cap of $83.6 Billion. This was assisted by Ripple’s collaboration with institutional users like American Express.

Ethereum had climbed an astounding 8,885% from the beginning of 2017 until the end of that year with a respectable market cap of 69.3 billion. Purely as a cryptocurrency it seemed to even outdo its forefather – Bitcoin – by completing transactions quicker and more effectively.

they have also lowered our spreads on Bitcoin!

Of course, all of their cryptocurrencies include easyMarkets great trading conditions:

Trading Conditions

  • There’s  zero slippage on the easyMarkets web platform meaning your Ripple trades will be executed at the price you see on your screen.
  • You can trade Ripple during its most active times, around the clock, five days a week.
  • They got you covered with an in-depth eBook and plenty of other trading education resources.
  • Make sure you have an exit plan in place by taking advantage of our 100% guaranteed Stop Loss and Take Profit.
  • They cover your deposit and withdrawal fees, so that the amount you deposit or withdraw is the amount you receive.
  • Negative Balance Protection means you can never lose more than you invest when you trade Ripple CFDs at easyMarkets.
 easyMarkets launches Ethereum and Ripple.
Continue Reading