CryptoCurrency News: Bank of Canada Paper Weighs Central Bank-Issued Cryptocurrency

Developed and developing economies would see different benefits if their central banks issued a cryptocurrency.

via CoinDesk

CryptoCurrency News: Bitfinex and Tether Break Silence, Go on Media Offensive

One of the world's largest bitcoin exchanges is pushing back against allegations its business is engaging in improper market practices.

via CoinDesk

CryptoCurrency News: Bitcoin Is an Emerging Systemic Risk

The bubble in cryptocurrency threatens the broader financial system, given new buyers’ different motivations from early adopters and use of leverage.

via CoinDesk

CryptoCurrency News: Fed Vice Chair: Cryptocurrencies Threaten Financial Stability

Decentralized currencies could have "spillover effects" on the wider financial system if they get too big, Fed supervision chief Randal Quarles said.

via CoinDesk

CryptoCurrency News: ICE Agent: Cryptocurrencies Increasingly Used in Money Laundering

A U.S. Immigration and Customs Enforcement agent mentions mixing services at exchanges and anonymity-enhancing currencies in Senate testimony.

via CoinDesk

CryptoCurrency News: Almost Half of ICO Funding Goes to Europe, Report Finds

The report by venture capital firm Atomico also found that more than a third of all ICOs were based in the EU.

via CoinDesk

CryptoCurrency News: SF Fed President: No Plans to Put USD on a Blockchain

But central banks will likely continue discussing government-backed digital currency, said John Williams of the Federal Reserve Bank of San Francisco.

via CoinDesk

CryptoCurrency News: ECB's Yves Mersch: Banks Need Faster Payments to Counter Bitcoin

European Central Bank board member Yves Mersch has said banks need to launch instant payments systems to counter the rise of cryptocurrencies.

via CoinDesk

CryptoCurrency News: Coinbase Ordered to Hand IRS Data on Over 14,000 Users

A U.S. court has ordered bitcoin exchange Coinbase to disclose details of more than 14,000 customers to the Internal Revenue Service.

via CoinDesk

CryptoCurrency News: U.K. Won't Accept Cryptocurrency for Tax Bills, Minister Says

The government does plan to regulate exchanges and wallet providers, but won't intervene to help such startups get bank accounts, the minister said.

via CoinDesk

[FOREX NEWS] May government could collapse on a potential Irish border deal

The party may have been too early, and not for the first time. The reported deal on a divorce bill of 45-55 billion euros ran into denials. And also the reports about an upcoming agreement on the Irish border run into obstacles. Theresa May’s government relies on support from the Unionist Northern Irish DUP party. [...]

The post May government could collapse on a potential Irish border deal appeared first on Forex Crunch.

via Forex Crunch

CryptoCurrency News: Down, Not Out? Dash Price Likely to Defend $600

Dash traded over an impressive range Thursday, hitting new highs above $800 before dropping back to around $600.

via CoinDesk

CryptoCurrency News: PwC's Hong Kong Office Accepts Bitcoin Payment

'Big Four' firm PwC recently accepted bitcoin in exchange for advisory services, a news report revealed Thursday.

via CoinDesk

[FOREX NEWS] GBP/USD pierces above 1.35 hopes for a deal on the Irish border

Optimism is rampant for a big Brexit breakthrough. First, we learned that the May is ready to open the checkbook regarding the divorce bill. Now, we also learn that Dublin and London are drawing closer to some kind of an agreement on the Irish border. And to top it off, the Times report also discusses a [...]

The post GBP/USD pierces above 1.35 hopes for a deal on the Irish border appeared first on Forex Crunch.

via Forex Crunch

CryptoCurrency News: Questions of Regulation, Taxation Loom Over Crypto Investors

As the world of cryptocurrencies and ICOs heats up, there are many lingering questions about how tokens will fit within tax and regulatory frameworks.

via CoinDesk

[FOREX NEWS] US Core PCE Price Index rises 1.4% y/y as expected – USD looks good

US data looks good, extending the trend. The core PCE PRice Index rose by 0.2% m/m and enjoyed an upwards revision. Jobless claims slipped to 238K. The US dollar got more reasons to rise. On the last day of November, the US released quite a few pieces of economic indicators. The Fed’s favorite inflation figure, [...]

The post US Core PCE Price Index rises 1.4% y/y as expected – USD looks good appeared first on Forex Crunch.

via Forex Crunch

[FOREX NEWS] Tax cuts for the rich – a rich US dollar

The US Senate is rushing to vote and approve a massive tax cut program. The rise of the threshold for the maximum tax rate to around $1 million will benefit the richest Americans. The cut of the corporate tax will help the stock market, but will unlikely trigger extra growth, at least when factoring the [...]

The post Tax cuts for the rich – a rich US dollar appeared first on Forex Crunch.

via Forex Crunch

CryptoCurrency News: Topped Out? Bitcoin Flirts with Short-Term Bearish Reversal

Bitcoin prices are taking a hit at press time, and could suffer a deeper pullback over the weekend, the price charts indicate.

via CoinDesk

CryptoCurrency News: How Blockstack Counterattacked a Phishing Attempt on Its ICO

When phishing sites tried to con investors during its recent ICO, Blockstack used its tech expertise to turn the tables on the tricksters.

via CoinDesk

CryptoCurrency News: Investors Taking a Risk Buying Bitcoin, Says ECB Vice President

The vice president of the European Central Bank said yesterday that investors are taking a risk buying bitcoin at current high prices.

via CoinDesk

CryptoCurrency News: More Devs, More Destruction: Inside Zcash's Second Crypto Ceremony

Amid criticism of its first security ceremony, zcash has made changes as it prepares for a fork. But has it done enough to silence the skeptics?

via CoinDesk

[FOREX NEWS] Euro zone inflation misses with 1.5% – EUR/USD tumbles down

Inflation is a global issue, better said: lack thereof. Headline CPI missed expectations with only 1.5% y/y in November in the Flash report. Core inflation also fell short with only 0.9%. Good news does come from the unemployment front: a surprising fall to 8.8%.  EUR/USD is falling, hitting a new session low of 1.1810, below [...]

The post Euro zone inflation misses with 1.5% – EUR/USD tumbles down appeared first on Forex Crunch.

via Forex Crunch

[FOREX TIP] Monthly Forex News Events that Might Affect EURUSD Volatility – Dec 2017

Monthly Forex News Events that Might Affect EURUSD Volatility – Dec 2017

The EURUSD has continued to consolidate the gains achieved so far in 2017 and as we enter into the last month of this year we can expect more of the same from EURUSD price action. The Fed seems reluctant to provide any further evidence that they are ready to commit one more rate hike in 2017 and they still haven’t provided a clear timeline to reduce their balance sheet. On the other side of the monetary policy spectrum, we have the ECB which has signaled that it might start unwinding their balance sheet, as well as the inflation expectation, are very close to the ECB target.

In essence, the EURUSD s driven by both central banks: the Fed and the ECB. For the time being the ECB is expected to keep the 2.3 trillion assets purchasing program, but the market move in anticipation of monetary policy decisions which is why the EURUSD has continued to rally throughout this year. The market focus is now shifting to a new month – December which can provide us with plenty of fundamental drivers that can impact the market volatility and the EURUSD exchange rate.

The month of December is set to be a very active month if the current level of volatility will persist. The December seasonal pattern sees the US dollar falling even further so we don’t have reason to expect the current rally to end anytime soon unless a full-scale risk aversion kicks in, which will be bearish for EUR/USD exchange rate. The seasonal pattern only gives us the tendency of a particular currency to exhibit a certain behavior at a certain time, so we have to carefully monitor the pattern and how the fundamental forces interact with the price action. Going forward, we’re going to analyze and disseminate the major news event for the upcoming month that can be the catalyst for higher EURUSD volatility.

“Don’t risk significant money in front of key reports, since that is gambling not trading.”
– Paul Tudor Jones

Monthly Forex News Events that Might Affect EURUSD Volatility – Dec  2017

 

We have to keep in mind that December can also be a very slow month in terms of trading activity because we enter the holiday season.

Firstly, we have the Fed interest rate decision which probably is set to hike rates by 0.25% despite growing concerns over the persistence weakness in inflation. Secondly, we have the ECB, which can give us some hints on its monetary policy and the QE tapering process. With inflation picking up and the EURUSD exchange rate moving higher there are high chances the ECB president Mario Draghi to give hints in regard to the start of the tapering process.

• Tuesday, December 5, 2017 – The EU GDP figures for the third quarter are expected to be released. This is the GDP revised figures and we already saw the EU economy expanding by 0.6% versus the o.4% expected in the Q3. The annualized EU GDP rate stands at 2.5%.
• Friday, September 1, 2017 – First Friday of the new month will bring the NFP job report, which can be the catalyst for some trend development. The market consensus is again for a figure above the 200k mark after we saw a healthy 261k in October. The unemployment rate is also at 4.1%, a level not seen in the last 17 years.
• Tuesday, December 12, 2017 – The US PPI figures are the highlight of the day. The PPI is Fed’s favorite way to measure the inflation and since inflation is so important for the monetary policy, it should be a risk event worth to keep an eye on. The annualized PPI inflation rate stands at 2.8%.
• Wednesday, December 13, 2017 – The Fed interest rate is now the most awaited rate decision in awhile. According to latest FOMC minutes some Fed officials seems concerned with the low level of inflation but according to some Wall Street analysts this won’t stop the Fed from hiking rates one more time this year from 1.25% to 1.5%.
• Thursday, December 14, 2017 – The European Council meeting will bring together the EU leaders. This meeting is important because among other topics the EU economic state of affairs will be on the agenda as well as the Brexit talks.
• Thursday, December 14, 2017 – The ECB interest rate decision and monetary policy announcement is the last chance Mario Draghi has to signal the prospects of a possible tightening cycle.
• Friday, December 15, 2017 – The US government shutdown limits is the main risk event of the day. The US congress needs to vote to raise the debt limit and since the Republican Party already has a comfortable majority the shutdown can be avoided.
• Thursday, December 21, 2017 – The US final GDP figures for the third quarter are scheduled to be released. The US economy grew by 3% for a second quarter in a row and according the general consensus the final GDP figures shouldn’t suffer any changes.
• Monday, December 25, 2017 – Is the Christmas day and the starting day of the holiday season which means that the market will be dominated by low liquidity and low trading activity.

• Wednesday, November 22 – The FOMC minutes will give us further clues into the Fed’s monetary policy.
• Wednesday, November 29, 2017 – The US GDP figures for the 2017 3^rd quarter are scheduled to be released. The US economy is expected to grow by 2.4% which weaker than the Q2 reading of 3.1% increase.

The post Monthly Forex News Events that Might Affect EURUSD Volatility – Dec 2017 appeared first on Advanced Forex Strategies.

from Advanced Forex Strategies

[FOREX NEWS] AUD/USD stabilizing amid positive Australian, Chinese data

The Australian dollar was being carried down by the strength of the US dollar. The greenback enjoyed an upgrade to GDP, hopes for an approval on a tax cut, and also a relatively positive speech from Janet Yellen. Fortunately for the Aussie, it had some better-than-expected data of its own. Here are the key figures [...]

The post AUD/USD stabilizing amid positive Australian, Chinese data appeared first on Forex Crunch.

via Forex Crunch