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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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[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. [...]

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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.

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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.

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[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 [...]

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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.

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[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, [...]

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[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 [...]

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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.

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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.

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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.

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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?

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[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 [...]

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[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.

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[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 [...]

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CryptoCurrency News: Just 400%? Willy Woo's Magic Math for Insane Crypto Returns

High stakes altcoin investor Willy Woo has the math to back up his (at times turbulent) investment thesis.

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CryptoCurrency News: Crypto Corrupts the Youth? South Korea Prime Minister Says So

Prime Minister Lee Nak-yeon reportedly frets about kids selling drugs and pyramid schemes while regulators draft rules for South Korea's exchanges.

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CryptoCurrency News: ICO Pros Call for Self-Regulation Citing SEC Risk

The ICO community must self-regulate to lessen the blows likely to come from enforcement and regulatory actions, said speakers at Consensus: Invest.

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CryptoCurrency News: Bitcoin Price Falls $1,000 in Minutes to Drop Below $10k

The price of bitcoin experienced a dramatic decline today at a time when many major exchanges were showing signs of stress from new interest.

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CryptoCurrency News: Bitcoin 'Ought to Be Outlawed,' Economist Joseph Stiglitz Says

Bitcoin "doesn’t serve any socially useful function," says Joseph Stiglitz, a former World Bank chief economist and onetime adviser to the U.S. president.

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CryptoCurrency News: Tokenized Fund-of-Funds to Raise $100 Million Via ICO

A new tokenized fund-of-funds was announced yesterday that aims to raise up to $100 million via an initial coin offering.

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CryptoCurrency News: China State TV: OTC Bitcoin Platforms May Violate Regulation

Commentary on China's state television suggests a ban on cryptocurrency trading platforms may extend further than startups originally thought.

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CryptoCurrency News: Getting Started? Ether Sets New High Above $500

Ethereum's native token is trading at all-time highs,

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CryptoCurrency News: Wallet Demo Showcases Lightning-Like Network for Ethereum

A Liquidity Network founder has demoed how an ethereum wallet could function using a new off-chain scaling solution.

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CryptoCurrency News: Bitcoin Cash Plans to Increase Its Block Size, Again

Bitcoin cash could have its block size increased next year, according to an early roadmap from Bitcoin ABC.

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[FOREX NEWS] ETH/USD >$500 – Ethereum getting carried after Bitcoin

Bitcoin is not alone in setting new records at very round levels. The price of the second most popular cryptocurrency, Ethereum, is trading above $500. The high so far is $548 but liquidity remains relatively low. The rise today is 8%, below the advance of around 13% that bitcoin is experiencing. But looking at the [...]

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[FOREX NEWS] Bitcoin > $11,000 – also getting a nod from the Fed

New York Fed President Bill Dudley said that perhaps the Federal Reserve should start thinking about its own digital currency. He acknowledges the value of blockchain technology. BTC/UDS is now at 11111.11 US dollar and continues climbing more coming

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[FOREX NEWS] Yellen mostly positive – USD likes it

Fed Chair Janet Yellen sounds slightly more optimistic than last week. The changes may be very subtle, but they are enough to support the dollar. The greenback is already enjoying optimism that Congress will eventually pass a significant tax cut. The greenback is gaining across the board. Yellen’s prepared statement towards her testimony later on [...]

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[FOREX NEWS] US GDP revised to 3.3% – USD extends gains

The US economy grew at an annualized rate of 3.3% in Q3 2017 according to the updated estimate. This is slightly better than 3.2% that was expected and above 3% originally reported. Q2 saw 3.1%. Corporate profits are up but not as much as beforehand. 4.3% q/q, 5.4% y/y. The US dollar was already gaining [...]

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CryptoCurrency News: Overstretched? Bitcoin Price on Shaky Ground After 1,000% Gains

Bitcoin prices are showing the first signs of bull market exhaustion, with several indicators suggesting overbought conditions.

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CryptoCurrency News: Russian Central Bank Issues New Warning Against Cryptocurrencies

Russia's central bank warned against investing in cryptocurrencies in its annual Financial Stability Report released Tuesday.

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CryptoCurrency News: New Zealand Watchdog Warns Investors Over Marketplace ICO

New Zealand's financial markets watchdog has warned citizens from investing in an initial coin offering for an online marketplace.

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[FOREX NEWS] German inflation beats expectations with 1.8% y/y – EUR/USD ignores

A better than expected inflation read from Germany: annual inflation is now 1.8%, a jump from 1.5% in October. Month over month, prices are up 0.3%. We have the same numbers in both the national and HICP measures. EUR/USD is not really enjoying it, extending the slide and reaching 1.1835. Germany was expected to report a [...]

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[FOREX NEWS] Celebrating too soon? Sell opportunity on GBP/USD

Pound/dollar is at its highest level in two months, settling above the 1.34 level after posting a high at 1.3430. The driver is clear: reports about the UK agreeing to high divorce bill. This, in turn, unlocks the next stage of the talks regarding future negotiations. Yet perhaps Christmas came too early for the pound. [...]

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CryptoCurrency News: A New Blockchain ETF Is Up for SEC Approval

Horizons ETFs Management has filed for a new blockchain exchange-traded fund with the U.S. Securities and Exchange Commission.

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CryptoCurrency News: ICO Mania Has Calmed Down a Bit – And That's Not So Bad

While there's plenty of evidence that ICOs are alive and well, attitudes from investors and entrepreneurs appear to be hardening.

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[FOREX NEWS] GBP/USD breaks to a two-month high on Brexit bill deal hopes

A report about the British government accepting to pay a high Brexit divorce bill sent the pound higher. And now it is taking another leg up. Pound/dollar is already trading at 1.3415 1.3428, the highest in around two months. An outline of the Brexit divorce bill is much closer to the EU demands of 60 [...]

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CryptoCurrency News: 90% of Crypto Mobile Apps 'In Trouble,' Security Report Claims

A new report suggests mobile wallets catering to the cryptocurrency market may not be as secure as consumers may desire.

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CryptoCurrency News: Credit for Cryptos: For Better (or Worse) Leverage Trading Is Arriving

The arrival of institutional investors has created openings for services similar to the prime brokerage that banks have long provided to hedge funds.

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CryptoCurrency News: It's Official: Bitcoin's Price Makes History Passing $10k

The price of bitcoin has risen above $10,000 on CoinDesk's Bitcoin Price Index (BPI) for the first time. 

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CryptoCurrency News: TechCrunch Founder Arrington Raising $100 Million Ripple Hedge Fund

TechCrunch founder and Silicon Valley staple Michael Arrington has announced his newest venture – an XRP-denominated crypto hedge fund.

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CryptoCurrency News: Bitcoin Cash Demand Shocked Us, Says Circle Trading Chief

Representatives from several trading-oriented cryptocurrency firms took the stage at CoinDesk's Consensus: Invest event.

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