Posts belonging to Category US Dollar



“Due To Popular Demand” Goldman Starts Covering Bitcoin

Bitcoin officially made its way to Wall Street

It’s official: not only has bitcoin officially made its way to Wall Street, but confirming rumors that emerged over the weekend, “hedge” funds – starved of volatility in virtually all other asset classes –  are now not only actively trading the volatile digital currency, but as clients of the vampire squid, have petitioned Goldman’s chief technician, Sheba Jafari to start covering it.

In the report that Goldman released this afternoon ago, Jafaru concludes that “the balance of signals are looking broadly heavy” with the following view: “wary of a near-term top ahead of 3,134. Consider re-establishing bullish exposure between 2,330 and no lower than 1,915.

http://www.zerohedge.com…   Wed.,  14  June 2017

US debt default would be like Lehman crash

Raising the debt ceiling

A U.S. debt default would create significant confusion and uncertainty in financial markets and could prove as catastrophic as the failure of Lehman Brothers in 2008, the Organization for Economic Cooperation and Development (OECD) said in a new report.

Lawmakers in the U.S. side-stepped a debt default at the 11th eleventh hour in October and brought an end to prolonged negotiations over raising the debt ceiling. But talks are set to resume in the new year with the debt ceiling extended until February 7 and funding approved until January 15.

“An outright default would have extremely severe effects” the OECD said in the report, released on Tuesday.

http://www.cnbc.com…  Mon.,  12  June 2017

The Pound weakness

It’s ‘time to get bearish’ on the pound again

Deutsche Bank has turned bearish on the pound once again, saying that any possible upside for the currency from next week’s election has already been priced into the market.
Writing on Tuesday, Deutsche Bank strategists Alan Ruskin and George Saravelos used their latest FX Blueprint note to warn investors it is “time to get bearish on GBP again,” after just over one and a half months of a positive outlook on the UK’s currency.

http://www.businessinsider.com…  Wed.,  31  May 2017

Icelandic bitcoin mine

Bitcoin is going nuclear

The digital currency is hitting all-time highs, with a single coin going for more than $2,197. It’s an epic bull run that has accelerated in recent months: Just a year ago, it was sitting at just $443. This is great news for bitcoin miners, the people responsible for creating new bitcoins. Their mining infrastructure is the backbone of bitcoin. Anyone who contributes computing power to help process transactions on the network is rewarded with the chance to “mine” bitcoin.

In plain English, in return for helping keep the network up and running, they have the chance of being given a newly created piece of the digital currency. This payout makes the entire process — with the right equipment — incredibly lucrative. It has helped spawned a huge and surreal industry.

You can mine at home, and many people do. But companies dedicated to mining have also sprung up, some worth tens of millions of dollars. These companies build huge data centres, or mines, that consume vast amounts of power and perform insane computations on the hunt for digital gold.

http://www.businessinsider.com…  Thu.,  25  May 2017

Europe is speeding up

Euro-area GDP growth outpaces America’s

The appeal of GDP is that it offers, or seems to, a summary statistic of how well an economy is doing. On that basis, the euro-area economy is in fine fettle; indeed, it is improving at a faster rate than America’s. Figures released on May 3rd show that GDP in the currency zone rose by 0.5% in the first quarter of 2017, an annualised rate of around 2%. That is quite a bit faster than the annualised 0.7% rate reported for America’s GDP.

http://www.economist.com…  Wed.,  10  May 2017

Trump promises massive tax cut

Trump under fire over ‘huge tax cut for the rich’

The Trump administration unveiled what it called the biggest tax cuts “in history” on Wednesday, in a move that will simplify the US tax system, slash taxes for businesses large and small – including Trump’s own – eliminate inheritance taxes and set the president on a collision course with Congress over the likely $2tn-plus cost of the proposal. Critics immediately called it “basically a huge tax cut for the rich”.

The plan would cut the US’s individual income tax brackets from seven to three (10%, 25% and 35%) and slash US corporate tax rates from 35% to 15%. “We have a once-in-a-generation opportunity to do something really big,” said Gary Cohn, chief economic adviser to Donald Trump. “This is about growing the economy, creating jobs.”

http://www.theguardian.com…  Fri.,  28 April 2017

White House: Trump will not immediately bolt NAFTA

Trump wants to renegociate NAFTA

President Donald Trump on Wednesday told the leaders of Mexico and Canada that he will not immediately pull out of the North American Free Trade Agreement, just hours after administration officials said he was considering a draft executive order to do just that.

The White House made the surprise announcement in a read-out of calls between Trump, Mexican President Enrique Pe?a Nieto and Canadian Prime Minister Justin Trudeau.

http://www.abcnews.go.com…  Thu.,  27 April 2017

EU chief Juncker warns against EU-US trade war

A trade war would neither be in Europe’s nor the USA’s interest

European Commission President Jean-Claude Juncker warned in a newspaper interview that a trade war between the United States and Europe would not be good for either.Asked by Bild am Sonntag newspaper whether Europe could withstand a trade war with the United States, Juncker said: “A trade war would neither be in Europe’s nor the USA’s interests.” He said it was necessary to take protectionist comments being made by U.S. President Donald Trump’s administration seriously and also to be prepared.

http://www.reuters.com…  Mon,  20 March 2017

US trade deficit: China is the real winner

How America has lost manufacturing jobs

President Donald Trump spent much of his election campaign attacking Mexico and China for, in his words, “killing us on trade” because of “bad trade deals.” As president, however, Trump’s harsh tone with Mexico has persisted while he has mostly backed off the stronger China rhetoric — even though China had a much larger impact on the manufacturing jobs the president has said he wants to “bring back” to the US.

http://www.businessinsider.com…  Tue,  07 March 2017

Currency war

Trump Calls Chinese ‘Grand Champions’ of Currency Manipulation

President Donald Trump declared China the “grand champions” of currency manipulation on Thursday, just hours after his new Treasury secretary pledged a more methodical approach to analyzing Beijing’s foreign exchange practices. In an exclusive interview with Reuters, Trump said he has not “held back” in his assessment that China manipulates its yuan currency, despite not acting on a campaign promise to declare it a currency manipulator on his first day in office.

Well they, I think they’re grand champions at manipulation of currency. So I haven’t held back,” Trump said. “We’ll see what happens.

http://www.usnews.com…  Fri.,  24 February 2017