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AUD/USD plummets to fresh four-month lows below 0.6400
The US Dollar strengthened ahead of the weekly close on the back of mixed data. The Reserve Bank of Australia will announce its decision on monetary policy next week. AUD/USD fell to its lowest since August, maintaining the bearish pressure. The US Dollar (USD) soared in the last trading session of the week, with the AUD/USD pair falling towards 0.6380, a level last seen in August. Without data releases in Australia, the market focused on the United States (US) macroeconomic developments. Mixed employment figures initially weighed on the USD, but a better-than-anticipated preliminary estimate of the US Consumer Sentiment Index...
Holiday-Shortened Week; Bitcoin Flirting With $100K
bitcoin flirts with $100K. (Photo Illustration by Justin Sullivan/Getty Images) Getty Images Key Takeaways Small Caps Surge 5%, Leading Broad Market Gains Last Week Earnings Forecast Up 5.8%, With Forward P/E Ratio High Light Trading Week Ahead With Key Data And Earnings Reports Stocks posted strong gains last week with small cap stocks again leading the way. The Russell 2000 jumped nearly 5%. That was followed by a 2% gain in the Dow Jones Industrial Average. The Nasdaq Composite was up 1.7% while the S&P 500 posted a 1.5% increase. Earnings season is quickly winding down. Based on a combination...
Putin says no one can ban Bitcoin and digital assets
Russian legislation embraces digital currencies, exempting crypto mining and sales from value-added tax. Key Takeaways Vladimir Putin stated that no one can successfully impose a ban on Bitcoin or digital currencies. Russia recognizes digital currencies as property in foreign trade settlements under a new legal regime. Russian President Vladimir Putin stated that new technologies like Bitcoin and digital currencies cannot be effectively banned and will continue to evolve and grow in popularity. “We see processes with the use of other instruments. For instance, Bitcoin. Who can prohibit the use of it? No one,” said Putin, speaking during a keynote speech...
