US dollar mainly firm, market remains focused on US-China conflict

Posted 05 November, 2018

The US dollar starts the week at generally stable positions vs the majors benefiting from positive labour market report released last Friday.

The US Dollar index stays at 96.34 for now.

The US dollar-to-yen rate rose to 113.25. Euro also weakened vs the greenback – the rate was recorded at $1.1374.

Meanwhile, the sterling posted some gains overnight moving up to 1.3031, though for now, the British currency stays at 1.3013 in the pair with the dollar. The observed fluctuations are said to be related to some optimism around the Brexit deal as well as a possible faster increase of the interest rate by BOE if the UK wins deal-based Brexit.

In the USA, the released labour market report showed that the number of new jobs soared over the past month, with the earnings upturn being among the highest over many years. This means that the US labour market is drifting upwards, making new rate increase by the US Fed more real this December. The US Federal Reserve will hold a regular meeting this week and the interest rate is likely to stay unmoved this time given an anticipated December lift.

For now, the players are focused on the US-China trade issue, especially once Donald Trump's economic advisor stated last week that the agreement that could solve the trade conflict between the countries is unlikely to be signed so far. As the released data showed, service PMI in China decreased which fueled fears of economic slowdown in the country.

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05 November, 2018 14:38

← Turkish police arrest group of crypto hackers

Monday, November 5, 11 suspects in bitcoin theft have been arrested in Turkey. Turkish law enforcement bodies arrested a group of 11 people suspected in illegal possession of more than $80,000 in terms of bitcoin. These actions were based on the previous requests by 14 people saying that their wallets had been hacked. The total loss amounts to TRY 437,000. The police think that the hackers have already transferred money to many accounts to puzzle tracking and exchange into fiats later. One out of 11 suspects that were arrested was released with court supervision, while  the rest of the group remains under arrest.

Turkish police arrest group of crypto hackers

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05 November, 2018 12:20

Crypto aidrops can face ban in China →

The Chinese Central Bank is considering the possible restriction of airdrop activities in the crypto segment of the country. The People's Bank of China released last Friday the financial stability report for 2018 in which the regulator cited that airdrops are used as hidden ICO as a way to avoid the existing limits in the country.

Crypto aidrops can face ban in China
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