Others Stock

[OTHERS] ECB's Makuch says he may consider leaving his post early

European Central Bank policymaker Jozef Makuch may consider stepping down as head of Slovakia's central bank early to allow parliament to appoint a successor before what are expected to be highly divisive elections in spring 2020, he said.
That would avoid the prospect of political wranglings leading to his post being left vacant for an extended period, as has happened in Slovenia, which has been unable to pick a new governor since March.

Makuch, whose term ends in 2021, told reporters he considers finance minister Peter Kazimir as a suitable replacement.
"The next government will likely be made of several parties with a different world view," Makuch said, addressing rumors in the Slovak press that he is preparing for an early departure. "That could lead to political instability and early elections."
Bitcoin and other cryptocurrency prices fell on Tuesday, with Ethereum and Litecoin down more than 11%. Ripple hinted that its cryptocurrency product xRapid would go live “in the next month or so.”
Bitcoin traded 3.6% lower to $6,249.9 at 12:20AM ET (04:20 GMT) on the  Bitifinex  exchange. 
Ethereum  plunged  11.5% to $196.13 in the previous 24 hours.  
XRP also slid 3.1% to $0.27244 on the  Poloniex exchange, while  Lite coin  slumped 11.7% at $50.816. 
In other news, platform exchange Coinbase is planning to hire 130 employees in its New York office by the end of next year, bringing the total staff to 150. The move is part of the companies plan to target institutional investors
When we saw the market begin to correct, which we all expected, institutions didn’t lose interest. It was exactly the opposite. They look at it as an opportunity to enter when things are not too frothy
The U.S. dollar slipped, while the Japanese yen hovered near a two-month low on Wednesday as investors digested the latest trade news.
The US Dollar Index, which tracks the greenback against a basket of other currencies, was down 0.07% at 94.16 by 12:26AM ET (04:26 GMT).
The dollar slipped after Beijing announced on Tuesday retaliatory tariffs that targeted more than 5,000 U.S. products worth $60 billion. The new tariffs would take effect on Sep 24, China’s Ministry of Finance said in a statement. The country’s commerce ministry also filed a complaint to the World Trade Organization (WTO) against the U.S., according to reports.
All of the major currencies traded sharply higher Thursday on the back of strong gains in U.S. equities. Risk appetite has been healthy throughout the week but investor optimism carried the S&P 500 and Dow Jones Industrial Average to record highs. These moves also drove EUR/USD, GBP/USD and USD/JPY to 2-month highs. While a stronger-than-expected Philadelphia manufacturing index and lower jobless claims reports contributed to the rally, trade relief is the main reason why investor sentiment is so strong. The trade war hasn’t disappeared but aside from limited retaliation by China, tensions did not escalate further this week. The economy is strong and earnings have been great and there’s a good chance that the Federal Reserve will give the market a break after raising interest rates next week. Investors also feel confident that its just a matter of time before NAFTA and Brexit deals are reached. USD/JPY hit 112.50 and we think the rally could extend to 113 before next week’s FOMC rate decision.
Dollar Unchanged Ahead of Fed Meeting, New Zealand Dollar Jumps

The U.S. Dollar was unchanged on Wednesday as markets awaited the conclusion of the Federal Reserve’s latest meeting, while the New Zealand Dollar jumped against the dollar on a better-than-expected business confidence report.

The Fed is widely expected to hike interest rates later in the day. Markets also anticipate another rate hike before the year end, although the outlook for 2019 is less clear, according to analysts.

As well as an interest rate decision, the Federal Reserve will also serve up its summary of economic projections, outlining policymakers' expectations on economic growth, inflation and unemployment.

The U.S. dollar index, which tracks the greenback against a basket of other currencies, was unchanged at 93.73 by 11:01PM ET (03:01 GMT). The index has slipped around 3% since August.
Global trade tension remained in focus as China’s Vice Commerce Minister Wang Shouwen said Beijing would resume trade talks only if the U.S. show sincerity and not put a knife at China’s throat.

Wang then added that the two sides were set to have four rounds of talks but the U.S. went back on what they had agreed.

In the trade dispute, China and the United States have made no real progress on having direct negotiations.
Meanwhile, the New Zealand dollar rose on Wednesday as September’s business confidence index from the Australia and New Zealand Banking Group came in at -38.3, compared to the ten-year low of -50.3 in August. The NZD/USD pair last traded at 0.6675, up 0.5%. The AUD/USD pair also gained 0.3% to 0.7275.

Elsewhere, the USD/JPY pair slipped 0.05% to 112.91. U.S. President Donald Trump and Japanese Prime Minister Shinzo Abe are due to meet later today to discuss the promotion of a bilateral trade following a round of trade negotiations.

The GBP/USD is trading back into the 1.3000 major technical level as the US Dollar downshifts in early Wednesday action, fueled by risk-bullish headlines from the European continent.

Brexit headlines continue to dominate Sterling traders' headspace, and a steady stream of inconclusive talking heads brandishing their positions on Brexit has seen confidence in the UK continue to wane steadily as glimmers of hope for successful trade talks between the EU and the UK give way to bouts of hard selling as Britain seems no closer to a workable exit from the European Union than it did immediately following the Brexit referendum.
The Italian government announced they would be willing to reduce their federal deficit to back below 2% in 2021, and the broader Euro-area saw a brief bounce in market sentiment, taking both the EUR and the GBP briefly higher, and the Pound is now trading just shy of the 1.3000 handle.

The economic calendar is clear of any meaningful UK data for Wednesday, and traders will be keeping an eye out for continued headlines covering both Brexit and political tensions within the Eurozone, and early Wednesday's pop in the Sterling could find itself getting faded as the day unfolds.
The Pound could be primed for another leg down as technical indicators have reloaded their neutral stances, and as we noted: "technical indicators have corrected oversold readings before losing directional strength within negative readings, while the 20 SMA is currently crossing below the 200 EMA, reflecting the strength of sellers. Of course, the pair is little about technical readings and all about Brexit, with the pair's direction depending on which kind of Brexit the market believes it will take place."

Support levels: 1.2970 1.2940 1.2900

Resistance levels: 1.3010 1.3035 1.3065
Quotes are delayed at least 15 minutes. Stock charts are updated at the end of the trading day. All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Tradesignum is not liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Tradesignum website, you agree not to redistribute the information found herein.