International Economic
German business sentiment slumps in October - Ifo
German business sentiment slumped in October amid supply issues, according to a survey released on Monday by the Ifo Institute.
Bitcoin rebounds after a 10% correction
Bitcoin´s modest price correction this past weekend has taken the price of the most traded of digital currencies to levels below $60,000 for the first time in a week. Despite rebounding above $62,000 on Monday, on Sunday, October 24, it reached it´s lowest point since the 17th, at $59,643, which has lifted the downward move to 10% from October 20th´s all-time highs of $67,000. Analysts are now wondering if this is the end of the rally or simply healthy profit taking.
Citi sticks with 'short gold' as appropriate pain trade over medium-term
Analysts at Citi still think short gold is the appropriate 'pain trade' over the medium-term, despite "tangible" upside risks to their fourth quarter 2021 average spot price forecast of $1,700/oz.
US economic activity off to "encouraging" start in Q4 but no signs price pressures abating
Preliminary survey data revealed that the US economy got off to an "encouraging" start in the fourth quarter but price pressures showed no signs of abating.
Bitcoin and Ethereum decline as a slight profit-taking in cryptos takes place
The cryptocurrency market appears to be embarking on slight profit-taking on Friday, following a week of rallies that have pushed Bitcoin to new all-time highs. Meanwhile, Ethereum has surpassed its previous all-time milestone of May 12 by the narrowest of margins, according to data from 'CoinMarketCap'. The declines are around 3% for both, while Binance or Cardano leave behind similar pullbacks.
Euro area business activity hits six-month low, IHS Markit says
Economic activity in the single currency bloc got off to a slow start in the fourth quarter, amid increasing supply bottlenecks and ongoing Covid-19 worries, the results of a closely-followed survey revealed.
Weekly US jobless claims continue trending lower
US jobless claims continued moving lower last week and appeared set to continue doing so, economists said.
Philly Fed index drops more than expected in October
Manufacturing conditions in the Philadelphia region deteriorated a little more than expected in October, according to a survey released on Thursday.
ECB presses banks to relocate operations from UK - report
The European Central Bank is pushing lenders to add hundreds of extra employees and billions of additional capital to their operations in continental Europe after Brexit failed to spark a big shift, the Financial Times reported.
Bitcoin tops $67.000, buoyed by "buy the rumor and the fact" sentiment
Bitcoin reached new record highs on Wednesday, up to around $67,000, which is where an area of resistance resides according to the technical patterns projected by the Onyze team. Its founder, Alvaro Rubio, had already warned in statements to 'Bolsamania' that the price would run into this level in its ascent to $100,000. Experts 'blame' the debut of the ProShares 'crypto' US ETF on Wall Street. The consensus of all the analysts consulted points to an extension of the rally, despite a warning of a possible profit-taking move.
China Evergrande shares slump as $2.6bn asset sale collapses
Shares in real estate developer China Evergrande slumped in Hong Kong after the company said a potential sale of its property services unit had collapsed.
Eurozone inflation rises as expected in September
Eurozone inflation rose as expected in September, according to data released on Wednesday by Eurostat.
Analysts divided on Bitcoin after US ETF: $70,000, $100,000 or profit-taking
Bitcoin's meteoric rise to more than 40% in October, possibly leading to a record high in April, could lead to widespread profit-taking if the stock market maxim of "buy on the rumor, sell on the news" holds true. Bitcoin´s first US ETF debut represents a historical moment for the digital asset and the cryptocurrency market. In addition, market consensus points to this fact as one of the main causes for this month's rally. The big question now is whether investors will continue to stretch the price above $65,000 or whether they will take advantage of any small bump the ProShares fund experiences to dive for profit-taking.
US housing starts and permits not as weak as they look, economists say
Homebuilders in the US broke ground on fewer homes last month, although weakness was centred on the multi-family segment.
Eurozone construction output falls in August
Eurozone construction output softened in August, official data showed on Tuesday, bringing five months of growth to an end.
"Strong demand for Bitcoin's first ETF will drive the price to $70,000"
Bitcoin´s made history again. The cryptocurrency scored another milestone by achieving the first exchange-traded fund in the digital asset world, based on futures, to pass all the formalities of the US Securities and Exchange Commission (SEC). ProShares is the firm that won the day, culminating nearly a decade of attempts by the ETF industry to launch such an investment vehicle.
US industrial production falls sharply in September led by drop in auto output
US industrial production dropped unexpectedly last month, registering across-the-board declines by sectors.
Bitcoin nearing all-time highs, boosted by US ETFs
Bitcoin continued to extend its gains this weekend, after hitting six-month highs around $61,000 on Friday. The most traded of digital currencies is changing hands above $62,000 on Monday, boosted by investor optimism around the imminent approval of the Bitcoin exchange-traded fund based on futures contracts that, according to 'Bloomberg', the US Securities and Exchange Commission (SEC) will be approved "imminently", even as soon as this week.
China growth slows in Q3 amid supply chain issues, power shortages
China’s economic growth slowed sharply in the third quarter amid power shortages and supply chain issues, according to figures released on Monday by the National Bureau of Statistics.
Fire breaks out at Kuwait refinery; Supply not hit - KNPC
A fire has broken out on at the Mina al-Ahmadi oil refinery in Kuwait but operations and exports have not been affected, the Kuwait National Petroleum Company (KNPC) said on Monday.