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Facebook has finally launched its highly-anticipated crypto project called Libra. There are three reasons why FB’s entry into blockchain technology may boost existing digital assets. Bitcoin, Ethereum, and Ripple will likely see different behaviors. Facebook has finally leaped into Libra – its cryptocurrency project which has been rumored for a long time. The social media behemoth [...]

The post Three reasons cryptos may benefit from Facebook’s Libra project appeared first on Forex Crunch.

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Maire requests the G7 central banks to understand the scope of Facebook’s Libra cryptocurrency. Facebook stablecoin must not be “diverted to finance terrorism or any other illegal activity”. On the very day Facebook releases its much talked about stablecoin white paper, government officials are starting to feel threatened by the French Minister for Finance Bruno Le [...]

The post French Minister Bruno Le Maire is asking Facebook “for some guarantees,” regarding Libra appeared first on Forex Crunch.

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The European single currency weakened since 2019 started as both geopolitical tensions between the US and China, and tensions rising between countries from the Euro Zone forced investors to look for safety in the US dollar. With a Federal Reserve that managed to raise rates until December 2018 (giving room when the next economic downturn [...]

The post EURUSD Squeezed Towards Key Support Zone appeared first on Forex Crunch.

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EUR/USD has been falling in reaction to Draghi’s dovish speech. The focus will later shift from the ECB to the Fed ahead of its critical meeting. Tuesday’s four-hour chart shows there is more room for falls. Super Mario has not lost his magic – at least for EUR/USD bears. European Central President Mario Draghi has said that [...]

The post Draghi drags EUR/USD down – next levels appeared first on Forex Crunch.

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GBP/USD has been struggling to recover after falling to the lowest in five months. The second round of the Conservative Party’s leadership contest is the main event today. Tuesday’s four-hour chart shows oversold conditions, implying a temporary bounce. The second round of “Who wants to be Prime Minister” awaits pound traders with Boris Johnson the [...]

The post GBP/USD await’s Boris Johnson’s second victory with fear appeared first on Forex Crunch.

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GBP/USD has been struggling to recover and trades close to the four-month lows. Boris Johnson’s shadow and Fed tensions dominate markets. Monday’s four-hour chart points to oversold conditions for Sterling. Boris Johnson has been avoiding the spotlight but his presence is felt nonetheless. The leading candidate to lead the Conservative Party and the country has [...]

The post GBP/USD looks vulnerable too close to the edge appeared first on Forex Crunch.

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Trump has said that it does not matter if he meets his Chinese counterpart Xi at the G20. The president’s about-turn came after around 640 retailers led by Walmart warned about tariffs’ economic damage. A defusion of trade tensions may push stocks higher and the USD lower. US President Donald Trump has said on Friday [...]

The post Trump looking weak against Wal-mart appeared first on Forex Crunch.

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EUR/USD has been struggling to recover after upbeat US retail sales sent it down. ECB officials’ concerns have also added to downside pressures.  Monday’s four-hour chart portrays oversold conditions that may result in a bounce. EUR/USD has been trying to lick its wounds and recover from two blows – so far with little success – and [...]

The post EUR/USD pressured on both sides but entering oversold conditions appeared first on Forex Crunch.

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The Reserve Bank of Australia has pledged to cut interest rates if the unemployment rate rises. But when exactly will it happen? The timing impacts AUD/USD. Here is their view, courtesy of eFXdata: NAB Research discusses its latest change for the RBA cash rate call which now sees the central bank cutting to 0.75% in November. [...]

The post AUD: Change RBA Rate Call – RBA To Cut In July Or August And Again In November – NAB appeared first on Forex Crunch.

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EUR/USD continues to show volatility. The pair reversed directions last week, falling 1.1%. It’s a busy week in the eurozone. Germany releases ZEW Economic Sentiment and the eurozone and Germany post manufacturing PMIs. As well, ECB President Mario Draghi speaks at the ECB forum in Portugal. Here is an outlook at the highlights and an [...]

The post EUR/USD Forecast June 17-21 – Will Mario Draghi pop any surprises in Portugal? appeared first on Forex Crunch.

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