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Forex market reviews

20 October 2017

Media reviews

Tina Pham

Trump tax cuts gain momentum as Rand Paul goes 'all in' (news: 20/10/17)

WASHINGTON (Reuters) - U.S. Republican senator Rand Paul on Friday appeared to back the Trump administration’s sweeping tax cut plan, saying he was “all in” for massive tax cuts even as the Senate passed a key budget measure without his support one day earlier.
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Market sessions

Gabriel Ojimadu

EURUSD: news from the US sinks buyers

On Thursday the 19th of October, trading on the euro/dollar pair closed up. The British pound was not so fortunate. The main reason for the euro’s rise on the crosses was the news from Spain. Mariano Rajoy, the Prime Minister of Spain, announced his government’s intention to impose direct rule on Catalonia after the region’s president, Carles Puigdemont, refused to rule out an official declaration of independence.
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19 October 2017

Media reviews

Tina Pham

Spain to impose direct rule on Catalonia as deadline passes (news: 19/10/17)

The Spanish government is to suspend Catalonia’s autonomy and impose direct rule after the region’s president refused to abandon the push for independence that has led to Spain’s biggest political crisis for 40 years.
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Market sessions

Tomasz Wisniewski

Daily analytical report (19/10/17)

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EURUSD, AUDNZD, AUDUSD
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Cryptocurrencies

Veselin Petkov

How stable is bitcoin’s current price growth?

There have been some very interesting developments on the crypto market as of late. On the 15th of October, bitcoin’s price rose to 5,950 USD on the Bitfinex exchange, which brought the currency’s market cap up to just shy of 100bn USD (according to coinmarketcap). This marks a new all-time high for bitcoin and is 24% higher than the record set on the 2nd of September, when the flagship digital currency’s market cap was at 81bn USD.
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Cryptocurrencies

Veselin Petkov

Bitcoin mining is becoming very energy-consuming

Bitcoin transactions require so much energy that the electricity used for just one trade is sometimes enough to power a private household for nearly a month. This is according to economic research carried out by financial services company ING Group. The research was carried out by Teunis Brosens, a senior economist at ING; a financial conglomerate with nearly 1 trillion USD under management.
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Market sessions

Gabriel Ojimadu

EURUSD: rate expected to fall by the end of the day

On Wednesday the 18th of October, trading on the euro/dollar pair closed up. After hitting a new weekly low, the price mounted a recovery to 1.1817 that extended into the Asian session. I can’t see any fundamental factors that would have caused the euro’s 87-pip rally. I reckon the price underwent a correction on the longer timeframes.
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Alexander Razuvaev
Alexander Razuvaev

Director of Alpari's analytical department

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Vadim Iossub
Vadim Iossub

Senior Alpari analyst

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