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Forex market reviews

19 October 2017

Media reviews

Tina Pham

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

Tomasz Wisniewski

Daily analytical report (19/10/17)

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EURUSD, AUDNZD, AUDUSD
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Cryptocurrencies

Veselin Petkov

## petkov name

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

## petkov name

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

## ojimadu name

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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18 October 2017

Media reviews

Tina Pham

Tina Pham

Dow opens above 23,000, powered by IBM (news: 18/10/17)

(Reuters) - The Dow Jones Industrial Average opened above 23,000 for the first time on Wednesday, powered by IBM, which hinted at a revival in its growth after six years in retreat.
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Market sessions

Tomasz Wisniewski

Tomasz Wisniewski

Daily analytical report (18/10/17)

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Talk of John Taylor becoming the next Chair of the Fed has boosted the US dollar. Aside from that, we'll be building on our ideas from yesterday on the EURJPY and USDCAD pairs.
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Cryptocurrencies

Veselin Petkov

## petkov name

Billionaire Michael Novogratz: Bitcoin and blockchain technology will turn the banking industry on its head

Former Wall Street mogul, billionaire, and bitcoin investor Michael Novogratz has said that bankers will ultimately lose the fight against cryptocurrencies and blockchain technology. In an interview with Bloomberg, he explained why a lot of bankers have recently been calling bitcoin a bubble. Novogratz claimed that the ongoing crypto-tide is one that’s going to wash over the banking industry sooner or later. Bankers, he says, understand this, and have started criticizing the crypto market amid fears over their industry’s future.
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Market sessions

Gabriel Ojimadu

## ojimadu name

EURUSD: today’s situation is 50/50

On Tuesday the 17th of October, the US dollar continued its growth against the majors. In the US session, the euro dropped to 1.1736. Market participants share the opinion that the dollar’s rise in the first half of the day was down to talk that John Taylor, an advocate of tight monetary policy, could become the next Chair of the US Federal Reserve. Donald Trump is expected to announce his choice for the post before the 3rd of November. With the support of some of the euro crosses, the daily candlestick on the euro/dollar instrument closed at 1.1766.
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