Binance wastes no time

04.09.2023

|

While regulators are smashing various crypto projects and exchanges to smithereens, the head of Binance, Changpeng Zhao, is promoting his company in the crypto world. Great move, what do you guys think? After successfully launching a branch in Japan, he believes that despite multiple regulatory scrutiny, his cryptocurrency exchange has proven to be reliable, maintaining a large user base and market share. He notes that all the news that was supposed to cause FUD sentiment about his company earlier actually gave a good boost and confidence in the stability and reliability of his platform.

Market reviews

Gold and Silver are rising again

The gold market is currently experiencing positive momentum, with prices trading in favorable territory on the daily chart. Despite being constrained by a five-month-old ascending channel’s upper boundary and the all-time high, the overall outlook remains bullish due to recent events.

YEN’s Growth Ambitions

The USDJPY currency pair experienced a significant decline following Federal Reserve Chair Jerome Powell’s dovish remarks last Friday. This downward trend continued into the morning of August 26, exacerbated by escalating geopolitical tensions between Israel and Hezbollah over the weekend. Analysts from Oversea-Chinese Banking Corporation (OCBC), Frances Cheung and Christopher Wong, have noted these developments.

Investing in Crypto: Key Catalysts

How Securities and Exchange Commission (SEC) Approvals and Political Endorsements are Shaping Investment Opportunities. The cryptocurrency market has experienced a significant boost this year, primarily due to the U.S. Securities and Exchange Commission’s approval of an exchange-traded fund (ETF) that tracks the spot prices of Bitcoin (BTC) and Ether (ETH). This development has sparked renewed interest and optimism among investors.

The Olympics in Paris gave a boost to the Euro

The euro-area economy experienced an unexpected surge in growth, largely attributed to the Paris Olympics. This event significantly boosted private-sector activity, marking the fastest growth pace in three months. Despite this positive development, underlying economic challenges persist, particularly in the manufacturing sector.

Investing Ahead of Fed Cuts

Wall Street is abuzz with speculation that Federal Reserve Chair Jerome Powell will announce upcoming interest-rate cuts at the central bank’s annual conference in Jackson Hole, Wyoming. This anticipation has significant implications for money managers who have recently invested heavily in Big Tech stocks, trying to keep up with the rising S&P 500 Index. Markets are fully expecting the Fed to begin reducing borrowing costs at its September meeting.

Entry Point – Aluminum

Trafigura says aluminum’s rally has reached its limit as supplies recover. Trafigura analyst Henry Wang notes increased supply and weak demand. He also notes declining manufacturing demand outside of China. “We’re seeing a very bleak demand picture right now,” Wang stressed at the CRU World Aluminum Conference in London. He noted that the price increase…

Gold continues to be bought

Yesterday at the American session, the investment bank Goldman Sachs, one of the largest in the United States, confirmed its forecast for gold, foreshadowing its possible rise to $2,700 per troy ounce by the end of 2024 with the potential to reach $3,130 amid increased demand from global central banks. China is particularly active in…

US INTEREST RATE 21:00 GMT+3

21:00 GMT+3 Interest rate in the USA. Fact 5.50%. Forecast 5.50%. 21:30 GMT+3 FOMC press conference. Today, traders and investors are waiting for statements from Jerome Powell, which could clarify the current situation with inflation and economic slowdown, as well as update the Fed’s monetary policy forecasts. The general consensus in the market is one…