Gold, Bitcoin & the US Dollar amid a Global Economic Slowdown
The speculation about the Swiss National Bank (SNB) knowing something when they de-pegged the Swiss Franc from the Euro proved true today as the European Central Bank (ECB) launched its own QE today in the form of a 1 trillion euro government bond buying program - approximately 60 billion per month, which is more than the 50 billion people were conjecturing. This program will start in March 2015 and go through September 2016. This is the ECB’s latest attempt to battle deflation and try to reflate the Eurozone. On the heels of this news, the Euro sank to 1.14, gold touched US$1,300 for the....
Related News
Bitcoin was back in the red during Friday’s session, as the token was once again trading below $19,000. The recent decline comes as the global economic slowdown has become more apparent. This week, both the Bank of England and United States Federal Reserve have moved to increase interest rates, with the Bank of Japan also intervening in the currency market. Ethereum was also lower on Friday, falling below $1,300. Bitcoin Bitcoin (BTC) fell back below $19,000 on Friday, as financial markets continued their sell-off, while the global economy continued to slow down. BTC/USD was moving....
We all know that the US dollar has been the global reserve for a while now, but not for long. The current economic situation looks bad for the dollar, all thanks to one-sided monopolistic and hypocritical foreign and economic policies. Thanks to the growing influence of China and Russia on the as they build their gold reserves and encourage foreign trade with domestic currencies. Chinese Yuan is a strong contender to replace the dying dollar. Russian Ruble staying right behind. United States brought this upon itself by playing hardball with the countries that refused to play along with it.....
Market turmoil has intensified in February, and many analysts are predicting that the Fed may make a U-turn on their rates hike decision. In the flight to safety, Gold has extended its rally while Bitcoin looks to be going to ground. This week’s edition of Global Economic Outlook looks at the gold, bitcoin and US dollar charts. Gold has been in a long-term bear market since 2011 when it struck a top just below $2,000/oz. An advance from its December 2015 low, was cynically regarded as just another upward correction prior to additional decline, but surprisingly gold just kept going. Bitcoin....
Meta joined Alphabet and Microsoft in releasing disappointing quarterly financials, following the company’s Q2 earnings call. In a week of a disappointment for mega-cap stocks, the trio has all missed revenue and earnings expectations, with Meta seeing its first quarterly sales decline ever recorded.
Economic Slowdown
Due to the current global economic slowdown, markets had anticipated that earnings of mega-cap stocks which account for 40% of the Nasdaq, and 30% of the S&P 500 could face a bloodbath.
However, although earnings have disappointed, and came in....
The improving Chinese economy may still turn out to be a good thing for Bitcoin. China is on everybody’s lips lately. Be it electronics and consumer goods companies, economists or politicians, they all have their reasons to keep a close watch on the Asian economic powerhouse. Projected to be the next big global superpower alongside its neighbor India, the country is currently going through slight turbulence. Any developments in the Chinese economic situation is expected to have a widespread effect on a global scale. The slowdown experienced by the country in the past couple of years has....