Archive

Ex-Paypal CEO Calls Bitcoin a ‘Cult’, While Altcoins Sink

The bearish cryptocurrency market continues to worry investors, but surprisingly Bitcoin has managed to hold above the crucial $6,000 level. The cryptocurrency touched around 5830 yesterday, but strong buying support successfully brought the coin back up, keeping it’s head above

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Weak Employment Data Turns Against the Aussie Dollar

  Yesterday, the Australian Bureau of Statistics announced a 0.6% rise in the Wage Price Index in the June quarter, from the earlier quarter on a seasonally adjusted basis. The actual increase met analysts’ expectations and surpassed the previous quarter’s 0.5% rate of increase. However, poor employment change data and a

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McDonalds Announces $6 Billion Modernisation Program

  Fast food chain McDonald’s Corp. (NYSE: MCD) and its franchisees are planning to spend $6 billion to revamp most of its 14,000 restaurants in the US and Commonwealth, by the year 2020. The announcement represents the company’s biggest facelift

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Euro Remains Weak Despite Solid Flash GDP Data

  The euro dollar (EURUSD) has been struggling recently due to the ECB’s dovish rate hike outlook. Additionally, fear of a domino-effect from the ongoing crisis with the Turkish lira, has given traders another chance to add up to their short

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The Leading Cryptocurrency Stories for 14th August 2018

The cryptocurrency market has turned weak once again, after Bitcoin (BTC) fell below the crucial psychological level of $6,000. The probability of Bitcoin going below $5000 is now very high. However, the blockchain market continues to advance with innovation across

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Turkish Central Bank Relaxes Rules to Halt Lira’s Fall

  Turkish lira hit a low of 7.24 yesterday before perking up to a level of 6.8480 at the time of writing this article. Its recovery was triggered by a series of announcements made by the country’s central bank to

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Turkish Lira Crumbles As US Beefs Up Anti-dumping Measure

  Last Friday, President Donald Trump once again caused jitters in the financial market by hitting Turkey hard with a decision to double metals tariffs. It is the latest action against the NATO partner, which began with contradictions over defence

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SEC Scrutinizes Public Messages Of Tesla’s CEO Elon Musk

  The stock of electric car maker Tesla, Inc. (Nasdaq: TSLA) surged 11%  to $379.57 last Tuesday after CEO Elon Musk said he was looking at the option of taking the company private at a price of $420 per share. This

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Intel Launches Densest Solid State Drive, Plans 10nm Chip

  Semiconductor chip manufacturer Intel Corporation (NASDAQ: INTC) has been on a decline due to rising competition from AMD. The stock was also downgraded by Barclays earlier this week, citing similar concerns. However, Intel is gearing up for the competition

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Australian Dollar Strengthens on Iron Ore Rally

  The Australian dollar declined against the yen earlier this week on concerns over trade war between the US and China. As China is the largest trading partner of Australia, the Aussie turned weak. On the contrary, uncertainty bolstered the

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