Lari has been acting rather sickly over the recent years. According to the Georgian financial website Kapitali.ge the depreciation of the country’s main currency is now among the major problems Georgia is facing right now. Some of the main impacts of Lari inflation are increased import values, heavier credit pressure on the population, as well as the country, etc. And even though some economics experts would suggest that the Lari inflation is actually beneficial to the amount of money received from exports, tourism, and foreign remittances, for a country like Georgia, which is heavily depended on imports, increased prices hit the population the most.
EUR/USD has been looking for a new direction. Where will it go? Here is their view, courtesy of eFXdata: UOB Research discusses the EUR/USD technical outlook and adopts a neutral bias in the near-term. “EUR/USD is expected to trade sideways for now. We highlighted the “quick loss in downward momentum” yesterday (02 Oct, spot at […] The post EUR/USD: In Consolidation Phase For Next Couple Of Weeks; Sideways Between 1.0890 and 1.1025 – UOB appeared first on Forex Crunch.
‘With the economic hostilities between the US and China clearly having an impact on the global economy – just check out the week’s wave of painful PMIs – the WTO clearing the runway for an aggressive escalation on another front in Trump’s trade war is exactly the opposite of what investors wanted to hear.
If fiat currency is historically ultimately an inevitable fraud, cryptocurrencies are the potential fraud of frauds. They can’t even claim that the excessive input cost of electricity gives them value; that electricity is gone forever. The other problem is that cryptos are just a derivative of ‘money’, they are not money, except in limited acceptance. It is necessary to convert to, say, dollars then (hopefully) acquire the dollars by paying further transaction costs. I say hopefully because historical experience tells us that actual redemption can take days or weeks or … never. The defense of Bitcoin itself is, scarcity, that it is limited to 21 million circulation. But in fact when it is divided into its maximum granularity, there are 2.1 quadrillion satoshis in 21 million bitcoins, i.e. 100 million to the bitcoin. If a satoshi is worth one cent, then one bitcoin would be worth 1 million dollars, just like John said! As for the anarchist community (meaning i.e. the exchanges?) having control, first I can’t imagine them honoring any redemption if they didn’t feel like it, secondly what would they offer in redemption, and thirdly can anyone even identify the address of any of these exchanges, who aren’t even anarchists? For just one example, as of June 2019, the CURRENT given mailing address for Coinbase, one of the largest, is 548 Market st, SF. 548 Market St is the old World Class Mail store, with brown paper covering the windows, as it has since 2016. Actually, according to World Class, the mail drop was relocated to Beaverton, Oregon as of June 3, 2016. Maybe they still take mail in SF and reship it to Oregon, and offer to reship it or open and scan it and send it to the boxholder electronically. Other than that there’s no address for Coinbase. You can chat with Ada, the automated web bot, or you can phone them, wherever they are. The reviews regarding phone service are not good, mostly about redemptions. Depositing funds seems to be instantaneous after you offer every form of identification you possess along with a photo, withdrawing is often not so easy (!). If some form of exchanges are necessary to implement transaction of cryptos as a reserve currency, what are the odds of finding one you can have confidence in? As a transaction vehicle, just use a credit card, it’s 100 times faster and you even get points. And at least you have an address for them. Pay on time, and it’s ‘free’, except for the costs that the retailer (thus ultimately you) must bear. And the dollar will be around for some time to come, however debased it may become.
If you ask me, Elvis is a somewhat unlikely spectator, but nothing here is quite as you would expect. As the latest wave of swimmers leaves the pontoon to a roar from the crowd, five mermaids lower themselves into the water, their silvery green scales flashing in the sunlight. I rub my eyes for a moment to see whether they…
The simulator sub-genre has become something of a joke, and Bus Simulator seems to recognise that it’s part of the punchline. This cunningly self-aware public transport affair from StillAlive Studios straddles the line between silly and serious, blending arcade action with obsessive attention to detail. It plays a little bit like if you put Crazy Taxi , Cities Skylines , and Train Sim World all into a blender – but the resulting concoction is much more palatable than one of those fruit smoothies with carrot and ginger.
TorFX News is your definitive destination to read the latest news about the foreign exchange market. We specialise in reporting on all of the world’s major currencies including the British Pound, the Euro and the US Dollar with the aim of helping you to decide when to trade and get the best deal on your monetary transfers.
Despite a large gap higher when commodities markets opened on Sunday evening to very thin trading, most of the metals’ gains have come over the last several hours as safe-haven demand has returned to overall markets after last week’s more risk-seeking tone: concerns are rising (yet again) that there is no end to the US-China trade war in sight, the unrest in Hong Kong seems to be worsening , and the British Pound has weekend to its lowest levels since 2016 as the UK’s governing bodies have returned from summer break and promptly re-lit the Brexit dumpster fire; and that was all before 6am EDT. Since then we are seeing US equities down by as much as 1% for the day already, partly driven by the concerning report on manufacturing sector PMI that we’ll touch on below.
Volatility should be expected for clients converting GBP/USD. If Jeremy Corbyn takes over and some Conservative MPs are banished this is going to pave a way for another General election. History tells us a General election puts pressure on the currency due to the uncertainty it creates. However, in this specific example, the chances of crashing out short term will dissipate therefore the pound could actually strengthen. Over the last 3 years Brexit has had a major impact on sterling exchange rates and could be expected to continue this week.
For Plug Power to get to its goal of $1 billion in revenue by 2024, the Latham fuel cell manufacturer will need a lot more hydrogen — estimating it will use about 85 tons per day in the next five years, up from 20 tons per day today. CEO Andy Marsh has said much of Plug's growth will come from its sales of fuel cells for vehicles like forklifts and delivery trucks, but some could come from expanding Plug Power's hydrogen production and finding potential reoccurring revenue there. "When you look at growing into on-road vehicles for [electric vehicles], there's no reason Plug can't provide the hydrogen," Marsh said.