1. Binance Crisis
The Giant Binance is facing massive withdrawal from traders, it is reported $503M outflow so far this week, this may affect the rise of the major coins Bitcoin, Ethereum, Ripple. According to the lawsuit filed by the SEC, Binance, which holds the title of the world’s largest cryptocurrency exchange based on trading volume, has been accused of violating multiple federal securities laws. As a result, there have been significant outflows from the platform. The lawsuit specifically alleges that Binance offered unregistered cryptocurrency securities.
2. Alibaba
Shares rose 2.79% after the e-commerce icon split its company into six separate business groups. Each will have the potential to raise outside funding and go public. Financial analysts are predicted the stock value to double by the end of the year. Buy and Hold traders are positioning themselves on the markets.
3. WTI Oil is climbing
The crude Oil Price is rising and has reached $72 per barrel from $67 in less than 2 week. Economists advise that demand may rise now because the price is trading at a discount compared to previous months. Investors will specifically be cautious of the $75 level, which has recently caused a collapse in demand.
4. US Dollar continues to take profits
The US Dollar has gained points for 4 consecutive weeks against the Japanese Yen, is shows one of the steadiest and clearest uptrends experienced in the currency market this month. This has largely been due to the liquidity control in US Banks after the last FED decision to skip the interest Hike this month, and the Japanese Yen’s “safe haven status”.
5. GF Markets is introducing CFD on Stocks on its PRO Platform and here are a few tips on what causes the Stocks prices to change
– The Profits that a company make affects its stock value. Earnings create trust sentiment around any company’s market value.
– The power of supply vs demand, the more investors are buying a stock, the more likely its price will increase.
– The company’s reputation. It is directly correlated with the number of customer that the company attracts so also explaining the company’s profit.
Stay updated with these market trends and leverage this information to make informed trading decisions. If you have any questions or require further assistance, feel free to reach out to our dedicated support team. Happy trading!
