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Forex trading. Cryptocurrency forecast for today, September 14, 2021

Forex trading. Cryptocurrency forecast for today, September 14, 2021

Bitcoin declined to the level of $44550. Ethereum fell to the level of $3,200, and XRP - to $1.06. The total capitalization of the digital currency market was $2.03 trillion.

The Alonzo update was activated in the Cardano project, which for the first time allowed the deployment of Plutus smart contracts in the main network. The Alonzo update will bring long-awaited opportunities due to the integration of scripts into the blockchain. This will allow implementing smart contracts on the network and for the first time using many new scenarios for decentralized applications. At the same time, the developers noted that a lot of time will pass before the mass use of applications. They recalled that the Ethereum blockchain project launched in July 2015, the first application that gained real popularity among users, appeared only after more than two years. Against the background of a successful update, the price of the ADA token fell by more than 10%, from levels around 2.7 to 2.4 dollars. The largest financial holding company in Singapore, DBS Group, will continue to develop trading in crypto assets and plans to double the number of users of the Digital Exchange by the end of the year. The interest of institutional investors in crypto assets continues to grow, and this does not escape the attention of large financial organizations. DBS Digital Exchange is positioned as the only digital exchange in the world supported by banks, offering cryptocurrency trading, asset tokenization and custodial services. In June, DBS Bank issued digital bonds for 15 million Singapore dollars as part of the initial placement of tokens-shares through the Digital Exchange. According to the company's plans, by the end of 2022, at least six share tokens should appear in the exchange's listing, and the number of institutional investors on the site will double-up to 1000 clients. In the next three years, the number of users will grow by 20-30% annually.

The forecast expects a further decline in bitcoin to the levels of 44200, 44000 and 43000 dollars. Ethereum will decline to the levels of $ 3150, $ 3100 and $ 3000, and XRP will fall to the price values of $ 1.05, 1.03 and $ 1.

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Euro/Dollar: trading forecast for the week of September 20-26, 2021
Euro/Dollar: trading forecast for the week of September 20-26, 2021 At the end of last week, the euro / dollar exchange rate fell to the support level of 1.1725. The latest US macroeconomic data showed a slight slowdown in the growth rate of inflation in August, but it continues to remain at an elevated level by historical standards.Traders expect that the US regulator will sooner or later be forced to start reducing the asset purchase program. The specific plans of the regulator may become clear as early as next Wednesday, and until that time, market participants will probably prefer not to open large positions. In the Eurozone, consumer inflation rose by 1.6% in August, and this fully coincided with the preliminary estimate. ECB Governing Council member Olli Rehn said that economic growth in the Eurozone remains strong, but still requires support from the regulator. There is no question of raising rates yet. Inflation in the euro area has strengthened recently, but the temporary effects are expected to disappear in 2022. Price growth is likely to decline again to levels below 2% in the medium term.According to the ECB representatives, with the right monetary and fiscal policy, a fairly strong recovery due to demand should lead to a return of inflation to 2% in the medium term. According to Wells Fargo analysts, in the next six months, the dollar exchange rate is likely to grow by 5% rather than decrease by a similar amount. A hawkish surprise from the Fed is much more likely than a similar surprise from the European Central Bank. This means that an increase in the rate differential between the US and Europe, and with it a strengthening of the US dollar, is more likely than a decline in the coming months. This view is based on the assumption that monetary policy and short-term rate differences are the most important factors of the currency markets at present.A 5% or more decline in the dollar is likely to require either a soft surprise from the Fed or a hawkish surprise from the ECB. Wells Fargo sees an extremely small risk that the European regulator will adopt a strategy that will significantly change the expectations of a rate change over the next six months. The Fed may refuse to tighten monetary policy if the data on inflation or employment in the US are significantly worse than expected. However, short-term rates in the US are already almost zero, which means that there is probably more room for an increase than for a decrease. This point of view may be incorrect if the foreign exchange market focuses on any other driver besides monetary policy. But even in this case, Wells Fargo doubts that any of the other factors will be able to tilt the balance of risks towards a significant fall in the dollar, rather than growth.The forecast assumes a further decline in the euro/dollar exchange rate to the levels of 1.1700, 1.1680 and 1.1660.
Sep 20, 2021 Read
Market cap of the stablecoin market has exceeded $120 billion
Market cap of the stablecoin market has exceeded $120 billion The value of bitcoin has fallen to the level of $47,600. Ethereum declined to the level of $3,350, and XRP - to the price value of $ 1.07.The total capitalization of the digital currency market was $2.13 trillion.The total market capitalization of the stablecoin market has exceeded $120 billion. More than half of the offer is accounted for by the leader of the Tether segment. Messari analysts explained the rapid growth of the stable coins sector by the fact that they are the best means of storing and moving US dollars around the world. Stablecoins are used to move capital between exchanges, as collateral on crypto-derivative platforms, in applications of decentralized finance, as well as for cross-border payments. In the second quarter of 2020, the volume of transactions with these assets exceeded $1.7 trillion, and the value increased 14 times in 12 months. Analysts also noted that due to the above-mentioned properties of stable coins, more and more financial institutions in the US domestic market are transferring transactions to the blockchain. This step allows them to reduce the cost structure. Meanwhile, the Economic Affairs Committee of the House of Lords has begun studying the Central Bank's digital currencies. This is stated on the website of the UK Parliament. In April, the Bank of England and the Treasury created a joint working group to study the state stablecoin. The Committee will gather evidence on the main issues that the Treasury and the Bank face during their work. It will also consider how the currency can affect the role of the regulator, monetary policy and the financial sector. Earlier, the chief economist of the Bank of England, Andrew Haldane, suggested that the emergence of national digital currencies will reduce the risks of financial crises.In our forecast, we assume a decline in the price of bitcoin to the levels of 47300, 47000 and 46000 dollars. Ethereum will decline to the levels of 3300, 3250 and 3200, and XRP - to the price values of 1.05, 1.03 and 1 dollar.
Sep 20, 2021 Read
WTI crude oil fell slightly to $71.6
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Sep 20, 2021 Read
Insignificant rebound in the gold price
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British currency fell against the dollar to the support level
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Sep 20, 2021 Read
On Friday, euro/dollar currency pair lost more than 50 points
On Friday, euro/dollar currency pair lost more than 50 points EUR/USD fell to the level of 1.1725. The final data on consumer inflation in the Eurozone for August fully coincided with the preliminary ones. In annual terms, inflation increased by 3%. The base indicator strengthened by 1.6%. Inflation significantly exceeds the European Central Bank's target of 2%, but the regulator does not plan to tighten its monetary policy, considering the price increase a temporary phenomenon. After falling to the lowest level since 2011 in August, the indicator of consumer sentiment in the United States in early September improved moderately from 70.3 to 71 points. Analysts conclude from this that consumers are still pessimistic about the current situation. Despite the small increase, the rate is still lower than at any point during the pandemic. This remains a worrying indicator for the consumer outlook. Such a mood indicates weak spending. Retail sales in August were higher than expected, but the data mainly relate to the commodity sector and are not adjusted for price changes. Households maintain a stable financial position, taking into account the accumulated savings over the past year, but the rapid increase in consumer prices and the increase in the number of cases associated with the coronavirus will have a negative impact on spending in the short term.The forecast expects a further decline in the euro/dollar exchange rate to the levels of 1.1700, 1.1680 and 1.1660.
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Sep 20, 2021 Read
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Sep 17, 2021 Read
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