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Analytical Forex forecast for EUR/USD, GBP/USD, AUD/USD and cryptocurrencies for Monday, March 11
AUD/USD, currency, EUR/USD, currency, GBP/USD, currency, Bitcoin/USD, cryptocurrency, Analytical Forex forecast for EUR/USD, GBP/USD, AUD/USD and cryptocurrencies for Monday, March 11 EUR/USD: pair expects new incentives for further movementThe EUR/USD currency pair shows uncertain dynamics, fluctuating around 1.0940. Trader activity remains moderate, in anticipation of new economic insights after recent data.Last Friday, investors carefully studied information about the reduction in annual growth in German industrial production in January to 5.5% and saw an improvement in the monthly indicator by 1.0%, which may indicate an early overcoming of economic stagnation. The producer price index in Germany showed a slight increase and a slowdown in the decrease at an annual level, ahead of forecasts, which complements positive expectations for the economy. Similarly, the announced eurozone GDP data for the fourth quarter confirmed stagnation and slight annual growth, fitting in with analysts' expectations.In the United States, a recent employment report in February indicated a marked excess of expectations for the number of jobs created, although average wages declined slightly, which may indicate a weakening of inflationary pressures. This, in turn, reinforces speculation about the imminent transition of the Federal Reserve System to a more lenient monetary policy, pushing the dollar lower in the face of a possible reduction in borrowing costs.Resistance levels: 1.0964, 1.1000, 1.1050, 1.1100.Support levels: 1.0930, 1.0900, 1.0866, 1.0838.GBP/USD: mixed data from the US labor market did not strengthen the dollarDuring the Asian session, the GBP/USD currency pair shows mixed activity, stabilizing around 1.2850. Investors are cautious in making new decisions, but the British pound retains the potential to strengthen against the background of positive economic data.A recent Halifax report indicated a decrease in the growth rate of house prices to 0.4% per month and to 1.7% per year, foreshadowing a possible improvement in the overall economic climate. Ahead of the upcoming announcement of labor market data, the unemployment rate is expected to remain at 3.8%, while the number of applications for unemployment benefits may increase and wage growth may decrease slightly. Special attention was drawn to the budget plan of Finance Minister Jeremy Hunt, which focuses on key economic indicators and anticipates that the Bank of England will be one of the last among the leading central banks to start lowering interest rates, postponing this decision possibly until August after the Fed and the ECB begin their adjustments in June.Resistance levels: 1.2890, 1.3000.Support levels: 1.2800, 1.2700.AUD/USD: Australian dollar is gaining momentum within the growing 0.6650–0.6550 corridorDuring the Asian trading period, the Australian dollar hovers around 0.6612, experiencing a correction after a sharp rise last week, stimulated by Australian economic reports.The data shows that exports increased by 1.6%, while imports fell from 4% to 1.3%, which contributed to the growth of the trade balance from 10.743 billion to 11.027 billion Australian dollars.The upcoming information on the state of the real estate market, scheduled for publication tomorrow at 02:30 GMT+2, will clarify the situation of one of the most lagging sectors of the country's economy: it is expected that the number of building permits will improve to -1.0% from the previous -10.1%, although the forecast for the construction of private houses suggests a decrease of -9.9% compared to -0.5% in the previous period. These expectations imply that the further dynamics of the currency instrument will depend on the behavior of the US dollar, which, after falling in the middle of last week, has now stabilized around 102.50 in the USDX index, despite the mixed data on Friday. At the same time, data on average hourly wages, which showed a decrease from 0.5% to 0.1% on a monthly basis and from 4.4% to 4.3% year-on-year, did not meet investors' expectations. At the same time, the number of jobs in the non—agricultural sector increased from 229,000 to 275,000, and in the private sector from 177,000 to 223,000.Resistance levels: 0.6630, 0.6690.Support levels: 0.6580, 0.6500.Cryptocurrency market analysisDuring recent trading, the BTC/USD pair has shown impressive growth, consolidating at a level exceeding 7000.00, and is currently hovering around historically high values around 71500.00. This rise allowed the currency to overcome the effects of the recent significant correction to the level of 59200.00. The rise of the cryptocurrency is due to both the upcoming halving in the Bitcoin network in April and possible changes in the monetary policy of the US Federal Reserve System.Bitcoin market activity is increasing in anticipation of halving, which, combined with the achievement of record price levels, stimulates increased demand for this cryptocurrency. Last week, as noted by Santiment, a decrease in the volume of large transactions over $ 100.0 thousand was recorded, while the number of market participants with relatively small investments continues to increase, reaching, according to Glassnode, a historical maximum of 35.0 million addresses.Resistance levels: 75000.00, 81250.00, 87500.00.Support levels: 61150.00, 56250.00, ...
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Analytical Forex forecast for NZD/USD, gold, cryptocurrencies and oil for Monday, February 19
NZD/USD, currency, Ethereum/USD, cryptocurrency, Bitcoin/USD, cryptocurrency, Brent Crude Oil, commodities, WTI Crude Oil, commodities, Gold, mineral, Analytical Forex forecast for NZD/USD, gold, cryptocurrencies and oil for Monday, February 19 NZD/USD: on the way to break through the 0.6160 markAfter the release of inspiring data on the state of the New Zealand economy, the NZD/USD currency pair is showing an uptrend, reaching 0.6150. The index of business activity in the service sector, which is compiled monthly by Business NZ based on surveys of managers of private sector enterprises, rose to 52.1 points in January, surpassing both initial forecasts and previous results, thereby indicating an increase in optimism among entrepreneurs. This phenomenon is also confirmed by the composite indicator, which reached the mark of 50.0 points, which is also higher than expectations and previous indicators.Market analysts are observing a stable uptrend, with key support near the 0.6050 level. During February, despite repeated attempts to break through this mark, the price headed up from 0.6050 to resistance at 0.6160. A breakthrough and steady consolidation above 0.6160 portend further growth with potential targets at 0.6205 and 0.6262 levels. If the opponents of growth maintain control over the 0.6160 mark, a decline to the key level of 0.6050 is possible, whose breakdown will indicate a change in the long-term downward trend.Resistance levels: 0.6160, 0.6205, 0.6262.Support levels: 0.6050, 0.5865.Gold price analysisGold is strengthening, continuing the trend that began in the middle of the previous week, when the value of the precious metal rebounded from the minimum values recorded on December 13. At the same time, the latest data from the United States, published on Friday, had little effect on its value, despite the fact that they provoked a revision of expectations about an imminent reduction in interest rates.The producer price index in the United States in January increased by 0.3% for the month and 0.9% for the year, exceeding analysts' expectations, which assumed an increase of 0.1% and 0.6%, respectively. Core inflation, excluding the cost of food and energy, also accelerated, showing an increase of 0.5% for the month and 2.0% for the year, which also turned out to be higher than forecasts. These data forced experts to reconsider their forecasts regarding the policy of the Federal Reserve System, now it is expected that the interest rate cut may be postponed until the summer. The probability of such a move in June is estimated at 69%, although some analysts do not rule out changes already at the May meeting.Resistance levels: 2030.00, 2039.21, 2050.00, 2065.00.Support levels: 2015.30, 2000.00, 1987.29, 1972.85.Cryptocurrency market analysisSince the beginning of February, Bitcoin has significantly strengthened its position, aiming to steadily gain a foothold above the $52,000 level, with current trading around $52,400.The rise in the value of bitcoin is supported not only by an increase in investments in bitcoin ETFs, but also by the anticipation of halving expected in April. Analysts record record inflows of funds into cryptocurrency funds: if in the first week of February the volume of investments amounted to $ 1.1 billion, then the next week it was already $ 2.2 billion. The average daily volume of investments in bitcoin-related ETFs remains at around $500 million, with a special preference for American investors who become more active during trading in their market. The expected halving further contributes to the increase in value, as miners become more cautious in selling mined coins, which leads to a decrease in their supply on the market. Reports show a decrease in sales from miners from 800 BTC at the end of last year to less than 300 BTC at the beginning of 2024, while interest from ETF issuers is growing, exceeding 12 thousand coins.Resistance levels: 53125.00, 56250.00.Support levels: 50000.00, 48437.50, 46875.00.Oil market analysisLast week, WTI crude oil prices peaked at $ 78.61 per barrel, but today showed a slight correction to $ 78.16, remaining relatively stable amid reduced activity due to the celebration of Presidents' Day in the United States.The risks of an escalation of the conflict in the Middle East continue to support oil prices. Analysts from the Institute of International Finance in Washington suggest that the forces of the pro-Iranian Hezbollah movement and Iran may join the conflict, which could lead to a slowdown in global GDP growth to 2.4% and a decrease in world trade to 1.6%. Tensions in the Red Sea region are also contributing to instability, especially after reports of an attack on a British oil tanker en route to India by the Yemeni Ansarullah movement. These events highlight maritime safety issues, forcing exporters to look for alternative shipping routes and thereby increasing the cost of transporting raw materials.Resistance levels: 78.61, 83.50.Support levels: 75.14, 72.11, ...
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Analytical Forex forecast for AUD/USD, gold, cryptocurrencies and oil for Monday, January 22
AUD/USD, currency, Ethereum/USD, cryptocurrency, Bitcoin/USD, cryptocurrency, Brent Crude Oil, commodities, WTI Crude Oil, commodities, Gold, mineral, Analytical Forex forecast for AUD/USD, gold, cryptocurrencies and oil for Monday, January 22 AUD/USD: the pace of corrective dynamics in the currency pair has decreasedThe AUD/USD currency pair shows uncertain trends, holding near the level of 0.6590, in anticipation of new economic incentives in the absence of significant macroeconomic data. Analysts noted that the People's Bank of China maintained its key interest rate at 3.45%, while the five-year rate affecting mortgages remained at 4.20%.In Australia, December data on business climate indices from the National Bank of Australia is expected to be published in the near future, as well as January business activity indicators in the service and manufacturing sectors from the Commonwealth Bank. In the United States, preliminary data on business activity in the manufacturing and services sectors from S&P Global are due to be published in January.In its economic report on Australia, the International Monetary Fund (IMF) predicts a return of inflation to the target range of 2.0–3.0% only by 2026, in contrast to the expectations of the Reserve Bank of Australia (RBA) for 2025. The RBA recommended a further increase in rates to effectively control the growth of consumer prices.Resistance levels: 0.6600, 0.6630, 0.6662, 0.6700.Support levels: 0.6543, 0.6500, 0.6450, 0.6400.Gold price analysisThe price of the precious metal is experiencing a slight decline in conditions of moderate market activity, fluctuating around the level of 2022.30 and moving away from the peak values of January 16 reached last week.Gold continues to receive limited support due to growing geopolitical tensions in Eastern Europe and the Middle East, where the United States and its allies are seeking to secure transport routes in the Red Sea. At the same time, pressure on gold prices is increasing due to lower expectations about the imminent easing of monetary policy by the world's largest central banks. The president of the Federal Reserve Bank of Chicago, Austan Goolsby, said on Friday that the US Federal Reserve needs convincing evidence of a steady decline in inflation to make a decision to cut rates. The latest macroeconomic data and comments from officials led to a decrease in the probability of an interest rate change in March to 53.0%, compared with the previously expected 70.0% in the previous week.Resistance levels: 2030.00, 2041.77, 2050.00, 2065.00.Support levels: 2015.30, 2000.00, 1987.29, 1972.85.Crude Oil market analysisWTI Crude Oil is below the resistance level of 74.50, reflecting the stabilization in the market.In light of the ongoing tensions in the Middle East, many tankers choose routes bypassing the Red Sea. A positive impetus for oil is also created by an increase in the expected demand for fuel this year. The revised forecasts of the International Energy Agency (IEA) suggest an increase in consumption by 1.24 million barrels per day, which is less than the increase anticipated by OPEC by 2.25 million barrels per day. A recent report from the Energy Information Administration of the U.S. Department of Energy (EIA) showed a decrease in oil reserves by 2.494 million barrels, exceeding forecasts of 0.313 million barrels. At the same time, gasoline inventories increased by 3.083 million barrels, and distillates — by 2.3760 million barrels.Resistance levels: 74.48, 79.16.Support levels: 68.27, 64.01.Cryptocurrency market analysisToday, the bitcoin price is experiencing a correction, approaching a medium-term uptrend and reaching a level of about 40650.00.The main factors influencing the decline in the value of the first cryptocurrency include the restrained reaction of institutional investors to the recent launch of bitcoin ETFs, as well as concerns about a possible delay in easing the monetary policy of the US Federal Reserve System until the second half of the year. Recall that the US Securities and Exchange Commission (SEC) recently approved 11 applications for the creation of new ETFs based on BTC, but the trading volumes of these instruments turned out to be less significant than expected. The inflow of funds slowed down: on Thursday it amounted to 4.5 billion dollars, on Friday — 3.1 billion, on Tuesday — 1.8 billion and on Wednesday — 1.5 billion dollars.Grayscale Investments CEO Michael Sonnenschnein opined that of the 11 new spot ETFs, only two or three will be able to attract new players to the market, while the rest are likely to be unsuccessful. Peter Schiff, president of Euro Pacific Capital Inc. and a well-known critic of cryptocurrencies, suggests that the value of digital assets will continue to fall after the initial demand subsides.Resistance levels: 43750.00, 46875.00, 48437.50.Support levels: 40625.00, 39100.00, ...
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Analytical Forex forecast for GBP/USD, Silver, cryptocurrencies and crude oil for Thursday, January 11
GBP/USD, currency, Ethereum/USD, cryptocurrency, Bitcoin/USD, cryptocurrency, Brent Crude Oil, commodities, WTI Crude Oil, commodities, Silver, mineral, Analytical Forex forecast for GBP/USD, Silver, cryptocurrencies and crude oil for Thursday, January 11 GBP/USD: strong prospects for continued growthThe GBP/USD trading instrument tends to grow within the framework of a stable medium-term upward trend, trading near the level of 1.2770.This rise is reinforced ahead of the announcement of important US inflation data for December, which may affect the next steps of the US Federal Reserve System. Forecasts indicate a possible increase in the consumer price index from 0.1% to 0.2% monthly and from 3.1% to 3.2% in annual terms. In the event of such an increase, the Fed may delay the interest rate cut, which will strengthen the dollar's position against other currencies. However, it is expected that any correction will be moderate, as the market continues to believe in a change in monetary policy: experts foresee three rate cuts during the year, and participants in the futures market for federal funds predict up to five decreases.Resistance levels: 1.2890, 1.2939.Support levels: 1.2573, 1.2451, 1.2329.Silver price AnalysisA correction is taking place in the precious metals market, more due to technical rather than fundamental reasons, as a result of which silver quotes stabilize at the level of 23.02.By the end of the year, investors in the global market are liquidating their positions to review the balance of their portfolios. According to the report of the Chicago Mercantile Exchange (CME Group), the volume of silver futures trading decreased by the end of the year to an average of 42.3 thousand positions, but in the first week of the new year it rose to 57.8 thousand contracts. A decrease in the volume of positions in the asset affects its price, which was seen at the beginning of the year: the price of silver fell from $ 24.3 per ounce to the current $ 23.02 amid the growth of the USDX, with which silver has an almost perfect inverse correlation, in January the index rose from 100,500 to 102,000 points.Another technical factor influencing the fall in silver prices is the growth in the bond market, which is a competitor for metals due to their high reliability and low volatility. Over the past week, the yield on the leading 10-year government bonds increased from 3,809% to 4,000%, prompting some investors to choose them as an investment object.Resistance levels: 23.38, 24.10.Support levels: 22.70, 22.10.Cryptocurrency Market OverviewThis week, the Solana pair is showing an active recovery, reaching 105.55 today. The growth of quotations was facilitated by the approval by the US Securities and Exchange Commission (SEC) of the launch of spot bitcoin ETFs.Eleven new exchange-traded funds, including products from well-known investment giants such as BlackRock Inc. and Fidelity Investments, may be launched soon, perhaps even today. This will give investors easier access to cryptocurrencies and facilitate asset management, allowing them to purchase products that track BTC price changes in a similar way as it happens with stock and bond index funds, bypassing the need to visit cryptocurrency exchanges and open digital wallets.Experts expect that the bitcoin ETF will attract about $ 30 trillion to the market, but they assume that the growth of investments will be gradual. This is confirmed by the moderate strengthening of the main cryptocurrency pairs, as the market has already anticipated this news and incorporated it into current prices. Meanwhile, SEC Chairman Gary Gensler noted that the approval of bitcoin ETFs does not mean that the regulator will stop considering digital currencies as securities.Resistance levels: 103.40, 119.35, 125.00.Support levels: 81.25, 69.40, 50.00.Crude Oil Market OverviewDuring the Asian trading session, Brent Crude Oil is experiencing growth, trying to gain a foothold above the 77.20 mark against the background of a weakening US dollar before the publication of important inflation data.The consumer price index is expected to increase from 3.1% to 3.2% per annum and from 0.1% to 0.2% monthly. The base index, excluding the cost of food and energy, is expected to adjust from 4.0% to 3.8% per annum, remaining at 0.3% monthly. On Friday, the information on inflation statistics will be supplemented with data on the producer price index for December: the indicator is expected to grow from 0.9% to 1.3% monthly and from 0.0% to 0.1% per annum, while the base indicator may decrease from 2.0% to 1.9%.Oil prices also received support from data from the American Petroleum Institute (API) on commercial reserves, which decreased by 5,215 million barrels in the week of January 5, after a previous decrease of 7,418 million barrels, although analysts expected a decrease of only 1,200 million barrels. The report from the U.S. Department of Energy's Energy Information Administration (EIA) was more moderate, showing an increase in inventories of 1.340 million barrels compared with an expected decrease of 0.675 million barrels and a previous drop of 5.503 million barrels.Resistance levels: 77.00, 78.00, 79.12, 80.00.Support levels: 76.05, 75.04, 74.00, ...
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Articles about financial markets

You can pay with cryptocurrency: which companies accept crypto in 2022
Ethereum/USD, cryptocurrency, Bitcoin/USD, cryptocurrency, Visa, stock, MasterCard, stock, Coca-Cola, stock, PayPal, stock, Shopify, stock, You can pay with cryptocurrency: which companies accept crypto in 2022 The governor of the Bank of England, Andrew Bailey, said that bitcoin is impractical as a means of payment. While cryptocurrencies are not being calculated massively. But today, large companies not only use blockchain, but also accept crypto as payment:Coca-Cola. In 2020, the corporation's Asia-Pacific division announced that it would allow customers in Australia and New Zealand to buy drinks with bitcoin and other coins. Payment is available through devices that accept digital payments.PayPal is the first payment system to add cryptocurrency for transactions. The company acts as an intermediary: the service will exchange cryptocurrency for ordinary dollars at the internal exchange rate, which already includes the cost of conversion.Visa and Mastercard, following PayPal, thought about the possibility of conducting transactions with cryptocurrencies. The systems focus on stablecoins, which have collateral in the form of real assets.Shopify is a platform for creating online stores. Thanks to the developers, the owners of these stores can accept cryptocurrency.Emirates. The airline from the UAE intends to accept bitcoins as payment. Moreover, Emirates will add its own NFT tokens to the site. This is not the first airline operating with cryptocurrencies. Latvian airBaltic has been selling tickets for the crypt for several years.Balenciaga, Gucci, Tag Heuer are also starting to accept cryptocurrency. Moreover, the new payment method will be available not only online, but also in regular stores using QR codes. And the first major retailer that started accepting the crypt was Overstock.Brazilian developer Gafisa announced that now an apartment can be bought for bitcoins. So the company wants to attract investors from other countries, and the cryptocurrency helps to transfer funds quickly and ...
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Madeira "accepts" Bitcoin. What does this mean for the archipelago and the crypto industry?
Bitcoin/USD, cryptocurrency, Madeira \ Speaking at the Bitcoin 2022 conference in Miami, the president of the autonomous region of Madeira, Miguel Albuquerque, made several ambitious statements about the prospects of Bitcoin on the islands."I believe in the future and I believe in Bitcoin," Albuquerque said.He recalled that de facto, Bitcoin is already a legal means of payment on the island, since individuals in Madeira are not subject to capital gains tax when buying and selling bitcoins.The regional corporate tax rate on business on the islands is only 5% — one of the lowest in Europe, which is extremely beneficial for cryptocurrency startups.The President also met with MicroStrategy CEO Michael Taylor. He recommended that he "focus on Bitcoin. Everything else is garbage."Madeira is part of Portugal, which attracts crypto enthusiasts with its zero interest rates on cryptocurrency ...
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Cryptocurrency is allowed in Cuba. Will it save from an eternal crisis?
Ethereum/USD, cryptocurrency, Bitcoin/USD, cryptocurrency, Cryptocurrency is allowed in Cuba. Will it save from an eternal crisis? On May 16, the Central Bank of Cuba will begin issuing licenses for the use of cryptocurrencies in economic activities. The authorities are going to allow the cryptocurrency because of the consequences of the coronacrisis and US sanctions, which have been destroying the country's economy for 60 years.Cuba is a "passing prize"The first settlements on the island were founded by Spanish colonists in the early 16th century and ruled for almost three centuries. Then the metropolis brought African slaves and began to use the land for sugar cane and tobacco – the "oil" of that time.Cuba received relative freedom only at the end of the 19th century after an uprising of local residents and a long war for independence. Spain lost its influence in the Caribbean region, and the United States took its place. Nominally, the United States developed the economy and industry of Cuba, investing hundreds of millions, and then billions of dollars. In fact, they used it as a semi-colony: troops could enter at any moment, local authorities and production controlled it.Before World War I, about 90% of Cuba's exports were tobacco and sugar. Most of the agricultural territories were given over to them. Products for domestic consumption had to be imported – there were not enough of their own. At the same time, companies from the United States received privileges and imported goods to Cuba without duties.The country's economy suffered severely during the First and Second World Wars: first, the flow of goods from Europe stopped, then pro-American officials banned exports from the Soviet Union. As a result of the crisis, the poor could not get vital things, and the elite lived in comfort and luxury.In 1940, President Fulgencio Batista came to power – later he would be called a puppet of the United States. Under Batista, the capital of Cuba, Havana, became the "Latin American Las Vegas." The business was controlled by American monopolies and mafia clans. Businessmen from the United States owned 90% of the mining industry, 80% of utilities and fuel companies and half of sugar production. Batista received millions in bribes, and America turned a blind eye to numerous crimes: from the organization of brothels to drug and human trafficking.13 years later, a group of revolutionaries led by Fidel Castro rebelled against Batista. Impoverished and intimidated by the authorities, people joined the fight against tyranny. Castro promised to distribute land to peasants, ensure independence from the United States and improve the financial situation of Cubans. The resistance has been active for almost six years. A guerrilla war has begun in Cuba. By 1959, Castro's forces were able to capture the capital, and Batista lost control of the state and fled to the Dominican Republic. At the same time, the former dictator took most of the gold and foreign exchange reserves of the Central Bank of Cuba."Friendship against the USA"The Castro government reformed the economy and nationalized most of the companies owned by Batista supporters. 60% of agricultural land was transferred to peasants, the rest went to the state. The authorities began to control the turnover of currencies and trade. Residents of the United States were forced to pay 100% tax on luxury goods and 25% on minerals.In response, the U.S. government stopped importing oil to Cuba and reduced the sugar trade. An economic war has begun between the countries. Castro continued to nationalize American companies, and the United States imposed an embargo: they stopped trading with the Island of Freedom, and any country that provided assistance to Cuba fell under sanctions.The USSR took advantage of the situation. The Soviets gave the Castro government $100 million in loans at 2.5% per annum. Specialists in geological exploration, builders and the military were brought to Cuba. The USSR provided the new ally with equipment, weapons and agricultural products, and in return received sugar, coffee, minerals and representation in the Caribbean. During the period of active trade with the Union, Cuba's economy grew. In the 80s, the country began to build solar and wind power plants, recycle recyclables. Over 20 years of cooperation, Cuba has turned into an industrial and agrarian power. But its economy continued to depend on its "curse" – cane sugar.At the same time, the United States declared Cuba a "sponsor of terrorism" and tightened the embargo again. However, by this time the diplomats were able to establish trade with Latin American countries. Uruguay, Argentina and Venezuela became new partners."Island of freedom" without UnionCuba's economy began to collapse after 1991. Despite diplomatic ties with Latin American and Caribbean countries, the country was dependent on the Soviet Union and still suffered from US sanctions. When the USSR collapsed, the Castro government had to switch to economy mode: there was nowhere to bring equipment and cheap oil in exchange for local goods. The sugar industry became the basis of the economy again, but tourism began to develop in Cuba in parallel.The United States has adopted additional sanctions. Now foreign companies trading with the "disgraced" country were threatened with restrictions. In Cuba, there was a shortage of food and medicines, interruptions in the supply of fuel and spare parts for equipment. GDP began to decrease. During the three years of the crisis, it has decreased by a third. To compensate for the losses, Cuba was looking for foreign partners and investments. Three free economic zones were organized on the island and part of the trade bans were lifted. The government began to create a socialist economy with elements of market relations. State-owned enterprises have introduced self-financing.The first effect of the reforms in Cuba was felt in 2001. Up to this point, the country's economy was shrinking by an average of 3-7% per year, and after that it began to grow. The country has reduced the state monopoly on foreign trade and began to recognize cooperative, private and mixed forms of ownership. After 2010, the government allowed local entrepreneurs to work and introduced a progressive taxation system. Cuba began to actively trade with countries that were less dependent on America. In particular, Venezuelan President Hugo Chavez supplied up to 53,000 barrels of oil to the island daily, in response Cuba sent teachers, doctors and engineers to the new partner. By 2013, about 100,000 Cubans were working in Venezuela. One of the important sectors for the economy has become "medical internationalism". Local doctors started working all over the world.Hurricanes, COVID and new sanctionsCuba still continues to suffer because of the US blockade. The damage has already exceeded $104 billion. And taking into account the depreciation of the US currency — up to $ 1 trillion. After America imposed sanctions against Venezuela, Cuba's main partner began to have serious problems. They were reflected, among other things, on the Cubans. If earlier it was profitable to work in an oil-rich country, then after the Venezuelan crisis, this market almost closed. In addition, interruptions in oil supplies began.The country's economy was also affected by Hurricanes Dennis and Wilma in 2005, Gustav and Ike in 2008, Sandy in 2012. Each of them disabled infrastructure facilities, destroyed buildings and destroyed crops. The military had to deal with the consequences of natural disasters.Another serious blow was the coronavirus pandemic. Many medical professionals were working abroad when COVID was discovered in Cuba. And local doctors lacked medical equipment: there were many elderly people living in the country who were at risk. Officially, the country has coped with the crisis: it was able to introduce an effective system of protection against coronavirus, developed its own vaccines and started immunization. More than 5 million Cubans have been vaccinated against COVID-19. At the same time, the Cuban economy was in a precarious position: the flow of tourists dried up, and investment declined.Dinner for two for a month's salaryNow the "Island of Freedom" has a single currency – the Cuban peso (CUP). $1 = 23.98 CUP or 70-100 CUP at the "street rate". The authorities ask tourists to exchange American currency for euros in advance – banks do not accept and do not exchange USD.The average salary in Cuba for the last 4 years is about $33-45. At the same time:a kilogram of vegetables, a large loaf of bread or a bottle of water cost $0.5;a dozen eggs – $0.7;a liter of gasoline – $1;payment for communal services – $5-10;unlimited internet – more than $100 per month;dinner for two in a restaurant for tourists – up to $25;economy class car rental - $20;1 sq.m. of housing – from $1,500 to $5,000, in tourist areas – higher.Tourists and journalists who have visited Cuba note that it has become unprofitable to work in local industries. Most people live at the expense of relatives who have gone to work in other countries. It is enough to send $50-100 per month to provide for the family.Cubans themselves believe that the authorities have begun to resemble the "puppet government" of Batista. On the islands, "two parallel Cubes" coexist again: elites and Latin American businessmen live in luxury, and ordinary people are forced to live in shacks or sit on the necks of those who left the "Island of ...
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Six Benefits of Betting on Sports Using Bitcoin
Bitcoin/USD, cryptocurrency, Six Benefits of Betting on Sports Using Bitcoin Sports betting is already one of the most significant parts of online gambling, with many countries legalizing it. Nowadays, many sports betting sites provide players with different events to bet on, such as betting on March Madness, the Super Bowl, the UCL final, etc. Undoubtedly, online sportsbooks have made it easy to start placing bets on sports, but with the introduction of cryptocurrency and bitcoin, betting on sports online has become even better. So, here are six benefits you will enjoy when you participate in sports betting using Bitcoin.Improved SecurityWhen you bet using Bitcoin, you can rest assured that your money is secure and every transaction is safe. Since you do not have to use your bank details or card, you do not have to fear that your financial details will get into the wrong hands. Also, since Bitcoin is built on the blockchain, every transaction is saved, and you can always keep track of your payment. In addition, the blockchain is built with complex algorithms and high-end security techniques making it hard for hackers to get into the system. Betting AnonymouslyAnother benefit of using bitcoin is that you can do so anonymously. The blockchain network lets you send and receive money without sharing your personal information. So, if you want, you can find a fully decentralized sports betting site to join, connect your crypto wallet, and you are good to go. You do not need to provide a name, address, or other information. Once the sports betting site receives your money, you can start betting with your bankroll. Higher Deposit & Withdrawal Limits With bitcoin, you will enjoy a bigger limit. In most cases, sports betting sites have a maximum amount limit that you can deposit or withdraw. But the limit is almost non-existent with bitcoin. You can deposit as high as 5BTC at some crypto-enable sports betting sites. That way, if you are a high roller, you might want to try playing with bitcoin so that you can bet with larger amounts and, if you are lucky enough, withdraw massive amounts without hassle. Little to No Transaction FeesSome sports betting sites require you to pay transaction fees whenever you want to deposit or withdraw. However, most crypto-enabled sports betting sites do not require any transaction fee. You can deposit and withdraw as much as you like without having to pay a dime. That way, you can process large sums in a short time, and you would not lose much to transaction fees and the like.    Instant TransactionAnother top benefit of using bitcoin to bet on sports is that the transactions are done instantly. Once you complete the process and enter the correct information, the money will arrive at the intended destination in no time. Unlike fiat transaction that still needs to go through central processing, bitcoin transactions are not subjected to any reviews, and once the money is sent, it is irreversible. Compared to traditional payment options, when you withdraw with bitcoin, you can expect to get your funds within 24 hours. For deposits, within minutes, your account will be fully funded. Bigger BonusesSports betting sites with crypto options offer players more extensive and better bonuses. These bonus offers have changed the way we view the online gambling scene, as the limits are almost non-existent compared to the traditional bonuses we used to get. Moreover, players can now claim the bonuses with a higher deposit limit. So, if it is a match deposit offer, the bonus cash on offer would be more massive than the standard ones. For instance, you can get a 100% match deposit bonus of up to 5BTC, making it over $100,000 in bonus funds. Final NoteBetting with bitcoin is the future of online sports betting, and as crypto is continuously making waves globally, we expect to see more adaptation. As a result, you should start your journey to trying sports betting with bitcoin. If you are lucky enough, you can win big, increasing your bitcoin holdings and, in addition, reducing the risk that comes with the technology. Note that bitcoin is very volatile. If you are not fully aware of how it works, ensure that you learn about the technology before using it to ...
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