A couple of steps away from the new year, many are trying to predict the direction of market winds over the next year, and maybe several. We have also analyzed promising ideas of stock exchanges, and today we will share them with you. In general, everything promising in the coming year is connected with the healthcare sector. Next, let's talk about the two most promising companies in this segment.NovavaxNovavax company was one of the first to enter the championship in the development and creation of a vaccine, but in this case it is still far from the podium. Does the company have real prospects? Let's talk about this further.At the beginning of the year, many experts argued that it was simply not advisable to get involved in the company's struggle. This was due to the fact that there were already many manufacturers of similar drugs, and there was not enough space for new ones. As a result, the experts' "verdict" turned out to be reckless, and today many are confident that the company's assets are among the most attractive in the coming year.The vaccine was one of the first to be released in Europe. It is based on a protein, which in the future can become an alternative for patients who refuse to be vaccinated by Pfizer and Moderna, developed on the basis of RNA.In the spring of 2021, she presented the results of testing a new vaccine to the world, and in mid-summer, repeated tests were conducted in America. The effectiveness of the drug according to the test results ranges from 89.7% to 90.4%. This high indicator allowed the drug to get into the top three most effective, and the company to become a leader in the world market of manufacturers.Immediately after the publication of the results, it was expected that the company's assets should increase in value, but problems with bureaucratic hitches and permission to use the vaccine on world markets led to the fact that the share price remained in place, and subsequently even declined.Different sources explain this fall in different ways. Some argue that there are no special technological lines for the production of the drug in the United States. Others are sure that the drug simply does not meet the standards established in the state, contains unnecessary impurities that can cause a lot of side effects.Today, the drug is recognized in several countries of the world, including Indonesia, India. The vaccine has the permission of the WHO and the euroregulator, together with the submission of the application, it has received permission in several other countries.Today Novavax is awaiting regulatory approval in many countries around the world, including Australia, Canada, South Korea, and the United Kingdom. To accelerate the production of the drug, the company is sponsored by a number of large-scale organizations, including the Gates Foundation and even the American government.If new strains of coronavirus continue to appear, the disease will be transferred to the category of endemic. That is why vaccination will very soon become a routine procedure, and it is also likely that the demand for combined drugs will grow, which the company is currently testing.It is not enough to be able to treat well, you also need to correctly diagnose diseases. That is why next we will talk about the manufacturer of medical equipment for diagnostics.Thermo Fisher ScientificThermo Fisher Scientific is geographically located in Massachusetts. It is one of the leaders in the production of diagnostic tools and equipment used in laboratory and outpatient settings, as well as consumables. The production of coronavirus vaccines and medicines for this pathology is considered to be an equally significant area of activity of the enterprise. From the beginning of the pandemic to the present time, the demand for the company's products remains at a height, so the company today occupies a leading position in the field of medicine.In the spring of 2021, the International Health Association granted the company a license to produce SARS-CoV-2, a test for detecting covid-19. The volume of revenue received only from anti-weed products today has already amounted to $2.05 billion. With the emergence of new strains of coronavirus, the demand for the company's products will only grow.The TMO quarterly report, released on October 27, turned out to be quite strong. Revenue exceeded last year's figure by 15%, as well as by $ 1.2 billion in monetary terms. In total, it amounted to 37.1 billion dollars. According to forecasts, the amount of revenue will increase by $1 billion, and will amount to $7.7 billion.The forecast for this indicator was $40.5 billion, which shows the excellent position of the enterprise, especially for modern market realities. The growth of the company's asset price index exceeded the S&P 500, and reached 40%. With great probability, we can say that the group's positions will continue to be stable.Another trend of the century is electric carsThe vast majority of major analysts last year warned against acquiring Nio assets. At that moment, no one could have thought that the company's market capitalization could reach $90 billion. The volume of cars produced at the same time is 20 thousand units annually.However, over the past year, the company has managed to become an industry leader, and excellent financial results are expected in 2022. This is despite supply disruptions and other problems associated with the pandemic. The company has several new products that will help it increase its market share in China, and take a strong position on it.In the autumn of 2021, the number of cars produced by the company reached 10,900 units, which indicates an active growth in demand for cars with an engine capacity of more than 130,000 per year. The company is going to release about 600 thousand units of cars by the end of 2022. Nio's management plans to introduce three new electric cars to the world market. If the sales growth of cars remains at the planned indicators, then Nio may well have the opportunity to bypass Tesla by this parameter. At least in the Chinese market.An important advantage of the enterprise is the already launched Battery-as-a-service or BaaS program. It allows you to make a monthly payment, which allows you to change the battery on an electric car in the future or update the battery charge. It will also be possible to buy a car without a battery, rearranging it from old equipment.This system will allow the company to receive high-margin revenue in the long term. In addition, we should expect an increase in customer loyalty to the products. The company's assets showed a 13% growth in 2020, but during 2021 they managed to fall by 44%. Today they are stable at around $30. We are waiting for strong growth.Basic Attention TokenIt is already impossible to imagine the financial world without cryptocurrency. How to choose correctly between all the options – Bitcoin, Litecoin, Ethereum and others, and not be left out? An interesting option is offered by the Basic Attention Token.Over the past six months, investors' attention has been focused on tokens supporting the application. If we take into account that since the beginning of the year, the growth of bitcoin has approached 73%, then this is a minuscule compared to the start of the Siba-anu meme token, which soared to 47000000%. However, the main investment flow today is considered to be directed to a cryptocurrency that provides support for applications.In the large list of tokens, the Basic Attention Token from Brave Software deserves special attention. In particular, the token is especially attractive for investing for a long period. The company is now managed by B. Eich is the founder of Mozilla and JavaScript.Coins are mined using the Brave browser, where they are obtained by viewing advertising content. The web browser provides a high degree of security due to the built-in ad blocker and functions to block the collection of user data. Allows you to personally view ads released by program partners, as well as earn tokens by viewing it.Throughout December, bears dominated the cryptocurrency market, which negatively affected the VAT. As a result, the price of the token fell by 30% from the historical highs seen at the end of autumn. However, Bravo is confident that the price will recover its indicators very ...
AUD/USD: Australian Dollar declines after May recordsThe AUD/USD currency pair is experiencing a drop, rolling back after yesterday's surge, when new local highs were reached since May 20, despite strengthening based on positive May data on the Australian labor market.The employment rate in Australia increased by 39.7 thousand, continuing to grow after adding 37.4 thousand in April, which significantly exceeds analysts' expectations, which assumed an increase of 30.0 thousand Full-time employment increased by 41.7 thousand, despite the previous decrease of 7.6 thousand, while part-time employment decreased by 2.1 thousand, after an increase of 45.0 thousand in the previous month. The unemployment rate dropped from 4.1% to 4.0%. These impressive figures confirm the Reserve Bank of Australia's (RBA) ability to ease monetary policy further.Meanwhile, the US dollar is stabilizing after the average trading session: The US Federal Reserve, following its last meeting, left the key rate at 5.50%, but left the door open for a rate cut in 2024. New economic forecasts from the Fed show a potential one and a half rate cuts of 25 basis points by the end of this year, although market expectations hint at two such cuts. The latest US inflation data show a reduction in risks, which led to increased confidence among analysts in the possibility of the first rate cut in September. Core inflation, excluding the cost of food and energy resources, showed a slowdown to 3.4% per annum and to 0.2% on a monthly basis.Resistance levels: 0.6667, 0.6679, 0.6700, 0.6725.Support levels: 0.6646, 0.6622, 0.6600, 0.6578.NZD/USD: Federal Reserve System confirmed the rate of 5.5% per annumDuring the Asian trading session, the NZD/USD currency pair is observing a moderate decline, reaching the level of 0.6166, after having recorded highs since January 15 a day earlier. This happened against the background of data on consumer inflation in the United States and the results of the recent Federal Reserve monetary policy meeting.At the last Fed meeting, the rate was kept at 5.5%. However, investors were particularly interested in the revised forecasts for the rate movement, which now show a decrease to 5.13% by the end of 2024, while previous estimates suggested a decrease to 4.60%. By the end of next year, it is expected to decrease to 4.13%, which is higher than the previously expected 3.90%. Current interest rate futures predict an even deeper decline of 46 basis points before the end of the year. At the same time, the May consumer price index showed a decrease from 3.4% to 3.3% in annual terms and from 0.3% to 0% on a monthly basis, while the base index decreased from 3.6% to 3.4%, which is lower than forecasts of 3.5%.Weak national macroeconomic statistics also have a negative impact on the New Zealand dollar: the volume of retail sales carried out using electronic cards fell by 1.6% year-on-year in May after a decrease of 3.8% earlier, and decreased from -0.4% to -1.1% on a monthly basis.Resistance levels: 0.6175, 0.6200, 0.6221, 0.6250.Support levels: 0.6152, 0.6130, 0.6100, 0.6082.Cryptocurrency market overviewThe quotes of the SOL/USD pair continue to weaken, aiming for a support level around 145.00, which has developed since last summer.The opinions of cryptocurrency market analysts differ: some experts suggest that the SEC's positive decision on applications for the creation of spot Ethereum ETFs may contribute to the launch of a similar fund based on Solana, which will support the growth of the value of SOL/USD. At the same time, other experts point to judicial decisions regarding the Coinbase and Kraken exchanges, where the SOL token was classified as a security, which may become an obstacle to its trading, although cases against Solana Labs have not been initiated.During this period, the company is strengthening control over the activities of validators: 30 operators were excluded from the delegation program for violations, having lost the opportunity to receive rewards for participating in the verification of transactions in the blockchain. According to CoinDesk, some bots were used for manipulation on decentralized financial platforms. In March, in the wake of the surge in popularity of meme tokens on Solana, Jito Labs temporarily disabled the mempool to prevent "sandwich attacks", but then activity increased again in private pools. Tim Garcia, who oversees the work with validators at Solana, confirmed that the company will continue to combat abuse by identifying and terminating cooperation with operators involved in unfair practices.Resistance levels: 159.60, 183.40.Support levels: 145.20, 121.00.Oil market overviewBrent Crude Oil prices are experiencing moderate growth, holding near the $82.00 per barrel mark.This increase is supported by forecasts from the International Energy Agency (IEA), according to which global oil demand will reach 103.2 million barrels per day in 2024, which is 1 million barrels more than in 2023. In the following years, the agency expects further growth in demand: up to 104.2 million barrels in 2025 and up to 105.0 million barrels per day in 2026. In parallel, the IEA predicts an increase in capital investments in the development of extractive capacities: after $ 538.0 billion was invested in this area in 2023, it is expected that in 2024 these investments will increase by at least 7%. This is especially true for non-OPEC+ countries, such as the United States.Resistance levels: 82.90, 85.10.Support levels: 81.10, ...
EUR/USD: Germany's April CPI is in line with analytical forecastsDuring the morning trading session in Asia, the EUR/USD pair showed fluctuating movements, remaining near the 1.0785 level. Investors remain cautious, refraining from active trading until the publication of important economic data from the United States and the eurozone.In April, German inflation was in line with expectations, noting an increase of 0.5% and confirming an annual rate of 2.2%, which is consistent with economists' forecasts. The harmonized consumer price index, adapted to EU standards, showed an acceleration from 2.3% to 2.4%. According to preliminary estimates, the Spanish consumer price index may increase from 3.2% to 3.3%. Important data on eurozone GDP for the first quarter are expected on Wednesday at 11:00 (GMT+2), forecasts indicate stability of the indicator at the level of 0.3% quarterly and 0.4% annual growth. The market's attention will also be focused on the indicators of industrial production, which, according to forecasts, may show a decrease of 0.2% in monthly dynamics after the previous growth of 0.8%, and an improvement in the annual index from -6.4% to -1.8%.Resistance levels: 1.0810, 1.0890.Support levels: 1.0760, 1.0660.AUD/USD: Australian authorities predict a decrease in inflation by the yearThe AUD/USD pair is slightly losing ground, stabilizing near the 0.6600 level. Amid the lack of significant news, the market is in a state of expectation, where investors are weighing their steps ahead of key events, especially in the United States, where inflation data for April is expected to be published tomorrow.In Australia, data on the state of the labor market for April will be announced on May 16: analysts predict an increase in employment by 23.7 thousand people, after a decrease of 6.6 thousand in the previous month. At the same time, it is assumed that unemployment will increase from 3.8% to 3.9%. The presentation of the budget plan is also in the focus of investors' attention today. According to recent forecasts, inflation should fall to 3.75% by mid-2024 and to 2.75% by mid-2025, re-entering the Reserve Bank of Australia's target range. However, the authorities said last Sunday that it is expected that the overall inflation rate could reach 2.0-3.0% by the end of this year, while representatives of the RBA believe that the indicator may remain at 3.6% in the first quarter and rise to 3.8% by June. Finance Minister Jim Chalmers stressed that the budget will pay special attention to measures to counter price pressures that have a significant impact on the cost of living of the population.Resistance levels: 0.6622, 0.6646, 0.6667, 0.6700.Support levels: 0.6600, 0.6578, 0.6558, 0.6540.Cryptocurrency market overviewLast week, the ETH/USD rate continued to decline, following the general trend of the market, under the influence of both monetary and regulatory factors that put pressure on other key assets. Investors are expressing concern about the possible continuation of high rates by the US Federal Reserve System until the end of the year, despite the slowdown in the labor market. US inflation data for April, which will be published on Wednesday, is expected to show a decrease in the index, but this is unlikely to change the strict position of the regulator.ETH is also under additional pressure from the uncertainty surrounding future decisions by the U.S. Securities and Exchange Commission (SEC). Soon, on May 23 and 24, the deadline for reviewing applications from VanEck and ARK Invest for the creation of spot funds based on ETH expires, but forecasts regarding a positive result are disappointing. Unlike previous cases of approval of bitcoin ETFs, there is no information about consultations between the regulator and representatives of interested companies, which may lead to a possible postponement or refusal to consider applications for ETH ETFs until the autumn. In addition, there are signs that the American authorities have begun to consider ETH as an unregistered security and are collecting information about the activities of its developers. In this context, the co-founder of Ethereum, Joseph Lubin, pointed out that the SEC had actually reclassified ETH as an illegal asset without notifying the public.Resistance levels: 3125.00, 3281.25, 3437.50.Support levels: 2812.50, 2500.00, 2187.50.Oil market analysisDuring the Asian trading session, WTI Crude Oil prices show mixed changes. Some support for prices is provided by the anticipation of the publication of the OPEC report, scheduled for today at 13:00 GMT+2. At the same time, many investors refrain from opening new positions, preferring to wait for the US inflation data, which are expected tomorrow at 14:30 at the same time.In the context of the expected OPEC report, market participants hope to find out updated forecasts for oil production volumes. For example, since the beginning of the year, several countries, including Russia and Saudi Arabia, have initiated voluntary production cuts totaling 2.2 million barrels per day in order to maintain market stability. Iraqi Deputy Oil Minister Basim Mohammed Khudair expressed Iraq's commitment to the OPEC+ agreement, but pointed out difficulties with its implementation, doubting the possibility of extending current production restrictions. Traders also expect information about the situation in the Middle East, which could lead to significant supply disruptions if the conflict worsens. The upcoming OPEC meeting is scheduled for June 1, and according to analysts, there are no changes in production plans. The International Energy Agency predicts that oil demand in 2024 will reach a record of more than 103 million barrels per day.Resistance levels: 79.07, 80.00, 81.00, 82.00.Support levels: 78.00, 77.00, 76.00, ...
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, ...
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, ...
Today, on June 9, Ethereum developers informed the community about the successful merger of the oldest Ethereum Ropsten test network using the Proof-of-Work algorithm with the Beacon test network using the Proof-of-Stake consensus algorithm, which was one of the final test steps before the full update of the Ethereum 2.0 network.Repeated testing of the chain with Proof-of-Stake, according to the developers, will allow for a secure merger of the existing blockchain with a new version of the block network and obtain a single effective Erhereum blockchain that will not have existing problems and will open the way for the introduction of innovative ideas in the development of a decentralized financial system and the digital economy as a whole.Before the full launch of Ethereum 2.0 with the deployment of PoS, two more mergers of the Beacon network with the Goerli and Seoplia test networks are planned.The final implementation of PoS in the Ethereum blockchain, according to co-founder Vitalik Buterin, should take place in August of this year.The market reacted sluggishly to the technologically important event that took place, and investors did not show high purchasing activity.Ethereum is trading at around $1,800 with no spikes in volatility.The acute foreign policy and macroeconomic situation today has a greater impact on the mood of investors seeking to preserve their capital than the prospect of future income.Therefore, analysts do not predict a surge in volatility even with the full completion of the Ethereum 2.0 update. Volatility may arise, perhaps, only if problems arise in the network that can affect user ...
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 ...
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 ...