FOREX NEWS & BLOG

Germany Q3 final GDP +0.1% vs +0.2% q/q prelim

Germany Q3 final GDP +0.1% vs +0.2% q/q prelim

  • Prior -0.1%

Upon the revision, the German economy is seen just growing marginally in Q3. That was still better than the first estimations of a possible technical recession. But the storm clouds are definitely brewing going into next year, not least with Trump tariffs looming large just over the horizon.

This article was written by Justin Low at www.forexlive.com.

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Short-term Analysis for BTCUSD, XRPUSD, and ETHUSD for 22.11.2024

Short-term Analysis for BTCUSD, XRPUSD, and ETHUSD for 22.11.2024

Dear readers, I’ve prepared a short-term forecast for Bitcoin, Ripple, and Ethereum based on the Elliott wave analysis. Major Takeaways BTCUSD: Bullish momentum continues. Consider long positions from the current level with Take Profit at 100,000.00. XRPUSD: The price is expected to rise in impulse [C]. Consider long positions with Take Profit at a high of 1.473. ETHUSD: The price continues an ascending momentum movement. Consider buying from the current level with Take Profit at 3,534.34. Elliott Wave Analysis for Bitcoin BTCUSD has presumably formed a correction [4] as a triple zigzag (W)-(X)-(Y). A new bullish wave is developing in the last segment… Read full author’s opinion and review in blog of #LiteFinance

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Eurostoxx futures +0.2% in early European trading

Eurostoxx futures +0.2% in early European trading

  • German DAX futures +0.2%
  • French CAC 40 futures +0.1%
  • UK FTSE futures +0.4%

This follows the more positive glow yesterday, with US stocks also carried by value and small caps. Tech shares are the ones seen more sluggish, failing to convince after Nvidia’s earnings on Wednesday. S&P 500 futures are also seen flat now with Nasdaq futures down 0.1%. Meanwhile, Dow futures are seen up a touch by 0.1% for now.

This article was written by Justin Low at www.forexlive.com.

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Short-term Analysis for Oil, Gold, and EURUSD for 22.11.2024

Short-term Analysis for Oil, Gold, and EURUSD for 22.11.2024

I welcome my fellow traders! I have made a price forecast for the USCrude, XAUUSD, and EURUSD using a combination of margin zones methodology and technical analysis. Based on the market analysis, I suggest entry signals for intraday traders. The euro continued to trade in a short-term downtrend yesterday. Major Takeaways USCrude: oil will likely test the short-term downtrend’s boundary 70.85 – 70.45 soon. XAUUSD: gold is growing within an uptrend. EURUSD: short trades on the euro have reached all the targets within a short-term downtrend. Oil Price Forecast for Today: USCrude Analysis Oil continues to trade in a correction within… Read full author’s opinion and review in blog of #LiteFinance

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Crypto’s Justin Sun Drops $6.2 Million on a Banana

Crypto’s Justin Sun Drops $6.2 Million on a Banana

Justin Sun, Tron blockchain founder, spends $6.2M on Maurizio Cattelan’s “Comedian,” a banana taped to a wall, and plans to eat the art.
Crypto meets absurdity!

In a world where blockchain disrupts finance, Justin Sun, the eccentric
founder of the Tron blockchain and cryptocurrency, has disrupted something else
entirely: modern art. Sun recently paid a jaw-dropping $6.2 million for
Maurizio Cattelan’s “Comedian,” the viral artwork featuring a single
banana duct-taped to a wall in a six-way auction in New York. While most buyers
would consider preservation paramount, Sun has announced his plan to eat the
banana. Yes, eat it.

“(I)n the coming days, I will personally eat the banana as part of this
unique artistic experience, honoring its place in both art history and popular
culture,” Sun
said
.

This isn’t just another case of a crypto billionaire flexing his
financial muscles. It’s a bizarre mash-up of tech wealth, artistic satire, and
outright absurdity, proving that sometimes, the banana’s appeal is just too…
ripe.

What Is “Comedian,” and Why Is It Worth Millions?

For those unacquainted with highbrow satire, “Comedian”
became an instant sensation when Cattelan debuted it at Art Basel in 2019 and
sold for $120,000. The artwork, which literally consists of a banana affixed to
a wall with duct tape, is a commentary on consumerism, art, and society’s
obsession with value. Despite its ephemeral nature (bananas are notoriously
perishable), the piece has sold multiple times for outrageous sums.

The Best Bit!

But wait… This is the best bit. Sun’s $6.2 million purchase now holds
the record as the most expensive iteration. The kicker? The artwork doesn’t
even include the banana. Buyers receive a certificate of authenticity and
detailed instructions on how to reassemble it—banana included.

Banana as Branding: A Crypto Mogul’s PR Stunt

Justin Sun’s purchase has more to it than a penchant for potassium. The
move fits his well-known flair for extravagant publicity stunts. Remember when
he bid $4.6
million to have lunch with Warren Buffett
or splashed $28
million on a ticket for a Blue Origin spaceflight
? While the space trip
fell through, Sun’s appetite for jaw-dropping splurges remains unrelenting.

By munching on “Comedian,” Sun seems to be taking modern
art’s “temporary” value to its logical extreme. Some view this as an
audacious display of crypto wealth, while others see it as an apt metaphor for
the fleeting nature of hype in both art and blockchain. Either way, it’s got
people talking—which is exactly what Sun intended.

The Art Market Meets Crypto Chaos

This purchase is not just about a banana; it’s a glimpse into the
intersection of art and blockchain wealth. Crypto moguls have increasingly
shown interest in art, particularly NFTs, which revolutionized digital
ownership. Sun’s acquisition highlights another angle: the ability to blur
boundaries between physical art and performance. After all, when Sun consumes “Comedian,” it transcends mere ownership—it becomes a spectacle.

Critics argue this move diminishes the value of serious art, reducing
it to a meme-level joke. Sun’s defenders counter that this is exactly the kind
of irreverence that modern art is supposed to provoke. Either way, Sun’s antics
have made “Comedian” the talk of the global art and tech communities.

What’s Next? Dessert?

Sun’s plan to eat the banana adds an element of unpredictability to the
already absurd tale. Art aficionados are left wondering whether this act will
elevate “Comedian” into legendary status or trivialize it completely.
The banana’s ultimate fate remains uncertain—will Sun livestream the feast,
mint the moment as an NFT, or turn it into another viral crypto campaign?

Regardless, Sun’s stunt underscores the unique role of crypto
billionaires in shaping cultural conversations. Whether he’s elevating art to
new heights or dragging it down to farcical depths, one thing is certain:
Justin Sun isn’t afraid to take a bite out of the bizarre.

The Final (?) Twist

But, hold your horses, yesterday, November 21, Sun suggested an
out-of-this-world future for the banana: donating it to Elon Musk for a cosmic
journey. “I’m ready to hand over my banana to Elon Musk, have it taped to
the body of a SpaceX rocket, and launch it to both Mars and the Moon!” Sun
declared.

OK, then.

The story of Justin Sun and his $6.2 million banana is a perfect
cocktail of wealth, satire, and spectacle. As crypto continues to redefine
global markets, Sun has proven that it can redefine art and culture, too.
Whether you see him as a visionary or just an absurdist with deep pockets, Sun
is undeniably a master of keeping himself—and Tron—at the forefront of the
conversation.

For more stories around the edge of finance, follow our Trending section.

This article was written by Louis Parks at www.financemagnates.com.

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FX option expiries for 22 November 10am New York cut

FX option expiries for 22 November 10am New York cut

There is arguably just one to take note of on the day, as highlighted in bold.

That being for EUR/USD at the 1.0500 level. However, just be wary that this comes after the daily break below the figure level yesterday but not for the first time in a long while though. We also got a daily break below that in October last year, before price bounced back up to hold the line on the weekly chart.

In that sense, the weekly close will once again be a key focus in determining any further downside convictions in the pair going into next week. As such, the expiries here may offer a bit of a pull during the day. But I reckon unless there is something in the PMI data today, sellers will remain poised unless the dollar falls out of favour all of a sudden.

The October 2023 low comes in at 1.0448 but as per the weekly chart here, a firm break under 1.0500 is likely to set off stronger downside momentum in the pair after breaking the range in the past two years.

For more information on how to use this data, you may refer to this post here.

This article was written by Justin Low at www.forexlive.com.

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Market Structure Low High MT4 Indicator

Market Structure Low High MT4 Indicator

The foreign exchange market, or forex for short, can be a thrilling yet intimidating arena for new traders. Prices constantly fluctuate, and deciphering their underlying patterns feels like cracking a complex code. Thankfully, technical analysis tools like the Market Structure Low High MT4 Indicator can shed light on price movements and empower you to make […]

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ForexLive Asia-Pacific FX news wrap: Gold, BTC up

ForexLive Asia-Pacific FX news wrap: Gold, BTC up

Gold
and Bitcoin remained bid during Asia time. Gold traded to highs above
US$2690 briefly while BTC/USD traded above US$99K.

The
data focus for the session was on Japanese inflation for October. All
three of the main measures are sitting above the Bank of Japan 2%
target, further fuelling expectations of a Bank of Japan rate hike at
its December 18-19 meeting.

Just
prior to posting the latest Reuters survey of economists showed 56%
expect a hike, so its not an overwhelming majority by any means.

USD/JPY
dropped lower after the data, to briefly under 154.00 (just barely).
The drop was helped along by Prime Minister Ishiba saying the latest
economic package would be around 39 trillion yen, about 253bn USD
equivalent.

A
little after USD/JPY had hits lows we got a reminder that the economy
remains shaky, with the November preliminary PMIs mixed:

  • Manufacturing
    49.0 (October was 49.4)
  • Services
    a little more encouraging at 50.2 (vs. October 49.7)
  • Composite
    49.8 (October 49.6)

NZD/USD
fell to 0.5830. The Reserve Bank of New Zealand meet next week with a
50bp rate cut fully priced in to the market. After the meeting next
week, November 27, the Bank does not meet again until February 19.
This is fuelling a 30% pricing of a 75bp rate cut next week. AUD/NZD
hit its highest today since October 2022, with a still-hawkish
Reserve Bank of Australia expected to be on hold until February (ANZ
and CBA tipping a cut then) or even May (NAB and Westpac tip a May
cut).

The
People’s Bank of China propped up the onshore yuan again today,
setting the USD/CNY reference rate circa 550 points lower than the model estimate.
The Bank also said it’d

  • prevent
    the formation of one-sided expectations on the yuan,
  • keep
    the yuan basically stable at a reasonable and balanced level.

Q3
Singapore GDP growth came in smashing estimates at 5.4% y/y vs. 4.6%
expected.

This article was written by Eamonn Sheridan at www.forexlive.com.

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