Day: August 20, 2024

El Salvador mined 474 BTC using geothermal energy from volcanoes.

El Salvador has mined 474 BTC using volcanic energy since September 2021. The extracted cryptocurrency is valued at $27.7 million at the current exchange rate. The country has also attracted $1.62bn in investments to build Bitcoin City. https://preview.redd.it/odyvjxyxptjd1.png?width=753&format=png&auto=webp&s=f05232b873efe4603736d16a374e23fce46e4ca3 submitted by /u/Lor1al [link] [comments]

Hedge funds have flipped bullish on the Japanese Yen for the first time since 2021.

https://preview.redd.it/xw49qlyqttjd1.png?width=819&format=png&auto=webp&s=e736351644d028bed1fdb23002fe58cfca04cccc According to CFTC data, leveraged funds now hold a net long position of 86 contracts on the Yen, valued at approximately $7 million. This marks a sharp reversal from July, when positions were net short by about 115,000 contracts, the largest net short in years. With the unwinding of the Japanese Yen carry trade, hedge funds are seizing the opportunity. Consequently, the Yen has surged 10% against the US dollar in just a few weeks. Is the carry trade still a significant market risk? submitted by /u/XGramatik [link] [comments]

The average expected likelihood of becoming unemployed rose to 4.4% — the highest in 10 years of recordkeeping. More and more Americans are worried they will lose their job

Job growth is slowing and new survey data released Monday shows that Americans are starting to feel increasingly unsettled about it all. The Federal Reserve Bank of New York’s latest survey on consumers’ labor market experiences and expectations showed that job, wage and benefits satisfaction all sank in July. submitted by /u/Aftermebuddy [link] [comments]

European shares flat as traders brace for key euro zone data

(Reuters) – European shares were subdued on Tuesday as investors refrained from placing massive bets ahead of key data from the euro zone, while energy stocks were the biggest laggards following a drop in global oil prices. The pan-European STOXX 600 index held its ground at 514.87 points, as of 0710 GMT, after touching a three-week high in the previous session. The oil and gas sector was the biggest loser in the benchmark index, dropping nearly 1%, as crude prices edged lower on easing geopolitical risks and weak demand from China. [O/R] Technology stocks gained 0.6%, led by a 1.3% jump in heavyweight ASML (AS:ASML) Holdings. On investor radar is euro zone’s consumer price data that is scheduled to drop at 0900 GMT. German producer prices decreased 0.8% on the year in July, in line with forecasts. The German benchmark DAX ticked 0.2% higher. The Swedish benchmark was flat ahead of its central bank rate decision at 0730 GMT. Among individual stock moves, Jyske Bank gained 2.1% after the Danish bank reported its first-half results. submitted by /u/Lor1al [link] [comments]

Gold prices hit a fresh record high — above $2,500 an ounce. Here’s why gold prices could climb even higher from current record levels

Well, even though gold prices hit the new record, it is not over yet. We might see even higher numbers, but how it will be? There are few reasons: Anticipated Fed rate cuts weakening the dollar and bond yields; Recession fears driving safe-haven demand; Ongoing geopolitical tensions; Sustained central bank buying and de-dollarization trends; Chinese consumers seeking value preservation amid economic instability; Inflation hedging; Technical momentum from the ongoing price rally. Who knows, we might see even a $2700 or $3000 per ounce. But only time will tell. submitted by /u/Aftermebuddy [link] [comments]

A historic 8.5% of homes in the U.S. are now valued at $1 million or more.

https://preview.redd.it/ehefmaroetjd1.png?width=861&format=png&auto=webp&s=02f54d1396b5adb03fcbd3a5a8fc7ae83c8e3219 In the past four years, this percentage has more than doubled. According to Redfin’s estimates, 8 million homes were valued at over $1 million in June 2024, compared to 7.2 million in June 2023 and 3.4 million in June 2019. Additionally, the proportion of homes worth at least $1 million has increased year-over-year in 47 out of the 50 largest metro areas. At the same time, the median price of luxury homes surged 9.0% year-over-year, reaching a new record high of $1.18 million in Q2 2024. Housing costs have never been this steep. submitted by /u/XGramatik [link] [comments]

China has recognised cryptocurrency transactions as a method of money laundering.

The Supreme Court of China has revised the Anti-Money Laundering Law (AML) adopted in 2007. Under the new interpretation, transactions involving virtual assets are recognised as a method of money laundering. https://preview.redd.it/jyi7m5vydtjd1.png?width=727&format=png&auto=webp&s=a0400d30759235cc41eeee770e0e999aa0dd2c66 submitted by /u/Lor1al [link] [comments]