Month: November 2024

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In 1965, when I was 18 years old, I could see “copper” on the edge of our “silver” coins. Only 18 at the time, I did not realize Gresham’s Law was talking to me. Greshams Law states “When fake money enters the system real money goes into hiding.” In 1965 I began hiding real money…a little at the time. Today I literally own tons of gold and silver because I eventually began buying my gold and silver mines in 1985. And I save Bitcoin. The problem with our money is our money supply is managed by PhD’s like my poor dad. I often said to my poor dad PhD stood for “Poor Helpless and Desperate.” Our Treasury is run by PhD Janet Yellen and the Fed has 760 Phds. No wonder the US is the biggest debtor nation in history and our dollar will soon be toilet paper. Who cares if you like gold, silver, or Bitcoin? I care. If you do not know which to own….just buy one gold coin, or one silver coin, or one Bitcoin Satoshi. Buy one then set a goal of how many coins you will buy every month. You may not get rich quick… but I promise you this…regardless of what coin you choose….gold, silver, or Bitcoin….the first thing that will happen to you is you will get smarter and your financial wealth will grow as your financial wisdom grows. And that is how and why the rich are getting richer…and the liberal academic left grow poorer. Please stop listening to PhDs, choose one coin, gold, silver, or Bitcoin….set a monthly goal….and get richer. I care. Please take care of your money because our government leaders are stealing our wealth via our fake money. submitted by /u/XGramatik [link] [comments]

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⌛️ Four market phases that you can use in the Smart Money concept! 🔋 First up is the accumulation phase. During this phase, prices are low, and smart money investors are starting to accumulate the asset. This is the phase where the market is building a base before an uptrend, the absolutely best time to Buy. 📈 The uptrend phase is the second phase, where prices rise. This is when the market is making higher highs and higher lows, and more and more investors start to jump in. 🤑 The third phase is the distribution phase. During this phase, prices are high, and smart money investors start to sell their holdings. Be ready to Sell here! 📉 The final phase is the downtrend phase, where prices fall. This is when the market makes lower lows and lower highs, and investors panic and sell. ✅ Remember, the market is building a base before a trend in the accumulation and distribution phases. In the uptrend and downtrend phases, the market is making higher highs or lower lows, respectively. submitted by /u/Yuriy_UK [link] [comments]

📈 DXY: largest one-day correction since early August The US Dollar Index (DXY) experienced a significant correction yesterday, its largest since early August. One of the main factors influencing the dynamics was the less dovish comments of Isabel Schnabel from the European Central Bank (ECB). These statements had a noticeable impact on investor sentiment. In addition, there are flows of rebalancing at the end of the month from buyers. Fund managers were likely making upward adjustments to their non-US dollar portfolios to bring them back toward their desired benchmarks. It’s worth noting that some of this activity occurred in more liquid markets, which may have also contributed to the DXY’s performance. submitted by /u/Yuriy_UK [link] [comments]

Bloomberg: Solana price consolidated above $236 on Thursday, down 10.3% from last week’s peak of $264. Solana node validators have unstaked 10.8 million SOL ($2.6 billion) since prices crossed the $200 mark on November 8. The influx of unstaked coins into the market could potentially impede Solana’s next $250 breakout attempt. submitted by /u/Denchock [link] [comments]

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The Russian ruble has slid to its lowest levels against the dollar since the invasion of Ukraine and weakened against the Chinese yuan. Moscow will likely be able to halt the freefall triggered by mounting sanctions pressure, but its value will continue to gradually decline in 2025, analysts say. What happened? The Russian ruble tumbled to its lowest level since March 2022 on Wednesday, crossing 113 rubles per U.S. dollar on the Forex exchange markets. Russia halted trading in dollars and euros on its leading financial marketplace, the Moscow Exchange (MOEX), in June in response to U.S. sanctions. Because the ruble is mostly traded on the Forex currency markets among various international players with limited participation of Russian companies, some analysts say that this benchmark is not a true indicator of the ruble’s strength. And yet, the ruble’s decline is visible not just in the Forex currency markets but across the board. https://preview.redd.it/nih61dyjqo3e1.png?width=1171&format=png&auto=webp&s=29bc0103325526f6ec6404855d71fc574e0d0f0f Within Russia, rubles are exchanged between banks — or between banks and customers — for dollars and euros. The Central Bank publishes its official ruble exchange rate based on these transactions. Russian media report that it is possible to buy cash dollars at currency exchange offices in Moscow at a slight premium to the official rate. The Central Bank’s official ruble-dollar exchange rate rose to 108 on Thursday, up 3% from Wednesday. The ruble also weakened against China’s yuan, which is still traded on the Moscow Exchange. The ruble fell below the mark of 15 per yuan on Wednesday, the first time since March 2022. “The market related to the exchange of the Russian ruble is segmented and illiquid,” economist Sofia Donets said. “For now, the most reliable indicator of the exchange rate is probably the yuan exchange rate. The imputed rate, if we look at the cross rate of the yuan to the dollar, is now closer to 108, but the reality of rapid weakening [of ruble] is evident.” https://preview.redd.it/35o54ahoqo3e1.png?width=1183&format=png&auto=webp&s=1b1509e226b8432f091d4eb9e47aea14a4e2ed90 Why did the ruble exchange rate drop? Analysts have offered several explanations for the ruble’s sudden downturn. Simply put, new Western sanctions and seasonal factors increased the demand for foreign currency, and Russian exporters did not sell enough currency to offset this increase. The latest U.S. restrictions on Moscow on Nov. 21 target Gazprombank, the largest and hitherto most important remaining non-sanctioned Russian bank used by Moscow for energy trade, among many other institutions. Gazprombank worked not only to service Gazprom’s gas trade, but all of Russia’s foreign trade, said Sergei Vakulenko, a senior fellow at the Carnegie Russia Eurasia Center. The fresh U.S. sanctions threaten the Russian economy, particularly its foreign currency export earnings, said Maximilian Hess, founder of Enmetena Advisory and a fellow at the Foreign Policy Research Institute. “The sanctions have played a key role by targeting the main vector of Russian energy payments and Chinese payment routes to and through China by targeting VTB Shanghai,” Hess told The Moscow Times. The new restrictions compound the secondary U.S. sanctions on the Russian financial sector announced last December, Hess said. The potential end of Russia’s pipeline gas supplies to Europe via Ukraine next year could also impact financial markets, he added. “With escalation and uncertainty in a situation [like the current one], people usually go into safe assets, particularly into [hard] currency. Expectations that everything will be shut down, and now is the last chance to buy dollars and euros,” Vakulenko told Deutsche Welle. Seasonal factors like heightened demand for imports during the holidays also played a role. “There is always a seasonal increase in the need for imports and foreign currency in the fourth quarter. Last year the gap was covered by a high rate of return on foreign currency earnings. Now there is no such thing, hence the ruble’s collapse,” analyst Pavel Ryabov said. The volume of foreign currency sales of major exporters in Russia’s domestic market increased to $10.3 billion in October 2024 from $8.3 billion in September, but this is still lower than in October 2023 ($12.5 billion), Ryabov pointed out. In July and then in October, the Russian government eased requirements for major Russian exporters to convert their foreign currency earnings into rubles. Who are the losers? The ruble’s exchange rate contributes to inflation by raising the price of imported goods and making travel more expensive for Russians. With 25% of Russia’s consumer goods imported from abroad, a 10% drop in the ruble exchange rate could add up to 2.5 percentage points to Russia’s inflation rate, according to VTB’s Pyanov. Meanwhile, Russia has already been battling elevated prices, with official projections estimating inflation to reach 8-8.5% this year — double the Central Bank’s target of 4%. What can Russia do to prop up the ruble? The Kremlin has several options to halt the ruble’s slide, but doing so will prove more difficult than in the past, analysts said. Previous ruble declines caused foreigners to invest in cheaper rubles in anticipation of a higher Central Bank key rate, while domestic production was boosted with consumers switching to cheaper homemade goods, economist Alexander Kolyandr said. Today, however, the Russian market is out of bounds for international capital, while the country’s overheated economy cannot increase production, Kolyandr wrote. Moreover, the Central Bank has little room to hike interest rates and make ruble holdings more attractive. The Russian key interest rate is already at a record high of 21%. This leaves the Central Bank to halt foreign currency purchases, which are designed to diversify the country’s reserves, and for Russian exporters to increase sales of their foreign currency holdings. The most effective tool would be to force Russian exporters to buy rubles with their foreign exchange revenue, Kolyandr noted. While this would help stop the currency’s decline, it would shift problems onto exporters who need the currency for their operations, he said. Pavel Ryabov cited increasing the share of payments for imports in rubles, more foreign currency converted into rubles by exporters, and extending the moratorium on currency purchases by the Central… Continue reading How Far Can Russia’s Ruble Fall Amid Its Latest Tumble?

🥈Silver formed a falling wedge pattern and aims to retest the 30.20 resistance level and the upper border of the pattern. The Momentum oscillator breaches below the 100-line and the 9-MA crosses the 14-MA upnwards, giving a bullish sentiment for the asset submitted by /u/Yuriy_UK [link] [comments]

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China attacked U.S. President-elect Donald Trump’s pledge to slap additional tariffs on Chinese goods over fentanyl flows, saying his incoming administration was pushing the blame for America’s opioid crisis onto China. Trump, who takes office on Jan. 20, said on Monday he would impose a 10% tariff on Chinese goods so that Beijing does more to stop the trafficking of Chinese-made chemicals used in the highly addictive narcotic. He had threatened tariffs in excess of 60% on Chinese goods while on the campaign trail. “China’s position against unilateral tariff increases is consistent,” He Yadong, a spokesperson for the commerce ministry, told a regular news briefing on Thursday. “Imposing arbitrary tariffs on trading partners will not solve America’s own problems.” He added that the U.S. should abide by World Trade Organization rules and work with China to promote stable economic and trade relations. Trump’s comments fired the starting gun for what analysts expect to be a bruising four-year trade war, potentially much worse than his first term which saw tariffs of 7.5%-25% levied and global supply chains uprooted. Indeed, Howard Lutnick, Trump’s pick to run the Commerce Department and oversee the Office of the U.S. Trade Representative, said in a podcast interview in October that “China is attacking America” with fentanyl and suggested Trump might levy tariffs as high as 200% on China. Editorials in China’s state media this week have warned new duties could drag the world’s top two economies into a mutually destructive tariff war. DEJA VU There was already an eerie sense of deja vu on Thursday after China’s state media praised some U.S. firms for “strong collaboration” – commentary reminiscent of how tensions with the U.S. were covered by the Chinese press during the previous trade war. Back then, U.S. corporate executives and foreign investors would scour Chinese state media for signals as to which U.S. firms might be in favour and which might be penalised as tensions ratcheted up. The state-owned Global Times late on Wednesday highlighted Apple, Tesla, Starbucks and HP. “U.S. politicians need to pay attention to and respect the evident willingness of American businesses for economic and trade cooperation by tailoring suitable policy environments for enterprises,” it said. The China Daily also noted that Morgan Stanley received regulatory approval in March to expand its China operations, citing this as evidence of foreign financial firms’ enthusiasm for investing in China. “Neither side was good about communicating policy directly, so business was busy looking at the tea leaves and trying to separate signal and noise in traditional and social media,” a Beijing-based American executive said of the first trade war. The executive was not authorised to speak to media and declined to be identified. The U.S.-China trade war during Trump’s first term saw China threaten to ban U.S. companies from importing, exporting and investing in China with the creation of the “Unreliable Entity List”. At the time, Global Times reported the list would target U.S. companies such as Apple, Cisco Systems and Qualcomm . But China never followed through on the threat and to date the list has only included U.S. companies involved in the sale of arms to Taiwan. submitted by /u/Pllover12 [link] [comments]

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• EUR/CAD shed 0.30% on Thursday to trade near 1.4770. • The cross faced rejection at the 20-day and 200-day SMA convergence at around 1.4800, completing a bearish crossover. • The bearish crossover tends to be bearish sign, hinting at further weakness in the pair. Bloomberg: The EUR/CAD fell by 0.30% on Thursday, reaching approximately 1.4770. The convergence of the 20-day and 200-day Simple Moving Averages (SMAs) around 1.4800 was rejected the cross, which resulted in a bearish crossover. This bearish crossover may suggest more weakness in the pair. Technical indicators, such as the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD), substantiate the bearish momentum in EUR/CAD’s recent price action. The RSI, currently in negative territory, shows increasing selling pressure with a declining slope, suggesting a rise in bearish sentiment. Meanwhile, the MACD, though flat, remains in red, indicating sustained selling pressure. submitted by /u/Denchock [link] [comments]

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Bloomberg • Silver price rebounds strongly as a fresh escalation in the war between Russia and Ukraine bolstered its safe-haven demand. • Russia hit 14 targets in Ukraine, which resulted in a nationwide blackout. • The US Dollar bounces back as the Fed is expected to cut interest rates cautiously. submitted by /u/Denchock [link] [comments]

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Bloomberg • Gold continues to snake higher on Thursday as markets price in higher probabilities of the Fed cutting interest rates in December. • A softening of Trump’s rhetoric on tariffs is a possible factor in the falling interest rate expectations. • XAU/USD is technically crawling up a major trendline but remains vulnerable to further breakdowns. submitted by /u/Denchock [link] [comments]

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Bloomberg: US Dollar Index Technical Analysis: Concerns on France fuel the Greenback The US Dollar Index (DXY) might be moving in the coming two days due to some outside forces. One driver could come from the Eurozone, where France’s budget hangs in the balance. Should the balance not pass Parliament, France’s yields and spreads with other European countries could get out of control and trigger uncertainty for the Eurozone and the Euro (EUR), thus making the US Dollar (USD) outperform the shared currency. With the profit taking this week, the pivotal resistance of 107.35 (October 3, 2023, high) became active again. The fresh two-year high at 108.07 reached last Friday is the level to beat further up. A brief spike to the 109.00 big figure level could play out in a volatile moment. The DXY is bouncing off from 105.89, a pivotal level since May 2, which was held under profit-taking pressure on Wednesday. A touch lower, the pivotal 105.53 (April 11 high) should avoid any downturns towards 104.00. Should the DXY fall all the way towards 104.00, the big figure and the 200-day Simple Moving Average at 104.02 should catch any falling knife formation. submitted by /u/Denchock [link] [comments]

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Technical Analysis: Pound Sterling ticks lower after failing to recapture 1.2700 Bloomberg: The Pound Sterling falls to near 1.2650 against the US Dollar in European trading hours on Thursday. The GBP/USD pair corrects after posting a fresh weekly high near 1.2700 the prior day. The recovery move in the Cable came after it found buying interest near the upward-sloping trendline around 1.2550, which is plotted from the October 2023 low around 1.2040. The 14-day Relative Strength Index (RSI) rebounds after turning oversold. However, the downside bias remains afloat. Looking down, the pair is expected to find a cushion near the psychological support of 1.2500. On the upside, the 20-day Exponential Moving Average (EMA) around 1.2725 will act as key resistance. submitted by /u/Denchock [link] [comments]