Source: PaxForex Premium Analytics Portal, Fundamental Insight Ripple continues to struggle as its legal battle with the US SEC continues. On December 22nd 2020, the SEC filed a lawsuit against Ripple and concluded that XRP is an unregistered security under federal law. It plunged the XRP/USD from its 2020 peak of just shy of 0.7800 to below 0.200 before regaining its footing. Following the lawsuit, many cryptocurrency exchanges delisted XRP to remain compliant and keep their operating license. Ripple also lost sponsorship contracts, and...
Source: PaxForex Premium Analytics Portal, Fundamental Insight Being the second-largest U.S. bank, Bank of America was hit along with the rest of the industry, as the economy left much to be desired in 2020. But the bank is still well-capitalized, with sufficient leverage to handle even the severest possible scenarios in 2021, and it stands a good chance of returning to growth. Today, we suggest you consider what traders can expect from Bank of America this year. Earnings Increase Bank of America reported a third-quarter net income of...
Source: PaxForex Premium Analytics Portal, Fundamental Insight Japanese Preliminary Machine Tool Orders for December increased by 8.7% annualized. Forex traders can compare this to Japanese Machine Tool Orders for November, which increased by 8.6% annualized. Italian Industrial Production for November is predicted to decrease by 0.4% monthly and by 4.3% annualized. Forex traders can compare this to Italian Industrial Production for October, which increased by 1.3% monthly and decreased by 2.1% annualized. Eurozone Industrial Production...
Source: PaxForex Premium Analytics Portal, Fundamental Insight The past month has been crucial in the development of the Covid-19 vaccine. Pfizer received emergency vaccine approval on Dec. 11 for their BNT162b2 serum. Shortly after, Moderna received ECA approval for its mRNA-1273 vaccine on Dec. 18. Currently, thousands of health care workers are already getting doses of those vaccines. However, many other companies in the race for the vaccine have not yet received regulatory approval for their developments. One of them is Johnson &...
Source: PaxForex Premium Analytics Portal, Fundamental Insight Most assets rallied in the first week of 2021 when most professionals remain on extended holidays. The first trading day saw a massive sell-off, which ended in a four-day rally. Traders continue to hope for stimulus packages out of the US and EU while ignoring the mounting risks to the global economy posed by the deb-funded programs. The bailouts of the 2008 global financial crisis never healed the economy, as evident by the fear of central banks to normalize the interest rate...
