Currency Trading Tips: The Australian dollar held its ground on Friday, lifted by a rebound in global stocks and unfazed by a firmer U.S. dollar on the back of growing expectations that interest rates there will be on hold for longer.
Currencies
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Government Steps Up Currency Notes Printing Amid Cash Crunch
Gold Silver Reports (GSR) – Government Steps Up Currency Notes Printing Amid Cash Crunch — There is a spurt in currency demand, Economic Affairs Secretary Subhash Garg told reporters today. Additional cash is being supplied to meet the demand and Rs 500 currency notes worth Rs 2,500 crore are being printed every day, he added. That adds up to Rs 70,000-75,000 crore worth of notes in a month. Banking Secretary Rajiv Kumar had indicated earlier in the day that there is a shortage of Rs 500 notes in the system which will remain for five to seven days.
China Foreign Reserves Rise on Yuan Gains
Gold Silver Reports (GSR) – Reserves rose $8.34 billion to $3.143 trillion in March from the previous month, the People’s Bank of China said Sunday. That was slightly below the $3.146 trillion estimate survey of economists. The March figure marks a turnaround after falling in February for the first time in 13 months. The State Administration of Foreign Exchange expects the country’s foreign reserves will remain stable.
Dollar Rebounds Awaiting Fed Minutes – Goldman Neal Bhai Reports INDIA
The USD rebounded against on Tuesday with North American markets coming out of a long weekend. The correlation between rising US bond yields and currency strength had broken down this year, but it now back on track with the 10 year Treasury note hitting a 10 year high driven by higher inflation expectations. The Fed has been divided internally on how to proceed in a slow inflation environment, but if prices suddenly accelerate there will not be need for debate with a higher pace of interest rate moves expected from the central bank.
Dollar Slide Deepens as Euro Strength Saps Stocks
Gold Silver Reports – ⭐⭐⭐⭐⭐ Dollar Slide Deepens as Euro Strength Saps Stocks – Despite a U.S. holiday, the dollar dominated trading on Monday as it headed for a fourth day of declines, weakening against every major-currency. The euro’s jump weighed on European stocks, while gold gained.
All you Wanted to Know About Bitcoin, the most Popular Cryptocurrency
Gold Silver Reports – All you Wanted to Know About Bitcoin, the most Popular Cryptocurrency – Whether you go for a game night at your friend’s house or are relaxing with friends after work, invariably someone will be talking about the next big investment option. In the past, these discussions were around real estate, stocks, even gold. Now, all such talk is about cryptocurrencies.
IS IT A GOOD TIME TO INVEST IN CRYPTO CURRENCIES?
Gold Silver Reports – Bitcoin, one of the most popular crypto currencies has witnessed volatile bouts in the last one year. If you are planning to invest in such crypto currencies, you should keep the following points in mind.