The loonie awaits the important release
Canada will release the level of CPI on August 21, at 15:30 MT time.
Crypto assets head south
On Monday, crypto assets dived a bit since reaching a 2019 maximum last Wednesday, reacting to news that Visa is about to launch a crypto card with Coinbase.
The cryptocurrency market paused as traders would like to know if crypto assets are able to keep holding onto their momentum.
Besides this, last Wednesday, the overall crypto market capitalization reached a year-to-date maximum of $186 billion, before rebounding.
The upward trend began in April, right after Bitcoin prices leapt for an unknown reason and digital currencies seem to be holding on to those profits.
Eventually, Bitcoin decreased by nearly 1.2% for the last week hitting $5,144.10, notwithstanding rallying to a 2019 maximum of $5,372 on Wednesday.
For the last week, Ethereum decreased by 6.8% being worth $166.67, while XRP inched down by 8% ending up with $0.32581. As for Litecoin, it sank by 7.5% coming up with a result of $82.54.
The descending move showed up against the backdrop of news that the IMF as well as World Bank are launching a crypto asset to see how alternative currencies work and news that Visa is cooperating with Coinbase to offer a debit card for British users.
The debit card, issued by Visa, will enable Coinbase users to spend their Litecoin, Ethereum, Bitcoin balances. It works by converting crypto assets to fiat currencies when the card is utilized, with the merchant getting the local currency.
In addition to this, the IMF along with World Bank has come up with a so-called Learning Coin that the financial institution will utilize to realize the technology behind crypto assets. In fact, the crypto asset has no monetary value. What’s more, it’s going to be accessible only to the IMF as well as the World Bank.
Similar
Weekly Cryptonews
Cryptocurrencies are going down... What may signal a recovery?
Jobs data for Australia may support the AUD
Australia will release the level of employment change and unemployment rate on August 15, at 4:30 MT time.
Latest news
Crypto assets decline as OECD demands global ICO regulation
On Monday, crypto assets tumbled due to the fact that the Organization for Economic Cooperation and Development drew attention to the necessity of the global regulation of initial coin offerings…
German exporters don’t care about stronger euro
German exporters demonstrate ascending optimism as for their business prospects because growing demand from other euro zone countries helps to compensate worries regarding the strengthening currency, as the Ifo economic institute told on Wednesday…
Japan's October machinery orders tack on
In October, Japanese machinery orders rebounded with a faster soar than anticipated, thus re-affirming the resilience of capital spending, which is a major driver in the Japanese economy's almost two-year expansion…
Deposit with your local payment systems
