Market updates on September 12
ECB meeting is on the agenda. Will the EUR get weaker?
Digital currencies generally decline
On Tuesday, key digital currencies went down in Asia, with the market capitalization accounting for $181 billion.
As a matter of fact, Bitcoin declined by 1.05% ending up with $5,185.1 having leapt to $5,299.4 yesterday.
Aside from that, Ethereum tumbled by 2.64% hitting $175.89, while XRP declined by 3.29% reaching $0.34981. Besides this, Litecoin decreased by 5.95% concluding the trading session at $85.874.
One of Canada’s leading crypto exchanges, QuadrigaCX was officially found bankrupt right after the court monitor Ernst & Young told that it should be the case earlier in April. Under the federal Bankruptcy and Insolvency Act, as a trustee, Ernst & Young is going to be granted enhanced investigative powers.
Eventually, the crypto exchange owes 115,000 users over $260 million in cash and digital coins, in particular, Ethereum and Bitcoin.
After its creator Gerald Cotton unexpectedly passed away last year in India, the crypto exchange failed to access the money stored in the cold wallets because Cotton turned out to be the only person holding the passcodes.
Additionally, Lithuania’s Ministry of Finance offered legal amendments for operating crypto-related companies.
The given is expected to ensure more legal certainty for the operation of businesses having to do with crypto wallet operators, cryptocurrency exchanges as well as initial coin offerings. The financial watchdogs also intend to come up with requirements to ensure efficient prevention of terrorism funding and money-laundering.
The director of the Finance Ministry's financial market policy department, Sigitas Mitkus told that they’re eager to make a transparent legal environment for depository wallet operators, crypto exchanges and also ICO initiators. They’re also willing to ensure better consumer protection.
Users’ identity is going to be checked before they make use of services if the operation value surpasses 1,000 euros. In fact, the move suggests that Lithuania could become the first country in the world to have recommendations of the Financial Action Task Force implemented.
Similar
The British pound falls further ahead of the Cabinet meeting
The news that opposition lawmakers plan to stop Boris Johnson to leave the European Union without a deal increased the political uncertainties in the UK.
The market awaits NFP
The level of non-farm payrolls (NFP), also known as non-farm employment change will be published on September 6, at 15:30 MT time.
Latest news
5 important events this week will bring us!
Pay attention to the FOMC meeting, where the rate cut is expected. Also, it is recommended to keep an eye on the oil prices, updates on trade talks between the USD and China and, of course, Brexit.
Market updates on September 13
The retail sales for the US in focus today
"Buy the rumor - sell the fact" action for USD/TRY
During today's Turkish central bank meeting, the market anticipated a rate cut between 200-300 pips.
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