News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
Wall Street
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here: https://t.co/rz7fqhRoMG https://t.co/lccPTTlvj0
  • GBP/USD’s consolidation could end soon if price breaks out of a symmetrical triangle in play since July. At this time, a downside breakout is likely following the appearance of a death cross. Get your weekly $GBP forecast from @DColmanFX here: https://t.co/WIKdSesfkJ https://t.co/Fx0qr32xgI
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here: https://t.co/kODPAfJE79 https://t.co/IRS9MaA7h8
  • The Federal Reserve rate decision is likely to sway the near-term outlook for the price of gold as the central bank appears to be on track to scale back monetary support. Get your weekly gold forecast from @DavidJSong here: https://www.dailyfx.com/forex/fundamental/forecast/weekly/CHF/2021/09/18/Gold-Price-Outlook-Hinges-on-Fed-Rate-Decision-Forward-Guidance.html https://t.co/dWWxtErjK0
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here: https://t.co/arxYmtQeUn https://t.co/4qxwiJsV1K
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrKWDBY https://t.co/stMPuq0VXR
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/v6RGICQvge
  • Get your snapshot update of the of top level exchanges and key index performance from around the globe here: https://t.co/d8Re5anlG5 https://t.co/rws9LHJV3E
  • RT @FxWestwater: Japanese Yen Forecast: JPY Crosses Eye BoJ, CPI as Haven Flows Bolster Yen Strength Link: https://www.dailyfx.com/forex/fundamental/forecast/weekly/jpy/2021/09/18/Japanese-Yen-Forecast-JPY-Crosses-Eye-BoJ-CPI-as-Haven-Flows-Bolster-Yen-Strength.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr https:/…
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/9S5tXIs3SX https://t.co/FVisZuTP6M
Renowned Investor George Soros Prepares to Enter A Less Volatile Cryptocurrency Market

Renowned Investor George Soros Prepares to Enter A Less Volatile Cryptocurrency Market

Peter Hanks, Strategist

Talking Points:

  • Soros Fund Management has received internal approval and will begin trading the digital coins
  • Plagued with extreme volatility in the past, the recent reduction in volatility is pulling in a new set of traders
  • Cryptocurrencies like Bitcoin have lost nearly 70% of their value since the start of 2018 and continue to decline

Learn the number one mistake traders make when trading. Download our Traits of Successful Traders Guide in the Beginner section of the DailyFX Trading Guides page.

The Soros Fund Management family office has announced they will begin trading and investing in cryptocurrencies. The fund, previously managed by George Soros, oversees $26 billion in assets and received internal approval to trade the digital coins in the last few months. Mr. Soros, who earned the name “The Man Who Broke the Bank of England” has a storied history dealing in currencies. He earned his nickname from his involvement and position in Black Wednesday, September 16th, 1992, when the British Pound was pulled from the European Exchange Rate Mechanism due to heavy downside speculation. Mr. Soros was among those shorting the Pound and walked away from the trade earning $1 billion. His position and subsequent profits added credence to his reputation as one of the premier currency speculator in the world.

The move is noteworthy for a few reasons, primarily due to his reputation and track record in currency markets but also because of comments made in the past by Mr. Soros himself. On January 25th when speaking at the World Economic Forum in Davos, he argued that certain currencies will be propped up by “dictators looking to build a nest egg abroad.” He also previously accused the coins of lacking traditional currency traits, primarily, a stable store of value. Soros argued the coins could never serve as a store of value because of their frequent 25 percent swings in a single day. He also called the coins a “classic bubble.” Since these comments were made, Bitcoin has fallen 41 percent and the market value of cryptocurrencies has deflated by nearly 70 percent from the beginning of the year.

Renowned Investor George Soros Prepares to Enter A Less Volatile Cryptocurrency Market

With their decline, a key criticism of the currencies seems to have been tentatively resolved for those dubious of the market. The asset-specific volatility plaguing the coins with 10 to 25 percent daily price swings have become increasingly less common and subsequently a more tradable environment has emerged. The newfound stability moves them closer to functioning as a stable store of value, something that likely influenced the Soros Fund to enter the market.

If you are looking to follow the cryptocurrency markets, we provide daily updates and analysis. If you are interested in trading Bitcoin, Bitcoin Cash, Ethereum, Litecoin, or Ripple we can help. Download our Introduction to Bitcoin Trading Guide to help you on your trading journey. In addition to these tools, we run a Weekly Bitcoin Seminar and have an IG Bitcoin Sentiment Indicator to help you gauge the market and make more informed trading decisions.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES