How Modern Traders Stay Informed

How Modern Traders Stay Informed

Trading markets today move more quickly than ever before. Whether in forex, cryptocurrency, stock exchanges, or anywhere else where significant activity takes place, traders need to be engaged if they’re to take advantage of movement. Partly, this means staying available to trade whatever market is at hand during peak hours (or at least those most relevant to the trader’s portfolio). However, it also means that it is now more necessary than ever for traders to stay informed.

With that in mind, here are some of the ways in which today’s traders are staying on top of the latest information pertaining to their respective markets.
Apps & Alerts
When we say that traders are using apps and alerts to stay informed about the markets they’re concerned with, it’s important not to confuse the idea with app-based trading. This is a growing practice, and while it can be very convenient for experienced investors, it can also be problematic to newcomers. Just last year in fact, BBC News covered “newbie investors” who had turned to online brokers (including apps like Robinhood) to trade during the pandemic. Many of them lost money, and quickly. By contrast however, using apps and device alerts for news is a risk-free practice that traders can use to stay about as update as possible on the markets. Up-to-the-minute news can be the difference between a successful trade and a missed opportunity, and having a few reliable financial news and market alert apps set up helps to bring this sort of news about.

Television News
Between heavy reliance on computers and mobile devices, and the rise of streaming, there’s a sense among some that traditional TV news is almost becoming somewhat old-fashioned. And yet, this is still the avenue by which many inform themselves about the world on a daily basis. According to a Gala Bingo post that delved into Brits’ favourite daytime TV in fact, This Morning ranked as the most popular show on television. Granted, this is as much an entertainment and lifestyle programme as anything else. But it’s morning news too, and its popularity is an indication of just how many people still look to TV for news. Among them are plenty of traders who take in both general news and market updates from favourite programmes, and use the information to inform investing decisions.
Podcasts
In a broad sense, finance has become an exciting emerging category in the podcasting world. There are finance-related programmes on entrepreneurship, the broad financial landscape of the day, general financial management, and so on. But the first podcast listed — “The Making Cents Podcast” — is an example of the sort of thing that’s particularly useful to traders. This pod and others like it break down day-to-day events in the financial world and in news more broadly, discussing what the events mean and how they impact markets. Finding a go-to podcast of this nature can certainly keep a trader well informed on major events.

Chart Signals
Plenty of traders also look to the markets themselves, staying informed via patterns and chart signals rather than news. Ideally, it’s best to take in a combination of information — absorbing news relevant to markets, and reading patterns to see if it lines up with what said news might suggest. But it doesn’t always work out so neatly, and being able to read and interpret the charts is in and of itself a very valuable skill for modern traders operating in high-speed environments.

Any combination of these methods can help traders to stay on top of information that affects the markets they’re invested in. Naturally though, the more engaged a trader can be with multiple sources of news and indicators, the better.

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Global Yields Continue To Rise As the EURO Tries To Return

Global Yields Continue To Rise As the EURO Tries To Return

Rising global yields remain in the spotlight today, with Germany’s 10-year bond yield hitting -0.234 and the UK 10-year bond yield hitting 0.818. Earlier in Asia, Japan’s 10-year-old JGB yield closed at a high of 0.152. The 10-year US yield is also trading above 1.45.

In the foreign exchange markets, the euro is trying to return today and is currently trading as the strongest, followed by the Canadian and then the Australian. The yen and Swiss franc remain the weakest, while the sterling softens as the recent rally seems to be exhausted.

Monthly flows are cited as the main factor behind Thursday’s movement in favor of the euro and against the US dollar. The euro also appears to be gaining some support from other crosses, most notably the EUR/GBP, which bounced more than 70 pips in a day to 0.8675 areas, a decent recovery from Wednesday’s lows below 0.8550.

Apart from the above, there is no clear fundamental reason why the euro should perform so well on this day. European bond yields are rising, but to the same extent as US bond yields, which means that the yield spreads on US and European bonds have not changed as much. Either way, this is not enough for forex traders to fuss about.
European Central Bank (ECB) Monitors Longer-Term Nominal Bond Yields
The indicator of economic sentiment in the eurozone in February rose from 91.5 to 93.1. The industry confidence index rose from -6.1 to -3.3. Services confidence fell from -17.7 to -17.1. Consumer confidence rose from -15.5 to -14.8. Confidence in retail fell from -18.5 to -19.1. The employment expectation index rose from 89.1 to 90.0.

In his speech, ECB Chief Economist Philip Lane said: “Ensuring an enabling financing environment is central to recovering inflation and defining inflation expectations.” And “maintaining a favorable funding environment should include performance checks throughout our monetary policy transmission chain.”

Within the broad set of indicators, he said, “the downstream conditions faced by households and firms relying on bank loans play a decisive role.” “Indicators of risk-free OIS rates and sovereign profitability in exploration and production are especially important.”

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India’s Central Bank Ramps-Up Its Intention to Ban Cryptocurrencies in the Country

India’s Central Bank Ramps-Up Its Intention to Ban Cryptocurrencies in the Country

The Reserve Bank of India’s (RBI) distaste for the cryptocurrency industry continues to grow as the apex bank recently expressed its worry about the potential impact of cryptocurrencies on the country’s economy.

At the same time, members of the bank have confirmed that the RBI is planning on releasing a digital rupee.

The bank has harbored its distaste for the crypto industry for years now and moved to prohibit its clients from working with any digital asset representatives in 2018, which was equitable to an outright ban.

Although India’s Supreme Court lifted the ban in 2020, the RBI has doubled-down on highlighting the potential issues from Bitcoin (BTC) and other crypto assets. The latest round of issue-listing recently came from Shaktikanta Das, the Governor of the RBI.

According to Bloomberg, the executive noted that the apex bank has forwarded these concerns to the Indian government. Although he avoided mentioning specifics, he has previously asserted that the alleged use of cryptocurrency for money laundering and other illicit vices has raised several red flags.

RBI Governor Shaktikanta Das. Source: Google

The governor’s comments are coming when the Indian government is seriously discussing placing a ban on all private cryptocurrencies. If approved, the legislation will automatically make the cryptocurrency industry illegal within the borders of India.

A Central Bank-Issued Rupee
While the government of India and the RBI are contemplating ways to eliminate cryptocurrencies from the country, both parties are also making plans of issuing a central bank digital currency (CBDC).

Although no date or specifics have gotten detailed yet, Das has confirmed that the bank is working astutely towards it.

With this CBDC consideration, the RBI has joined the list of other countries racing towards the same goal. Currently, the People’s Bank of China (PBoC) has most likely made the most advancement in this field.

The world’s second-largest economy has produced a beta CBDC, which it has test-run with several people in different regions. According to CNBC, the largest CBDC testing exercise in the country will occur in the southwestern Chinese city of Chengdu this year.

Citizens are encouraged to partake in a lottery for one of 200,000 vouchers, each worth between $27 and $37.

 

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Behemoth Japanese Company Announces Plan to Launch a Joint Cryptocurrency Venture

Behemoth Japanese Company Announces Plan to Launch a Joint Cryptocurrency Venture

SBI Holdings, a Japanese financial conglomerate, has announced that it plans to launch a joint cryptocurrency venture to bolster the company’s earnings capabilities.

According to SBI’s CEO, and founder, Yoshitaka Kitao, the company was in talks with international financial firms to establish a new cryptocurrency business. The recent development is SBI’s latest attempt at expanding its cryptocurrency business arm.

SBI has been active in the cryptocurrency space since 2018 and has recorded some notable cryptocurrency ventures. The company acquired B2C2, a UK-based cryptocurrency liquidity provider, in December 2020 and local cryptocurrency exchange, Tao Tao, some months before then. Also, the company launched a cryptocurrency lending service in November, which helped users borrow BTC, ETH, and XRP.

Meanwhile, Kitao added that the company was still looking out for large-scale mergers and acquisitions, noting that “to become number one in the world, our choice is buying a leading company or creating an alliance with major global companies. Our M&A strategy will not be something like taking minority stakes in many companies.”

Yoshitaka Kitao. Source: Google

The CEO highlighted in his recent comment that the planned venture would be one of SBI’s major earners. He also noted that there were still two other cryptocurrency-related joint venture deals up for discussions, although he refused to mention the names of these potential partners.

Cryptocurrency Investment Is Inevitable
Kitao noted that the increased institutional adoption and investment in Bitcoin (BTC) marked the start of a new era. He stated that gone were the days when people only invested in stocks and bonds, adding that “institutional investors, mainly hedge funds, have recently started investing in cryptocurrencies…Not just institutional investors but also Elon Musk has.”

Meanwhile, SBI is one of the few companies that have stood by and supported Ripple Labs amidst its ordeal with the US Securities and Exchange Commission (SEC). The CEO noted that XRP was not considered securities in Japan, highlighting that he is optimistic Ripple would win the case.

 

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Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.