On Wednesday Ripple is continuing its several-days-long growth and is now aiming to become one of the most rapidly growing cryptos. Meanwhile Asian markets are showing teeth and growing which isn’t good for the greenback. In it’s turn Europe seems to have finally found it’s financial luck once again.
Ripple is gaining weight.
While financial world is still trying to come to senses after Bitcoin crashing lower than $10.000 there is one stubborn crypto which is refusing to fall down.
XRP/USD financial couple is gaining more weight and seems to come on track as one the fastest growing cryptos at the market. In the last 24 hours Ripple’s exchange rate has grown by 10% which brought an enormous joy to the owners of the coin.
Although the traders who are tied to Ripple have a warning – they say that the price is now just at the cross of the pegging piece and the downline.
Asian stocks on the rise.
Asian market is climbing higher and higher while the speculations are taking greenback lower and lower.
As dollar keeps hitting new lows Asian market is gaining all time highs. Most of Asian stocks have grown 5-10 percent since the beginning of 2018.
The biggest index of Asia-Pacific shares (excluding Japan) MIAPJ0000PUS has jumped by 1.2% in the last 48 hours. Chinese blue-chip CSI300 index CSI300 is down by 0.3%, but it has been showing growth and is up by 8% since the beginning if the year.
Japan’s situation is also looking good. Nikkei 225 has taken a small hit that cost 0.6% of the price, but yen has risen up.
Japan’s export is showing growth 13th month in a row and the manufacturing volumes are at their biggest for 4 years with high demand coming from Asia.
Europe is gaining financial stability
In the time span of the last couple of years Europe became a target for various problems. And all of them are very different. EU is going through a tough “break up” with Great Britain, economic growth seemed to have slowed down and the Union has a war conflict right next to the border (unannounced war between Russia and Ukraine). And the problems didn’t seem to stop there. But it seems like the changes are not so far away.
These days the economic forum in Davos (Switzerland) is taking place. It is the main event of the whole economic world. It is an annual occasion and this year’s main event is to become the speech of Donald Trump. But those who didn’t come to forum from across the ocean are interested in whether Europe is going to get its’ mojo back.
Carlyle Group’s founder David Rubenstein has said that “Europe, many thought was dead and gone years ago, but despite Brexit, the problems in Spain, the weakened German government, a new French government, Europe has done quite well economically. It’s a very attractive place to invest.”
This year’s Davos attention is quite unprecedented for the last decade. Just several years ago there were talk all over the world that European Union was going to break apart and all the countries will face horrible economic crisis. But the predictions of all the sceptics did not come to life.
Instead of a horrible fall-apart Europe seems to experience the best economic development in a decade. The growth that started in 2017 is still ongoing. New French President Emmanuel Macron seems to have shaken up the situation in the region. He has new and fresh outlook on domestic and international politics and collaboration with the neighbors.
Blackstone Group LP Chief Executive Officer Stephen Schwarzman agrees with Mr. Rubenstein. He said that “Europe has awakened”. The next bit hit to Eurozone may come in 2019 when the head of European Central Bank Mario Draghi is going to retire. Until then there is hopefully nothing to shake united European currency.
