Dollar keeps falling even lower as the U.S officials contradict each other on the question of weak – strong dollar. Litecoin finds new support and China is unveiling plans for the development of a new region.
Trump’s statement has sent U.S stocks even lower.
Just a day after US Treasury secretary has expressed his support for weak greenback Donald Trump has reached out to the public with opposing statement.
Mr. President said that greenback is going to get stronger and stronger and ultimately strong national currency is what he wants to see in the future. This contradiction has shaken the markets up. And not in a good way for the US national currency.
Trump’s words have sent U.S stocks lower and Treasuries higher. Dollar keeps falling just like it did after Mnuchin’s statement about weaker currency. This, however has played a good part in recent Euro’s growth.
The main reason for dollar being so influenced by the recent statements is that neither Treasury Secretaries not Presidents are usually making statements about national currencies so, when that happens markets tend to listen and follow.
All what is left for the brokers and market spectators is to look out for Trump’s keynote speech at Davos Forum on January 26.
Zebpay is going to support Litecoin.
Zebpay – one of the biggest crypto exchanges in India has included Litecoin in the list of coins supported by the exchange. With this around 2 million users have gained access to this digital money.
According to Zebpay’s official statement supporting Litecoin is the first step on the way to renewing the exchange and adding new assets for users to work with, as was promised by Zebpay earlier.
Besides Litecoin Zebpay also started supporting Bitcoin Cash.
Litecoin is the seventh biggest crypto by market cap.
China unveils the plans for “Polar Silk Road”
According to Reuters, State Council Information Office of China has released a paper that encourages commercial trial voyages, way of which is going to be laid through the Arctic. The project has already gained the name of Polar Silk Road.
Even though China is not an Arctic country it has expressed interest towards developing the region and has joined the Arctic Council back in 2013.
China Ocean Shipping Company, the stocks of which have been experiencing a shaky ride for the last three months has already conducted several trial shipments via the North Sea and the results were astonishing – 20 saved days’ worth of time comparing to the regular routes taken by the shipping companies in the region.
Although China’s plans may look good for the inner shipping companies it will be the main reason to worry for the Arctic countries (US, Finland, Denmark (with Greenland), Iceland, Norway, Sweden, Canada and Russia) as they will have to watch out for the China’s activity right next to their borders and main strategic interests.
Paper is also calling for not only developing oil, gas and some other energy sources but also for developing tourism, fishing and various researches in the area. Chinese officials say they will do so with no meddling in other countries’ interests.
Stocks, currencies and crude overview.
Euro is reaching three-year high at $1.2408 mark.
Pound is showing a bit of a descend of 0.7% with the price of $1.4146.
Yen is going very steady costing the same – 109.26 yen per dollar.
Silver is showing very good results having grown more – by 1.36% and is costing $17.5. Gold is still dropping and today costs $1.348.24 per ounce.
WTI oil fell from the experienced gain and costs $65.21 per barrel.
S&P 500 is going in the separate direction from the last 24 hours and has risen up to $2.839.25.
Dow 30 costs 26.392.79 after having gained half a percent of it’s price.
Nikkei 225 is losing the price – $23.631.88 per piece.
