As markets open on Monday oil prices sink, dollar tries to regain its strength and biggest crypto exchange in Japan fell victim to the biggest hacker attack of the crypto world.
Trump’s speech at Davos was all about America.
Having taken the floor at Davos Economic Forum on January 26, Trump was not shy in telling that America is the best country for business right now.
Mr. Trump was not a President behind the stand. He was a businessman. He tried to assure the CEOs from all around the world that his “America always first” policy is actually good for the world and that it will bring more good to those who decide to cooperate with USA.
“When the United States grows, so does the world. American prosperity has created countless jobs around the globe and the drive for excellence, creativity and innovation in the United States has led to important discoveries that help people everywhere live more prosperous and healthier lives.”.
Trump also mentioned the profits that American economy is going to make in the next 5 years thanks to the biggest company in the world – Apple, as if saying – we will benefit from you, but we are going to provide you the best conditions for growth. We are the first economy of the world.
Whether that will have any effect on the dollar strength that is for now nowhere to be seen is for the future to decide.
Dollar is pulling up, but not flying.
On Monday greenback is struggling but is still pulling up after hitting three-year lows for nearly sex weeks in a row. Today its index against six major currencies is rising up to be 89.215 against previous mark having been left at 88.429.
On Friday domestic US consumption and capital spending numbers were not high enough but still they helped the GDP index to be as high as the dollar demanded to show stronger results.
But still traders do not expect dollar to show strong and concrete results as American President Donald Trump is feared to try and use his monetary policy as a pressure device to scare other countries into cooperating.
US national currency also seems to be losing its attractiveness for the investors as the short-term interest is not as good in America as in, for example, Europe where the Central Banks are not nearly as hard on monetary policy as in the USA.
NEM heist from the biggest crypto exchange of Japan.
Over the weekend hackers have stolen from the biggest exchange of Japan around $530 million worth of NEM crypto – 10th biggest crypto by the market cap to this moment.
The officials of Coinchange have already acknowledged that the attack wasn’t noticed right away as a result the reaction wasn’t proper – only 8 hours in the security breach it became obvious that the exchange was hacked. During this time the unnamed attackers have transferred the coins.
But the exchange decided not to let their users pay for the lack of hot-wallet-security. The official statement, made by the Coinchange officials says that $400 million will be returned to the users from exchange’s or the officials’ own pockets.
Oil prices are dipping.
Despite oil prices falling lower as the market day began on January 29. Despite this market remained quite strong because of the high demand.
Brent is holding its position at $70 per barrel although it did fall down by $0.19 from the last market closing.
UD WTI crude is up by 5 cents at the price $66.19.
Market is quite demanding these days due to high demand. This is easily proven by the numbers – since the middle of 2017 US output alone has grown by 17%. It is expected that the numbers will fly above 10.000.000 million barrels per day.
With this prediction US is still the first in the world but Russia and Canada are also rising up to the demand with Canada daily output having risen to 335.000 barrels per day.
Although some experts say that towards the end of the year the market will become overwhelmed with the supply and it is highly likely that the process will plummet.
