Markets News 

Currencies in paralysis as trade ‘headline fatigue’ sets in

“Keeping hopes for a breakthrough in trade talks alive were comments from a Chinese commerce ministry spokesman, who said on Thursday that China will try hard to resolve the dispute” reports cnbc.com. U.S. dollar bank notes are arranged for a photograph on September 7, 2017 in Hong Kong.It was marginally weaker against the euro at $1.1061, flat on the Antipodean dollars and steady against a basket of currencies at 97.958.China’s yuan, which is highly sensitive to trade news, was stable at 7.0313 per dollar. Source: cnbc.com

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Crypto News 

Card Accepts Crypto Top-Ups, Can Be Used in ATMs and Stores Worldwide

“Co-branded with Mastercard and UnionPay, card owners can top up using a plethora of digital currencies, including Bitcoin, Ethereum and Litecoin” writes Connor Blenkinsop for cointelegraph.com. A payment platform is offering a new prepaid card that can be used at ATMs, stores and websites worldwide — and topped up via bank transfers or cryptocurrency.It could also help demystify coins and tokens in the eyes of the public, who often regard digital currencies as complicated and high-risk. Source: cointelegraph.com

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Crypto News 

Stable Currencies Company Coin Shares Releasing New Gold-Supported Token

“Based in London, Coin Shares is a company that specializes in stable coins” writes Nick Marinoff for livebitcoinnews.com. Less often do we encounter coins backed by precious metals or similar commodities, and Coin Shares Group is looking to change that.Currencies such as bitcoin, Ethereum, bitcoin cash and Litecoin, for example, are all more mainstream than your standard stable coin.Over the past few years, the world has experienced a surge in stable coin popularity.As it stands, more than a dozen gold-backed cryptocurrencies exist within the space, and Coin Shares’ new product…

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AUD Markets News 

USD the strongest and AUD the weakest currency on continued risk off theme

“This is a fragile risk off market and traders need to remain aware, I know it is frustrating, of the potential for risk to flip on an US-China trade news headline” reports forexlive.com. The risk off tones have led to bids in the USD. The AUD, NZD and CAD currencies are all weak as you would expect in a risk off market. Source: forexlive.com

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News 

What you should know about currencies and foreign exchange while travelling

“Let exchange rates determine whether or not you prepay for hotels and other services” writes Brand Name for mashable.com. This practice, however, can leave you vulnerable to costs from shifting exchange rates.You can buy and load them quickly while locking in favourable exchange rates.Some cards come with the flexibility to take advantage of changing exchange rates. Source: mashable.com

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Crypto News 

Explainer: Central bank digital currencies – edging toward reality?

“Here are some key questions on the rise of central bank digital currencies (CBDCs) and their progress in entering the mainstream” writes Midwest Communications Inc for 95kqds.com. Bitcoin and other virtual currencies, hampered by wild volatility, have presented few realistic threats to central bank control over money.CBDCs are traditional money, but in digital form; issued and governed by a country’s central bank. Some households and companies, it thinks, would hoard traditional cash to avoid being charged for holding digital currencies if central banks were to issue and apply negative rates…

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News Regulators 

Alarmed by Libra, EU to look into issuing public digital currency: draft

“The social media firm said in June it planned to launch its Libra digital currency next year” writes Min Read for reuters.com. ECB board member Benoit Coeure said in September the bank should “step up” its thinking on a public digital currency.BRUSSELS (Reuters) – The European Central Bank should consider issuing a public digital currency, an EU draft document said, after plans by Facebook to introduce a private one met with a hostile response from global regulators.Digital currencies like Libra – also known as stablecoins – are usually backed by…

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Crypto News Stocks 

China state paper urges calm after blockchain stocks, bitcoin soar

“Xi said last week that China should accelerate the development of blockchain technology, a digital ledger that forms the backbone of many cryptocurrencies such as bitcoin” writes Min Read for reuters.com. Chinese officials, however, said at the time that research into blockchain technology was still encouraged although Xi’s comments were the first time Beijing had publicly thrown such support behind the sector. Beijing is also creating its own central bank-issued digital currency to cut the costs of circulating paper money and boost policymakers’ control of money supply.SHANGHAI (Reuters) – Chinese…

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News 

Trade optimism supports dollar versus yen

“The dollar was steady against the euro at $1.1094 and more or less flat against a basket of currencies at 97.786” reports cnbc.com. “China-U.S. trade tensions have stopped escalating … the Fed has reasons to sound less dovish on a ‘half-full’ narrative for the U.S. economy.”. U.S. President Donald Trump had said a trade agreement looked to be ahead of schedule on Monday, without detailing the timing.”Global risks remain but have shown signs of subsiding,” Philip Wee, FX strategist at Singapore’s DBS Bank said in a note. Source: cnbc.com

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News 

As Cuba seeks hard currency, dollar stores reopen after 15 years

“Two currencies, the peso and the convertible peso, which is valued at 24 pesos, circulate in Cuba” writes Midwest Communications Inc for 95kqds.com. People may obtain those tradable currencies through offshore remittances or by other means such as exchanging pesos on the street, the government said.Possession of the dollar and other tradable currencies is legal, but they have previously not been deemed legal tender for purchases.Cubans who buy from the specialist stores need a dollar-denominated bank card from an account opened with tradable currencies, such as the dollar or euro.The…

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