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Whether you’re after the latest updates from the world of cryptocurrencies, global markets, brokers or exchanges, AskTraders news has you covered. Our pages are updated regularly throughout the day to keep you up to speed with the current trends and movements affecting the financial world. AskTraders news is your one-stop portal for all the stories the markets are talking about. Remain one step ahead of the market with our browser alerts service.  Simply click the red bell to subscribe for breaking news straight to your desktop.   Our Contributors

Euro – exactly how ‘over-valued’ is it? Or was it?

Euro weakness to USD has been a notable trend for 2019 Price action is reaching a point where continuation of the trend might be confirmed – or not. The euro is continuing its year-to-date downward movement against the USD with its trading channel now well established. EURUSD – Price chart – Year-to-date: According to Investing.com, the daily ‘technicals’…

Does Facebook’s Libra now have competition? Binance has Project Venus

Binance, the world’s large crypto exchange by volume, has announced its Project Venus, which, amazingly enough, appears to aspire to the same payment platitudes that accompanied the announcement of Facebook’s Project Libra. Venus is meant to be a vehicle to develop and encourage the use of a variety of stablecoins to revolutionize the financial payments landscape, based on…

JD.com (NASDAQ:JD) joint venture Dada-JD Daojia targets US IPO in 2020

Chinese online supermarket in early talks with bankers to raise $500m in May next year Looking to capitalise on strength of e-commerce sector, which is a bright spot amid China’s economic weakness Final decision about US exchange venue and how much to list for yet to be made Chinese supermarket Dada-JD Daojia is targeting an initial public offering…

WeWork releases IPO details – sideways glances from market analysts

WeWork pencils in an IPO for Q4 2019 Would likely be the second largest IPO of the year (second to Uber) ‘Quirky’ aspects of the business model are being highlighted and criticised by some quarters of the market The news that WeWork continues to progress towards issuing an IPO is finding little support. Industry opinion ranges from, “WeWork…

Big Money Boys are targeting Bitcoin, while some are in the pool now

Discussions these days around the water cooler for large institutional investors are no longer asking what is Bitcoin. The entire tenor of the conversations has morphed in a single year into a much broader context. The questions are now more likely about when and how do we jump into the market, how do we protect our interest, and…

Classic car auction runs out of gas – the start of a major correction?

Headline lot at Monterey Car Week auction fails to sell Over 100 cars were expected to sell for $1m or more, but flagship 1939 Porsche ‘Type 64’ failed to meet reserve A ‘technical error’ is blamed for the bidders falling away The more cynical might interpret this as a sign of weakness in the market Total sales significantly…

Bitcoin refuses to buckle to recession fears – Weekend trading nets $10,400

Recession fears ripped through global financial markets at the end of last week, as the dreaded interest yield inversion took place between 10-Year and 2-Year Treasury instruments. For those that have missed the preponderance of articles in the press on this topic, this “inversion”, the point at which 2-Year yields exceed 10-Year yields, has accurately predicted every one…

The week ahead – ‘Don’t be fooled by a light calendar’

The summer break is still on ice Given current market uncertainty, the relatively low number of data releases could have more impact than normal Market volatility has picked up Index CBOE VIX at 18.47 With increasing global growth worries and ongoing trade tensions, this week might be an important one The CBOE VIX Index has lived up to…

Strong gaming revenue helps Nvidia (NASDAQ:NVDA) to Q2 earnings and revenue beats

GPU designer and maker posts $1.24 Non-GAAP EPS and $2.58bn revenue versus $1.15 and $2.55bn estimates Expects $2.9bn revenue, 62–62.5% gross margins in fiscal Q3 Analysts say Nvidia performed well in a challenging environment, gaming offset data centre weakness Shares rise 8% on Friday, company valued at around $98.2bn Nvidia Corp. (NASDAQ:NVDA) said it was “happy” with its…

Steve Miley’s What to Watch This Week – 19th August

Global financial asset clauses are still at the whim of the trade war between the US and China, with volatile price action continuing to dominate across financial markets. Mid-August has seen frequent leaks, rumours and statements from both the China and the US, snowballing the market volatility evident since the latest bout in the conflict from early August.…

Bakkt crypto exchange to launch BTC futures contracts 23 September

It’s official! At long last, we finally have a date that the much anticipated and much delayed BTC Bakkt futures exchange will launch – 23 September 2019. Yes, at long last, the winner to cross the finish line first to offer “physically-settled” futures contracts will be none other than Bakkt, the brainchild of International Exchange Inc. (ICE), the…

Hong Kong / China – something for the weekend?

After a week of protests escalating on both sides of the dispute, Hong Kong braces itself for the weekend Protests have escalated over the last month, the weekend is a time when momentum has built Hong Kong growth estimates are downgraded The consequences for the wider global economy are harder to gauge Markets will likely reopen on Monday…

Major Chinese Bitcoin Ponzi scheme comes to light – $3 billion being sold

Tales of Ponzi schemes that are perpetrated upon Chinese citizens often escape mainstream news channels, but news travels fast when $3 billion is at stake. Yes, that figure is correct, based on a confession to Chinese Police by one of the insiders of, perhaps, the largest Initial Coin Offering (ICO) fraud on record. The “insider” that was recently…

Walmart (NYSE:WMT) – shares up 5% after earnings and revenue beats hiked FY profit guidance

Retail corp posts $1.27 Non-GAAP EPS and $130.4bn revenue versus $1.22 and $128.6bn consensus Comparable sales grow (+2.8%) for 20th straight quarter, e-commerce business strong Hikes FY2020 adjusted EPS guidance Shares advance 5.7% on Friday, biggest gain since August 2018 Walmart Inc (NYSE:WMT) gave the retail sector a welcome shot in the arm on Thursday after posting better-than-expected…

Oil – news and data reports drive prices lower

Price volatility picks up as oil trades mid-channel Demand and supply factors apply bearish pressure Downward trend forming (weekly timeframe) The extra volatility opens the door to trading oil-based equity pairs The price of oil continues to fall as a combination of factors impact both supply and demand. For much of 2019, it has been trading in a…