Forex Top Story


unemployment-UK-022118.jpg The UK jobless rate increased for the first time in nearly two years in the fourth quarter and wages grew at a steady pace. The unemployment rate rose by 0.1 percentage points to 4.4 percent in the three months to December, data from the Office for National Statistics showed Wednesday. This was the first increase in almost two years. The jobless rate was expected to remain at 4.3 percent.

Petro-Presale-Raises-022118.jpg The pre-sale of Venezuela's cryptocurrency evoked overwhelming response on the first day, the country's President says. Nicolas Maduro claimed that $735 million was raised within 20 hours of initial sale. Blockchain experts had warned El Petro (the Petro) is unlikely to attract significant investment. Maduro launched El Petro, the first national cryptocurrency in the world, on Tuesday.

EurozonePMI-022118.jpg Eurozone private sector growth continued to be strong in February, albeit with the rate of expansion cooling from the near 12-year high seen in January, flash data from IHS Markit showed Wednesday. The composite output index dropped more-than-expected to 57.5 from 58.8 in the previous month. The score was forecast to fall to 58.4. Nonetheless, a score above 50 indicates expansion.

dailycryptos-022118.jpg South Korea's relaxed stance on cryptocurrencies boosted the sentiment in the market and pushed prices higher. In Japan, there was another mishap at a cryptocurrency exchange that was under the scanner after the Coincheck hack. Venezuela kick-started the sale of its cryptocurrency. And Elon Musk's Tesla fell victim to a "cryptojacking" attack.

Zaif-crypto-Yen-022108.jpg A Japanese cryptocurrency exchange, which is being probed by regulators over security concerns, said it allowed trades for zero yen or free, due to a glitch in its price calculating system. Zaif, a cryptocurrency exchange run by the Osaka-based Tech Bureau Corp, is among the 16 registered exchanges with the Financial Services Authority.

southkorea-cryptos-022118.jpg South Korea apparently relaxed its stance on cryptocurrencies as the country's financial services watchdog said the government will support "normal transactions" in such currencies. The comment by Choe Heung-sik, governor of the Financial Supervisory Service, boosted the sentiment in the market, sending prices of cryptocurrencies such as Bitcoin higher.

EEP15-011515_21Feb18.jpg Flash Purchasing Managers' survey from euro area and unemployment from the UK are due on Wednesday, headlining a light day for the European economic news. At 3.00 am ET, IHS Markit releases France's flash PMI data. The composite PMI is seen at 59.2 in February versus 59.6 in January.

EUR-USD3-022018.jpg The dollar is up against all of its major rivals Tuesday afternoon. Traders are awaiting the release of the minutes from the latest Federal Reserve meeting tomorrow afternoon. Investors will be keeping an eye out for more signals about a possible rate hike in March. There were no U.S. economic reports...

southkorea-tradingrise-022018.jpg The commission-related sales of South Korean cryptocurrency exchanges have increased by about 88 times last year compared to the previous year, a report said. South Korea's Yonhap news agency published government data collected by Rep. Park Kwang-on. Total commission-related sales of around 30 cryptocurrency exchange operators in the country are estimated to have reached 700 billion won last year.

Germaninvestorconfidence-022018.jpg Germany's economic confidence declined less-than-expected in January, survey results from the Mannheim-based think tank ZEW showed Tuesday. The ZEW Indicator of Economic Sentiment dropped to 17.8 points in February from 20.4 in January. Though the score was above the expected level of 16.0, it was below the long-term average of 23.7.

Petro-Venezuela-022018.jpg Venezuela has officially launched the pre-sale of its new cryptocurrency Petro, which President Nicolas Maduro hopes would help ease the country's economic crisis, and circumvent U.S.-led sanctions. "Petro is born and we are going to have a total success for the welfare of Venezuela," State-sponsored Telesur television network quoted Maduro as saying Tuesday. Maduro said it will be a busy day.

crypto-dailyroundup-022018.jpg Bitcoin has staged a strong rebound from the $6,000 low it reached early this month and the sentiment in the cryptocurrency market remains bullish. More on regulation front, Switzerland, which hosts a "crypto-valley", has released new guidelines for initial coin offerings, while the UK central bank chief said Bitcoin failed as a currency.

bitcoin-priceup-022018.jpg The Bitcoin price has stabilized above $11,000 since Monday and is testing key support levels, boosting the sentiment in markets. As of 3.47 am ET on Tuesday, Bitcoin was up 6.02 percent at $11,365.01 on Coinbase. The top cryptocurrency steadily climbed after finding support around $11,400 level late Monday.

MarkCarney-Bitcoin-022018.jpg Bank of England Governor Mark Carney said bitcoin has pretty much failed as currency as its value is unstable and it cannot be a useful way to buy things. "It has pretty much failed thus far on ... the traditional aspects of money. It is not a store of value because it is all over the map. Nobody uses it as a medium of exchange," he told students at Regent's University in London.

EEP12-011515_20Feb18.jpg Economic confidence from Germany is due on Tuesday, headlining a light day for the European economic news.

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