FXBrokerFeed Reports on Libra Eurozone Prohibition and Gold Market Glitter

The third week of September 2019 beheld shrinking prospects of Facebook’s Libra cryptocurrency as both Germany and France rejected its operational launch in the Eurozone.

Ontario, Canada - September 21, 2019 /NewsNetwork/ —

The third week of September 2019 beheld shrinking prospects of Facebook’s Libra cryptocurrency as both Germany and France rejected its operational launch in the Eurozone. Also, the much awaited FOMC rates cut was received with cautious optimism that spiked choice for gold as a stable asset. Forex Broker comparison service FXBrokerFeed brings you the latest swings and shifts in the FX Broker Market, featuring FOMC hawkish rates action and a growing preference for gold.

Eurozone Rejection of Libra

French Finance Minister Bruno Le Maire and his German counterpart Olaf Scholz announced a categorical rejection of Facebook’s Libra cryptocurrency operating in Europe. The announcement coming on the sidelines of the EU finance ministers meeting in Helsinki was telling.

“We are both deeply convinced that the currency matters should remain in the hands of government,” “This is a matter of sovereignty,” said the ministers.

Facebook’s and WhatsApp’s cumulative total of 2.4 billion and 1.3 billion users respectively has spooked many governments into action. The ministers claimed that Libra posed serious risks for a stable EU economy in terms of money laundering, terrorism financing, and data vulnerability.

FXBrokerFeed notes that many countries are scripting cryptocurrency regulatory frameworks, directing central banks to embrace blockchain technology, and develop state backed cryptocurrencies to combat the aggressive charge from private sector players.

Golden Market Shine

Gold is gradually gaining from risk aversion as a slowing global economy induces currency volatility while FOMC, and other central banks continue to lower benchmark interest rates.

Also, both the price for gold and Relative Strength Index (RSI) indicated a bullish formation with a Monday gain of 0.8% that ticked $1,514 per ounce. However, not so dovish FOMC sentiments saw prices drop by 0.21% on Thursday to trend at around $1,483.

FXBrokerFeed contends that the US/China tariffs stalemate, ramped up geopolitical tensions in the gulf, and destabilized crude oil supplies leave gold a stable investment asset of choice over volatile currencies in the mid-term.

Traders can take advantage of FXBrokerFeed’s 30-day free trial and register here: https://fxbrokerfeed.com/register-now/.

Contact Info:
Name: FXBrokerFeed
Email: Send Email
Organization: FXBrokerFeed
Address: 45 West Wilmost Richmond Hill, Ontario, Ontario L4B 2P3, Canada
Website: https://fxbrokerfeed.com/

Source: NewsNetwork

Release ID: 88921081

More News From Enter Hollywood

Seoul unsure if North Korea will air World Cup qualifier

Jun 2, 2020

SEOUL, South Korea — South Korea said Thursday it's unclear if North Korea will allow a live broadcast when it hosts the South's national soccer team for a World Cup qualifier in Pyongyang next Tuesday. Seoul's Unification Ministry, which deals with inter-Korean affairs, said the North has been ignoring South Korean calls for discussions on broadcasting the game live and allowing South Korean spectators to attend. "There has been no particular progress on the issues of (sending South Korean) cheering squads or providing broadcast coverage, so they won't be easy," since there's only a few days left until the game,...

Pell's appeal pitted word of former choirboy against priest

Jun 2, 2020

CANBERRA, Australia — Cardinal George Pell's appeal against his convictions for child molestation was largely a question of who the jury should have believed, his accuser or a senior priest whose church role was likened to Pell's bodyguard. Pell's accuser was a 13-year-old choirboy when he alleged that he was abused by then-Melbourne Archbishop Pell at the city's St. Patrick's Cathedral in December 1996 and February 1997. Monsignor Charles Portelli was a master of ceremonies at the 11 a.m. Sunday Masses where the choir sang. A chorister in the 1990s, David Dearing, told police that Portelli, Pell's right-hand man, was...

Chinese pop stars publicly back Beijing on Hong Kong

Jun 2, 2020

HONG KONG — At least eight pop stars from mainland China and one each from Taiwan and Hong Kong are publicly stating their support for Beijing's one-China policy, eliciting a mixture of disappointment and understanding from fans. Many of the statements came after protesters opposed to Beijing's growing influence over semi-autonomous Hong Kong removed a Chinese flag and tossed it into Victoria Harbour earlier this month. Lay Zhang, Jackson Wang, Lai Kuan-lin and Victoria Song were among the K-pop singers who recently uploaded a Chinese flag and declared themselves as "one of 1.4 billion guardians of the Chinese flag" on...

The Latest: Concerts canceled over Hong Kong airport protest

Jun 2, 2020

HONG KONG — The Latest on Hong Kong protests (all times local): 7 p.m. At least three concerts by overseas performers have been canceled in Hong Kong as protesters forced the city's airport to suspend operations for a second day. K-pop star Kang Daniel and Scottish band CHVRCHES both announced Tuesday that they are calling off upcoming events. American singer-songwriter Alec Benjamin canceled an upcoming concert late Monday. Kang's management office said the cancellation of a fan meeting scheduled for Sunday was because of safety concerns related to the protests, while CHVRCHES blamed "unforeseen circumstances." The airport protests are the...

China bans movies, actors from prominent Taiwan film awards

Jun 2, 2020

BEIJING — China said Wednesday it was banning Chinese movies and actors from participating in Taiwan's Golden Horse Awards, one of the Asian film industry's most prestigious honors, as Beijing ramps up economic and political pressure on the island it claims as its own territory. The one-sentence announcement on the microblog of China Film News, a newspaper affiliated with government film regulator, gave no reason for the suspension, but it comes amid rising tensions over Taiwan's refusal to recognize being part of Chinese territory to eventually be brought under Beijing's rule. Even without the ban, Chinese artists might have found...

Sign up now!