On an ugly day for markets, here is the S&P 500 level that investors need to keep an eye on, says this trader

Truly Black Friday. Some gloomy headlines greet those investors who do not extend the Thanksgiving holiday to a long weekend, with news of a new COVID variant – B.1.1.529 – found in South Africa. It is the most mutated to date, meaning it could be more transmissible and less effective against variants. This is exactly … Read more

Bitcoin and Ether are rising. India’s crypto ban is perhaps not that bad.

The two leading digital assets rose on Thursday amid optimism that new rules for cryptocurrencies planned by the Indian government would fall short with a direct ban. Both Bitcoin and Ether came under pressure on Wednesday as markets reacted to India’s intention to ban most cryptocurrencies as part of a plan to introduce a digital … Read more

South African rand hits new Covid fear, variant

South African rand. RapidEye | iStock | Getty Images The South African rand fell sharply against the dollar on Friday after a new variant with many mutations was discovered in the country. The currency fell to as low as 16.2391 against the dollar during Asia’s opening hours on Friday and last traded about 1.6% weaker … Read more

Turks switch savings to US dollars when local currency falls

ISTANBUL — The Turks abandoned their local currency savings for US dollars and other foreign currency deposits due to concerns about the country’s faltering economy, which drove the Turkish lira to its worst decline in years. Households increased their foreign currency deposits in Turkish banks last week until Nov. 19 by nearly $ 1 billion, … Read more

Bitcoin and Ether are rising. India’s crypto ban is perhaps not that bad.

The two leading digital assets rose on Thursday amid optimism that new rules for cryptocurrencies planned by the Indian government would fall short with a direct ban. Both Bitcoin and Ether came under pressure on Wednesday as markets reacted to India’s intention to ban most cryptocurrencies as part of a plan to introduce a digital … Read more

Both Bitcoin and Shiba Inu hit as India plans cryptocurrency bans

Text size Cryptocurrencies face a ban in India. Dreamstime Cryptocurrencies were under pressure on Wednesday due to plans in India to make most digital assets illegal. The Indian government wants to ban most cryptocurrencies as part of its plan to introduce a digital currency regulated by its central bank, and has tabled a bill to … Read more

Turkey’s uncertainty leaves little appeal for investors, says strategist

Turkish President Recep Tayyip Erdogan (C) makes a gesture while giving a speech on stage, with on the basis of banknotes of the Turkish lira, during the annual evaluation meeting for the year 2019. Ankara, 16 January 2020. ADEM ALTAN | AFP The unpredictability of Turkey’s fiscal and monetary policy means investors should stay away … Read more

Mark Mobius on weaker Turkish lira investing in emerging markets

Turkey may not be the only country facing a currency crisis given the prospect of higher interest rates in the US, the emerging market emerging investor Mark Mobius said on Tuesday. “Yes, of course it can,” Mobius told CNBC’s “Closing Bell” in response to a question about whether the sharp depreciation seen in the Turkish … Read more

Turkish lira falls after Erdogan defends interest rate cuts

Turkey’s currency crisis intensified after President Recep Tayyip Erdogan defended an unorthodox policy of lowering interest rates to combat rising inflation. The Turkish lira traded at a record low of 12.50 lira to $ 1, after depreciating another 7% on Tuesday. It has lost nearly a third of its value since the beginning of the … Read more

The Turkish lira plunges to historic lows after Erdogan launched the sale

Turkish President Recep Tayyip Erdogan will attend a press conference in Budapest, Hungary, on November 7, 2019. Bernadett Szabo Reuters Turkey’s lira fell to another record low of 12.49 against the dollar on Tuesday, a level that was once unmanageable and far beyond what just last week was considered the “psychological” barrier of 11 against … Read more