The Daily Report and News

Economic World News :

Despite lower U.S. payroll numbers, the dollar surged to its best level in nearly three years against the yen on Monday, as investors remained hopeful that the Federal Reserve will announce a tapering of its large bond-buying program next month. The release of Friday’s jobs report pushed up US bond yields, causing the yen, to fall as low as 112.725 yen per dollar in Asian hours on Monday. 

The Japanese yen was also harmed by a minor shift toward riskier currencies, with sterling and the Australian dollar also gaining marginally against the greenback, leaving the dollar index little changed at 94.154, not far from its one-year high of 94.504 reached earlier this month.

Even as offshore bondholders brace for news on more than $148 million in approaching bond coupon payments after the business missed two penalty deadlines last month, the Chinese yuan was hardly influenced by the continued travails of Chinese developer China Evergrande Group.


The Australian currency strengthened somewhat, approaching its highest level in a month, aided by strong commodity prices and the partial reopening of Sydney, Australia’s largest city.

Inflationary concerns are not restricted to the United States, as supply interruptions and rising commodity prices affect many other countries.

The British pound remained solid at $1.3634, extending its rebound from a nine-month low reached late last month, on rising optimism that the Bank of England will boost interest rates to combat increasing inflation.

The Canadian currency was trading at $1.2466 per US dollar after reaching a two-month high of C$1.24525 on Friday thanks to surprise good Canadian payrolls statistics and high oil prices.

The euro, on the other hand, remained flat at $1.1575, only a touch higher than its Wednesday low of $1.1529, its lowest level since July of last year.

Cryptocurrency News :

Salvadoran President Nayib Bukele has announced on Twitter on October 10 that El Salvador’s state-run Bitcoin trust currently contains $4 million in revenues from the country’s recent Bitcoin embrace.

Bukele stated that a portion of the funding will be used to build a veterinary hospital that will include four surgical rooms, four emergency clinics, 19 offices, and a rehabilitation area. “We decided to put some of that money toward this: a veterinary hospital for our beloved pals,” he explained.

On Monday, the majority of cryptocurrencies were trading down due to reduced trade volumes. Bitcoin, on the other hand, was able to extend its weekly rise into the high digits.

In comparison to the previous day, the global crypto market cap fell little to $2.30 trillion. However, the entire crypto market volume fell by nearly a percent to $97.05 billion.

While global markets were focused on Washington’s debt-ceiling battle this week, Bitcoin quietly surged enough to set it up for its greatest week in months.

The enthusiasm in the cryptocurrency markets appears to be continuing. Over the last 24 hours, the market has provided consistent returns, while major altcoins have found stable support.


The price of Ether (ETH) surged over the immediate resistance level of $3,676.28 today, but the bulls may struggle to keep the price above it. The RSI is near the downtrend line, which may operate as a barrier.


If the price falls from its current level, the 20-day EMA ($3,324) will be the first level of support. A big return from this level indicates that sentiment is still optimistic and that traders are buying on dips.

This raises the possibility of a rally to the hard overhead resistance at $4,027.88. If the price falls below the 20-day EMA, the ETH/USDT pair might fall to the 100-day SMA ($2,899).

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