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Dollar crashes below 2021 uptrend back to where it began the year.
By Bloomberg News
10 May 2021 06:15
Itâs back to square one for the dollar.
After Fridayâs worse-than-expected US employment data, the Bloomberg Dollar Spot Index slumped definitively out of its 2021 uptrend and is back to little changed for the year. Posting its biggest one-day fall in five months, the greenback is now at risk of a decline toward its lowest since February 2018.
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How Do We Regulate Bitcoin and Other Cryptocurrencies?
The digital currency market is changing so fast that any misstep could be huge.
July 25, 2018 •
(AP) A couple of months ago, in a congressional primary in Southern California, voters were treated to a truly unusual argument. Brian Forde, a former Obama White House aide, received almost $200,000 in donations in the form of cryptocurrencies. One of his opponents, Dave Min, a former enforcement lawyer at the Securities and Exchange Commission, savaged him for relying on “bitcoin speculators that oppose cracking down on drug deals and human trafficking.”
In a flash, the race pulled political campaigning into uncharted and bizarre territory. Min painted Forde as a candidate sidling up to an industry that almost no one really understands. Forde countered that his familiarity with bitcoin placed him on the cutting edge of new and exciting developments. The voters ultimately decid
2. Speculators Curb Net-Long Positions in Corn and Beans Money managers reduced their net-long positions, or bets on higher prices, in corn to the lowest level in almost two months while also lowering their bullish bets on beans, according to the Commodity Futures Trading Commission. Investors held a net-355,499 corn futures contracts as of May 4, down from 362,238 contracts a week earlier, the CFTC said in a report. That’s the smallest such position since March 9. Hedge funds and other large speculators held a net-long position of 162,975 soybean futures contracts last week, down from 168,851 contracts a week earlier, the government said. That’s down from 168,851 contracts seven days earlier.
China bought and cancelled U.S. corn orders. By
5/10/2021 On Monday, the CME Group’s farm markets dip, with investors set to digest a lot of new data this week. A 1-inch-plus rain in the Midwest and Plains states over the weekend is also helping the bears take control today. Plus, the USDA will release its Crop Progress and Supply/Demand Reports this week. At the close, the July corn futures finished 20½¢ lower at $7.11½. New-crop September futures finished 25¾¢ lower at $6.29½. December corn futures closed 27¼¢ lower at $6.09. July soybean futures settled 2¢ lower at $15.87¾. August soybean futures ended 8¾¢ lower at $15.28½. New-crop November soybean futures closed 19½¢ lower at $14.14¼.
SEC Chairman Testifies About Digital Assets Monday, May 10, 2021
In a wide-ranging hearing before the House Financial Services Committee on May 6, 2021, SEC Chairman Gary Gensler addressed a number of SEC regulatory priorities, including the recent short-squeeze on so-called “meme stocks,” gamification of securities trading, broker-dealer payment for order flow, and climate change disclosure. During his first testimony before Congress as SEC chair, Gensler also answered a series of questions on cryptocurrency and digital asset regulation. The statements on crypto regulation begin to shed some light on his official approach to regulating the digital asset security ecosystem.
Responding to questioning from Rep. Patrick McHenry (R-NC), Chairman Gensler said that the cryptocurrency market, which he noted is valued at more than $2 trillion, could benefit from “greater investor protection” under the SEC’s existing authority to regulate securities and asset manage