SUSHI's 24-hour return hit 15.19%. Cool Cats - new branding and airdrop

SUSHI's 24-hour return hit 15.19%. Cool Cats - new branding and airdrop

ByBit Analysis ByBit Analysis 03.02.2023 16:26
Daily Top Mover — SushiSwap (SUSHI)   Stocks surged in the regular session with Nasdaq gaining 3.25% in the aftermath of less hawkish comments from Fed Chair Jerome Powell yesterday. However, corporate earnings from Amazon, Alphabet, and Apple in the post-market trading disappointed the market and caused major indices to give back part of early gains. Meanwhile, the broader cryptocurrency market is mixed, with Bitcoin down by 0.66% and Ether up by 1.23% in the past 24 hours as of the time of writing. The top mover for today, SUSHI, registered a 24-hour return of 15.19%, outperforming the broader market due to the revamped SUSHI tokenomics.      SUSHI is the native token of SushiSwap, the fifth-largest decentralized exchange by TVL. The recent outperformance of SUSHI comes as the community voted to redirect 100% of fees to treasury instead of liquidity providers. As CEO Jared Grey warned of only a 1.5-year treasury runaway left, the Sushi community passed the Kanpai 2.0 proposal on Jan 23, 2023. SUSHI token holders may benefit from increasing treasury in a similar manner to Uniswap’s “Fee Switch”, which aims to direct cash flow to the Uniswap treasury. That said, falling incentives on Sushiswap may lead to an exodus of liquidity providers, in turn, dampening trading interests from investors and weakening future cash flow to SUSHI. Market Check Check Out the Latest Prices, Charts, and Data for SUSHI/USDT!   Talk of the Town     One of the hottest NFT collections Cool Cats, announced new branding and airdrop of Fracture NFTs to existing Cool Cats and Cool Pets NFT holders. The Fracture NFT is different from profile picture NFTs, which will evolve as holders complete missions within the project's "World of Cooltopia" narrative. While the concept is not new with Doodles 2 newly pitching the same evolving NFTs that can be outfitted with virtual apparel, what is unique about Fracture NFTs is the comparability with Layer 1s and Layer 2s, regardless of whether those blockchains are EVM-comparable. Read next: Today's ECB Policymakers Comments Seem To Help The EUR/USD Pair, The Australian Dollar Fall Against Strong US Dollar| FXMAG.COM Check out what else is buzzing in the crypto scene today:   PFP project Cool Cats has announced to airdrop customizable NFTs. (Link) MakerDAO approves $5 Million Legal Defense Fund. (Link) Avalanche rallied following the protocol’s network update called “Banff 8”. (Link) Metis aims to simplify crypto adoption with Banxa integration. (Link) Solana-based DeFi protocol Everlend announces shutdown. (Link) Jack Dorsey-backed Web3 App aims to disrupt Twitter. (Link) Source: Bybit Blog | SUSHI Surges Following Tokenomics Revamp; Cool Cats Airdrops Evolving NFTs
In January, OpenSea reached 1.5M NFT sales on Polygon and 1.1M sales on Ethereum

In January, OpenSea reached 1.5M NFT sales on Polygon and 1.1M sales on Ethereum

Crypto.com Accelerate the... Crypto.com Accelerate the... 03.02.2023 16:18
OpenSea reaches 1.5 million NFT sales on the Polygon network in January. NFTs to help support Japan government’s ‘Cool Japan’ strategy. E-commerce giant eBay continues its foray into NFTs. New Project Spotlight NFT Collectibles [COMING SOON] “Over the border” explores topics centering on love, peace, and equality, to ask questions about what is universal value. This project is created by Yoyojin, an artist who is experienced in animation, documentary, VR, and AR. It drops exclusively on Crypto.com NFT on 6 February 2023. [COMING SOON] “Technological Revolution“ is a collection by Senbenito, a French photographer and artist. Dropping on 10 February, it features a series of photographs which brings the viewer into a dystopian robotic future. Blockchain Games [LIVE] Croskull has launched a new website and the Bonesville Interactive Map 1.0. The interactive page, which represents Bonesville, is a map that enables gamers to travel with their imagination and interact with the various places there. [LIVE]Defira launches a Fruit Picking Quest, where players are able to participate by visiting Defira Farm, and use their heroes to gather ripened Fira Fruit and discover their magical abilities. NFT Metrics The following table shows select top collections (by weekly sales volume on each platform) and a sample of their art: PlatformCollectionSales Volume (USD)Floor Price (USD)Sample OpenSea Sewer Pass $10,309,000(-48%) $3,920 OpenSea CryptoPunks $7,471,000(+67%) $105,400 Crypto.com NFT Loaded Lions $90,900(+17%) $1,500 Crypto.com NFT Crypto.com Land – The First Frontier $38,800(-12%) $60 Minted Eyeball Balldroid Gen 0 $38,600(-44%) $70 Minted Atlantis Planets $30,300(—) $70 As of 3 Feb 2023 Sources: OpenSea, Minted, Crypto.com Research Blockchain Game Metrics GameBlockchain(s)UAWVolumeLogo Splinterlands Hive, WAX 302K(-3%) $5K Planet IX Polygon 128K(+10%) $1.2M Axie Infinity Ronin, ETH 49K(-7%) $23.2M Era7: Game of Truth BNB Chain 41K(-1%) $28K Meta Apes BNB Chain 38K(-1%) $372K As of 3 Feb 2023 Sources: DappRadar, Crypto.com Research Gaming Token Performance The total market cap for gaming tokens now stands at US$8.79 billion, up +10% from last week.     News Highlights OpenSea had a total of 1.5 million NFT sales on Polygon, and 1.1 million sales on Ethereum in the month of January. The high NFT volume on Polygon is driven by brand deals with companies like Meta, Starbucks, and Reddit, as well as game projects. The Prime Minister of Japan has said that NFTs and DAOs could help support the government’s ‘Cool Japan’ strategy, a national initiative to showcase the country’s innovations and culture to the rest of the world. E-commerce giant eBay continues its foray into NFTs by hiring multiple Web3 roles to support their NFT marketplace KnownOrigin. In addition, eBay is partnering with events platform Notable Live to bring limited edition NFTs and player merchandise to its platform.     AI-Generated Content and Applications in Web3: Artificial Intelligence-Generated Content (AIGC) has taken the world by storm recently, with popular applications like ChatGPT and DALL-E. We analyse its potential applications in Web3. Crypto Market Sizing Report 2022: The global number of crypto owners reached 425 million by the end of 2022. After crunching the numbers, this is the result of our highly anticipated Crypto Market Sizing Report for 2022. 2022 Year Review & 2023 Year Ahead: 2022 has been a rollercoaster ride for the crypto industry. In this report, we curate the top ten crypto events and trends of 2022, followed by our outlook for 2023. We’re all ears. Your feedback has always helped us provide insightful crypto market trends. Tell us how we can improve this newsletter further by taking a quick survey below (it will only take less than a minute). Thank you! Take our survey now Disclaimer The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties. This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement. The brands and the logos appearing in this report are registered trademarks of their respective owners. Nothing in this report is intended to suggest that NFTs are investment products, nor securities, nor anything similar or “financial” of any description. NFTs are to be reserved for fun only and NOT with any expectation of “value”, “profit”, “yield” or “investment”. You are also aware that NFTs are not a store of value, are not a generally accepted medium of exchange, and are considered very illiquid and volatile. Authors Research and Insights Team Get fresh market updates delivered straight to your inbox: Subscribe to newsletters   Be the first to hear about new insights: Follow us on Twitter Tags BLOCKCHAIN GAMING CRYPTO RESEARCH CRYPTOCURRENCIES NFT Source: crypto.com
Gold Has A Potential For The Breakout Mode - 03.02.2023

Gold Price Forecast: XAU/USD plummets below $1890 after stunning US NFP report

FXStreet News FXStreet News 03.02.2023 16:16
Gold plunges after a solid January US NFP report. The US economy added more than 500K jobs, and the unemployment rate fell to 3.4%. Gold Technical Analysis: To the upside eyeing $1890, and downwards $1850. Gold price tumbles sharply after the US Department of Labor revealed a staggering Nonfarm Payrolls report that added more jobs to the economy than expected and saw the unemployment rate dip lower. Therefore, the XAU/USD is dropping from daily highs at $1918 and collapsing toward the $1880 area, breaking the 20-day EMA on the way down. US jobs data crushed expectations; further Fed action warranted US equity futures remain negative as Wall Street is set to open in the red. The greenback was lifted by a surprisingly upbeat US Nonfarm Payrolls report for January added 517 jobs in the last statement, raising the buck from its ashes, as the US Dollar Index advanced 0.58% and reached a new two-week high at 102.63. Consequently, the XAU/USD extended its losses below the January 18 daily low of $1896.74 and the 20-day Exponential Moving Average (EMA) at $1891.70. Read next: Michael Hewson ahead of the UK GDP release: What we do know is that any growth is likely to be anaemic, and 2023 is still likely to be very challenging| FXMAG.COM Delving into the data, December’s report was upward revised from 223K to 260K people added to the workforce. Meanwhile, Average Hourly Earnings rose 0.3%in-line with estimates but below December’s 0.4%. The Unemployment Rate dropped from 3.5% in December to 3.4% and pressured the US Federal Reserve (Fed), as a tight labor market could cause another spike in inflation. In the bond market, US Treasury bond yields, mainly the 10-year benchmark note rate, climbed 12.5 bps to 3.521% after falling towards a monthly low of 3.334% on Thursday. Ahead into the calendar, the ISM Non-Manufacturing PMI is expected to improve, while the S&P Global Services and Composite PMIs are also headed toward a slight recovery. Gold’s Technical Analysis After the NFP report, the XAU/USD dropped from around daily highs and is trapped within the 20-day EMA and the 50-day EMA, each at $1891.70 and $1854.99. An extension below the 50-day EMA would put in play the December 27 daily high-turned-support at $1833.29 before Gold can challenge the 100-day EMA at $1812.11. On the bullish side, XAU/USD needs to reclaim January’s 18 swing low of 1896.74, so bulls can have a chance to test $1900.
2023 predictions: The price of major cryptocurrencies such as Bitcoin or Ethereum could maintain a relatively high correlation with the S&P 500 index currently standing at around 0.52

Assessing the possibility of Bitcoin price crash to $20,000 after US NFP rises to 517,000

FXStreet News FXStreet News 03.02.2023 16:16
Nonfarm Payrolls in the US increased by 517,000, 2.5 times higher than the forecast of 185,000. The jobs data came in higher than expectations, which bodes well for the US Dollar, but could trigger a sell-off in risk-on markets like Bitcoin or stock markets. With a massive spike in jobs, average hourly earnings came in at expectations, 0.3%. The United States unemployment rate for January came in at 3.4% which is lower than forecast of 3.6%. The Nonfarm Payrolls (NFP) data shows that 517,000 jobs were added in January, which is much higher than the expected 185,000. The last important component in the jobs sector is the average hourly earnings year-over-year which landed at 4.4% as opposed to the expected 4.9%. To put it simply, the jobs data is bullish for the US Dollar but a threat to the risk-on markets and the rally it experienced at the Federal Reserve's policy meeting on February 1. Hence, market participants need to exercise cautions as a short-term sell-off in the equities and cryptocurrencies could be around the corner. If the disinflation, as suggested by the Fed Chairman Jerome Powell continues, the interest rate hikes will remain at 25 basis points or lower, allowing the committee to achieve their highly-anticipated soft landing. Bitcoin price feels the effects of higher NFP print Bitcoin market participants’ excitement from the US Federal Reserve’s rate hike dovish commentary faded after the release of the US jobs data. Since the NFP showed an addition of 571,000 in January, the bullish outlook seen over the last 24 hours seems to be winding down, which can be seen in BTC’s 4.24% drop. A stronger jobs report where the actual data exceeds expectations is generally seen as a positive development of economic conditions. Hence, it promotes a strong US Dollar, which in turn results in a sell-off in risk-on assets. Read next: Today's ECB Policymakers Comments Seem To Help The EUR/USD Pair, The Australian Dollar Fall Against Strong US Dollar| FXMAG.COM The weekly, three-day and daily charts show a sell-signal or signs of exhaustion. The weekly chart, in particular, shows that BTC is close to tagging the 200-week Simple Moving Average (SMA), which could result in a rejection. Additionally, the one-day chart also shows the presence of a bearish divergence, which could result in a sell-off with the NFP data acting as a catalyst. The $23,000 to $18,600 support zone is extremely important for traders should BTC nosedive in the coming hours. BTC/USDT chart
US equity markets are still trading at much higher valuations than almost all other global markets

US equity markets are still trading at much higher valuations than almost all other global markets

Franklin Templeton Franklin Templeton 03.02.2023 16:10
With January being a month for prognostications, David Mann, Head of Global Exchange-Traded Funds (ETFs) Product and Capital Markets, shares his annual outlook for the ETF industry and key trends he sees taking shape in 2023. First, I hope everyone had a wonderful New Year and was able to find time to recharge the batteries. I do not want to go too far off topic—given this is an ETF newsletter—but I do wonder sometimes if vacationing with the kids qualifies as a relaxing break from the normal daily grind.      This is my seventh (!) year of giving ETF-related predictions. Last year’s predictions were disappointing from an accuracy perspective, and I suppose I should be grateful to my good friends on the Franklin Templeton grading committee for kindly giving me a D- rather than flunking me for my disastrous environmental, social and governance (ESG) ETF call. I reread all six prior columns and think I have a decent sense of which themes I should focus on for better success in 2023. As always, this is an ETF predictions column, so there will be no market calls on interest rates or S&P 500 Index end-of-year levels. Active muni funds will be the active fixed income ETF story of the year I have discussed active ETFs numerous times over the life of this newsletter, including my 2021 predictions column written on the back of the passage of the ETF rule. Active fixed-income ETFs allow portfolio managers to stay nimble and avoid sectors and parts of the credit spectrum that might encounter increased stress, all while leveraging the same creation/redemption operational efficiencies used by index funds. That fact most certainly applies to municipal bond ETFs. Last year was a fascinating one for municipal bond funds, which have recently been the topic du jour in both media and broker/dealer research reports. The asset class felt similar pain as other fixed income exposures, so it was no surprise to find significant outflows in 2022. However, within these outflows there was a fascinating sub-narrative: Municipal bond mutual funds saw outflows of over $140 billion, while municipal bond ETFs saw inflows of almost $30 billion.1      The ETF industry has speculated that the municipal bond market is finally starting to appreciate all the trading, liquidity and operational efficiencies offered by the ETF vehicle, especially given the broader fixed income market structure developments in recent years. I think that is a huge tailwind for municipal bond ETFs, especially those with active management.   Active municipal bond ETFs currently represent roughly 10% of the overall municipal bond ETF market, which stands at a little over $100 billion.2 Last year, those active funds represented roughly 8% of municipal bond ETF inflows.3 I see the overall municipal bond ETF pie continuing to grow and active management increasing its share of that pie. I predict that more than 20% of municipal bond ETF inflows in 2023 will be directed toward active funds.      Equity dividend ETFs find a broader audience The equity ETF market in the United States is gigantic with approximately $5 trillion of total assets across over 2,000 funds.4 The three largest of these equity ETFs each track the S&P 500 Index, charge an average management fee of ~5 basis points and account for a staggering ~20% of all equity ETF assets in the United States.5 For many investors, these three ETFs alone represent a core holding in their overall portfolio. Dividend ETFs represent a far smaller slice of the equity ETF pie with approximately $370 billion of assets and just 7% of total equity ETF market share.6 These ETFs have been quite popular with yield-starved investors, both as an alternative to bond funds and as a portfolio stabilizer during times of heightened market volatility. I would never associate dividend investing with a core holding. However, the evolution of index investing is never-ending, so it’s not surprising that these two worlds are starting to converge. The majority of initial dividend indexes were designed to maximize income, and that can lead to unintended risks, such as single-security or sector bias. The latter could mean that investors miss out on broad market economic growth drivers across a particular market cycle. Put another way, investors can now contemplate how much deviation from the market portfolio they are willing to take for additional yield. There are now a growing number of dividend ETFs that are focused on yield and offer responsiveness to evolving sector dynamics of the broader market. Let’s call these “core dividend” ETFs. As more retail investors approach retirement, dividend ETFs—as previously constructed—will continue to be popular. Additionally, as more investors appreciate newer dividend strategies that could serve as a core holding, the assets under management growth potential significantly increases. I predict that 15% of equity ETF inflows come from dividend ETF strategies. ETFs that hold international equities shine Last year, my prediction on international equity ETF investing was focused on potential supply-chain woes causing significant performance dispersion among global equity markets. In my report card, I noted that the strength of the US dollar in relation to local currencies weighed on the performance of global equity ETFs. Read next: Today's ECB Policymakers Comments Seem To Help The EUR/USD Pair, The Australian Dollar Fall Against Strong US Dollar| FXMAG.COM I estimate that approximately 20% of equity ETF assets in the United States exclusively hold international equities. The flows into these funds have been surprisingly consistent with the one-year, three-year, and five-year percentages all around 24%.7   I think there are some real reasons for global optimism. Although not entirely behind us, pandemic problems now seem to be less impactful globally compared to the past couple of years. Local currencies seem to have stabilized (or even strengthened) in relation to the US dollar. Developed European markets did well during the fourth quarter of 2022, as the euro and the British pound both advanced 9.2% and 8.2%, respectively. Japan’s yen also appreciated 10.4% against the US dollar during the final quarter, helping the FTSE Japan RIC Capped Index rise nearly 13%.8 Latin American markets were a bright spot during 2022, given strong currency performance relative to the US dollar. Brazil was a clear winner among major equity markets with the FTSE Brazil RIC Capped Index ending the year up 12.2%.9 Mexico’s equity market, as measured by the FTSE Mexico RIC Capped Index, also ended in the green with a fourth quarter rally of 13.9%.10 Investors have also been returning their focus to Chinese equities in recent weeks amid growing convictions that government relaxation of Covid-19 restrictions could soon fuel a resumption of consumer spending. The FTSE China RIC Capped Index was up about 13% for the fourth quarter of 2022.11 Supply chain woes appear to be abating, potentially easing global inflationary pressures. US equity markets are still trading at much higher valuations than almost all other global markets, and this could spur bargain hunting. Put that all together, and I think this year we should finally see momentum for ETFs that hold international equities. I predict they will account for more than 40% of equity ETF flows in the United States. Will these predictions play out? Stay tuned! Endnotes Source: Morningstar as of 12/31/22. Ibid. Ibid. Ibid. Ibid. Ibid. Source: Ibid. Sources: Bloomberg and Morningstar Direct as of 12/31/22. Indexes are unmanaged and one cannot directly invest in them. They do not include fees, expenses or sales charges. Past performance is not an indicator of future results. See www.franklintempletondatasources.com for additional data provider information. The FTSE Japan RIC Capped Index represents the performance of Japanese large- and mid-capitalization stocks. Ibid. The FTSE Brazil RIC Capped Index represents the performance of Brazilian large- and mid-capitalization stocks. Ibid. The FTSE Mexico RIC Capped Index represents the performance of Brazilian large- and mid-capitalization stocks. Ibid. The FTSE China RIC Capped Index represents the performance of Chinese large- and mid-capitalization stocks.   WHAT ARE THE RISKS? All investments involve risks, including possible loss of principal. The value of investments can go down as well as up, and investors may not get back the full amount invested. Generally, those offering potential for higher returns are accompanied by a higher degree of risk. Stock prices fluctuate, sometimes rapidly and dramatically, due to factors affecting individual companies, particular industries or sectors, or general market conditions. For actively managed ETFs, there is no guarantee that the manager’s investment decisions will produce the desired results. ETFs trade like stocks, fluctuate in market value and may trade above or below the ETF’s net asset value. Brokerage commissions and ETF expenses will reduce returns. ETF shares may be bought or sold throughout the day at their market price on the exchange on which they are listed. However, there can be no guarantee that an active trading market for ETF shares will be developed or maintained or that their listing will continue or remain unchanged. While the shares of ETFs are tradable on secondary markets, they may not readily trade in all market conditions and may trade at significant discounts in periods of market stress. Source: ETF trends to watch in 2023: Active munis, global appeal and dividend funds | Franklin Templeton
At The Close Of The New York Stock Exchange Only The Dow Jones Was Down

Welcome, Correction

Monica Kingsley Monica Kingsley 03.02.2023 16:07
S&P 500 continued higher on very good market breadth and with bond market support, but already yesterday I announced I was looking for a NFPs facilitated setback aka daily correction preceded by relatively shallow premarket session as job creation, unemployment rate, participation rate and hours worked all showed that the job market remains tight, spurring fresh bets on hawkish Fed to the delight of dollar bulls. Today‘s analysis will be brief as things have worked pretty fine – and you know I had been very busy this week on Twitter… I‘m so glad to hear how you‘ve been killing it in the markets! Let‘s keep charting our path! Daily supports are the badly test 4,145 followed by 4,085, which the bears would like to see reached today – and I think they can get halfway there today. For next week (not meaning Monday to be clear), we have.4,225 on the upside as the most ambitious target that would provoke a battle to get overcome. Chart courtesy of www.stockcharts.com. Hop on my Twitter feed and go through some more of the key events shaping up this week, announced as of Tue and today. High standards, transparency and quality of service rule! Keep enjoying the lively Twitter feed serving you all already in, which comes on top of getting the key daily analytics right into your mailbox. Plenty gets addressed there (or on Telegram if you prefer), but the analyses (whether short or long format, depending on market action) over email are the bedrock.So, make sure you‘re signed up for the free newsletter and that you have my Twitter profile open with notifications on so as not to miss a thing, and to benefit from extra intraday calls. Thank you for having read today‘s free analysis, which is a small part of my site‘s daily premium Monica's Trading Signals covering all the markets you're used to (stocks, bonds, gold, silver, miners, oil, copper, cryptos), and of the daily premium Monica's Stock Signals presenting stocks and bonds only. Both publications feature real-time trade calls and intraday updates. While at my site, you can subscribe to the free Monica‘s Insider Club for instant publishing notifications and other content useful for making your own trade moves. Turn notifications on, and have my Twitter profile (tweets only) opened in a fresh tab so as not to miss a thing – such as extra intraday opportunities. Thanks for all your support that makes this great ride possible!
Renewable electricity is now more profitable than energy from fossil fuels

Renewable electricity is now more profitable than energy from fossil fuels

Franklin Templeton Franklin Templeton 03.02.2023 15:47
Governments are deploying a ‘carrot and stick’ approach to manufacturers around the world in an effort to reduce carbon dioxide emissions. This has resulted in renewable electricity becoming more profitable than energy from fossil fuels. This article, authored by Yu (Ben) Meng, Ph.D., Executive Vice President of Franklin Templeton and Anne Simpson, Franklin Templeton’s Global Head of Sustainability, was first published in Carbonomics: the path to net zero, OMFIF Sustainable Policy Institute Journal, Winter 2023. If efforts to lower carbon dioxide emissions feel underwhelming to some, we see positive momentum worth celebrating.1 In market-based economies, profits are a strong motivator. Renewable electricity is now more profitable than energy from fossil fuels. These green profits didn’t happen by chance, however. Government incentives—both carrots, such as subsidies, and sticks, like carbon prices—helped redirect capital to make this happen. Governments including Germany and China have long used carrots, such as loan guarantees and feed-in tariffs to kick-start solar photovoltaics (PV) production.2 In China, manufacturers received access to subsidized land, modern manufacturing infrastructure, special financing and tax cuts. In total, China’s industrial carrots helped scale up solar PV production 500 times between 2000–2016.3 Economists studying the mechanics of innovations find economies of scale, combined with learning-by-doing, play an outsized role in lowering costs and improving quality across clean-energy technologies.4 Look at the seismic shift in competitiveness of renewable electricity over fossil fuel options. From 2010–2021, the costs of solar PV electricity dropped 88%, which is now below the costs of fossil fuel electricity, as indicated in Exhibit 1.5 At these prices, solar PV is more profitable for power plants than coal or gas-fired electricity. It’s with an eye toward green profits that India’s largest power company is now committed to building 60 gigawatts of solar PV electricity by 2032.6 Renewables Costs Have Fallen Sharply Exhibit 1: Global Weighted Average Levelized Cost of Electricity (US$ kWh)2010–2021 International Renewable Energy Agency (IRENA), Our World in Data. As of December 6, 2022. If carrots boost green profits, regulatory sticks like carbon prices offer a different, but complementary, way to tackle emissions. In theory, carbon markets are more efficient than government subsidies, which can drive overcapacity. The European Union (EU) operates the world’s largest and first major carbon market, followed by China’s carbon market launched in 2021.7 However, carbon prices are too low to redirect capital at the scale and speed we need. China’s carbon price is just US$8 per metric ton8 of carbon dioxide, far below the EU’s carbon price shown in Exhibit 2. That said, we’re less concerned for two reasons. Read next: Michael Hewson ahead of the UK GDP release: What we do know is that any growth is likely to be anaemic, and 2023 is still likely to be very challenging| FXMAG.COM Carbon Pricing—Not So Taxing Exhibit 2: Emissions Trading Systems in EU, New Zealand, China, and South Korea (converted to US$)January 4, 2021–December 6, 2022 (Daily) Source: Bloomberg. First, China’s carbon pricing will help squeeze out inefficiencies from its coal-fired plants in the near term, before scaling up in the future. Second, the EU implemented a carbon border tax that will have positive ripple effects across the globe. Countries that trade regularly with the EU can either forfeit money at the border when selling high-carbon products or invest more at home in clean energy systems to avoid the tax. The EU’s carbon stick will incentivize trading partners to transition their economies quickly. In terms of green energy carrots, the United States is deploying procurement contracts to double its solar power capacity in 10 years,9 plus generous subsidies to build green factories that create jobs with better wages. In turn, as the Paris agreement’s concept of the “just transition” gains momentum, we see new support for the shift to low carbon energy—so long as we ensure we put people at the center of the plans.10 We believe the power of green profits is unstoppable. Endnotes Source: Dlouhy, J. and J. Ainger. “How a Flawed But Historic Climate Deal Emerged From COP Chaos,” Bloomberg, November 20, 2022. Source: Bose, S., Dong, G., and A. Simpson. “The Financial Ecosystem: The Role of Finance in Achieving Sustainability,” Palgrave MacMillan, 2019. Source: Mazzocco, I. “Cheap Solar (Part 1): How Globalization and Government Commercialized a Fledging Industry,” Macro Polo, January 14, 2021. Source: Nagy, B., Farmer, J., Bui, Q., and J. Trancik. “Statistical Basis for Predicting Technological Progress,” Plos One, February 28, 2013. Source: “Renewable Power Generation Costs in 2021,” International Renewable Energy Agency, July 13, 2021. Source: Bullard, N. “India’s Coal-Dominated Power Market Is Tilting Toward Solar,” Bloomberg, June 24, 2021. Source: Busch, C. “China’s Emission Trading System Will Be the World’s Biggest Climate Policy,” Forbes, April 18, 2022. A metric ton is equivalent to 1000 kg or 2204.6 lbs Source: Esposito, D. “Inflation Reduction Act Benefits: Clean Energy Tax Credits Could Double Deployment,” Forbes, August 23, 2022. Source: Eckhouse, B. “Green Factories Are Changing Minds in More Conservative US States,” Bloomberg, November 28, 2022.   WHAT ARE THE RISKS? All investments involve risks, including possible loss of principal. The value of investments can go down as well as up, and investors may not get back the full amount invested. Stock prices fluctuate, sometimes rapidly and dramatically, due to factors affecting individual companies, particular industries or sectors, or general market conditions.  Franklin Templeton and our Specialist Investment Managers have certain environmental, sustainability and governance (ESG) goals or capabilities; however, not all strategies are managed to “ESG” oriented objectives. Source: Beyond ESG: Government incentives delivering green transition | Franklin Templeton

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Markets comments

INGEconomics
Auto production and general machinery increased significantly. South Korea Industrial Production as a whole gained 0.4%
ING Economics
IpekOzkardeskaya
China's reopening seems to be a double-edged sword as energy and commodities prices will go up
Ipek Ozkardeskaya
IntertraderMarket News
European stocks closed mixed. The DAX 40 fell 0.50%, the CAC 40 declined 0.61%, while the FTSE 100 rose 0.32%
Intertrader Market News
DanielKostecki
China reopens, Texas freezes - crude oil has to face contrasting factors
Daniel Kostecki
InstaForexAnalysis
Gold supported by, among others, changes on Japanese bond market, may end the year trading at a 4-month high
InstaForex Analysis
INGEconomics
Indonesia is the world's 6th largest bauxite producer. Country bans commodity export from June 2023
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EnriqueDíaz-Álvarez
Bank of England decision wasn't unanimous as one member voted for a 75bp hike with two other opting for inaction
Enrique Díaz-Álvarez
GecoOne
Geco.one COO says Bitcoin reaching $250K in 2023 is considered as impossible by other analysts as BTC does not exceed $60,000
Geco One
IntertraderMarket News
Netflix (NFLX) slumped 8.63%, as a media report said the video streaming firm is refunding advertisers after missing views targets
Intertrader Market News
CraigErlam
Craig Erlam talks euro against US dollar amid central banks decisions
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Crypto.comAccelerate the...
There is a chance Apple may let users install apps from outside the App Store boosting NFT
Crypto.com Accelerate the...
INGEconomics
Sterling to euro exchange rate is expected to hit 0.89 in the first quarter of 2023
ING Economics
INGEconomics
Analysts expect ECB to deliver two 50bps hikes in the first quarter with a chance of one more in Q2
ING Economics
AlexKuptsikevich
Switzerland: National Bank goes for a 50bps rate hike. Swiss inflation slowdown is impressing
Alex Kuptsikevich
CraigErlam
European Central Bank is expected to go for a less hawkish hike, but economic projections may be worth even more attention
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How to convert USD to GBP? Maybe it's time to use our online currency converter?

With our currency converter you're able to check exchange rates of many currencies.

Examples of available currency pairs.

What is Forex?

Forex is an abbrevation for Foreign Exchange. This market is decentralized and works 24/5. Forex contains trading of two assets - a pair of currencies or a pair of currency and a commodity or a precious metal. All of transactions are based on CFD.

100 EUR To USD | What Is Forex?

CFD Meaning:

CFD is an abbreviation for Contract For Difference. In a simplified way it means that you're not an owner of certain asset and transactions are based on the exchange difference.

What are Forex pairs?

We can distinguish forex major pairs, minor pairs and exotic currency pairs.

Forex major pairs are: EUR/USD (EUR To USD), USD/JPY (USD To JPY), GBP/USD (GBP To USD).

Forex minor pairs are: EUR/GBP (EUR To GBP), NZD/USD (NZD To USD), EUR/CHF (EUR To CHF), CAD/JPY (CAD To JPY).

Sample pairs: GBP To INRJPY To USDGBP To AUDJPY To HKDGBP To TRYAUD To USD

It's good to...

follow European Central Bank (ECB), Federal Reserve (Fed) and Bank of England (BoE) decisions as they might affect exchange rates.

The Dollar Index (DXY) should arouse our interest as well.

Take care of your financial skills:

Get familiar to the terms of Technical Analysis and Fundamental Analysis.

Many of us wonders what to invest in. Have a look at Forex section, but have in mind, that FXMAG.COM isn't only about currencies. You're welcomed to visit CryptoStock Markets and Gaming sections to discover many ways of investing.

Do you want to invest in gold and silver? There's a Precious Metals section waiting for you!

For those considering real estate investing, have a look at this section.

Modern investors might want to invest in Bitcoin, Ether, other Altcoins or invest in Amazon, but markets are so diversed nowadays. There are a lot of stocks to buy.

Investing money? You're surely familiar to terms like inflation. Watch CPIPPI and other indicators to make proper decisions. ECBFed or other national banks' decisions of e.g. tightening monetary policy can affect currencies, precious metals and other instruments. Having that in mind, we should watch interest rates.

Important financial terms:

Trend Lines, Bull Market, Bear Market, All Time High (ATH), Fluctuation, Candlesticks.

Trending in investing:

Tesla (TSLA), Solana (SOL), Apple (APPL), Altcoins

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