As of today, Germany will begin sending back migrants who reach their borders. According to the Dublin Regulation all migrants must apply for processing in the first EU country that they land on.
That rule was suspended for a period of 5 years due to the massive influx from Syrian and African conflicts. Angela Merkel is hesitant to give any extension ahead of the upcoming elections. Many see the current crisis as the weakest point of her career so going soft at the moment doesn’t seem like much of an option.
Writing to you today from Paris France, this is the first time that I’ve had a chance to see this issue up close. Seeing families begging for change in front of top brand stores like Gucci and Luis Vitton really tugs at the heart strings. We really hope that these people are able to integrate quickly into society. Poor Greece and Italy. Now that Germany is not accepting migrants directly, they’ll need to absorb more people at a faster rate.
Stocks in Asia seem to have broken the US’s momentum after some key data that was released from China this morning revealed imports and exports are not growing as fast as they did last month.
Though the overall trade balance figures grew notably as well as China’s foregn reserve cash piles, trade with key partners was not good. For example, shipments to South Korea grew 50% less than they did a month ago.
This graph from the Financial Times shows the imports and exports numbers over the last few years.
The US Dollar is still falling and the Chinese figures this morning have pushed it further still. In this graph we can see the Buck giving way to the Chinese Yuan today.
For those trading on this pair, watch closely tomorrow night, we’ll get some important inflation data that could potentially push this even further.
Ladies and Gentelman, after 10 weeks of back and forth movement, the cryptocurrency markets are surging again!!!
Nevermind what happened with Bitcoin Cash or Segwit, or the entire bitcoin scaling debate those are all distractions from the main theme. The total market cap of all cryptocurrencies has reached a new all time high this morning of $120.5 Billion.
All of the top 20 cryptos are in the green this morning and the new eToro Crypto CopyFund is now firmly in the green.
The excitiment is all about Bitcoin. Having seemingly survived the apparent distractions there’s a lot of pent up buying pressure that was sitting on the side waiting for the debates to end and now it has.
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On Friday, the price of Bitcoin poped above $3000 like a cork out of a champagne bottlle and has since risen nearly $500 per coin.
As always, please trade cryptos responsibly. These assets are extremely risky. Though the Segwit issue seems to be clear cut, we still have the SegWit2x hurdle ahead. Even though many miners are signaling in favor of the 2 Megabyte hard fork, it may not be as smooth an implementation as many think.