An Alternative View

Yet another indication of a global slowdown came in yesterday. The Organization for Economic Cooperation and Development, better known as the OECD has slashed its forecasts for global growth even more drastically than the IMF. 

The Paris based institution has reduced its outlook for global GDP by two notches from 3.5% to 3.3%. 

While markets are optimistic about possible upcoming trade deals between China and the US, the US and Europe, and the outcome of Brexit, the impact of these existing situations is already smothering the world's economy. Not to mention if any of those risks should materialize.

We hope that these tensions are resolved in the next couple of months but remain cautious in case they are not.

Traditional Markets

Today, the European Central Bank (ECB) will deliver their interest rate decision followed by a press conference with their Governor Mario Draghi.

There are a slew of central bank announcements this month and the ECB is the first major one. After completely ending their QE program at the start of the year, investors want to know if and when they plan to start raising interest rates.

Given the recent capitulation from the US Fed and the rising risk of a no-deal Brexit, we can probably expect Super Mario to echo Powell's tone of 'patience' and possibly add the word 'caution'. Both of which markets tend to adore because it means more support in the short term.

As Draghi takes the stage at 1:30 PM GMT, our eyes will be on the EUR/USD, which has been building itself a meaningful level of support at 1.1250. A break of which could very well lead to a strong Dollar swing throughout the markets.

In-depth view on Litecoin

Following a recent argument with one of my favorite trolls, I decided to do a little bit more digging into Litecoin and how people are using it. 

This graph shows the number of transactions on the Litecoin blockchain, which has remained remarkably stable at 20k transactions per day (TPD) since last April.

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Please note: All data, figures & graphs are valid as of March 7th. All trading carries risk. Only risk capital you can afford to lose.

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