Facebook’s Libra To Launch As Soon As January

Libra, the cryptoasset devised by Facebook, is reportedly planning to launch as early as January, as per the Financial Times, although it will be a scaled-down version of what was originally planned.

The FT quotes unnamed sources as saying the launch will now be focused on one single cryptoasset, rather than the launch of several coins. The global stablecoin project was initially proposed to be pegged to a basket composed of multiple fiat currencies, but it has changed plans following regulatory pressure from the US and abroad.

It comes in the same week that bitcoin hit a record peak, only to sell off sharply following its mammoth run upwards. Yesterday, the 20 day moving average (green line) seemed to hold although it looks like it will be tested again today.

Commodities markets edged lower overnight after a strong run in November. Among the key movers, the price of oil  – which hit an 8 month high this week only to dip on supply concerns. Gold, where the rally has stalled since the US election result and news of virus vaccines, was up marginally at $1,806, some way off its August peak above $2,000.

Global stocks dip as vaccine doubts emerge; US markets closed

The rally in global shares to near-record highs stalled overnight, with concerns about the path of coronavirus once again flaring up. US cases of Covid-19 are at a record and experts warn that Thanksgiving gatherings could lead to further infections and deaths.

The virus concerns, made worse by the news that AstraZeneca’s vaccine is not as effective as previously hoped, coupled with a US market shuttered for the holidays, saw global indices largely tread water. Both the Japanese Nikkei and Hong Kong’s Hang Seng were up less than 0.5%, eking out minor gains, while US futures markets were pointing marginally lower ahead of a reduced trading session today which will last only a few hours.

S&P 500: -0.2% Wednesday (closed Thursday), +12.4% YTD

1 2 3
View single page >> |

Disclaimer: eToro (UK) Ltd is authorized and regulated by the Financial Conduct Authority. eToro (Europe) Ltd is authorized and regulated by the Cyprus Securities and Exchange Commission. eToro AUS ...

more
How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.