Focus su EurUsd e BitCoin

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Nvidia and AMD have very different views on cryptocurrencies (NVDA, AMD)

Cryptocurrencies are blisteringly hot right now. Bitcoin just crossed the $3,500 mark for the first time and is up 493.38% over the last year.

The meteoric rise of cryptocurrencies has been a boost to several chip makers. Nvidia and AMD are the two largest manufacturers producing graphics processing units that cryptocurrency users take advantage of to speed up the network.

GPUs from both AMD and Nvidia have been sold out in many places as demand for the cards has skyrocketed with the value of bitcoin.

Even though the currencies have provided a boost to both companies, the CEOs running Nvidia and AMD have very different views of how to approach the “miners” hungry for their technology.

On Nvidia’s latest earnings call, CEO Jen-Hsun Huang responded to a question about the company’s plan to address cryptocurrencies by saying they are “here to stay.”

“The market need for it is going to grow, and over time it will become quite large. It is very clear that new currencies will come to market, and it’s very clear that the GPU is just fantastic at cryptography,” Huang said. “Our strategy is to stay very, very close to the market. We understand its dynamics really well.”

Nvidia has released several GPUs dedicated to cryptocurrency mining recently. The chips are optimized for lower power consumption and faster processing speeds for the type of math specific to mining.

This runs contrary to AMD’s strategy. AMD’s CEO, Lisa Su, said bitcoin and its competing currencies won’t be a “long-term growth driver” for the company.

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“Relative to cryptocurrency, we have seen some elevated demand,” Su said. “But it’s important to say we didn’t have cryptocurrency in our forecast, and we’re not looking at it as a long-term growth driver. But we’ll certainly continue to watch the developments around the blockchain technologies as they go forward.”

Since Su’s comments on July 25, bitcoin saw a surprise “fork” of its software, introducing a new version of the cryptocurrency called bitcoin cash alongside the original bitcoin. The price of a bitcoin is up 38.44%, or about $1,000, to $3556.16 since the split. Gains are even higher if you consider the additional value all users of bitcoin were able to receive from bitcoin cash as a result of the split.

Su says AMD’s plans don’t extend beyond refilling supply channels to make up for added demand. The company will continue to focus on its core PC gaming market.

AMD is up 7.29% this year, and Nvidia is up 51.69%.

EUR/USD (EURUSD=X)

Previous Close 1.086
Open 1.088
Bid 1.088
Day’s Range 1.088 – 1.088
52 Week Range 1.0655 – 1.1496
Ask 1.087

The Week Ahead – It’s All About the Lockdowns and the Hope of an Economic U-Turn

Is the worst really over from a pandemic and economic meltdown perspective? The markets thought so on Friday. Expect plenty of action in the week ahead…

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EUR/USD Forex Technical Analysis – Near-Term Strength Over 1.0892, Near-Term Weakness Under 1.0831

Friday’s minor closing price reversal bottom is impressive, but it’s not going to mean much unless there is a follow-through move to the upside. Furthermore, the EUR/USD really needs to take out 1.0991 to trigger some buy stops and perhaps fuel some aggressive short-selling.

EUR/USD Weekly Price Forecast – Euro Continues to Consolidate

The Euro has gone back and forth during the week, as it looks like we are trying to carve out some type of range in this pair. That makes sense, because quite frankly this pair typically doesn’t move much, and the last couple of months have certainly been a bit of an outlier.

EUR/USD Price Forecast – Euro Bounces Slightly on Friday

The Euro bounced slightly during the trading session on Friday as we head into the weekend, which makes quite a bit of sense that the market might want to take a bit of a breather as we continue to see a lot of concerns.

EUR/USD Daily Forecast – Euro Holds Steady Despite a Boost in Risk Sentiment

EUR/USD has wiped a bulk of last week’s loss and is seen holding near 1.0830 support going into the North American open.

Stocks – U.S. Futures Surge; Gilead Shines, P&G Scrubs up Well

Elsewhere, gold futures fell 1.5% to $1,705.20/oz, while EUR/USD traded at $1.0844, up 0.1%.

Stocks – Europe Climbs as Hope Over Virus Cure Grows

European stock markets pushed higher Friday, as investors dismissed weak Chinese growth data to focus on reports of a potentially promising treatment for the coronavirus and plans for re-opening major economies. The broader based Stoxx 600 Europe index climbed 2.5%. Earlier Friday, China registered a contraction in its economy in the first quarter – the first in almost three decades of records, as gross domestic product fell 6.8% in January-March year-on-year.

Dollar Edges Lower; Lira Under Pressure

All this said, the lira isn’t even close to being the worst performing emerging market currency this year – with the South African rand and the Brazilian real taking those ‘plaudits’. The dollar has risen 34% against the rand and 30% against the real since Jan. 1.

China Economic Data Delivers More Bad News, While COVID-19 Updates Provides Early Support

Economic data out of China fails to shock the markets, as hopes of an end to COVID-19 delivers a boost early in the day.

EUR/USD Price Forecast – Euro Falls Again

The Euro fell again during the trading session on Thursday, as we continue to see a lot of concern out there when it comes to the global growth scenario. Europe is an absolute mess, although some leaders are already starting to talk about going back to work.

As the COVID-19 Numbers Begin to Ease, the Apologies Begin. Will It Be Enough?

It’s been quite a week for the markets and its not over yet. Economic data continues to raise more red flags yet words of comfort deliver support…

EUR/USD Mid-Session Technical Analysis for April 16, 2020

Based on the early price action and the current price at 1.0889, the direction of the EUR/USD the rest of the session on Thursday is likely to be determined by trader reaction to the 50% level at 1.0892.

Lagarde says ECB considering more euro swap lines, will do ‘as much as necessary’

The European Central Bank is assessing further requests for euro-providing swap lines, President Christine Lagarde said Thursday. Speaking before the International Monetary and Financial Committee, Lagarde said the ECB is fully prepared to increase the size of its asset purchase programmes and adjust their composition, “by as much as necessary and for as long as needed. It will explore all options and all contingencies to support the economy through this shock.”

TomTom Earnings, Revenue Miss in Q1

Investing.com – TomTom reported on Wednesday first quarter earnings that missed analysts’ forecasts and revenue that fell short of expectations.

EUR/USD Daily Forecast – Euro Dips Below 1.0900 as the Dollar Recovers

EUR/USD reversed sharply lower yesterday and is under pressure once again in early trading on Thursday. The pair trades firmly below the 1.0900 handle ahead of today’s US unemployment claims report.

Weak Economic Data Worsened Market Sentiment

World stock indices showed on Wednesday that they could not hold the peaks near monthly highs.

Stocks – U.S. Futures Higher Ahead of Key Jobless Claims Data

Elsewhere, gold futures rose 1.2% to $1,761.20/oz, while EUR/USD traded at $1.0877, down 0.3%.

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