Daily News | New Chinese economic data

Asian stocks fell a bit due to the latest Chinese economic data. According to new information, China’s retail sales rose 10 percent on the year in October. As for their industrial output, it went up 6.2 percent. The consequences were noticed immediately. The Australian dollar, often used as a liquid proxy for China wagers, was hit, and the broadest index of Asia-Pacific outside Japan – .MIAPJ000PUS – fell 0.4 percent. Both movements are interpreted as related to new Chinese economic data. On the other hand, Japan’s Nikkei .225 got 0.4 percent and that is his first rise after two sessions of declines. When it comes to the situation in America, investors are still waiting for an agreement on U.S. tax policy. On Thursday U.S. Senate unveiled a plan of cutting corporate taxes.

We bring some good news to Bitcoin lovers, too. The former macro hedge fund manager at Fortress Investment Group, Mike Novogratz, stated that some mainstream investors will soon adopt bitcoin. Up until now, mainstream investors mostly didn’t want to have anything to do with cryptocurrencies because they have always considered them highly speculative. If you’re into this type of trading, this might be one great opportunity. We will know more in the weeks to come, so keep following us!

Daily News | Enter the game with the best broker

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Author: Max Rothstein

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