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On Monday (February 25), during the Asian session, EUR/USD was hovering around the 1.1340 level. Since last Thursday, the pair has shown a good two-way fluctuation pattern and is currently maintaining a consolidation trend. After two consecutive weeks of decline, EUR/USD saw a slight rebound last week, closing with a bullish candle at 1.1333. However, the overall movement remained within a rather narrow range, with last week’s high at 1.1372 and the low at 1.1273. The European Central Bank (ECB) minutes released last Thursday noted that any potential new operations should reflect the monetary policy objectives that need to be achieved. While decisions on this front should not be rushed, the technical analysis required to prepare policy options for future liquidity operations must be conducted swiftly. The minutes pointed out that the likelihood of a recession in the eurozone is low, but uncertainty remains high. The eurozone's economic growth may fall below potential growth rates for several quarters, and recent economic momentum may be weaker than previously expected. The minutes also showed that it is impossible to draw clear conclusions about the short-term slowdown's impact on the medium-term outlook. The Governing Council will make a more in-depth assessment of the economic activity outlook at its early March meeting. At the January 24 monetary policy meeting, the ECB announced that interest rates would remain unchanged and reiterated that it expects rates to stay unchanged at least until the summer of 2019. At that time, the ECB reaffirmed that borrowing costs are expected to remain at current levels throughout the summer and that it will continue to reinvest funds from maturing bonds for an extended period after the first rate hike. As for the future outlook of EUR/USD, analysts from Barclays' strategy trading team provided a brief analysis and outlook, as well as their latest trading strategy. The main points of their view are as follows: They maintain a bearish bias on EUR/USD. The recommendation is to sell EUR/USD on rallies, as the eurozone economy is expected to face further downside risks. The target for shorting EUR/USD is set at 1.0889, which is the 76.4% Fibonacci retracement of the pair's rally from 2016 to 2018. Meanwhile, the stop-loss for this trade strategy can be set at 1.1449, which is the 50% Fibonacci retracement of the same rally. As of 11:50 Beijing time, EUR/USD was trading at 1.1341/42. Edited by: TIER