Sterling Falls
Alibaba Reaches $25B In Sales
Bitcoin Plummets
Mon, November 13: In Today’s Markets…
1. Sterling Falls On Doubts Over May
The GBP was pressured by a recent Times newspaper report that 40 Conservative lawmakers had agreed to sign a letter of no confidence in May. The sterling traded lower in early morning trading on Monday, slipping by 0.7 percent as of 8:00 GMT. In related news, Brexit minister David Davis said on Sunday that Britain will not offer a figure for how much it believes it owes the European Union, highlighting the lack of progress in Brexit negotiations.*
2. Alibaba Reaches $25B In Sales In A Single Day
Alibaba Group Holding Ltd (BABA) has reported that it has netted over $25 billion in gross merchandise volume (GMV) during its one-day Singles Day sale on Sunday. This year’s GMV has smashed last year’s total by a whopping 39%. The vast majority of the sales were generated via BABA’s Taobao marketplace and Tmall brand store. In total, Alibaba saw 1.48 billion transactions during the single 24-hour period.**
3. Bitcoin Plummets Over The Weekend
Bitcoin plunged this Saturday after the cancellation of a technology upgrade prompted some users to switch out of the cryptocurrency. Bitcoin’s slump dragged down shares of cryptocurrency-related companies. The cryptocurrency slid by as much as 29 percent over the weekend. Meanwhile, bitcoin cash is gaining popularity because of its larger block size, a characteristic that makes transactions cheaper and faster than the original.***
The week ahead – Key Data Releases To Look Out For
- 14/11 – Vodafone Group Plc to release quarterly earnings pre-market
- 15/11 – Cisco Systems (CSCO) to release quarterly earnings post-market
- 15/11 – Wal-Mart Stores to release quarterly earnings pre-market
- 16/11 – U.K. Retail Sales (Oct) to affect GBP at 09:30 GMT
You can find and trade all of the above mentioned equities and commodities on BDSwiss Forex/CFD platforms.
*Source: Bloomberg
**Source: CNBC
***Source: Seeking Alpha
