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Today 25 January 2021 Top 5 #Market News By Capital Street Fx | Oil, Dollar, Cryptocurrency, Volkswagen, Toshiba
#MarketNews #StockNews #Marketoutlook #CapitalStreetFx
#Market News –
1.Big #Oil hits brakes on search for new fossil fuels:-
Top oil and gas companies sharply slowed their search for new fossil fuel resources last year, data shows, as lower energy prices due to the coronavirus crisis triggered spending cuts.
Acquisitions of new onshore and offshore exploration licences for the top five Western energy giants dropped to the lowest in at least five years, data from Oslo-based consultancy Rystad Energy showed.
2. #Dollar Down, But Fresh COVID-19 Worries Cap Losses
The dollar was slightly down on Monday morning in Asia. However, the U.S. currency was holding ground against riskier currencies over fresh COVID-19 worries and weak European economic data, in turn stretching dollar selling positions as investors turn to safe-haven assets.
Bets against the dollar have become overcrowded, with U.S. data released on Friday showing that net dollar short positions rising to their highest levels since May 2011.
3. #Altcoins rally while #Bitcoin bulls are thwarted by resistance at $34K
Bitcoin’s (BTC) tumble below $30,000 was short-lived as the top #cryptocurrency found a new wave of support, including a $10 million ‘buy the dip’ moment from MicroStrategy.
Data from Cointelegraph Markets and TradingView shows the strong inflows have helped lift BTC 4.92% to a daily high at $33,866.
4. #Volkswagen looks to claim damages from suppliers over chip shortages
#German car manufacturer Volkswagen is in talks with its main suppliers about possible claims for damages due to a shortage of semiconductors, a company spokesman said on Sunday.
Automakers around the world are shutting assembly lines due to problems in the delivery of semiconductors, which in some cases have been exacerbated by the former Trump administration’s actions against key Chinese chip factories.
5. #Toshiba Sees Shares Soar Over 16%a as it Preps TSE-1 Return
Japan’s #Toshiba Corp. saw its shares surge to their highest level in three years after the company revealed plans to return to the TSE-1, or first, section of the Tokyo and Nagoya stock exchanges after an extended absence.
The company’s shares soared 16.77% to JPY3,460 ($33.34) as of 12:17 AM ET (5:17 AM GMT), the biggest intraday gain since July 2017.
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