the daily degen 🦍(08nov23)
handle.fi daily trooper update
todays markets
market news
📈S&P 500, nasdaq finish higher to clinch longest winning streaks since november 2021.
🏎️kraken follows coinbase’s lead with plans to launch layer 2 network.
🚫coinbase blocked in kazakhstan for breaking new digital assets law.
👩🏼⚖️the arbitrum community passed a revamped proposal to launch staking for ARB holders.
👷🏼♂️avalanche builder ava labs lays off 12% of team, founder, emin gun sirer said on X Monday.
crypto fear and greed index
trooperGlossary: currency swap 📚
a currency swap contract is a financial agreement between two parties to exchange principal and interest payments in two different currencies for a set period.
the principal amounts are usually exchanged at the beginning and end of the contract, often using the spot exchange rate. throughout the life of the swap, both parties will exchange interest payments on the principal at agreed intervals (e.g., quarterly, semi-annually). currency swaps are extensively used by multinational corporations, financial institutions, and investors to manage foreign exchange risk, to gain access to foreign capital markets at more favorable terms, or to hedge against interest rate and currency fluctuations. they differ from FX swaps in that they involve both the exchange of principal and interest between the parties, whereas FX swaps involve only the exchange of principal amounts.
around the X-verse… (formerly the twitterverse)
vapourised 💥…
are we still early 😃…?
oh no! i’ve seen this movie before 🤖…
trade ideas
trade: short DXY/ USD
a recent observation shows that the dollar index (DXY) slipped below the support near ~105.6, revisiting the range it traded in throughout most of 2023. during the last night's session, the DXY attempted to climb back above this resistance but was rejected.
this price action suggests possible opportunity to enter a SHORT position, capitalizing on this most recent resistance hold.
traders could eye the next support near ~103 as a potential target for this trade.
#NFA #DYOR
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