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Thomson Reuters Selects CryptoCompare for Cryptocurrency Data

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Thomson Reuters Selects CryptoCompare for Cryptocurrency Data

CryptoCompare adds order book and trade data for 50 cryptocurrencies to Thomson Reuters Eikon 

CryptoCompare, the global cryptocurrency market data aggregator, has entered into a strategic partnership with Thomson Reuters, the world’s leading source of news and information for professional markets.

Under the agreement, CryptoCompare will integrate order book and trade data for 50 coins, sourced from a wide variety of trusted exchanges, into Thomson Reuters financial desktop platform Eikon, providing institutional investors with reliable insight into the crypto asset market as a whole.

Thomson Reuters Eikon is a powerful and intuitive next-generation solution for consuming real-time and historical data, enabling financial markets transactions and connecting with the financial markets community. Its award-winning news, analytics and data visualization tools help its users make more efficient trading and investment decisions across asset classes and instruments including commodities, derivatives, equities, fixed income and foreign exchange. Eikon is an open platform, customizable to the individual needs of a financial professional or institution.

Adding CryptoCompare’s data to the Eikon platform will allow trading professionals and investors to gain a comprehensive view of the cryptocurrencies market and of market participant behaviour, enabling them to predict price movements with a high degree of probability. Eikon users will be able to see data for actively trading coins, allowing them to identify the specific buy and sell opportunities, expand their digital asset portfolios and make profitable investment decisions.

CryptoCompare provides real-time, high-quality and reliable market and pricing data on 5,000+ coins and 200,000+ currency pairs globally, bridging the gap between the crypto asset and traditional financial markets. Acting as gatekeeper for reliable, accurate and clean data, CryptoCompare adheres to rigorous standards to safeguard data integrity, normalising global data sources to ensure consistency and confidence in the market.

By aggregating and analysing tick data from globally recognised exchanges and seamlessly integrating different datasets in the cryptocurrency price, CryptoCompare provides a comprehensive overview of the market and a fundamental value matrix. At a granular level, CryptoCompare produces cryptocurrency trade data, order book data, block explorer data and social data.

Charles Hayter, CEO and Founder of CryptoCompare, said: “As the digital asset markets mature, we see a fast-growing demand from the institutional investor community for comprehensive, real-time and global market data, which can be trusted as the basis for investment decisions. We are excited to enter into this partnership with Thomson Reuters; we have always sought to provide transparency to this market and this partnership provides a great opportunity for the institutional investor community to access not only our data, but also to benefit from our experience and insight.”

Sam Chadwick, Director of Strategy in Innovation and Blockchain at Thomson Reuters, said: “Despite the decline in the price of many of the leading cryptocurrencies during 2018, we continue to see increasing demand from our customers for pricing coverage of the major names. We have been engaged with CryptoCompare since their involvement in our blockchain hackathon in September 2016, and continue to be very impressed by their approach to coverage of these challenging markets. This partnership puts pricing data for this emerging market alongside other asset classes, giving our customers a more comprehensive trading view in Eikon.”

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Oil drops on dollar strength and OPEC+ supply expectations

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Oil drops on dollar strength and OPEC+ supply expectations 1

By Jessica Resnick-Ault

NEW YORK (Reuters) – Oil prices fell on Friday as the U.S. dollar rose while forecasts called for crude supply to rise in response to prices climbing above pre-pandemic levels.

Brent crude futures for April, which expire on Friday, fell 74 cents, or 1.1%, to $66.14 a barrel by 12:45 EDT (17:45 GMT). The more actively traded May contract slipped by $1.08 to $65.03.

U.S. West Texas Intermediate (WTI) crude futures dropped $1.42, or 2.2%, to $62.11. The contract was still on track to be up 4.8% on the week.

The U.S. dollar rose as U.S. government bond yields held near one-year highs, making dollar-priced oil more expensive for holders of other currencies.

“It’s a dicey time – it doesn’t seem like a time to load up on a risk-asset position,” said Bob Yawger, director of Energy Futures at Mizuho in New York, wary of a potential output increase from OPEC and allies at next week’s meeting. Also, the U.S. stockpile report this week showed a surprise build in oil inventories.

Friday’s gains also reflect profit-taking after both Brent and WTI headed towards monthly gains of about 20% on supply disruptions in the United States and optimism over demand recovery on the back of COVID-19 vaccination programmes.

Investors are betting that next week’s meeting of the Organization of the Petroleum Exporting Countries (OPEC) and allies, a group known as OPEC+, will result in more supply returning to the market.

U.S. crude production fell in December, the latest month for which data is available, according to a monthly report from the Energy Information Administration.

Despite talk of tightening fundamentals, the demand side of the market is nowhere near warranting current oil price leves, they added.

U.S. crude prices also face pressure from slower refinery demand after several Gulf Coast facilities were shuttered during the winter storm last week.

Refining capacity of about 4 million barrels per day (bpd) remains shut and it could take until March 5 for all capacity to resume, though there is risk of delays, analysts at J.P. Morgan said in a note this week.

(Reporting by Shadia Nasralla, Additional reporting by Sonali Paul in Melbourne and Koustav Samanta in Singapore; Editing by David Goodman, Louise Heavens and David Gregorio)

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Bitcoin set for worst week since March as riskier assets sold off

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Bitcoin set for worst week since March as riskier assets sold off 2

By Ritvik Carvalho and Tom Wilson

LONDON (Reuters) – Bitcoin was headed on Friday for its worst week since March as a rout in global bond markets sent yields flying and sparked a sell-off in riskier assets.

The world’s biggest cryptocurrency slipped as much as 6% to $44,451 before recovering most of its losses.

It was last trading down 1% at $46,671, on course for a drop of almost 20% this week, which would be its heaviest weekly loss since March last year, when fears over the novel coronavirus caused havoc in financial markets.

The sell-off echoed that in equity markets, where European stocks tumbled as much as 1.5%, with concerns over lofty valuations also hammering demand. Asian stocks fell by the most in nine months.

“When flight to safety mode is on, it is the riskier investments that get pulled first,” Denis Vinokourov of London-based cryptocurrency exchange BeQuant wrote in a note.

Bitcoin has risen about 60% from the start of the year, hitting an all-time high of $58,354 this month as mainstream companies such as Tesla Inc and Mastercard Inc embraced cryptocurrencies.

Grayscale’s Bitcoin Trust, which has seen huge inflows amid the heightened interest in cryptocurrencies and manages almost $33 billion in assets, was down 5.5% versus its previous close at $45.63.

The Purpose Bitcoin ETF, which became this month the world’s first exchange traded fund physically settled by bitcoin, last traded at $7.41 versus a net asset value of $9.36.

Its stunning gains in recent months have led to concerns from investment banks over sky-high valuations and calls from governments and financial regulators for tighter regulation.

(Reporting by Ritvik Carvalho and Tom Wilson; editing by Dhara Ranasinghe, Karin Strohecker, William Maclean)

 

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Sterling knocked back by bond rout and inflation fears

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Sterling knocked back by bond rout and inflation fears 3

By Joice Alves

LONDON (Reuters) – Sterling fell against a stronger dollar on Friday, retreating from a three-year high touched earlier this week, as a rout in global bond markets sent yields flying and hurt the pound, while the Bank of England warned of inflation risks.

After rising above $1.42 for the first time in three years earlier this week, the pound fell to $1.3890 at 1059 GMT, its lowest since Feb. 18..

Versus the euro, the pound fell 0.1% 87.03, after hitting a 10-day low of 87.30 pence in earlier trading..

Bank of England Chief Economist Andy Haldane warned on Friday of a risk that inflation will prove difficult to keep under control as the economy recovers from the pandemic.

Analysts also attributed sterling’s fall on Friday to a sell-off in bond markets.

Benchmark U.S. Treasury yields vaulted to their highest since the pandemic began, driven by the prospect of accelerating growth and inflation that could trigger a faster rise in interest rates than many expect. Gilt yields also rose sharply on Thursday.

“The aggressive Cable capitulation has seen macro and leveraged players retreating from an increasingly overbought market,” said Jeremy Stretch, head of G10 FX strategy at CIBC Capital Markets.

“The correction came as the UK curve 2-10 flattened by 2bp yesterday and short sterling rallied into the close”.

The pound has strengthened about 2% this year as traders expect Britain’s speedy vaccine roll-out will help the economy rebound from its biggest contraction in 300 years.

Relief over a Brexit trade deal and pushed back expectations for negative interest rates from the Bank of England had also supported sterling.

Sterling was still on track for its fifth consecutive month of gains against the greenback and the euro, with analysts maintaining a positive outlook on the currency.

Sterling knocked back by bond rout and inflation fears 4

(For graphic of Sterling monthly performance – https://fingfx.thomsonreuters.com/gfx/mkt/oakperraqvr/Sterling%20monthly%20performance.png)

(Editing by William Maclean)

 

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