South African Rand Dollar Forecast: USD/ZAR Gains as Protests and Lockdowns Overshadow Muted Dollar dailyfx.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailyfx.com Daily Mail and Mail on Sunday newspapers.
Michael Burry âBig Shortâ on Tesla Stock Revealed Ahead of Key FOMC Minutes
Tesla Stock, Michael Burry, FOMC Minutes – Talking Points
‘The Big Short’ famed Michael Burry placed $530 million worth of puts against Tesla
FOMC meeting minutes are in focus ahead as inflation fears escalate, is tapering coming?
Are Michael Burry, Bill Ackman and Warren Buffet right to be concerned about Tesla?
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Michael Burry gained his reputation as a prominent short-seller after successfully predicting the 2008 Financial Crisis, a move that resulted in the creation of the film ‘The Big Short’. Although Burry has remained relatively silent since the disclosure of Scion Asset Management’s FY2021 Q1 balance sheet has been bought into public attention recently. His private investment firm reported an astonishing $534 Million worth of Tesla puts in the first quarter. In other words, he is betting against Tesla.
Bitcoin (BTC/USD) Tanks, but Buyers React
Bitcoin (BTC/USD), Ethereum (ETH/USD) Talking Points:
Bitcoin (BTC/USD) tanked and then bounced ahead of the release of FOMC Meeting Minutes
Ethereum (ETH/USD) temporarily falls below $2,000, recovers above $2,500
Elon Musk becomes crypto villain as crypto market cap dissipates
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It’s been a brutal day for Bitcoin and its disciples after a sell-off in digital currencies wiped out almost $1 Trillion from the total crypto market cap, confirming the speculative rhetoric of the cryptocurrency realm.
Since February 2021, Tesla CEO Elon Musk has remained a fundamental driver of price action amongst the cryptocurrency landscape, supported by risk-on sentiment and an increase in institution interest for digital assets.
South African Rand Dollar Price Forecast: USD/ZAR Inflationary Battle Persists Ahead of SARB and FOMC
USD/ZAR Talking Points:
Fundamentals may further catalyze price action ahead of FOMC and SARB announcements
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The South African Rand has maintained its strength against major currencies as the US Dollar struggles to recover. With risk sentiment currently supporting Emerging Market (EM) currencies, rising commodity prices have further assisted in the catalyzation of price action, allowing the volatile Rand to maintain its bullish narrative, at least for now.
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