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Venezuelan President announces 'Petro' Oil-backed cryptocurrency

Venezuelan President Nicolas Maduro announced on Sunday the launch of the “petro” backed by oil reserves to rescue a collapsed economy, as reported by Reuters.

Maduro said in his regular Sunday televised broadcast: “Venezuela will create a cryptocurrency,” backed by oil, gas, gold and diamond reserves, adding that this would help Venezuela “advance in issues of monetary sovereignty, to make financial transactions and overcome the financial blockade.”

US: looking for a 0.4% m/m decline in factory orders – TDS

Analysts at TDS suggest that the US factory orders for October the lone data release and the market is looking for a 0.4% m/m decline. Key Quotes “D
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UK’s Davis: Everybody understands decision to move Brexit talks onto trade is ‘vital’

The UK’s Brexit Secretary David Davis is on the wires now, via Livesquawk, noting that everybody understands the decision to move Brexit talks onto tr
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