Litecoin fluctuate higher to 1% or nearly $0.6 on Thursday, resuming its rebound from its lowest since March 6 for the second session in three sessions, in addition to shrinking its losses from earlier this week following last week's extended gains as Venezuela's allowed Bitcoin and Litecoin as money-transfer methods to circumvent US economic sanctions.

At 05:29 GMT GMT, Litecoin rose 0.99% to $56.966 compared to the opening level of $56.379, after reaching a high of $57.366 , while the lowest at $56.120.

Venezuelan President Nicolas Maduro's decision to cut off diplomatic ties with the United States and accuse his counterpart Donald Trump of sabotaging the political situation in his country. The Government stated that the presence of diplomats on its territory poses a threat to the unity and security of the country.

This came after reports of the United States imposing new economic sanctions on the Moscow-based Evrofinance Mosnarbank, citing the move that the Russian bank has financed activities supported by Venezuelan perto-cryptocurrency which is baked by the country's oil reserves, all as part of US action to cut off financial supplies to Maduro's government, which could boost demand for the Bitcoin and Litecoin to circumvent US economic sanctions.

It also worth mentioning that at the end of last week, after testing $60 for the first time in five months, Litecoin saw corrections to its gains, before this corrective actions widened earlier this week amid a report on the rise in money laundering operations linked to the cryptocurrencies in Japan The the world's second-largest cryptocurrency market.

In the wake of the Venezuelan government ratification of the Bitcoin and the Litecoin as Money transaction methods within the efforts of avoiding the Economic sanctions that were imposed on them by the US recently., which is still stepping up pressure on Maduro government to overthrow his regime from the largest country with oil reserves in the world, while the latter held power and started efforts to sell his country's oil in currencies other than the US dollar.

The British pound fell on Thursday against a basket of world currencies to ease from an eight-month high against the US dollar earlier in the day, with correction and profit taking activity ahead of the British parliament's postponement of the Brexit deadline On 29 March.

As of 07:45 GMT, The pound fell against the dollar by 0.3% , trading at $1.3275, while opening  at $1.3312, with the highest at $1.3324, and the lowest at $1.3239.

The British pound yesterday gained 1.85% against the US dollar, its biggest daily gain since January 24, 2018, hitting its highest in eight months at $1.3381, after the British parliament rejected a no-deal Brexit.

Parliament voted Wednesday with 312 vs 308, in favor of an amendment put forward by a group of lawmakers that obliges the British government to exclude EU exit without an agreement.

Theresa May's government has previously warned that the country would face political, economic and constitutional challenges if it exited the European Union without an agreement on March 29.

the Parliament passed the second heavy defeat of Prime Minister Theresa May on Tuesday over her Brexit plan with the European Union, deepening the political crisis in the country without any concrete signs of how to get out of the current chaos.

The British parliament will vote later today, on whether the European Union should be asked to postpone the planned Brexit deadline on the 29th of this month for a further period of time. but even If the parliament approves it, it will be a more difficult approval to require the rest of the EU member states to approve that.

US dollar rose during the Asian session to see its rebound for the third session in five of its lowest since the end of February against the Japanese yen, amid a lack of economic data by the Japanese economy, the third largest economy in the world and on the eve of developments and economic data expected Thursday by the US economy.

At 05:44 GMT, USD/JPY rose 0.40% to 111.61 compared to the opening at 111.17 after a high of 111.63 and a low of 111.15.

We have also followed yesterday, the Chief Cabinet Secretary Yoshihide Suga, saying that he believes the Bank of Japan will move forward in its efforts to keep inflation as targeted of2%, and that we are expected to see more efforts by the bank to achieve this goal. This came before the  Meeting of the BOJ tomorrow Friday, during which the central bank's monetary policy makers may offer more flexibility in monetary policy.

On the other hand, markets are looking for the US economy to release a reading of the unemployment claims index for the last week on March 9th, which could reflect a rise of 2K to 225K, in conjunction with the reading of the import price index which may reflect a rise of 0.3 Versus 0.5% in January, while the index's annual reading may show a decline to 1.6% from 1.7%.Leading to the release of the New Residential Sales index, which may reflect a slowdown in growth to 0.2% 622k from 3.7% at 621K last December

Crude oil futures fluctuate higher, rising during the Asian session to reach the highest since mid-November, as the US dollar index rebounded to its second lowest session since the fourth of this month according to the reverse relationship between them, following developments and economic data by China's economy on Thursday , and on the brink of economic developments and data expected by the US economy, the world's largest consumer and oil producer.

At 15:53 ​​GMT, Nymex crude oil futures were up 0.15% at $58.43 per barrel compared to the opening at $58.35 a barrel. Brent crude futures (due 15 May) rose 0.25% to trade at $67.81 per barrel compared to the opening at $67.59 per barrel, while the dollar index rose 0.16% to 96.62 compared to the opening at 96.49.

On the same context, we have followed the Chinese economy, the world's second-largest economy and the world's second-largest industrial nation, the National Bureau of Statistics revealing of the annual reading of retail sales index, which showed a stable growth of 8.2%, unchanged from the previous annual reading of Last January, in contrast to expectations that growth will slow to 8.1%.

The National Bureau of Statistics (NBS) also reported China's annual Industrial Production Index, which showed a slowdown in growth to 5.3% from 5.7% in January's previous reading, beating expectations of a 5.5% slowdown in growth, in addition to unemployment reading, which rose to 5.3% from 4.9% in January.

On the other hand, investors are currently waiting for the US economy to read the index of claims for the last week on March 9th, which could reflect a rise of 2K to 225K, in conjunction with the reading of the import price index which may reflect a rise of 0.3 Versus 0.5% in January, while the index's annual reading may show a decline to 1.6% from 1.7%.

Leading to the release of the New Residential Sales index, which may reflect a slowdown in growth to 0.2% 622k from 3.7% at 621K last December. Otherwise, we followed yesterday US Senator Rob Portman expressing confidence in the American representative Robert Lighthizer and the strength of his country's position in the ongoing trade negotiations with China aimed at resolving trade disputes between the two parties.

In another context, we followed yesterday's the US Energy Information Administration report showed oil inventories deficit of 3.9 million barrels during the week ending on the 7th of march compared to surplus of 7.1 million barrels in the previous weekly reading, contrary to expectations that indicated the reduction of surplus to 2.7 million barrels, To 449.1 million barrels, while stockpiles remain 2% higher than the average of the past five years for this time of year.

In the same context, the report of the US Energy Information Administration showed that the stocks of motor fuel in the United States, the largest consumer of energy worldwide, decreased 4.6 million barrels, while stocks are still 2% higher than the last five-years average of the same time, and inventories of distillate fuel oils including heating fuel rose 0.4 million barrels, whilst being lower than the last five-years average of the same time

On the other hand, we have followed on Wednesday the Secretary-General of OPEC "Mohammed Barkindo" expressing that the possibility of the adoption of the "NOPEC" new bill within the United States, which is to sue OPEC because of its role in the rise of oil prices does not meet the interests of the United States, noting the the organization follow that bill inside the US Congress with interest, adding that the bill has now gained more and more supporters.

Barkindo noted that this is not in the interest of the United States itself nor in favor of the growing oil industry at the moment, and comes hours after he said on Tuesday that the work to restore balance to oil markets is still maintained by OPEC and its allies producers, noting that shale oil companies in the United States have benefited from OPEC's efforts to reduce global oil production, which has boosted oil prices.

Earlier this week, the International Energy Agency (IEA) revealed warnings in its annual report, which reviewed its oil market forecasts over the next five years, of the consequences of Britain's exit from the EU without an agreement and trade tensions that negatively impact global demand for oil. which may lead to the weakening of international trade and demand for oil .

The International Energy Agency (IEA) forecast higher demand for jet fuel as air travelers numbers increase around the world and demand for petrochemicals grow, boosting global demand for oil, which could rise from 100.6 million bpd in 2019 to 106.4 million bpd by 2024, This came in conjunction with the report on the return of oil production in the largest oil fields in Libya, the "Sharara" field.

In another context, the Saudi Energy Minister Khalid al-Falih said on Sunday it was too early to change OPEC's production policy at the group meeting in April, expressing the fact that China-the largest importer of energy globally and the United States-the largest industrial country-will lead to strong global demand for oil this year.

Khalid al-Faleh said that the world demand for oil is expected to increase by 15 million barrels per day. If Venezuela is seen alone, there will be a sense of panic about the lack of oil production. but If the United States is seen in the same spot, there will be a feeling that the world is full of oil, while noting the importance of looking at the market as a whole, with his statement that the expectations reflect the possibility of strong global demand for oil during the current year 2019.

In the same context, the current president of OPEC and UAE Oil Minister Suhail al-Mazroui said on Monday that his country will continue to reduce oil production until the balance and stability of oil markets, according to the opec and its allies' agreement to reduce the global oil production by 1.2 million Barrels per day during the first half of this year.