On Friday, the U.S. dollar is barely losing ground, with market activity quiet ahead of the monthly U.S. jobs report. Meanwhile, the yen is on track for its worst weekly loss in almost a year. The dollar awaits the jobs report The dollar has been in a downtrend for most of the week, following comments by Federal […]
Tether reports its best quarterly profit ever
Tether reported a record quarterly profit of USD $4.52 billion for the first quarter of 2024, largely attributable to its investments in Bitcoin and gold. Tether, the stablecoin issuer, generated its highest revenue in history during the first quarter of 2024, while the cryptocurrency market experienced a significant upward trend. In a recently published financial […]
U.S. stock prices rise
On Thursday, stock index futures rose as investors digested Federal Reserve Chairman Jerome Powell’s comments ahead of Apple’s earnings release. Wall Street’s major indexes closed mixed yesterday, with the Dow Jones Industrial Average gaining about 0.2%, while the Nasdaq Composite and the S&P 500 each fell about 0.3%. Powell says next move will be a cut, though […]
Dollar stabilizes after Powell’s speech
The U.S. dollar stabilized on Thursday after a significant overnight loss, following Federal Reserve Chairman Jerome Powell’s firm dismissal of further rate hikes this year, while the Japanese yen experienced volatility amid speculation of potential intervention. Powell dismisses further rate hikes Federal Reserve Chairman Jerome Powell stated that the battle against inflation is more prolonged than […]
U.S. stocks decline ahead of Fed meeting
U.S. markets declined on Tuesday as the rally in the technology sector appeared to lose steam ahead of the Federal Reserve’s latest meeting. Wall Street’s major indexes closed Monday with modest gains, continuing their upward trend over the last three sessions. However, they are set to post April losses of around 2.4% and 3.6%, due largely […]
Dollar moves in expectation of meeting, Yen loses ground
The U.S. dollar strengthened on Tuesday ahead of the Federal Reserve’s latest policy meeting on interest rates, while the Japanese yen weakened following suspected government intervention. Fed meeting approaching On a general view, the dollar has been in high demand this month, as a series of stronger-than-expected U.S. inflation data has caused currency market investors […]
Outlook for this week’s most important economic events
Key points to watch out for: Could the Fed jeopardize rate cut expectations? This week will be busy for the US dollar, with the Federal Open Market Committee (FOMC) meeting and the April employment report among other data releases likely to keep market traders on their toes. The main focus during the first half of […]
Australian Securities Exchange may approve Bitcoin ETFs
According to Bloomberg, the Australian Securities Exchange (ASX) may approve a group of spot bitcoin ETFs by the end of 2024. The report notes that several issuers, including VanEck and local firms BetaShares and DIGITALX, have already submitted their ETF applications earlier this year. DigitalX filed its documents in February, concurrently with VanEck re-filing its […]
U.S. stock markets rose
U.S. stocks rose on Monday, buoyed by strong earnings from electric car maker Tesla ahead of the upcoming Federal Reserve meeting. Additionally, last week’s strong first-quarter earnings from tech giants Alphabet (GOOGL) and Microsoft (MSFT) sparked a tech industry rally, with momentum expected to continue this week. Earnings season continues This Monday marked the continuation […]
Dollar loses ground, Yen soars
For those following currency market trends, the U.S. dollar lost ground on Monday ahead of the Federal Reserve’s latest meeting, while the yen soared on speculation that Japanese authorities have intervened to support the currency. PCE data points to an untimely rate cut Despite gaining about 1% this month, the dollar lost ground in early […]