EUR/USD prices attempted to rebound last week, reaching the resistance level at 1.0753. However, the dollar recovered strongly after consumer spending data showed stronger-than-expected growth in the first quarter of the year. Recently, EUR/USD dipped to 1.0674 support before ending the week around 1.0692. On the other hand, the dollar remained in the spotlight ahead […]
Yen hits new 34-year low
The yen (JPY) has lost nearly 10% of its value against the dollar this year, becoming the worst-performing G10 currency. It hit a new 34-year low and breached the 157 level against the dollar (USD) after the Bank of Japan signaled that monetary policy would remain loose, fueling speculation that Japanese authorities might soon intervene […]
U.S. stocks rise on strong results from Microsoft and Alphabet
U.S. stocks gained momentum on Friday after new inflation data alleviated fears of rate cut delays, buoyed by stronger-than-expected earnings from tech giants Microsoft and Alphabet. PCE data in line with estimates Data released Friday showed that the personal consumption expenditures (PCE) price index rose 0.3% from March, as expected. In the 12 months through […]
The U.S. Securities and Exchange Commission (SEC) is likely to reject spot Ether ETFs next month.
While there is evidence suggesting the SEC is likely to postpone the approval of spot Ether ETFs, Hong Kong is set to begin trading its own spot Ether ETFs next week. A recent report indicates that the U.S. Securities and Exchange Commission (SEC) is expected to deny Ether spot ETFs in May Reuters reported on […]
U.S. stocks retreat on weak economic progress and disappointing estimates from Meta Platforms
U.S. stocks fell sharply on Thursday, weighed down by signs of slowing economic growth and disappointing second-quarter forecasts from technology giant Meta Platforms (META). U.S. GDP growth in the first quarter disappoints The U.S. economy grew by 1.6% in the first quarter on a year-over-year basis, according to data released on Thursday. This growth marks […]
U.S. stocks rise thanks to the technology sector
U.S. stocks mostly rose on Wednesday, bolstered by positive results from Tesla, one of the market’s largest technology companies to report its first-quarter performance early. Wall Street buoyed by tech companies’ rally ahead of results from big names Tesla (TSLA) shares rose 12%, rebounding from a 15-year low hit earlier in the week, after the electric vehicle maker […]
Dollar falls, Euro reverses a portion of its gains
The dollar regained ground in the European trading session on Wednesday after the previous day’s decline, as market participants closely watched for further signals about the Federal Reserve’s future monetary policy intentions. Slowing economic growth weighs on the dollar The easing of tensions in the Middle East, after Iran signaled that it does not want to […]
Daily technical analysis EUR/USD: The trend continues downwards
The EUR/USD is expected to show strength this week, though it is likely to stay above the psychological support level of 1.05. According to several forex analysts, the euro is under pressure against the dollar as markets anticipate the European Central Bank independently proceeding with rate cuts in June, without mirroring similar actions by the […]
PayPal’s Blockchain Research Group, in collaboration with non-profit
This week, PayPal’s Blockchain Research Group, in collaboration with the non-profit organization EnergyWeb, unveiled a new initiative to incentivize Bitcoin miners to employ clean energy in their operations. The project offers a financial reward to network participants who commit to and certify an environmentally friendly approach. Bitcoin mining is a procedure in which participants, known […]
U.S. stocks trade higher; earnings in focus, with Tesla leading among tech giant
U.S. stocks are pointing to a rally on Tuesday as investors digest a flurry of quarterly earnings ahead of the release of results from some of the country’s most prominent tech companies later in the week. The easing of concerns about a major conflict in the Middle East, following Iran’s lack of immediate response to Israel, has […]