U.S. stock indices rose on Thursday, extending their gains after signs of a slight decline in consumer inflation pushed Wall Street to record highs on hopes of interest rate cuts. The S&P 500 rose 1.2%, the NASDAQ Composite 1.4%, and the Dow Jones Industrial Average 0.9%, bringing all three indices to all-time highs by the […]
Dollar steady after CPI slump; EUR loses some of its gains
The US dollar is steady on Thursday after hitting multi-week lows in the wake of a weak US inflation report, which again put the focus back on the Fed’s rate cuts. Dollar on downtrend after key inflation data The dollar continued to slide after the latest US inflation data prompted expectations that the Federal Reserve would likely make two interest rate cuts this year, […]
El Salvador mines 474 Bitcoin thanks to volcanic geothermal power
El Salvador currently holds 5,750 BTC, valued at approximately USD 354 million, accumulated over nearly three years. Since 2021, El Salvador has mined a total of 474 Bitcoin, valued at USD 29 million, using environmentally friendly volcanic geothermal energy. Bitcoin was mined using energy from the Tecapa volcano, employing about 300 mining processors. According to Reuters, […]
EUR/USD Ahead of Decisive U.S. Data
The EUR/USD is trading near its highest level in over a month, ahead of the release of crucial US inflation data that is expected to significantly impact the Fed’s monetary policy outlook. As currency markets await key data from the world’s leading economy, which will impact the dollar and overall market sentiment, earlier strong wage […]
Stock indices remain unchanged ahead of CPI report
US stock index futures traded flat on Wednesday, in anticipation of the monthly Consumer Price Index, which could shed more light on the future of the Federal Reserve’s monetary policy. On Tuesday, Wall Street’s major indices saw gains: the S&P 500 rose about 0.5%, the Dow Jones Industrial Average increased by 0.3%, and the NASDAQ […]
Biden orders removal of Chinese cryptocurrency near missile base
President Joe Biden said that entities owned by Chinese nationals ‘could take actions that threaten the national security of the United States. US President Joe Biden has signed an order barring a cryptocurrency mining company with ties to China from continuing to use land near a Wyoming nuclear missile defense base. Issued by the White […]
U.S. stocks fall after PPI release
US stocks traded flat on Tuesday as investors remained cautious ahead of the release of key inflation-related data that could determine the Federal Reserve’s monetary policy outlook. This lull in US futures trading continued a similar session on Wall Street, as investors awaited more clues about interest rates from inflation readings due both Tuesday and Wednesday. The S&P 500 closed flat, the Dow […]
Dollar unchanged ahead of inflation data while pound loses ground after employment figures
The US dollar remained unchanged on Tuesday, awaiting the release of key inflation data that will likely influence future interest rate decisions. Dollar unchanged in anticipation of inflation data The dollar, along with the currency market, has started the week quietly, awaiting the latest data on US inflation, which is likely to determine near-term sentiment […]
Outlook for This Week’s Most Important Economic Events
Key points to watch out for: Attention focuses on US CPI figures At its meeting a few weeks ago, the Fed was less hawkish than previously thought, with Chairman Powell ruling out further rate hikes and making it clear that they are not yet inclined to cut rates. The softer than expected April employment report confirmed this view, which was supported by […]
Trump secures a bigger tax cut: Effects on the crypto industry
Not long after expressing his support for the cryptocurrency industry and accusing his opponent in the US presidential race, Joe Biden, of animosity towards the sector, President Donald Trump has signaled major tax cuts if elected. Trump also referenced President Biden’s latest proposal, which would introduce new and increased capital gains taxes potentially impacting crypto […]