The U.S. dollar declined on Tuesday, though it remained near seven-week highs, as market traders analyzed the Federal Reserve’s monetary policy estimates following last week’s strong employment report. The Dollar Appears to Be Pausing Friday’s strong payrolls report prompted traders to reassess the Fed’s rate-cutting path, with a 50 basis point cut in November mostly […]
Outlook for the Week of October 07-11
Key points to watch out for: Dollar Rallies on Safe-Haven Flows and Positive Data The U.S. dollar saw a sharp rally last week after Federal Reserve Chairman Jerome Powell hinted at continuing rate hikes of 0.25%, bolstering confidence in the economy.This rally was further supported by safe-haven flows triggered by Iran’s missile strikes on Israel, […]
Cryptocurrencies Exempted from VAT in the United Arab Emirates
The UAE has exempted cryptocurrency transfers and conversions from value-added tax (VAT), making it a more cryptocurrency-friendly jurisdiction for digital asset transactions. The amendments to the UAE’s VAT regulations will exempt transfers and conversions of digital assets, including cryptocurrencies. On October 2, the UAE’s Federal Tax Authority (FTA) made public the amendments to the country’s […]
U.S. Stock Markets Down: Fed, Inflation, Earnings in Spotlight
U.S. stock index futures were lower on Monday, shedding some of the previous week’s gains following strong payrolls data, with attention focused on more hints on interest rates and corporate earnings in the coming days. Wall Street rose sharply on Friday after better-than-expected nonfarm payrolls data eased concerns about a slowing U.S. economy but reduced […]
Dollar Steady on Payroll Gains, Euro Eases on Weak Data
The U.S. dollar stabilized on Monday, holding onto gains from Friday’s strong jobs report, ahead of key inflation data and minutes from the Federal Reserve’s latest meeting. Payrolls Help Boost the Dollar The U.S. dollar stabilized on Monday, holding onto gains from Friday’s strong jobs report, ahead of key inflation data and minutes from the […]
Daily Technical Analysis EUR/USD: Near Its Lowest Level Since Mid-August and Fragile at 1.0975
EUR/USD starts the week with subdued sentiment after last week’s sharp losses, bringing the pair to its lowest level since mid-August following positive U.S. jobs data on Friday. Spot prices are hovering near 1.0975 and appear vulnerable to continuing the sharp pullback from the 14-month highs around 1.1200. The U.S. dollar is strengthening at a […]
Understanding the S&P 500: A Key Market Indicator
The S&P 500, also known as Standard and Poor’s 500, is one of the most recognized stock indexes globally and serves as a barometer of the U.S. stock market’s health. In this article, we will explore its characteristics, the companies that comprise it, and much more. In the world of stock trading, various indexes help […]
Cryptocurrency Markets Reeling From Global Uncertainty Over Middle East Conflict
Bitcoin plummeted as the market reacted to the ongoing conflict between Israel and Iran. On a macroeconomic level, crypto-asset markets have been shaken by the escalation of geopolitical tensions between Iran and Israel, challenging the notion of ‘Uptober’ and raising doubts about the role of digital assets like cryptocurrencies during global crises. As the conflict […]
U.S. Stocks Fall Amid Middle East Tensions, Nike and ADP Payrolls in Focus
U.S. stocks fell on Wednesday, as escalating tensions in the Middle East and disappointing news from sportswear giant Nike weighed heavily on investor sentiment. On Tuesday, the major indexes recorded a negative session on Wall Street, the first trading day of the new month and quarter, following Iran’s launch of ballistic missiles at Israel in […]
Dollar Benefits from Safe-Haven Status Amid Middle East Tensions
The U.S. dollar rose on Wednesday, benefiting from its safe-haven status and building on the strong gains from the previous session. This came after a missile attack by Iran on Israel, which further escalated tensions in the region. Dollar Rises Amid Middle East Escalation The turmoil in the Middle East intensified overnight, with Iran launching […]