The U.S. dollar retreated on Monday amid political uncertainty ahead of Tuesday’s presidential election and also amid expectations that the Federal Reserve will cut interest rates this week. The dollar index, which analyzes the greenback against a basket of six other currencies, fell 0.5% to 103.695, after strong gains in October. Dollar slips ahead of […]
Tether Strengthens Reserves with Bitcoin, Gold, and Treasury Bonds for Added Stability
Tether’s CEO, Paolo Ardoino, recently updated the public on the company’s Bitcoin and other asset reserves via the platform X. Ardoino stated that Tether holds over 82,000 Bitcoin (BTC), valued at approximately $5.8 billion based on the current Bitcoin price of $72,433. Tether’s Reserves: Bitcoin, U.S. Treasury Bonds, and Gold Besides its substantial Bitcoin holdings, […]
Dollar Slows Gains on Jobs Data, Euro Gains on German GDP
The U.S. dollar eased from recent highs on Wednesday, pausing its rally as markets awaited key macroeconomic data that could impact expectations for Federal Reserve rate cuts. Dollar Eases Amid Labor Market Data The dollar has strengthened recently, bolstered by signs of economic resilience that have led traders to reconsider the pace of Federal Reserve […]
Canadians Reluctant to Adopt Digital Dollar, Says Bank of Canada
Research by the Bank of Canada has shown mixed views on the adoption of a Canadian digital dollar. Canadian consumers expressed skepticism about early adoption of a central bank digital currency (CBDC) introduced by the Bank of Canada. A research paper released by the Bank on October 28 highlighted Canadians’ long-standing preference for traditional payment […]
Dollar Stabilizes Amid Upcoming Key Economic Data
The U.S. dollar held firm on Tuesday as markets awaited a series of critical economic data releases this week, while Japan’s yen hovered near three-month lows amid heightened political uncertainty. Upcoming Data Releases Hold Market Attention The dollar has recently been supported by economic indicators highlighting the resilience of the U.S. economy, leading investors to […]
Market Highlights for the Week: Employment, GDP, and Tech Results
This week promises to be eventful in the markets, with U.S. employment and GDP data releases and significant earnings reports from major tech companies. As the U.S. presidential election and the Federal Reserve’s November meeting approach, volatility is expected to persist. Here’s what to watch in the markets this week: Non-Farm Payrolls Friday’s employment report […]
Dollar Stable as Data-Heavy Week Begins, Euro Inches Higher
The U.S. dollar held steady on Monday, positioned for a strong monthly gain, while the euro remained mostly flat at the outset of a busy week for economic data. In recent weeks, the dollar has gained momentum amid rising expectations of fewer rate cuts by the Federal Reserve, thanks to reasonably positive U.S. economic data. […]
Bitcoin Options Traders Eye $80,000 in November
Bitcoin (BTC) options traders are targeting a price of $80,000 for the last days of November, regardless of the outcome of the U.S. presidential election. Open interest (OI) for Bitcoin call contracts expiring at the end of November is concentrated around $80,000, according to data from cryptocurrency exchange Deribit, cited by Bloomberg. The expiration date […]
Dollar Hits Record Highs, Political Concerns Drive Safe-Haven Demand
The dollar reached new highs on Wednesday as uncertainty over U.S. interest rates and the upcoming presidential election continued to support safe-haven demand. Risks Point to Dollar Bullishness The dollar has reached its highest level since early August as positive economic data has reduced expectations of aggressive interest rate cuts by the Federal Reserve. According […]
Ripple Co-Founder Pledges $10 Million to Kamala Harris’ Campaign
Ripple co-founder Chris Larsen has recently contributed more than $10 million to fund the U.S. presidential campaign of Democratic candidate Kamala Harris. Harris Campaign Funding The recent revelations about these donations come from several reports released today, citing data submitted by the U.S. Federal Election Commission (FEC). According to this information, Larsen has donated approximately […]