The U.S. dollar declined on Tuesday, although it remained near its recent highs in an environment marked by uncertainty related to the pace of interest rate cuts as the date for the U.S. presidential election approaches. Dollar Benefited from Rising Yields The dollar retreated slightly on Tuesday, despite benefiting from a rise in the yield […]
Market Highlights for the Week: Tesla, IMF, and Oil
Tesla will be the first of the “Magnificent Seven” to report in the corporate earnings season. Global financial leaders will meet in Washington, and oil prices remain volatile. Here’s a look at what’s happening in the markets this week. Tesla Reports Its Results As earnings season picks up momentum, Tesla (TSLA) will be one of […]
Dollar Gains on Cut in Rate Expectations, Pound Falls on Inflation
The U.S. dollar rose Monday, maintaining its recent strength as the election for U.S. president approaches and polls point to a growing likelihood that former President Donald Trump will be the winner. Dollar Boosted by Confidence in Trump The dollar remained near its highest levels in over two months, bolstered by growing confidence that U.S. […]
Elon Musk’s Tesla Moves $760 Million in Bitcoin, Raising Fears of a Massive Liquidation
The cryptocurrency community is abuzz with rumors following Tesla’s transfer of a sizable portion of its Bitcoin (BTC) holdings. More than 11,500 BTC were transferred from wallets linked to the electric car giant to unknown addresses, raising concerns about a potential liquidation. However, despite these transactions, there are no clear indications that Tesla intends to […]
Dollar Gains on Cut in Rate Expectations, Pound Falls on Inflation
The U.S. dollar rose on Wednesday, trading near two-month highs on expectations that the Federal Reserve will slightly cut interest rates this year, while the pound slipped after positive inflation data. Dollar Benefits from Expectations of a Rate Cut Recent data indicating a resilient economy, combined with slightly higher-than-expected inflation in September, has led market […]
United Arab Emirates Approves First Dirham-Linked Stablecoin
AED Stablecoin Company announced that it has received the first approval from the UAE Central Bank to issue a dirham-backed stablecoin. The United Arab Emirates (UAE) will soon see its first regulated stablecoin. AED Stablecoin LLC has announced that it has received approval in principle from the UAE Central Bank to issue and establish its […]
Dollar Falls from Highs, Euro Under Pressure on Weak Inflation Data
The U.S. dollar fell from recent highs on Tuesday as weak regional inflation data weighed on the euro ahead of the European Central Bank (ECB) meeting. Dollar Falls from Highs In recent weeks, demand for the U.S. dollar has been boosted by employment and inflation data, which suggest a slower pace of rate cuts by […]
U.S. Dollar Strengthens as Key Economic Reports Loom
The U.S. dollar rose on Wednesday in anticipation of U.S. interest rate estimates, while the euro lost ground. The dollar has seen a surge in demand since last week’s strong Friday payrolls report led the market to largely dismiss the option of another 50 basis point cut for November in favor of a much more […]
Dollar Falls from Highs, Euro Gains on Strong German Data
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 […]
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 […]