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 […]
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 […]
U.S. stocks rise on Monday ahead of inflation report
US stocks rose on Monday, trading in tight ranges ahead of the release of key inflation data due later this week, which is likely to influence the interest rate environment. Wall Street indices started the new week on a positive note, building on three consecutive weeks of gains, buoyed by strong results and the prospect of potential interest rate cuts […]
Dollar Down: Stabilizes After Key Inflation Data
The US dollar edged lower on Monday, consolidating after recent swings, as attention shifted to upcoming US inflation data for guidance on interest rates. The dollar awaits important inflation data Last week, the dollar experienced significant swings as mixed US economic data cast doubt on the timing of Federal Reserve rate cuts this year. However, […]
U.S. lawmakers vote to reverse a law barring banks from holding cryptocurrencies in custody
Lawmakers in the US House of Representatives have voted to approve a reversal of an SEC rule on digital asset custody accounting, framed in the regulator’s Special Accounting Bulletin No. 121. The rule virtually prevents commercial banks from offering their customers services related to cryptocurrency and digital asset custody due to the strict regulatory requirements […]
U.S. stocks are lower and Fed remarks in focus
U.S. stocks and major indices retreated on Thursday as the recent rally stalled, with investors digesting corporate earnings along with hawkish comments from Federal Reserve officials. Wall Street’s latest rally came to an end on Wednesday as a series of Federal Reserve officials signaled that the Fed was more likely to hold interest rates this […]
Dollar rises after Fed statement, pound loses ahead of meeting
The U.S. dollar gained ground on Thursday, trading in a tight range ahead of important U.S. inflation data next week, while the pound lost ground ahead of the Bank of England meeting. Tight trading range ahead of US CPI The dollar managed to stabilize this week, after the sharp losses of the previous week, as […]
U.S. stocks fall with corporate earnings in focus ahead of Fed statement
U.S. stocks fell Wednesday, with investors digesting a slew of corporate earnings in anticipation of more statements from Federal Reserve policymakers. More statements from the Fed Growing optimism about a likely interest rate cut has been dampened by a series of Fed officials who have indicated that interest rates will remain unchanged in the near term. Minneapolis Fed President Neel […]