U.S. stock index futures are trading mixed on Tuesday, with investors monitoring ongoing geopolitical tensions in the Middle East, rising bond yields, and the active quarterly earnings season. Wall Street’s major indexes posted significant losses on Monday, extending last week’s declines, as a series of bearish signals prompted investors to take profits following the strong […]
Dollar rises to five-month high, sterling falls
When it comes to understanding how the currency market operates, knowing what is going on around the world is vital. The U.S. dollar continues to enjoy strong demand at the start of the European trading day, reaching five-month highs, while sterling falls despite positive wage data. Retail sales push the dollar higher The safe-haven U.S. dollar […]
Bitcoin surges after ETF approval in Hong Kong
The price of Bitcoin (BTC) and Ether (ETH) have risen sharply in Hong Kong after several applicants claimed to have obtained approval for exchange-traded funds (ETFS) in cryptocurrencies. Market analysts note that Bitcoin’s price has increased by about 2.8% in the last 24 hours, trading above USD 66,500, while Ether has reached USD 3,240. Details […]
U.S. stocks rebound today, Monday
U.S. stocks rallied on Monday, showing signs of recovery after last week’s significant losses, supported by strong earnings from banking giant Goldman Sachs. In today’s trading, the Dow Jones Industrial Average was up 1%, while the S&P 500 was up 0.8% and the NASDAQ was up 0.5%. Goldman Sachs attracts attention with its profits Wall […]
U.S. stocks down after poor quarterly results from banks
U.S. stocks fell on Friday after disappointing results from several of the country’s major banks raised uncertainty about the strength of the upcoming earnings season. U.S. stock markets fell after big banks disappointed with their quarterly results. The major banks presented their results Shares of JPMorgan Chase (JPM) fell nearly 4% after the banking giant […]
Mica Law may lead to an increase in cryptocurrency transactions in euros
ESMA estimates that the Mica Law may become a “booster” for euro cryptocurrency transactions. In one of its latest reports, the European Securities and Markets Authority (ESMA), the European Union’s securities regulator, has noted that the Mica Law has not yet driven any increase in cryptocurrency transactions. According to the regulator, the announcement of the […]
Dollar stumbles after economic data
In an unexpected move in the financial markets, the dollar (USD) experienced a drop this Thursday after the release of U.S. producer price data for March, which was lower than expected. This has partially alleviated market concerns about the resilience of inflation, opening the door to possible rate cuts by the Federal Reserve (Fed). Key […]
Joe Biden proposes tax on cryptocurrency mining
U.S. President Joe Biden’s cryptocurrency mining tax proposal is one of the more ambiguous elements of his budget proposal for next year. Biden seeks to impose a new 30% tax on the electricity used by Bitcoin miners, regardless of its source. This means that many miners may possibly relocate to other countries. President Biden in […]
U.S. inflation rises again
The U.S. core inflation index beat estimates for the third consecutive month, a persistent sign of price pressures that will likely delay any interest rate cut by the Federal Reserve (Fed) until later this year. The underlying consumer price index, which excludes energy and food, rose 0.4% from February, according to data released by the […]
According to Ripple’s CEO, the crypto market will reach $5 trillion this year
Brad Garlinghouse, the CEO of blockchain startup Ripple (XRP), is estimating a massive year for the cryptocurrency market, with the option of a possible doubling of its total market capitalization nearing $5 trillion by the end of this year. Garlinghouse attributed this anticipated rise to several macro factors, including the introduction of the first Bitcoin […]