U.S. stocks traded mixed ahead of a new month of trading after Wall Street’s major indexes posted strong gains in May. Bets on a rate cut in September increase after PCE data Wall Street indexes rose on Friday after data on the personal consumption expenditures price index, which is the Fed’s preferred indicator, met expectations […]
Ethereum readies its next major modernization called Pectra
It has been barely two months since Ethereum implemented its most recent network update. Currently, the heads of the world’s largest smart contracts blockchain are discussing a timeline for the next update. Ethereum’s top developers have set a goal of unveiling the next update, called Petra, by the first quarter of 2025, The Block reported […]
U.S. stock markets retreat from highs; Fed and Salesforce in focus
US stock indices fell on Wednesday and fluctuated after the Nasdaq index hit new highs, with attention focused on upcoming inflation data and more signals about interest rates. The Nasdaq Composite ended Tuesday up 0.6% at a new all-time high, supported by strong gains in Nvidia (NVDA), Wall Street’s third-biggest stock by market capitalization. The S&P 500 […]
Dollar rallies on rising yields, euro on inflation expectations
In the early hours of Wednesday’s European session, the US dollar moved strongly in anticipation of key inflation data, taking advantage of growing expectations that the Federal Reserve will delay interest rate cuts until the end of the year. The dollar benefited from rising yields The dollar remains in a narrow range as traders cautiously […]
Bitcoin trading today: around $68k, ether rises on ETF spot gains
Bitcoin prices were little changed on Monday on concerns over higher interest rates ahead of key US inflation data this week, while ether saw an extended rally on progress made on the creation of a spot exchange-traded fund. Other cryptocurrency prices were also subdued, as traders continued to lean towards the dollar amid waning optimism […]
Dollar unchanged ahead of inflation this week
Most currencies in Europe and Asia were flat on Monday, while the dollar was unchanged in thin trading, awaiting more interest rate signals from the US ahead of key inflation data this week. Public holidays in the US and the UK limited market trading volumes. Similarly, most regional currencies experienced losses the previous week, after a series […]
Venezuela has banned crypto mining to guarantee electricity service throughout the country
The move is part of a recent crackdown that involves the confiscation of nearly 2,000 cryptocurrency mining devices in the fight against corruption. The Venezuelan government has joined the list of countries that disapprove of cryptocurrency mining due to its high electricity costs. According to a local news outlet, Venezuela’s Ministry of People’s Power for Electrical Energy has reported […]
U.S. stocks rise as more results and clues are awaited
US stock indices are barely higher on Monday, with sentiment somewhat guardedly optimistic as more signals about interest rates and earnings are expected this week. More signals from the Fed and PMI data are expected this week This week, the focus will be on further signals from the Federal Reserve about the future of interest rates, as […]
Ahead of the FOMC minutes and Fed speeches, the dollar remains steady
On Monday, the US dollar started the week steady, amid anticipation of upcoming changes to US interest rates. Dollar steady in anticipation of Fed minutes and new speakers Last week, the slowdown in US inflation influenced the dollar by increasing the likelihood of a Federal Reserve interest rate cut this year. However, the dollar recovered somewhat after […]
U.S. stocks rise slightly; await Walmart results
U.S. stock indices rose on Thursday, extending their gains after signs of a slight decline in consumer inflation pushed Wall Street to record highs on hopes of interest rate cuts. The S&P 500 rose 1.2%, the NASDAQ Composite 1.4%, and the Dow Jones Industrial Average 0.9%, bringing all three indices to all-time highs by the […]