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 […]
5 key events on Wall Street today, April 9
Federal Reserve (Fed) policymakers continue to express their stance on possible interest rate cuts in anticipation of the release of key inflation-related data. Taiwan Semiconductor Manufacturing has hit new highs, while HSBC has seen its shares fall after selling its Argentina unit. Here are the five most important issues to watch for this Tuesday, April 9. […]
U.S. stocks rise though cautious ahead of inflation data release
U.S. stocks are higher on Monday, recovering from last week’s decline, with investors looking ahead to the release of the latest inflation reading as well as the start of earnings season for the first quarter. Wall Street started this week with positive numbers following last Friday’s gains, which exceeded expectations for non-farm payrolls. This recovery […]
Bitcoin nears all-time high two weeks before halving
Days of high volatility and volume are expected for both Bitcoin (BTC) and other cryptocurrencies. Bitcoin has once again surpassed $72,000, a price not seen since mid-March. This suggests a potential mini rally leading up to the halving event on April 20, just two weeks away. The approval of Bitcoin ETFs in the United States […]
5 key events on Wall Street today
All attention is focused on the release of the expected U.S. monthly employment report, looking for clues as to when the Federal Reserve (Fed) will begin cutting interest rates. Apple (AAPL) has reported its first job cuts since pandemic times, while Treasury Secretary Janet Yellen is visiting China. Here are the five most important things to […]
Wall Street is upbeat: hopes for rate cuts boost stocks
U.S. stocks opened higher on Thursday after disappointing weekly jobless claims data raised the possibility of early interest rate cuts by the Federal Reserve (Fed). Fed Chairman Jerome Powell has given few clues related to rate cuts as the non-farm payrolls report approaches. The number of Americans filing for unemployment benefits increased more than the […]