The cryptocurrency industry is influencing this year’s elections, to which it has contributed $119 million. Cryptocurrencies as major political backers Cryptocurrency companies have morphed into the biggest political funders of federal elections, contributing nearly half of the corporate money going into this year’s elections, according to data from the nonprofit consumer advocacy organization Public Citizen. […]
Market Highlights for the Week: Nvidia, Inflation, Gold
The rally in U.S. markets will come under scrutiny this week when chip manufacturing giant Nvidia’s (NVDA) results are released. U.S. inflation data is likely to bolster expectations for long-awaited rate cuts, while the Eurozone and Australia will also release inflation data that will influence the path of interest rates. Here is a summary of […]
U.S. Stock Markets Rise With Rate Cuts and Nvidia Results Leading the Way
U.S. stock indices were slightly higher on Monday, with markets taking a breather after a week of strong gains amid growing expectations of an interest rate cut by the Federal Reserve. Caution mainly gripped the markets ahead of several important events this week, most notably the results of NVIDIA Corporation (NVDA), one of the market’s […]
Daily Technical Analysis EUR/USD: Moves Up to Around 1.1200 on Powell’s Conservative Fed Stance
The EUR/USD is extending its gains for the second session in a row, trading around 1.1190 during the Asian session on Monday. This rise in EUR/USD follows the weaker US dollar after the Fed Chairman’s dovish-sounding speech at the Jackson Hole Symposium last Friday. Fed Chairman Jerome Powell said, “The time has come to tighten […]
Tap into Trading Success: Your Guide to Social Trading
If you are wondering whether social trading is the right strategy for you, you’ve come to the right place. In this article, we will explain what social trading is and provide vital information to help you determine if this strategy suits your needs and goals in the financial sector. Basically, this strategy is based on […]
Tether Launches Dirham-Backed Stablecoin in the UAE
Tether is partnering with Phoenix Group and Green Acorn Investments in the United Arab Emirates to create a dirham-linked stablecoin aimed at facilitating international trade and remittances. Tether, the largest stablecoin provider in the digital asset sector, has announced its plans to launch a new stablecoin pegged to the United Arab Emirates dirham (AED). According to […]
U.S. Stocks Rise Ahead of Payroll Revisions and Fed Minutes
U.S. stock indexes rose on Wednesday, with investors cautious ahead of revisions to U.S. payroll data and the release of minutes from the Federal Reserve’s latest monetary policy meeting. Wall Street indexes closed lower on Tuesday, ending an eight-day upward streak, despite recovering from weakness and volatility in early August. Payroll revisions and Fed minutes […]
Dollar Rebounds but Continues Near Seven-Month Lows
The U.S. dollar rose in early European trading on Wednesday but remains near seven-month lows, as the Federal Reserve minutes from its last meeting and likely revisions to payroll data point to a rate cut next month. The dollar loses strength in anticipation of Fed minutes and payroll revisions The dollar has been under pressure, […]
Daily Technical Analysis EUR/USD: The Pair Rises Nearly 1% This Week Ahead of Jackson Hole
The most important event this week is the Federal Reserve’s Jackson Hole symposium, where Fed Chairman Jerome Powell is expected to speak publicly on Friday. At the same time, the market will focus on whether expectations of a 100 basis point rate cut by the central bank this year will be confirmed. Another factor that […]
Dubai Admits Cryptocurrencies as Legitimate Salary Payment
Dubai’s justice administration has officially recognized the use of cryptocurrencies as a valid means of paying salaries. The landmark decision, adopted by the Dubai Court of First Instance, marks a milestone in the development of cryptocurrencies in the city, which aims to lead innovation in disruptive technologies. Recently, the court issued an order recognizing cryptocurrencies […]