U.S. stocks fell sharply on Thursday, weighed down by signs of slowing economic growth and disappointing second-quarter forecasts from technology giant Meta Platforms (META). U.S. GDP growth in the first quarter disappoints The U.S. economy grew by 1.6% in the first quarter on a year-over-year basis, according to data released on Thursday. This growth marks […]
U.S. stocks rise thanks to the technology sector
U.S. stocks mostly rose on Wednesday, bolstered by positive results from Tesla, one of the market’s largest technology companies to report its first-quarter performance early. Wall Street buoyed by tech companies’ rally ahead of results from big names Tesla (TSLA) shares rose 12%, rebounding from a 15-year low hit earlier in the week, after the electric vehicle maker […]
Dollar falls, Euro reverses a portion of its gains
The dollar regained ground in the European trading session on Wednesday after the previous day’s decline, as market participants closely watched for further signals about the Federal Reserve’s future monetary policy intentions. Slowing economic growth weighs on the dollar The easing of tensions in the Middle East, after Iran signaled that it does not want to […]
Daily technical analysis EUR/USD: The trend continues downwards
The EUR/USD is expected to show strength this week, though it is likely to stay above the psychological support level of 1.05. According to several forex analysts, the euro is under pressure against the dollar as markets anticipate the European Central Bank independently proceeding with rate cuts in June, without mirroring similar actions by the […]
PayPal’s Blockchain Research Group, in collaboration with non-profit
This week, PayPal’s Blockchain Research Group, in collaboration with the non-profit organization EnergyWeb, unveiled a new initiative to incentivize Bitcoin miners to employ clean energy in their operations. The project offers a financial reward to network participants who commit to and certify an environmentally friendly approach. Bitcoin mining is a procedure in which participants, known […]
U.S. stocks trade higher; earnings in focus, with Tesla leading among tech giant
U.S. stocks are pointing to a rally on Tuesday as investors digest a flurry of quarterly earnings ahead of the release of results from some of the country’s most prominent tech companies later in the week. The easing of concerns about a major conflict in the Middle East, following Iran’s lack of immediate response to Israel, has […]
Dollar flat, Euro gains on PMI data
The U.S. dollar remained flat during Tuesday’s European session, while a rebound in Europe’s service sector activity for April boosted the euro. Dollar Declines Amid Weakening Safe-Haven Sentiment The easing of tensions in the Middle East in recent days, as Iranian Foreign Minister Hossein Amirabdollahian has signaled that the Islamic Republic has no intention of […]
Outlook for This Week’s Most Important Economic Events
Key points to watch out for: Will US data push back the possibility of another Fed rate cut? The US dollar has rallied sharply in the last two weeks, which has motivated bulls to initiate long positions in their trades. Regarding U.S. CPI data, it showed that inflation in the U.S. reaccelerated in March. Several Federal Reserve (Fed) policymakers, including Chairman Jerome […]
New York Stock Exchange wants to mimic Bitcoin
The New York Stock Exchange (NYSE), the world’s largest securities trading organization by market capitalization, is considering changing its trading hours to resemble those of cryptocurrencies, providing investors the option to trade stocks 24/7. According to a Financial Times story published on Monday, Intercontinental Exchange, the company that owns the New York Stock Exchange, reportedly conducted […]
Dollar unchanged ahead of inflation report
Amid global currency evaluations, the U.S. dollar remained stable today. This quiet trading day comes as geopolitical tensions in the Middle East appear to be easing and as markets anticipate the release of the Federal Reserve’s preferred inflation indicator next Friday. The dollar remains unchanged in anticipation of the inflation report The dollar reached new […]