U.S. markets declined on Tuesday as the rally in the technology sector appeared to lose steam ahead of the Federal Reserve’s latest meeting. Wall Street’s major indexes closed Monday with modest gains, continuing their upward trend over the last three sessions. However, they are set to post April losses of around 2.4% and 3.6%, due largely […]
Dollar moves in expectation of meeting, Yen loses ground
The U.S. dollar strengthened on Tuesday ahead of the Federal Reserve’s latest policy meeting on interest rates, while the Japanese yen weakened following suspected government intervention. Fed meeting approaching On a general view, the dollar has been in high demand this month, as a series of stronger-than-expected U.S. inflation data has caused currency market investors […]
Australian Securities Exchange may approve Bitcoin ETFs
According to Bloomberg, the Australian Securities Exchange (ASX) may approve a group of spot bitcoin ETFs by the end of 2024. The report notes that several issuers, including VanEck and local firms BetaShares and DIGITALX, have already submitted their ETF applications earlier this year. DigitalX filed its documents in February, concurrently with VanEck re-filing its […]
U.S. stock markets rose
U.S. stocks rose on Monday, buoyed by strong earnings from electric car maker Tesla ahead of the upcoming Federal Reserve meeting. Additionally, last week’s strong first-quarter earnings from tech giants Alphabet (GOOGL) and Microsoft (MSFT) sparked a tech industry rally, with momentum expected to continue this week. Earnings season continues This Monday marked the continuation […]
Dollar loses ground, Yen soars
For those following currency market trends, the U.S. dollar lost ground on Monday ahead of the Federal Reserve’s latest meeting, while the yen soared on speculation that Japanese authorities have intervened to support the currency. PCE data points to an untimely rate cut Despite gaining about 1% this month, the dollar lost ground in early […]
Yen hits new 34-year low
The yen (JPY) has lost nearly 10% of its value against the dollar this year, becoming the worst-performing G10 currency. It hit a new 34-year low and breached the 157 level against the dollar (USD) after the Bank of Japan signaled that monetary policy would remain loose, fueling speculation that Japanese authorities might soon intervene […]
U.S. stocks rise on strong results from Microsoft and Alphabet
U.S. stocks gained momentum on Friday after new inflation data alleviated fears of rate cut delays, buoyed by stronger-than-expected earnings from tech giants Microsoft and Alphabet. PCE data in line with estimates Data released Friday showed that the personal consumption expenditures (PCE) price index rose 0.3% from March, as expected. In the 12 months through […]
The U.S. Securities and Exchange Commission (SEC) is likely to reject spot Ether ETFs next month.
While there is evidence suggesting the SEC is likely to postpone the approval of spot Ether ETFs, Hong Kong is set to begin trading its own spot Ether ETFs next week. A recent report indicates that the U.S. Securities and Exchange Commission (SEC) is expected to deny Ether spot ETFs in May Reuters reported on […]
U.S. stocks retreat on weak economic progress and disappointing estimates from Meta Platforms
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 […]