The British pound increased its value in the market shortly after the release of the data regarding inflation in the United Kingdom. Inflation has been stable recently in the UK, thanks to the Bank of England’s (BoE) firm policy on interest rates to combat inflation. One key piece of data is the UK consumer price […]
The yuan lost value after the release of disappointing economic growth data in China
The yuan lost value in response to China’s economy growing much less than expected. It barely surpassed the government’s estimate of 5% for 2023, marking one of the worst growth rates in over three decades. This means that the rebound after the health crisis did not have the expected momentum and, on the contrary, set […]
Dollar slips ahead of European Central Bank data
The dollar (USD) is trading lower on Monday, in a vital week ahead of key U.S. growth and inflation data and the first meeting of the Federal Reserve (Fed).C The dollar index, which follows the greenback against a basket of six other benchmark currencies, was down 0.1 percent at 102.984 at midday, falling from one-month […]
Ethereum’s mastermind suggests increasing the gas limit
The founder of Ethereum, Vitalik Buterin, one of the most famous cryptocurrencies with the largest market cap in the market, has sparked controversy by suggesting an increase to the network’s gas limit. With the increase of the limit would also see an improvement in the scalability of the network according to the founder. Ethereum’s creator […]
USD/JPY rises to eight-week high ahead of Bank of Japan meeting
Today, the USD/JPY hit an eight-week high, rising above 148.80 before settling back at around 148.35. This move comes as markets await the Bank of Japan (BoJ) meeting scheduled for early next week with high expectations. The bank is expected to halt its negative interest rate policy, which could curb the recent depreciation of the […]
The European Union expands and updates guidelines to tackle money laundering by crypto companies
Through the European Banking Authority (EBA), the European Union is toughening its stance in its fight against money laundering activities and the fight against terrorism, with European-based companies. This regulation has been implemented as of December 30, 2023. It is intended to give crypto-asset service providers a hand in making assessments to decrease the risks […]
Bitcoin, the cryptocurrency with the largest market capitalization, has hit its lowest levels since ETFs were approved
Last week, the cryptocurrency market was revolutionized when the U.S. Securities and Exchange Commission (SEC) approved about a dozen bitcoin (BTC) ETF investment funds; since then, the price of the cryptocurrency has dropped 10% in value. Something almost no one had in mind, the unexpected 10% drop in Bitcoin’s value post-ETF approval, could also be […]
United Nations Highlights Illicit Use of Cryptocurrencies in Southeast Asia
The black market industry is increasingly using cryptocurrencies for its operations to achieve its financial objectives quicker and more smoothly. According to a report published by the United Nations Office on Drugs and Crime, cryptocurrencies are now increasingly being used for illicit activities in poorly regulated areas in East and Southeast Asian countries. The report […]
Bank of America Says Currency Market May Become More Volatile This Year
Bank of America analysts suggest that volatility may become a constant feature in the market this year, driven by the high likelihood of Federal Reserve (Fed) interest rate cuts in the coming months. In case volatility is present in the market, analysts warn that it can be an excellent market opportunity, since the price tends […]
Fake SEC Tweet Triggers Bitcoin Price Swing
Thanks to a fake tweet from the U.S. Securities and Exchange Commission (SEC) account related to Bitcoin ETFs managed to trigger an unexpected reaction in market prices From the official account of the SEC on X, a tweet was disseminated reporting the acceptance of Bitcoin exchange-traded funds, which evidently had a direct effect on the […]