The Reserve Bank of Australia (RBA) has left interest rates unchanged at 4.35%, a decision expected by the foreign exchange market. Additionally, the RBA stated that it is not ruling out the possibility of raising rates if needed despite having lowered its inflation forecasts. The bank noted that inflation fell from December to January, although […]
Bitcoin miners in the United States consume the same amount of energy as the entire population of Utah
According to an analysis conducted by the U.S. Energy Information Administration (EIA), Bitcoin miners in the country consume the same amount of energy as the entire population of the state of Utah. And that’s referring to the lowest usage. Electricity use in mining operations equates to between 0.6% to 2.3% of demand across the entire […]
The Federal Reserve keeps interest rates unchanged in the U.S.
The U.S. Federal Reserve (Fed) announced Wednesday that it has kept interest rates unchanged. The Fed stated it would consider lowering the target interest rate range once it is assured of achieving and maintaining a 2% inflation rate. “In reviewing the right stance of monetary policy, the Committee will continue to observe the implications of […]
BYD misses its earnings forecast due to price war
BYD Co.’s earnings increased due to increased demand, although they fell short of expectations set by various analysts. This was due to a price war in China that affected all companies in that market. Sales in China offset the drop in global demand, increasing BYD’s preliminary net revenues in 2023 by about 75% year-on-year to […]
Oil prices fall and OPEC production holds steady
Oil prices dropped and reached below US$77 after evidencing a rebound last week. At the same time, the abundance of global crude supplies has helped to mitigate potential price increases due to growing military tensions in the Middle East. Although markets anticipated a possible price correction, rising OPEC exports weighed on prices. According to market […]
Bitcoin ETF Takes Action
The cryptocurrency created by Satoshi Nakamoto is awaiting the determination of the financial regulator in the United States, the Securities and Exchange Commission (SEC) in the coming weeks regarding the issuance of ETFs, something totally new for the cryptoasset market. A not minor fact is that this year bitcoin celebrates 15 years of its creation […]
Tesla shares hit their lowest price in eight months
Following Elon Musk’s speech, in which he asked investors to understand the dynamics of slowing sales, shares of Tesla Inc (TSLA) plunged to their lowest numbers in eight months. Shares were down nearly 10% as the company failed to beat earnings expectations and warned that its growth will be “considerably lower” than expected this year. […]
The Euro Strengthens and Falls Following U.S. Inflation Data Release
Today’s trading showed notable movements, as the euro started as the strongest currency in the market but fell after the U.S. inflation rate of 3.4% was announced. Although the euro was the currency that most marked the market trends, behind it there were also others that registered striking movements, such as the pound sterling, which […]
The British pound increased its value in the market shortly after the release of inflation data in the United Kingdom
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 […]