The dollar was lower on Monday after US President Joe Biden’s decision not to seek re-election, while the euro gained despite its not-so-strong tone after the European Central Bank’s meeting the previous week. Here’s everything you need to know about the major market currencies. Dollar loses ground amid political uncertainty The dollar lost ground after […]
Market Highlights for the Week: Inflation, Earnings, Oil
A busy week awaits the markets, with US inflation data that could cement expectations of a rate cut in September. Earnings season gathers momentum with the release of the results of major companies and many European banks. Meanwhile, Eurozone PMI data will highlight the run-up to the European Central Bank’s next rate cut. Here’s what […]
EUR/USD Near 1.0900 Level Due to USD Weakness
EUR/USD is hovering around 1.0895 in early Asian hours on the first day of the week. The falling US dollar (USD) is helping the pair. Later in the session, German retail sales data for May will be released, followed by the Chicago Fed’s June National Activity Index. Increased expectations related to the Fed rate cut […]
Understanding Ethereum: Revolutionizing the Digital World
Ethereum is an open-source digital platform that uses blockchain technology for the creation of decentralized applications. Created in 2015 by Vitalik Buterin, this network has become a benchmark in the cryptocurrency industry, and its coin, Ether, is positioned as the second cryptocurrency with the largest market capitalization, only behind Bitcoin. In this article, we will […]
US Stocks Mixed, Tech Sector Falls on Geopolitical Fears
US stock markets traded mixed on Wednesday, with major technology stocks suffering a sustained decline on heightened geopolitical tensions. Technology stocks fell sharply Wall Street’s major indices traded lower on Wednesday, losing ground from record levels, with the technology sector leading the losses on the back of a Bloomberg report that President Biden’s administration is […]
Dollar Falls as Yen Soars on Intervention Rumors, Sterling Gains on UK CPI
The US dollar hit multi-month lows on Wednesday, while the Japanese yen strengthened sharply, and sterling rose to a one-year high after better-than-expected UK inflation figures. Dollar loses ground The dollar retreated on Wednesday on confidence that the Federal Reserve will start cutting interest rates in September to support and boost the slowing economy. US […]
EUR/USD ECB Calls for Calm and Interest Rates Are on the Way Down
The EUR/USD gyrated around 1.0900 on Tuesday as markets struggled with hopes of a rate cut in September, hopes that were left on the high side even more so after US retail sales figures appeared to soften more than expected in June. Markets have dismissed the start of a Fed rate cutting cycle for September, […]
Bank of America Beats Forecasts with Strong Investment Banking Performance
Bank of America said Tuesday that revenue and earnings in the second quarter beat estimates, supported by higher fees in both investment banking and asset management. Bank of America reported: The bank said profit fell 6.9% compared to the same period last year, to $6.9 billion, or $0.83 per stock, as net interest income declined […]
SEC Publishes Final Instructions for Launching Ether ETFs
The US Securities and Exchange Commission (SEC) has issued final instructions to asset managers preparing to launch ether exchange-traded funds (ETFs). According to Bloomberg analyst Eric Balchunas, the Commission ordered issuers to file their final S-1 forms by July 16, with the aim of launching the new funds on July 23. The final forms were […]
US stock markets rise on rate cuts, bank and retail sales data to be released
U.S. stock futures rose on Tuesday, extending the session’s gains amid rising optimism about possible interest rate cuts, while bets that Donald Trump will secure a second term also increased. Powell expects lower inflation, boosting rate cut bets Wall Street’s major indices closed higher on Monday, supported by optimism about the possibility of future interest […]