While not listed as a top priority, the Republican National Committee adopted a platform that aims to support digital innovation. Former President Donald Trump’s Republican Party has officially taken on a platform that will support innovation in cryptocurrencies, according to a document released Monday by the Republican National Committee. The platform lays out the party’s priorities as presumptive presidential […]
U.S. stock markets rise; Powell testimony looms
U.S. stock indexes rose on Tuesday as rising expectations of a rate cut in September lifted Wall Street ahead of Federal Reserve Chairman Jerome Powell’s testimony. The S&P 500 and Nasdaq Composite hit record highs on Monday, adding to recent gains as traders priced in the likelihood that the Federal Reserve will begin cutting interest […]
Dollar rises on Powell’s remarks; euro stabilizes
The U.S. dollar edged higher in early European trading on Tuesday, bouncing from its lows in anticipation of Federal Reserve Chairman Jerome Powell’s Senate testimony, while the euro has held firm amid the volatile political situation in France. The dollar bounces ahead of Powell’s Senate testimony. The dollar has rebounded a bit on Tuesday, but […]
Outlook for the Week of July 08-12
Key points to watch out for: Euro Investors Are Keeping an Eye on the French Elections Currency market traders will be on the edge of their seats on Sunday, in anticipation of Monday’s opening and the impact the second round of the French election will have on the market. The far-right National Rally (RN) party […]
This week is pivotal for the cryptocurrency market: Why?
The cryptocurrency market may finally experience a shakeout following the upcoming release of CPI and PPI data later this week. Chairman Powell will also deliver his semi-annual monetary policy testimony to the HFSC. With a potential 25 basis point rate cut ahead, circumstances could change very quickly. A more forceful stance on interest rates by […]
Market highlights for the week: Inflation, Biden, Powell
After a holiday-shortened week, investors will keep a close eye on the upcoming economic report on inflation, which is the highlight of the week. Last week, the labor market again showed signs of moderation. June’s nonfarm employment figures showed an increase of 206,000 jobs, a slight decline from May’s revised count of 218,000. The U.S. […]
U.S. stock markets fall slightly after Powell’s testimony, with CPI in focus
U.S. stock indexes fell slightly on Monday as investors await both Federal Reserve Chairman Jerome Powell’s testimony and key inflation data for more signals on interest rates this week. Futures stabilized in the wake of Wall Street hitting record highs on Friday last week as softer-than-expected nonfarm payrolls data increased optimism that the Fed will […]
Dollar stable in light of inflation data; euro advances
In early European trading, the dollar was stable ahead of key inflation data, while the euro was moving as investors digested the results of the French parliamentary elections. The dollar is stable in anticipation of CPI data The dollar was steady at the start of a new week, having suffered a setback after surprisingly strong […]
EUR/USD: Below 1.0850 as a Result of the Elections in France
The EUR/USD is trading in a downtrend on Monday. Uncertainty in France following Sunday’s parliamentary runoff election has put some selling pressure on the Euro (EUR). Also, later in the session, the Eurozone Sentix Investor Confidence for July will be released. According to The Economist, exit polls indicated that the left-leaning New Popular Front (NFP), […]
Bulls and Bears in Trading: Why Are They Called So?
Bears and bulls are terms commonly used in the stock market to describe investors who have a positive or negative perspective toward the market. These terms refer to the way investors look at the market. Correctly identifying trends within these categories can determine the success or failure of trades. Hence, it is important to correctly […]