Lawmakers in the US House of Representatives have voted to approve a reversal of an SEC rule on digital asset custody accounting, framed in the regulator’s Special Accounting Bulletin No. 121. The rule virtually prevents commercial banks from offering their customers services related to cryptocurrency and digital asset custody due to the strict regulatory requirements […]
U.S. stocks are lower and Fed remarks in focus
U.S. stocks and major indices retreated on Thursday as the recent rally stalled, with investors digesting corporate earnings along with hawkish comments from Federal Reserve officials. Wall Street’s latest rally came to an end on Wednesday as a series of Federal Reserve officials signaled that the Fed was more likely to hold interest rates this […]
Dollar rises after Fed statement, pound loses ahead of meeting
The U.S. dollar gained ground on Thursday, trading in a tight range ahead of important U.S. inflation data next week, while the pound lost ground ahead of the Bank of England meeting. Tight trading range ahead of US CPI The dollar managed to stabilize this week, after the sharp losses of the previous week, as […]
U.S. stocks fall with corporate earnings in focus ahead of Fed statement
U.S. stocks fell Wednesday, with investors digesting a slew of corporate earnings in anticipation of more statements from Federal Reserve policymakers. More statements from the Fed Growing optimism about a likely interest rate cut has been dampened by a series of Fed officials who have indicated that interest rates will remain unchanged in the near term. Minneapolis Fed President Neel […]
Dollar gains ground, focus shifts to Fed appearances
The U.S. dollar gained ground on Wednesday, recovering after recent weakening in anticipation of a series of appearances by Federal Reserve members. Federal Reserve hearings to follow The dollar received a slight boost late Tuesday after Minneapolis Fed President Neel Kashkari indicated that both persistent inflation and a robust economy could persuade the central bank to keep interest rates […]
EUR/USD Remains in Range
The EUR/USD has been trading in a range between 1.0790 and 1.0738 this week. Amidst the current currency market backdrop, the EUR/USD may take cues from Thursday’s U.S. initial jobless claims report along with the preliminary University of Michigan index of U.S. consumer sentiment on Friday. Signs of weakness in the labor market could translate […]
Bitcoin processed a billion in total transactions
Bitcoin, the oldest blockchain on the market, has achieved a record by surpassing one billion transactions. According to Clark Moody’s data dashboard, the Bitcoin (BTC) network has processed nearly 1,000,427,568 transactions in its 15 years of operation. This is an average rate of 6 transactions per second, based on data from the last 30 days, and […]
U.S. stocks rise in anticipation of more results and Fed speeches
Major U.S. market indexes were trading higher on Tuesday, fueled by continued optimism in anticipation of more corporate earnings and upcoming speeches by the Federal Reserve this week. Wall Street posted back-to-back days of gains on Monday. The S&P 500 was up 1%, the Nasdaq Composite was up 1.2% and the Dow Jones Industrial Average […]
Dollar stable after Employment Drop, Yen loses value again
The U.S. dollar gained value at the start of Tuesday’s trading day in Europe, showing signs of recovery after significant declines over the previous weekend, while the Japanese yen continued to lose ground despite intervention warnings. The dollar is stable after Friday’s fall The dollar stabilized on Tuesday, showing small signs of recovery from last week’s losses after non-farm payrolls data failed to […]
Outlook for This Week’s Most Important Economic Events
Key points to watch out for: Still no interest rate cuts from the Bank of England The UK economy has emerged from the deep recession it faced last year and has finally entered a recovery process. Business surveys indicate solid growth in the first quarter and even stronger momentum for the second quarter, bolstered by a […]