Bitcoin remains close to $64,000 as U.S. inflation data approaches, Harmony incident unsettles altcoins.
Cryptocurrency Market Summary Cryptocurrency markets were relatively stable on Wednesday as traders processed some recent developments and anticipated the U.S. inflation report, which could influence risk assets significantly. Harmony, a layer 1 blockchain network built for decentralized finance (DeFi) applications, confirmed it was compromised in the early hours in Asia. An attacker managed to mint […]
Euro reduces losses against the British Pound after strong German inflation figures
The euro (EUR) gained some ground against the British pound (GBP) after hitting lows earlier this week. This came as higher inflation figures from Germany provided some support, even as anxieties rose in the Middle East. Currently, EUR/GBP is above 0.8540 but has pulled back from last week’s peak of over 0.8580, keeping a bearish […]
Stock futures remain mostly steady before Wednesday’s major inflation report: Live updates
Stock Futures Steady as Traders Await Inflation Report U.S. stock futures remained relatively stable on Tuesday evening as investors prepared for an important inflation report that could shape the future of interest rates. The Dow Jones Industrial Average futures ticked up by 26 points, equating to a 0.05% increase. Meanwhile, S&P 500 futures and Nasdaq […]
Beth Hammack states that several rate increases are necessary to combat US inflation.
Analysis on July Jobs Report and Interest Rate Hikes Former Federal Reserve Chairman Stephen Millan discussed the July jobs report on “Maria Bartiromo’s Wall Street,” expressing concerns that central banks might be limiting the labor market. Cleveland Fed President Beth Hammack mentioned on Monday that multiple interest rate increases will likely be necessary to prevent […]
Australian Dollar rises even with slowing domestic inflation and a firm Fed stance.
The AUD/USD pair saw a slight increase after declining for two consecutive days, now trading near 0.6960 during Asian hours on Thursday. However, it could experience downward pressure as the US dollar (USD) may gain strength following the Federal Reserve’s pause on rate hikes. During its July policy meeting, the Fed chose to maintain interest […]
Dow drops 1,150 points amid inflation concerns following Fed interest rate decision
On Wednesday, stocks dropped significantly due to inflation worries after the Federal Reserve opted to keep interest rates steady. Meanwhile, oil prices surged nearly 6% amid fears of a prolonged conflict involving Iran. The Dow Jones Industrial Average declined by 1,150 points, translating to a 2.2% decrease. The S&P 500 and Nasdaq followed suit, falling […]
Japanese Yen remains steady close to multi-decade low following CPI inflation figures.
Market Update on USD/JPY and Japanese Economic Indicators During early trading on Friday in Asia, the USD/JPY exchange rate remained steady around 163.90. However, the Japanese yen is currently near its lowest points against the US dollar in decades. Traders are awaiting the preliminary data for the US S&P Global Purchasing Managers’ Index (PMI), set […]
A lower inflation report offers the British Pound Sterling only a slower drop
The pound’s weekly decline saw a slow down at an unprecedented peak on Wednesday, although the trading behavior was somewhat peculiar as the June inflation figures provided strong evidence for sellers. GBP/USD initially touched the 1.3350 level during early New York trading, its lowest point in a week, but has since landed between that low […]
New Zealand Dollar remains steady following unexpected rise in inflation
NZD/USD Analysis The NZD/USD pair dipped to around 0.5820 on Wednesday, continuing a recent retreat as the New Zealand dollar struggles to capitalize on better-than-expected domestic inflation figures. The Consumer Price Index in New Zealand increased by 1.5% quarter-on-quarter in the second quarter, surpassing market predictions of 1.4% and rising significantly from the previous 0.9% […]
Euro strengthens against British Pound as UK’s June CPI inflation drops more than anticipated.
In the early hours of trading in Europe on Wednesday, the EUR/GBP exchange rate picked up pace, reaching about 0.8525. The British pound weakened against the euro following the release of the UK’s inflation report, and attention is now turned to the European Central Bank’s (ECB) upcoming interest rate announcement scheduled for Thursday. According to […]