Key points to watch out for: UK CPI data Following the release of a new report about CPI on US soil, inflation data will continue to carry the spotlight this week, including in the UK. The first item on the agenda this week in the UK is the February employment report, due on Tuesday, April 16. […]
Bitcoin surges after ETF approval in Hong Kong
The price of Bitcoin (BTC) and Ether (ETH) have risen sharply in Hong Kong after several applicants claimed to have obtained approval for exchange-traded funds (ETFS) in cryptocurrencies. Market analysts note that Bitcoin’s price has increased by about 2.8% in the last 24 hours, trading above USD 66,500, while Ether has reached USD 3,240. Details […]
U.S. stocks rebound today, Monday
U.S. stocks rallied on Monday, showing signs of recovery after last week’s significant losses, supported by strong earnings from banking giant Goldman Sachs. In today’s trading, the Dow Jones Industrial Average was up 1%, while the S&P 500 was up 0.8% and the NASDAQ was up 0.5%. Goldman Sachs attracts attention with its profits Wall […]
Daily Technical Analysis EUR/USD: The pair remains unchanged
The EUR/USD has bounced from five-month lows despite market expectations regarding the Federal Reserve (Fed). Meanwhile, members of the European Central Bank (ECB) indicated that there is a high possibility of more than three rate cuts this year. There is also a strong possibility that investors will seek refuge in the US dollar (USD) due to […]
U.S. stocks down after poor quarterly results from banks
U.S. stocks fell on Friday after disappointing results from several of the country’s major banks raised uncertainty about the strength of the upcoming earnings season. U.S. stock markets fell after big banks disappointed with their quarterly results. The major banks presented their results Shares of JPMorgan Chase (JPM) fell nearly 4% after the banking giant […]
Mica Law may lead to an increase in cryptocurrency transactions in euros
ESMA estimates that the Mica Law may become a “booster” for euro cryptocurrency transactions. In one of its latest reports, the European Securities and Markets Authority (ESMA), the European Union’s securities regulator, has noted that the Mica Law has not yet driven any increase in cryptocurrency transactions. According to the regulator, the announcement of the […]
Dollar stumbles after economic data
In an unexpected move in the financial markets, the dollar (USD) experienced a drop this Thursday after the release of U.S. producer price data for March, which was lower than expected. This has partially alleviated market concerns about the resilience of inflation, opening the door to possible rate cuts by the Federal Reserve (Fed). Key […]
Joe Biden proposes tax on cryptocurrency mining
U.S. President Joe Biden’s cryptocurrency mining tax proposal is one of the more ambiguous elements of his budget proposal for next year. Biden seeks to impose a new 30% tax on the electricity used by Bitcoin miners, regardless of its source. This means that many miners may possibly relocate to other countries. President Biden in […]
U.S. inflation rises again
The U.S. core inflation index beat estimates for the third consecutive month, a persistent sign of price pressures that will likely delay any interest rate cut by the Federal Reserve (Fed) until later this year. The underlying consumer price index, which excludes energy and food, rose 0.4% from February, according to data released by the […]
Daily Technical Analysis EUR/USD: The pair waits for data to know which zone to move to
The EUR/USD fluctuated this Wednesday morning in anticipation of consumer inflation data and the upcoming US Federal Reserve (Fed) minutes. During that time, the EUR/USD was trading at 1.0850, up from this month’s low of 1.0725. Today’s calendar has no important data scheduled from the euro zone. In Europe, the focus is on the possibility that […]