© Reuters. FILE PHOTO: U.S. dollars are counted by a banker at a bank in Westminster, Colorado November 3, 2009. REUTERS/Rick Wilking/File Photo By Ritvik Carvalho LONDON (Reuters) – The dollar dipped against a basket of major currencies on Monday, after hitting a speed bump when last week’s mixedRead More →
Key Talking Points: Gold acts as a hedge for central bank inaction XAU/USD nearing key area of support Gold (XAU/USD) has been unable to hold bullish momentum going into Tuesday’s session after recovering from the worst drop since August 2020 last week. The Fed’s acknowledgment regarding inflationary pressures hasRead More →
Bitcoin (BTC) passed $40,000 on June 14 as a consolidation period snapped to unleash a solid breakout. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price breaks out past $40,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD gaining 3% in under an hour, reaching $40,600 on Bitstamp. TheRead More →
U.S. stocks held minor gains Wednesday midmorning in muted trade ahead of the release of minutes from the Federal Reserve’s March policy meeting which may offer clues on the central bank’s strategy if the economic rebound from the coronavirus pandemic runs too hot. How are stock benchmarks trading? TheRead More →
Following the French government’s decision to sell 611 BTC in an auction this week, the United States government completed a Bitcoin auction recently. US General Services Administration, or GSA, auctioned off 0.7501 Bitcoin; the federal agency has made more than $53,000 from the sale. Interestingly, the aforementioned lot ofRead More →
© Reuters. By Peter Nurse Investing.com – The dollar maintained a strong tone in early European trading Wednesday, as traders looked forward to the conclusion of the two-day Federal Reserve meeting for guidance on future monetary policies. At 3:15 AM ET (0815 GMT), the , which tracks the greenbackRead More →
Canadian Dollar Fundamental Forecast: Neutral What are the top trading opportunities this year? The Canadian Dollar traded mixed against the US Dollar this past week, but its broader path of appreciation since late March 2020 remains intact. CAD received a boost after Bank of Canada’s Governor TiffRead More →
Gold Price Forecast: XAU/USD’s 4H chart signals caution amid stimulus hopes, ahead of Fed Gold (XAU/USD) settled last week with modest losses below $1940, as the bears dominated amid fading hopes for a US coronavirus relief aid. Further, investors remained optimistic about the US Food and Drug Administration’s (FDA)Read More →
The United States will not be issuing a digital dollar until the Federal Reserve resolves all questions around a potential central bank digital currency, or CBDC, according to the Fed’s chairman, Jerome Powell. Powell claimed that he is not worried about other countries having a first-mover advantage when itRead More →
Gold futures climbed on Wednesday, with commodity investors positioning prices for a third straight rise ahead of a Federal Reserve statement that could prove mostly bullish for long-term metals investors. Investors expect the Fed to express continued support, even though the central bank won’t change interest rates from aRead More →
S&P 500 futures recorded a modest gain after a six-day winning streak, reaching as high as 3,498.12. Fed Chairman Powell’s AIT move was well appreciated and hopes for US stimulus added to the market’s optimism. Viral woes, a US-China tug-of-war and a light calendar could provide intermediate callbacks aheadRead More →
Reuters. By Peter Nurse Investing.com – Wednesday morning in Europe, the US dollar weakened, with the Federal Reserve minutes in focus, while stronger-than-expected inflation boosted the pound. At 2:50 a.m. ET (0650 GMT), the dollar index, which tracks the dollar against a basket of six other currencies, was downRead More →
Economists at Charles Schwab believe the dollar is in for a long decline for the following reasons: the Federal Reserve has shifted to a zero interest rate policy, U.S. economic growth will likely underperform other major economies due to the coronary virus, political uncertainty is rising, and the growingRead More →
© Reuters. By Peter Nurse Investing.com – The dollar edged higher in early European trade Tuesday, bouncing off a two-year low, ahead of a Federal Reserve meeting and amid hopes for prompt delivery of the next U.S. fiscal rescue package. At 3:10 AM ET (0710 GMT), the Dollar Index,Read More →
The Federal Reserve on Thursday voted to require large banks to preserve capital by suspending share repurchases and cap dividend payments in the third quarter. In a 4-to-1 vote, the Fed will tie the distribution of dividends to a formula based on recent income. The formula sets third-quarter dividends atRead More →
© Reuters. Traders wearing masks work, on the first day of in person trading since the closure during the outbreak of the coronavirus disease (COVID-19) on the floor at the NYSE in New York By Medha Singh and Devik Jain (Reuters) – Wall Street’s main indexes were set open lowerRead More →
President Donald Trump has predicted that the US economy will recover by 2021, citing new jobs data released by the Labor Department which contains a “misclassification error.” Officials say the numbers are artificially low, and Federal Reserve Chairman Jerome Powell and several economists have voiced their concerns. Trump Thinks USRead More →
U.S. stock-market futures edged higher Sunday evening in thin trading, as Wall Street equities looked to add to a rally toward records for the Nasdaq Composite that concluded trade last week on the back of improving economic data in the face of a viral outbreak. How are benchmarks faring? FuturesRead More →
The Federal Reserve’s Chair, Jerome Powell has hinted at using an Ethereum-based interest reference rate in a transition from the London Interbank Offered Rate (Libor). Powell also detailed in a letter to Senator Tom Cotton (R-AR), that the Ethereum version of Libor, a software called “Ameribor” may not be forRead More →
A historic week for the stock market ended with a big, fat question mark: what will the government and the Federal Reserve do about the coronavirus outbreak that threatens to decimate the longest-running bull market on record? The infectious disease, Covid-19, which reportedly originated in Wuhan, China, late last year,Read More →
(Bloomberg) — Federal Reserve officials viewed their current monetary policy as appropriate “for a time” while they remained on guard against domestic and global risks that could slow the longest U.S. expansion on record. “Participants discussed how maintaining the current policy stance for a time could be helpful in supportingRead More →
The U.S. central bank should keep its benchmark interest rate unchanged for the time being, as growth is in a good place and inflation should hit the central bank’s 2% annual target, two Federal Reserve officials said Monday. “My own view right now is that we should hold steady forRead More →
Ed Yardeni, president of Yardeni Research, has seen plenty over his long Wall Street career, but it appears as if the coronavirus outbreak, which he sees as the biggest risk to this bull market, has him a bit flummoxed. ‘The longer that this virus threat continues to weigh on theRead More →
The Federal Reserve could encourage banks to tap a key funding source that has been scarcely used since the financial crisis as a solution to the September dislocations in short-term lending markets, said Fed Vice Chairman for Supervision Randal Quarles on Thursday. Quarles said financial institutions should not be afraidRead More →
Asian markets fell in early trading Thursday, after the U.S. Federal Reserve kept interest rates unchanged, and as investors weighed developments in the spreading coronavirus outbreak. Fed chief Jerome Powell said Wednesday that the U.S. economy is in good shape, in announcing that the central bank left unchanged a keyRead More →
