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The dollar remains well-valued after yesterday's US data further buoyed US yields and reinforced calls for a 25-point hike from the Federal Reserve in July. The economy grew at a revised 2% quarterly rate and initial claims fell sharply again, giving markets the impression that the Fed still has work to do. Dollar strength was evident yesterday across all...

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The US dollar was barely changed in early European trading on Tuesday ahead of the latest inflation data that could determine the direction of US monetary policy, while sterling rose as investors British workers continue to benefit from healthy wage increases. At 3:10 a.m. ET (08:10 GMT), the dollar index, which tracks the greenback against a basket of six other...

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Gold prices fell below key levels in Asian trading on Tuesday as traders turned to the dollar ahead of U.S. inflation data that is widely expected to confirm certain interest rate trends. Profit-taking has been active in the yellow metal over the past two weeks, pushing its price to its lowest level in more than three weeks, as prospects for higher long-term...

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The dollar edged lower in early European trading on Monday as traders remained cautious ahead of the release of key U.S. inflation data that could provide further clues about FBI policy. Future Federal Reserve System. As of 3:20 a.m. ET (7:20 p.m. Japan time), the dollar index, which tracks the U.S. dollar against a basket of six other currencies, was down 0.1%...

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Bitcoin (BTC) is up over 120% since the beginning of the year, showing that sentiment towards the crypto asset has improved significantly. Due to the large volume of purchases, the number of wallet addresses holding more than $1 million in Bitcoin this year has jumped from 23,795 on January 1 to 81,925 now, according to data from BitInfoCharts. After a...

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Negotiations leading up to the meeting between Biden and Xi in the United States are being portrayed as a tense battle of wits, with both sides trying to gain maximum advantage. The White House has confirmed that US President Joe Biden and Chinese President Xi Jinping will meet on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit to be held in...

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US President Joe Biden's administration is concerned that Israel is trying to provoke a war in Lebanon, causing it to risk becoming a regional war, Axios news portal cited sources as saying. “Some in the Biden administration are concerned that Israel is trying to provoke (Lebanese Shiite movement) Hezbollah and create a pretext for a larger war in Lebanon that...

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On-chain analytics firm IntoTheBlock has released data showing a significant increase in demand from institutional investors and whales in the crypto sector. Ethereum scaling solution Polygon in particular has been at the forefront of this trend, with transaction volume increasing by 3,800% to over $100,000 in the past 30 days. IntoTheBlock's classification of...

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Wall Street analysts are less optimistic about gold prices next week due to concerns that U.S. inflation will be higher than expected. Global spot gold prices fell last week after a hot day due to the political conflict between Israel and Hamas since early October. The precious metal remained above $1,930 an ounce, but failed to cross the threshold. Mental...

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Fed Chairman Jerome Powell said at a recent International Monetary Fund research conference that Fed officials are still unsure whether current interest rates are high enough to effectively combat inflation. This suggests further rate hikes may be imminent. Powell said the Fed aims to keep monetary policy tight enough to reduce inflation to 2% over the long term....

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The focus is on the impending publication of the UK's third quarter GDP data, which is expected to influence the Bank of England's (BOE) monetary policy in December. Prime Minister Swati Dhingra is considering the possibility of cutting interest rates if growth numbers do not meet expectations. UK economic activity was weighed down in the third quarter by factors...

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Gold prices fell to their lowest in more than three weeks on Thursday, extending a recent losing streak after some Federal Reserve officials warned against betting on the central bank completing its interest rate hike. The yellow metal was in the red for the fourth day in a row as pressure continued from a rebound in the dollar and US Treasury yields. Demand for...

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Global gold prices continue to fall today, November 9, as the need for capital protection from the military conflict between Israel and Hamas has largely ended, the US dollar has maintained its value, and oil prices have fallen. At around 6 a.m. on November 9, the global gold price today was $1,950 per ounce, a significant drop of $18 compared to the price at the...

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IMF Europe Director Alfred Comer warned the ECB that if it does not cut interest rates soon, it will be forced to tighten monetary policy more costly later. The headquarters of the European Central Bank in Frankfurt am Main, Germany. (Photo: AFP/TTXVN) The International Monetary Fund (IMF) said on November 8 that rapid wage growth in the euro zone could push...

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Bitcoin ETFs give investors access to the world's largest cryptocurrency without having to hold the assets themselves. Instead, you can buy stocks backed by Bitcoin purchased from the issuer. Seifert pointed out another caveat. Even if the SEC were to approve a rule change to allow ETF trading, it would be completely separate from approval of a fund's...

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According to Bernstein, Bitcoin's value doubled in 2023, a year of marked economic turmoil, marking the beginning of a new bullish cycle. Accelerators that could propel Bitcoin towards the $150,000 goal by mid-2025 include upcoming SEC-approved ETFs and Bitcoin halving scheduled for April 2024 . They argue that investors can respond to this trend through direct...

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The majority of foreign exchange strategists expect the recent decline in the US dollar to continue throughout the year. The main driver for major currencies for the rest of 2023 is likely to be economic indicators. A stronger-than-expected U.S. economy and rising Treasury yields caused the dollar, which had been rising against other currencies, to fall. This...

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Canadian markets were lower on Tuesday, with the TSX Composite and TSX Venture Exchange both down 1%. This was due to the decline in prices of primary products such as crude oil and gold, as well as the strong US dollar. The situation worsened as the Canadian dollar fell to US$72.67. Crescent Point Energy's stock price was also affected, falling after the...