Crypto Community Responds to BRICS’ Consideration of Stablecoin for Trade Settlement
Crypto Community Responds to BRICS’ Consideration of Stablecoin for Trade Settlement BRICS is stepping up its efforts to lessen its dependence on the US dollar by exploring the creation of a stablecoin for international trade. This initiative, highlighted by Russian Deputy Foreign Minister Sergei Ryabkov, aims to unify the financial systems of BRICS nations—Brazil, Russia, […]
UBS Upgrades Chinese Stocks to Overweight
UBS Upgrades Chinese Stocks to Overweight UBS Group AG has upgraded its rating for a prominent Chinese stock index to overweight, indicating a renewed confidence in the market’s recovery prospects. This upgrade, described as a rare and optimistic move in 2024, reflects UBS’s positive stance on the financial health and earnings potential of China’s largest […]
Yen Nears Multi-Decade Low, Targets 155.00 Before BoJ Meeting
Yen Nears Multi-Decade Low, Targets 155.00 Before BoJ Meeting The Japanese Yen (JPY) is currently facing significant pressure against the U.S. Dollar (USD), lingering near a multi-decade trough as Monday’s European trading session gets underway. This downward trend in the Yen is being driven by a combination of factors including market speculation about the Bank […]
Japan’s March Core Inflation Decelerates, Weak Yen Challenges BOJ Policy Decisions
Japan’s March Core Inflation Decelerates, Weak Yen Challenges BOJ Policy Decisions In March, Japan witnessed a slowdown in core inflation and a significant index that tracks broader price trends dropped below 3 percent for the first time in more than a year, according to recent data. This development presents a new challenge for the Bank […]
WTI Holds Near Multi-Month High, Above $85 per Barrel
WTI Holds Near Multi-Month High, Above $85 per Barrel West Texas Intermediate (WTI) U.S. Crude Oil has exhibited signs of a bullish market, maintaining a strong position in a narrow trading range during Thursday’s Asian trading session. The commodity’s prices have been hovering just above the $85 mark, mirroring the stability seen at its highest […]
WTI Slips to Near $81.50 Amid Fed’s Hawkish Remarks, Unexpected Rise in US Crude Inventories
WTI Slips to Near $81.50 Amid Fed’s Hawkish Remarks, Unexpected Rise in US Crude Inventories Western Texas Intermediate (WTI), the benchmark for US crude oil, saw its prices hovering around $81.50 on Wednesday. This downward shift is attributed to the strengthening of the US Dollar (USD) and an unexpected increase in U.S. crude and gasoline […]
Gold Price Lingers Around Weekly Low, Supported by Speculation of June Fed Rate Cut
Gold Price Lingers Around Weekly Low, Supported by Speculation of June Fed Rate Cut During Wednesday’s Asian trading session, Gold prices (XAU/USD) experienced a slight uptick, recovering partially from the previous day’s downturn which saw it reach the weekly low near $2,150. This shift occurs amid a complex interplay of economic signals and market expectations, […]
XRP Poised for Weekly Drop as Investors Pocket $370 Million in Profits
XRP Poised for Weekly Drop as Investors Pocket $370 Million in Profits The price of XRP, a popular altcoin, experienced a downturn, reaching $0.62 on Friday. Despite this drop, it managed to stay above the crucial $0.60 mark, a psychologically significant level for traders and investors. This recent price movement has been primarily attributed to […]
WTI Stabilizes Near $78.50 Following Recent Upsurge Due to Changes in US Crude Oil Inventories
WTI Stabilizes Near $78.50 Following Recent Upsurge Due to Changes in US Crude Oil Inventories During the Asian trading hours on Thursday, the West Texas Intermediate (WTI) crude oil price experienced a slight decline, hovering around $78.50 per barrel. This movement follows a notable surge on Wednesday, primarily fueled by developments in the US crude […]
China’s Ambitious 5% Growth Target Criticized as Lacking a Concrete Plan
China’s Ambitious 5% Growth Target Criticized as Lacking a Concrete Plan China has set an ambitious growth target of about 5% for this year, aiming to boost confidence in the world’s second-largest economy. However, analysts have noted the absence of detailed strategies from Premier Li Qiang to achieve this goal amidst China’s significant challenges. During […]
China’s Economy Yet to Fully Accelerate
China’s Economy Yet to Fully Accelerate China’s manufacturing sector has extended its contraction for the fifth month in a row, reflecting persistent sluggishness in the world’s second-largest economy. This trend emerges as China prepares for its annual growth target announcement at the upcoming parliamentary meeting, which typically aligns with President Xi’s perspectives. The country’s official […]
WTI Oil Price Stays Around $77.30 Amid Potential Supply Interruptions and Russian Ban on Gasoline Exports
WTI Oil Price Stays Around $77.30 Amid Potential Supply Interruptions and Russian Ban on Gasoline Exports The West Texas Intermediate (WTI) oil prices are experiencing a surge, primarily influenced by geopolitical tensions and disruptions in international sea traffic. These disruptions have been notably caused by Iran-aligned Houthi militants. During the European trading session on Tuesday, […]
European Shares Show Mixed Performance Following Worldwide Market Retreat; Abrdn Rises by 4.5%
European Shares Show Mixed Performance Following Worldwide Market Retreat; Abrdn Rises by 4.5% European markets exhibited a mixed performance on Tuesday morning, reflecting a broader trend of declining momentum in global markets. The Stoxx 600, a key European stock market index, was relatively unchanged as of 9:20 a.m., indicating a cautious stance among investors. This […]
EUR/USD Stabilizes Near 1.0820 After PMI-Driven Volatile Session
EUR/USD Stabilizes Near 1.0820 After PMI-Driven Volatile Session The EUR/USD currency pair exhibited consolidation patterns following a tumultuous trading session triggered by the release of significant Purchasing Managers Index (PMI) data from both Europe and the United States on Thursday. During the early hours of Friday’s Asian trading session, the Euro (EUR) demonstrated stability, hovering […]
Nikkei Reaches Historic Peak, Echoing 1989 Highs
Nikkei Reaches Historic Peak, Echoing 1989 Highs Japanese stocks have achieved a remarkable milestone, reaching a record high on Thursday that surpasses levels last witnessed in 1989 during the height of the bubble economy. This surge in the Nikkei share average, which peaked at 39,156.97 points, has marked a significant moment in Japan’s financial history, […]
Japanese Yen Awaits FOMC Minutes for Clear Direction
Japanese Yen Awaits FOMC Minutes for Clear Direction The Japanese Yen (JPY) is currently navigating through a period of uncertainty, maintaining a consistent range against the US Dollar (USD) as the European trading session unfolds on Wednesday. This stability in the currency pair is the result of conflicting forces impacting the Yen. On one hand, […]
Africa’s Biggest Economy Struggles with Rising Inflation and Currency Turmoil
Africa’s Biggest Economy Struggles with Rising Inflation and Currency Turmoil Nigeria is currently grappling with a severe economic crisis, characterized by nearly 30% annual inflation and a rapidly depreciating currency. The Nigerian naira recently hit an all-time low against the U.S. dollar, dropping to nearly 1,600 on the official market, a steep decline from around […]
WTI Nears $73.00 Amidst Rising Tensions in Israel-Gaza and Disruptions in Libya’s Oilfields
WTI Nears $73.00 Amidst Rising Tensions in Israel-Gaza and Disruptions in Libya’s Oilfields In recent developments during the Asian trading session, West Texas Intermediate (WTI) crude oil prices are trending upwards, nearing the $73.00 mark per barrel. This increase is largely attributed to a combination of geopolitical tensions and supply disruptions in key oil-producing regions. […]