The U.S. dollar shed ground against most of the major currencies on Thursday with traders reacting to the latest batch of economic reports, and looking ahead to the Commerce Department\'s report on personal income and spending in the month of May, which includes readings on inflation said to be preferred by the Federal Reserve. The...
The Japanese yen weakened against other major currencies in the Asian session on Monday, as traders speculate over an end to the Bank of Japan\'s negative interest rate policy this week. The positive wage data and sticky inflation reports from the nation had spurred traders to speculate the BOJ will end its ultra-loose policies, at...
By Paritosh Bansal (Reuters) - Banks are finally signing up for a U.S. Federal Reserve funding backstop that has been lying nearly dormant for more than two years, putting them in a stronger position to deal with any stress. But it is unclear whether they will want to use it in a crisis. The Standing...
The FTX estate, responsible for managing the defunct exchange’s bankruptcy, has auctioned off the last of its heavily discounted Solana (SOL) tokens. The tokens were sold to Pantera Capital and Figure Markets at a significantly reduced price as part of efforts to reimburse creditors and former clients. FTX Sold $2.6 Billion Worth Of Solana Token...
The South Korea stock market turned lower again on Thursday, one day after ending the three-day slide in which it had given up almost 20 points or 0.7 percent. The KOSPI now rests just above the 2,660-point plateau and it may tick lower again on Friday. The global forecast for the Asian markets suggests little...
The U.S. Dollar extended gains against major currencies during the week ended October 18 amidst growing expectations of a Trump presidency, widely perceived as boosting the U.S. dollar. The greenback has gained amidst perception that Trumps tariff and tax policies would keep U.S. interest rates high. The greenback strengthened against the euro, the British pound,...
Crypto adoption is heating up in the Middle East, with the average daily number of crypto traders in the area surpassing 500,000 in February 2024, according to Bitget Research. The surge represents a 51% increase from February 2023, based on data from centralized crypto exchanges (CEXs). The region mostly depends on global crypto platforms for...
Manufacturing activity in the U.S. unexpectedly contracted at a slightly faster rate in the month of June, according to a report released by the Institute for Supply Management on Monday. The ISM said its manufacturing PMI edged down to 48.5 in June from 48.7 in May, with a reading below 50 indicating contraction. Economists had...
Retail sales in the U.S. unexpectedly crept higher in the month of August, according to a report released by the Commerce Department on Tuesday. The Commerce Department said retail sales inched up by 0.1 percent in August after surging by an upwardly revised 1.1 percent in July. The uptick surprised economists, who had expected retail...
After an early drop and a subsequent recovery that resulted in a positive spell till the penultimate hour, the Canadian market retreated in the closing minutes of the session on Tuesday. Amid a lack of fresh triggers, investors once again stayed reluctant to make significant moves. The benchmark S&P/TSX Composite Index ended with a loss...