News

News

Sterling at 2019 Lows on Brexit Fears, Aussie Slides

The British pound was trading near its lowest levels of the year on Tuesday as fresh fears over the prospect of a no-deal Brexit weighed, while the Australian dollar was pressured by growing expectations for another rate cut by the country’s central bank. The yen and the euro gained ground, as investors awaited policy-setting meetings by the U.S. Federal Reserve and the Bank of Japan as well as a conference organized by the European Central Bank, all scheduled this week. "While major cur...
Posted on: Jun 18, 2019 07:49:29 Read More

Dollar Steady near 2-Week Highs with Fed Meeting in Focus

The dollar was holding steady near two week highs against a currency basket on Monday ahead of a Federal Reserve meeting which officials could use to flag a rate cut later this year as the global growth outlook weakens amid heightened trade tensions. While the U.S. central bank is widely expected to hold back from cutting interest rates on Wednesday some investors are betting that Fed Chairman Jerome Powell could use the meeting to lay the groundwork for cuts later in the year The U.S. do...
Posted on: Jun 17, 2019 09:36:33 Read More

Dollar Hits 3-Week Lows on Fed Rate Cut View

The U.S. dollar hit three-week lows against a currency basket on Tuesday as growing expectations for an interest rate cut by the Federal Reserve pressured Treasury yields, while persistent concerns over the global growth outlook boosted the safe haven yen. The benchmark 10-year Treasury's yield fell to its lowest since September 2017 overnight, near 2%, after St. Louis Federal Reserve President James Bullard said a rate cut "may be warranted soon" given weak U.S. inflation and the thr...
Posted on: Jun 4, 2019 14:24:27 Read More

Bitcoin Hovering Near 1-Year High

Bitcoin was hovering close to its highest levels in a year on Thursday after a rally that has seen it rise around 140% so far this year, bringing it closer to testing the $9,000 level. Bitcoin was at $8,747 on the Investing.com Index as of 7:10 AM ET (11:10 GMT), within striking distance of the high of $8,902.8 reached on Monday, its strongest level since May 2018. After tumbling from record highs close to $20,000 reached in December 2017, the digital currency spent most of the first quar...
Posted on: May 30, 2019 12:13:09 Read More

Dollar Holds Gains as Trade Fears See Investors Seek Safe Havens

The U.S. dollar was hovering near two year highs against a currency basket on Thursday as persistent concerns over global trade tensions prompted investors to seek refuge in safe haven assets. With the trade spat between the U.S. and China showing no signs of easing concerns that global economic growth will be hit have loomed over financial markets in recent sessions, leading to rising risk aversion. The U.S. dollar index was 98.132 by 03:17 AM ET (07:18 GMT), not far from a two-year...
Posted on: May 30, 2019 08:11:01 Read More

South African Rand Rocked by Political Uncertainty

South Africa’s rand broke out of a long-term trading range on Wednesday amid record outflows from the country’s stock market and uncertainty around the composition of President Cyril Ramaphosa’s cabinet. An delay in the announcement of the executive unnerved investors who are counting on Ramaphosa to implement reforms to revive a flagging economy. Foreigners sold a net 13.3 billion rand ($894 million) of South African equities on Tuesday, the most on record, as a re-balancing ...
Posted on: May 29, 2019 11:20:14 Read More

Crypto Recovers; Telecoms Giant AT&T Accepts Payments in Crypto

The crypto market recovered on Friday mid-day in Asia with most major cryptocurrencies trading higher. Bitcoin added 2.20% to $7,834.6 by 12:54 PM ET (03:54 AM GMT). With that said, the coin has not been able to climb back to the $8,000 level since Wednesday, after hitting a 10-month high at $8,287.2 in mid-May. Like Bitcoin, XRP gained 0.69% to $0.37636 and Litecoin rose 1.60% to $88.799. However, Ethereum dropped 0.06% to $242.9. The total market cap we...
Posted on: May 24, 2019 08:46:14 Read More

Bitcoin Edges Lower for Third Day as Tether Drama Rolls on

Prices of the largest digital currency Bitcoin ticked lower for a third consecutive day on Wednesday, after fresh disclosures in the ongoing Tether lawsuit shed more light on one of the bigger crypto governance scandals of recent months. On Tuesday, a lawyer for Tether – a stablecoin whose main marketing claim is that it is pegged to the U.S. dollar - admitted in court that it invested some of its reserves in Bitcoin, according to media reports. Tether shares management and ownership with...
Posted on: May 22, 2019 15:34:46 Read More

Pound Falls After Reports of Pressure on May to Resign

Sterling slumped on Wednesday after reports that U.K. Prime Minister Theresa May could resign as soon as today amid continued Brexit chaos. GBP/USD fell 0.5% to 1.2637 as of 10:22 AM ET (14:22 GMT), a low not seen since January. The pound also fell to a four-month low against the euro, with EUR/GBPjumping 0.6% to 0.8833. May proposed a revised version of the Withdrawal Agreement Bill to Parliament on Wednesday. The bill will be officially published on Friday and includes the option o...
Posted on: May 22, 2019 15:32:18 Read More

Sterling Falls on Reports That Theresa May Could Resign in June

Sterling was lower on Thursday after reports that U.K. Prime Minister Theresa May will step down over the summer regardless of whether or not her Brexit withdrawal agreement passes. Cable was down 0.4%, with GBP/USD at 1.2790 as of 10:16 AM ET (14:16 GMT). Parliament is expected to vote on the Brexit agreement the week commencing 3 June. The Prime Minister has previously said she would step down if the plan is passed. Boris Johnson confirmed earlier that he would run to replace May....
Posted on: May 16, 2019 16:12:48 Read More

Bitcoin Rises Above Key $8,000 Level; Other Cryptos Also Gain

Bitcoin surged over 36% over the past 7 days to reach $8,000 on Wednesday in Asia. The bullish sentiment also sent other major digital coins higher. Bitcoin traded 0.24% higher to $8,008.2 by 12:52 AM ET (04:52 AM GMT). The digital coin reached this year’s high at $8,306.8 the day before. The momentum remained and pushed Bitcoin higher over the past week. Meanwhile, Ethereum rose 7.0% to $225.65, XRP was up 8.68% to $0.42774, and Litecoin added 1.95% ...
Posted on: May 15, 2019 07:41:59 Read More

Dollar Rises as Fed Officials Push Back Against Call to Cut

The dollar was higher in early trading in Europe on Wednesday, supported by comments from senior Federal Reserve officials playing down the likelihood of interest rate cuts, and by a fresh bout of safe-haven buying on geopolitical tensions. At 03:00 AM ET (0700 GMT), the dollar index, which measures the greenback against a basket of six major currencies, was at 97.36, up nearly half a percent from Monday’s lows and up 0.1% from late on Tuesday. The dollar was strongest against t...
Posted on: May 15, 2019 07:40:03 Read More

Dollar Steadies After Hitting 3-Week Low on Rate Cut Hopes

Foreign exchange markets are correcting some of Monday’s sharp movements in early trade in Europe on Tuesday, slowly absorbing the shock of the trade war escalation between the U.S. and China. At 03:00 AM ET (0700 GMT), the dollar index was at 97.115, with the greenback giving up some of its gains against the euro, and risk-proxy currencies such as the Aussie, while clawing back its losses against the yen. The index measures the greenback against a basket of six m...
Posted on: May 14, 2019 07:51:06 Read More

Hackers steal $41 million worth of bitcoin from Binance cryptocurrency exchange

Hackers stole bitcoin worth $41 million (31 million pounds) from Binance, one of the world's largest cryptocurrency exchanges, the company said on Wednesday, the latest in a string of thefts from cryptocurrency exchanges around the world. The 7,000 bitcoin were withdrawn by hackers using a variety of techniques, "including phishing, viruses and other attacks", according to a post on Binance's website by chief executive officer Zhao Changpeng. The post said user funds would not be affected beca...
Posted on: May 8, 2019 07:30:02 Read More

Dollar Holds Gains After Fed Signals Further Patience

The dollar was holding on to gains early Thursday in Europe after the Federal Reserve poured cold water on the idea of cutting interest rates any time soon. Fed Chair Jerome Powell said at his regular press conference that Fed officials “don’t see a strong case for moving in either direction,” indicating that it believes the weakness of inflation and private demand in the first quarter will be temporary. His comments, which pushed back against public lobbying for lower rates ...
Posted on: May 2, 2019 07:56:27 Read More

Dollar Steadies Ahead of Fed; China Trade Deal Inches Closer

Public holidays and the approach of the Federal Reserve’s monetary policy statement are keeping a firm lid on foreign exchange movements early Wednesday, with the euro holding on to most of its gains after a stronger-than-expected first quarter GDP report on Tuesday. With Japan and much of Europe closed, the Fed’s statement, due at 3 PM ET (1800 GMT) and Chairman Jerome Powell's subsequent press conference will likely overshadow everything else in the market on Wednesday. A decisio...
Posted on: May 1, 2019 09:47:51 Read More

Euro Calm After Spain Poll; Trump Hits Petrocurrencies

Major currencies were little changed in early trading in Europe Monday, although a positive tone in equity markets in the wake of the U.S. GDP report on Friday helped the Aussie and kiwi to strengthen a little against the dollar. There was no obvious impact on the euro from the general election in Spain, which was won by the center-left PSOE party, as predicted by opinion polls ahead of the vote. PSOE leader Pedro Sanchez won’t be able to form a majority government wit...
Posted on: Apr 29, 2019 08:04:30 Read More

Dollar Drifts Ahead of GDP Report; Lira, Peso Slide

The dollar was consolidating near its highs for 2019 in early trading on Friday, showing little sign of weakening after a week of data and central bank actions that have underlined the relative strength of the U.S. economy, at least for the present. At 03:00 AM ET (0700 GMT), the dollar index, which measures the greenback against a basket of six major currencies, was at 97.843, down 0.1% from a high of 97.958 touched overnight. The euro was at $1.1143, after drifting as low as $...
Posted on: Apr 26, 2019 08:17:30 Read More

Dollar Surges to New High on Dovish BoJ, BoC Outlooks

The dollar has come off Wednesday’s highs in early trade in Europe on Thursday, but is still well bid on the back of news flow suggesting the U.S. economy remains a pillar of relative strength. The euro fell to its lowest level in nearly two years against the dollar late Wednesday, at $1.1141, after disappointing business surveys from Germany and France earlier in the day. It has barely recovered since. By 03:00 AM ET (0700 GMT), it was at $1.1160. The Britis...
Posted on: Apr 25, 2019 09:30:49 Read More

Forex - Dollar Surge Continues on Strong Earnings, Housing Data

The dollar is continuing its march higher early Wednesday in Europe, enjoying further support from a strong corporate earnings season at home coupled with better-than-expected economic data. Encouraging reports from companies as diverse as Twitter, United Technologies and Lockheed Martin were buttressed on Tuesday by a robust new home sales report, propelling U.S. stock indexes to new record high closes. As such, the dollar is being supported by strong demand ...
Posted on: Apr 24, 2019 08:39:32 Read More