Loonie to weaken on strong US NFP combined with weak Canadian Employment report – Commerzbank
As the February labor market data is set to be published, the CAD market is waiting with bated breath to see how it will impact the Loonie. Economists at Commerzbank have analyzed the potential outcomes of the reports and what they could mean for the CAD market. The Canadian labor market report is due to […]
Facebook Parent Company Meta Exploring Decentralized App: Report
Meta, the parent company of Facebook, is reportedly working on a new decentralized text-based app. According to a report by Tech Crunch, the platform will be developed as a standalone product that allows users to share text updates. The app is still under development and is currently referred to as P92 as its codename. Meta […]
FX option expiries for Mar 10 NY cut
The foreign exchange market, also known as forex or FX, is the largest and most liquid market in the world. It enables the global trade of currencies, which impacts businesses and individuals around the world. This market operates 24 hours a day, five days a week, and is influenced by a variety of economic, political, […]
Ethereum Price Nosedives and Signals A Larger Degree Decline
Ethereum is a decentralized, digital currency that has been around since 2015. It is based on a blockchain technology, similar to bitcoin, but with some differences. In recent days, the price of Ethereum has taken a hit, with reports indicating that it has plunged by over 8%. This article will take a closer look at […]
Hedera Temporarily Closes Wallet And App Access!
Hedera Hashgraph, a distributed ledger technology firm known for its fast and secure blockchain network, has temporarily suspended access to its wallet and app to protect users from a potential security breach. The move, which also involved turning off network proxies on its mainnet, has attracted criticism from some users who questioned Hedera’s commitment to […]
6.9655 vs. the previous fix of 6.9666
In the world of currency trading, the fixing of the yuan rate by the People’s Bank of China (PBOC) has always been a hot topic. This is due to the fact that China, as one of the world’s largest economies, wields massive influence over global financial markets. Today, the PBOC set the yuan at 6.9655 […]
Bitcoin price falls to a multi-month low, but data points to a possible short-term bounce
Bitcoin Struggles as Market Reacts to Fed Rate Hike Expectations Bitcoin is enduring a tough start to March, with prices falling to a two-week low of $20,050 due to the market’s resurrection of inflationary fears. Jerome Powell’s hawkish comments on March 7 amplified traders’ expectations of a 50-basis point hike in the upcoming policy meeting, […]
Biden presents $6.8 trillion budget, proposes raising taxes
On May 28, 2021, US President Joe Biden presented his budget for the fiscal year 2024, outlining his plan to cut $3 trillion from the fiscal deficit over the next decade. The budget also includes proposed tax hikes on both wealthy individuals and large corporations, which is predicted to add more revenue to the government’s […]
Cardano Might Turn Around If It Moves Above These Two Levels
Cardano (ADA) Might Turn Around If It Moves Above These Two Levels Cardano’s price remained bearish at the time of writing, with the altcoin trading at $0.31. The coin has been on a downtrend for quite some time now, with a depreciation of double digits in the past week. The 11% decline on the weekly […]
One step backwards now
or was positive, however, the market fell short of expectations in its rebound from Wednesday’s sell-off. The S&P 500 semi reversed Wednesday, but the bounce left something to be desired. The premarket moves on Thursday were promising. Futures were up for all three major indexes. The unemployment claims report was also positive, offering hope for […]