6.9666 vs. the prior close of 6.9565
China’s central bank, The People’s Bank of China (PBOC), has set the yuan at 6.9666 against the US dollar in recent trades. This is a slight increase compared to the previous day’s closing rate of 6.9565. As the currency of the world’s second-largest economy, the yuan’s exchange rate is quite important due to the huge […]
Bitcoin Proponents Slam Nobel Laureate Paul Krugman After Venmo Payment Issue
Nobel Prize-winning economist Paul Krugman recently took to Twitter to vent his frustration with payment processing company Venmo. Krugman stated that he had been a user of Venmo for years but was now unable to make payments. Despite spending hours in chat with representatives, the issue remained unresolved. Krugman expressed his frustration on Twitter, and […]
US president Joe Biden and EU’s Ursula Von der Leyen expected to agree to work toward a trade deal
On Friday, June 15, 2021, the President of the United States, Joe Biden, and the President of the European Commission, Ursula von der Leyen, held a joint press conference following their meeting in Brussels, Belgium. One of the main topics of discussion was their agreement to work towards a trade deal between the United States […]
The Best Choice To Swap Tokens
SushiSwap is a decentralized exchange (DEX) that operates on the Ethereum blockchain. Unlike traditional exchanges, which are centralized and controlled by a single entity or organization, DEXs are decentralized and operate autonomously through smart contracts. SushiSwap was created as a clone of Uniswap, another popular DEX, with a few differences and unique reward methods. SushiSwap […]
Machine money gains traction among EU regulators; stablecoins under consideration
The growth of stablecoins within the crypto asset market is undeniable, and the recent report by the Digital Euro Association (DEA) highlights potential opportunities for European-Union-denominated stablecoins within the context of machine-to-machine (M2M) payments and other aspects of decentralized finance. The report titled “The future of machine money – Opportunities for stablecoins in Europe” examines […]
Break above 4081/98 needed to see strength back to 4195/4203 – Credit Suisse
The S&P 500 has been a popular topic among economists and investors alike. It has managed to hold steady at key support levels and is currently showing impressive resilience in the face of market turmoil. However, recent analysis shows that a break past 4081 to 4099 is necessary to see further gains in the index. […]
Treasury curve inversion deepens ahead of second day of testimony by Fed’s Powell
On Wednesday, the financial markets continued to be in turmoil as the Treasury curve inverted even further, causing concern among investors and experts alike. This phenomenon occurs when the yields on shorter-term Treasury bonds exceed the yields on longer-term bonds, and historically has been an accurate indicator of an impending economic recession. The spread between […]
Polygon (MATIC) At Risk Of Dropping To $1 Despite Mercedes Benz Deepening Partnership
Polygon (MATIC) At Risk Of Dropping To $1 Despite Mercedes Benz Deepening Partnership The Polygon (MATIC) price has shown an extremely bullish performance until mid-February but has come under heavy pressure in the last two weeks due to the sentiment in the broader crypto market, a supposed downtime of the Polygon blockchain, and the layoff […]
Exports expected to contract around 3.0% in 2023 – UOB
China’s Trade Balance: What Recent Results Mean for the World Economy The Chinese economy’s trade balance figures for the first two months of 2022 were released recently. The data show that both exports and imports have been declining continuously since the last quarter of 2021. Ho Woei Chen, an economist at UOB Group, has commented […]
FX reserves increase more than expected in February – UOB
Indonesia’s Foreign Exchange Reserves Increased to USD 140.3 Billion in February 2023 Enrico Tanuwidjaja, Economist at UOB Group, reviews the latest FX reserves figures in Indonesia. Indonesia has been experiencing a steady increase in its foreign exchange reserves, as stated by Enrico Tanuwidjaja, Economist at UOB Group. The latest figures reveal that the reserves rose […]