The dollar index was down 1.025% at 105.26 at 3:15 p.m. The US dollar broadly fell on Wednesday following a cooler than expected US inflation reading for July that raised expectations of a less aggressive interest rate hike cycle than previously anticipated from the American central bank. US consumer prices …

o On Wednesday, Sweden reportedly overtook France as Europe’s largest net power exporter in the first half of 2022, as deep-rooted problems reduced French nuclear availability to historic lows. France has lost its position as Europe’s biggest exporter of electricity as the nation struggles with extended outages at its nuclear …

Fed’s Neel Kashkari said while he is happier to see inflation surprised to the downside, the Fed is far far far away from declaring victory on inflation. He added that ”this doesn’t change my rate hike path”, and he is expecting 3.9% end of this year 4.4% end of next …

The price of Bitcoin (ETH), the leading cryptocurrency, surged to an intraday high of $24,010 on the Bitstamp exchange at 12:48 a.m. UTC. Ethereum (ETH) and other top altcoins also spiked sharply higher. Crypto markets responded favourably after the slower than expected CPI reading, which takes pressure off the Federal …

According to the Federal Reserve Bank of Atlanta’s GDPNow model, the US economy is expected to grow at an annualized rate of 2.5% in the third quarter, up from 1% in the previous estimate.Atlanta Fed explained in its publication that after recent releases from the US Bureau of Labor Statistics …

Indian companies are moving towards several Asian currencies more often to be able to pay for Russian coal imports, according to customs documents and industry sources. Most companies do avoid the US dollar and cut the risk of breaching Western sanctions against Moscow.One large Indian coal deal involves the Chinese …

Bank of England Chief Economist Huw Pill said on Wednesday that wage growth in the UK is running too fast at present, as reported by Reuters.These comments don’t seem to be having a noticeable impact on the British pound’s performance against its major rivals. As of writing, the GBP/USD pair …

US President Joe Biden said on Wednesday that Americans are seeing some signs that inflation may be moderating. “We could face additional headwinds in the months ahead,” Biden added. “We still have work to do but we’re on track.”Earlier in the day, the data published by the US Bureau of …

All market players are standing on their toes to find clues and directions from the most awaited US inflation data to be released on Wednesday. The US dollar extended its weekly decline throughout the first hours of the trading session, but later the dollar managed to recover some ground during …

It was a challenging quarter for Coinbase from an operational perspective. The company said it had 9 million monthly transacting users during the second quarter, down from 9.2 million in the first quarter but more than the estimated 8.7 million. Macroeconomic and cryptocurrency credit resulted in lower trading volume during …