Bitcoin extended its losses on Friday, after China announced plans to crackdown on the digital currency. The Chinese Vice Premier, Liu He, announced plans by the government to crack down on Bitcoin’s mining and trading activities, as the Chinese Financial Stability and Development Committee announced earlier today that measurements against …

Oil prices rose on Friday, amid possible supply disruptions in North American due to a subtropical storm forming near the Gulf of Mexico. However, crude futures failed to recover all of its weekly losses. Brent crude futures for July delivery gained $1.33, or 2%, to settle at $66.44 per barrel. …

Gold prices declined on Friday, after rising for six consecutive sessions, as risk sentiment improved and stock markets rebounded from recent declines, which led to reduced demand for safe haven assets. A rising U.S. Dollar (USD) also weighed down on gold’s futures. In addition, some profit taking activity probably led …

European stocks closed higher on Friday, supported by positive economic data that took the attention away from inflation fears. Economic indicators showed an improvement in France’s business activity and the German services sector, with readings exceeding expectations in May. The STOXX Europe 600 index finished higher by 0.61%, with the …

The U.S. Dollar (USD) is rising on Friday, supported by positive economic data that showed an expansion in the output of the services and industrial sectors, registering fresh daily highs, after hitting its lowest level in roughly four months. However, the greenback is yet to recover all of its weekly …

Home sales in the United States continued to decline during April for the third consecutive month, data showed on Friday. According to the National Association of Realtors (NAR) existing home sales fell by 2.7% to a seasonally adjusted annual rate of 5.85 million units last month. Meanwhile, home sales rose …

Factory activity in the United States expanded this month, supported by a robust local demand, data showed on Friday. The flash U.S. manufacturing purchasing managers’ index (PMI) rose to 61.5 in the first half of May from 60.5 in April, according to IHS Markit. This marked the highest reading for …

The United States Federal Reserve is showing more signs that it is moving forward with efforts to establish its own official digital currency. The Fed announced on Thursday that it plans to publish a research paper in the summer that explores the prospects of issuing a digital currency, CNBC reported. …

The New York Stock Exchange (NYSE) closed higher on Thursday, following three consecutive declines, as risk appetite improved with Wall Street investors reversing the recent selling pressures. Inflation fears seem to be fading by the recently released minutes from the Federal Reserve’s latest meeting, which showed an expectation of discussing …

The United States economy is showing some recovery signs and the Federal Reserve might sooner rather than later start considering reducing its monetary support and easing policies, President of the Federal Reserve Bank of Dallas Robert Kaplan said on Thursday. “Maybe taking the foot gently off the accelerator would be …