Market Update

The recently released final draft of the U. S. Reconciliation Bill aims to subject investors in the crypto space to a complex tax rule based upon the constructive sales concept.Cryptocurrency users are expected to pay taxes without even selling their crypto assets under the proposed draft which could be passed …

China Evergrande Group said Wednesday that it’s planning to sell its $1.5 billion stake in Shengjing Bank, which comes as an attempt of the group to avoid default. The announcement was added to other practices aiming at easing concerns the collapse of the huge real-states entity could spread through the …

Democrats are expected to vote Wednesday on a temporary legislation that helps avoid partial government shutdown through keeping current levels of federal government funds after Thursday. The move was encouraged by top House Democrats led by majority leader Steny Hoyer who said that there were talks with Senate Democrats suggesting …

Sources said that OPEC+ will likely stick to an existing agreement to add 400,000 barrels per day to its production in November when it meets next week, despite the fact that oil reached its highest level in more than three years above $ 80 a barrel and pressure from consumers …

GBP/USD has tumbled under 1.35, extending its rapid decline. The currency pair hast hit a low of 1.3473, a level last seen in January. The US dollar index continues to rise on Wednesday, for the fourth consecutive day. The dollar index was able to reach its levels during 2021 thanks …

The US dollar reached its highest level this year on Wednesday after rallying as US Treasury yields increased on investor fears that the Federal Reserve could begin withdrawing its policy support at a time when global growth is slowing. The euro fell to $1.1657, its lowest level from November 2020, …

European shares stabilized, after one of the worst market turmoil this year, as investors turned to defensive stocks of the healthcare sector amid persistent concerns about growth and inflation. The pan-European STOXX 600 index rose 0.8 percent after tumbling 2.2 percent on Tuesday, its biggest one-day percentage drop since mid-July. …

Japanese shares closed down more than 2 percent on Wednesday, tracking losses incurred by Wall Street overnight on rising concerns about inflation, while investors awaited the outcome of the ruling party leadership elections that will determine the next prime minister in Japan. The Nikkei average fell 2.12 percent to close …

Gold prices rose, as a slight decline in US Treasury yields provided some support in the face of growing expectations of a faster-than-expected hike in US interest rates that also pushed the dollar to a multi-month peak. And gold rose in immediate transactions 0.3 percent to $ 1739.34 an ounce, …

Japanese Prime Minister Yoshihide Suga said Japan will lift the state of emergency related to the coronavirus in all regions on Thursday for the first time in six months, as the number of new infections and deaths decreases and the burden on the medical system eases. Daily infections fell across …