Market Update

On Thursday, the GBP/JPY reached a new four day high at 151.48 as market sentiment ended mixed, and it could weigh on the British pound. The cross-currency declined to a daily low of 149.53, but as the European session began and the Bank of England released its monetary policy statement, …

The White House has imposed sanctions against SUEX, a virtual currency exchange that enables users to trade cryptocurrency or other digital currencies.The new measures were a reaction to the role played by the Czech Republic-based SUEX’s in facilitating financial transactions for ransomware actors as well as involving illicit proceeds from …

Investors appear to have brushed aside their interest in the progress of talks on the spending plan of USD 3.5 trillion after the meetings between U. S. President Joe Biden and the Democratic lawmakers.Advocates encouraged after disappointment over getting USD 1 billion for the equity related projects in bipartisan infrastructure …

The XAU/USD has now declined and eventually moved back into the negative territory for the second successive day.Gold price was additionally pressured by more and more global central banks. The Federal Reserve on Wednesday indicated that control of the pace of asset purchases may soon be announced if economic progress …

U. S. Crypto billionaire Mike Novogratz said that bitcoin’s firm level at $40,000 during the latest selloff had definitely sent a good sign for the market.Speaking after cryptocurrencies’ sharp selloff at the start of the week, Novogratz also recommended buying digital assets under the current circumstances. He said that he …

U. S. President Joe Biden’s pick for the official position of the Office of the Comptroller of the Currency (OCC) Chair has stirred controversy across the financial circles Biden’s pick is Saule Omarova; a Cornell University’s law professor who has been critical of cryptocurrencies. Omarova adopts a vision on a …

Britain’s FTSE index has been up by 0.2%, while sterling rose 0.8% versus the U. S. dollar to USD 1.37.The Bank of England on Thursday kept monetary policy unchanged and downgraded economic growth projections for the third quarter of 2021.European investors are still digesting signals and comments by the U. …

European stocks have been traded higher Thursday as global markets reacted to the latest policy decisions from the Bank of England and the U.S. Federal Reserve.Investors are still digesting the Fed’s decisions and the statements by the Bank of England, as the IHS Markit’s flash composite Purchasing Managers’ Index (PMI) …

The Bank of England said the chance for higher interest rates appeared to have strengthened on Thursday after it pushed up its forecast for inflation at the end of the year to over 4%, more than twice its target rate.Policymakers at the Bank of England unanimously voted to leave its …

Retail Sales in Canada contracted by 0.6% on a monthly basis in July, the data published by Statistics Canada showed on Thursday. This reading followed June’s increase of 4.2% and came in slightly better than the market expectation for a decrease of 1.2%. Excluding cars, Retail Sales in Canada declined …