Cryptocurrencies managed to rise on Monday, against a number of factors that led to a series of the recent decline, amid a crackdown by the Chinese government and increased selling pressures. Over the past 24 hours, Bitcoin rose by about 10.4%, trading at $38,444.72, reducing its losses over the past …
Read More »Wall Street Close Higher with Solid Gains
The New York Stock Exchange (NYSE) finished higher on Monday, opening the week with solid gains on the back of a strong rebound by technology stocks, amid hopes in Wall Street for the economic recovery and a decline in Treasury bond yields. The Dow Jones Industrial Average rose by about …
Read More »Oil Recovers Most of Last Week’s Losses
Oil prices rose on Monday, as recent fears of a sudden rise in the global output eased, with the U.S. benchmark futures finished at their highest level in a week. Recent remarks by the United States government suggested that there are concerns about Iran’s commitment to renewing the nuclear deal. …
Read More »Gold Resumes Gains to Finish at Highest Level Since January
Gold prices rose on Monday, supported by the decline of the U.S. Dollar (USD) and Treasury bond yields. An improved risk sentiment might have limited the yellow metal’s gains, as it failed to reach the $1,900 an ounce level. However, gold futures still managed to close at their highest level …
Read More »USD Declines and Nears Lowest Level in Four Months
The U.S. Dollar (USD) declined on Monday, beginning the week with a relatively weak performance, following a rebound by the end of the previous week. An improved investors’ sentiment across global markets on expectations for economic recovery helped riskier assets and currencies rise, which weighed down on the greenback. The …
Read More »European Stocks Close Higher Near All-Time High
European stocks finished higher on Monday, starting the last week of May with a positive performance, amid an improved risk sentiment on the back of positive earnings reports by major listed companies. The STOXX Europe 600 index finished higher by about 0.72% at 445.07 points, very close to its record …
Read More »BoE’s Bailey Warns Against Cryptocurrencies
The Bank of England (BoE) Governor Andrew Bailey has expressed concerns about getting carried away in financial technology and innovation. His remarks came in a speech to the British Parliament’s Treasury Committee on Monday. “I do not want to be seen as a Luddite. I’m skeptical about crypto assets frankly …
Read More »BoE’s Bailey Expects Limited Impact from Rising Inflation
The Bank of England (BoE) Governor Andrew Bailey is not expecting long-term impacts from thw recent surge in consumer prices. The inflation rate in the United Kingdom (UK) rose last month to 1.5%, compared with 0.7% in March, as the economy recovers from the coronavirus pandemic, and amid rising energy …
Read More »U.S. Business Borrowing Rises 19% in April
Borrowing for capital investments by companies in the United States amounted to $9.8 billion in April, increasing by 19% on an annual basis, according to data by the Equipment Leasing and Finance Association (ELFA) released on Tuesday. The surge in borrowing by U.S. companies came amid the recovery from the …
Read More »Dollar Stuck Near 3-Month Low, And Bitcoin Facing Difficulties
The dollar settled near its lowest level in three months against a basket of major currencies on Monday, with riskier currencies continuing to benefit from bets on a strong recovery in the global economy. The dollar index hovered around the 90 level, down 0.2% and close to its three-month low …
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