Market Update

As of this writing, Bitcoin is down 7.17% from its previous daily closing price of $68359, primarily due to profit-taking and risk aversion. However, as Bitcoin and Ethereum take centre stage in the market, altcoin season is picking up steam. The market is gaining further excitement and confidence right now, …

Fed Chair Jerome Powell is expected to reiterate his stance that interest rate cuts are not necessary right now, particularly in light of recent inflation-linked data that indicated price pressures are still persisting.The Fed will release its Beige Book poll, which is a nationwide study of regional business contacts, on …

China’s Premier Li Qiang addressed the National People’s Congress annual meeting, acknowledging that achieving 5% economic growth this year will be challenging due to difficult times. Li Qiang outlined plans to boost spending on advanced technology, fortify China’s military, and support the economy. However, no big package of stimulus was …

With Apple as well as other big names in the tech industry retreating, US stocks dipped on Tuesday, headed for another down session. The average number of equities that traded in the red was almost two thirds. Conversely, the only two companies able to defy the general trend were 3M …

The DXY Index is 0.16% down, pointing to the 103.675 mark at the time of writing. The dollar is experiencing choppy trading due to China’s National People’s Congress, where markets were not impressed by the stimulus package to restore China’s growth and economy. This has triggered risk aversion and pushes …

At the start of trading on Tuesday, European stocks faced a downturn, echoing the performance of Asian stocks, as investors remained cautious amidst pledges from China that failed to bolster market sentiment. This cautious sentiment prevailed ahead of the release of key economic data from both the euro zone and …

During Tuesday’s trading session on March 5, gold experienced a 0.45% increase, reaching levels of $2,124 per ounce. This uptrend was supported by growing expectations of a potential interest rate cut by the Federal Reserve. According to Fedwatch, a service that monitors forecasts for the Federal Reserve’s decisions, there is …

The market capitalization of Bitcoin, the leading cryptocurrency by market value, surged to a historic high of $1.35 trillion before experiencing a slight downturn. Bitcoin climbed to $67.5 thousand, edging close to its previous record of about $69 thousand set in November 2021. Presently, Bitcoin is trading at $66.5 thousand, …

Japan’s Nikkei index managed to recover most of its early losses and closed relatively stable on Tuesday, March 3, as investors seized the opportunity to buy into declining stocks following a dip from record highs. The index dipped marginally by 0.03% to 40,097.63 points, significantly paring down its losses which …

Mohammed Hashad, Head of Research and Development at Noor Capital and member of the US Association of Technical Analysts, commented on the key developments across financial markets and the performance of the most important assets, in an interview on Dubai TV. Asked about cryptocurrencies, in light of Bitcoin’s recent surge …