Tag Archives: Currencies

The US Census Bureau reported that Durable Goods Orders in August improved by 0.2% month-on-month (m/m) following a 5.6% decline in the previous reading. The EUR/USD currency pair, one of the important barometers of global economic sentiment, found itself under pressure during the early Asian session earlier today, struggling around the 1.0500 mark. EUR/USD Pair A recent report from Fxstreets highlighted that one of the major drivers behind the weakening of the EUR/USD pair is the...

CoinspeakerUS Dollar Remains Steady as China Surprises by Keeping 5-Year Interest Rates Unchanged China keeping the fiver-year loan rates unchanged has put breaks on the five weeks rally in the US Dollar. Investors now wait for the Federal Reserve's Jackson Hole symposium for any further guidance. US Dollar Remains Steady as China Surprises by Keeping 5-Year Interest Rates Unchanged

CoinspeakerJapanese Yen Slumps to Lowest Level Against US Dollar Since November 2022 While the Japanese currency is headed towards a downward trajectory, the US dollar has displayed a strong uptrend since the close of July. Japanese Yen Slumps to Lowest Level Against US Dollar Since November 2022

CoinspeakerCircle CEO Jeremy Allaire Cites Major Threat to USD in Global Economy The Circle CEO said that it's time for the US to build on-chain dollars and embrace the multichain future, otherwise, the reserve currency could lose market share to China and Europe. Circle CEO Jeremy Allaire Cites Major Threat to USD in Global Economy

CoinspeakerReserve Bank of India (RBI) in Talks with Other Central Banks to Promote Digital Rupee for Cross-border Payments The RBI Governor Shaktikanta Das has severally admitted that the country is moving towards CBDC adoption amid de-dollarization. Reserve Bank of India (RBI) in Talks with Other Central Banks to Promote Digital Rupee for Cross-border Payments

CoinspeakerTurkey’s Inflation Recovers despite Decline in Turkish Lira The Central Bank raised the country's key interest rate from 8.5% to 15% last month. Turkey’s Inflation Recovers despite Decline in Turkish Lira

Now, wholesale payment clients including renowned multinationals can choose to transfer either dollar or euro to/from their JPMorgan accounts anywhere in the world.  American multinational investment bank JPMorgan Chase & Co (NYSE: JPM) has introduced euro-dominated payments for its corporate clients as unveiled by Basak Toprak, JPMorgan’s head of Coin Systems for Europe, the Middle East and Africa. This was delivered as part of the investment giant’s plan to expand one of the most...

Several Wall Street Banks, including Goldman Sachs, have cut their outlook on growth in China as the economy struggles. Leading global investment banking and management firm Goldman Sachs has joined several Wall Street banks to reduce its growth outlook for China. This downgrade comes as the East Asian powerhouse is experiencing a dwindling economy as it battles the effects of the coronavirus pandemic. Goldman Sachs reduced the growth outlook for China’s full-year 2023 GDP (gross...

Laurence Fink described the debt ceiling deliberations as bad for the dollar as the Blackrock CEO predicts further interest rate hikes. The CEO of investment management company Blackrock is not excited about the ongoing attempt to raise the US debt ceiling. CEO Laurence Fink recently spoke about the “drama” surrounding the debt ceiling increase while discussing inflation and other issues. Observers believe the ongoing situation may turn out bullish for Bitcoin. Speaking at a financial...

Amid mounting debt-limit default risks, US investors have turned to Bitcoin as ‘digital gold’ to better hedge their savings.  Amid rising debt-limit default risks, Bitcoin (BTC) is the preferred safe-haven asset compared to other established global fiat currencies. A recent report stated that investors have turned to BTC to hedge their investments, compared to the US dollar, Japanese yen, or Swiss franc-yielding assets. In addition, Bitcoin’s growing popularity as a veritable option rivals...