Michael Hsu, the acting head at the United States Office of the Comptroller of the Currency, said stablecoins need standards comparable to the early internet. In a written statement following his appearance at the Artificial Intelligence and the Economy event in Washington D.C. on Wednesday, Hsu said stablecoins lacked “shared standards,” were “interoperable,” and needed
It did not take long for the US major indices to turn back into the negative after running higher at the open. The Dow industrial average is now down -66 points or -0.2% at 33173.42 S&P index is down -4.11 points or -0.10% at 4171.10 NASDAQ index is down -37.85 points or -0.30% at 12452.89
The price of the GBPUSD is trading near lows for the day at 1.2521. That is taking the pair closer to the natural support at 1.2500. It is also nearing the 61.8% retracement of the move up from the 2020 low at 1.24936. Looking at the daily chart, the price moved below a swing area
New Delhi: Gold prices declined by Rs 258 to Rs 51,233 per 10 grams in the local market here on Wednesday in line with lower international metal prices, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 51,491 per 10 grams. Silver also declined by Rs 327 to Rs
Selloff in Euro accelerates again today, as Germany benchmark 10-year yield tumbles back below 0.8 handle. Swiss Franc and Sterling are also the weaker ones. Australian Dollar is supported by stronger than expected CPI reading, but looks rather vulnerable into US session. Indeed the greenback is probably ready to power up again, including against commodity
In this article BA A Boeing Co. Dreamliner 787 plane with AirEuropa livery moves past the company’s final assembly facility in North Charleston, South Carolina, U.S., on Tuesday, Dec. 6, 2016. Travis Dove | Bloomberg | Getty Images Boeing reported a wider adjusted loss and lower revenue than analysts expected as the company faced higher
XAG/USD continues to trade with a downside bias and hit more than two-month lows in the $23.20s on Wednesday. The buck continues to advance, weighing on the pair, amid risk-off flows, geopolitical jitters and Fed tightening bets. Continued buck buoyancy against the backdrop of still very jittery global market risk appetite (US stocks have pared
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The first part of the headline is related to today’s Australian Q1 CPI data which say the ‘trimmed mean’ measure of core inflation (the RBA’s go-to measure of underlying inflation) jump above the top of the Reserve Bank of Australia’s target band of 2 – 3% to 3.7% y/y. The headline rate hit a whopping
The USDCAD moved higher yesterday and away from it’s 100 day MA. The high yesterday stalled ahead of a lower swing area that is ahead of the extremes from 2021 in 2022. That swing area in the USDCAD comes between 1.27857 and 1.28132. In trading today, the USDCAD initially moved lower in the Asian session,
Gold prices eased on Wednesday as the dollar held ground at its highest in more than two years and pressured demand for greenback-priced bullion. FUNDAMENTALS * Spot gold was down 0.1% at $1,903.16 per ounce, as of 0037 GMT. U.S. gold futures were up 0.1% at $1,905.80. * The dollar held steady after climbing to
Markets sentiment stabilized a bit in Asia, following the recovery in US stocks overnight. Commodity currencies are paring some losses while Dollar and Yen are retreating. But so far, the Japanese currency is still the strongest one for the week, backed by overall risk-off sentiment, while Dollar is also firm, except versus Loonie. Euro is
In this article PEP In this photo illustration PepsiCo products are shown on October 05, 2021 in Chicago, Illinois. Scott Olson | Getty Images PepsiCo on Tuesday reported quarterly earnings and revenue that topped analyst expectations, as consumers paid more for their Doritos, Quaker oatmeal and Gatorade. On the heels of its strong performance, the company raised
USD/JPY reaches 127.80 on a bullish open test-drive session. The market participants are discounting the neutral stance of the BOJ in its monetary policy meet. Some measures for supporting yen are highly expected. The USD/JPY pair has tested 127.80 in the Asian session as the asset is gradually advancing despite a steady move in the US
The Optimism Foundation has unveiled a new governance structure and token as part of its ongoing efforts to bring scalability and cost efficiency to Ethereum, the world’s largest smart contract platform. The “Optimism Collective” was introduced Tuesday afternoon in a lengthy post that outlined its mission and governance mandate. Described as a “large-scale experiment in
There’s an old saying that a bull market ends when the ‘generals’ of the rally are taken out and shot. Undoubtedly, the generals of the most-recent era have been FAANG and chipmakers. If you pull up any of those charts, they’re looking precipitous or worse. One of the holdouts has been Tesla but today it’s
The NASDAQ index is a tumbling lower. It is currently down -356.76 points or -2.74% at 12648.10. The low price reached 12631.63. Looking at the daily chart, the swing low today has moved into the lower extreme area for 2020 which comes between 12555.35 and 12670.08. The low price for the year was reached on