The Central Bank of Solomon Islands has launched a proof-of-concept for a central bank digital currency called Bokolo Cash. Japanese blockchain Soramitsu is providing support. Bokolo Cash will be worth one Solomon Islands dollar. Project participants can use it in retail settings in the island nation’s capital Honiara and for person-to-person transfers. Wholesale transfers between
Month: November 2023
Share: GBP soft in line with broader USD tone. Economists at Scotiabank analyze Cable’s outlook. A minor double top around 1.2730 has been struck Sterling’s losses on the session look a little more challenging from a short-term technical point of view. A minor double top around 1.2730 has been struck, targeting a drop in the
As the North American session begins. the USD is the strongest of the major currencies while the EUR is the weakest. The latest Eurozone data released by Eurostat on November 30, 2023, showed that the preliminary Consumer Price Index (CPI) for November came in at +2.4%, lower than the expected +2.7% year-on-year. This comes after
Headlines: Markets: USD leads, EUR lags on the day European equities higher; S&P 500 futures up 0.3% US 10-year yields up 2.3 bps to 4.293% Gold down 0.3% to $2,038.08 WTI crude up 0.8% to $78.47 Bitcoin up 0.3% to $37,841 The session started off with the dollar looking vulnerable once again with USD/JPY hovering
Gold opened on a cautious note on Thursday though the bias was negative. Street awaits key inflation data in the US to take a call on their bets. Meanwhile, the dollar index traded with a slightly positive bias having slipped below the 103 mark, its lowest in three months. Taking cues from the international prices,
Dollar and Euro are emerging as notable underperformers for the week, largely influenced by increasing market anticipation of interest rate cuts by Fed and ECB in the coming year, a sentiment that is also impacting treasury yields. In US, 10-year treasury yield, a key benchmark for market expectations, has dropped below 4.3% for the first
The U.S. economy grew at an even stronger pace then previously indicated in the third quarter, the product of better-than-expected business investment and stronger government spending, the Commerce Department reported Wednesday. Gross domestic product, a measure of all goods and services produced during the three-month period, accelerated at a 5.2% annualized pace, the department’s second
An upcoming ‘scams code framework’ proposed by Australia’s Department of the Treasury considers applying sector-specific codes and standards to banking and cryptocurrency scams, among others. Adding to the efforts of the Australian Competition and Consumer Commission (ACCC), a regulator within the Treasury, to combat scams via the yearly Scams Awareness Week initiative, the Treasury issued
Share: The Japanese Yen continues with its relative outperformance amid hawkish BoJ expectations. Bets for a series of rate cuts by the Fed in 2024 undermines the USD and weighs on USD/JPY. Bears turn cautious and look to the US PCE Price Index before positioning for a fresh impetus. The Japanese Yen (JPY) remains on the
The AUDUSD broke above its 200-day moving average of 50% midpoint of the move down from the July 2023 high on Monday (near 0.65824). The pair also moved above the high of a swing area at 0.6595. That area between 0.6582 and 0.6595 is now support. If the technical bias is to increase more to
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Oil prices edged higher in volatile trading on Wednesday as investors focused their attention on an upcoming OPEC+ output policy meeting and looked past a jump in U.S. crude, gasoline and distillate stockpiles. Brent crude futures were up 43 cents, or 0.5%, to $82.11 a barrel by 11:32 a.m. ET [1632 GMT]. U.S. West Texas
Dollar is stabilizing after earlier selloff but remains the weakest performer for the week. Its modest recovery can be partly attributed to a bounce back against Euro, which is currently under pressure due to Germany’s lower-than-expected CPI readings. Meanwhile, Australian Dollar is experiencing a delayed reaction to Australia’s lower-than-expected monthly CPI readings too. As a
The Marriner S. Eccles Federal Reserve building during a renovation in Washington, DC, US, on Tuesday, Oct. 24, 2023. Valerie Plesch | Bloomberg | Getty Images Interest rate cuts don’t happen during good times, something important for markets to remember amid hotly anticipated easing next year from the Federal Reserve. If the Fed meets market
In this article CRM Follow your favorite stocksCREATE FREE ACCOUNT Marc Benioff, CEO of Salesforce, participates in a conversation on AI and the Future at the Asia-Pacific Economic Cooperation (APEC) Leaders’ Week in San Francisco, California, on November 16, 2023. Andrew Caballero-Reynolds | AFP | Getty Images Salesforce shares rose 7% in extended trading on
Crypto firm Paxos has secured in-principle approval from Abu Dhabi’s regulator on two fronts: to issue stablecoins and conduct digital asset services. In a Nov. 29 announcement, Paxos said the Financial Services Regulatory Authority in the Abu Dhabi Global Market had granted in-principle approval for the company to issue U.S. dollar-backed stablecoins, as well as
Share: The US economy grew at an annual rate of 5.2% in Q3; revised from 4.9%. The US Dollar Index stays in positive territory around 102.80. The real Gross Domestic Product (GDP) of the United States expanded at an annual rate of 5.2% in the third quarter, the US Bureau of Economic Analysis’ (BEA) preliminary
The USDJPY saw a notable decline during the U.S. trading session, with its downward movement intensifying after breaking below the critical 148.00 level. This break led to a sharp drop, bringing the pair to 147.33, a significant swing low that previously marked the beginning of a rally to the recent Wednesday high. For a stronger
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