China’s Central Bank Digital Currency (CBDC) — the digital yuan, or eCNY — has received upgrades giving it smart contract functionality alongside a series of newly unveiled use cases. The smart contract function was launched on the Meituan app, a Chinese app offering retail and food delivery services, according to a Jan. 17 report by
Gold prices held steady on Friday but were on track for a fifth straight weekly gain, as a weaker dollar and hopes of slower U.S. interest rate hikes boosted safe-haven bullion’s appeal. FUNDAMENTALS * Spot gold was little changed at $1,930.59 per ounce, as of 0054 GMT. Prices rose 0.5% this week. * U.S. gold
Australian Dollar tumbles broadly today after weaker than expected job data. Overall risk-off sentiment is also pressuring commodity currencies. On the other hand, Yen and Swiss Franc are strengthening together with Dollar. As for the week, Swiss Franc and Sterling are currently the best performer, thanks to additional support from buying against Euro. Aussie and
EUR/USD grinds higher around intraday top as it braces for the second consecutive weekly gain. Although Fed officials also sync the tune with ECB hawks, hopes of shorter recession in Europe favor bulls. Downbeat US data renew economic fears surrounding the world’s largest economy and probe DXY bulls. ECB President Lagarde’s speech, Fed talks before
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Crude oil snaps back higher after larger than expected build For the second consecutive week, the crude oil inventory data showed a larger than expected build. Last week, the build was 18.962M barrels. This week, another 8.408M were added (well above the -0.593M drawdown expected). And for the 2nd consecutive week, the price of crude
If you can make it all the way to January 19 without a truly tough day then it’s been a great start to the year: Stoxx 600 -1.6% German DAX -1.6% France’s CAC -1.8% UK’s FTSE 100 -1.0% Spain’s IBEX -1.5% Italy’s FTSE MIB +0.3% The question is, whether European stocks fall hard or this
In this article PG Follow your favorite stocksCREATE FREE ACCOUNT Gillette Good News razors on display on January 28, 2005 in San Francisco. Justin Sullivan | Getty Images Procter & Gamble reported year-over-year declines in revenue and profit on Thursday, as higher prices look to offset declining sales volumes. Here’s how P&G performed in its
Gold prices fell by Rs 52 to Rs 56,475 per 10 grams in the national capital on Thursday amid weak global trends, according to Securities. The precious metal closed at Rs 56,527 per 10 grams in the previous trade. Silver also tumbled Rs 850 to Rs 68,500 per kg. “Spot gold prices in the Delhi
Euro is lifted slightly by hawkish comments from ECB officials, as well as the meeting accounts. But overall, it’s risk-on sentiment that matters more for now, supporting Yen and Dollar too. Commodity currencies are so far the worst performers, with Aussie also weighed down by poor job data. Sterling and Swiss Franc are currently mixed.
The recent GBP underperformance is largely due to a less hawkish BoE and sluggish domestic activity data but its underperformance is unlikely to continue in the light of a rebound in global risk sentiment and improving domestic dynamics, economists at HSBC report. GBP to benefit from the UK’s improving external balance “With inflation in the
The USDCAD has continued it’s run to the upside after an early move above the 200 hour MA, ultimately led to the breaking above the confined range between 1.3344 and 1.3454 (110 pips – see red box in the chart below). USDCAD moves up to a cluster of resistance The momentum higher has now taken
Yen bulls are certainly not shying away even after the BOJ policy decision yesterday. In part, I think the constant barrage of commentary (from government officials and those with ties to the central bank) still suggesting a policy shift is enough to fuel the market’s appetite. Meanwhile, the dollar also made a strong comeback after
Prices for wholesale goods and services fell sharply in December, providing another sign that inflation, while still high, is beginning to ease. The producer price index, which measures final demand prices across hundreds of categories, declined 0.5% for the month, the Labor Department reported Wednesday. Economists surveyed by Dow Jones had been looking for a
AUD/USD extends the previous day’s pullback from five-month high, renews weekly low. Confirmation of bearish chart pattern, sustained break of 50-SMA favor sellers. 200-SMA, monthly support line probe bears even as oscillators suggest further downside. AUD/USD remains on the back foot for the second consecutive day after refreshing the multi-month high, down half a percent
Ripple CEO Brad Garlinghouse expects the firm’s long-running dispute with the Securities Exchange Commission (SEC) will be finalized within “single-digit months” and remains confident in securing a favorable outcome. Speaking to CNBC on Jan. 18 at the World Economic Forum in Davos, Switzerland, Garlinghouse said the verdict could come as soon as June this year