Posts Tagged ‘news’

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Cryptocurrencies Edge Higher After G20 Summit

The results of the G20 summit in Buenos Aires put an upward pressure on cryptocurrencies. On Tuesday, representatives of the world's 20 largest economies met in Argentina to discuss issues related to the international financial system. The officials paid special attention to the cryptocurrency market. The participants of the group of 20 meeting discussed ways to protect investors and introduction of taxes on virtual coins transactions. After the announcement of the summit's results, bitcoin rose to $9,000. According to experts, the cryptocurrency is unlikely to drop […]

Traders Anticipate Fed Rate Hike

The US dollar was extending strength in the Asian trade. The yen was traded in a muted mode because of the national holiday in Japan, Vernal Equinox Day. Besides, the USD/JPY pair was not able to drop below 106.00 as traders are sitting on the sidelines of the policy meeting of the Federal Reserve. Experts say that traders are more interested to find a clue the number of interest rate increases, scheduled for 2018. In case Fed policy makers […]

Daily Forex News and Analysis — March 21st 2018

Wall Street finished higher on Tuesday, as gains in Oil & Gas, Consumer Services, and Industrials led shares higher. The Dow Jones rose by 0.47%, the S&P 500 by 0.15%, and the NASDAQ gained 0.27%. The US dollar traded higher against the other major currencies on Tuesday, amid expectations that the Federal Reserve will announce a rise in the interest rate this week to 1.75%. Gold traded lower, closing at $1,311 an ounce, as the dollar and US […]

ECB Gets Ready to Hike Rate: True or False?

The single European currency is losing its recent gains today. The EUR/USD pair is trading lower. The most traded currency pair retreated from the level of 1.2360 and is heading towards 1.2260. Speculations about a possibility of a sooner than expected rate hike by the European Central Bank provided little help to the euro. Reportedly, the regulator has already started to discuss the prospects for changing the monetary policy stance and tapering the asset purchase […]

UK Inflation Data Discourages Traders

After reaching a month high, the GBP/USD pair gradually corrects. Traders pay attention to important macroeconomic statistics ahead of the FOMC meeting. Today, the United Kingdom published its inflation data. On an annual basis, growth of the consumer price index slowed down to 2.7%. Analysts had expected a 2.8% increase. Monthly, the inflation rate rose by 0.4% in February, after a reduction by 0.5% in the previous month. However, the latest value is below market […]

Daily Forex News and Analysis — March 20th 2018

Wall Street finished lower on Monday. The Dow Jones fell by 1.35%, the NASDAQ by 1.84%, and the S&P 500 lost 1.42% from its value. The US dollar traded lower against the other major currencies on Monday, weighed by a sharp rise in sterling s the UK and EU reportedly reached an agreement on a post-Brexit transition period and the Irish border. Gold traded higher, closing at $1,316 an ounce with expectations that the Federal Reserve will hike […]

Crypto Traders Ignore Negative News

Today, positive sentiment prevails on the cryptocurrency market. Despite the rumors that Twitter plans to ban virtual money advertisement, cryptocurrencies are recouping losses. Today, bitcoin rose by more than 6%, reaching the level of $8,300. Later, it started to correct. Still, experts believe that the cryptocurrency will remain above $8,000. During the weekend, Twitter revealed its new advertising policy, which bans the promotion of virtual money. The company […]

Oil Maintains Bullish Momentum While Ruble Falls

Today, oil prices are consolidating near the peaks that have been recently reached on the back of the oil rig count report. According to Baker Hughes, the number of active drilling facilities in the United States increased by 4 to 800 units for the week ended the 9th of March. It signals that the Crude Oil production may expand. However, the Light Sweet Crude Oil is still trading above $62 per barrel. Market […]

Daily Forex News and Analysis — March 19th 2018

Wall Street finished in the green on Friday, as gains in Oil & Gas, Utilities, and Industrials led shares higher. The Dow Jones was up by 0.29%, the S&P 500 gained 0.17%, and the NASDAQ added 0.04% to its value. The US dollar traded lower against the other major currencies on Friday, after the release of downbeat US housing data, and US political turmoil continued to weigh. The Building Permits data came out at 1.298M vs. […]

Daily Forex News and Analysis — March 18th 2018

The EUR/USD pair fell by 0.12%, closing at $1,2290. The GBP/USD pair increased by 0.04%, closing the week at 1.3942 exchange rate. Gold decreased by 0.42%, as of last week's market close, closing at $1,312.30. Crude Oil rose, by 1.88%, closing at $62.34 a barrel. The value of major cryptocurrencies experienced a fall of over $60 billion on Thursday. Analysts believe that the fall could the effect of the tougher regulations being pushed by the US and the UK. Also, Google, one […]