RBNZ’s Silk: Remains confident inflation will converge with 2% target
Reserve Bank of New Zealand’s (RBNZ) Assistant Governor Karen Silk expressed confidence that inflation will eventually converge with the central bank’s 2% target, despite the current elevated levels. Speaking at a recent event, Silk reassured that the RBNZ’s current policy settings are geared toward achieving this goal, though she acknowledged the challenges posed by both […]
XRP climbs above $0.54 as Ripple announces exchange partners for Ripple USD stablecoin
XRP climbed above $0.54 on Wednesday after Ripple announced a series of new exchange partnerships aimed at bolstering the adoption of its recently launched Ripple USD stablecoin. The price of the cryptocurrency saw a swift increase following the news, as the market reacted positively to Ripple’s efforts to expand its ecosystem and strengthen its position […]
Gold trends upward amid falling US yields, US data eyed
Gold prices rose on Wednesday as U.S. Treasury yields continued to fall, providing support for the precious metal, which tends to benefit from lower yields. The decline in yields has made non-yielding assets like gold more attractive to investors seeking safe havens amid economic uncertainty. The drop in U.S. yields comes as investors await key […]
Tesla fuels bitcoin speculation after shifting $760 million in BTC to anonymous wallets
Tesla, the electric vehicle giant led by Elon Musk, has sparked renewed speculation about its Bitcoin strategy after transferring approximately $760 million worth of Bitcoin to unknown digital wallets. On-chain data from Arkham Intelligence revealed this move, raising concerns over whether Tesla is preparing to sell off its remaining cryptocurrency assets. The transfer, involving 11,500 […]
Can bitcoin overtake the US dollar as the world’s reserve currency?
With Bitcoin’s rising popularity, speculation has emerged around whether it could one day replace the US dollar as the world’s reserve currency. Although this notion seems forward-looking, there are significant obstacles that would need to be addressed for such a dramatic shift to take place. Currently, the US dollar dominates global trade and serves as […]
UK gilt market holds steady as investors anticipate prudent budget from chancellor Reeves
Despite rising borrowing costs ahead of the UK’s budget announcement on October 30th, bond investors remain confident that Chancellor Rachel Reeves will prioritize fiscal responsibility. This confidence has kept the gilt market stable, avoiding major sell-offs in government bonds. Reeves, who has ruled out significant tax increases, is expected to present a budget that focuses […]
Crypto Today: Bitcoin loses slightly, Ethereum and XRP dip as Ripple Swell event goes live on Tuesday
Major cryptocurrencies dipped on Tuesday, with Bitcoin losing ground and Ethereum and XRP also experiencing minor declines as Ripple’s highly anticipated Swell event began. The market saw muted movements, with Bitcoin slipping just below key levels, while Ethereum and XRP both edged lower, reflecting broader cautious sentiment among crypto traders. Bitcoin’s price, which has been […]
Solana Price Forecast: SOL risks 12% drop as bankrupt FTX exchange offloads holdings
Solana (SOL) is at risk of a significant 12% price drop as the bankrupt crypto exchange FTX prepares to offload its remaining SOL holdings. The liquidation, part of FTX’s ongoing bankruptcy proceedings, could put downward pressure on Solana’s price, with the potential to increase supply in the market and trigger selling activity. FTX, which once […]
Bitcoin Price Forecast: BTC breaks above $67,000
Bitcoin broke above $67,000 on Wednesday, fueled by renewed bullish momentum as traders and investors returned to the market with optimism. The recent surge marks a key psychological milestone for the world’s largest cryptocurrency, which has been rallying in response to improving market sentiment and increased institutional interest. The upward movement comes amid a broader […]
Crude Oil sees second day of losses after IEA and OPEC point to oversupply
Crude oil prices declined for a second consecutive day on Wednesday, pressured by concerns of oversupply after both the International Energy Agency (IEA) and OPEC flagged potential imbalances in the global oil market. The warnings from these key energy organizations have triggered a selloff, as traders anticipate a growing supply glut. The IEA’s latest report […]