CoinDesk buys crypto data provider CCData and CryptoCompare
CoinDesk announced its acquisition of CCData and CryptoCompare, two prominent crypto data providers, in a move aimed at strengthening its position in the rapidly growing digital asset market. The deal marks a strategic push by CoinDesk to expand its offerings and provide more comprehensive data solutions to institutional and retail investors alike. This acquisition highlights […]
Indian stocks set for largest monthly foreign outflows in four years
Indian equities are poised to see their biggest foreign capital outflows in four years, as global investors retreat amid concerns over high valuations and increasing global economic uncertainties. The sharp withdrawal of foreign funds has added to market volatility, putting additional strain on India’s stock market. Foreign institutional investors (FIIs) have been offloading Indian stocks […]
UK inflation falls to 1.7%, missing Bank of England’s target for the first time in over three years
The UK’s inflation rate has dropped to 1.7%, falling below the Bank of England’s 2% target for the first time in more than three years. This unexpected decline raises concerns about the central bank’s next steps as it navigates a period of easing price pressures. The drop in inflation was largely driven by lower energy […]
UK inflation set to fall below 2%, increasing chances of BoE rate cut
UK inflation is expected to dip below 2% in September, fueling speculation that the Bank of England (BoE) could be considering another interest-rate cut. With inflation cooling, the central bank may have more flexibility to adjust its monetary policy to address the UK’s sluggish economic growth. As inflation nears the BoE’s target of 2%, the […]
EUR/USD holds below 1.0900 as ECB meeting approaches
The euro (EUR) remains under pressure against the US dollar (USD), with the EUR/USD exchange rate staying below the 1.0900 level. Investors are focusing on the upcoming European Central Bank (ECB) meeting, with many expecting the central bank to adopt a cautious stance, which could lead to further weakness in the euro. As eurozone inflation […]
US seeks five-year sentence for architect of $6 billion crypto theft
The US government is advocating for a five-year prison term for the mastermind behind one of the largest cryptocurrency thefts in history, involving the theft of $6 billion in digital assets. The case has drawn significant attention as it underscores the growing vulnerabilities in the largely unregulated cryptocurrency market. The accused, whose full identity has […]
Chip stocks weigh on Asian markets amid growing concerns over China’s economy
Asian markets declined on Tuesday, led by a sharp drop in chip stocks, as concerns over China’s slowing economy and regulatory pressures heightened investor caution. The sell-off in semiconductor shares reflects broader worries about the region’s economic outlook, especially as China faces weaker growth and persistent challenges in its tech sector. The impact was most […]
PBOC sets USD/CNY reference rate at 7.1191 vs. 7.0830 previous
The People’s Bank of China (PBOC) has set the USD/CNY reference rate at 7.1191, higher than the previous 7.0830, in a move that reflects the central bank’s concerns over the continued weakening of the yuan. This marks another adjustment in a series of interventions as the PBOC seeks to manage the currency’s value amid growing […]
Fed’s Bostic: Confident inflation is returning to 2%
Atlanta Federal Reserve President Raphael Bostic voiced confidence that inflation is on track to return to the central bank’s 2% target, despite recent market concerns. Speaking at an event, Bostic emphasized that while inflation has cooled from its peaks, the Fed remains vigilant in its approach to managing economic growth without triggering further instability. Bostic’s […]