PBOC sets USD/CNY reference rate at 7.1894 vs. 7.1982 previous
The People’s Bank of China (PBOC) set the USD/CNY reference rate at 7.1894, a marginal improvement compared to the previous rate of 7.1982, signaling its ongoing effort to stabilize the yuan. This adjustment comes amid heightened global focus on China’s economic recovery and its potential impact on global trade flows. Analysts view this move as […]
Ripple witnessed high whale buying pressure amid Bitwise rebrand of its XRP ETP
Ripple’s XRP has drawn significant attention from large investors, with recent data revealing increased whale activity. The heightened interest coincides with Bitwise Asset Management’s decision to rebrand its XRP Exchange-Traded Product (ETP), a move aimed at bolstering investor confidence and expanding market appeal. Whale wallets, holding substantial XRP amounts, have shown a marked uptick in […]
Oil Little Changed in Thin Trading Ahead of Key OPEC+ Meeting
Oil prices remained relatively flat in light trading as markets await clarity from the upcoming OPEC+ meeting. Brent crude hovered near $81 per barrel, while U.S. West Texas Intermediate (WTI) held around $76. Limited trading volumes ahead of the meeting contributed to the subdued market activity, with participants largely refraining from significant moves. The OPEC+ […]
Donald Trump says Mexico’s President agreed to stop migration
Former President Donald Trump announced that Mexico’s President has agreed to take decisive action to halt migration flows into the U.S. Trump, in a statement, attributed the agreement to his influence, although details of the arrangement remain unclear. The claim comes as migration continues to be a central issue in U.S. politics, with escalating debates […]
WTI steadies above $68.50 amid large surprise crude draw
West Texas Intermediate (WTI) crude prices maintained levels above $68.50, bolstered by a surprisingly large draw in U.S. crude oil inventories. The unexpected reduction in stockpiles reflects tightening supply conditions, catching market analysts off guard amid forecasts of smaller declines. The Energy Information Administration’s report revealed a substantial draw of 5.6 million barrels in U.S. […]
US expected to unveil further AI chip sanctions against China on Monday
The United States is poised to impose stricter export controls on advanced AI chips to China, a move expected to be announced on Monday. These restrictions aim to curb Beijing’s access to cutting-edge technology with potential military applications. Industry insiders suggest the measures will impact leading US chipmakers, limiting their ability to supply products tailored […]
EUR/USD gains ground, but recovery remains limited
The EUR/USD pair edged higher, driven by a softer U.S. dollar as traders anticipate the Federal Reserve maintaining its current interest rate stance. Optimism surrounding potential Eurozone economic stability also supported the euro, though gains remain modest as broader market sentiment shows signs of caution. Despite the upward movement, the rally faces resistance amid lingering […]
Gold Pares Gains as Inflation Affirms Fed’s Cautious Easing Path
Gold prices trimmed earlier gains as inflation data reinforced expectations that the Federal Reserve will maintain a cautious approach to monetary easing. After climbing in early trading, gold futures settled at $1,980 an ounce, reflecting a tepid response to consumer price index data that showed a slight moderation in inflation but still above the Fed’s […]
Top 3 meme coins: Dogecoin, PEPE, BONK lead meme rally amid growing disapproval from industry leaders
The meme coin market is experiencing a resurgence, with Dogecoin, PEPE, and BONK driving a significant rally. These tokens, often viewed as speculative assets, have captured investor attention with recent price spikes. While enthusiasm grows among retail traders, industry leaders are voicing concerns about the sustainability and impact of such trends. Despite the lack of […]
GBP/USD recovers ground as markets tilt into risk-on sentiment
The GBP/USD pair has reversed earlier losses, rising as investor sentiment improves across global markets. The pound’s recovery comes amid a risk-on shift fueled by easing geopolitical tensions and speculation about the Federal Reserve’s future policy direction. Markets have largely shrugged off recent concerns over economic growth, focusing instead on positive signals from equities and […]