Crypto Today: Bitcoin retakes $95K, Binance lists ChainGPT, Kenya moves to legalize digital assets
Bitcoin climbed above $95,000 today, marking a significant rebound in the cryptocurrency market. The rally follows recent market dips, fueling optimism among investors. Meanwhile, Binance’s listing of ChainGPT has sparked further interest in blockchain-based AI solutions, drawing attention from retail and institutional traders alike. In a related development, Kenya’s government has moved to legalize digital […]
Australian Dollar struggles near multi-year lows as USD strength dominates
The Australian Dollar continues to face intense pressure, hovering near multi-year lows as the U.S. Dollar maintains its dominance in global markets. A combination of strong U.S. economic data and the Federal Reserve’s hawkish stance on interest rates has fueled demand for the greenback, leaving commodity-linked currencies like the Aussie Dollar struggling. Market analysts attribute […]
Solana Price Forecast: SOL network update signals more downside risks
The Solana (SOL) network faces heightened scrutiny as a recent update has signaled potential downside risks for its price. Market analysts have pointed to the update’s mixed reception, highlighting concerns about its impact on network stability and adoption. SOL, which has been under pressure from broader market volatility, now finds itself in a precarious position […]
Dollar gains extend ahead of US jobs reading
The US dollar extended gains on Friday, with investors positioning ahead of a pivotal US jobs report expected to provide insights into the Federal Reserve’s policy trajectory. The greenback’s rise marked its strongest performance in weeks, buoyed by expectations of robust employment figures that could justify further tightening by the Fed. Currency markets reflected a […]
Ripple’s XRP plunges over 4% following funding rates decline
Ripple’s XRP took a sharp turn downward, shedding over 4% in value amid a significant drop in funding rates across major exchanges. The cryptocurrency, which had shown signs of stability in recent sessions, faced renewed selling pressure as sentiment among leveraged traders soured. Analysts suggest the decline in funding rates indicates a shift in market […]
Gold Steady After Three-Day Gain With US Payrolls in Focus
Gold prices steadied on Friday, holding gains after a three-day rally fueled by softer U.S. economic data. Investors are now closely watching the upcoming US nonfarm payrolls report, which is expected to provide crucial insights into the Federal Reserve’s next policy steps. Spot gold remained near $1,925 per ounce, with markets in a cautious stance […]
Oil Extends Gains as Falling Inventories Outweigh China Concerns
Oil prices extended their rally on Thursday, driven by declining U.S. crude inventories that signaled tightening supply, despite lingering concerns over China’s sluggish economic recovery. West Texas Intermediate (WTI) rose 1.2%, reaching $88.45 a barrel, while Brent crude climbed to $91.15, supported by signs of robust demand in the U.S. and a weaker dollar boosting […]
USD/CAD extends the rally above 1.4400, Canadian/US employment data in focus
The USD/CAD pair extended its rally beyond the 1.4400 mark on Friday, driven by persistent strength in the US dollar and cautious sentiment surrounding upcoming labor market reports. Traders are closely monitoring employment data from both the United States and Canada, which could set the tone for the currency pair’s next move. Market expectations for […]
Asian Stocks Slip with US Jobs Data in Focus: Markets Wrap
Asian stocks retreated as investors braced for the latest U.S. jobs data, a key indicator that could influence the Federal Reserve’s next moves on interest rates. Benchmarks across major markets in Asia showed declines, with technology and export-oriented sectors hit hardest amid rising uncertainty. The cautious sentiment reflected concerns that resilient employment figures might sustain […]
Gold hits four-week high as focus shifts to US Nonfarm Payrolls
Gold prices climbed to a four-week high on Thursday, supported by a weaker dollar and growing anticipation around the U.S. Nonfarm Payrolls report due Friday. Spot gold advanced 0.4% to $1,950.80 per ounce, while U.S. gold futures settled at $1,953.10. The dollar’s retreat has enhanced gold’s appeal as an alternative asset, further buoying investor sentiment. […]