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The British Pound Suffers Worst Month for a Year

The British Pound Suffers Worst Month for a Year

FOREX news
6 months ago

The British pound suffered its worst month against the U.S. dollar for a year in September, with analysts painting a gloomy future picture, as growth expectations weaken once again.The Sterling fell 3.75% against the dollar through the month, a decli...

Bitcoin Climbs to Highest Level Since Mid-August

Bitcoin Climbs to Highest Level Since Mid-August

Commodities news
6 months ago

Bitcoin rose above $28,000 on Monday. The catalyst for the rise was not immediately clear. In other positive news for the crypto industry, several ether futures’ ETFs are set to launch on Monday. Crypto market watchers have been waiting to see whethe...

German Inflation At Lowest Since Start Of Ukraine War

German Inflation At Lowest Since Start Of Ukraine War

Economy news
6 months ago

German inflation experienced a decline this month, reaching its lowest point since the onset of the Ukraine conflict. This provides a slight ray of optimism while Europe's leading economy battles to recover from a downturn.Russia's invasion of Ukrain...

Kraken Making Moves After Securing EU E-Money License

Kraken Making Moves After Securing EU E-Money License

Kraken, the U.S.–based cryptocurrency exchange hasrecently secured an EU e-money license. The company has ambitious moves for further expansion and is also reportedly planning to offer trading of U.S. listed stocks.The cryptocurrency business is plan...

Evergrande Stock Tumbles as Fears of Collapse Grow

Evergrande Stock Tumbles as Fears of Collapse Grow

Stocks news
6 months ago

Shares of China’s Evergrande Group crashed again on Wednesday as fears grew of a potential liquidation of the company.The troubled developer’s stock closed down 19% at 4 US cents, putting its market cap at just $539 million. The collapse took this we...

Soft Commodity Prices in Weather-Related Surge

Soft Commodity Prices in Weather-Related Surge

Economy news
6 months ago

A host of soft commodity prices have climbed in recent months, driven by weather-related damage and rising climate risks around the globe, resulting in tighter supplies. Futures contracts on orange juice, raw sugar, and cocoa each hit their high...

Major Crypto Exchange Bybit Suspends U.K. Operation

Major Crypto Exchange Bybit Suspends U.K. Operation

Renowned cryptocurrency derivatives exchange Bybithas announced that it is suspending services in the U.K. ahead of the introduction of the new rules by the Financial Conduct Authority (FCA), the financial regulatory body in the country.The Dubai-hea...

Markets Mostly Rise as Traders Try to Look Beyond Rate Hikes

Markets Mostly Rise as Traders Try to Look Beyond Rate Hikes

Economy news
6 months ago

Most stock markets rose Friday, reversing early losses and a sell-off on Wall Street, as traders consider further interest rate hikes by central banks struggling to tame inflation.With officials from the United States to Switzerland warning that more...

Turkish Lira Falls against Dollar after Steep Interest Rate Hike

Turkish Lira Falls against Dollar after Steep Interest Rate Hike

FOREX news
6 months ago

The Turkish lira weakened to 27.06 against the dollar, ceding 0.3%, after Turkey’s central bank hiked its key interest rate to 30% on Thursday, a 500-basis point jump from 25%, as Ankara continues to battle double-digit inflation.The central bank dec...

UK Inflation in Surprise Drop to 18-Month Low

UK Inflation in Surprise Drop to 18-Month Low

Economy news
6 months ago

British inflation unexpectedly slowed in August, data showed Wednesday, hitting an 18-month low and sparking hope this week's widely-forecast interest rate hike by the Bank of England (BOE) could be its last for now.The Consumer Prices Index dropped...

OECD Predicts Weak Global Growth as High Rates Bite

OECD Predicts Weak Global Growth as High Rates Bite

Economy news
6 months ago

The Organization for Economic Co-operation and Development (OECD) raised its global economic outlook for 2023 on Tuesday but cut the growth forecast for next year as interest-rate hikes aimed at curbing inflation take their toll.The world economy is...

Hong Kong Cracks Down on Crypto Firms Claiming to Be Banks

Hong Kong Cracks Down on Crypto Firms Claiming to Be Banks

Commodities news
6 months ago

Hong Kong's central bank has warned investors to be alert of crypto businesses that call themselves "banks," saying such companies are violating the region's banking laws. The financial watchdog said only licensed institutions are permitted to carry...

European Central Bank Raises Record Rates but Says No More

European Central Bank Raises Record Rates but Says No More

Economy news
7 months ago

The European Central Bank (ECB) raised interest rates by a quarter of a percentage point to 4% Thursday and hinted it was done with its protracted campaign of rate hikes to tame stubborn inflation.The ECB has hiked its primary interest rate for the 1...

Argentina Monthly Inflation Highest in Two Decades

Argentina Monthly Inflation Highest in Two Decades

FOREX news
7 months ago

Argentina's inflation surged to 12.4% in August — marking the most drastic monthly surge the nation has seen in over 20 years. This concerning figure was disclosed by the country's official statistics agency this Wednesday.For a nation grappling with...

Oil Prices Climb to 10-month High after Libya Floods

Oil Prices Climb to 10-month High after Libya Floods

Economy news
7 months ago

Oil prices hit over $92 a barrel on Tuesday, marking the first time in almost 10 months, as concerns grew over potential supply issues due to severe flooding in Libya.Brent crude, a global measure, rose about 2%, reaching $92.38 a barrel – the steepe...

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