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Omicron Puts the Skids on the Global Economy

Omicron Puts the Skids on the Global Economy

Stocks news
2 years ago

Fears over the growing threat of the COVID-19 Omicron variant have started to creep into stock market performances around the world. After Monday’s trading, the Dow Jones fell by 1.2%, continuing a downward trend that saw it lose 1.5% last w...

Japan Resists Tackling Inflation

Japan Resists Tackling Inflation

Economy news
2 years ago

Bank of Japan Governor Haruhiko Kuroda announced this week that it was too early for the country to start changing its monetary policy to tackle inflation. The world’s third largest economy is set to lag behind other industrialized nations w...

Tech Stocks Suffer Big Sell-Off

Tech Stocks Suffer Big Sell-Off

Stocks news
2 years ago

Technology stocks in the US plummeted with news of tighter monetary policies coming into play soon. After the US Fed signaled the likelihood of three interest rate hikes next year, the Bank of England became the latest major central bank to announce...

US Fed Signals Three Interest Rate Hikes In 2022

US Fed Signals Three Interest Rate Hikes In 2022

Economy news
2 years ago

Officials at the US Federal Reserve have announced a plan to increase the benchmark interest rate to 0.9% in 2022, up from the 0.3% indication from September’s meeting. Analysts say this equates to three rate hikes next year.  In the sa...

US Fed Expected To Tackle Inflation

US Fed Expected To Tackle Inflation

Economy news
2 years ago

Faced with no other choice, the US Federal Reserve is expected to implement stronger measures to tackle inflation.  New Fed Chair, Jerome Powell, takes his seat with high inflation affecting the US economy. Consumer prices in the world’...

Asian Stocks Dip on Omicron Fears

Asian Stocks Dip on Omicron Fears

Stocks news
2 years ago

Asian stocks limped along in weak trading, fueled by fears over the Omicron variant. Meanwhile edgy investors, expecting a raft of central bank decisions this week, held back on trading. Hong Kong's Hang Seng Index slid by 1%, South Korea'...

Binance Gives Up On Setting Up In Singapore

Binance Gives Up On Setting Up In Singapore

Binance, the world’s largest cryptocurrency exchange, has ended its year-long attempt to set up a bourse in Singapore.  The Singapore arm of Binance, set up as a fiat-to-crypto trading platform, will wind down operations and close by Fe...

Stablecoins Face Up To Scrutiny from US Congress

Stablecoins Face Up To Scrutiny from US Congress

The CEOs of six major cryptocurrency companies appeared at a hearing before the House Financial Services Committee in the US Congress this week.  Crypto chiefs from FTX, Bitfury, Coinbase and others gave testimony to members of Congress durin...

Currencies Stay Soft On Omicron Fears

Currencies Stay Soft On Omicron Fears

FOREX news
2 years ago

Key currencies continued to trade cautiously as markets tried to figure out how the Omicron COVID variant would affect monetary policy.  The Australian dollar was steady at $0.7171, having made gains this week as investors looked towards risk...

US Oil and Natural Gas Prices Finally Come Down

US Oil and Natural Gas Prices Finally Come Down

Commodities news
2 years ago

US consumers struggling under the twin challenges of high inflation and elevated consumer prices are finally seeing some relief as the price of oil and natural gas comes down. The US national average price for a gallon of gas toppled to $3.35, a p...

Bitmart Crypto Exchange Loses $150m to Hackers

Bitmart Crypto Exchange Loses $150m to Hackers

Cayman Islands headquartered crypto exchange Bitmart confirmed overnight that hackers stole at least $150 million from its platform. In a memo to customers, the crypto exchange said that assets were taken from two “hot wallets,” one ho...

Bitcoin Price Plunges after Big Weekend Selloff

Bitcoin Price Plunges after Big Weekend Selloff

Bitcoin plummeted to a low of about $43,000 over the weekend. As recently as October, the world’s biggest cryptocurrency was trading at almost $69,000, with some analysts hoping it could breach $100,000 in the near future. This weekend&rsquo...

Global Computer Chip Shortage Hurting Consumer Goods Supply

Global Computer Chip Shortage Hurting Consumer Goods Supply

FOREX news
2 years ago

The ongoing worldwide shortage of computer chips is slowing the supply of everything from new coffee machines to electric cars. Driven by COVID-related supply chain issues in Asia, computer chips are in short supply. This has heavily impacted the...

OPEC Grows In Power Before Oil Cuts Hit

OPEC Grows In Power Before Oil Cuts Hit

Commodities news
2 years ago

The Organization of the Petroleum Exporting Countries (OPEC) is expected to conduct its annual strategy meeting this week confident in its increasing short-term influence.  As recently as 2019, the US became a net exporter of energy for the f...

Currencies Rebound After Omicron Fears

Currencies Rebound After Omicron Fears

FOREX news
2 years ago

Investors breathed a sigh of relief after news emerged that the Omicron variant is not as dangerous as first feared.  The US Dollar climbed to 113.89 against the Japanese Yen after Monday's two week low of 112.97. The Dollar Index, which...

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