Lawyer and cryptocurrency supporter John Deaton has criticized the Lightning Network, deeming it less effective than the “Spend The Bits” protocol on the XRP Ledger (XRPL). Lightning is a layer-2 scaling solution for Bitcoin. It is designed to improve the scalability and efficiency of Bitcoin (BTC) transactions by enabling off-chain, peer-to-peer transactions. In an Oct.
Month: October 2023
As geopolitical tensions rise, the financial markets are inundated with heightened volatility and uncertainty. The bond market is particularly sensitive, evidenced by the 10-year Treasury yield soaring to 5% for the first time since 2007. This spike is multifaceted, driven in large part by a ballooning bond supply and the persistent geopolitical crises. Amidst these
Janet Yellen, U.S. Secretary of the Treasury, participates in a global infrastructure and investment forum in New York on Sept. 21, 2023. Pool | Via Reuters The federal government wound up its fiscal year in September with a deficit just shy of $1.7 trillion, the U.S. Department of the Treasury announced Friday. Wrapping up a
In this article AAL Follow your favorite stocksCREATE FREE ACCOUNT American Airlines posted a third-quarter loss on Thursday and trimmed its profit forecast for the year, partly in response to higher fuel prices. The carrier said Thursday it expects to earn between $2.25 and $2.50 a share, on an adjusted basis, for the year, down
Share: The US Dollar struggles to find demand at the end of the week. Markets are digesting Powell’s words on Thursday. US Treasury yields are retreating and the odds of a hike in December declined. The US Dollar (USD) measured by the US Dollar Index (DXY) oscillates between gains and losses in the 106.15 area,
NASDAQ index tests a key cluster of support The NASDAQ index is the worst performer of the major indices with a decline of now over 1%. The move to the downside has now taken the price to a key support area. That support area is defined by the: 100 hour moving average at 13379.32 (see
The surging yields continue to pressure markets. The 2-year yield is trading at 5.223%. That’s the high yield since June 2006 when the yield peaked at 5.283% The 10-year yield is trading at 4.911% 6.4 basis points. That is the highest level since July 2007. The high yield in 2007 reached 5.289% The 30-year yield
MCX gold futures hit three-month high levels while silver futures sclaed three-week peak as more bad news trickles out of the Middle East, making investors scurry for bullion. Taking cues from the international prices, the MCX December gold futures opened in the green on Wednesday and traded at Rs 59,811 per 10 gram, up by
The tumultuous environment resulting from the Middle East tensions has prompted a noticeable upswing in Gold and Oil prices today, yet the forex markets remain relatively unaffected. Swiss Franc is currently leading the pack, its ascent likely attributed to the ongoing geopolitical unrest, though its rise is modest. US President Joe Biden’s diplomatic mission to
A board displays the exchange rates for Mexican Peso and U.S. Dollar in Mexico City, Mexico March 13, 2023. Raquel Cunha | Reuters People sending money back to Mexico this year have faced a new challenge: the “super peso.” The Mexican currency reached the strongest levels against the U.S. dollar in almost eight years over
In this article MS GSBD Follow your favorite stocksCREATE FREE ACCOUNT Morgan Stanley CEO James Gorman attends the Reuters NEXT Newsmaker event in New York, December 1, 2022. Brendan McDermid | Reuters Morgan Stanley posted third-quarter results Wednesday that topped profit estimates on better-than-expected trading revenue. Here’s what the company reported: Earnings per share: $1.38,
Share: The CAD dumped – but only briefly – before returning to the low 1.36s where it was before Tuesday’s data reports. Shaun Osborne, Chief FX Strategist at Scotiabank, analyzes Loonie’s outlook. The data mix could not have been worse for the CAD The data mix could not have been worse for the CAD on
Crude oil prices surge today The price of WTI crude oil is extending above the $87 level to a high of $87.37. Oil prices have surged today following the U.S.’s enhancement of sanctions against Russian crude exports, amplifying supply anxieties in an already constrained market. The U.S. targeted tankers carrying Russian oil priced above the
Sat: New Zealand General Election Mon: New Zealand CPI (Q3), PBoC MLF Tue: RBA Minutes, German ZEW Survey (Oct), US Retail Sales (Sep), Canadian CPI (Sep) Wed: Chinese GDP (Q3), Chinese Industrial Output (Sep) and Retail Sales (Sep), UK Inflation (Sep), EZ Final HICP (Sep) Thu: BoK Announcement, Bank of Indonesia Announcement, Japanese Trade Balance
Gold prices have seen a notable weekly gain of more than 3%, marking their first increase in four weeks. This surge is primarily attributed to ongoing geopolitical tensions, notably the recent conflict between Israel and Hamas. The surprise attack by Hamas on Israel has escalated the situation, leading Israel to declare war. The United States
Ferrari will accept cryptocurrency payments for its luxury sports cars in the United States due to customer demand. The carmaker also plans to accept crypto payments in Europe. According to an Oct. 14 report from Reuters, Ferrari’s chief marketing and commercial officer, Enrico Galliera, confirmed the intentions of the luxury car brand. Ferrari’s choice to
The abrupt escalation in conflicts in the Middle East significantly influenced the global financial markets last week, causing capital influx into safe-haven assets. Amidst the military confrontations, Gold and other precious metals experienced a sharp surge in value. Oil prices also saw a rebound, reflecting the geopolitical tensions. While Treasury bonds reaped some advantages, equity
Patrick Harker President Federal Reserve Bank of Philadelphia, August 24, 2023. David A. Grogan | CNBC Philadelphia Federal Reserve President Patrick Harker said Friday he thinks the central bank can stop raising interest rates. “Absent a stark turn in what I see in the data and hear from contacts … I believe that we are