Author: FX
© Reuters. FILE PHOTO: A representation of cryptocurrency Tether is placed on a PC motherboard, in this illustration taken June 16, 2023. REUTERS/Dado Ruvic/Illustration/File Photo (Reuters) -The number of dollar-pegged stablecoins issued by has crossed $100 billion, the crypto company said on its website on Monday. Tether issues a stablecoin which is designed to maintain a constant value of $1. It is widely used as a way of moving money in cryptocurrency without being exposed to price swings in other cryptocurrencies such as bitcoin and ether. The company says it maintains its dollar peg by holding dollar-based reserves which match…
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vchal/iStock via Getty Images The head of the International Atomic Energy Agency called on global development banks and their government shareholders to fund new nuclear projects, warning that failing to do so could delay the energy transition, Financial Times reported Monday. Rafael Grossi said a lack of funding for emissions-free nuclear energy by multilateral lenders such as the World Bank and Asian Development Bank was “out of step” with the wishes of most of their shareholders, pointing to a “sea change” in attitudes to nuclear power due to the climate crisis and the Russia-Ukraine war. International finance institutions are “out…
Share: The headline Tokyo Consumer Price Index (CPI) for February rose 2.6% YoY from 1.8% in the previous reading, the Statistics Bureau of Japan showed on Tuesday. Meanwhile, the Tokyo CPI ex Fresh Food, Energy eased to 3.1% YoY from 3.3% in January.Additionally, Tokyo CPI ex Fresh Food climbed to 2.5% for the said month, in line with the market expectation. Market reaction As of writing, the USD/JPY pair was down 0.06% on the day at 150.43. About Tokyo Consumer Price Index (CPI) The Tokyo Consumer Price Index is released by the Statistics Bureau and it’s a measure of price movements obtained by comparison of the retail prices of…
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© Reuters. On Monday, Piper Sandler adjusted its outlook on Cracker Barrel (NASDAQ:) Old Country Store, Inc. (NASDAQ:CBRL) by reducing the stock price target from $75.00 to $70.00 while keeping a Neutral rating on the stock. This decision comes in the wake of Cracker Barrel’s recent Fiscal 2Q24 earnings report and subsequent earnings call, which revealed ongoing business challenges. Cracker Barrel’s latest quarterly results indicated a decline in customer visits, with a 4% drop in restaurant traffic and a 5.3% decrease in same-store sales (SSS) within its retail segment. These figures have prompted the company to revise its full-year Fiscal…
The Land Down Under is about to print its economic report card for the last quarter of 2023! Did it chalk up a stellar performance enough to keep the RBA hakwish? Or were there weak spots that might lead to a shift in stance? Here’s what you need to know about the upcoming release and how it may impact the Australian dollar! This Article Is For Premium Members Only Become a Premium member for full website access, plus get: Ad-free experience Daily actionable short-term strategies High-impact economic event trading guides Access to exclusive MarketMilk™ sections Plus More! Source…
Crude oilThe price of crude oil has moved to new lows and in the process fell below its 100-hour moving average at $78.86 on its way to a low of $78.56. At session lows, the price tested the low of a swing area between $78.52 and $79.29. Support buyers came in against the level and have pushed the price back up. The current price trades at $78.68 between the 100-hour moving average and the low of the swing area (see the low of the yellow area with the red number circles). What now?On the topside, the 100-hour moving average $78.86…
Nasdaq 100 (US Tech) AnalysisHistorically, March presents a tricky month for the Nasdaq in an election year but tends to witness impressive full year gainsNasdaq posts a slow start to the week ahead of economic dataMajor risk events in the week that lies ahead: services PMI, Fed talk and NFPThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive education libraryMarch Madness: Nasdaq Tends to Underperform in March During Election YearsWith the presidential race well under way, it may be useful to see how the tech-heavy Nasdaq has…
Share: Canadian Dollar finds the middle as investor appetite churns. Bank of Canada rate call slated for the midweek. US NFP expectations to draw attention through the week. The Canadian Dollar (CAD) is cycling familiar levels on Monday with markets awaiting another rate showing from the Bank of Canada (BoC) and this week’s key US Nonfarm Payrolls (NFP) report due on Friday. The BoC is expected to hold rates at 5% on Wednesday, and investors hopeful for a rate cut from the Federal Reserve (Fed) will be looking for softening economic figures from the US this week. The…