OCBC strategists Sim Moh Siong and Christopher Wong note that USD/CNH has traded higher as Iran-related geopolitical tensions support the Dollar. Beijing has been setting a stronger CNY fix, which has helped stabilise the Renminbi and partially … [Continue reading]
Curve Finance accuses PancakeSwap of copying StableSwap code
Pancakeswap (CAKE) dropped 4% on Friday as Curve Finance (CRV) publicly accused the decentralized exchange (DEX) of copying its code without permission, citing license violation.Curve Finance accuses Pancakeswap of copying codeDecentralized finance … [Continue reading]
United States Consumer Credit Change below expectations ($12B) in January: Actual ($8.05B)
Gold prices staged a turnaround on Friday, reversing the earlier decline and trading just above the $5,170 mark per troy ounce. The yellow metal continues to draw support from safe haven demand linked to tensions in the Middle East, although gains … [Continue reading]
USD/JPY poised to test 158.00 despite weak US jobs data
The USD/JPY rises and challenges the 158.00 figure on Friday up over 0.20% after the latest employment report in the US revealed weakness in the labor market. Also, the Middle East conflict deteriorates market mood, maintaining the US Dollar bid … [Continue reading]
US Nonfarm Payrolls set to show moderate job growth as traders pare Fed rate cut bets
The United States (US) Bureau of Labor Statistics (BLS) will release the Nonfarm Payrolls (NFP) data for February at 13:30 GMT. Volatility around the US Dollar (USD) will likely ramp up on the employment report, with investors looking for fresh … [Continue reading]
Japan’s Katayama: Government ready to act to combat economic impact from Iran conflict
Japan’s Finance Minister Satsuki Katayama said on Friday that compiling extra budget would of course be an option as Prime Minister had said before. Katayama added that the government ready to take steps in timely fashion to combat economic … [Continue reading]
Canadian Dollar advances despite lower Oil prices
USD/CAD struggles after registering modest gains in the previous session, trading around 1.3660 during the Asian hours on Friday. However, the downside of the USD/CAD pair could be restrained as the Canadian Dollar (CAD) could face challenges amid … [Continue reading]
USD/MXN jumps above 17.70 as Middle East war spurs risk-off
The Mexican Peso (MXN) depreciates sharply on Thursday as hostilities intensify in the Middle East, triggering a flight to safety, which underpinned the US Dollar (USD). Additionally, solid jobs data in the US decreased the chances that the Federal … [Continue reading]
Dow Jones Industrial Average tumbles as Iran situation broils
The Dow Jones Industrial Average was down 840 points, or 1.73%, to 47,885 at the time of writing, giving back all of Wednesday's gains and then some. The S&P 500 fell 0.82% to around 6,810, while the Nasdaq Composite dipped 0.50% to the 22,690 … [Continue reading]
United States Challenger Job Cuts fell from previous 108.435K to 48.307K in February
Gold price extends its gains for the second successive session on Thursday as traders seek safety amid the ongoing war in the Middle East. US and Israeli strikes across Iranian territory and widespread Iranian missile and drone retaliation across the … [Continue reading]