Stocks fall, yields rise as inflation data comes in hotter than expected
The stock market declined on October 12 as the US BLS released new data showing prices rose faster than expected. Go to Source
USD
Auto Added by WPeMatico
US stocks rise as traders wait for inflation data
All US stock indices rose on October 11, as traders awaited consumer price index data to be released on the 12th. Go to Source
US Stocks rise for third straight day as bond yields fall
Treasury yields declined, giving stock market bulls new momentum. Go to Source
US Stocks Overcome Early Decline Amid Israeli-Gaza Tensions to Close Higher
The Dow and S&P 500 fell early in the day, but rebounded to end the day positive. Go to Source
Binance pushes new stablecoin as it confirms plan to cease BUSD support
Paxos has earlier said it will halt support of Binance’s stablecoin by February 2024, now the exchange has said it will also stop support by that time. Go to Source
Binance.US solves USD withdrawal issues but warns it won’t last long
“While USD withdrawal remains fully operational on the platform today, we expect our banking partners to discontinue that service in the near future,” said Binance.US. Go to Source Powered by WPeMatico
Stablecoin survival: Navigating the future amid global de-dollarization
The stablecoins with the largest market cap are pegged to the U.S. dollar, so what risk does de-dollarization pose to stablecoin users? Go to Source Powered by WPeMatico
US Dollar’s Importance Declining in International Transactions and as Reserve Currency, Economist Says
A Canadian economist and professor at the University of British Columbia says the role of the U.S. dollar in international trade and as a reserve currency has been declining. “Other currencies have been getting more important in international transactions and as reserve currencies,” he stressed. Economist Highlights Rising De-Dollarization Trend Canadian economist James Brander shared … Read more
Zimbabwe sells millions of gold-backed crypto tokens despite IMF warning
The Reserve Bank of Zimbabwe’s first gold-backed cryptocurrency sale has been a success. Go to Source Powered by WPeMatico
Economist Predicts Shift to Tripolar Reserve Currency World — Yuan, Euro to Disrupt US Dollar’s Dominance
Economist Stephen Jen, a former Morgan Stanley managing director, expects a shift “from a unipolar reserve currency world to a multipolar world,” with the Chinese yuan, the euro, and the U.S. dollar forming a “tripolar” reserve currency configuration. ‘A Multipolar World’ Economist Stephen Jen, the CEO of asset management firm Eurizon SLJ, expects multiple currencies … Read more