DXY US Dollar Currency Index
Lebanon voters deal blow to Hezbollah allies in first election since economic meltdown
Lebanon, a nation of nearly 7 million, is home to 18 different religious communities. Ibrahim Chalhoub | Afp | Getty Images Lebanon has voted in the country’s first parliamentary elections since its economic meltdown in 2019 and the Beirut port blast the following year. Dealing a major blow to the Iranian-backed Hezbollah, preliminary results from […]
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Most Asia markets give up gains, China stocks fall after economic numbers disappoint
SINGAPORE — Shares in the Asia-Pacific gave up early gains on Monday, after China reported disappointing economic numbers as a result of Covid restrictions. Tech stocks in Hong Kong surged in before paring some gains following bad news from China on the economic front. The Hang Seng Tech index was up more than 2% at […]
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Strategist says stock market may become a ‘meat-grinder of forlorn hope’ for dip-buyers
LONDON – Investors looking for value in the stock market during the ongoing downturn may be “deluding themselves,” according to Sean Corrigan, director at Cantillon Consulting. Fears that central banks will have to hike interest rates aggressively to curb inflation — at the risk of quashing growth as the global economy suffers concurrent hits from […]
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Regulators are growing anxious about stablecoins after Terra’s stunning collapse
The entire stablecoin market is now worth more than $160 billion. Justin Tallis | AFP via Getty Images Regulators are getting increasingly worried about stablecoins after the collapse of controversial cryptocurrency venture Terra. TerraUSD, an “algorithmic” stablecoin that’s meant to be pegged one-to-one with the U.S. dollar, has erased much of its value this week […]
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World’s biggest stablecoin regains dollar peg after $3 billion in withdrawals
Tether has long faced questions over whether it has enough assets to justify its peg to the dollar. Tiffany Hagler | Bloomberg via Getty Images Tether, the world’s largest stablecoin, regained its peg to the dollar after more than $3 billion worth of tokens left the system in a single day. The cryptocurrency — which […]
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Asia-Pacific stocks set for lower start as Fed’s Powell warns he can’t guarantee ‘soft landing’
SINGAPORE — Shares in Asia-Pacific looked set for a lower start on Friday, as investors continue to remain cautious over inflation and the global economic outlook. The Nikkei futures contract in Osaka sat at 25,700, as compared against the Nikkei 225’s last close at 25,748.72. Australian stocks also appeared poised for a lower start, with […]
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Cryptocurrency luna now almost worthless after controversial stablecoin it is linked to loses peg
Luna, the sister cryptocurrency of controversial stablecoin TerraUSD, has almost dropped to $0. The cryptocurrency markets have seen a steep sell-off over the last week after the TerraUSD stablecoin lost its $1 peg. Dan Kitwood | Getty Images News | Getty Images Luna, the sister cryptocurrency of controversial stablecoin TerraUSD, has collapsed to nearly $0. […]
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The world’s biggest stablecoin has dropped below its $1 peg
Crypto firm Tether has been reducing the amount of commercial paper in its reserves. Jakub Porzycki | Nurphoto | Getty Images Tether, the world’s largest stablecoin, broke below its $1 peg Thursday amid panic in the crypto market. The token sank to as low as 98 cents at around 3:30 a.m. ET, according to data […]
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Asia-Pacific markets slip after data shows U.S. inflation near 40-year highs in April
Stock picks and investing trends from CNBC Pro: The U.S. consumer price index surged 8.3% in April as compared with a year ago — near the highest level in more than 40 years, official data showed Wednesday, . The April reading, which represented a slight ease from March’s peak, was also above the Dow Jones […]
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Asia-Pacific stocks set for opening declines following Wall Street tumble
SINGAPORE — Shares in Asia-Pacific looked set for a lower start on Tuesday following big losses overnight on Wall Street that saw the tech-heavy Nasdaq Composite dropping more than 4%. Futures pointed to a lower open for Japanese stocks. The Nikkei futures contract in Chicago was at 26,060 while its counterpart in Osaka was at […]
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