DXY US Dollar Currency Index
Asia-Pacific stocks trade mixed; data shows Japan’s economy shrank less than expected in the first quarter
SINGAPORE — Shares in Asia-Pacific were mixed in Wednesday trade. following overnight comments from U.S. Federal Reserve Chairman Jerome Powell, who said he’s resolved to raise rates until inflation comes down. The Nikkei 225 in Japan rose 0.71% while the Topix index traded 0.78% higher. Japan’s economy shrank 1% on an annualized basis in January-March as compared […]
Read More
Investors withdraw over $7 billion from tether, raising fresh fears about stablecoin’s backing
Tether has faced repeated calls for a full audit of its reserves. Justin Tallis | AFP via Getty Images Investors have withdrawn more than $7 billion from tether since it briefly dropped from its dollar peg, raising fresh questions about the reserves underpinning the world’s largest stablecoin. Tether’s circulating supply has slipped from about $83 […]
Read More
Asia-Pacific stocks mixed; Reserve Bank of Australia meeting minutes ahead
SINGAPORE — Shares in Asia-Pacific were mixed in Tuesday morning trade, with investors looking ahead to the release of meeting minutes from the Reserve Bank of Australia. The Nikkei 225 in Japan slipped 0.13% in early trade while the Topix index hovered above the flatline. South Korea’s Kospi climbed 0.46% while the S&P/ASX 200 in […]
Read More
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 […]
Read More
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 […]
Read More
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 […]
Read More
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 […]
Read More
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 […]
Read More
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 […]
Read More
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. […]
Read More