Nasdaq filed with the SEC for a new exchange-traded product that would combine both spot and futures ETH contracts. Nasdaq has filed an application with the US Securities and Exchange Commission (SEC) to list an exchange-traded fund by Hashdex that will track the price performance of Ethereum (ETH) using the Nasdaq EthereumReference Price, as per a regulatory filing. According to the 19b-4 form, the Hashdex Nasdaq Ethereum ETF from Brazilian asset management firm Hashdex would be managed and controlled by Toroso Investments, an investment advisory firm based in New York. The document describes that “under normal market conditions,” the ETF…
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The U.S. dollar edged higher in early European trade Tuesday, reversing some of the previous session’s sharp losses as traders revised their positions before data showing a potential rise in U.S. inflation. At 03:10 ET (07:10 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% higher to 104.332, after falling 0.5% in the prior session, retreating from last week’s six-month high of 105.15. U.S. inflation release the main focusThe focus of the foreign exchange market this week is squarely on U.S. consumer inflation data due on Wednesday, which is expected to set…
Gold prices moved little on Tuesday as the dollar arrested recent losses before key U.S. inflation data due later this week, while copper prices held on to recent gains on hopes that the worst had passed for China’s economy. Bullion prices found some relief in recent sessions as the dollar retreated from a near six-month peak on some profit taking. But the greenback steadied in Asian trade on Tuesday, remaining within sight of recent highs. The outlook for U.S. inflation and interest rates remained high, pointing to more pressure on gold prices in the coming months. This trade had also…
The Bitcoin (BTC) price is expected to squeeze if the August Consumer Price Index (CPI) rises further and the collapsed crypto firm FTX gets approval for liquidation. According to the market analyst with the X (formerly Twitter) handle CrypNuevo, the U.S. CPI, scheduled for Sept. 13, might see an upsurge from 3.2% to around 3.6%. This could trigger FUD (fear, uncertainty, and doubt) among investors, which might ultimately initiate a selling pressure. Moreover, another bearish expectation comes from the possibility of FTX’s liquidation. The bankrupt crypto platform reportedly has roughly $7 billion in physical and digital assets. Per CrypNuevo, there…
Most Asian currencies moved little on Tuesday, while the dollar steadied close to a six-month peak as investors hunkered down before data showing a potential rise in U.S. inflation. Markets were also holding out for more economic cues from China, as recent data showed some improvement in inflation and loan activity through August. But the overall outlook for the Chinese economy still deteriorated, with a Reuters poll now forecasting 2023 GDP growth of 5%- in line with China’s official forecast, but lower than forecasts from investment banks. The yuan remained resilient through this, with the Chinese currency rebounding from a…
European shares sank to their lowest in over a month on Friday, on track to post weekly losses, as concerns around interest rates across the world remaining higher for longer and dwindling growth prospects in China hammered risk sentiment. The pan-European STOXX 600 eased 0.9%, poised for its fourth consecutive day of losses. Surging bond yields have pressured equities this week, with the STOXX 600 headed for a weekly fall of over 2%, touching its lowest weekly level in a month. “Longer end bond yields have started to rise again because … hopes of rate cuts from next year onward…
European stock markets traded lower Friday, ending the week on a somber note as investors digested falling U.K. retail sales ahead of the release of eurozone inflation data. At 03:40 ET (07:40 GMT), the DAX index in Germany traded 1% lower, the CAC 40 in France dropped 1.2%, while the FTSE 100 in the U.K. traded 0.9% lower. The major European indices are on course for losses of between over 2% this week, largely on worries surrounding China’s economic slowdown and the potential for higher interest rates from the Federal Reserve. U.K. retail sales slump in JulyHowever, the wider European…
The U.S. dollar slipped lower in early European trade Friday, retreating from two-month highs but is still on course for a fifth consecutive winning week as a resilient U.S. economy suggested higher rates for longer. At 03:20 ET (07:20 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.2% lower at 103.290, after touching a two-month high at 103.59 overnight. Dollar heads for another weekly gainThe dollar has seen some profit-taking early Friday, with risk sentiment boosted after the People’s Bank of China said it will continue to release more liquidity in an…
Bitcoin dropped 7.2% to $26,634 at 21:45 GMT on Thursday, losing $2,067 from its previous close. Bitcoin, the world’s biggest and best-known cryptocurrency, is down 16.3% from the year’s high of $31,818 on July 13. Ether, the coin linked to the Ethereum blockchain network, dropped 11.29% to $1,547.4 on Thursday, losing $203.8 from its previous close. Souce Courtesy: Reuters/Investing.com
The Norwegian crown rose from six-week lows against the dollar and the euro on Thursday after Norges Bank raised interest rates, as expected, and said it was likely to hike again in September. The dollar hovered around a two month-high after Federal Reserve meeting minutes left the door open for more rate hikes and data this week indicated a resilient U.S. economy. Against the dollar, the Norwegian crown was last up 0.2% to 10.59, having fallen as low as 10.66 earlier in the session. It rose 0.3% against the euro to 11.51, after touching its lowest since July 10. “We…
