Mar 4 2024: On Sunday, U.S. congressional negotiators unveiled a comprehensive bill aimed at financing essential government operations throughout the remainder of the fiscal year that commenced in October. This measure comes amid the looming threat of a partial government shutdown should lawmakers fail to act before Friday’s deadline. According to a spokesperson for Democratic Senate Majority Leader Chuck Schumer, the proposed legislation outlines a discretionary spending target of $1.66 trillion for fiscal year 2024. It elaborates on an agreement reached by Schumer and Republican House Speaker Mike Johnson earlier in January. Last week, legislators passed the fourth interim funding measure…
Author: editor2
Mar 4 2024: Most Asian currencies maintained narrow trading ranges on Monday, while the dollar stabilized following recent declines as investors awaited further guidance on U.S. interest rates from the Federal Reserve, along with significant payrolls data scheduled for release this week. Attention was also directed towards China’s annual congress, where policymakers are expected to unveil additional stimulus measures aimed at bolstering the region’s largest economy. The dollar index and dollar index futures exhibited minimal movement in Asian trading on Monday, following two consecutive weeks of losses. The greenback had been under pressure amid growing expectations that the Federal Reserve would…
Mar 4 2024: Gold prices experienced a slight decline in Asian trading on Monday but remained close to two-month highs, bolstered by increasing speculation of potential interest rate cuts in the United States later this year, prompting significant gains in the precious metal. However, gold is expected to consolidate its position in the short term, particularly with key signals from the Federal Reserve and significant labor market data scheduled for later in the week. Spot gold edged down by 0.1% to $2,080.86 per ounce, while gold futures expiring in April dipped by 0.3% to $2,089.25 per ounce as of 00:12 ET…
Mar 4 2024: Bitcoin reached a two-year peak on Monday, surpassing $64,000 as a surge of investment propelled it tantalizingly close to its all-time highs. Early in the Asian trading session, it peaked at $64,285, marking its highest point since late 2021. By the close of the session, it had gained 2%, reaching $63,850. Bitcoin’s previous record stands at $68,999.99, achieved in November 2021. The leading cryptocurrency by market capitalization has experienced a 50% increase in value this year, with much of the ascent occurring in recent weeks, coinciding with a surge in trading volume for U.S.-listed bitcoin funds. The approval…
Mar 4 2024: Japan’s primary stock index breached the 40,000-point milestone for the first time on Monday, closing at a historic high. This surge in the Nikkei share average reflects a combination of corporate governance reforms and robust valuations, fueling sustained interest from global investors. Buoyed by a rally in technology stocks akin to their U.S. counterparts, the Nikkei concluded the day with a 0.5% increase, reaching 40,109.23 points. Following five consecutive weeks of gains, the index soared past the previous intraday peak of 39,990.23 recorded on Friday, briefly hitting 40,314.64 before moderating in the afternoon. “While short-term fluctuations are possible…
Mar 1 2024: Gold prices remained steady in Asian trading on Friday, inching close to breaking above key levels fueled by overnight data that bolstered hopes of potential interest rate cuts from the Federal Reserve amidst easing inflation. Spot prices of the precious metal hovered near a trading range of $2,000 to $2,050 an ounce, a significant threshold established throughout much of 2024. However, the resilience of the US dollar tempered further gains in gold, as the greenback strengthened in overnight trading and maintained its robustness during the Asian session. Spot gold held firm at $2,043.64 an ounce, while gold…
Mar 1 2024: European shares opened the month on a positive note on Friday, bolstered by the strength in global stocks following favorable U.S. inflation data and optimistic earnings reports, while investors awaited euro zone inflation data for insights into potential monetary policy adjustments. The pan-European STOXX 600 climbed 0.5% by 9:34 GMT, edging close to a record high, in line with the resilience seen in global equities. Nonetheless, the benchmark index was poised for its first weekly decline in six weeks. Germany’s DAX advanced by 0.6%, reaching record highs for the seventh consecutive session. The European technology index gained…
Mar 1 2024: In early European trade on Friday, the U.S. dollar showcased resilience, maintaining most of its overnight gains following the release of highly anticipated U.S. inflation data, while the euro displayed some upward momentum. At 04:00 ET (09:00 GMT), the Dollar Index, which gauges the greenback against a basket of six other major currencies, traded relatively flat at 104.107, after a volatile overnight session. Resilient U.S. Dollar: The PCE price index, the Federal Reserve’s preferred inflation measure, moderated in January according to Thursday’s data release, but still remained significantly above the central bank’s annual inflation target. This came…
Mar 1 2024: LONDON (Reuters) – Oil prices saw an uptick on Friday, with weekly gains in sight, as the market awaited a decision from OPEC+ regarding supply agreements for the second quarter, alongside digesting fresh economic data from the United States and China. By 0950 GMT, Brent futures for May were up $1.01, or 1.23%, reaching $82.92 a barrel. The April Brent futures contract expired on Feb. 29 at $83.62 a barrel. Meanwhile, U.S. West Texas Intermediate (WTI) for April surged 97 cents, or 1.24%, to $79.23 a barrel. WTI is set for a 3.6% increase this week, with…
Mar 1 2024: AGM Group Holdings Inc. (“AGMH” or the “Company”) (AGMH) has revealed its strategic enhancement designed to expedite its global expansion efforts. The focus is on advancing its Bitcoin mining and data center operations, with AGM Group diversifying its portfolio to encompass digital technology, cryptocurrency mining, and technology hardware research and development, manufacturing, and sales. Drawing on its extensive track record of fostering customer relationships for mining machine acquisitions and collaborating with energy partners possessing significant energy reserves, AGM Group is primed to broaden its presence in the mining industry. The company’s expansion approach is multifaceted, incorporating self-developed…
