Dollar Declines After Biden’s Withdrawal from Elections

Dollar Declines After In a significant development on Monday, the US dollar experienced a decline against a basket of major currencies following the formal withdrawal of President Joe Biden from the 2024 presidential race. Concurrently, the Chinese yuan continued its downward trend for the third consecutive session, following a surprise interest rate cut by the…

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Wall Street Decline on Friday, with major US stock indices heading towards weekly losses. This downturn is largely attributed to a significant selloff in technology shares, which has been triggered by concerns over potential US restrictions on chip sales to China. This article explores the recent market performance, the reasons behind the tech sector selloff,…

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Gold Backs Off prices retreated on Friday during European trade, pulling back from record highs for the third consecutive session as investors engaged in profit-taking. This movement coincided with the advancement of US 10-year treasury yields, which often draws liquidity away from non-yielding assets like gold. Gold Price Movements Despite the recent decline, gold remains…

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Microsoft Outage On Friday, a sudden outage of Microsoft’s internet services caused widespread disruptions across various sectors, impacting banks, exchanges, hospitals, and airports globally. The outage was abrupt and had far-reaching consequences, affecting operations from Asia to the United States. Immediate Impact on Major Sectors The outage had a pronounced effect on several critical sectors:…

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Bitcoin Spike performance continues to captivate investors and analysts alike. On Thursday, Bitcoin resumed its gains after a brief hiatus, approaching four-week highs. The driving force behind this surge is a mix of positive sentiment in the crypto market and the global trend towards policy easing. Additionally, the upcoming US elections are providing significant impetus…

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Dollar Rebounds rose in European trade on Thursday, marking its first gain in three days as it bounced back from recent four-month lows. This rebound is driven by short-covering and rising US Treasury yields. Investors are keenly awaiting the US unemployment claims data for more clues on the future direction of US interest rates. Current…

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