Ethereum Drops by 4% Due to High-Risk Asset Sell-Offs

Ethereum Drops On Wednesday, along with many other cryptocurrencies, experienced a notable drop amid intensive sell-offs of high-risk assets. Market Context Manufacturing Activity in the US Recent government data revealed a contraction in US manufacturing activity. The index fell to 49.5 points this month, contrary to analysts’ expectations of a rise to 51.7 points from…

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Oil Prices Hold managed to rise on Wednesday during American trade, marking the first increase in five sessions. This rebound helps prices stay above six-week lows, primarily driven by a significant drop in US crude inventories. Current Oil Prices and Market Movements Oil prices have been buoyed by a combination of factors, including a recent…

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Dollar Gives Up relinquished some of its recent gains, falling in European trade on Wednesday against a basket of major rivals. This retreat follows the dollar’s recent peak during Asian trading hours and comes amid active profit-taking and pressure from rising US Treasury yields. Investors are now closely watching for key economic data from the…

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Gold Moves into a positive shift, rising on the European market thanks to declining US Treasury yields and anticipated changes in demand dynamics. With investors closely watching economic indicators and central bank signals, the precious metal’s price movements reflect a mix of cautious optimism and strategic positioning. Overview of Recent Gold Price Movements Gold prices…

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German Services Sector economy has received another concerning update with the release of the preliminary Services PMI for July. At 52.0 points, this reading marks the lowest level since March and is below both market expectations and previous readings. This article explores the implications of this decline for Germany, the largest economy in the Eurozone.…

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The French Services sector has shown signs of recovery, as indicated by the latest data. The preliminary reading for the Services PMI in France for July registered at 50.7 points, signaling a return to growth after two months of contraction. This article explores the implications of this positive development for the French economy and the…

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The British Pound has been under considerable pressure lately, dipping to its lowest levels in two weeks. This decline comes as the market eagerly awaits crucial data from key sectors in the UK, which will provide insights into the economic health of the nation and influence future interest rate decisions. In this article, we’ll explore…

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Europes STOXX markets experienced a slight uptick on Tuesday, driven primarily by a surge in technology-related shares following impressive earnings reports from SAP. This modest gain helped to counterbalance declines in resource-linked stocks, which were affected by falling commodity prices. Performance Overview The pan-European STOXX 600 index closed 0.1% higher, marking a small but significant…

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Swiss Bank Julius Baer announced the appointment of Stefan Bollinger, a partner at Goldman Sachs, as its new CEO. This move comes as the bank seeks to recover from the financial setbacks caused by its involvement with the Signa property group. Background on Julius Baer’s Recent Challenges Julius Baer has been grappling with the fallout…

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Oil Declines prices fell on Monday as markets evaluated the impact of China’s latest monetary policy decision. The People’s Bank of China (PBOC) voted to cut the reverse repo interest rates for seven days, marking the first such move since August 2023. Additionally, the PBOC reduced one-year borrowing costs from 3.45% to 3.35%, responding to…

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