China is widely expected to leave its benchmark lending rates unchanged on Wednesday, a Reuters poll showed, as rate cuts a month earlier squeeze banks’ profitability and the yuan comes under fresh pressure as Donald Trump returns to the White House.
The yen got some much-needed respite on Tuesday as it steadied on the stronger side of 155 per dollar thanks to a pullback in the U.S. currency, which ran into profit-taking after a stellar rally that saw it scale a one-year high.
Gold prices rose in Asian trade on Tuesday, extending a recovery from two-month lows as the dollar retreated from recent peaks, while increased tensions between Russia and Ukraine also fed safe haven demand.
The buy was by far the company’s biggest purchase of the cryptocurrency, furthering its spot as the world’s biggest corporate holder of Bitcoin. The company now holds a total 331,200 Bitcoins, and has flagged plans to purchase even more coins in the coming years.
The eurozone’s final consumer inflation reading for October remains the focal point for the region, as traders await confirmation of price pressures and their potential impact on European Central Bank policy.
The start of IRS transactions follows the recognition by the International Swaps and Derivatives Association of the benchmark – the overnight reference rate (ORR) – which the Bankers Association of the Philippines helped establish.
The dollar rose against the yen on Monday after Japan’s top central banker flagged further policy tightening ahead but left open the question of timing, leaving the market no clearer on whether a move would come next month.
-Oil prices edged up on Monday after fighting between Russia and Ukraine intensified over the weekend, although concerns about fuel demand in China, the world’s second-largest consumer, and forecasts of a global oil surplus weighed on markets.
Over the past seven days, Litecoin has seen a rise in value, as it gained 12.19%. The volume of Litecoin traded in the twenty-four hours to time of writing was $1.627B or 1.02% of the total volume of all cryptocurrencies. It has traded in a range of $71.8827 to $98.3636 in the past 7 days.
The benchmark posted its first four-week losing streak in two-and-a-half years on Friday, hit by disappointing earnings, a jump in Treasury yields and concerns about the impact of U.S. President-elect Donald Trump’s policies on global economies and businesses.
