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On Thursday, the EUR/USD pair continued its upward movement and reached the 127.2% Fibonacci retracement level at 1.1712. A rebound from this level would favor the U.S. dollar and a potential decline toward the 1.1645 and 1.1574 levels. A daily close above 1.1712 would increase the likelihood of further growth toward the next level at
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The U.S. dollar is under intense pressure, hitting a three-year low as markets grapple with the increasing likelihood of aggressive interest rate cuts and the potential for political interference in the Federal Reserve’s independence. The Dollar Index (DXY), a measure of the dollar’s value against a basket of major currencies, is currently trading at 97.114,
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The U.S. dollar is under intense pressure, hitting a three-year low as markets grapple with the increasing likelihood of aggressive interest rate cuts and the potential for political interference in the Federal Reserve’s independence. The Dollar Index (DXY), a measure of the dollar’s value against a basket of major currencies, is currently trading at 97.114,
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Morgan Stanley analysts predict that yuan stablecoin initiatives in Hong Kong could serve as Beijing’s digital currency sandbox, although significant economic challenges threaten to limit the yuan’s international potential, despite the city’s pioneering regulatory framework. Hong Kong’s move positions the territory as a launch pad for yuan-pegged stablecoins, which could serve as a pilot for
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Fundamental Overview The US dollar yesterday got bid across the board in the European session with no strong fundamental background which suggested that it could have been just some position squaring given the overstretched shorts on the dollar. Sure enough, the gains were eventually completely erased and the greenback got sold off pretty hard on
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On Friday, the EUR/USD pair continued to rise after rebounding from the 76.4% corrective level at 1.1454. However, on Monday night, the pair returned to this level. A new rebound allows for expectations of renewed growth in the euro toward the 100.0% corrective level at 1.1574. A consolidation of the pair’s rate below 1.1454 would
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Speaking to Observer Network and other media outlets during a 50-minute session on June 17 in Beijing, JD.com founder and chairman Liu Qiangdong revealed the retail giant is actively pursuing regulatory approval for stablecoin operations in “all major sovereign currency countries globally.” The blockchain-focused announcement represents one of the most significant digital currency initiatives from
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On Wednesday, the EUR/USD pair resumed its decline after a short pause and by Thursday morning settled right around the 76.4% Fibonacci retracement level at 1.1454. A rebound from this level will support the euro and lead to a slight rise toward the 100.0% Fibonacci level at 1.1574. A firm consolidation below 1.1454 would increase
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Forex trading is a global market where South African investors can find big financial chances. It lets people trade currencies worldwide. This can lead to profits through smart currency trades. The foreign exchange market never stops working. It offers great chances for South African investors looking for new ways to invest. Trading currencies lets people
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Two major cryptocurrency firms are about to get EU-wide licences under the bloc’s new Markets in Cryptocurrency-Assets (MiCA) rules. But the approvals are already creating tension among regulators. MiCA, which came into effect earlier this year, lets any EU country approve a cryptocurrency company to operate in all 27 member states, Reuters reports. That structure
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