Gold slips after solid US jobs data last week on August 9, 2022Gold prices fell slightly on Monday after strong US employment statistics last week raised the potential of fast interest rate rises by the US Federal Reserve, raising the dollar and Treasury rates. Spot gold was down 0.1pc at $1,771.74 per ounce, after falling 1pc the previous session. Gold futures in the United States fell 0.2pc […]
Bitcoin leads crypto rally as market shrugs off US jobs shock on August 9, 2022Bitcoin led a rise in crypto tokens on Monday, as investors flocked to digital assets in the aftermath of strong US job statistics. By mid-morning trading in London, the biggest cryptocurrency by market value had risen as much as 4pc past the $24,000 barrier, while Ether was up 3pc at roughly $1,770. After the robust […]
Oil endures choppy start to week with demand concern to the fore on August 9, 2022Oil recovered from an early fall at the start of the week to surge higher as investors analysed demand predictions ahead of a deluge of market intelligence from big energy firms. After falling more than 1pc earlier in the day, West Texas Intermediate rose toward $90 per barrel. Investors have shifted away from commodities in […]
UK investigates sale of national grid’s gas transmission business, report says on August 8, 2022Britain has launched an investigation under new national security rules into the sale of a 60pc stake in National Grid ‘s gas transmission and metering business to a consortium led by Australia’s Macquarie, the Telegraph reported on Sunday. National Grid agreed to sell the unit for an enterprise value of about 9.6b pounds ($12.7b) in […]
BlackRock entry can make bitcoin price return to its all-time highs of almost $70,000 per bitcoin on August 8, 2022After surging higher during July, prominent cryptocurrencies like bitcoin, ethereum, and others have found it difficult to keep up their enthusiasm. Approximately 70pc behind its all-time highs, the price of bitcoin had started to rise last month but has since halted as investors wait for a Federal Reserve bombshell as a “hundred-pound gorilla grows closer […]
Bangladesh announces fuel price jumps by 51.7pc on August 8, 2022Hundreds-of-thousands of Bangladeshis surrounded petrol stations around the nation after the government hiked prices by up to 52pc, the highest increase on record, due to increasing oil costs. At midnight on Friday, Dhaka stated that the price of gasoline will increase by 51.7pc and the price of diesel by 42.5pc. Nationwide, motorcycle riders flocked to […]
SBP reluctant to renew BPA with Iran on August 7, 2022SBP is reluctant to reviving the BPA with Iran. According to well-informed sources, the State Bank of Pakistan (SBP) has allegedly rejected the renewal of the Banking Payment Agreement (BPA) with Iran, claiming that the proposed accord may not be feasible in the present international context. This issue is on the proposed agenda for the […]
Ethereum price climbs 50pc against bitcoin in one month on August 7, 2022On August 6, ETH/BTC reached an intraday high of 0.075 after a 1.5pc gain. Meanwhile, the pair’s gains were part of a larger comeback trend that began a month ago at 0.049, totalling to around 50pc gains. Meanwhile, a double bottom pattern resolves when the price breaks over its common resistance level and increases by […]
Oil suffers its worst weekly loss since April on August 7, 2022Oil experienced its worst weekly loss since early April as evidence of a worldwide economic downturn reducing demand increased. Prices have not been this low in almost six months. West Texas Intermediate ended the week at $89 per barrel, down over 10pc. Reduced US gasoline consumption has raised concerns about demand, and insufficient liquidity has […]
PKR gains Rs2.11 against dollar in interbank market on August 6, 2022The rupee, which has been gaining against the dollar for more than a week, continued to rise in the interbank market on Friday. The rupee has been falling steadily since July 15, reaching a record low of 239.94 on July 28. However, it has shifted gears since July 29 and its value has climbed by […]