Forex Top Story


robert-shiller-broken-bitcoin-0523189.jpg Robert Shiller, a Nobel laureate, said cryptocurrencies could turn out to be just another failed currency experiment. "As in the past, the public's fascination with cryptocurrencies is tied to a sort of mystery, like the mystery of the value of money itself, consisting in the new money's connection to advanced science," Shiller wrote in a blog on the Project Syndicate website.

new-home-sales-052318.jpg A report released by the Commerce Department on Wednesday showed a pullback in new home sales in the U.S. in the month of April. The report said new home sales fell by 1.5 percent to an annual rate of 662,000 in April after jumping by 2 percent to a revised rate of 672,000 in March.

altcoin-052318.jpg Altcoin means alternative coin and it is any cryptocurrency other than Bitcoin. Bitcoin is the first cryptocurrency and altcoins followed. Some are built on the same distributed ledger technology as Bitcoin, while others are created on new platforms such as Ethereum and IOTA.

eurozonepmi-052318.jpg Eurozone private sector grew at the weakest pace in one-and-a-half years in May with the rate of expansion slowing for the fourth consecutive month, flash survey data from IHS Markit showed Wednesday. The composite output index dropped to an 18-month low of 54.1 in May from 55.1 in April. The score was forecast to remain unchanged at 55.1. Nonetheless, a reading above 50 indicates growth.

uk-cpi-052318.jpg UK inflation continued to slow to reach a 13-month low in April, driven by air fares, adding doubts about the timing of the next rate hike by the Bank of England. Consumer prices climbed 2.4 percent year-on-year in April, slightly slower than the 2.5 percent increase seen in March, the Office for National Statistics reported Wednesday.

gbp-usd2-052318.jpg The pound declined against its key counterparts in the European session on Wednesday, as the U.K. inflation slowed more than expected in April, prompting the Bank of England to delay another rate hike. Data from the Office for National Statistics showed that UK inflation slowed in April. Consumer...

vanguarddown-may22.jpg An economist at one of the world's leading investment companies predicted that there was a high likelihood of Bitcoin becoming worthless. "I see a decent probability that its [Bitcoin's] price goes to zero," Joe Davis, the global chief economist at Vanguard, said in an op-ed in ETF.com. That said, Davis was enthusiastic about the blockchain.

european-economic-preview-052318.jpg Consumer prices from the UK and flash Purchasing Managers' survey data from euro area are due on Wednesday, headlining a busy day for the European economic news. At 2.00 am ET, unemployment data is due from Finland. At 3.00 am ET, IHS Markit publishes France's PMI data. The composite index is seen falling to 56.8 in May from 56.9 in April.

eur-usd3-052218.jpg The dollar is nearly flat in comparison to its major rivals Tuesday afternoon. A number of investors remain on the sidelines due to the continued lack of U.S. economic data. However, things will begin to pick up on the economic front tomorrow. New home sales for April are slated for release Wednesday...

crypto-may22.jpg Cryptocurrencies are trending lower for a second straight day, as sentiment was damped by some dismal predictions regarding the future for the top cryptocurrency, Bitcoin. Here is a wrap of the main news from the cryptocurrency and blockchain space over the past 24 hours.

markettrading-may22.jpg DCA is short for Dollar Cost Averaging. This is an investment strategy used by cryptocurrency investors who HODL, or hold a crypto, for longer term gains. Under DCA, a fixed dollar amount of Bitcoins, or the chosen cryptocurrency, is bought at regular intervals, regardless of whether the price is high or low at that time.

boe-mark-carney-052218.jpg Bank of England Governor Mark Carney said on Tuesday that interest rates are set to rise at a gentle pace and the slowdown seen in the first quarter was temporary. Speaking to lawmakers, Carney said households expect rate hikes over the course of the year. They also expect the bank to proceed at a very gentle pace.

australia-crypto-scam-052118.jpg Australians lost nearly A$2.1 million in crypto scams in 2017, as the popularity of cryptocurrencies peaked in the final quarter of the year. Cryptocurrency prices surged in the final quarter of 2017, with Bitcoin hitting a high of around US$20,000.

economic-preview-052218.jpg Public sector finance data from the UK is due on Tuesday, headlining a light day for the European economic news. At 3.30 am ET, Statistics Sweden publishes unemployment data for April. The jobless rate is seen at 6.1 percent versus 6.2 percent in March.

The dollar is turning in a mixed performance against its major rivals Monday afternoon, but remains little changed overall. The buck is down slightly against the Euro, but is modestly higher against the British pound and Japanese Yen. The lack of U.S. economic data is keeping some investors on the...

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