Author: ruba

In a surprising show of confidence, Indian crypto investors rushed to buy Bitcoin even as the world’s largest cryptocurrency tumbled below $90,000 for the first time in seven months on November 18. A massive $1-billion liquidation wave triggered the sharp fall, but instead of retreating, Indian traders saw an opportunity—and acted fast. According to leading exchanges, “buying the dip” was the dominant sentiment of the day. Bitcoin alone made up nearly 40% of CoinSwitch’s retail spot trading volumes, even as the coin continued trading in deep red. At Giottus, the platform’s “big buyers”—investors holding more than ₹5 lakh worth of…

The cryptocurrency market’s most speculative tokens have plunged to their lowest levels since the Covid-19 era, signaling a dramatic shift in investor sentiment. The MarketVector Digital Assets 100 Small-Cap Index, which tracks the 50 smallest cryptocurrencies within a larger basket of 100 tokens, sank on Sunday to levels last seen in 2020. The drop comes amid a broader crypto slump: Bitcoin, which had been up nearly 30% earlier this year after hitting a record high, has now erased that gain. As the flagship cryptocurrency loses momentum, smaller “altcoins” — often considered the riskiest assets in the market — are struggling…

Wall Street wrapped up Friday’s trading session on a mixed note, with investors keeping a close eye on next week’s highly anticipated Nvidia earnings report while growing increasingly cautious about the Federal Reserve’s interest rate outlook. The Nasdaq eked out a 0.13% gain, closing at 22,900.59, buoyed by strong performances from major AI-driven stocks. Meanwhile, the S&P 500 slipped slightly, and the Dow Jones Industrial Average fell 0.65% to 47,147.48, pressured by declines in blue-chip companies like UnitedHealth Group (-3.2%) and Visa (-1.8%). The session began with a steep selloff that dragged all three major indexes down more than 1%.…

Gold prices steadied on Thursday after a sharp 2% surge the previous day, as traders grappled with uncertainty surrounding the U.S. economy and a lack of official data during a historic six-week government shutdown. The precious metal traded around $4,200 an ounce, extending a four-day winning streak — its longest in a month — as investors sought stability in a murky economic landscape. The recent rally has pushed gold up nearly 5% this week, fueled by speculation that the Federal Reserve may lean toward interest-rate cuts once Washington resumes normal operations. While U.S. lawmakers have approved a temporary funding bill…

The Indian rupee opened flat on Monday, November 11, supported by renewed optimism from U.S. President Donald Trump regarding an upcoming trade deal with India. The local currency began trading at ₹88.6950 against the U.S. dollar, nearly unchanged from its previous close of ₹88.6987. Market sentiment received a mild boost after President Trump hinted at a possible reduction in tariffs imposed on Indian goods. Speaking to reporters, Trump said, “We’re going to bring down the tariffs… At some point, we’re going to be bringing them down.” The comments come amid ongoing trade negotiations between New Delhi and Washington. Earlier this…

Wall Street wrapped up a turbulent week on a mixed note Friday, with the Nasdaq closing lower while the S&P 500 and Dow Jones Industrial Average managed modest gains in late trading. The recovery came as reports suggested progress in resolving the longest federal government shutdown in U.S. history, offering a glimmer of relief to anxious investors. After spending most of the day in negative territory, the Dow rose 74.80 points (0.16%) to 46,987.10, while the S&P 500 edged up 8.48 points (0.13%) to 6,728.80. The Nasdaq Composite, however, slipped 49.45 points (0.21%) to 23,004.54, weighed down by renewed selling…

The Indian rupee opened 13 paise higher at 88.52 per US dollar on November 6, tracking overnight gains in major Asian currencies and supported by the Reserve Bank of India’s (RBI) active intervention in the currency market. The rupee had previously closed at 88.65 in the last trading session. Analysts say the RBI continues to play a crucial role in preventing the rupee from hitting fresh record lows. “The currency pair looks largely steady with RBI being the only factor who has stepped in to avert rupee depreciation from the past all-time lows,” said Anil Kumar Bhansali, Head of Treasury…

In a major step toward easing trade tensions, China has officially suspended its retaliatory tariffs on key U.S. agricultural products, just hours after the United States cut levies tied to fentanyl-related goods imported from China. The announcement was confirmed Wednesday by China’s Ministry of Finance, marking a significant development in the ongoing economic negotiations between the world’s two largest economies. Beginning Monday at 1:01 p.m., China will lift tariffs first imposed on March 4 on major U.S. farm exports, including soybeans, corn, wheat, sorghum, and chicken. The move is part of a broader agreement between U.S. President Donald Trump and…

In a major step toward easing economic tensions, China has agreed to suspend key export controls on rare earth metals and halt investigations into US semiconductor firms, according to a fact sheet released by the White House on Saturday. The move is part of a broader trade pact reached this week between President Donald Trump and Chinese President Xi Jinping during their first in-person meeting of Trump’s second term. Under the agreement, China will issue general export licenses for critical minerals including rare earths, gallium, germanium, antimony, and graphite. This effectively rolls back restrictions imposed in 2022 and 2025, which…

The U.S. dollar strengthened on Thursday after Federal Reserve Chair Jerome Powell avoided confirming whether another interest rate cut would come in December, fueling investor uncertainty and lifting bond yields. The Bloomberg Dollar Spot Index gained as much as 0.4%, marking its biggest rise since October 9. The Swiss franc and British pound were among the major currencies to weaken against the greenback. “The dollar rallied sharply on Powell’s comment that a December cut is not a foregone conclusion,” said Alex Cohen, strategist at Bank of America Corp. “This provided more clarity than markets anticipated and challenged expectations of a…