Nixse
96

Weekly news summary for May 27 to June 2

Friday, May 27: Ethereum Extends Decline on PoS Transition Delay

Ethereum extended losses on Friday as traders expressed disappointment over the constant delays to its planned proof-of-stake (PoS) system shift, which is expected to further its transaction volumes and scalability.

The second-largest cryptocurrency hit a 14-month low of $1,718 after Ethereum co-founder Vitalik Buterin said the transition may last until August, although the crypto regained some of the losses to trade at $1,774 later in the session.

Monday, May 30: Luna 2.0 Loses 75% of its Value After Launch

Following its $40 billion crash, Terra’s relaunch of the fallen Luna cryptocurrency on major exchanges started on a poor note after the token saw its value decline 75%.

Data from CoinMarketCap showed the new version of the Luna fell as much as $4.39 after rising to a record of $19.53 on Saturday and has since traded around the price of $5.90.

Tuesday, May 31: Eurozone Inflation Rises to New Record High in May

The eurozone’s inflation rate in May soared to its highest since the euro currency was created in 1999 due to increasing food and energy costs, putting more pressure on the European Central Bank (ECB) to be quicker with leaving its ultra-loose monetary policy.

Eurozone consumer price index (CPI) was up 8.1% from April’s 7.7% last month, a new record high for the seventh month in a row, while the bloc’s core CPI that excludes energy and food prices also increased to 3.8% from 3.5% in May.

Wednesday, June 1: European Manufacturing Activity Slides in May

Manufacturing activity in Europe lost momentum to hit its slowest since early 2021 in May, as higher energy prices, supply chain hurdles in China, and less optimism due to the war in Ukraine weighed on the sector’s growth.

The S&P Global’s Eurozone manufacturing purchasing managers’ index (PMI) dropped to 54.6 in the previous month, its lowest level since December 2020, while the UK’s May PMI of 54.6 marked its lowest since February 2021, with new export orders falling for the eighth month contributing to the decline.

Thursday, June 2: US Dollar Extend Gains as Yields Hit 2-Week High

The dollar strengthened to a three-week high against the yen on Thursday and remained stable versus other major currencies, as the US 10-year Treasury yield reached a two-week high of 2.95% the previous day, fueling the currency.

The greenback extended Wednesday’s 1.1% surge by climbing as much as ¥130.23 to mark its highest since May 11, while the euro and the British pound traded at $1.07 and $1.25, respectively, whereas the US dollar index stood at $102.37.



You might also like
96 Comments
  1. Noah Goossens says

    Good company

    • (4)
      Support
    • (4)
      Platform
    • (4)
      Spread
    • (4)
      Trading Instrument

    Good broker company. The signals are accurate and profitable.

    Did you find this review helpful? Yes No

  2. Mikayla Sleigh says

    Slow withdrawals

    • (2)
      Support
    • (2)
      Platform
    • (2)
      Spread
    • (2)
      Trading Instrument

    Very slow withdrawal process. They gave me hard time and ask for so many documents.

    Did you find this review helpful? Yes No

  3. Isabelle Harrison says

    Skilled broker

    • (4)
      Support
    • (4)
      Platform
    • (4)
      Spread
    • (4)
      Trading Instrument

    I can consider them a good broker. Very professional and skilled in the forex market.

    Did you find this review helpful? Yes No

  4. Laura Yali says

    Luxurious homes

    • (5)
      Support
    • (5)
      Platform
    • (5)
      Spread
    • (5)
      Trading Instrument

    I am pleased with the services. They even consider my personal preferences for interior designs. I find the offers luxurious and price is fair enough.

    Did you find this review helpful? Yes No

  5. Darcy Dechaineux says

    High end services and tools

    • (5)
      Support
    • (5)
      Platform
    • (5)
      Spread
    • (5)
      Trading Instrument

    Premium trading services and tools. These are perfect for profitable trades.

    Did you find this review helpful? Yes No

  6. Natasha Drummond says

    Good broker

    • (5)
      Support
    • (5)
      Platform
    • (5)
      Spread
    • (5)
      Trading Instrument

    Since I started, I’ve experienced two withdrawals. They have been performing well for the past two months that we have been trading with them.

    Did you find this review helpful? Yes No

Leave A Reply

Your email address will not be published.