Currencies

After talking about creating a “strategic reserve” of cryptocurrencies during his Presidential bid last year, Donald Trump has for the first time announced five virtual coins he plans to include in the American reserve stockpile – a move which has given a booster shot to the crypto trading market, helping it upend the downward trajectory it seemed to be headed on over concerns around Trump’s uncertain trade decisions.The market prices of the five coins he named – Bitcoin, Ethereum, XRP, Solana and Cardano – all swiftly jumped after the announcement....

ASIAN markets climbed on Monday on hopes that China will announce a huge stimulus package that will help offset US President Donald Trump’s looming tariffs against Chinese goods.Investors were also watching for any last-ditch deals to ward off the levies hitting Mexico, Canada and China due to come in force on Tuesday.Trump had confirmed 25 per cent tariffs on products from Mexico and Canada, and further imposed another 10 per cent on Chinese goods from this week.“Traders are on edge for last-minute negotiations to sidestep US tariffs,” said Stephen Innes,...

MUMBAI: The Indian rupee is likely to inch up on Monday, tracking an uptick in regional peers to kick off a week where the focus will be on news flow on U.S. tariffs and economic data. The 1-month non-deliverable forward indicated that the rupee will open at 87.40-87.42 to the U.S. dollar compared with 87.4950 in the previous session. The Indian currency dropped 1% in February, logging its fifth straight monthly loss. March is considered seasonally favourable for the rupee and the Indian currency may be able to pause its...

Asian markets climbed on Monday on hopes that China will announce a huge stimulus package that will help offset US President Donald Trump's looming tariffs against Chinese goods.Investors were also watching for any last-ditch deals to ward off the levies hitting Mexico, Canada and China due to come into force on Tuesday.Trump has confirmed 25 percent tariffs on products from Mexico and Canada, and further imposed another 10 percent on Chinese goods from this week."Traders are on edge for last-minute negotiations to sidestep US tariffs," said Stephen Innes, an analyst...

Share prices of European defence companies soared Monday as London and the European Union look to ramp up military spending in the face of uncertainty over the United States' commitment to Ukraine and NATO.BAE Systems surged 14 percent, helping London's benchmark FTSE 100 index to a record high, the latest in a series over recent months.French defence group Thales won more than 16 percent and German peer Rheinmetall rallied 15 percent."Europe is rallying round Ukraine and it's hard to see defence stocks not enjoying years of orders," noted Neil Wilson, analyst at TipRanks.European Commission chief Ursula von der...

Share prices of European defence companies soared Monday as London and the European Union look to ramp up military spending in the face of uncertainty over the United States' commitment to Ukraine and NATO.BAE Systems surged 14 percent, helping London's benchmark FTSE 100 index to a record high, the latest in a series over recent months.French defence group Thales won also 14 percent and German peer Rheinmetall rallied 12 percent in late morning trade."Europe is rallying round Ukraine and it's hard to see defence stocks not enjoying years of orders," noted...

Trump said in a post on Truth Social that his January executive order on digital assets would create a stockpile of currencies including bitcoin, ether, XRP, solana and cardano. The names had not previously been announced.Bitcoin and ether would be at the heart of this reserve, he posted on Sunday.The post sent the world’s largest cryptocurrency up by more than 20 per cent from the November lows it was trading at on Friday, helping flip sentiment on a token that has been sliding since mid-January on disappointment Trump has not...

WEST PALM BEACH, Florida - US President Donald Trump on social media announced the names of five digital assets he expects to include in a new US strategic reserve of cryptocurrencies on March 2, spiking the market value of each.Mr Trump said in a post on Truth Social that his January executive order on digital assets would create a stockpile of currencies including Bitcoin, Ether, XRP, solana and cardano. The names had not previously been announced.More than an hour later, Mr Trump added: “And, obviously, BTC and ETH, as other...

President Trump on Sunday named five cryptocurrencies under consideration for a new U.S. "strategic reserve," sending their values skyrocketing and partly reversing a recent slump.In a post on Truth Social, Mr. Trump said the President's Working Group on Digital Asset Markets, a group he set up through an executive order shortly after taking office, is moving forward with the crypto reserve, which will include Bitcoin, Ethereum and three smaller cryptocurrencies: XRP, Solana, and Cardano."I will make sure the U.S. is the Crypto Capital of the World," Mr. Trump wrote.David Sacks, a...