What is Cryptocurrency and How Does it Work?
What is Cryptocurrency and How Does it Work? Cryptocurrency has emerged as a groundbreaking force in the realm of finance, offering a digital alternative to traditional fiat currencies. It leverages cryptography to secure transactions and control the creation of new units, operating on a decentralized system that is powered by blockchain technology—a transparent and immutable ledger. The Blockchain: Heart of the Cryptocurrency The core of cryptocurrency’s functionality is the blockchain. This technology is a chain […]
Iran and Russia to Conduct Trade Using Own Currencies, Bypassing US Dollar – Reports by State Media
Iran and Russia to Conduct Trade Using Own Currencies, Bypassing US Dollar – Reports by State Media Iran and Russia have reached a significant milestone in their economic partnership by agreeing to conduct trade transactions using their respective local currencies, thereby sidelining the US dollar. This strategic move, confirmed by Iranian state media, was solidified during discussions held by the central bank chiefs of both nations in Russia. The shift to local currencies comes as […]
Japan’s Industrial Production Declines, Indicating an Inconsistent Economic Rebound
Japan’s Industrial Production Declines, Indicating an Inconsistent Economic Rebound Japan is grappling with an uneven economic recovery, as evidenced by contrasting trends in industrial production and retail sales in November. The country’s factories saw a decrease in output, primarily in sectors such as automobile manufacturing, technology equipment, and general machinery, which dipped by 0.9% from the previous month. This decline slightly exceeded expectations and marked a 1.4% reduction from the previous year, according to Japan’s […]
GBP/USD Remains Over 1.2800 as USD Weakens, Eyes on US Jobless Claims
GBP/USD Remains Over 1.2800 as USD Weakens, Eyes on US Jobless Claims The British Pound (GBP) maintains its strength against the US Dollar (USD), persistently trading above the pivotal 1.2800 level amidst a period of USD softening, with market participants keenly awaiting the release of US jobless claims data for further direction. During the Asian trading session on Thursday, the GBP/USD currency pair saw a continued ascendancy beyond the 1.2800 threshold. A combination of reduced […]