Currency news

 The NuCypher digital currency achieved strong profits during trading today, Friday, at a rate of nearly 600%, in light of some positive developments in the markets, which pushed the currency to climb to 80% among the list of the most popular digital currencies in terms of market value. During Friday’s trading, the NuCypher digital currency rose by 589.38% and scored about $2.02, bringing its capital value to $1,391,772,869, and the daily trading volume on Polygon was about $1,639,940,311. NuCypher cryptocurrency benefited from developments in the market, led by the fact that the Korean crypto exchange Upbit added the NuCypher cryptocurrency MATIC token for trading on its platform. Besides NuCypher, South Korea's platform launched two additional cryptocurrencies, Solana and Polygon, with Solana's coin up slightly by 5.8% since the listing, while Polygon made a solid 21% gain, up from $1.5366.

 The dollar is heading for its first weekly decline against its major peers since the beginning of last month, retreating from a one-year high as traders turned their attention to when the US Federal Reserve will start raising interest rates. The DXY dollar index, which measures the greenback against six major currencies, fell 0.1% to 93.945 points during Friday's trading. It is on its way to a decline of 0.19% this week, despite reaching its highest level since September 25 of last year at 94.563 points. It is reported that improved market sentiment, which has led to higher global stocks, commodity prices and bond yields, is also affecting the safe-haven dollar. Only against the yen - another haven currency - the dollar managed to maintain the momentum of the past five weeks, rising 0.33% on Friday and touching 114.075 yen for the first time since December 2018. The dollar has risen since early September on expectations that the US Federal Reserve will tighten monetary policy fast...

 US stock futures rose on Friday and pointed to weekly gains for the major indices, as corporate earnings awaited and ahead of Goldman Sachs results, which are expected to conclude a strong third-quarter earnings season for major banks. However, the Commerce Department's report, due out at the time, is likely to show a decline in retail sales in September amid persistent shortages of cars and other goods. The data will come against the backdrop of high oil prices, labor shortages and supply chain disruptions, factors that have rattled investors and led to recent market volatility. At 11:48 am GMT, the Dow jones index rose by 0.43%, or 148 points, to the level of 34,932.00, and the Standard & Poor's S&P500 index rose by about 0.34%, or by 15 points, to 4,444.00. At the same time, the Nasdaq Composite Index jumped 0.28%, or about 42.75 points, to 15,080.00

 The Central Bank of Egypt said in a statement published on Thursday that the current account deficit widened to $18.4 billion in the 2020-21 fiscal year from $11.2 billion in the previous year, as tourism revenues plunged about 50 percent.  The Central Bank of Egypt said in a statement published on Thursday that the current account deficit widened to $18.4 billion in the 2020-21 fiscal year from $11.2 billion in the previous year, as tourism revenues plunged about 50 percent. The bank added that tourism revenues fell 50.7 percent to $4.9 billion over the fiscal year as the coronavirus pandemic reduced international travel, down from $9.9 billion in 2019-20.

 Russian President Vladimir Putin has said that cryptocurrencies are too volatile to be used to settle oil contracts, but nonetheless deserve a place as a means of payment. Russian President Vladimir Putin has said that cryptocurrencies are too volatile to be used to settle oil contracts, but nonetheless deserve a place as a means of payment. The Russian president made the remarks in an interview with CNBC television, which was published on the Kremlin's website on Thursday. Putin was responding to a question if he expected oil contract prices to be valued in cryptocurrencies instead of dollars in the future. Russia has been trying for years to reduce its dependence on the US dollar, which is widely used to settle oil contracts, but it has not succeeded in achieving this on a large scale, although some commodity companies have switched to dealing in euros. “It is too early to talk about that at the moment because cryptocurrency can, of course, be a means of payment, but it is very ...

 Oil prices rose 1% on Thursday after major producer Saudi Arabia rejected calls to increase OPEC+ production and after the International Energy Agency said higher natural gas prices could boost demand for oil to generate electricity. The market has largely ignored an unexpected increase in US crude inventories as refiners cut production. Brent crude futures rose 82 cents, or 1 percent, at settlement to $ 84 a barrel, the highest settlement level since October 2018. US West Texas Intermediate crude contracts also rose 87 cents at the settlement to $ 81.31 a barrel, recording a new seven-year high at the close.