2024-01-05 17:30

FRANKFURT - The European Central Bank (ECB) is taking significant steps towards the creation of a digital euro, working on a comprehensive rulebook that will outline the operational frameworks and standards for digital currency exchanges within Europe. The ECB's initiative is designed to integrate a digital euro into the current financial system, complementing the circulation of physical cash and offering a unified payment solution across various scenarios. The development of the digital euro rulebook is a collaborative effort, incorporating feedback from a wide range of stakeholders, including consumers and merchants. The draft is under active review and will be further refined to ensure it covers critical aspects such as user experience, branding, and the capacity to adapt to potential legislative changes. ECB President Christine Lagarde has highlighted the preparatory stage for the digital euro, which is expected to span two years. This period will be crucial for laying the groundwork and ensuring that the digital euro can meet the diverse needs of the European economy while maintaining high standards of risk control and communication. As the ECB progresses with this digital currency project, future updates to the rulebook will include detailed guidelines on communication protocols and risk management strategies essential for the security and efficiency of the digital euro system. https://www.investing.com/news/cryptocurrency-news/ecb-moves-forward-with-digital-euro-rulebook-development-93CH-3268376

2024-01-05 16:24

Copyrighted Image by: Investing.com NEW YORK - Bitcoin has seen a surge in whale activity, with a significant volume of transactions exceeding $100,000, indicating a peak in large-scale movements that the market has not witnessed in two years. This uptick comes as the cryptocurrency market closely observes the potential for the U.S. Securities and Exchange Commission (SEC) to approve Bitcoin spot exchange-traded funds (ETFs), a development that could significantly sway market dynamics. Earlier this week, Bitcoin's value dipped but has since recovered, reaching $43,852, which represents a 1.79% increase. The recovery and the heightened activity by large investors underscore the cryptocurrency's volatility and the keen interest of market participants in regulatory developments. Investors and analysts are speculating that the approval of Bitcoin spot ETFs by the SEC could attract institutional investors and encourage mainstream investment in the cryptocurrency. The market's attention is fixated on the SEC's impending decision, as it is expected to influence Bitcoin's accessibility to a broader range of investors and possibly catalyze further adoption of cryptocurrencies. https://www.investing.com/news/cryptocurrency-news/bitcoin-whale-activity-hits-twoyear-high-as-market-eyes-sec-etf-decision-93CH-3268352

2024-01-05 15:09

ABUJA - The Central Bank of Nigeria (CBN) has officially approved the cNGN stablecoin for inclusion in its regulatory sandbox, setting the stage for a February launch. The cNGN stablecoin, which is backed by the Nigerian naira reserves, is designed to adhere to the standards established by the CBN, the Securities and Exchange Commission (SEC), and the Nigerian Financial Intelligence Unit (NFIU). This move comes as Nigeria continues to integrate blockchain technology into its financial system. The cNGN stablecoin, not to be confused with the eNaira, is set to operate across multiple blockchain platforms, including Bantu, BNB Smart Chain, Polygon, Ethereum, and Tron. The introduction of the cNGN is aimed at enhancing the process of remittances, leveraging the efficiency and affordability of blockchain technology, while also ensuring consumer protection is a top priority. The approval of the cNGN stablecoin is a significant step following a December banking circular that viewed cryptocurrencies in a positive light. This shift in the financial landscape reflects Nigeria's high rate of cryptocurrency adoption, which has been driven by the depreciation of the naira and the country's recognition of the growing global demand for digital currencies. https://www.investing.com/news/cryptocurrency-news/nigeria-central-bank-greenlights-cngn-stablecoin-for-february-launch-93CH-3268277

2024-01-05 14:03

Copyrighted Image by: Reuters The cryptocurrency market has witnessed a surge in investor confidence, with Bitcoin breaking past the $44,000 threshold as the overall market capitalization reached $1.66 trillion. This uptick in the crypto market is partly attributed to the recent filings by Grayscale and VanEck for Spot ETFs with the Securities and Exchange Commission (SEC), which has contributed to a more bullish investor sentiment. In parallel, Ethereum has also experienced price increases, with significant whale accumulation signaling a robust market confidence. The broader financial markets are reflecting this positive sentiment, with stock futures showing modest gains. The Dow Jones Industrial Average ended its session slightly higher, adding to the optimistic outlook for investors. https://www.investing.com/news/cryptocurrency-news/bitcoin-climbs-past-44000-as-market-cap-hits-166-trillion-93CH-3268232

2024-01-05 13:43

FRANKFURT - CureVac has recently shared encouraging outcomes from its latest COVID-19 vaccine trials, conducted in partnership with GSK. The preliminary data indicates that the vaccines, including a monovalent and a bivalent candidate, have generated strong immune responses even with lower dosages and are well-tolerated. The monovalent vaccine candidate is designed to target the spike protein of the Omicron BA.4-5 variant, whereas the bivalent vaccine candidate aims at the spike proteins of both the Omicron BA.4-5 variant and the original SARS-CoV-2 virus. These results mark a significant step forward in the ongoing efforts to develop effective vaccines against emerging variants of COVID-19. As the company announces these positive trial results, it is also preparing for discussions about advancing to a Phase 3 trial. This next phase is crucial for further evaluating the efficacy and safety of the vaccine candidates on a larger scale. The progression to Phase 3 will bring the vaccines one step closer to potential approval and public availability. https://www.investing.com/news/cryptocurrency-news/curevac-reports-promising-covid19-vaccine-trial-results-with-gsk-93CH-3268208

2024-01-05 09:13

Copyrighted Image by: Reuters. Investing.com - The U.S. dollar gained in early European trade Friday, on course for its strongest week since July ahead of the release of the widely-watched monthly official jobs report. At 04:10 ET (09:10 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.3% higher at 102.410, set for a weekly gain of around 1.3%. Dollar set for strong weekly gains The dollar has rebounded sharply this week as economic resilience has prompted traders to scale back expectations that the Federal Reserve could begin cutting interest rates as early as the first quarter of 2024. Data released on Thursday showed that U.S. private employers added far more roles than expected in December, with ADP private payrolls coming in at 164,000 last month, rising from a downwardly revised mark of 101,000 in November. On Wednesday, separate data from the Labor Department showed that the number of people quitting their jobs fell to its lowest level since 2021 in November, while U.S. job openings also dropped to an almost three-year low. These numbers serve as a precursor to the all-important nonfarm payrolls report due later this session, which could offer further insight into the U.S. jobs picture. “The start of 2024 FX trading has been characterised by a modest reversal of some of the very benign, pro-risk trends that dominated late last year,” said analysts at ING, in a note. “At the heart of the story is the consensus view of a U.S. soft landing, where inflation back on target can allow the Federal Reserve to bring rates back to some kind of normal level without the economy needing to contract sharply.” Euro edges lower ahead of eurozone CPI In Europe, EUR/USD traded 0.3% lower at 1.0913, on track for 1% decline in the week, snapping a run of three weeks of gains. German retail sales fell 2.5% on the month in November, a sharp retreat after a gain of 1.1% the previous month, but the focus Friday will be on the release of the December eurozone CPI later in the session. The headline prints for France and Germany both crept higher earlier in the week, and the eurozone figure is expected to have risen to 3.0% on an annual basis, up from 2.4% in November. GBP/USD fell 0.1% to 1.2664, on course for a loss of around 0.5% this week, with sterling helped to a degree by data from Halifax showing average U.K. house prices rose for the third straight month in December to their highest level since March 2023. Yen close to three-week low Elsewhere, USD/JPY traded 0.4% higher to 145.12, with the yen close to its weakest level in more than three weeks, as sentiment towards Japan was also dented by a devastating earthquake in the country. USD/CNY edged lower to 7.1564, with the yuan set to lose nearly 1% this week, as sentiment towards China remained largely negative. Still, more weakness in the yuan was held back by a series of stronger daily midpoint fixes by the People’s Bank of China. https://www.investing.com/news/forex-news/dollar-set-for-positive-week-ahead-of-monthly-jobs-report-3267863