Author: Steven Sahiounie

Food and energy are the main contributors to rising prices, according to official data Inflation in France accelerated in April, driven by a surge in energy prices, data published by the national statistics bureau Insee showed. Consumer prices rose by 5.9% last month on an annual basis, up from 5.7% in March, the new figures revealed. Energy price growth soared to 6.8% in April after a 4.9% increase in March, mainly due to rising fuel costs. Meanwhile, the increase in gas prices eased from the March reading of 35.6%, coming in at 22.9% higher year-on-year in April. Food…

The G7 and EU could prohibit the resumption of Russian gas imports on routes where Moscow has cut off supplies in response to sanctions related to the Ukraine conflict, the Financial Times reported on Sunday, citing sources.Discussions are currently being held between G7 and EU officials, and a decision is expected to be finalized at the G7 summit in Hiroshima next week, the report says. According to a draft statement seen by the news outlet, the G7 and EU countries aim to further reduce their use of Russian energy, “including preventing the reopening of avenues previously shut down by Russia’s…

Bitcoin (BTC/USD) retraced some of its recent losses early in the Asian session as the pair appreciated to the 26997.65 level after recently trading as low as the 25810 area, its weakest print since mid-March.Technical demand pushed BTC/USD from the 26351 and 26729.78 levels during the retracement, recent downside price objectives related to selling pressure that intensified around the 28334.75 area.Additional related recent downside price objectives include the 27108, 27577, and 27647 areas.Stops were recently elected below the 27145, 27108, 26765, 26729, 26380, 26309, and 26203 levels during the depreciation, downside price objectives related to recent selling pressure around the 30500, 30050, 29850, 28334, and 27647 levels.Related downside price objectives include the 25474, 25442, 25124, 24705, 24440, 23208, and 22769 levels.Following recent price activity, areas of technical resistance and potential selling pressure include the 27293, 28011, 28591, 29171, 29889, and 29997 levels. Upside retracement levels in recent depreciating ranges include the 28428, 28564, 28700, 28741, 28868, 29243, and 29299 areas.Above the market, upside price objectives related to recent buying pressure around the 27194.51 and 28161.74 areas include the 30420.74, 31237.11, and 32556.73 levels.Additional downside price objectives related to recent depreciating ranges and levels include the 26085, 25604, and 24103 levels.Additional upside price objectives include the 31477.37, 32501.23, 32989.19, 34583.96, 34658.69, 35222.66, 37765.28, and 38403.97 levels. Traders are observing…

Panelists at the recently concluded DMI symposium, including the Ripple president, emphasized the importance of an innovative global payment system. This week, a panel discussion on the next steps for cross-border payments occurred between May 10 and May 11 as part of the Digital Monetary Institute (DMI) symposium in London. The panel featured representatives from the International Monetary Fund (IMF), RTGS Global Limited, the Bank of Mauritius, and the Ripple blockchain, coming together to emphasize the importance of creating an efficient and innovative global payment system. James Wallis, the Vice President of RippleX, highlighted the growing interest of central banks…

Recently Litecoin experienced rejection from $75 level and bounced off to $82 where price faced strong selling pressure. The current market structure for LTC is bearish and bouncing off can be considered as a pullback for price to move further down. Although the candles are forming with small bodies and long bottom wicks indicating buyers are trying to push price up. The current candle is bearish and is headed towards support of $75. The uptrend for litecoin started on May 12 when price created a support at $69 and started to rise to retest the annual highs of $105.71 but…

Arguably the most significant upgrade in its history, the merge saw the Ethereum network transition from a Proof of Work (PoW) consensus mechanism to one based on Proof of Stake (PoS). Now, eight months on from the pivotal event, the long-term consequences of the merge are becoming apparent. ETH Supply Declines According to the Ethereum analytics dashboard ultrasound.money, nearly 650,000 ETH has been burned since the merge. In the same time span, just under 424,000 new ETH have been minted. The result is a net supply change of around -226,000 ETH. As a percentage of the total supply, the numbers…

There is less trust among the main players and there is a weakening of the respect for international law, EU High Representative for Foreign Affairs and Security Policy says The European Union’s military spending has increased by 30% since 2014, EU High Representative for Foreign Affairs and Security Policy Josep Borrell said, opening the EU-Indo-Pacific Ministerial Forum on Saturday. He noted that, since 2014, the EU’s military spending has grown by 30% while this trend is even more pronounced in the Asia-Pacific region where the military spending has increased by 40% versus 2013. “Unhappily, the global security environment continues to…

Two French nationals that were imprisoned in Iran have been released on humanitarian grounds, the spokesperson for the Iranian Foreign Ministry announced on Friday. In a statement on Friday, Nasser Kanaani confirmed reports on the release of two French citizens from prison in Iran. He said the two French citizens, one of whom has also Irish nationality, have been released by the Iranian Judiciary as a “goodwill” gesture, in a “humanitarian measure and in accordance with the relevant laws and regulations.” The spokesman explained that Iran has released the two French nationals in response to the requests that France had…

As Bitcoin experienced a bounce-back from the $25,800 support level, investors are eagerly anticipating the next move for the leading cryptocurrency. With market sentiment shifting, experts are now examining the potential price targets and forecasting Bitcoin’s trajectory in the near future. Stay tuned to discover the latest insights on Bitcoin’s price prediction and where it may be headed next. Bitcoin is trading at 26,829, increasing by 1.88% on Saturday. After declining for 8 consecutive sessions, BTC/USD prices finally started to recover losses mainly because of price correction. Fidelity Investment’s Director Highlights Bitcoin’s Impressive Rally Jurrien Timmer, the Global Macro Director of Fidelity…

Top diplomats from Iran and Saudi Arabia reaffirmed determination to mend relations between their respective countries, facilitate mutual cooperation and reopen their diplomatic missions. In a telephone conversation on Friday night, Iranian Foreign Minister Hossein Amirabdollahian and his Saudi counterpart Faisal bin Farhan Al-Saud talked about the implementation of an agreement that the two countries signed in Beijing in March to restore diplomatic relations and reopen embassies. Amirabdollahian said Iran has made the necessary arrangements for the official reopening of its embassy and consulate in Saudi Arabia, pointing to Tehran’s move to name a new ambassador and deploy technical teams…