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Economic growth in the euro zone accelerated in the third quarter, beating expectations, official figures showed on Wednesday.According to flash estimates from eurostatAccording to the European Union Statistics Office, seasonally adjusted GDP increased by 0.4% in the third quarter. In the wider area, it increased by 0.3%. By comparison, the growth rates for the two areas in the second quarter were 0.2% and 0.3%, respectively. Analysts had expected eurozone gross domestic product (GDP) growth to be close to 0.2%. Germany, the region's largest economy, saw its GDP rise by 0.2%, beating most analysts' expectations. Germany's GDP fell by 0.3% in…

PayPal's cryptocurrency holdings decreased in the third quarter.The fintech giant's Bitcoin and Ether holdings fell despite a quarter-over-quarter increase in prices.Retail interest may not have kept pace with institutional penetration.Online payment giant PayPal on Tuesday reported a decline in its cryptocurrency holdings.The amount of cryptocurrencies PayPal holds on behalf of its customers fell about 11% from the second quarter to the third quarter, to about $2.17 billion, according to a filing with the U.S. Securities and Exchange Commission.The dollar value of the company's Bitcoin holdings fell by 1% from June 30 to September 30, even as the price of the…

Major stock markets were mostly down on Wednesday, with Bitcoin trading near all-time highs as attention focused on the upcoming U.S. presidential election.Stock indexes in Paris and Frankfurt fell near midday trading as official figures showed the euro zone economy grew more than expected in the third quarter, with Germany avoiding recession.Outside the euro zone, London's stock market fell on Wednesday awaiting the new UK Labor government's first budget, which is expected to raise taxes.Asia's top indexes ended mostly lower, while the dollar was mixed against major rival markets in foreign exchange.Shares of Google's parent company Alphabet rose in after-hours…

Investors are waiting for US GDP data. Eurozone growth exceeded expectations, but German CPI fell short of target by Vicky Ge Huang Economic growth in the third quarter was higher, or even higher, depending on the forecaster. But economists agree that consumer spending drove much of the growth during this period, even though weak home sales and construction were a drag, writes Megan Leonhart in this issue. is written in. The U.S. Bureau of Economic Analysis will release its first estimate of real gross domestic product (adjusted for inflation) at 8:30 a.m. ET. Despite strong economic growth, it remains likely…

Seasoned market analyst Ali Martinez predicts that Ethereum, the second-largest cryptocurrency, will hold key support before surging past all-time highs to a new price. Even though Bitcoin is less than 2% away from reaching its goal. Best ever At around $74,000, Ethereum is still miles away from its peak price. The king of altcoins is 45.21% away from its all-time high trading price of $4,891, which it achieved in November 2021. In particular, the difference in Ethereum's performance compared to its stronger assets remains evident. As a backdrop, Bitcoin rose 13.53%; Solana While it was 14.53% in the past 30…

market wrap stock: European stocks were in the red on Wednesday as investors digested some key economic data and corporate earnings. Germany and Spain posted better-than-expected growth, but concerns remain about the eurozone's outlook in key sectors such as manufacturing. On the earnings front, Volkswagen's after-tax profit fell sharply in the third quarter, but UBS's profit exceeded expectations. Traders on Wednesday will be looking forward to the return of the UK budget and US results. US market: Stock futures rose after Alphabet's earnings beat expectations and investors took note of reports from Microsoft and Metaplatform. In addition, companies such as…

Wednesday, October 30, 2024 10:54 a.m. share facebook Share on Facebook × Share on Twitter linkedin Share on LinkedIn whatsapp Share on WhatsApp email Share by email The euro zone grew twice as fast as economists expected in the third quarter, new figures showed, as Germany managed to avoid recession. Eurozone growth accelerated to 0.4% in the July-September period from 0.2% in the second quarter, according to new “flash” figures released by Eurostat. The figures show that the French economy recovered during this period due to the impact of the Olympics, while Germany, the region's largest economy, posted a better-than-expected…

Bitcoin has reached an all-time high in euros as the latest BTC price breakout accelerates.Cointelegraph Markets Pro and TradingView data confirm that BTC/EUR reached a historic high of €67,987 on Binance on October 29th.Euro and Australian dollar hit new all-time highs for BitcoinBitcoin (BTC) quickly broke through the last resistance level this week and almost re-entered the rediscovery of the USD price.However, in Europe, the largest cryptocurrency achieved an early record thanks to changes in the strength of the dollar. After almost eight months of consolidation, BTC/EUR has broken through the ceiling set in March.“The 350 million citizens of the…

The outlook for the euro has improved due to the favorable third-quarter GDP figures for the euro zone, so the euro/yen pair is expected to rise further above 166.00. The German economy is back to growth, rising by an astonishing 0.2% in the third quarter of this year. Investors are awaiting the Bank of Japan meeting for clues about the outlook for the yen. The EUR/JPY pair is aiming for a sustainable break above 166.00 in Wednesday's European session. The cross is aiming for further gains as the outlook for the euro (EUR) has improved following a series of economic…

Written by Luc CohenNEW YORK (Reuters) – Former cryptocurrency executive Nishad Singh has accused his ex-boss Sam Bankman Fried, who is in prison for stealing about $8 billion of customer funds from the now-bankrupt FTX exchange, to implicate him. He is scheduled to be sentenced on Wednesday.Singh has pleaded guilty to six felony counts of fraud and conspiracy, and testified last year as a prosecution witness in the trial that convicted Bankman Freed on fraud and other charges. In a plea deal with prosecutors, Mr. Singh was cleared of his involvement in what has been called the largest financial fraud…