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Bitcoin payment app Strike announced that it has obtained a BitLicense from the New York State Department of Financial Services, allowing it to conduct crypto service business locally. Strike has also launched a bitcoin-backed credit line service, enabling users to borrow fiat currency in real time for Lightning payments or bill payments. Initially, this service will be available in Georgia and Massachusetts, with plans to expand to more states across the United States in the future.

(1) Kenanga economists noted in a report that the Malaysian ringgit may trade in the range of 3.94-3.98 ringgit per US dollar in the near term, until the outlook for the duration of the Middle East conflict becomes clearer. Currently, the US dollar is quoted at 3.9485 ringgit, up 0.1%. (2) The report stated that it may be too early to expect a rapid de-escalation of the Middle East situation, and the market remains highly focused on crude oil price trends and their potential impact on US inflation and Federal Reserve policy. (3) Economists further pointed out that although Malaysia may gain short-term benefits from rising oil prices, the ringgit no longer trades like a traditional oil-linked currency, but rather tends to fluctuate as a high-beta emerging market currency. (4) On the technical side, Kenanga expects the US dollar to face resistance at 3.956 ringgit and find support at 3.934 ringgit against the ringgit in the short term.

Golden Ten Data, March 6 – As Middle East conflicts intensify, disrupting regional transportation and impacting the spot market, aluminum prices are set to record their largest weekly gain since September 2024. London Metal Exchange (LME) aluminum prices rose on Friday, with a cumulative weekly increase of over 5%, pushing the benchmark contract to its highest level since 2022. The US-Israel war against Iran, now in its seventh day, is transmitting shocks to the global aluminum industry. End users and traders are preparing for the possibility of prolonged disruptions to shipments through the Strait of Hormuz, which is currently effectively closed to shipping. Smelters in the Persian Gulf region, including Aluminium Bahrain BSC and Qatar Aluminium Ltd, both reported delivery and production disruptions this week.