Category: Markets
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AI Enters the Fight Against A2A Scams
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For many years, science fiction has painted an apocalyptic picture of artificial intelligence: cold calculators bent on subjugating humans. But in the world of finance, a different kind of artificial intelligence is emerging – one designed not to steal your money, but to protect it. Visa’s recent pilot with Pay.UK…
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USD/CAD expected to weakned into year end By Investing.com
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UBS analysts highlighted the possibility of the Bank of Canada (BoC) implementing an interest rate cut ahead of the US Federal Reserve, amid fears of an economic slowdown. The Canadian dollar (CAD) is expected to face modest inflationary pressures as a result. UBS expects the Bank of Canada to make…
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EURUSD sellers push the pair down to the 100/200 hour converged MAs. Stalls the fall.
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EUR/USD rose yesterday until it reached its 100 and 200 hour moving averages. Sellers took hold of this level and pushed the price lower during the Asian session as buyers came in support against its 100-day moving average (blue line at 1.08074). The price then started to move to the…
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Ulta Beauty reports growth and updates full-year outlook By Investing.com
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Ulta Beauty, Inc. (NASDAQ:) reported a 3.5% increase in net sales reaching $2.7 billion in the first quarter of 2024, with comparable sales growing by 1.6%. Despite a challenging environment, the company showed resilience with an operating profit of 14.7% of sales and a diluted earnings per share (EPS) of…
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Tether Throws Hat in Ring with $100 Million Bitdeer Investment
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Stablecoin issuer Tether Holdings has acquired a significant stake in Bitdeer Technologies Group, a US-listed bitcoin mining company owned by Chinese billionaire Jihan Wu. This acquisition includes an investment of US$100 million, with an option to purchase additional shares worth US$50 million over the next year. Investment facilitates the expansion…
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UBS sees NZD/USD on shaky ground amid economic headwinds By Investing.com
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UBS has expressed caution regarding the New Zealand dollar (NZD), citing a challenging economic outlook and the potential for underperformance against other major currencies. The pair has traded within a range of 0.59 to 0.62 recently, with relatively high interest rates in New Zealand providing some support despite the weakness…
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Daily Broad Market Recap – May 30, 2024
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Revised US economic growth data sent the US dollar and other major financial assets all over the charts yesterday! What exactly do market players need? We have a list of yesterday’s most important headlines: Titles: Rafael Bostic, a voting member of the Federal Open Market Committee, expects the Fed to…
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US core PCE for April 0.2% vs 0.3% estimate
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Primary personal computer in the United States Previous month 0.3% Monthly core personal consumption expenditures came in at 0.2% versus estimates of 0.3%. YoY core PCE rate of 2.8% versus estimates of 2.8%. Last month 2.8%. Monthly PCE growth of 0.3% vs. 0.3% estimate. Last month 0.3%. PCE YoY 2.7%…
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Top proxy adviser ISS recommends against Tesla CEO Musk’s ‘excessive’ $56 billion pay By Reuters
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Written by Ross Kerber (Reuters) – Top proxy advisory firm ISS recommended that Tesla (NASDAQ:) shareholders vote against ratifying CEO Elon Musk’s $56 billion pay package, calling the compensation excessive and rejecting the plan drawn up by the electric car maker’s board. In a report sent by a representative late…
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CARV Brings on Animoca Brands as Strategic Investor and Node Operator
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CARV, the largest standardized data layer for gaming and AI, today announced a strategic investment from Animoca Brands, a company developing digital property rights for games and open meta. Additionally, Animoca Brands will become the operator of CARV’s Level 6 Verification Nodes to support CARV’s decentralization of its data layer.…
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Dollar rebounds ahead of PCE release; euro slips after German retail sales By Investing.com
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Investing.com – The US dollar rose slightly in early European trade on Friday, rebounding from the previous session’s losses ahead of key inflation data, which could push future interest rate expectations. At 04:30 EST (08:30 GMT), the dollar index, which tracks the greenback against a basket of six other currencies,…
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Chart Art: USD/CHF’s Potential Support at .9000
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I see with my own eyes a potential support area for USD/CHF! In case you missed it, the pair recently fell after mid-level US economic data supporting a Federal Reserve rate hike as soon as this year. Of course, it didn’t hurt the Swiss franc that Switzerland also dropped a…
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Japan stocks higher at close of trade; Nikkei 225 up 1.27% By Investing.com
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Investing.com – Japanese stocks rose after the close on Friday, as gains in the stock sector led shares higher. At the close in Tokyo, the index rose by 1.27%. Among today’s leading stocks was Sumitomo Dainippon Pharma (TYO:), which rose 6.64%, or 19.00 points, to trade at 305.00 at the…
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Public Teams Up with CLEAR to Simplify Identity Verification for Investors
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CLEAR and Public, an investment platform offering a range of investment options, have jointly announced a new partnership. This collaboration aims to provide members with the option to quickly and securely verify their identity with CLEAR when opening an investment account on the public platform. Improve investor identity verification Combining…
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Asia FX weakens as China PMIs disappoint; Dollar steady before PCE data By Investing.com
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Investing.com — Most Asian currencies fell on Friday, with China’s yuan heading back towards six-month lows after disappointing business activity readings, while the dollar steadied in anticipation of key inflation data. Regional currencies also remained under pressure amid lingering concerns about US interest rates rising for longer, as hawkish comments…
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U.S. Q1 GDP Revised Lower, GDP Prices and Jobless Claims Disappointed
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US economic growth for the first quarter of 2024 was revised down in the second estimate, with annual GDP now at just 1.3% when markets expected it to maintain its initial reading of 1.6%. According to the Bureau of Economic Analysis, the downward revision “It primarily reflects a downward revision…
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US inflation (PCE) data due Friday – here are the critical ranges to watch
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Core PCE data is scheduled to come into focus on Friday, May 31, 2024 at 0830 US EST. You can see the average estimates below in the table. The ranges of estimates (why they are important are explained below) are: Core personal consumption expenditures on an annual basis from 2.7%…
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US futures fall further amid rate jitters; PCE test approaches By Investing.com
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Investing.com — U.S. stock index futures fell in overnight trading Thursday, extending losses as fears of higher interest rates and slowing growth led to a two-day rout on Wall Street, with focus now turning to key personal consumption expenditures data for more signals about… Inflation. . Investors were also on…
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SEC, Terraform Labs, and Do Kwon Reach Agreement in Civil Fraud Case: Report
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Terraform Labs and its founder, Do Kwon, have reached a settlement with the US Securities and Exchange Commission (SEC) following fraud allegations surrounding the collapse of the TerraUSD stablecoin, Reuters reports. The agreement, which was disclosed on the court’s website, was reached after a jury found Kwon and Terraform Labs…
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Dollar rebounds as equities dip, eyes on Treasury auctions By Investing.com
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Investing.com – On Wednesday, the DXY index rose past the 105 mark. This move sparked debates among market watchers about whether this signifies the beginning of a new upward trend or is merely a continuation of range trading amid a period of low volatility. The recent pattern of weak results…