Category: Markets
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Exclusive-TikTok preparing a US copy of the app’s core algorithm, sources say By Reuters
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Written by Crystal Ho and Sheila Dang (Reuters) – TikTok is working to clone its recommendation algorithm for its 170 million American users, which could lead to a version that operates independently of its Chinese parent company and is more palatable to U.S. lawmakers who want to ban it, according…
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Dogecoin’s Famed Mascot Kabosu Dies at 18
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Kapusu, the Japanese Shiba Inu who became the face of the popular cryptocurrency Dogecoin, recently died at the age of 18. Its owner, Atsuko Sato, announced the news in an emotional blog post last Friday. Kabosu became an internet icon as the face of Dogecoin, a cryptocurrency that started as…
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JPMorgan notes easing dollar long positions in May By Investing.com
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JPMorgan highlighted the shift in currency market dynamics, noting a decline in the value of the dollar in May after a period of large long positions at the end of April. The bank’s analysis indicated that currency-only hedge funds had a more modest stance on the dollar in April compared…
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The Blackrock Bitcoin ETF (iBIT) Displaces Grayscale GBTC To Become The Market’s Largest Spot Bitcoin ETF.
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In the ever-evolving world of cryptocurrencies, there has been a shift in the ETF landscape, with the BlackRock Bitcoin ETF known as iShares Bitcoin Trust (IBIT) taking the lead. This pivotal development positions IBIT as the leading Bitcoin ETF in the US, surpassing Grayscale’s longstanding Bitcoin Trust (GBTC) and representing…
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New report shows Samsung’s Galaxy S24 Series is dominating AI smartphone market By Investing.com
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According to a report by Counterpoint Research, Samsung’s Galaxy S24 (KS:) series dominated the AI smartphone market in the first quarter of this year. The company said the latest research from its global phone model sales tracker shows that smartphones equipped with GenAI technology contributed 6% to global smartphone sales…
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Robinhood Unveils Crypto Trading API to Enhance Market Accessibility
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Robinhood introduced the Crypto Trading API, a service that enables users to craft their own trading software and use algorithms to execute trades. This offering aims to simplify trading processes and allow users to diversify their strategies, meeting the needs of experienced and new traders exploring the market. The Robinhood…
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Goldman sees Indian Rupee as defensive in EM FX carry strategy By Investing.com
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Goldman Sachs has highlighted the Indian Rupee (INR) as one of the standout currencies in the Emerging Markets Forex (EM FX) pool, due to its high carry to volatility ratio. The firm noted that the attractiveness of the Indian rupee is further enhanced when combined with short trades in Euro…
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US dollar extends decline after poor pending home sales reading
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The US dollar hit intraday lows after the worst pending home sales report in three years. The 7.7% monthly decline in April highlights the impact of rising interest rates, especially as Treasury yields rose during the month. EURUSD 10 minutes The market is struggling to figure out where the American…
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Datadog lifted to Buy at Bank of America as it establishes itself as the ‘next high quality large cap stock’ By Investing.com
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Bank of America on Thursday announced the upgrade of Datadog, Inc. (NASDAQ:) to Buy from Neutral, with an increased target price of $155, from the previous price of $143. The company cited Datadog’s strong performance and potential growth opportunities, saying it is “establishing itself as the next great quality stock.”…
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Orbs Launches Perpetual Hub for Onchain Futures with SYMMIO and IntentX
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Orbs has launched the Layer 3 Liquidity Protocol Perpetual Hub, a comprehensive on-chain perpetual futures trading solution. Before now, market-leading solutions used an order book or virtual liquidity mechanism, which lacked capital efficiency. Perpetual Hub provides a full suite of tools that enable traders to extract maximum value from on-chain…
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Daily Broad Market Recap – May 29, 2024
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The US dollar has been the biggest winner in recent trading sessions, thanks to rising bond yields and some risk-off flows. Even the somewhat gloomy Beige Book from the Fed did not appear to be enough to halt the dollar’s rise, as inflation and jobs indicators continue to show modest…
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GBPUSD Technical Analysis – The greenback came back with vengeance
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Basic overview The US dollar received support from strong US consumer confidence data which led to a strong rise in long-term Treasury yields. However, the report showed that the labor market remains resilient which is good news for growth and not necessarily bad news for inflation. The dollar also benefited…
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Amazon adds Grubhub food delivery service to Prime membership program By Investing.com
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Amazon (NASDAQ:) is improving its Prime membership perks by offering free Grubhub subscriptions to its members, a move aimed at adding more value to its $139-a-year loyalty program. Previously, Prime members got a year-long subscription to Grubhub, which included free delivery on orders over $12. The new deal, announced Thursday,…
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10 Major Banks Join Swift’s AI Initiative to Combat $485B in Fraud
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Swift has announced the launch of two artificial intelligence (AI) pilot programs in collaboration with major global banks to enhance fraud detection in cross-border payments. The initiative aims to leverage AI technology to save the industry billions in fraud-related costs and improve the efficiency of the cross-border payments ecosystem. The…
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Dollar ascendant as surging US yields spur safety bid By Reuters
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Written by Kevin Buckland TOKYO (Reuters) – The dollar rose to a two-week high against its major counterparts on Thursday, as a decline in Treasuries improved the currency’s appeal due to rising U.S. yields and demand for safe-haven assets. The dollar surged to a two-week high against the euro and…
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Chart Art: AUD/USD Reversal Chart Pattern Forming
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Is this a head and shoulders pattern on the 4-hour chart of the AUD/USD pair? Better be prepared in case the pair breaks below this neckline! How far do you think this Australian pair could fall? AUD/USD Forex 4 Hours Chart by TradingView The Australian dollar appears to be struggling…
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EUR/USD dribble under 1.0800 brings key support levels into the picture
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The daily chart is the main focus of EUR/USD at the moment: Daily chart of EUR/USD The pair is falling back below the 1.0800 level currently, with the dollar remaining in control amid higher returns this week. The latter also affects the overall risk sentiment, doubling the dollar’s advantage across…
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Google to invest $2 billion in data centre and cloud services in Malaysia By Reuters
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KUALA LUMPUR (Reuters) – Google will invest $2 billion in Malaysia to develop its first data center and Google Cloud region in the country, the unit of Alphabet Inc (Nasdaq) said on Thursday, the latest in an expansion wave for global technology companies. To Southeast Asia. The government said the…
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360T Hooks Up with Lucera for Streamlined FX Swaps Trading
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Panel discussion on “Regulation, Trust and the Future of Trade in Africa” Panel discussion on “Regulation, Trust and the Future of Trade in Africa” Panel discussion on “Regulation, Trust and the Future of Trade in Africa” Panel discussion on “Regulation, Trust and the Future of Trade in Africa” Panel discussion…