Category: Markets
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Japan’s Kanda: Excessive FX moves undesirable. Ready to take action if needed
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Kanda, Japan’s chief currency diplomat, says: Excessive forex movements are undesirable, so need to be monitored. He told the G7 that they must respond appropriately to excessive erratic foreign exchange movements. Japan is ready to take appropriate action in the event of excessive movements in the foreign exchange market I…
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Elon Musk plans xAI supercomputer, The Information reports By Reuters
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(Reuters) – U.S. entrepreneur Elon Musk recently told investors that his artificial intelligence startup xAI plans to build a supercomputer to run the next version of its chatbot Grok, The Information newspaper reported on Saturday, citing an investor presentation. Musk said he wants the proposed supercomputer up and running by…
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Hong Kong Eyes Ether ETF Staking to Outpace US
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Hong Kong is considering allowing exchange-traded funds (ETFs) to invest directly in ether. Hong Kong’s Securities and Futures Commission (SFC) is engaging the city’s cryptocurrency ETF issuers on offering staking services through licensed platforms, the Business Times reported. Passive encoder input This potential regulatory change could open up a new…
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Crude oil futures trade to new session highs
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Crude oil futures are trading between the 100 and 200 week moving averages Crude oil futures are trading up about $1 on the day at $77.85 (up 1.25%). Today’s low extended to $76.18. This was the lowest level dating back to February 26th. This week, the price is currently down…
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BlackRock pushed Anglo to extend talks with BHP, FT reports By Reuters
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(Reuters) – Anglo American has come under pressure from major shareholders including BlackRock (NYSE:) to extend talks with BHP Group (NYSE:) over a proposed £38.6 billion (49.18 billion) mining merger, the Financial Times reported on Saturday. Billion dollar). BHP, the world’s largest listed mining group, has until May 29 to…
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OKX HK Discontinues License Application in Hong Kong, Asks Users to Withdraw Funds
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OKX has withdrawn its license application to provide virtual asset services in Hong Kong and plans to discontinue centralized virtual asset trading services for users in the region. In a statement on its website, the cryptocurrency exchange said it has withdrawn its VASP license application and will cease centralized virtual…
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ECB’s Panetta adds to the chorus for a June a rate cut – “general consensus has emerged”
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As Governor of the Bank of Italy, Fabio Panetta is also a member of the Governing Council of the European Central Bank. On Saturday, he spoke at a press conference at the end of the G7 finance leaders’ meeting, saying he saw “a fairly general consensus emerging about the possibility…
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US screens record 2.95 million airline passengers in single day By Reuters
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Written by David Shepardson WASHINGTON (Reuters) – The U.S. Transportation Security Administration said it screened 2.95 million air passengers on Friday, the highest number ever in a single day. Record travel coincides with Memorial Day weekend which marks the start of the summer travel season in the United States. Last…
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US screens record 2.95 million airline passengers in single day By Reuters
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Written by David Shepardson WASHINGTON (Reuters) – The U.S. Transportation Security Administration said it screened 2.95 million air passengers on Friday, the highest number ever in a single day. Record travel coincides with Memorial Day weekend which marks the start of the summer travel season in the United States. Last…
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Singaporean Woman Sentenced in £3B Bitcoin Fraud Case
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A London court has sentenced a Singaporean woman, Wen Jian, to six years and eight months in prison for her role in laundering Bitcoin (BTC) linked to a stunning $6.4 billion Chinese scam. The case, which involved the seizure of more than 61,000 bitcoins by UK police, has highlighted the…
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US asset prices are rising despite falling money supply By Investing.com
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Gavical Research experts highlighted the unusual trend of rising US asset prices despite the contraction of the money supply, which is a deviation from the typical correlation where excessive growth in the money supply leads to an increase in asset prices. While the traditional link showed signs of weakness, US…
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Mastercard Fights Back on Scams and Fraud
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Mastercard’s recent moves paint a fascinating picture of the current state of digital trust. On the one hand, They are joining forces with the United Nations Development Programme (UNDP) to address the global epidemic of digital fraud. On the other hand, They use advanced artificial intelligence To thwart the ever-present…
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A strong first 100 days suggests a strong rest of the year for the S&P 500 By Investing.com
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A strong first 100 days for the S&P 500 set the stage for the rest of the bull year, analysts at Bank of America Securities said in a note Friday. According to the bank’s research, when the S&P 500 rises 10%+ in the first 100 days, the rest of the…
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BIS and The Intricacies of Regional Payment Infrastructure Integration
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As digital sensors spread across continents, the need for seamless cross-border transactions has become paramount. This is where the integration of regional payments infrastructure comes into play, with the aim of establishing connections between the financial arteries of different countries. But, like any ambitious project, this integration effort comes with…
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Figure Markets, Pantera Snap Up Final Pieces of FTX’s Solana (SOL) Stash: Report
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Bankrupt cryptocurrency exchange FTX has finished selling $2.6 billion worth of discounted Solana tokens. Figure Markets and Pantera Capital were among the buyers who secured the final troves of SOL tokens from FTX after weeks of auctions. The results of the auction were revealed by two undisclosed sources, according to…
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Sterling holds steady amid UK election announcement By Investing.com
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Investing.com – On Tuesday, UK Prime Minister Rishi Sunak surprised political observers by announcing that the UK general election would be held on July 4, a deviation from the widely expected fall schedule. Despite this unexpected development, the British pound saw little impact, with two-month implied volatility showing a modest…
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Sterling holds steady amid UK election announcement By Investing.com
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Investing.com – On Tuesday, UK Prime Minister Rishi Sunak surprised political observers by announcing that the UK general election would be held on July 4, a deviation from the widely expected fall schedule. Despite this unexpected development, the British pound saw little impact, with two-month implied volatility showing a modest…
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Forexlive Americas FX news wrap 24 May; USD moves higher. Nasdaq &S&P gain for 5th week
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As the week comes to a close, the Canadian dollar ends the day as the strongest among the major currencies. The Swiss franc is the weakest. The US dollar was mostly lower with modest gains against the Japanese yen and Swiss franc. The Canadian dollar rose despite lower-than-expected retail sales…
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Brazil’s Petrobras approves Chambriard as new CEO By Reuters
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SAO PAULO/RIO DE JANEIRO (Reuters) – Brazilian state oil company Petrobras said its board of directors on Friday approved the nomination of Magda Chamberillard as the company’s new chief executive following the surprise announcement last week. Chamberyard, a four-decade industry veteran, has already taken up her new position, Petrobras said…
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Do Kwon’s Extradition Case Sent Back to High Court after Appeal: Report
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The decision to extradite Do Kwon to the United States or South Korea has been returned to the Supreme Court after the Montenegrin Court of Appeal approved an appeal by the Terraform Labs co-founder and his lawyers. Montenegro’s Vijesti news website reported today (Friday) that the country’s Court of Appeal…