Category: Markets
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Tornado Cash Developer Fails to Mix Himself Out of 64-Month Prison Sentence
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The Oost-Brabant District Court in the Netherlands has sentenced Alexei Burtsev, co-developer of popular cryptocurrency mixing tool Tornado Cash, to 64 months in prison for his role in creating and maintaining the platform. The court alleges that Tornado Cash enables “criminal activity and terrorism” by concealing the origin, destination and…
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Visa Partners with Worldline on Virtual Card Solution for Travel Agencies
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Fmas: 24 | catch a glance Fmas: 24 | catch a glance Fmas: 24 | catch a glance Vmas: 24 | catch a glance Vmas: 24 | catch a glance Fmas: 24 | catch a glance Here’s a sneak peek at FMAS:24’s vibrant atmosphere! Join us at Africa’s premier financial…
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TD preview the US CPI report due Wednesday
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We review US CPI data scheduled for release on Wednesday. The headline is likely to be +0.3% m/m despite another notable rise in energy prices We expect core inflation to slow to a “soft” pace of 0.3% m/m after recording a third consecutive strong gain of 0.4% in March. Unrounded…
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Daily Broad Market Recap – May 14, 2024
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The markets were off to another quiet start, but this turned out to be the calm before the US PPI storm. Crude oil rose one day into the red while gold and US stocks advanced. Treasury yields and the dollar also closed lower. Read on to find out how it…
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TSS highlights substantial growth in Q1 2024 By Investing.com
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Technology Solutions Specialists (TSS) reported a significant increase in financial performance for the first quarter of 2024. The company’s revenue soared to $15.9 million, up from $6.6 million in the corresponding quarter of the previous year. This improvement is primarily attributed to heightened demand in the procurement business and the…
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US CPI due Wednesday. Here are the ranges of estimates (& why they’re crucial to know).
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US consumer inflation data is scheduled to be released at 1230 GMT, which is 0830 EST. Previous previews: *** Well, what do you expect? This snapshot is from the ForexLive economic data calendar, Access it here. Take a look at the forecast range compared to the consensus average (“expected” in…
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Sony shares rally 10% as $1.6 bln buyback offsets weak earnings By Investing.com
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Investing.com — Japanese stocks of electronics group Sony Shares of Corp (TYO:) rose sharply on Wednesday after it announced a massive stock buyback and stock split, offsetting weak annual earnings and middling guidance. Sony shares jumped 10% to 13,170.0 yen, the highest level in nearly two months. The stock was…
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Forexlive Americas FX news wrap: PPI offers up a headfake
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US Producer Price Index for April +2.2% y/y vs. +2.2% expected Powell: The labor market is as tight as it was before the pandemic in 2019 US credit card balances rose 13.1% year over year in the first quarter Winch from the European Central Bank: Higher interest rates for a…
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BofA expects Apple ‘to be a net beneficiary of AI at the edge’ By Investing.com
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OpenAI, the maker of ChatGPT, held a “Spring Update” event on Monday, where it announced a new desktop app, updated web UI, and the launch of its most advanced model, GPT-4o. The demo showed how high-end devices, ranging from Macs and iPhones, can benefit from AI. By integrating voice, text…
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Standard Chartered Partners with Clearstream to Support UAE Domiciled Funds
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Vmas: 24 | catch a glance Vmas: 24 | catch a glance Vmas: 24 | catch a glance Vmas: 24 | catch a glance Vmas: 24 | catch a glance Vmas: 24 | catch a glance Here’s a sneak peek at FMAS:24’s vibrant atmosphere! Join us at Africa’s premier financial…
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EUR/USD on verge of bullish breakout
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Investing.com – The foreign exchange market appears to be turning bearish relative to the US dollar, according to Bank of America Securities, suggesting that the EUR/USD pair is on the verge of an upward breakout. Over the past week, option biases have moved widely for US dollar put options, as…
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France’s CAC closes at a new record level.
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Major European stock indices closed mostly higher. The only exception is the German DAX index. France’s CAC rose 0.20% which was good enough for a new record close. Britain’s FTSE 100 index closed higher but fell short of the record high it reached on Friday at 8,433.75. It closed at…
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BuzzFeed reports Q1 revenue decline, eyes AI for growth By Investing.com
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BuzzFeed Inc. (BZFD) has disclosed its financial results for the first quarter of 2024, revealing a revenue decrease of 18% year-over-year to $44.8 million. Despite the overall downturn, the company has seen a rise in programmatic advertising revenues and is focusing on artificial intelligence (AI) to enhance audience engagement and…
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Finastra Takes the Lead in ISO 20022 Compliance
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The financial industry, famous for its slow pace of change, is about to see a bit of volatility. There’s no need for hats or sticks, but rather a coordinated shift toward a new standard: ISO 20022. This seemingly innocuous alphabetical mash-up has the potential to revolutionize the way financial institutions…
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Dollar not receiving usually seasonal boost in May
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Investing.com – The US dollar usually has a good month in May, according to UBS analysis, but this year appears to be different. “May has been a historically positive month for the dollar: our seasonal indicator suggests that US dollar supply typically rises in late April and peaks around mid-May,…
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The PPI report is a lesson in how algos and real people operate in markets
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Occasionally, real people can still obtain outstanding trading economic data. The PPI movement was almost completely reversed but it took 9 minutes, which is a long time in markets terms. What happened was that the algae vomited on the headline with a reading of +0.5% compared to +0.2%. The loss…
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Crypto Exchange Spot Volumes Plunge 60% Post BTC Halving
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After a record-breaking March driven by Bitcoin’s (BTC) equally impressive performance, spot trading volumes at the 10 largest cryptocurrency exchanges fell by more than 60% in April. According to a benchmark released by Finance Magnates Intelligence, its trading volume fell from $2.1 trillion in March to just under $1.3 trillion…
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Dollar steady ahead of inflation data; sterling slips after job numbers By Investing.com
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Investing.com – The US dollar was flat on Tuesday, largely flat ahead of key inflation data likely to weigh on interest rate expectations. At 03:30 EST (08:30 GMT), the dollar index, which tracks the greenback against a basket of six other currencies, rose 0.1% to 105.250, in range-bound trading. Dollar…
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Chart Art: Descending Triangle Pattern on Gold (XAU/USD)
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Gold forms lower highs and finds support at $2,300, forming a descending triangle pattern on the 4-hour chart. Is he about to go back to the bottom soon? Take a look at the inflection points I’m seeing: Gold (XAU/USD) 1 hour Chart by TradingView Gold traders appear to be playing…