“As part of the settlement, CZ cannot be involved in the day-to-day running of the company’s operations,” Richard Teng explains. Despite that, the incumbent CEO of Binance cuts the figure of a man reveling in the challenges ahead. Speaking to Cointelegraph just two weeks after taking over from outgoing CEO Changpeng ‘CZ’ Zhao, Teng seems
Month: December 2023
Share: EUR/GBP was seen at 0.856 with a downside movement of 0.70%, it lowest since early September. In the daily and 4-hour chart, indicators hit oversold conditions after a seven-day losing streak. The cross will also close a 1.40% weekly loss. In Friday’s session, the EUR/GBP pair was seen at 0.8560 after a downward rally
UPCOMING EVENTS: Monday: Switzerland CPI. Tuesday: Tokyo CPI, China Caixin Services PMI, RBA Policy Decision, Eurozone PPI, Canada Services PMI, US ISM Services PMI, US Job Openings. Wednesday: Australia GDP, Eurozone Retail Sales, US ADP, BoC Policy Decision. Thursday: China Trade data, Switzerland Unemployment Rate, US Challenger Job Cuts, US Jobless Claims. Friday: Japan Wage
Domestic gold surged to a fresh all-time high as the most active MCX near-month futures boomed to Rs 63350 per ten grams last week. Firm overseas prices, weak Indian rupee and expectations of an increase in jewelry demand and peak wedding season propelled the sentiment towards the metal. The Indian trade body is expecting business
Share: The DXY Index is seen with losses around 103.15, after reaching a high of 103.70, above the 200-day SMA. Fed Chair Powell warned that the bank will hike again if needed, keeping its data-dependency approach. The US ISM Manufacturing PMI declined in November, as expected. Next week, the US will release November’s Nonfarm Payrolls
The NZDUSD moved lower with the USDs run higher, but has snapped back higher after testing the high of a swing area going back to the end of July/early August between 0.6104 and 0.6117 (see red numbered circles on the chart below). The low price reached 0.6118 and bounced back higher. We are currently trading
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
The week ending December 1 was marked by speeches of two important Federal Reserve officials – Waller, the Federal Reserve Governor and Powell, the Federal Reserve’s Chair. Financial markets construed the much awaited Powell‘s speech Friday as decisively dovish as he did not seem to push hard against the markets’ expectations of hefty rate cuts
Financial markets were dominated by themes of cooling inflation, a slowing economy, and increasing expectations of policy easing by both ECB and Fed last week. This convergence of factors ignited a full risk-on mode among investors, propelling major US stock indexes and Germany’s DAX to sharp gains. In tandem, benchmark treasury yields in both Europe
According to United States cybersecurity firm Recorded Future, North Korean hackers have stolen around $3 billion in cryptocurrency since 2017, with more than half of that amount stolen in the past year alone. Recorded Future indicated in a recent report that the amount of stolen crypto equates to approximately half of North Korea’s entire military expenses for
Share: Mexican Peso finished November with gains of more than 3.60% and began December in a positive tone. Mexico and US interest rate differential favors the Peso, as Fed officials have shifted dovish. Fed Chairman Powell acknowledges a decrease in inflation but stresses the need for more evidence to achieve the 2% target. Mexican Peso
The NASDAQ is on pace for its 2nd consecutive day to the downside. The price has been down 4 of the last 5 trading days. That sounds ominous, but the price is only down -0.85% over that period – with today’s decline of -0.78% the bulk of the decline. Also for the month, the index
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
In the wake of an all-time high in gold prices post the festive season, investors are closely scrutinising past trends for insights into the potential duration of this rally and the likelihood of a corrective phase in the near future. Historically, gold has exhibited a characteristic pattern of correction, typically around 10%, following a robust
Share: The NZD/USD gains three-quarters of a percent on Friday to etch in a seventh straight gain. The Kiwi is up 2% against the US Dollar heading into the tail end of Friday’s trading session. Thin Kiwi data next week gives way to another bout of US NFP data next Friday. The NZD/USD is continuing
In today’s trading, the USDJPY experienced a notable rebound, with its key technical targets positioned above, including the 200-hour moving average at 148.45, a swing area between 148.44 and 148.59, and the 38.2% Fibonacci retracement of the decline from the November 13 high at 148.665. The pair briefly surpassed the 200-hour moving average, reaching a
Markets: S&P 500 up 27 points, or 0.6%, to 4603 Gold up $35 to $2071 WTI crude oil down $1.70 to $74.26 US 10-year yields down 13.3 bps to 4.56% AUD leads, EUR lags Welcome to the new month, same as the old month. The mood was to buy everything and sell oil, same as
Oil prices were stable on Friday following a 2% drop on Thursday, with the market unconvinced that the latest round of OPEC+ production cuts will be able to lift prices out of their recent slump. Brent crude futures for February rose by 16 cents, or 0.2%, to $81.02 a barrel by 1520 GMT on their