MicroStrategy’s CEO and Bitcoin proponent Michael Saylor is confident his firm’s BTC holdings will more than cover a potential margin call on Bitcoin-backed loans. The American business intelligence and software giant made headlines in 2021 with a number of major investments into Bitcoin. Saylor was a driving force behind MicroStrategy’s decision to convert its treasury
USDJPY is back below the 100/200 hour moving averages The USDJPY has seen up and down trading today with price action both above and below the 100/200 hour MAs in the process. The pair moved lower in the Asian session reaching a low at 1.29788. After bottoming it moved back higher leading into the European
The major US stock indices are rebounding higher after yesterday’s sharp declines. A snapshot of the major indices 12 minutes into the opening is showing: Dow industrial average up 383 points or 1.19% at 32629.33 S&P index up 55.92 points or 1.4% at 4047.15 NASDAQ index up 205.8 points or 1.77% at 11829.05 Russell 2000
NEW DELHI: Gold prices were trading flat with a positive bias on Tuesday, tracking a fall in the US treasury yields. However, a strong US dollar capped gains for the yellow metal. Benchmark 10-year US Treasury yields extended their decline on Tuesday after pulling back from the highest level in 3.5 years in the previous
Risk sentiment stabilizes today with rebound in major European stocks while US futures also point to higher open. Selloff in commodity currencies slow a bit but they remain the worst performers, led by Aussie. Yen, Euro and Dollar are the stronger ones, and they’re mixed against each other. Sterling and Swiss Franc are also consolidating
Neel Kashkari Anjali Sundaram | CNBC Minneapolis Federal Reserve President Neel Kashkari said Monday he’s confident inflation will come back to normal though it’s taking longer than he expected. Acknowledging that he was on “team transitory” in believing that surging prices wouldn’t last, he said persistent supply-demand imbalances have generated the highest inflation levels in
In this article UPST In this photo illustration an Upstart Holdings logo is seen on a smartphone screen. Pavlo Gonchar | SOPA Images | LightRocket | Getty Images Shares of Upstart plummeted about 55% premarket Tuesday after the artificial intelligence lending platform cut its full-year revenue outlook, citing rising interest rates and an uncertain economy.
Federal Reserve Bank of Richmond President Thomas Barkin said on Tuesday that once the Fed has gotten interest rates back to neutral, it can then decide whether it needs to put brakes on the economy (i.e. by further lifting interest rates into restrictive territory), depending on the level of inflation, reported Reuters. The Fed’s policy path
It’s a brutal backdrop in markets with stocks down 5 weeks including nearly 20% drop in the Nasdaq. Yet when you look at a chart like this, it looks like it could get much worse. USD/CAD has been consolidating in the 1.23-1.29 range since August but may be breaking out to the upside today. It
National Australia Bank Business Survey for April 2022 Business confidence: 10 Business conditions 20 (up well from March. Conditions is a more objective measure than the sentiment-based confidence) Some of the sub-measures sales +4 to a very high +27 profitability +10 points to +22 employment index steady at +10 NAB comments: “Pleasingly, the improvement was
NEW DELHI: Gold prices dropped marginally on Monday as a strong dollar dented the demand for the yellow metal. The rise in Treasury yields also hit sentiments. The dollar firmed to 20-year highs against its rivals, making greenback-priced bullion less attractive for other currency holders, whereas the Indian currency hit a new lifetime low at
Markets open the week with risk-off sentiment, in particular in Japan. Australian and New Zealand Dollar are trading broadly lower as a result. On the other hand, Dollar is rising broadly. European majors are mixed together with Yen and Canadian. Technically, however, bother EUR/USD and USD/JPY are still bounded in established range even though Dollar
A worker stocks items inside a grocery store in San Francisco, California, May 2, 2022. David Paul Morris | Bloomberg | Getty Images Consumers grew a little more optimistic about inflation in April, though they still expect to be spending considerably more in the year ahead, a Federal Reserve survey released Monday shows. Inflation expectations
EUR/USD remains indecisive after testing the bears of late. Mixed concerns, pullback in US Treasury yields and the DXY keep traders on their toes. Germany’s ZEW Sentiment data for May, central bankers’ comments can offer immediate directions. Wednesday’s key US inflation, speech from ECB’s Lagarde could infuse volatility. EUR/USD stays defensive around mid-1.0500s as global
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Bitstamp, one of the oldest crypto exchanges in the world, has announced the appointment of Jean-Baptiste (JB) Graftieaux as its new global CEO following the departure of Julian Sawyer. In a Monday announcement, Bitstamp said Sawyer, who first became CEO of the crypto exchange in October 2020, “has decided to pursue other opportunities.” Graftieaux took
USDCHF tested that the March 2020 high this week The USDCHF is working on its 2nd down day in 3 days. That comes after 9 straight days to the upside. The pair moved sharply lower on Wednesday on dollar selling after the FOMC rate decision and Powell’s comments that a 75 basis point hike was
Markets don’t bottom on Fridays. That’s what we’re seeing today with the S&P 500 opening down 60 points to 4058, a 1.6% drop after five consecutive weeks of losses. I’m noticing the tone around risk assets is deteriorating. The talk in the market shows that the bulls have been vanquished. There’s a realization that it