ZURICH (Reuters) – UBS reported on Wednesday a net profit of $1.14 billion for the April-June period, the first results since the completion of the bank’s formal legal merger with its one-time rival Credit Suisse. The net profit attributable to shareholders for Switzerland’s largest bank compared with the $528 million forecast by analysts in a…
Hong Kong could be set to introduce enhanced digital asset regulations within the next 18 months, according to a Legislative Council member. The move would be part of the jurisdiction’s push to become a global hub for financial technology. “The digital asset industry has made significant progress in the past few years, but we are…
Many aspiring traders face the harsh truth that a large number lose money. Emotional decisions, lacking skills, and trusting luck over research are big reasons. It’s key to know how many traders lose money before diving into the financial markets. Looking at traders’ money loss rates shows trading success isn’t easy or quick. It’s tough…
Investing.com– Most Asian currencies firmed on Wednesday, while the dollar dropped after a soft U.S. producer inflation reading pushed up hopes that similar easing in consumer inflation will spur deeper interest rate cuts. The New Zealand dollar was an exception, logging steep losses after the Reserve Bank of New Zealand unexpectedly cut interest rates and…
The USD/CAD pair has experienced a significant decline, dropping sharply from 1.3946 to as low as 1.3703. This movement raises important questions about the pair’s future direction and potential trading opportunities. Current Market Dynamics As long as the price remains below the falling trend line on the 4-hour chart, we can expect the downtrend to…
Reserve Bank of New Zealand Orr: confident inflation back in its target band can commence re-normalising rates we considered a range of moves and consensus was for 25bps Earlier, read from the bottom up for the chronology: Market pricing is for an Reserve Bank of New Zealand rate cut at its next meeting too ICYMI…
Indicators GMI: 1/6 GMI-2: 5/9 T2108: 44% QQQ still closed (dotted line) below all blue averages. The next few days should tell us whether an up-trend materializes or the decline resumes. Screenshot The post Blog Post: Day 18 of $QQQ short term down-trend; $QQQ still in a BWR daily down-trend, see chart. first appeared on…
The Reserve Bank of New Zealand (RBNZ) lowered the Official Cash Rate (OCR) by 25 basis points (bps) from 5.50% to 5.25%, following the conclusion of the August policy meeting on Wednesday. The market participants anticipated a rates on-hold decision. Summary of the RBNZ Monetary Policy Statement (MPS) Inflation is declining. Inflation returing into target…
Cooler producer price pressure in the U.S. fueled Fed rate cut speculations and inspired risk-taking in the markets. How did your favorite assets trade on Tuesday? Let’s look at the major headlines that took the spotlight: Headlines: Westpac: Australia consumer sentiment index improved from 82.7 to 85.0 in August on easing concerns of further RBA…
Coinbase, the largest public crypto exchange in the US, has re-entered the Hawaiian market after a seven-year absence. In its official statement, Coinbase noted that the recent regulatory reforms in Hawaii drive this move. Coinbase Joins Robinhood in Hawaii’s Crypto Scene With Coinbase’s re-entry, Hawaii residents can now participate more actively in the digital economy….