FX Weekly Recap: May 27 – 31, 2024
CHF was the one currency to rule them all thanks to positive developments from Switzerland & broad risk-off vibes from geopolitical catalysts & shifting sentiment on economic activity ahead. Source link
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Bybit Confirms Executive Changes After Notcoin Launch Issues – CryptoCurrencyNews
Cryptocurrency exchange Bybit has confirmed reports of an executive reshuffle following complications with the Notcoin launch, which led to $23 million in compensation being distributed to 320,000 users. The news, initially reported by Wu Blockchain, indicated that several executives had “voluntarily resigned” and that Bybit had hired new technical and spot managers. A Bybit spokesperson…
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Canadian Dollar recovers on Friday despite Canadian GDP miss
Broad-market risk appetite recovers on Friday as US PCE inflation eases. Canada saw a weaker-than-expected rebound in GDP. US PCE inflation cooled further, fueling rate cut hopes. The Canadian Dollar (CAD) is broadly higher on Friday, but gains are capped after softer-than-expected prints in Canadian economic data. Investor hopes for a September rate cut are…
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Forexlive Americas FX news wrap 31 May: US PCE doesn’t scare. Yields lower. US down and up | Forexlive
The big event of the week was the US core PCE data. The core PCE is the Fed’s favored measure of inflation. Expectations were for 0.3% increase. The actual increase rounded to 0.2% for the core measure. In reality, the unrounded number was 0.249% just under the number needed to round to 0.2%. As a…
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Dow Jones rebounds after a loss-heavy week, rallies hard into Friday close
Dow Jones rebounds from lows near 38,000.00 after heavy backslide. Market sentiment recovering as rate cut hopes rise once again. US PCE Price Index inflation cools faster than expected. The Dow Jones Industrial Average (DJIA) rebounded nearly 580 points on Friday as investor sentiment turned higher after US Personal Consumption Expenditures (PCE) Price Index inflation eased…
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Prop Trading: Three Months After Suspending US Services Alpha Capital Promises Comeback
The proprietary trading firm Alpha Capital Group plans to return to the US after suspending purchases for clients in the region back in February. In a post on X, the company mentioned that it was planning to launch futures and a regulated brokerage platform for deposits in Seychelles in June. “June will be a major…
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Global Market Weekly Recap: May 27 – 31, 2024
Market players had a lot to digest during a shortened trading week, starting off with property sector updates in China and heightened geopolitical tensions in the Middle East, then on to more Fed speak, and finally the latest inflation read from the Federal Reserve’s preferred tool. What happened and how did your favorite asset…
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NZDUSD Experiences Temporary Halt in Anticipation of Reversal
Market Analysis: Price Retraces to a Fair Value Gap In late December 2023, NZDUSD commenced a notable bearish trend, leaving behind a significant high. This downtrend was characterized by the formation of lower lows, which indicates sustained selling pressure. As the pair approached the 0.58620 level, however, the bearish momentum began to wane, culminating in…
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Terraform Labs and Do Kwon Settle with SEC Over TerraUSD Collapse
Terraform Labs and its founder, Do Kwon, have reached a tentative settlement with the U.S. Securities and Exchange Commission (SEC). The SEC accused them of misleading cryptocurrency investors before the collapse of the stablecoin TerraUSD in 2022. Do Kwon Agree to Settle SEC Civil Fraud Case The settlement details remain undisclosed. In April, a jury…
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Hamas says they view US Pres. Biden’s proposal for a cease-fire as positive | Forexlive
Views US Pres. Biden’s latest proposal for a cease-fire as a positive statement Affirms its readiness to deal positively with any proposal that offers a permanent cease-fire, complete withdrawal of Israel forces from Gaza, restructuring of the strip, return of displaced and a serious prisoner hostage exchange Israel does not want to go that far…
