Australian shares rose for a third straight session on Monday to their highest level in more than a month, led by strength in miners and broad-based buying ahead of year-end. The S&P/ASX 200 index closed up 0.9% at 8,699.9 points, its strongest finish since November 13. “Today’s gains signal that the traditional Santa Claus rally…
Pound Sterling (GBP) is holding steady, ING’s FX analyst Chris Turner notes. Gilts remain the weak link for GBP “The enforced cabinet reshuffle by UK Prime Minister Keir Starmer on Friday did not touch Chancellor Rachel Reeves, who is valued for her market credibility. Softer US data has seen last week’s global bond market sell-off…
The Federal Reserve continued its relaxation of crypto oversight on Friday with a move to shut down a two-year-old supervisory program intended to keep a special eye on banks’ crypto ties, instead folding that task back to its day-to-day oversight work. The central bank established its short-lived Novel Activities Supervision Program during the tenure of…
A rapidly evolving bank malware now has far greater capabilities to infect Android devices and steal personal information, according to researchers. The cybersecurity firm Zimperium says the so-called DoubleTrouble trojan “has rapidly evolved in both its distribution methods and capabilities,” and is now permeating channels on the social platform Discord. “In its latest evolution, the…
It was just a brief dip below the 1.16 mark last week. Early this morning, EUR-USD is trading almost 2 cents higher around 1.1740. As our currency indices indicate (which measure the performance of currencies against the G10 average), the downward movement and now the upward movement can primarily be attributed to the USD side….
Victims of a bank data breach are set to receive up to $3,000 each after a settlement was reached in a class action lawsuit. According to the settlement administration portal, impacted customers at Arizona-based Evolve Bank & Trust who file a claim and provide documentary evidence of losses resulting from the data breach stand to…
Legendary investor Steve Eisman is warning the public about the possible emergence of a “cartel” of major banks in the US, which he says could impact the cost of financial services. The Wall Street veteran notes in a new interview with The Compound that there hasn’t been a wave of mergers and acquisitions (M&A) in…
The Federal Reserve is now facing a whopping $1.06 trillion in unrealized losses on its balance sheet. The New York Federal Reserve Bank, which handles the Fed’s bond transactions, just disclosed the losses, linking them to the central bank’s tight monetary stance. The Fed’s bonds are losing value as the bank maintains higher-for-longer interest rates…
Euro (EUR) could test the major resistance at 1.1400; a sustained rise above this level is unlikely. In the longer run, the likelihood of EUR breaking above 1.1400 is increasing; the next resistance is nearby at 1.1435, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note. A sustained rise above 1.1400 is unlikely…
Price action suggests further Euro (EUR) strength, with 1.1400 now in focus, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note. Price action suggests further EUR strength 24-HOUR VIEW: “EUR rose to 1.1362 on Wednesday and then pulled back. Yesterday, Thursday, we pointed out that ‘the pullback in overbought conditions suggests EUR is…