AUD/USD licks its wounds above 0.6700 as key PMI data, Aussie Q4 GDP loom
The AUD/USD pair is trading around 0.6735 in the initial Asian session on Monday, as bears take a breather around the lowest levels since early January following a two-week downtrend. The Aussie pair traders seem to brace for this week’s key data amid a lack of major directives. The strong US data, hawkish Federal Reserve […]
‘Immeasurable’ Damage Done to Crypto by SBF: Ava Labs CEO
The implosion of FTX last fall dealt crypto a black eye, bruising the nascent industry’s reputation in terms of legitimacy and trust. And according to Ava Labs CEO and Founder Emin Gün Sirer, the damage that Sam Bankman-Fried caused is “immeasurable”. “All of that goodwill that we built over many, many years of hard work […]
EU states have backed new sanctions on Russia
On Friday, Western countries imposed a new round of sanctions on Russia in an effort to show a unified front on the one-year anniversary of Vladimir Putin’s invasion of Ukraine. The United States and the United Kingdom both imposed sanctions in solidarity with Kyiv, and the European Union states backed the sanctions after a dispute […]
Terra Classic (LUNC) Binance Burn To Mark Big Week Ahead?
The Terra Classic LUNC community has been preparing for a potential rally in the days ahead, following the passing of proposals on Binance burn. Binance had earlier made feature requests for the burn starting from March 1, 2023. The Binance LUNC burning would help the community’s cause to reduce the cryptocurrency’s supply and potentially boost […]
The Fed will need to step up the game, peak rates not even in sight yet – Nordea
The global economy is showing remarkable resilience despite the numerous challenges posed by the coronavirus pandemic, and this has led economists to believe that central banks still have a lot of work to do. According to a recent report from Nordea, the risks remain tilted toward this hiking cycle continuing for considerably longer. The report […]
S&P 500 snaps 4-day losing streak as stocks gain in choppy session
The stock market snapped a four-day losing streak on Thursday as stocks ended higher after a choppy trading session. Investors were weighing the path for Federal Reserve rate hikes, as expectations grow that the central bank will keep interest rates elevated for an extended period in order to bring down inflation in the face of […]
Wage inflation too high to be consistent with timely return to 2% inflation
The Federal Reserve Governor Philip Jefferson stated on Friday that wage growth in the United States is running too high to be consistent with a timely and sustainable return to the Federal Reserve’s 2% inflation objective. He further added that the Fed is addressing inflation promptly and forcefully to maintain its credibility and preserve the […]
South Africa Added to FATF ‘Grey List’ Despite Designation of Crypto as a Financial Product
In a major setback for South Africa, the international financial watchdog, the Financial Action Task Force (FATF), announced on Feb. 24 that it had added the country to its “grey list.” The grey list is a group of countries that are “committed to resolving swiftly the identified strategic deficiencies within agreed timeframes.” The inclusion of […]
Autodesk stock slumps as outlook overshadows earnings beat
Autodesk Inc. (ADSK) shares declined in the extended session Thursday after the enterprise software company’s outlook overshadowed its earnings beat. Autodesk shares fell as much as 6% after hours, following a 2.1% rise in the regular session to close at $221.16. The company reported fourth-quarter net income of $293 million, or $1.35 a share, compared […]
Intuit fiscal Q2 tops views, company announces new CFO
Intuit Inc. (INTU), a financial technology company, released their financial results for the second quarter of the fiscal year on Thursday night, beating Wall Street expectations and announcing the retirement of their Chief Financial Officer (CFO). Intuit reported a net income of $168 million, or 60 cents per share, for the quarter, compared to $100 […]