Brazil Inflation Index/IGP-M came in at -0.06%, below expectations (0.05%) in February
Brazil’s Inflation Index/IGP-M came in at -0.06% in February, lower than expected. This figure was below the 0.05% forecasted by economists and financial experts. The IGP-M is a price index used to monitor inflation in Brazil. It measures the cost of goods and services in the country and is used to determine changes in the […]
H&M shares climb after retailer double-upgraded by Bank of America
Shares of H&M (HM.B) rose 4% to 129.96 kroner on the day after Bank of America double-upgraded the retailer to buy from underperform and lifted its price target to 165 kroner from 90 kroner. This was a result of the bank’s belief that earnings are not only bottoming, but are about to rebound faster and […]
ChatGPT: New AI tech, old racism and bias?
Every time a new application of AI is announced, I feel a short-lived rush of excitement — followed soon after by a knot in my stomach. This is because I know the technology, more often than not, hasn’t been designed with equity in mind. One system, ChatGPT, has reached 100 million unique users just two […]
Conflux (CFX) up 241% on News of Massive Ecosystem Expansion: Details
Conflux (CFX) has been making headlines lately as the digital currency continues its upward trend. This growth is a testament to the token’s elasticity to positive ecosystem updates. At the time of writing, the token is trading at a price of $0.2339, up by 8.74% and 241% over the past month. Conflux was designed as […]
Crude Oil Futures: Near-term correction likely
Crude oil futures markets saw traders scale back their open interest positions for the second consecutive session on Friday, with a decrease of around 14.2K contracts. Volume followed suit and dropped by around 114.6K contracts after two consecutive daily builds. The West Texas Intermediate (WTI) added to Thursday’s gains on Friday, despite the decrease in […]
Bears In Active Below $0.385
Ripple price has been struggling to stay above the $0.385 mark against the US Dollar over the past week. The price has dropped below the $0.3850 mark and the 55 simple moving average (4-hours). There is a key bearish trend line forming with resistance near $0.3800 on the 4-hours chart of the XRP/USD pair. The […]
USD/MXN fades bounce off multi-month low near $18.50 amid dicey markets
The USD/MXN pair seesaws around $18.40, after bouncing off the lowest levels in nearly five years. This aptly portrays the market’s inaction during early Monday as the US Dollar seeks next catalyst to extend the previous week’s run-up. Last week, the US Dollar Index (DXY) posted the heaviest run-up since September 2022 amid hawkish Fed […]
Solana in the Green After Weekend Deep Freeze
Good morning Asia, here’s how the crypto market is moving this Monday. Solana is up early 4% after the protocol crashed twice during the weekend, freezing transactions. The Solana Foundation says an investigation is underway into the cause of the crash and will be available shortly. Meanwhile, bitcoin is trading flat at $23,475. The world’s […]
Rebounds from 0.6730 support confluence
The AUD/USD is currently licking its wounds while printing mild gains around 0.6735-40 after bouncing off a seven-week low during early Monday’s sluggish session. This corrective move is likely due to a convergence of the 100-DMA and an upward-sloping support line from late November 2022, as well as the nearly oversold RSI (14). However, the […]
Shiba Inu Launches Shibarium Portal to Boost Adoption, Warns Crypto Traders to Avoid Beta Tokens
Shiba Inu, the team behind the highly anticipated layer-2 blockchain Shibarium, recently released the ‘Join Shibarium’ portal. The portal is a hub for developers, content creators, business owners and job seekers to get involved with the Shiba Inu ecosystem. Lead developer Shytoshi Kusama is hopeful that the portal will help the team to find the […]