Author: FX

© Reuters. As Coinbase (NASDAQ:) stock reaches a 52-week high, ARK Invest — the investment management firm led by (BTC) bull Cathie Wood — has recently sold more of its shares in the crypto exchange. Following ARK Invest’s significant acquisition of Coinbase shares during the bear market, the investment firm has sold off a portion of its Coinbase holdings for the second time this week. Meanwhile, Wood’s firm is actively investing in Meta Platforms and Robinhood (NASDAQ:) Markets shares.Screenshot of ARK Invest trading notification. Source: ARK Trading desk.Continue Reading on Coin Telegraph Source link

EUR/USD OUTLOOK:EUR/USD soars nearly 2.5% this week, rising to its best levels since February 2022A dovish repricing of interest rate expectations following softer-than-expected U.S. inflation data may be responsible for recent moves in the FX spaceMarket dynamics and positive may favor the euro in the coming week Recommended by Diego Colman Get Your Free EUR Forecast Most Read: Gold Finds Spark in Weak US Inflation Data, EUR/USD Blasts Off to New 2023 PeakEUR/USD soared this past week, rising nearly 2.5% to its best levels since February 2022 and notching its best weekly performance in approximately eight months.The euro’s strong rally…

© Reuters. FILE PHOTO: A sign is seen at an entrance to a Dow Chemical Co plant in Plaquemine, Louisiana December 12, 2015. REUTERS/Jonathan Bachman/File Photo (Reuters) – A fire broke out at Dow’s Plaquemine chemical facility in Louisiana, the U.S. chemical maker said in a statement late on Friday. Everyone at the facility was accounted for and the fire was being managed by the company’s Emergency Operations Center, Dow Louisiana said in a statement posted on Facebook (NASDAQ:), adding that they were in contact with officials. Explosions at the facility in Iberville Parish shook homes in the nearby state…

Sergei Dubrovskii/E+ via Getty Images SLB (NYSE:SLB) said Friday it is halting all shipments of products and technology into Russia “in response to the continued expansion of international sanctions.” The world’s largest oilfield equipment provider – formerly Schlumberger – said the Russia ban now applies to all its worldwide operations, not just those in the U.K., U.S., the European Union and Canada. SLB (SLB) recently had 9,600 employees working for top Russian oil and gas companies such as Gazprom and Rosneft; the work contributed 5% of the company’s annual revenue of ~$28B. The company has been criticized for continuing to…

Rich Polk Update 8:30pm: Adds Microsoft comment.A U.S. appeals court denied the Federal Trade Commission’s request to temporarily halt Microsoft’s (NASDAQ:MSFT) planned $69 billion acquisition of Activision (NASDAQ:ATVI). Activision rose 3.5% in after hours trading. The 9th Circuit Court of Appeals denied the request from the antitrust regulator, according to a court filing from a three-judge panel in San Francisco on Friday. The FTC needed the appeals court to grant a stay before a midnight deadline on Friday, when Microsoft is legally allowed to complete its purchase of Activision (ATVI) as the temporary restraining order is set to expire. The…

MEXICALI, Mexico (Reuters) -Construction worker Brian Larreta’s job is tough any day of the year, but scorching temperatures this month in northern Mexico have made it a dangerous feat. In Mexicali, a city of over a million people on Mexico’s northern border across from California, temperatures soared to 50 Celsius (122 Fahrenheit) this week, forcing many residents to stay inside and keeping volunteers and authorities busy trying to help those who can’t. “Sometimes, when you’ve been in the heat for a while you get dizzy,” Larreta, 25, said on a break from shoveling cement in a parking lot under the…

Share: US Dollar Index (DXY), which measures the US Dollar’s performance against a basket of six currencies, shows slight gains after reaching a fresh 15-month low of 99.578. June’s US CPI grew 3.0% YoY, underperforming the 3.1% forecast, while Core CPI fell by 0.5%. Concurrently, June’s PPI rose less than the expected 0.1% YoY. Considering these conditions, markets now expect fewer Fed rate hikes post-July FOMC, forecasting a stable Federal Funds Rate around 5.25%-5.50% in 2023. The US Dollar Index (DXY), which measures the US Dollar (USD) performance against a basket of six currencies, recovers some ground, as…

Today, the US Dollar rallied, stimulated by rising preliminary inflation expectations from the University of Michigan’s monthly consumer survey and overall stronger data. The bond yields also recorded a sharp incline.The inflation reading depicted a minor increment, moving from 3.3% to 3.4%. Given a market that has reacted positively to the favorable CPI and PPI data this week, even the slightest gains in inflation have somewhat deflated the narrative of receding inflation.Further, consumer sentiment indices also demonstrated a significant uplift:Consumer sentiment surged to 72.6 from 64.4 last monthCurrent conditions ascended to 77.5 from 69.0 in the previous monthExpectations climbed to…

It wasn’t the best of weeks for dollar bulls as the U.S. currency found itself trailing behind the forex pack after seeing downbeat inflation data from the U.S. Not only did these dampen hopes for future Fed rate hikes, but the weak CPI figures also allowed other lower-yielding currencies like the yen and franc to steal the safe-haven spotlight. Missed the major forex headlines? Here’s what you need to know about last week’s FX scene: USD Pairs Overlay of USD vs. Major Currencies Chart by TV Market jitters ahead of the highly-anticipated U.S. CPI report kept the dollar rangebound early in…

Share: EUR/USD may have run its course and bulls are laying the table. A break of key support structures could be on the cards for the week ahead. EUR/USD is stalling on the bid but underlying momentum is undeniable. At the time of writing the Single Currency is probing key resistance as the following illustrates, However, bears are planning their gameplay as the following charts will lean towards. Meanwhile, the US Dollar has bounced in a correction as markets crystallised the sentiment on the charts that the Federal Reserve is near the end of its rate hike cycle amid softening inflation.…