AUDUSD Edges Higher on Chinese Optimism Despite Weak Aussie PMIs LeapRate

November 23, 2023 BY Simon Mugo

AUDUSD Edges Higher on Chinese Optimism Despite Weak Aussie PMIs

These declines pushed these sectors further into contractionary territory. Furthermore, the impact of the Reserve Bank of Australia's (RBA) meeting minutes still lingers, as the board reiterated concerns about inflation and the potential for future interest rate hikes. Despite these setbacks, there was a glimmer of positivity for the Australian dollar from China. Beijing's announcement…

November 23, 2023 BY Elizabeth Anderson

Altman returns as OpenAI CEO

The innovators of ChatGPT responded by headhunting and hiring Emmett Shear, the former head of the Twitch streaming site. This debacle led to 700 employees putting their names to paper, threatening to leave the company and join Microsoft (MSFT.O) if Altman was not reinstated. The newly appointed interim CEO Mira Murati took to X (formerly…

November 23, 2023 BY Elizabeth Anderson

Broadcom scoops up VMware for $69bn after Chinese regulatory approval

The $69bn deal is one of the biggest in the international tech arena and became public knowledge in May 2022. This announcement triggered worldwide regulatory scrutiny, starting a lengthy back-and-forth before obtaining the go-ahead from China and the European Commission. China gave its stamp of approval on Tuesday, which effectively dotted and crossed all requirements.…

November 23, 2023 BY Elizabeth Anderson

LMAX Group granted a Recognised Market Operator Licence from the Monetary Authority of Singapore

Clients can now hedge their FX exposure against non-convertible currencies on a Central Limit Order Book (CLOB). Transparent price discovery, efficient market structure, firm limit order market data, deeper liquidity and streaming real-time will now be available to all participants. LMAX intends to create a more diversified offering for institutional investors. That results from a…

November 23, 2023 BY Elizabeth Anderson

Another blockchain cyber attack: HTX and Heco Bridge in trouble

Despite initially appearing as separate, coincidental attacks, both incidents were allegedly performed by the same party due to the similarity in exploitative techniques and the connection between both targets. In response to the security breach, HTX exchange has taken precautionary measures by temporarily suspending withdrawals from its platform. _____________________________________________________________________________________________________________________________________ Don’t miss out the latest news,…

November 22, 2023 BY Simon Mugo

USDJPY Rallied Higher As the US Dollar Rose Against the Yen

Additionally, the recent agreement between Israel and Hamas to pause fighting has limited the upside potential for the JPY as a safe haven currency. Interestingly, the recent weakening of the USD may reduce the need for the Bank of Japan (BOJ) to intervene in the foreign exchange (FX) markets if this trend continues. Furthermore, Japanese…

November 22, 2023 BY Simon Mugo

EURUSD Falls on Upbeat US Jobless Claims Data, FOMC Minutes

According to the minutes, the central bank intends to maintain a restrictive monetary policy until inflation approaches its target of 2%. However, Federal Open Market Committee (FOMC) members believe any decisions should be cautiously approached. In summary, the minutes from the meeting provided a relatively balanced perspective, leaving little clear direction for the US dollar.…

November 22, 2023 BY Elizabeth Anderson

Indian Rupee rises above market obstacles

Despite these challenges, experts anticipate a combination of lower oil prices and steady core inflation may play a mitigating role to counteract inflationary risk. The Reserve Bank of India (RBI) is also closely monitoring external financial factors that could influence the Rupee's value and the country's payment balances. This comes after the UK released its…

November 22, 2023 BY Elizabeth Anderson

Creditor seizes two luxury homes of Evergrande chairman

Situated in The Peak, one of the most prestigious suburbs in Hong Kong, the properties have a collective value of more than HKD 1.5bn. Expected to take mansions over within the next few days, the unnamed creditor submitted the necessary documentation for the seizure on Tuesday. Reportedly, Hui, who owns these luxury residential properties, pledged…

November 22, 2023 BY Elizabeth Anderson

Palantir Technologies heads group developing £330m NHS data platform

Palantir is known for its intelligence-driven software systems. This NHS project aims to boost the networking capabilities between health and care organisations to the benefit of their patients. Earlier, many raised an eyebrow when the NHS appointed Palantir to handle the transitions needed to start the data platform without inviting competitors to quote. This particular…