Stocks News

: Cigna and Humana in talks on combining in what would be a mega deal: WSJ
29 Nov 18:12
Managed-care providers Cigna Group CI and Humana Inc. HUM are in talks to combine in a cash-and-stock deal that could be finalized before year-end, the Wall Street Journal reported Wednesday, citing people familiar with the matter. Cigna’s market value stands at about $83 billion, while Humana’s is about $62 billion, suggesting it would be mega deal. Cigna’s stock fell 5.4% on the report, while Humana was down 0.6%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.
: Birkenstock’s stock rises above IPO issue price for the first time
29 Nov 16:57
Birkenstock Holdings PLC’s stock BIRK reached its initial public offering issue price for the first time on Wednesday, about a month and a half after hitting markets. The stock has traded in a range of $45.15 to $46.24 so far in the session. surpassing its IPO issue price of $46. The iconic German sandal-maker went public on Oct. 11.  The IPO marked one of the worst debuts for a billion-dollar deal of the last decade, according to Renaissance Capital, ending its first day of trade down 13%. Of 14 analysts rating the stock on FactSet, 10 rate it a buy while the remaining four have hold ratings. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.
: EIA reports weekly gains in U.S. crude and product supplies
29 Nov 16:39
The Energy Information Administration on Wednesday reported that U.S. commercial crude inventories rose by 1.6 million barrels for the week ending Nov. 24. On average, analysts polled by S&P Global Commodity Insights expected the report to show a decline of 700,000 barrels. The EIA report also revealed supply increases of 1.8 million barrels for gasoline and 5.2 million barrels for distillates. The forecast called for a gasoline supply rise of 200,000 barrels and a decline of 100,000 barrels for distillates. Crude stocks at the Cushing, Okla., Nymex delivery hub climbed by 1.8 million barrels last week, the EIA said. Oil futures traded lower ahead of the OPEC+ meeting scheduled for Thursday, with January West Texas Intermediate crude CLF24down 57 cents, or 0.8%, at $75.84 a barrel on the New York Mercantile Exchange. Prices traded at $75.97 before the supply data.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.
: JPMorgan’s Jamie Dimon sees lower odds of a soft landing than others
29 Nov 16:19
JPMorgan Chase & Co. JPM Chief Executive Jamie Dimon said Wednesday he’s less certain than others that the U.S. economy may avoid a recession, according to the New York Times live blog of his appearance at the 2023 DealBook Summit. Dimon said he’s giving lower odds than others of a soft landing, as part of comments on a wide range of topics. He compared the economy to the “weather” with people always making mistakes about what it’s going to do. In terms of other geopolitical flash points, Dimon said a war in Taiwan could trigger a major depression and that the most dangerous risks in the globe right now include nuclear proliferation, another pandemic and climate change. Dimon said TikTok parent ByteDance Ltd. is one of the bank’s clients. “If they were truly bad we would not bank them,” Dimon said. JPMorgan Chase’s stock was up by 0.7% on Wednesday.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.
: GameStop stock soars toward biggest 2-day gain 9 months
29 Nov 16:13
Shares of GameStop Corp. GME ran up 15.4% toward a seven-week high, as the original “meme” stock continued to get a boost from aggressive bets by options traders. The consumer electronics and videogame retailer’s stock had shot up 13.3% on Tuesday, a day after it closed at the lowest price ($11.91) since Feb. 23, 2021, as investors bet heavily on options that would pay off if the stock doubled following quarterly results due out on Dec. 6. The stock’s two-day gain of 30.7% would be the biggest since it rocketed 41.5% in the two days ended March 22, 2023. It was also headed for the first back-to-back double-digit percentage gain since it rose 29.2% on May 25 and 11.5% on May 26 of 2022. The stock has still lost 14.7% over the past three months while the S&P 500 SPX has gained 1.7%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.
: 2-year Treasury yield falls below 4.6% and is on track for lowest level since at least July
29 Nov 16:05
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.
aeXea Capital Launches Ambitious Initiative to Revitalize American Manufacturing Small Businesses
29 Nov 16:04
NEW YORK, Nov. 29, 2023 /PRNewswire/ -- aeXea Capital, led by renowned investor and business turnaround expert Marek Niedzwiedz, announced an ambitious initiative aimed at revitalizing American...
: Traders price in almost 78% chance that Fed will cut rates by May
29 Nov 16:04
Win McNamee/Getty ImagesFed funds futures traders are lifting the likelihood of at least a quarter-point rate cut from the U.S. central bank by May, driven by optimism that inflation will continue to fall.That likelihood was seen at 77.9% as of Wednesday morning, up from 65.2% a day ago and 41.6% last month, according to the CME FedWatch Tool. Such a move would take the fed funds rate target down to either between 5%-5.25% or even lower versus a current level of 5.25%-5.5%, a 22-year high. The readjustment in expectations comes a day after Fed Gov. Chris Waller said that the economy may be in the process of softening by enough to push inflation lower. Treasury yields extended their declines as a result, with the policy-sensitive 2-year rate falling 11.2 basis points to 4.622% Wednesday morning.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.
SAS signs strategic collaboration agreement with AWS to further integrate its cutting-edge AI and analytics software to scale and optimize data
29 Nov 16:03
The agreement highlights SAS' highly specialized industry solutions, beginning with the addition of SAS Customer Intelligence 360 to AWS MarketplaceCARY, N.C., Nov. 29, 2023 /PRNewswire/ -- SAS, a global...
CFP Board Announces Two Key Leadership Promotions for Government Relations & Public Policy and Financial Planning Workforce Initiatives
29 Nov 16:00
WASHINGTON, Nov. 29, 2023 /PRNewswire/ -- CFP Board is proud to announce the promotion of two staff members within the organization. Erin Koeppel, J.D., has been promoted to...
Is There A Right Way To Eat A Candy Cane?
29 Nov 16:00
Seasonal Chocolate and Candy Enhance Winter Holidays CelebrationsWASHINGTON, Nov. 29, 2023 /PRNewswire/ -- There's no clearer sign...
Vella Bioscience Launches Scientific Research Consortium for the Study of Women's Sexual Wellness
29 Nov 16:00
Chaired by the former lead clinical researcher for Viagra®, the consortium challenges the sexual wellness industry to embrace scientific rigor to advance innovations in female sexual health
Spavia Unveils Ambitious Franchise Growth Plans to Elevate the Day Spa Experience Across the Nation
29 Nov 16:00
Premier Health and Wellness Day Spa Entering New Development Era Bringing Affordable Luxury and Resort-Like Experiences Closer to HomeDENVER,
Step Into Frost Way with The Kerwin Frost Box at McDonald's
29 Nov 16:00
McDonald's gives fans around the world a fresh take on a classic unboxing experience with new collab and reimagined McNugget Buddies, starting Dec. 11CHICAGO,
CTI Expands AV Services to Research Triangle
29 Nov 16:00
Thirty-fourth US location in Raleigh, NC Promises Superior AV Integration and Service  RALEIGH, N.C., Nov. 29, 2023 /PRNewswire/ --
Levi & Korsinsky, LLP and Pomerantz LLP Announce a Proposed Settlement for the In re Humanigen, Inc. Securities Litigation
29 Nov 16:00
: U.S. stocks open higher after GDP report as Treasury yields fall
29 Nov 15:30
U.S. stocks opened higher on Wednesday as Treasury yields fell and investors digested an estimate on economic growth in the third quarter that was revised higher. The Dow Jones Industrial Average DJIA was up 0.1% soon after the opening bell, while the S&P 500 SPX gained 0.4% and the Nasdaq Composite COMP climbed 0.6%, according to FactSet data, at last check. Gross domestic product in the U.S. rose at an annual rate of 5.2%, according to a revised estimate from the Bureau of Economic Analysis that was released on Wednesday. The initial estimate was 4.9%. Meanwhile, the yield on the 10-year Treasury note was down about six basis points on Wednesday morning at around 4.29%, FactSet data show, at last check.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.
: Rover’s stock rockets after $2.3 billion cash buyout deal with Blackstone
29 Nov 15:10
Shares of Rover Group Inc. ROVR rocketed 27.1% in premarket trading, putting them on track for a record one-day gain, after the online pet-care marketplace announced an agreement to be acquired by Blackstone Inc. BX in a cash deal valued at $2.3 billion. Under terms of the agreement, Rover shareholders will receive $11 in cash for each Rover share outstanding, which represents a 29.4% premium to Tuesday’s closing price of $8.50. The stock hasn’t closed at or above $11 since Dec. 9, 2021. The deal, which is expected to close in the first quarter of 2024. includes a “go-shop” period that expires on Dec. 29 that Rover can solicit other buyout proposals. Rover’s stock has soared 131.6% year to date through Tuesday, while the S&P 500 SPX has rallied 18.6%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.
: Bed Bath & Beyond parent names co-chairs as management mandates ‘intense’ restructuring
29 Nov 14:54
Shares of Beyond Inc. BYON jumped 7.3% toward a two-month high in premarket trading Wednesday, after the parent of Bed Bath & Beyond and the company formerly known as Overstock said Chairperson Allison Abraham will now share the chairperson title with Director Marcus Lemonis. The company said its leadership mandates an “intense” restructuring, “through reducing costs and evaluating lines of business, investments and capital allocation while driving revenue and increasing [the] active customer base.” The news comes about three weeks after Jonathan Johnson stepped down as chief executive and from the company’s board, and David Nielsen was appointed interim CEO. “The entire management team is acutely focused on delivering improved results and appreciates the Board’s full support as we execute our plans,” Nielsen said Wednesday. The stock has tumbled 32.2% over the past three months through Tuesday, while the S&P 500 SPX has gained 1.3%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.
: Phillips 66′ stock soars 6% after Elliott Management discloses $1 billion stake and says it sees 75% upside
29 Nov 14:29
Phillips 66’s stock PSX rose 6% in premarket trade Wednesday, after Elliott Investment Management LP said it has accrued a roughly $1 billion investment in the energy company and sees potential upside of about 75%. The hedge fund of activist investor Paul Singer published a letter to the company’s management outlining how it can remedy what it views as underperformance, including adding new directors backed by Elliott. While the company’s 2025 targets are “admirable,” investors “are skeptical of the company’s ability to achieve them. said the fund. “At present, we believe Mr. Lashier and the rest of the management team deserve investor support so long as they demonstrate meaningful progress against these targets. At the same time, we find the market’s skepticism to be understandable, and we believe the Board must take several steps to reassure investors that Phillips 66 is in the best possible position to achieve its value-creation potential.” Phillips 66, which is headed by CEO Mark Lashier, was spun out of ConocoPhillips in 2012. The stock has gained 13% in the year to date, while the S&P 500 SPX has gained 18.6%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.
: Open Text selling unit to Bain Capital-backed Rocket Software for $2.28B
29 Nov 14:01
Open Text Corp.’s stock OTEX was up by 2% in premarket trading on Wednesday, a day after the company said it would sell its AMC business unit to Rocket Software Inc., a Bain Capital portfolio company, for $2.28 billion in cash. OpenText’s AMC unit specializes in mainframe modernization and connectivity software for more than 10,000 customers. Open Text said the deal will reinforce its focus on cloud and artificial intelligence products. “We are divesting our mainframe business so we can singularly focus on the powerful Cloud and AI opportunities within Information Management,” the company said. The company plans to use the proceeds to pay down its acquisition term loan as well as term loan B. Open Text plans to close the deal by June 30. Goldman Sachs & Co. LLC advised Open Text on the deal. RBC Capital Markets, LLC, Barclays Capital Inc., Deutsche Bank Securities Inc., and UBS Securities LLC financial are advisers to Rocket Software. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.
: Martha Stewart launches CBD line with backing from Canopy Growth, Marquee Brands
29 Nov 13:46
Martha Stewart CBD on Wednesday unveiled a line of CBD edibles offering aid in sleep and other potential wellness benefits, with backing from Canopy Growth Corp. CGCCA:WEED as well as Marquee Brands, a licensing and development company backed by Neuberger Berman Private Equity. Martha Stewart’s Sleep CBD Gummies sell for a suggested retail price of $59.99 for 60 gummies containing 25 milligrams of CBD and 3 milligrams of melatonin. Separately, Canopy Growth stock was up by 1.2% in premarket trading on Wednesday.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.
: Dollar Tree’s stock drops after earnings, sales miss expectations amid softer demand
29 Nov 13:37
Shares of Dollar Tree Inc. DLTR sank 2.1% in premarket trading Wednesday, after the discount retailer missed fiscal third-quarter earnings and sales expectations, but provided an in-line outlook for the current quarter. Net income for the quarter to Oct. 28 fell to $212.0 million, or 97 cents a share, from $266.9 million, or $1.20 a share, in the year-ago period. The FactSet consensus for earnings per share was $1.01. Total revenue grew 5.4% to $7.31 billion, below the FactSet consensus of $7.40 billion. Same-store sales increased 3.9% to miss expectations of 5.3% growth, as Dollar Tree same-store sales rose 5.4% and Family Dollar same-store sales increased 2.0%. For the fourth quarter, the company expects net sales of $8.6 billion to $8.8 billion, surrounding the FactSet consensus of $8.73 billion. “Our current outlook takes into consideration several factors including continuing strength at the Dollar Tree banner, incremental freight savings, softer demand from low-income households, and a continuation of the shrink and sales mix headwinds we have seen throughout the year,” said Chief Financial Officer Jeff Davis. The stock has shed 5.7% over the past three months through Tuesday, while the S&P 500 SPX has gained 1.3%. (This updates an earlier item that had an incorrect same-store sales figure for Dollar Tree.)Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.
: Petco’s stock plunges after surprise loss reported, outlook slashed amid ‘challenging consumer environment’
29 Nov 13:20
Shares of Petco Health & Wellness Co. Inc. WOOF tumbled 14.3% in premarket trading Wednesday, after the pet care products retailer reported a surprise fiscal third-quarter loss and slashed its full-year outlook, and said it was taking “swift and decisive action” to boost performance. The company swung to a net loss for the quarter to Oct. 28 of $1.24 billion, or $4.63 a share, from net income of $19.9 million, or 7 cents a share, in the year-ago period. Excluding nonrecurring items, such as a $1.2 billion goodwill impairment charge, the adjusted per-share loss was 5 cents, to miss the FactSet consensus for earnings per share of 2 cents. Total sales slipped 0.5% to $1.49 billion, below the FactSet consensus of $1.51 billion, as flat same-store sales missed expectations of 0.5% growth. Among actions it was taking amid a “challenging consumer environment” was the introduction of national cat and dog food value brands. For fiscal 2023, the company reiterated its revenue guidance of $6.150 billion to $6.275 billion but cut its adjusted EPS outlook to approximately 8 cents from 24 cents to 30 cents. The stock has plunged 59.5% year to date through Tuesday while the S&P 500 SPX has gained 18.6%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.
: Companies agree to pay $110M settlement for PFAS chemicals in Ohio
29 Nov 13:15
The Chemours Co. CC said Wednesday it reached a settlement with the State of Ohio along with DuPont de Nemours Inc. DD and Corteva Inc. CTVA for $110 million to resolve claims related to the manufacture and sale of per- and polyfluoroalkyl substances (PFAS). The agreement resolves Ohio’s PFAS claims from the companies’ facilities including the Washington Works plant along the Ohio-West Virginia border. Chemours will pay 50% of the settlement costs, or $55 million, while DuPont and Corteva will be responsible for the remaining 50%. “Chemours believes this settlement furthers its objective to manage and resolve legacy liabilities,” the company said. Chemours stock was up by 1.4% in premarket trading. DuPont’s stock has risen 3.4% so far in 2023, compared to an 18.6% increase by the S&P 500 SPX.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.
: KKR to acquire remaining 37% stake of insurer Global Atlantic for about $2.7 billion in cash
29 Nov 12:56
KKR & Co. Inc. KKR and Global Atlantic Financial Group LLC said Wednesday they have reached an agreement for KKR to acquire the remaining 37% stake of insurer Global Atlantic, boosting its stake to 100%. The private equity firm will pay about $2.7 billion in cash for the stake and fund it from its own balance sheet, which had $23 billion of cash and investments as of Sept. 30. The deal is expected to close in the first quarter of 2024. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.
: Foot Locker’s stock leaps toward 4-month high after a triple beat in earnings and improved sales outlook
29 Nov 12:55
Shares of Foot Locker Inc. FL ran up 11.2% toward a four-month high in premarket trading Wednesday, after the athletic footwear retailer reported fiscal third-quarter beat profit, revenue and same-store sales expectations, citing improved conversion trends. Net income for the quarter to Oct. 28 fell to $28 million, or 30 cents a share, from $96 million, or $1.01 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of 30 cents beat the FactSet consensus of 21 cents. Total revenue declined 8.6% to $1.99 billion, above the FactSet consensus of $1.96 billion, as same-store sales fell 8.0% to beat expectations for a 9.7% decline. Looking ahead, the company narrowed its fiscal 2023 sales change outlook to a decline of 8.0% to 8.5% from a decline of 8.0% to 9.0% and improved its same-stores sales change guidance to down 8.5% to 9.0% from down 9.0% to 10.0%, but trimmed its adjusted EPS outlook to $1.30 to $1.40 from $1.30 to $1.50. The stock has soared 30.1% over the past three months through Tuesday, while the SPDR S&P Retail ETF XRT has gained 0.6% and the S&P 500 SPX has advanced 1.3%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.
: Birkenstock’s stock closes a whisker below its IPO issue price for the first time
29 Nov 12:51
Birkenstock Holding PLC’s stock BIRK is edging close to its initial public offering price after closing Tuesday at $45.38, just below the IPO issue price of $46. The iconic German sandal-maker’s stock has not yet traded at that level after it went public on Oct. 11.  The IPO marked one of the worst debuts for a billion-dollar deal of the last decade, according to Renaissance Capital. Of 14 analysts rating the stock on FactSet, 10 rate it a buy while the remaining four have hold ratings. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.
: GM’s stock soars 5% after company reinstates 2023 guidance and announces $10 billion accelerated share buyback
29 Nov 12:40
General Motors Co.’s stock GM soared 5% early Wednesday, after the car maker said its reinstating its 2023 earnings guidance and conducting a $10 billion accelerated share buyback program. The company is also planning to increase its dividend by 33% beginning with the January 2024 declaration. “We are finalizing a 2024 budget that will fully offset the incremental costs of our new labor agreements and the long-term plan we are executing includes reducing the capital intensity of the business, developing products even more efficiently, and further reducing our fixed and variable costs,” Chief Executive Mary Barra said in a statement. GM twice raised its guidance for all of 2023 but withdrew it in the third quarter while workers were striking. It expects the labor disruption to shave $1.1 billion off adjusted EBIT due to lost production. The reinstated guidance calls for net income of $9.1 billion to $9.8 billion, which compares with a previous range of $9.3 billion to $10.7 billion. It expects adjusted per-share earnings of $6.52 to $7.02, compared with prior guidance of $7.15 to $8.15. The company expects capex of $11.0 billion to $11.5 billion, the low end of its prior range of $11.0 billion to $12.0 billion. The company has canceled a $6.0 billion revolving credit facility it entered in October and plans to enter a new 364-day $3.0 billion committed credit facility with the banks executing the accelerate share buyback. The stock has fallen 14% in the year to date, while the S&P 500 SPX has gained 18.6%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.
: Hormel misses profit and sales expectations, but the stock gains amid foodservice strength
29 Nov 12:20
Shares of Hormel Foods Corp. HRL rose 1.4% in premarket trading Wednesday, even after the parent of food brands including SPAM, Planters, and Hormel reported fiscal fourth-quarter profit and sales that missed expectations, as pressure in its retail business offset strength in foodservice. Net income for the quarter to Oct. 29 dropped to $195.9 million, or 36 cents a share, from $279.9 million, or 51 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of 42 cents missed the FactSet consensus of 44 cents. Sales fell 2.6% to $3.20 billion, just below the FactSet consensus of $3.26 billion, as overall volume declined 0.4%, with retail down 2.7% and foodservice up 4.8%. For fiscal 2024, the company expects adjusted EPS of $1.51 to $1.65, below the current FactSet consensus of $1.66. Sales are expected to grow 1% to 3%, while the current FactSet sales consensus of $12.27 billion implies a 1.3% rise. The stock has tumbled 19.7% over the past three months through Tuesday, while the S&P 500 SPX has gained 1.3%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.
: Kraft Heinz launches first plant-based mac & cheese in the U.S.
29 Nov 12:12
Kraft Heinz Co. KHC said Wednesday it is launching its first plant-based mac & cheese in the U.S. via its joint venture with TheNotCompany called The Kraft Heinz Not Company LLC. The new dish is available in original and white cheddar flavors. “Leveraging the strengths of both companies, we’re offering the creamy and comforting experience KRAFT Mac & Cheese fans have loved for over 85 years — without the dairy,” the company said in a statement. The plant-based mac & cheese will start rolling out on shelves across the U.S. from now through early 2024. The company is already offering plant-based Kraft NotCheese slices and NotMayo and intends to add further products to its offering and to expand overseas. Kraft Heinz’s stock was up 0.2% premarket but has fallen 14% in the year to date, while the S&P 500 SPX has gained 18.6%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.
: Alibaba shares slip after report on Jack Ma wanting change
29 Nov 11:01
Alibaba shares BABA fell 3% in premarket trade, as the Financial Times reported that company founder Jack Ma wrote on an internal forum that the internet giant will have to change and reform. Ma’s comment was in response to an employee commenting on the success of rival PDD Holdings PDD, whose results topped earnings expectations. Alibaba has recently made a U-turn on a plan that would split the company up into six different parts.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.
: Unity Software to close corporate offices in 14 locations
29 Nov 00:12
Unity Software Inc. U, a developer of 3-D tools for virtual reality, said on Tuesday that it planned to close corporate offices in around 14 locations, as it “evaluates its real estate footprint.” The company — whose software is used by artists and developers in industries such as film, videogames and engineering — said in a filing that staff affected by the closures “will have the option to become fully remote, with the exception of specific roles which are location-dependent.” Unity Software said it couldn’t yet gauge the costs of that plan, but said it expected to incur them in the fourth quarter of this year and the first quarter of next year. Shares rose 0.8% after hours on Tuesday. The company also said it “terminated its obligations to provide certain services” to Weta FX, a visual effects company controlled by “Lord of the Rings” director Peter Jackson, and amended some intellectual property rights between the two. Unity bought Weta Digital’s technology and engineering talent in 2021. At that time, Unity said Weta Digital’s visual effects teams would continue as Weta FX. Unity, in the filing, said it would “recognize deferred revenue and additional consideration in connection with the amendments of approximately $114 million, and will expense the recorded cost of a related contract intangible asset of approximately $131 million, which will occur in the fourth quarter of 2023.”Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.
: Apple scotches credit-card partnership with Goldman Sachs: report
29 Nov 00:10
Apple Inc. AAPL is calling it quits on its credit-card partnership with Goldman Sachs Group Inc. GS, ending the Wall Street bank’s push into consumer lending, according to a Wall Street Journal report Tuesday. The iPhone maker sent a proposal to Goldman to leave the contract within 15 months, according to people briefed on the matter. The exit would cover the companies’ consumer partnership, which includes the credit card the companies launched in 2019 and the savings account rolled out in 2023. It is unclear if Apple has lined up a new issuer for the card.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.
: Farfetch to skip scheduled earnings amid going-private reports
28 Nov 23:25
Luxury fashion e-commerce company Farfetch Ltd. FTCH said late Tuesday it won’t announce its third-quarter financial results on Wednesday as scheduled, saying only it will provide a “market update in due course.” Shares of Farfetch rose 15% in the extended session after a 22% jump in the regular session. Earlier Tuesday, the Telegraph reported that the company’s founder Jose Neves was considering taking the company private and was in talks with top shareholders. Farfetch, which became public in 2018 and rode a wave of larger online sales during the pandemic, also said Tuesday that it won’t provide guidance, and that any previous “forecasts or guidance should no longer be relied upon.” Farfetch in August reported weaker-than-expected results for its second quarter. At that time, the company called for revenue of approximately $2.5 billion for this year, up from $2.3 billion in 2022. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.
: Cessna-maker Textron plans to cut 725 positions, or 2% of workforce
28 Nov 23:22
Textron Inc. TXT, the company that makes Cessna airplanes and other aircraft, said on Tuesday that it would cut around 725 positions, or 2% of its global staff, following reduced product demand for some of its businesses. The company, in a filing, cited “lower demand for certain of our powersports products which we anticipate will continue,” along with “reduced demand for fuel systems from European automotive manufacturers.” Textron said it expected the plan to be “substantially completed” in the first half of 2024. It said it expects gross annualized savings of around $75 million after the plan. The filing said Textron expected to book charges of between $115 million to $135 million in the fourth quarter as a result of the cuts. Shares were unchanged after hours. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.
: Leslie’s stock tanks 15% after pool supplier forecasts rougher 2024
28 Nov 23:07
Shares of Leslie’s Inc. LESL fell 15% in the extended session Tuesday after the supplier of spa and pool products reported fourth-quarter earnings below expectations and called for 2024 revenue and profit also below Wall Street forecasts. Leslie’s earned $16.5 million, or 9 cents a share, in the quarter, compared with $57.9 million, or 31 cents a share, in the year-ago period. Adjusted for one-time items, the company earned 14 cents a share. Revenue dropped 9.1% to $432.4 million, the company said. Analysts polled by FactSet expected adjusted earnings of 16 cents a share on sales of $419 million. “Following three years of unprecedented growth, the pool industry and Leslie’s faced multiple transitory headwinds in 2023 that impacted our financial results through the fiscal fourth quarter,” Chief Executive Mike Egeck said in a statement. For 2024, the company said it expects revenue between $1.410 billion and $1.470 billion and adjusted EPS between 25 cents and 33 cents. That compares with FactSet consensus of revenue of $1.5 billion and adjusted EPS of 46 cents for the year. In July, Leslie lowered the outlook for this year, saying that its customers were affected by higher prices. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.
: NetApp stock rallies on upbeat full-year outlook
28 Nov 22:43
Shares of NetApp Inc. NTAP jumped 9.7% after hours on Tuesday after the data and storage software company forecast more upbeat profit and sales trends for its full fiscal year. Management said it expected revenue for the full year to be down “approximately 2%,” compared with FactSet forecasts for a 3.5% decline and earlier expectations for a “low-to-mid” single digit decrease. The company forecast full-year adjusted earnings per share of $6.05 to $6.25, compared with estimates for $5.73 and a prior forecast from the company for a range of $5.65 to $5.85. Fiscal second-quarter results beat expectations. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.
: Intuit’s stock is on the rise after revenue. earnings beats
28 Nov 22:11
Intuit Inc.’s INTU stock inched up nearly 1% in extended trading Tuesday after the software company reported quarterly results that topped analyst revenue and earnings estimates. Intuit reported fiscal first-quarter net income of $241 million, or 85 cents a share, compared with net income of $40 million, or 14 cents a share, in the year-ago quarter. Adjusted net income was $2.47 a share. Revenue was $2.98 billion, compared with $2.6 billion during the same quarter a year ago. Analysts surveyed by FactSet had expected on average net earnings of $1.98 a share on revenue of $2.88 billion. Intuit’s stock has propelled 45% this year, while the broader S&P 500 index SPX has increased 19%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.

Forex News

Fed's Beige Book: On balance, economic activity slowed since the previous report
29 Nov 20:01
The Beige Book rarely matters but around economic turning points it can be a market mover.Retail sales, including autos, remained mixed; sales of discretionary items and durable goods, like furniture and appliances, declined, on average, as consumers showed more price sensitivity.four Districts reported modest growth, two indicated conditions were flat to slightly down, and six noted slight declines in activityDemand for transportation services was sluggishManufacturing activity was mixed, and manufacturers' outlooks weakenedConsumer credit remained fairly healthy, but some banks noted a slight uptick in consumer delinquencies The economic outlook for the next six to twelve months diminished over the reporting period.Price increases largely moderated across Districts, though prices remained elevatedDemand for labor continued to ease, as most Districts reported flat to modest increases in overall employmentSeveral Districts continued to describe labor markets as tight with skilled workers in short supplyFull reportThis fits in completely with the dovish theme that's been emanating from Fed speakers. The economy is slowing, prices are coming down and the labor market is cooling off. This article was written by Adam Button at
The OPEC cut talk starts up again
29 Nov 19:51
OPEC+ is considering a new oil production cut of as much as 1 million barrels a day, according to a report in the WSJ published earlier. Oil has been volatile today, falling earlier in New York trade and then storming back. A similar pattern played out yesterday."A deal for further cuts isn’t assured, and the prospect is facing significant resistance within the Organization of the Petroleum Exporting Countries. A rollover of most existing output curbs is the most likely scenario, the delegates said, but talks are continuing."I would still say there's only about a 20% chance of a cut priced into the market but that's heavy on guesswork.WTI crude was last up $1.17 to $77.57. This article was written by Adam Button at
Fed's Mester: Monetary policy is 'in a good place'
29 Nov 19:46
Sees 'clear progress' in getting inflation to 2%It will take time to get to 2% but Fed will do itFed has time to vet incoming dataMonetary policy must be nimble in current circumstancesMon pol well positioned to be flexibleThis is incrementally more dovish from here previous comments, when she said whether further hikes are needed depends on the economy. She also said previously that she hadn't assessed whether she will pencil in another rate hike in her December projections; it's now safe to say that she hasn't. This article was written by Adam Button at
More Fed talk coming up next with Mester and the Beige Book
29 Nov 19:39
Oftentimes in the past year, the amount of Fedspeak has been far too much but we're approaching a turning point in policy so it's one of the rare times where every word matters. This entire stock market rally kicked off with the Fed and if they shift to an explicitly neutral stance, then there's further room to run, along with a hearty put.In any case, next on the docket is Cleveland Fed President Mester, who talks on financial stability at 1:45 pm ET. She's recently been in the 'wait and see' camp on rates. Mester votes next year.At the top of the hour, the latest Beige Book is due out. This article was written by Adam Button at
European equity close: DAX rises to the highest since August 1
29 Nov 17:31
On the day:German DAX, +1.1%France CAC, +0.3%UK FTSE 100 -0.4%Spain's IBEX +0.6%Italy's FTSE MIB, +1.0%Euro STOXX 600 +0.4%What a month for German stocks. This article was written by Adam Button at
The market prices in even more Fed easing next year
29 Nov 16:54
Until today, 100 basis points of Fed easing remained something of a ceiling for what the market was willing to price in. However yesterday's dovish comments from Waller changed the equation and late yesterday Bill Ackman piled on, talking about a Q1 cut.Barkin pushed back today but also said that market bets on four rate cuts next year might be based on expectations for soft landing, and "I hope they are right." That indicates at least an openness to cutting if the data cooperates. Add in constructive comments from Bostic and the 100bps ceiling has broken.Now the Fed funds futures market is pricing in a full cut at the May 1 meeting and 115 bps of easing by year-end 2024.You can increasingly see that trade manifest itself in US 2s, which are down another 8.4 bps today and appear to be breaking down. This article was written by Adam Button at
Weekly EIA inventories crude oil +1609K versus -933K expected
29 Nov 16:30
Expectations:Crude +1609K vs -933K expGasoline +1764K vs +229K expDistillates +5127K vs -394K expThe huge build in distillates is a big surprise and it's certainly welcome given critically-low diesel inventories.Late yesterday, the API reported:Crude -817KGasoline -898KDistillates +2806KThese numbers are bearish oil, which was already selling off into the data. If OPEC hasn't already made up its mind, this should be a warning to them that the crude market isn't particularly tight.Expect a big move tomorrow when the OPEC news is announced. This article was written by Adam Button at
Oil turns lower ahead of weekly EIA oil inventories
29 Nov 16:24
WTI crude oil is down 22 -cents to $76.07 after earlier trading as high as $77.88.The sharp round of selling comes ahead of the latest weekly US storage data from the EIA. The consensus estimates are:Crude -933KGasoline +229KDistillates -394KHowever there are whispers of a +7 million barrel build and I think that's weighing. OPEC+ worries also continue to mount, though there are reports that tomorrow's meeting will go ahead. That indicates that at least some consensus has been reached.Late yesterday, the API reported:Crude -817KGasoline -898KDistillates +2806KThe numbers are out at the bottom of the hour. This article was written by Adam Button at
Feds Barkin: I'm hearing consumers slowing down, but not falling off the table
29 Nov 16:06
Revised consumer spending data is more consistent with what I am hearing on the groundI'm hearing consumers slowing down, but not falling off the tableSkeptical that price setters at this point have gone back to where they were pre-Covid5.2% GDP tells companies that they can still try to raise pricesThe goods inflation has clearly come down. Then that of that is basically back to pre--Covid levelsWhile I think that entry rates have clearly come down, but housing inflation is still going upA lot of services prices are still going up driven by wagesI am still in the "looking to be convinced category" that inflation is coming downNot willing to take another rate hike off the table.Want the option of doing more on rates if inflation flairs again.Markets have a different forecast than me on inflationI believe inflation will be stubborn then we'd likeTalking about rate cuts is prematureWe do hope the messages we send go into the financial conditions in the markets.Try not to get overly focused on the financial conditions in the markets.Market bets on 4 rate cuts next year might be based on expectations for soft landing. I hope they are right.My forecast is that inflation will come down but stubbornlyWe will in the end have some kind of slowdownTo lower rates you'd need to be confident inflation is headed back to 2%.Barkins comments are a bit more cautious on inflation and therefore cautious on the rate path. He is not convinced that no more rate hikes are needed. This article was written by Greg Michalowski at
The bumpy path to achieving 2% inflation: Insights from Fed's Bostic
29 Nov 16:03
Bostic expects the downward trajectory of inflation to continue.He anticipates a slowdown in economic activity in the upcoming months.Bostic acknowledges that tighter monetary policy is significantly impacting economic activity.He believes the path to 2% inflation will be bumpy but achievable.Bostic notes that companies' pricing power is diminishing.He observes ongoing disinflation and a measured slowdown in economic activity.Fed's Bostic feels more confident in the current economic outlook. This article was written by Greg Michalowski at
Biden Administration to revamp EV tax credits to curb Chinese influence
29 Nov 15:58
The Wall Street Journal is reporting that the Biden administration is expected to announce tax-credit rules for electric vehicles (EVs) on Friday, impacting the American EV market.These rules involve a $7,500 tax subsidy for new EV buyers, with a specific focus on limiting the use of battery materials from "foreign entities of concern," primarily targeting Chinese suppliers.The definition of "foreign entity of concern" is crucial and challenging for the administration, as it will significantly influence EV prices in the U.S.The aim is to encourage domestic auto-supply chain development and reduce reliance on China, a major clean-energy technology supplier and geopolitical rival.Strict application of these rules could disqualify many EVs from the subsidy, potentially slowing the transition from gasoline-powered vehicles.The subsidy will likely be blocked for vehicles with batteries, components, or minerals made by state-owned Chinese companies, affecting many current EV designs.The prohibition takes effect in 2024 for battery components and in 2025 for minerals.Automakers have been awaiting a clearer definition of "foreign entity of concern" before committing to investment or licensing deals for EV batteries and minerals. Ford Motor's recent deal with Chinese company CATL for a battery factory in Michigan has become a political issue, with calls for rules that would disqualify such batteries from the subsidy. General Motors, without similar deals, has lobbied for a strict interpretation, which could disadvantage Ford's EV plans.Chinese companies are exploring workarounds, like partnering with Korean and Moroccan firms or adjusting ownership structures, to comply with the upcoming rules. This article was written by Greg Michalowski at
J.P. Morgan's Dimon: We as a nation should not be complacent
29 Nov 15:40
J.P. Morgan/Chase CEO Jamie Dimon is speaking at a NYT/Dealbook summit and says:May be the most dangerous time the world has seen in decadesOil and gas can be explosive and it hurts poor nationsChina/Taiwan more will eventually happenUS as a nation should not be complacentWe should fix our reliance on supply chain from ChinaI am not afraid of China. We should engage with China, good for American bank to be thereAlways talking to China about right way to deal with security riskPolitics is personal. We get involved in policy. We need better immigration policy. We need better education policy.Whoever is president, I will do my best to help the president for the good of the American peopleBelieves there is a higher likelihood of an additional rate hike compared to others' views.Considers the probability of a soft economic landing to be lower than what others anticipate.His comments are largely big picture, geopolitical, global. This article was written by Greg Michalowski at
US stocks higher to start Wednesday's trading
29 Nov 15:34
The major US indices are opening higher led by the NASDAQ index:Dow industrial average is trading up 78 points or 0.22% at 35496S&P index of 27.38 points or 0.59% at 4582.00NASDAQ index is trading up 114 points or 0.80% at 14394.90Looking at the US debt market yields are lower but off their lowest levels:2 year yield 4.653% -8.2 basis points5 year yield 4.224% -6.1 basis points10 year yield 4.285% -5.0 basis points30 year yield 4.475% -4.8 basis pointsLooking at other markets:Crude oil is trading up $0.91 or 1.16% at $77.30Gold is trading up $0.56 or 0.02% at $2041.21Silver is trading up $0.03 or 0.11% at $25.02Bitcoin remains above $38,000 at $38011 This article was written by Greg Michalowski at
US stocks are set open higher. Futures are implying a solid start for the major indices
29 Nov 15:30
It is hump day in the week, and the major US stock indices are ± unchanged for the trading week. However, things are looking good in premarket trading to tilt the bias more to the upside. A gain this week would be the 5th consecutive positive week for the major indices.In premarket trading, the features are implying a higher opening with the NASDAQ index leading the way. Currently futures are implying:Dow industrial average futures are implying a gain of 103 pointsS&P futures are implying a gain of 22 pointsNASDAQ futures are implying a gain of 106 pointsUS yields are lower with the two-year down -7.8 basis points any tenure down -4.4 basis points. This article was written by Greg Michalowski at
USD/JPY Analysis: Amid Downward Pressure on The Dollar - 29 November 2023
29 Nov 14:32
Explore the dynamics of the USD/JPY as the yen strengthens amidst Japan's potential shift from negative interest rates, affecting major currencies and market expectations.
US wholesale inventories for October -0.2% versus 0.1% expected
29 Nov 14:31
Prior month +0.2% revised to 0.1%Advance Wholesale Inventories:October wholesale inventories were $899.4 billion, a decrease of 0.2% from September 2023. The expectations was a 0.1% riseThis represents a 2.0% decrease from October 2022.The change from August 2023 to September 2023 was revised from an increase of 0.2% to 0.1%.Advance Retail Inventories:October retail inventories were $796.6 billion, essentially unchanged from September 2023.This is a 5.4% increase from October 2022.The change from August 2023 to September 2023 was revised from an increase of 0.9% to 0.4%.Retail inventories ex autos -0.9% versus -0.4% prior revised from +0.3A decline in inventories on it's own is a negative for GDP. This article was written by Greg Michalowski at
US advanced goods trade balance for October -$89.84 billion vs. -$86.4 billion estimate
29 Nov 14:30
Prior month $-85.78 billionThe international trade deficit in October was $89.8 billion, an increase of $3.0 billion from September's $86.8 billion. The estimate was $86.4 billionOctober exports were valued at $170.8 billion, which is $3.0 billion lower than exports in September.Imports in October stood at $260.7 billion, remaining almost unchanged from September's import figures.The trend has moved back to the upside after 2 months of more tame deficits. An increase in the deficit is a negative for GDP. This article was written by Greg Michalowski at
US Q3 GDP (second estimate) 5.2% vs 5.0% expected
29 Nov 14:30
Advanced reading was +4.9% Q2 final reading was +2.1%Personal consumption +3.6 vs +4.0% advance readingCore PCE prices +2.3 vs +2.4% expectedPCE prices +2.8% vs +2.9% advanceGDP deflator +3.5% vs +3.5% expectedGDP final sales +3.7% vs +3.5% advancedCorporate profits after tax +4.1% vs +0.5% in Q2Full reportPercentage point changes: Net trade -0.04 pp vs -0.08 pp advance Inventories +1.40 pp vs +1.32 pp advance Govt +0.94 pp vs +0.79 pp advanceIncreases in inventories and government spending explain the higher revisions to GDP. At some point, when government spending slows down, those gains will be reversed but inventories are less predictable."The update primarily reflected upward revisions to nonresidential fixed investment and state and local government spending that were partly offset by a downward revision to consumer spending," the release said.In terms of the market, the slower consumer spending might be the takeaway from this report. Dollar Tree today also cut its guidance and highlighted that the low-income consumer is struggling. Both point to a slowdown in the consumer ahead, which will end the inflation threat. This article was written by Adam Button at
Canada Q3 current account balance -$3.22B vs $1.00B expected
29 Nov 14:30
Prior was -$6.63B (revised to -$7.328B)Canada’s current account deficit narrowed significantly to $3.2 billion in Q3 2023, down from larger deficits earlier in the year but still far larger than expected.Goods posted a slight surplus in contrast to the large deficit in Q2 in large part due to energy exports and higher oil prices. The services deficit widened slightly in something of a surprise as it was driven by trade deficits in transportation and an increase in personal travel expenses by Canadians abroad.The surplus with the United States increased by $6.6 billion, reaching $30.0 billion, mainly due to a $7.0 billion rise in exports. Trade deficits with other countries narrowed, with notable changes in trade balances with China and the United Kingdom.On the financial accounts, there was a notable outflow of funds amounting to $41.4 billion, driven by strong acquisitions of foreign securities and record retirements of Canadian government bonds. Canadian investment in foreign securities hit a high, primarily in US instruments. Foreign direct investment in Canada almost doubled from the previous quarter, majorly in the manufacturing sector.Overall, the balance of payments data continues to be a concern for Canada. This article was written by Adam Button at
Germany November preliminary CPI +3.2% vs +3.5% y/y expected
29 Nov 14:00
Prior +3.8%CPI -0.4% vs -0.1% m/m expectedPrior 0.0%HICP +2.3% vs +2.6% y/y expectedPrior +3.0%HICP -0.7% vs -0.5% m/m expectedPrior -0.2%The headline reading is the lowest since June 2021, as monthly consumer prices also decline more than expected in November. The 3.2% reading does fit with estimations from the state readings earlier in the day, which were also much softer than anticipated. Core annual inflation is also presumed to decline to 3.8% this month, down from 4.3% in October, and that is another welcome development for the ECB at this point in time. This article was written by Justin Low at
Dollar steadies but is the relief just temporary?
29 Nov 13:22
The dollar is surprisingly finding some steadier footing in European trading now, with USD/JPY itself up 0.15% to 147.70 on the day. That's quite a modest recovery from the low of 146.90 in Asia trading. Meanwhile, EUR/USD is also down 0.1% to 1.0980 and AUD/USD down 0.4% to 0.6620 currently. The latter is not benefiting from softer inflation data earlier today here.The kiwi is still leading gains on the day but has dropped from 0.6200 to 0.6150 against the dollar, after having been bolstered by more hawkish RBNZ prospects earlier here.The light bounce in the dollar comes despite softer bond yields once again while equities are starting to pick up some steam after two days of tepid momentum. I wouldn't be so quick to say that the dollar has stopped the rot. If anything else, this looks to be just a bit of a breather unless the situation changes up in the bond market.All else being equal, I reckon the selling could hit hard once again when we get to US trading later. This article was written by Justin Low at
Stocks look to make up for lost ground from earlier this week
29 Nov 13:08
You would think that with the plunge in bond yields this week, equities would've been on a tear and entering a strong rally mode. Instead, it has been anything but in the last two days. And only now in European trading are we seeing some tentative signs of stronger gains with regional indices up around 0.5% to 0.9% while S&P 500 futures are up 0.4% at the highs currently.I would argue that month-end flows could perhaps be offering some counter-argument for stocks to gain. Otherwise, it's hard to pick at reasons why there hasn't been a ripping rally just yet. 10-year Treasury yields have fallen some 17 bps on the week already and even taking out a key technical level here.It's a bit of a topsy turvy day now with the dollar finding some steadier footing on the session but I wouldn't be surprised if the greenback turns around and falls sharply in US trading later. This article was written by Justin Low at
US MBA mortgage applications w.e. 24 November +0.3% vs +3.0% prior
29 Nov 13:00
Prior +3.0%Market index 176.1 vs 175.6 priorPurchase index 144.9 vs 138.4 priorRefinance index 327.8 vs 359.9 prior30-year mortgage rate 7.37% vs 7.41% priorThe fall in rates continue to benefit mortgage activity for now, although purchases were the ones driving the jump in the past week as refinancing activity fell. The average rate of the most popular US home loan continues to decline, now some distance away from the highs near 8% just last month. This article was written by Justin Low at
XAU/USD Gold Price Analysis Today: Gold Surges Strongly with Dollar Weakness - 29 November 2023
29 Nov 12:39
Gold prices surpass $2052/oz in a 5-day rise, fueled by US dollar decline and Fed rate hike speculations. Watch for future economic indicators.
GBP/USD Analysis: BoE policy shift supports it. - 29 November 2023
29 Nov 12:31
Discover the GBP/USD's surge to a 3-month peak at 1.2732, driven by BOE's rate cut stance and a softer US dollar. Stay updated on this bullish trend's next moves!
EUR/USD Analysis: Stronger Upward Momentum Ahead of Important Events - 29 November 2023
29 Nov 12:22
Explore the EUR/USD pair's bullish momentum as it breaks the 1.1000 barrier, with potential for further gains amid US economic data and central bank moves.
New Zealand Central Bank Maintains Rates at 5.5% but Warns of More Hikes - 29 November 2023
29 Nov 11:54
New Zealand’s central bank has kept interest rates unchanged for a fourth straight time, maintaining the cash rate 5.5%. The hawkish tone of the meeting sent the New Zealand dollar sharply higher and equity markets significantly lower.
USD/TRY Forecast: Minister of Finance says Turkey Follows a Flexible Exchange Rate System - 29 November 2023
29 Nov 11:34
The US dollar pair against the Turkish lira stabilized near its divorce highs, which it recorded during this week’s trading.
OECD sees global growth slowing further but hard landing to be avoided
29 Nov 11:10
🌎 2023 global GDP growth lowered to 2.9% (previously 3.0%)🌎 2024 global GDP growth unchanged at 2.7%🌎 2025 global GDP growth seen at 3.0% (first estimate)🇺🇸 2023 US GDP growth improved to 2.4% (previously 2.2%)🇺🇸 2024 US GDP growth improved to 1.5% (previously 1.3%)🇪🇺 2023 Eurozone GDP growth unchanged at 0.6%🇪🇺 2024 Eurozone GDP growth lowered to 0.9% (previously 1.1%)🇬🇧 2023 UK GDP growth improved to 0.5% (previously 0.3%)🇬🇧 2024 UK GDP growth lowered to 0.7% (previously 0.8%)🇯🇵 2023 Japan GDP growth lowered to 1.7% (previously 1.8%)🇯🇵 2024 Japan GDP growth unchanged at 1.0%🇨🇳 2023 China GDP growth improved to 5.2% (previously 5.1%)🇨🇳 2024 China GDP growth improved to 4.7% (previously 4.6%)While the prospects of most major economies are seen improving, global growth forecast is still expected to slow from their previous forecast. The organisation says that advanced economies are headed for a soft landing with the US economy in particular holding up better than expected. That being said, they say that the risk of a recession is not off the table yet. This article was written by Justin Low at
USD/BRL: Slight Push Lower Before Additional Impetus Arrives - 29 November 2023
29 Nov 11:03
The USD/BRL traded near its lows for the week in yesterday’s trading as full market volume returned to Forex via the return of U.S financial institutions.
Eurozone November final consumer confidence -16.9 vs -16.9 prelim
29 Nov 11:00
Economic confidence 93.8 vs 93.7 expectedPrior 93.3; revised to 93.5Industrial confidence -9.5 vs -8.9 expectedPrior -9.3; revised to -9.2Services confidence 4.9 vs 4.3 expectedPrior 4.5; revised to 4.6Euro area economic sentiment picks up in November, with an improvement to services sector conditions offsetting the decline in manufacturing. The latter is still very much in recession territory but so far the good news is that the overall economy is holding up better than expected when compared to the outlook during the summer this year. This article was written by Justin Low at
USD/SGD: Fresh Lows and Downwards Price Velocity on Display - 29 November 2023
29 Nov 10:47
The USD/SGD has produced new short and mid-term lows as the currency pair demonstrates bearish sentiment sustaining momentum.
UK October mortgage approvals 47.38k vs 45.00k expected
29 Nov 10:38
Prior 43.33k; revised to 43.68kNet consumer credit £1.3 billion vs £1.5 billion expectedPrior £1.4 billionGross lending fell to £16.2 billion in October, down from £18.1 billion in September as individuals repaid, on net, £0.1 billion of mortgage debt on the month - as opposed to £1.0 billion of net repayments in the month before. Meanwhile, the annual growth for consumer credit is seen increasing further to 8.1% - the highest since October 2018. This article was written by Justin Low at
Forex Today: Gold Close to Record High - 29 November 2023
29 Nov 10:36
Gold Reaches $2,050, Record High in Sight; Kiwi Boosted on Hawkish RBNZ; US Dollar at 3-Month Low; Australian Inflation Weaker Than Expected
No delay currently expected to OPEC+ meeting tomorrow - report
29 Nov 10:24
The sources also say that negotiations are still ongoing "but no delay is expected". This comes after some murmurs yesterday that there could be a further delay, after having seen disagreements over output quotas for African producers. The sources say that the group has moved closer to a compromise on said issue.WTI crude is up 0.4% today to $76.68, after the near 2% gains from yesterday already as prices recover following the setback from the OPEC+ meeting delay previously. This article was written by Justin Low at
Saxony November CPI +3.9% vs +4.5% y/y prior
29 Nov 10:13
The reading is out much earlier than expected, with the headlines captured by Reuters. The monthly reading shows a 0.3% decline in consumer prices. Put together with the other state readings, we might see German headline annual inflation come in between 2.9% and 3.2%, which is much lower than the 3.5% estimate and the 3.8% reading from October.That will be a welcome development for the ECB, although it could mean that we are one step closer to debating rate cuts. Dum dum dum. This article was written by Justin Low at
BOE's Bailey: We are not in a place now to be discussing interest rate cuts
29 Nov 08:29
That (the discussion) is not happeningWe have not seen enough evidence of inflation moving to 2% yet to be confidentWell, either way markets are still convinced that we'll get to this point by some time during the middle of next year. For now, with inflation still needing to trend lower, we can't expect policymakers to say as such - especially in the UK. This article was written by Justin Low at
Crude Oil Forecast: Waits for Cuts - 29 November 2023
29 Nov 08:19
The Crude oil markets exhibited limited activity during Tuesday's trading session, characterized by a palpable sense of anticipation as we await OPEC's forthcoming decision on its future supply strategy.
ECB's de Guindos: Our objective is to bring inflation back to 2% target
29 Nov 08:13
Rate hikes are both for borrowers and saversThat is part of our monetary policy transmissionIf savings become more attractive, consumers will spend less, reducing demandThis is what we aim for to push down inflationFull interviewBesides the above, there's not much else that he is touching on in terms of policy and inflation. Besides that, he does note that they are still preparing for the introduction of a digital euro amid their preparation phase over the next two years. This article was written by Justin Low at
DAX Forecast: Grapples with Significant Resistance - 29 November 2023
29 Nov 08:10
The DAX found itself very choppy on Tuesday, as the market is starting to approach an overbought condition.
ETH/USD Signal: Looks Stout - 29 November 2023
29 Nov 08:02
The Ethereum market opened Tuesday's trading session with a pullback, appearing to stumble momentarily before regaining its footing.
AUD/USD Forecast: Continues to Power Higher - 29 November 2023
29 Nov 07:54
The AUD/USD has witnessed a notable surge in the course of the trading session, propelling us beyond the pivotal 0.66 level.
USD/JPY Forecast: Looks for Buyers Against the Yen - 29 November 2023
29 Nov 07:38
The USD/JPY initiated Tuesday's trading session in the Asian market on a positive note against the Japanese yen.
S&P 500 Forecast: Looks Bullish but Needs a Break - 29 November 2023
29 Nov 07:26
During Tuesday's trading session, the S&P 500 experienced a slight pullback, continuing its trend of volatile behavior.
Silver Forecast: Stretches Again - 29 November 2023
29 Nov 07:17
During Tuesday's trading session, silver exhibited a relatively subdued performance, maintaining support at lower levels while encountering significant resistance above, before rallying yet again.
Natural Gas Forecast: Still Looking for Clarity - 29 November 2023
29 Nov 07:09
During Tuesday's trading session, the natural gas markets experienced a modest rally.
EUR/USD Forecast: Attempting to Breakout Still - 29 November 2023
29 Nov 06:59
During Tuesday's trading session, the euro initially experienced a decline but subsequently demonstrated a resurgence, indicating a potential buildup of momentum.
Gold Forecast: Looks to the Upside - 29 November 2023
29 Nov 06:52
Gold markets experienced another rally early on Tuesday, indicating a potential breakout from what appears to be a double-top pattern.
GBP/USD Forex Signal: Get Supercharged by the Tumbling USD - 29 November 2023
29 Nov 06:42
The GBP/USD pair continued its recovery as the risk-on sentiment accelerated following some positive news from Federal Reserve officials.
EUR/USD Forex Signal: Head and Shoulders Pattern Forms - 29 November 2023
29 Nov 06:35
The EUR/USD pair remarkable rally gained steam as the US dollar sell-off continued.
BOJ's Adachi: Difficult to end negative rates until positive wage-inflation cycle begins
29 Nov 06:29
Positive wage-inflation cycle has not happened yetBut if chances of it happening increases, then we can start discussing exit strategyDon't need to necessarily wait for it to turn positive to debate exit from negative ratesHe's certainly trying to keep their options open and that is arguably the wise thing as they already touted the spring wage negotiations next year as being the stepping stone for a policy pivot. It's now a question of following through on that. This article was written by Justin Low at
BTC/USD Forex Signal: Bitcoin Slowly Forms Rising Wedge Pattern - 29 November 2023
29 Nov 06:28
Bitcoin price continued its bullish trend as it reached its highest point since May 2022, helped by the dovish statement by Christopher Waller.
BOJ's Adachi says any big policy decision will have to wait until next year's wage talks
29 Nov 06:16
Will probably need to wait until the start of the next fiscal year in determining wage talks outcomeThe outcome will be crucial in making any big policy decisionsDoes not think BOJ are at the stage to discuss an end to negative ratesThat seems to be the consensus and what markets are also pricing in at the moment, that is the BOJ will use the shuntō in March/April as a springboard to push forward policy tightening. But as a reminder, that was already supposed to be the narrative this year. *coughs* This article was written by Justin Low at
More Fed speakers coming up Wednesday - another dovish tilt?
29 Nov 05:06
1500 GMT / 1000 US Eastern time: Fed Richmond President Thomas Barkin interview on CNBC1845 GMT / 1345 US Eastern time: Federal Reserve Bank of Cleveland President Loretta Mester speaks on "Financial Stability" The Fed appears to be tilting more dovish given comments on Tuesday:Forexlive Americas FX news wrap: US dollar slumps after Waller puts rate cuts on the tableFed's Goolsbee says he has some concerns about keeping rates too high for too long This article was written by Eamonn Sheridan at
US Treasuries yields slammed lower in Asia. 2 yr to a 4 month low
29 Nov 04:41
We had some dovish remarks from a hawk on Tuesday:Forexlive Americas FX news wrap: US dollar slumps after Waller puts rate cuts on the tableAnd also from Goolsbee: Fed's Goolsbee says he has some concerns about keeping rates too high for too longWith the private sector not be outdone:Hedge Fund chief Bill Ackman says Federal Reserve will cut rates sooner than expected ... as soon as Q1 next yearTreasuries have soared in Asia, yield plunging:2 year to a 4 month low 10s, 20s and 30s all to 2 month lows This article was written by Eamonn Sheridan at
Bank of England Governor Bailey will discuss Foreign Exchange market issues today
29 Nov 04:28
At 1505 GMT / 1005 US Eastern time:Bank of England Governor Andrew Bailey and the head of its markets division Andrew Hauser speakingAt an event organised by the London Foreign Exchange Joint Standing CommitteeThe Bank of England chairs the London Foreign Exchange Joint Standing Committee (FXJSC), which is a forum for discussion concerning the wholesale foreign exchange market:its a forum for market participants, infrastructure providers and the relevant UK public authorities to discuss conjunctural and structural issues concerning the wholesale foreign exchange market in the UK and the associated supporting infrastructureBank of England's Andrew Hauser appointed as Deputy Governor of Reserve Bank of Australia This article was written by Eamonn Sheridan at
Bank of Japan's Adachi denies speculation of ending negative interest rates
29 Nov 04:09
Earlier today we had comments from Bank of Japan Policy Board Member Adachi:BOJ official says yet to see positive wage-inflation cycle - easy policy to remainAdachi effectively stuck a floor under USD/JPY for the session with his denial that Governor Ueda is looking for ways to end the Bank's negative interest rate policy as a report in Japanese media yesterday stated:Japan media: Groundbreaking for the end of BOJ negative interest rates has finally begunAdachi emphasized that:recent tweaks to YCC were not policy changenow is not the time to say the Bank's inflation target has been metpolicy will remain easyUSD/JPY is back above 147.00. For now at least: This article was written by Eamonn Sheridan at
RBNZ Gov Orr says not bound by policy meeting dates, can act on shocks if needed
29 Nov 03:42
Earlier from Orr here:RBNZ Gov. Orr says forecasts show upward bias to rates, but not a done dealHe is still going, more: Global rates do matter to us, very tuned into that outlookWill make decision on debt to income restrictions early next yearSeeing credit growth slowing rapidly, our message on rates is being heededWe are saying rates need to be this high for some time to come, banks should listenWe are not bound by policy meeting dates, can act on shocks if neededscheduled Comfortable on waiting until the February meeting right nowDomestic inflation is causing the challenge, big part of that is dwelling costs The next Reserve Bank of New Zealand policy meeting is on February 28, 3 months away. Orr says the Bank can act on policy outside of a scheduled meeting, if needed. That'd put the wind into the NZD sails! This article was written by Eamonn Sheridan at
RBNZ Gov. Orr says forecasts show upward bias to rates, but not a done deal
29 Nov 03:16
RBNZ Governor Orr press conference following the policy decision:RBNZ leaves cash rate unchanged at 5.5%, as expectedRBNZ Policy Meeting: NZD/USD surgesVia Westpac:The risk of an RBNZ rate hike "is real"From Orr: Meeting with new PM was highly constructiveWe've been adamant on holding rates through next yearProjection shows upward bias to rates but it is not a done dealRisk to inflation is still more to upsideWe did discuss raising rates at this meetingHad a robust discussion about ratesNervous that inflation has been outside the band for so longconcerned that longer-term inflation expectations are creeping upBolding is mine. This article was written by Eamonn Sheridan at
The risk of an RBNZ rate hike "is real"
29 Nov 03:10
We had the Reserve Bank of New Zealand policy announcement earlierRBNZ leaves cash rate unchanged at 5.5%, as expectedand a jump for the kiwi$RBNZ Policy Meeting: NZD/USD surgesWestpac response (in brief): RBNZ ... was more hawkish on future prospects. RBNZ’s projections continue to reflect the risk of further increases in the OCR in 2024. An easing cycle looks quite some time off.RBNZ’s projections for the OCR were revised 10bp higher to a peak of 5.69% in September 2024, implying around a 75% chance of a further 25bp rate hike.The projections imply a gradual easing of policy from the first half of 2025. The long-run neutral OCR was adjusted up 25bp to 2.5%. ... more tightening may be required to ensure inflation returns promptly to targetBolding is mine. NZD/USD update: This article was written by Eamonn Sheridan at
RBNZ Governor Orr to speak soon - live link
29 Nov 02:50
The Reserve Bank of New Zealand policy decision is here:RBNZ leaves cash rate unchanged at 5.5%, as expectedand NZD response:RBNZ Policy Meeting: NZD/USD surgesThe Bank left the cash rate unchanged but raised its rate track slightly and said it'd hike again if needed. It also said rates need to remain high. It wasn't all hawk though, the Bank did say it was content with where the rate was for now. Orr speaks at 3pm New Zealand time, which is 0200 GMT and 2100 US Eastern time. I'll have pertinent headlines but if you'd prefer to tune in:Link to the conference is here. This article was written by Eamonn Sheridan at
BOJ official says yet to see positive wage-inflation cycle - easy policy to remain
29 Nov 02:33
Seiji Adachi is a Member of the Policy Board of the Bank of Japan.His comments are mixed but he is not expressing any rush to exit easy policy. Japan yet to see positive wage-inflation cycle become embedded enoughAppropriate to patiently maintain easy policyIf needed BOJ will take additional easing stepsSteps BOJ took in October to make YCC flexible not aimed at laying the groundwork for policy normalisation Japan's inflation expectations heightening moderatelySee risk to Japan's inflation outlook skewed to upside Companies starting to shed deflationary price-setting practicesHard to predict now whether wage hikes will continue next fiscal yearGiven high uncertainty over global economic outlook, there is risk japan's inflation, wages face downward pressureIf positive wage-inflation cycle strengthens, that could further push up prices This article was written by Eamonn Sheridan at
PBOC sets USD/ CNY mid-point today at 7.1031 (vs. estimate at 7.1340)
29 Nov 02:15
The People's Bank of China set the onshore yuan (CNY) reference rate for the trading session ahead.USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate.CNH is the offshore yuan. USD /CNH has no restrictions on its trading range.A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC.The previous close was 7.1369.The Bank has set the rate today is the strongest for the CNY since June 5.PBOC injects 438bn via 7-day RR, sets rate at an unchanged 1.8%460bn yuan of RRs mature todaythus a net 22bn yuan drain on the day in Open Market Operations (OMOs)In the face of growing public debt, Chinese financial regulators have been increasing liquidity at a never-before-seen rate in recent months in an attempt to contain short-term interest rate volatility. There have been six instances where China extended more than 1 trillion yuan in net liquidity in a weeklong span. Four of those weeks occurred in the months since September. This article was written by Eamonn Sheridan at
RBNZ Policy Meeting: NZD/USD surges
29 Nov 02:14
NZD/USD has spiked after the RBNZ policy meeting:RBNZ leaves cash rate unchanged at 5.5%, as expectedWhile the OCR is unchanged, as was very widely expected, the Bank raised its rate 'track' and also its estimate of the neutral rate. More at that link above. One-minute bars: (This chart is from our charting app, which is free and can be found at this link) This article was written by Eamonn Sheridan at
RBNZ leaves cash rate unchanged at 5.5%, as expected
29 Nov 02:00
Reserve Bank of New Zealand leaves its cash rate unchanged, as was very widely expected, but insists it'll remain restrictive with inflation still being too high. Indeed the track of the OCR from the Bank is slightly higher: Sees official cash rate at 5.63% in March 2024 (prior 5.58%)Sees official cash rate at 5.66% in December 2024 ( prior 5.5%)Sees official cash rate at 5.56% in March 2025 ( prior 5.36%)Sees official cash rate at 3.55% in December 2026More:Sees NZD TWI at around 70.7% in December 2024 ( prior 71.0%)Sees annual CPI 2.5% by December 2024 ( prior 2.4%)More: Interest rates are restricting spending in the economy and consumer price inflation is declining, as is necessary to meet the committee's remit.Interest rates will need to remain at a restricted level for a sustained period of timeHowever, inflation remains too high, and the committee remains wary of ongoing inflationary pressuresDemand growth has eased, but by less than anticipated over the first half of 2023 in part due to strong population growthThe committee is confident that the current level of the OCR is restricting demandThe OCR will need to stay restrictive, so demand growth remains subdued, and inflation returns to the 1 to 3 percent target rangeIf inflationary pressures were to be stronger than anticipated, the OCR would likely need to increase furtherBolding above is mine. The Bank seems happy with the rate where it is but is not ruing out further hikes. From the minutes of the meeting: Committee agreed that interest rates will need to remain at a restrictive level for longerMembers agreed they remain confident that monetary policy is restricting demandOngoing excess demand and inflationary pressures were of concern, given high core inflationMembers discussed the possibility of the need for increases to the OCRMembers agreed that with interest rates already restrictive, it was appropriate to wait for further data and informationMembers agreed that monetary policy was supportive of sustainable house pricesPressure in the labour market is easing, although employment remains above its maximum sustainable levelMembers also noted that most major central banks have indicated that they intend to retain current restrictive policy rates for longer, and are willing to tighten further, if requiredWhile growth in parts of the economy is slowing, there has been less of a decline in aggregate demand growth than expected earlier in the yearCommittee noted that the estimate of the long-run nominal neutral OCR has increased by 25 basis points to 2.50% This article was written by Eamonn Sheridan at
Australian dollar dips as monthly CPI falls short of expectations
29 Nov 01:43
The Australian dollar had dribbled a little lower heading into the CPI data and it dipped a little more in response to the lower than was expected headline:Australian monthly CPI for October 2023 4.9% y/y (vs. expected 5.2%)Headline lower than expectedThe core measure, underlying inflation, 'trimmed mean' was still 5.2%, down from 5.3% in SeptemberOctober data had a large 'goods' representation compared with services so it may be lower than it otherwise would have beenBut enough of the caveats, a December (meeting on the 5th) rate hike from the Reserve Bank of Australia now looks very unlikely indeed. As I noted earlier the monthly data is incomplete, we'll have to wait for the quarterly for a better read. that's not until January 31 2024 for the Q4 CPI q/q. The RBA then meet on February 5 and 6. This article was written by Eamonn Sheridan at
PBOC is expected to set the USD/CNY reference rate at 7.1340 – Reuters estimate
29 Nov 01:20
People's Bank of China USD/CNY reference rate is due around 0115 GMT.The People's Bank of China (PBOC), China's central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a "band," around a central reference rate, or "midpoint." It's currently at +/- 2% and some think it could widen to 3% this year. How the process works:Daily midpoint setting: Each morning, the PBOC sets a midpoint for the yuan against a basket of currencies, primarily the US dollar. The central bank takes into account factors such as market supply and demand, economic indicators, and international currency market fluctuations. The midpoint serves as a reference point for that day's trading.The trading band: The PBOC allows the yuan to move within a specified range around the midpoint. The trading band is set at +/- 2%, meaning the yuan could appreciate or depreciate by a maximum of 2% from the midpoint during a single trading day. This range is subject to change by the PBOC based on economic conditions and policy objectives.Intervention: If the yuan's value approaches the limit of the trading band or experiences excessive volatility, the PBOC may intervene in the foreign exchange market by buying or selling the yuan to stabilize its value. This helps maintain a controlled and gradual adjustment of the currency's value. This article was written by Eamonn Sheridan at
Hedge fund expert predicts early rate cut from the Federal Reserve
29 Nov 00:45
The US dollar is back near its Tuesday low (much lower against the JPY) as Asia morning comes to terms with the new-found dovishness at the FOMC:Forexlive Americas FX news wrap: US dollar slumps after Waller puts rate cuts on the tableFed's Goolsbee says he has some concerns about keeping rates too high for too longHedge Fund chief Bill Ackman says Federal Reserve will cut rates sooner than expectedAckman is not a Fed official but it's a sharp hedge fund guy. He's tipping a rate cut as early as Q1 next year. USD/JPY is down near 147.00: This article was written by Eamonn Sheridan at
Hedge Fund chief Bill Ackman says Federal Reserve will cut rates sooner than expected
29 Nov 00:20
Acman interviewed on Bloomberg TV, main points:I do think the economy is weakening. We're seeing evidence of that in some of our companies you're seeing. what's going to be interesting is to see what happens when people have to reprice their debt. And I think that can have sort of a cliff like effect. And you're certainly seeing that in real estate on the markets are assuming and the markets are not always right, but the markets are assuming that there's going to be a Fed cut sometime next year. Fed ... I think they're going to cut rates and I think they're going to cut rates sooner than people expectI think the market expects sometime middle of next year. I think it's more likely probably as early as Q1.Earlier we had some dovish remarks from Fed officials:Forexlive Americas FX news wrap: US dollar slumps after Waller puts rate cuts on the tableFed's Goolsbee says he has some concerns about keeping rates too high for too longBill Ackman, founder and CEO of Pershing Square Capital Management This article was written by Eamonn Sheridan at
Bank of America strategist predicts S&P 500 to 5000 in 2024, but concerns in the shadows
28 Nov 23:36
Bank of America’s head of U.S. equity and quantitative strategy Savita Subramanian spoke on Tuesday with CNBC. Analysts at the firm have a 5000 target for the S&P 500 by the end of 2024, saying the market has handled Fed rate hikes well. “There’s a high probability of pullbacks next year around various areas of concern, but I do think that we’re in a healthier market setup than we have been in a long time,” “The higher interest rates are gonna hit a lot of pockets of the economy, not necessarily public equities, because public equities have been marked for this environment ... public equity right now is marked to exactly what’s happened, and that is a high interest rate environment.”However, the picture is not without worries:“What I worry more about is all the stuff sloshing around in private equity, private credit, the shadow lending machine that’s been taking place for the last 10-15 years.”Federal Reserve Chair Powell This article was written by Eamonn Sheridan at
Fed's Goolsbee says he has some concerns about keeping rates too high for too long
28 Nov 23:10
Federal Reserve Bank of Chicago President Austan Goolsbee in a radio interview, headlines via Reuters: Of all pieces of data, housing inflation is most paramountMarket-based inflation expectations have been anchored Have some concern about keeping rates too high for too longOnce you believe you are on path to 2% inflation, amount of restrictiveness needs to be lessData will determine how fast we go---Goolsbee tends to be less hawkish than his FOMC colleagues. So his "concern about keeping rates too high for too long" is not out character. Unlike Waller earlier:Forexlive Americas FX news wrap: US dollar slumps after Waller puts rate cuts on the tableFrom the wrap:Fed Governor Chris Waller made a surprise turn, saying there are 'good arguments that if inflation continues falling for several more months that you could lower the policy rate'. It's the first time a Fed official has put rate cuts on the table and it's especially surprising coming from the normally-hawkish Waller.Still, Goolsbee backing it up in his interview is indicative of a reduction in hawkishness at the Fed. This article was written by Eamonn Sheridan at
XAU/USD gold price analysis today: Gold is stable around the highest level in 6 months
28 Nov 14:09
Explore the gold market trends: How US dollar dynamics, central bank actions, and geopolitical factors are influencing gold prices (XAU/USD) and what's next
USD/JPY analysis: Movement May Reach Buying Levels
28 Nov 14:02
Discover the latest USD/JPY market dynamics: Analysis of the Dollar/Yen's downward trend amid US economic data and Federal Reserve policy insights.
GBP/USD Analysis: Caution Against Profit-Taking Sales
28 Nov 13:58
Explore the latest GBP/USD trends and forecasts: Insights on the Pound's potential rise amid US economic data releases and technical analysis perspectives
EUR/USD Analysis: The Bulls’ Dominance Continues, But....
28 Nov 13:52
Get the latest EUR/USD analysis: Trends, expert insights, and key data impacting the Euro's movement against the US dollar in the dynamic forex market
TRY/USD Forecast: The TRY Records its New Lowest Levels Ever
28 Nov 12:53
The Turkish currency fell to record new lows against the US dollar during early trading on Wednesday morning.
S&P 500 Signal: Looking for Next Catalyst
28 Nov 12:28
During Monday's trading session, the S&P 500 exhibited a relatively subdued performance, reflecting a period of consolidation after its recent significant gains.
Silver Forecast: Looks for Higher Levels
28 Nov 11:58
Silver has experienced a notable rally during Monday's trading session, continuing the significant upward movement initiated on Friday.
Natural Gas Forecast: Looks for Buyers Below
28 Nov 11:39
The natural gas markets commenced the trading week with a gap to the downside, presenting a scenario that puts significant support levels into focus.
EUR/USD Forecast: Looks Stretched
28 Nov 11:31
The euro's trading session on Monday began with a notable drift to the upside, only to experience a reversal and subsequent decline.
Forex Today: Gold Grinds Up to New 6-Month High
28 Nov 08:33
Gold Trading Above $2,010 on Low Volatility, Record High in Sight; US Dollar at 2-Month Low; Crude Oil Continues to Decline

Crypto News

Chainlink Signal Resurfaces: Is Another 31% Rally Coming?
29 Nov 20:00
On-chain data shows that a Chainlink signal that last preceded a 31% rally for the asset’s price has just reversed. Chainlink Age Consumed Metric Has Observed A Sharp Spike Recently According to data from the on-chain analytics firm Santiment, LINK has recently seen a significant movement from old coins. The relevant indicator here is the “Age Consumed,” which tells us whether the dormant Chainlink tokens are on the move or not right now. When the indicator’s value registers a large spike, it’s a sign that the blockchain is currently observing the transfer of a significant number of old coins. Such dormant tokens belong to a cohort called the “long-term holders” (LTHs), made up of the relentless hands of the sector. Related Reading: XRP, BNB Among Altcoins Losing Correlation With Bitcoin: Data As such, this metric surging can be something to watch out for, as it means that these LTHs, who usually remain quiet no matter what’s going on in the wider market, have decided to break their dormancy. Now, here is a chart that shows the trend in the Chainlink Age Consumed over the last few months: The value of the metric appears to have shot up recently | Source: Santiment on X As displayed in the above graph, the Chainlink Age Consumed indicator has observed a sharp rise recently, implying that the LTHs have been making transactions. At the peak of this latest spike, the metric’s value touched 4.28 billion, which is the highest level seen since the middle of September. Back then, the indicator registered a spike almost double in scale, and interestingly, what followed in the next couple of weeks was a 31% rally as LINK went from $6.36 to $8.22. It’s hard to say if a similar pattern would repeat for Chainlink this time since the LTHs could have broken their silence for several reasons, including for selling. An analyst has pointed out that yesterday (which was about the same time as this spike in the Age Consumed), the whales made many transactions, as the chart below shows. Looks like the metric has spiked up | Source: @ali_charts on X In total, the Chainlink network observed 2,600 transactions valued over $100,000 yesterday. The spike would confirm that the LTHs who broke their dormancy weren’t just ordinary investors but the whales. Related Reading: Dogecoin To Double Its Price If This Barrier Breaks, Analyst Predicts In isolation, it’s hard to say why these two indicators recently observed a spike. Still, when looking at the latest LINK news, perhaps the most likely explanation becomes apparent. Yesterday, Chainlink staking v0.2 went live on the Ethereum blockchain, allowing the v0.1 stakers to migrate toward the new network. Thus, given the close timing of the spikes in the Age Consumed and Whale Transaction Count, it would appear quite probable that these LTHs were making transfers toward the new staking pools. LINK Price Chainlink had observed some drawdown towards the $13.7 mark just recently, but it would seem like the asset has already recovered as it’s now trading around $14.7. LINK has already recovered from its recent lows | Source: LINKUSD on TradingView Featured image from, charts from,
NFT sales and pricing are driven by luck, scarcity, and optimism, according to multiple studies
29 Nov 20:00
A glut of new research indicates that personal experiences may be the NFT market’s primary mover.
Price analysis 11/29: BTC, ETH, BNB, XRP, SOL, ADA, DOGE, TON, LINK, AVAX
29 Nov 19:48
Bitcoin is struggling to sustain above $38,000, but the bulls have not given up much ground, which some analysts say increases the chance of a rally to $40,000.
Bitcoin price fails $38.5K breakout as US GDP fuels Fed hard landing woes
29 Nov 19:36
BTC price encounters classic resistance as sellers refuse to let Bitcoin crack through its November ceiling.
Charlie Munger Meme Coin Pumps 31,000% After Bitcoin Hater's Death
29 Nov 19:35
The volatile coin has made millions on the death of famed investor Charlie Munger, who skewered the crypto industry as “contrary to the interests of civilization.”
BIS advises central banks to plan in advance for CBDC security
29 Nov 19:30
From legal issues to hackers, launching a CBDC is fraught with risks, and BIS has a big list of them to consider.
Coinbase CEO: We Asked the SEC for Feedback, All We Got Was a Lawsuit
29 Nov 19:26
In an exclusive interview with Decrypt, Brian Armstrong criticized U.S. regulators for treating crypto as a "jump ball" in an ongoing battle over which agency should police the market.
Northern Data Subsidiary Bolsters AI Capabilities With $362 Million Nvidia GPU Investment
29 Nov 19:15
On Wednesday, Northern Data Group, headquartered in Frankfurt and specializing in bitcoin mining, disclosed that its subsidiary, Taiga Cloud, has secured a significant acquisition of about 8,200 Nvidia H100 Tensor Core Graphics Processing Units (GPUs). These newly acquired units will complement Northern Data’s current collection of artificial intelligence (AI)-oriented hardware, following their previous acquisition of […]
ZKSpace Unveils Major Development: Expansion into BRC20 and Initial Plan for 2.0 Tokenomics Trilogy
29 Nov 19:00
PRESS RELEASE. ZKSpace has recently announced two significant developments: its expansion into the BRC20 ecosystem and the unveiling of its Tokenomics 2.0 Trilogy. Expansion into the BRC20 Ecosystem: Background: Following the BTC network’s Taproot upgrade, the BRC20 ecosystem has gained traction in the cryptocurrency domain. ZKSpace is now pivoting towards this ecosystem to meet growing […]
A Golden Opportunity For Ethereum? 600% Buy Signal Returns
29 Nov 19:00
Ethereum has formed a “golden cross” pattern on the 1-week timeframe, marking the second such signal this year. While the long-term implications could be very positive if history repeats itself, there are reasons to temper expectations. A weekly golden cross has formed | ETHUSD on Ethereum Golden Cross And A Possible Target For New ATHs 1W ETHUSD has formed a golden cross for the second time in 2023. A golden cross is a buy signal in moving average-based trading systems. It suggests that the trend is moving in an upward direction and because trends tend to persist, this is notable. The golden signal occurs when a shorter-term moving average (the 50-week MA) crosses through a longer-term moving average (the 200-week MA) from below. A death cross forms when the opposite happens. Related Reading: This Pattern Points To $10,000+ Ethereum Price, But When? The last confirmed golden cross for Ethereum in December 2020 preceded a massive 600% rally over the next year to the asset’s all-time high near $4,900. A repeat move of similar magnitude this time would put Ethereum above $12,000—over six times today’s price of around $2,000. However, it is important to note that not all golden crosses lead to the anticipated upside. In 2023 alone, 1W ETHUSD has death crossed and golden crossed twice now, demonstrating how moving average-based systems are prone to whipsaw without an established trend to follow. Above 20 on the ADX confirms the trend | ETHUSD on An Uptrend Or More Whipsaw? How The ADX Confirms Trends The whipsawing death cross and golden cross price action on the Ethereum 1-week chart failed to generate follow-through in either direction. So how can we be sure that this isn’t yet another premature crossover? This is where the Average Directional Index (ADX) comes in when gauging the validity of moving average crosses. The ADX aims to measure trend strength, typically on a scale of 0 to 100. Related Reading: Ethereum Price Prediction for 2023, 2024, 2025, 2030 and Beyond As the 1-week ADX edges up from below 20, it confirms growing momentum that reduces the odds of more whipsawing price action. Traders often use such ADX readings to confirm golden/death crosses and enter only the most high-conviction signals. The 1W ETHUSD Average Directional Index isn’t yet above 20, but is approaching this key level. Above it, it gives the golden cross much more validity. Tony is the author of the CoinChartist (VIP) newsletter. Sign up for free. Follow @TonyTheBullBTC & @coinchartist_io on Twitter. Or join the TonyTradesBTC Telegram for daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice. Featured image from Shutterstock, Charts from
Paxos receives in-principle approval to issue stablecoins in Abu Dhabi
29 Nov 19:00
The approval followed a similar move by regulators in Singapore, where Paxos said its local entity would launch a U.S. dollar-backed stablecoin.
Bondex: Changing the Recruitment Landscape for Users Benefits
29 Nov 18:49
PRESS RELEASE. London, United Kingdom, 29th November, 2023. Bondex, the groundbreaking decentralized professional talent network, is proud to announce the launch of its innovative Job Portal, marking a paradigm shift in the recruitment landscape. In partnership with some of the biggest names in the space for their first external marketing campaigns, including names like Coinlist […]
Crypto Stories: Charlie Shrem tells how he became a Bitcoin millionaire
29 Nov 18:46
Shrem made a fortune off his Bitcoin payment service, BitInstant, but then went to prison for alleged money laundering.
XRP Community And Cardano Founder Engage In Heated Clash
29 Nov 18:00
The XRP community and Charles Hoskinson, the founder of Cardano, are currently in the cryptocurrency spotlight as both parties have been involved in a fiery dispute lately. XRP Community And Charles Hoskinson Face Off On Tuesday, November 28, an XRP community member, Mr. Huber, took to X (formerly Twitter) and called out Charles Hoskinson. The post was accompanied by a snippet video of Hoskinson calling the XRP community conspiratorial. The post read: I’m sorry, @IOHK_Charles, but for two years you did everything you could to make the #XRPcommunity to look ridiculous and embarrass us in public. I know you offered peace, but only to come out of nowhere and call us crazy conspiracy theorists again. No look at you. It’s funny what can happen in a year, isn’t it? Mr. Huber’s X post criticized the Cardano founder on the previous statements he made towards Ripple. Basically, about Ripple’s allegations of corruption in the United States Securities and Exchange Commission’s (SEC) ranks. Related Reading: Ripple CEO Offers Perspective On Legal Fallout With The SEC Mr. Huber asserts that Hoskinson assisted in the “trivialization and cover-up of Joseph Lubin’s corruption.” According to Huber, it didn’t help the founder because Cardano’s native coin, ADA, is now categorized as a security by the SEC.  In response to the accusations, the co-founder asserted that Huber was unaware that he was paying for Lubin’s price. The Cardano founder stated: You believe that assisting in the trivialization and cover-up of Joseph Lubin’s corruption is a constructive approach to bringing clarity to Cardano. But the opposite is true. Joseph Lubin is smirking in your face because you don’t realize that you are paying for Lubin’s price. Hoskinson further restated that there is no proof of the allegations against the Ethereum co-founder Joe Lubin. As Hoskinson believes, Joseph Lubin did not influence the SEC’s decision to treat Ethereum differently than XRP. Hoskinson stated: Still waiting on a single piece of evidence for the latter. If you cannot provide it, then yes, you are spreading conspiracies and slander. That’s what this has been about for two years now. And somehow you guys still fight. Serious Allegations Need Solid Evidence Hoskinson’s criticism of the dissemination of slander and conspiracies highlights the importance of solid evidence before accusing people of serious allegations. However, members of the XRP community have since criticized Charles Hoskinson’s remarks on the issue. Related Reading: Cardano Founder Addresses ETHGate Rumors: Did Ethereum Bribe The SEC To Go After XRP? So far, the Cardano founder asserted that his rejection of the allegations is unrelated to whether Ethereum received a free pass from the SEC. He further discerns between “unsubstantiated conspiracy” theories and what he believes is a valid criticism of regulatory approaches toward cryptocurrencies. Featured image by iShock, chart by
Solana Gets Some Shine: Ethereum Rival Rallies Again
29 Nov 17:46
Solana beat all other major coins and tokens Wednesday by experiencing a price surge after cooling its November rally.
US Treasury sanctions crypto mixer Sinbad, alleging North Korea ties
29 Nov 17:22
The government department has previously imposed sanctions on crypto mixers Blender and Tornado Cash despite many in the space pushing back on actions against software tools.
Bitcoin Mining Could 'Mitigate' Climate Change: Cornell Study
29 Nov 17:16
The study found that wind and solar farms could generate millions of dollars in the precommercial phase before they're connected to the grid.
SoFi Technologies to cease crypto services by Dec. 19
29 Nov 17:12
“You can agree to have your account migrated to or close your account instead,” the company wrote.
Is $20 On The Cards? LINK Price Rides High With Chainlink Staking v0.2 Rollout
29 Nov 17:00
Chainlink, a widely used distributed computing platform, has recently introduced an upgrade to its staking capabilities. Known as Staking v0.2, this new version adds an extra layer of security to the network and stands as a key component of Chainlink’s Economic 2.0 strategy. The anticipated duration for the migration of the protocol for the current v0.1 stakeholders is nine days. Users cannot transfer their staked LINK or the associated rewards to version 0.2 at this time. According to the most recent data, LINK was trading at a price range of $14.7 to $14.9, representing a monthly growth of over 30%. The majority of LINK oscillators exhibit a consistent optimistic bias. The Relative Strength Index (RSI) indicates a possible purchasing opportunity at 50. #Chainlink Staking v0.2 is officially live on mainnet ⬡ Starting today, existing v0.1 stakers have a nine-day window to migrate their staked LINK and accrued rewards to the 45M LINK v0.2 pool, with guaranteed access before Early Access begins. 🧵 — Chainlink (@chainlink) November 28, 2023 Chainlink (LINK) is experiencing an extraordinary quarter, having gained nearly 100 percent since the start of October. At the time of writing, the altcoin had risen as high as 12th among the largest cryptocurrencies by market capitalization. LINK holders may still have more to look forward to, as on-chain data indicates that the recent ascent of the token has created favorable conditions for the formation of robust support levels. Among these strongest support levels, according to data provider IntoTheBlock, is the region between $13.15 and $13.50. Related Reading: LUNC Soars Over 70% – Temporary Spike Or Sustainable Climb Ahead? Chainlink: Staking And Migration Advancements LINK maintains its favorable outlook in spite of the general market volatility that has ensued since the regulatory issues faced by the Binance exchange and the discourse surrounding exchange-traded funds (ETFs). LINK market cap currently at $8.21 billion on the daily chart: Whale Transactions Up With the launch of the v0.2 migration, the industry-leading Oracle network Chainlink has provided stakers with a more flexible staking platform. In addition, it features an adaptive rewards system, enhanced security guarantees, and a modular architecture. Santiment, a market intelligence platform, reports that whale transactions (see chart below) comprising LINK worth a minimum of $100,000 increased by 1,145% in the previous day, from 176 transactions on November 28 to 2,198 transactions as of the time of writing. Source: Santiment Rapid growth in whale activity is typically associated with increased volatility in an asset. Furthermore, according to data from Santiment, LINK experienced a marginal increase in total open interest (OI) within the last day, rising from $211 million to $213 million. Eleven months have passed since the protocol’s December 2022 introduction of staking on the Chainlink network. A press statement from Chainlink on November 28th stated that the v0.2 update includes an increase in the amount of the staking pool to 45 million LINK. LINK price action in the last seven days. Source: Coingecko The aforementioned figure signifies a 96% growth from the initial allocation of 22.5 million LINK to the staking pool in December, which accounted for 8% of the altcoin’s circulating supply at the time. Related Reading: Revving Up: Solana Bulls Ready To Charge As Analysts Predict Rally Beyond $80 LINK Price Analysis: Eyes On The $20 Mark Meanwhile, with Chainlink’s Staking v0.2 in play, LINK’s value is on the rise, prompting the question: Will it hit $20? The excitement is building as investors keep a close eye on the numbers. The recent boost in LINK’s price has people hopeful about reaching that $20 mark. As the crypto world unfolds, it’s a waiting game to see where LINK’s journey takes us next. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from Shutterstock
'District 9' Director's Shooter 'Off the Grid' Launches Mobile Game Amid Avalanche Subnet Rollout
29 Nov 17:00
In an exclusive interview, Gunzilla Games CEO Vlad Korolev shares the latest plans for Off the Grid and its many crypto integrations.
Why JSON-LD matters for Web3
29 Nov 17:00
Web3 is confusing because it’s still in its formative stages. Nobody quite knows which inventions will shape it next.
AI-Focused Cryptocurrency Sector Expands by $2 Billion in Less Than 2 Weeks
29 Nov 16:30
Recent market data reveals a significant surge in the AI-focused cryptocurrency sector, with its value ballooning by nearly $2 billion in just under two weeks. A major contributor to this growth is the token bittensor (TAO), which soared 86.5% in the last fortnight. AI Crypto Economy Rebounds Strongly In the AI-oriented crypto landscape, the past […]
Dogecoin Holders Cross 5 Million, Catalyst For Price To Reach $0.1?
29 Nov 16:00
Dogecoin holders just surpassed 5 million addresses this week, a huge milestone for the meme cryptocurrency. According to data from on-chain analytics platform IntoTheBlock, Dogecoin addresses have been growing steadily since the beginning of the year. At the same time, DOGE is up by 43% from its October bottom of $0.056.  However, this growth is still small when compared to other popular cryptocurrencies, as DOGE is still yet to reach $0.1 this year. This major growth in addresses could be the catalyst needed for Dogecoin to reach its next price target to push it to $0.1. New Milestone For Dogecoin The Dogecoin community is one of the most active in the crypto industry, and the meme token is currently in the 8th spot in terms of market cap. According to IntoTheBlock’s Total Addresses metric, the total number of addresses with a balance crossed over 5 million this week to reach a high of 5.11 million on November 27th. At the time of writing, this metric still stands at over 5 million with 5.1 million addresses. Source: IntoTheBlock The surge of new Dogecoin addresses is largely due to growing growing interest and adoption of the cryptocurrency. On the price action end of things, DOGE has increased by 9.00% in a 7-day timeframe as most cryptocurrencies start to turn a profit again after a few weeks of consolidation.  At the same time, IntoTheBlock’s large transaction metric which measures transactions with a value larger than $100,000 has been increasing, reaching a total of $2.08 billion in the past seven days. Balance Among Addresses Despite the rise in addresses with a balance, the holding distribution shows that most of the tokens are concentrated in a few addresses. Around 4.48 million addresses representing 95.5% of the total addresses hold just 1.59% of the total circulating supply. On the other hand, just 700 addresses hold 81% of the total supply.  Source: IntoTheBlock There’s also been a surge in the number of daily transactions, with a 102.09% increase in the number of new addresses and an 89.70% increase in the number of active addresses. Notably, there were 221,330 active DOGE addresses on November 27th. According to IntoTheBlock, this is most likely driven by Dogecoin Doginals. DOGE’s ascent to $0.1 this year seems bleak at the moment, as the crypto will have to go on another 25% increase from its current price in December. DOGE is currently trading around a prior resistance at the $0.081 level and has formed support just around the $0.071 level.   A continued inflow into addresses could see DOGE break above the resistance, and continue its price surge. The next hurdle would be to break above $0.087 before getting to $0.1 for the first time this year. DOGE price falls below $0.08 | Source: DOGEUSD on Featured image from Binance Academy, chart from
Wormhole raises $225M at $2.5B valuation
29 Nov 15:42
The protocol reached a total value locked of $3.8 billion at its peak.
Real AI use cases in crypto, No. 3: Smart contract audits & cybersecurity
29 Nov 15:30
Experts say AI has huge potential in smart contract audits and crypto security in future. Unfortunately, ChatGPT sucks at it right now.
Poloniex prepares to resume withdrawals after $100M hack
29 Nov 15:19
Poloniex says it will start resuming deposits on Nov. 30 with TRX, the cryptocurrency of Justin Sun’s Tron blockchain.
Bitcoin Ordinals Marketplace Bioniq Launches—On Internet Computer
29 Nov 15:01
Backed by Polychain, Bioniq uses Internet Computer like a Bitcoin layer-2, tapping into its time and cost savings via wrapped assets.
Dogecoin To Double Its Price If This Barrier Breaks, Analyst Predicts
29 Nov 15:00
An analyst has explained how Dogecoin breaking the $0.087 barrier could open the path to DOGE price levels nearly double the recent ones. Dogecoin Has Three Important Lines Converging At $0.087 Right Now In a new post on X, analyst Ali has discussed what the weekly chart of DOGE is looking like right now in terms of some important historical lines. In particular, the levels of interest here are the 100-week EMA, 200-week EMA, and 0.786 Fibonacci. A “moving average” (MA) refers to an analytical tool that calculates the mean of any given quantity over a specific period of time, and as its name implies, it moves in time and changes its value as the quantity fluctuates. Related Reading: Bitcoin Bull Run Is Only Just Starting, According To This Metric This basic tool is quite useful as it smooths out the curve by removing local fluctuations, making a study of long-term trends easier to perform. In the context of the current topic, though, a normal MA isn’t of focus, but rather a modified form called the exponential moving average (EMA). The EMA works like the usual MA, except it places a greater weight on the most recent readings of the quantity. What this means is that the older the reading, the less weightage it has in the metric, so the line’s changes reflect the latest price direction more strongly. Now, here is a chart that shows the trend in the 100-week and 200-week EMAs for Dogecoin, as well as the weekly price curve of the meme coin: Looks like the asset's weekly value has been interacting with these lines recently | Source: @ali_charts on X As is visible from the above graph, these two Dogecoin EMAs have approached each other recently and have converged into a narrow range around the $0.087 level. In the past, these two EMAs of the cryptocurrency have posed resistance to the price and it appears that the weekly chart of Dogecoin has been struggling with them again, as it has been finding rejection here during the past three weeks. These two lines aren’t the only ones converging near $0.087, however; it would appear that the 0.786 Fibonacci level is doing the same. The Fibonacci levels listed in the chart are some ratios derived from the famous Fibonacci series. In this series, dividing any number (except for the first few) by its succeeding number always gives a ratio of about 0.618. The square root of this number is 0.786, which is the level the analyst has marked here. Related Reading: XRP, BNB Among Altcoins Losing Correlation With Bitcoin: Data Dogecoin thus has a major wall at $0.087, made up of the convergence of all these historically significant lines. “Breaking past this barrier could open the gates for DOGE to nearly double its price, aiming for a target of $0.14,” explains the analyst. DOGE Price Dogecoin has observed a surge back above the $0.080 mark during the past day, as the below chart shows. It now remains to be seen if the coin will go on to retest this $0.087 level that might be so crucial for the coin. DOGE has registered some rise in the last 24 hours | Source: DOGEUSD on TradingView Featured image from Kanchanara on, charts from
Bitcoin NFT marketplace Bioniq eyes lofty goal of alleviating network congestion
29 Nov 15:00
Bioniq operates on the Internet Computer Protocol, tapping into native Bitcoin integration to ease the network congestion and high fees associated with Ordinals inscriptions.
Iota launches $100M Abu Dhabi foundation for Middle East expansion
29 Nov 14:22
The Iota Ecosystem DLT Foundation is the first to receive approval from regulators in Abu Dhabi after its financial authority passed a new, related law earlier in the month.
Huddle01 CEO explains why communications tech must be decentralized
29 Nov 14:20
Huddle01 CEO Ayush Ranjan tells The Agenda podcast why centralized communications technology is unreliable and requires a decentralized alternative.
Santander appoints crypto custodian Taurus to safeguard Bitcoin, Ether: Report
29 Nov 14:17
An unconfirmed report suggests Taurus will provide crypto custodial services to Spanish financial services giant Banco Santander.
Bitcoin Technical Analysis: BTC Bulls Attempt to Break Upper Resistance
29 Nov 14:15
The price of bitcoin is hovering just above the $38K range after a bullish trading day on Tuesday following U.S. Federal Reserve Governor Chris Waller’s dovish speech. Bitcoin’s 24-hour range has been between $37,156 to $38,450 and it currently has a market capitalization of around $745 billion. Bitcoin As bitcoin’s price hovers around $38,275, a […]
Jack Dorsey wants to decentralize Bitcoin mining with new investment
29 Nov 14:02
Ocean, which raised $6.2 million in a funding round led by Jack Dorsey, plans to enable miners to get block rewards directly from Bitcoin.
‘Stagnant’ BTC Price and Rate Hikes Drove Down Crypto Miner Canaan Inc’s Revenues in Q3
29 Nov 14:00
Canaan Inc, the crypto miner and mining rig producer, said the company’s overall revenue in Q3 stood at $33.3 million or some $40 million lower than the Q2 revenue. According to the company’s CEO, stagnant bitcoin prices and rate hikes by the U.S. Federal Reserve were some of the key factors that contributed to the […]
How can NFTs transform daily life?
29 Nov 14:00
By now, hearing "NFT” in any context evokes some sort of reaction — good or bad.
UK crypto hodlers get a call from the tax grinch
29 Nov 13:54
His Majesty’s Revenue and Customs has issued a warning to crypto, NFT and utility tokenholders about paying their taxes on time or facing the consequences.
Trading Guru John Bollinger Warns Of Buying Litecoin, Here’s Why
29 Nov 13:45
In his latest analysis, legendary trader John Bollinger has expressed concerns over Litecoin’s performance, particularly in comparison to Bitcoin. Bollinger, known for developing the popular technical analysis tool Bollinger Bands, highlighted a worrying pattern in the Litecoin market. He remarked, “I was asked for an analysis of LTCBTC. The thing that concerns me the most is its underperformance vs Bitcoin. From a price perspective the controlling LTCUSD feature is the 2 bar reversal at the lower Bollinger Band which is typically considered a bearish signal by traders.” Bollinger’s Bearish Litecoin Prediction Explained The chart of the LTC/USD pair provided by Bollinger on November 28, 2023, shows Litecoin’s price action in relation to its Bollinger Bands on both a daily and weekly scale. The price is currently hovering around $69.566, which is significantly lower than the upper Bollinger Band, suggesting a lack of bullish momentum. Related Reading: Litecoin Sustains 4-Month Run With 37% Gain, Beating Most Of Its Peers – Details The Bands form by plotting a range of standard deviations above and below a simple moving average, commonly enveloping the price action. In this chart, the daily vs. weekly candles chart shows that the LTC/USD price is struggling beneath the midpoint of these bands, which is a bearish indication. The price currently near $69.566 is substantially below the upper band level of around $90, which represents a potential resistance level. The Bollinger Bands (BB) on the chart are set with a 20-period moving average with a 2 standard deviation range. Bollinger’s analysis points to a ‘2 bar reversal’ pattern at the lower band. This pattern emerges when a bar reaches a high above the preceding bar but then closes below the close of that same previous bar, hinting at a possible reversal from the uptrend. Such a pattern took place near the lower band, indicating that any effort to drive the price higher meets with resistance, and the prevailing selling pressure is taking hold. Related Reading: Litecoin Whales Are Back In The Game, Can Price Reach $100? The Bollinger %B indicator is also crucial here as it compares the price of Litecoin to the range defined by the Bollinger Bands. A %B value below 0.5 indicates that Litecoin’s price sits nearer to the lower band than to the upper band, potentially signaling weakness. The chart shows the indicator failing to cross the 0.5 level after a plunge toward 0, signifying that the price frequently touches or falls below the lower band. LTC Price Under Pressure The Bollinger Band Width (BBW) serves as another indicator, measuring volatility by assessing the Bollinger Bands’ width. A narrowing of the Bands, as seen in the latter part of the chart, suggests a decrease in volatility and often precedes a significant price movement. In this context, the BBW’s narrowing on the Litecoin chart might indicate that the market is tensing, possibly gearing up for an impending breakout or breakdown. When Bollinger mentions Litecoin’s underperformance relative to Bitcoin, it’s important to note that Bitcoin often leads the crypto market trend. If Litecoin is not keeping up with Bitcoin’s movements, it could suggest a lack of confidence or interest from traders in altcoins (as the current rise in Bitcoin dominance shows) and Litecoin specifically. In summary, Bollinger’s technical analysis indicates that Litecoin is in a precarious position. The price action at the lower Bollinger Band, the bearish ‘2 bar reversal’ pattern, the sub-0.5 Bollinger %B values, and the narrowing BBW all suggest that Litecoin may continue to see downward pressure in the near term. At press time, Litecoin traded at $70.05. The 1-day chart of LTC/USD shows that the altcoin fell below the key support of the 0.236 Fibonacci retracement level at $69.98 two days ago. A retest is currently taking place, a daily close above this is of utmost importance for the Litecoin price. Featured image from Unsplash / Kanchanara, chart from
Stakeholder urges swift implementation of Nigeria’s blockchain policy
29 Nov 13:17
SiBAN president Obinna Iwuno stressed the necessity of establishing a forward-thinking regulatory framework to accelerate the infusion of blockchain technology into diverse sectors of the economy.
Shrapnel (SHRAP) Collaborates with LBank Exchange for Upcoming Trading Opportunities
29 Nov 13:00
PRESS RELEASE. Road Town, BVI, November 29, 2023 – LBank Exchange, a global leader in digital asset trading, is set to enhance its platform by introducing Shrapnel (SHRAP), a pioneering blockchain-enabled first-person shooter game. This collaboration marks a significant milestone for both entities in the digital asset space. About Shrapnel (SHRAP) Shrapnel is being hailed […]
BIS Innovation Hub presents its ‘private CBDC’ project
29 Nov 12:59
The Bank for International Settlement’s Project Tourbillon features two eCash prototypes, the first providing “unconditional payer anonymity” and the second being “more resilient” in security terms.
Bitcoin Spot ETF: SEC Delays Fail To Stop BTC As Price Clears $38,000
29 Nov 12:15
The Securities and Exchange Commission’s (SEC) latest decision wasn’t enough to hold back the foremost cryptocurrency, Bitcoin. The cryptocurrency crossed $38,000 even on the back of the SEC’s move to delay two Spot Bitcoin ETFs.  SEC Delays Templeton And Hashdex Bitcoin Spot ETF On November 28, the SEC delayed its decision on Templeton and Hashdex’s Spot Bitcoin ETF application. As part of the announcement, the Commission also invited comments on what has been its major concern up till now: the issue of fraud and manipulation and whether or not the surveillance agreements in place can help curb that.   Related Reading: Analyst Uses 5200% Impulse Against Bitcoin To Predict XRP Price Surge To $9.6 Despite this development, the crypto market seemed unperturbed as Bitcoin crossed $38,000, and altcoins also posted some gains. This would come as a surprise to many, considering that the latest momentum in the market has been attributed majorly to the possibility of a Spot Bitcoin ETF approval. A plausible explanation could be the fact that investors are certain that approval is imminent, irrespective of the actions of the Commission. This is evident in the fact that institutional money keeps flowing into the crypto market. CoinShare’s latest report showed that the crypto market, last week, saw its largest weekly inflow since late 2021.  Meanwhile, the SEC’s latest delay is an interesting one, considering that a decision on both applications wasn’t due until January 1, 2024. This has led to several speculations as to whether or not this move still means that approval is on the horizon.  BTC price at $38,140 | Source: BTCUSD on SEC’s Latest Delay May Be A Good Sign In a post shared on his X (formerly Twitter) platform, Bloomberg analyst James Seyffart questioned the SEC’s actions and what it could mean for a potential approval. He reasoned that the SEC’s decision could be setting things up for a “full wave of approvals” in early January. The analyst had previously put the likelihood of an approval in January 2024 at 90%.   Related Reading: Crypto Analyst Predicts 4400% XRP Price Surge To $27, Here’s When He further stated that the delay on Hashdex’s application (Hashdex’s announcement came shortly after Templeton’s) confirmed his reasoning. He believes that the SEC is moving to set up all applicants for potential approval by January 10, 2024. He quickly noted that these approvals would be for the 19b-4 and didn’t necessarily mean an immediate launch.  Scott Johnsson, a notable attorney from Davis Polk, also shared the same sentiments as Seyffart. He stated that the SEC might have chosen to delay these applications early so that the comment period could end before January 10, 2024. That way, they can approve all applications at the same time.  Featured image from Forkast News, chart from
Animoca Brands Now the Largest Validator on TON Network
29 Nov 12:00
Animoca Brands is now TON blockchain’s largest validator and will henceforth “provide funding, research, and an analytics platform.” The software company said Animoca’s collaboration with TON further reinforces its commitment to the latter’s ecosystem. The Animoca Brands chairman said the investment in TON underscores his organization’s desire to help onboard the next million Web3 users. […]
LUNC Soars Over 70% – Temporary Spike Or Sustainable Climb Ahead?
29 Nov 11:05
Terra has stirred considerable attention of late, experiencing an impressive surge in prices that has left market observers intrigued. The catalyst behind this upward trajectory can be largely attributed to notable advancements within the Terra Ecosystem. A recent substantial capital infusion likely instilled significant confidence among investors, acting as a driving force behind the recent upswing in LUNC prices. Related Reading: Revving Up: Solana Bulls Ready To Charge As Analysts Predict Rally Beyond $80 Examining The Factors Behind LUNC’s Meteoric Surge In the last month, LUNC has been on quite a ride, marking an impressive 90% surge in its value. This has triggered discussions, prompting questions about whether this surge is just a momentary spike or the initiation of a more enduring upward trajectory. The remarkable boost in LUNC’s value finds its roots in a couple of noteworthy events unfolding within the Terra ecosystem. Specifically, Terra Classic Labs strategically invested around $500,000 into TerraClassicUSD (USTC), the algorithmic stablecoin linked to the Terra platform. Our $LUNC and $USTC weekly burn numbers have come in. We had a bumper week, with GIGANTIC burns in both.#LUNC finished the 7-day period with 702M 🔥🔥🔥#USTC finished the week with 2.2M 🔥🔥🔥 We are on track to have the biggest month with regards to the #LuncBurn movement… — titan2022 (@titan20221) November 27, 2023 The considerable token burn that has taken place recently is another key driver of the rally. The quantity of LUNC tokens in circulation has decreased to 5.8 trillion due to the destruction of around 78.24 billion of them, which could put more pressure on the token’s price. The cryptocurrency industry frequently uses this process of token burning to control inflation and increase token value by lowering supply. Related Reading: XRP Market Drama: Ups, Downs And The $3 Horizon – Experts Weigh In On The Future LUNCUSD currently trading at $0.0001199 on the daily chart: LUNC Showing Bullish Side According to data from Coingecko, the price of LUNC has now surged by over 80% this month, with a 71% increase tallied this week in response to the announcement of Mint Cash and Binance’s launch of the USTC perpetual contract. Furthermore, the increase happens a week after Terraform Labs allocated $10 million in assets among three different liquidity pools. As of writing, LUNC is trading at $0.00011. With a $513 million daily trading volume, LUNC’s market capitalization of $661 million places it as the 79th largest cryptocurrency asset. LUNC’s indicators are all in very positive positions, which is not surprising given that the coin has increased by more than 30% in a single day. Before the present rally loses momentum, its relative strength index (purple) may peak at near to 90. Whales are waking up and jumping into #LUNC 👀✈️🚀🚀🚀🚀 — Bull.Lunc (@Bullluncdao) November 27, 2023 The coin’s 24-hour trading volume, which has increased from less than $20 million to more than $600 million virtually overnight, is arguably the most encouraging of all. This surge implies that whales have finally made a comeback to the token, pilfering more of it and igniting a broader rally. Meanwhile, LUNC and USTC reported milestone price increases over the previous week, according to data from the crypto intelligence tracker Santiment. As a result of the two coins’ historic weekly gains, LUNC and USTC are now the top moving cryptocurrencies on Santiment’s tracker. Source: Santiment Santiment’s analysts predict that the milestone price rallies in both cryptocurrencies are probably signs that investors are suffering from FOMO, or the fear of missing out on these tokens’ gains, which has propelled the assets to the top of the list, surpassing both Bitcoin and Cosmos. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from iStock
Ethereum donations top Save the Children HODL Hope Campaign
29 Nov 11:03
While Ether represents 50% of the total crypto donations made to Save the Children’s HODL Hope Campaign, Bitcoin donations amount to 34% of the lot so far.
Security audits ‘not enough’ as losses reach $1.5B in 2023, security professional says
29 Nov 10:59
CertiK co-founder Ronghui Gu told Cointelegraph that it’s “inexcusable” the industry faces continued SIM-swap and multisig failures, as previous incidents already highlighted the issues.
Bitcoin gets ‘whale games’ warning as BTC price eyes $40K into US data
29 Nov 10:58
Bitcoin whales may yet spark mass profit-taking should BTC price action target $40,000 or higher.
Aerodrome and Velodrome DeFi platforms experience front-end hacks
29 Nov 10:56
The DeFi platforms Velodrome and Aerodrome took to social media to warn users that the front-ends for both platforms were under attack from malicious actors.
Zipmex proposes to pay creditors 3 cents per dollar
29 Nov 10:40
The proposal came as a part of a restructuring offer from the embattled Thai crypto exchange, which owes its customers $97 million.
Circle Partners With SBI Holdings to Launch USDC in Japan
29 Nov 10:00
Circle, a payment services company, and SBI Holdings, a conglomerate of financial companies, have partnered to bring liquidity services for the use of USDC, one of the largest stablecoins in the cryptocurrency market, to Japan, and promote the local use of stablecoins in the Web3 industry. Circle Partners With SBI Holdings to Promote USDC in […]
Binance operating without license in Philippines, regulator says
29 Nov 09:34
According to the Philippines SEC, entities involved in promoting or trading on Binance could face up to 21 years of imprisonment and $90,000 in penalties.
XRP Price Set For 20% Leap In Coming Days: Crypto Analyst
29 Nov 09:05
In a recent technical analysis published by crypto analyst Egrag, an inverse head and shoulders (H&S) formation has been identified on the XRP/USD chart, indicating a potential bullish reversal in the near term. The pattern, which has been forming over the last two weeks, suggests that XRP could be setting up for a significant price jump. XRP Price Poised For Imminent 20% Jump? The chart by Egrag showcases the XRP price action in a 4-hour time frame, where it has been trading within a descending channel (blue) since the beginning of November. A descending channel is typically considered a bearish pattern. However, last Wednesday, the XRP price broke out of the descending channel. While the breakout didn’t hold up and ended up being a fake-out, it paved the way for the emergence of the inverse H&S pattern which is now changing the momentum in favor of the bulls. Related Reading: XRP, BNB Among Altcoins Losing Correlation With Bitcoin: Data Technically, the inverse H&S pattern is distinguished by two smaller peaks (shoulders) on either side of a larger trough (head), which is evident from the chart’s annotations. The left shoulder formed around the $0.586 support level, with the head dipping as low as $0.574, before rising to form the right shoulder at $0.593. This pattern is indicative of a bearish trend losing momentum and a potential bullish reversal if the pattern completes. Egrag’s analysis points to key price levels to watch, with the neckline of the inverse H&S pattern sitting at approximately $0.6289. A decisive breakout above this resistance level could see XRP prices rally towards the $0.7000 mark, which aligns with the pattern’s predicted breakout target. Beyond this, the analyst’s target sits at $0.7311, which marked the beginning of the descending channel. A rally to this price level would represent a 20% increase from the current XRP price. Related Reading: Analyst Uses 5200% Impulse Against Bitcoin To Predict XRP Price Surge To $9.6 It is crucial to note that while the inverse H&S pattern suggests a bullish outcome, the validity of the pattern will only be confirmed upon a clear break and closure above the neckline. As always, while the technical setup is constructive for XRP bulls, market participants should consider various factors, including market sentiment, news flow, and broader market trends. In a bearish scenario where the inverse head and shoulders pattern is invalidated, the XRP price could move towards the trend line of the descending channel. In his chart, Egrag marks $0.5564 and $0.53 as crucial support levels for the XRP price where a reversal could take place. At press time, XRP traded at $0.61348. On the 1-day time frame, the 0.382 Fibonacci retracement level at $0.628 remains the key resistance level in the short-term. Featured image from Forbes, chart from
Bitcoin mining firm Phoenix Group delays share listing
29 Nov 08:22
Due to UAE’s National Day, Phoenix Group’s public trading launch on the Abu Dhabi Securities Exchange has been moved to Dec. 5, 2023.
Tron Blockchain Founder Justin Sun Rejects Reports Linking His Protocol to Terror Funding
29 Nov 08:00
Tron blockchain founder Justin Sun has rejected suggestions that his protocol is increasingly being used by terrorist organizations. Sun said Tron’s top priority remains maintaining decentralization as well as making sure users’ assets remain safe. A new report suggests that between July 2021 and October 2023, Israel’s National Bureau for Counter-Terror Financing (NBCTF) seized 143 […]
Cristiano Ronaldo sued for promoting Binance, unregistered securities
29 Nov 06:17
The soccer star’s Binance-tied NFTs allegedly promoted investments in unregistered securities on the crypto exchange.
KyberSwap DEX hacker sends an on-chain message: Be nice, or else
29 Nov 05:56
The exploiter behind the $46 million KyberSwap hack says they plan to outline a treaty for the potential return of funds on Nov. 30, but not if threats and hostilities from execs keep up.
Pika Wows in Debut as AI Video Generator Takes Aim at Tech Giants
29 Nov 02:06
A $55 million raise allows the startup to compete against giants Meta, Adobe, and Stability AI.
Portal Airdrop Is Coming—How to Farm the Gaming Token
29 Nov 01:48
Billed as a single platform to connect a wide array of blockchain games, Portal is planning an airdrop. Here’s how to earn tokens.
Solana Is Soaring—You Can Earn More by Playing These Games
29 Nov 00:31
Want to stack SOL? These Solana games let you earn tokens while you play. Here are five games to get started with.
‘Rat Poison’: Cantankerous Bitcoin Critic Charlie Munger Dies at 99
29 Nov 00:21
"I'm not proud of my country for allowing this crypto shit," he said earlier this year. "It's worthless, it's no good."
Bitcoin Will Hit $100K in 2024, Predicts Standard Chartered—Again
28 Nov 23:23
The British multinational bank has returned to its bullish stance on the biggest digital coin as more signals turn green.
All Dogs Can Go to Heaven—Later: FDA Advances Longevity Drug for Big Dogs
28 Nov 23:01
Extending canine lifespans was just the beginning, Loyal founder Celine Halioua says.
Shrapnel Game Studio Founders Say Majority Shareholder Is Staging a Coup
28 Nov 22:45
Six founders at Shrapnel studio Neon Machine have filed suit against the investor alleging "severe harm," but say the game is still on track.
Amazon Launches Q: A ChatGPT AI Competitor for Businesses
28 Nov 22:28
After carving out a leadership position in cloud computing, the firm is determined to claim a significant share of the burgeoning AI market.
Coinbase Stock Is Soaring—What Does That Mean for Crypto?
28 Nov 21:42
Coinbase stock just hit a yearly high, outperforming Bitcoin, Ethereum, and most other related investments. Is the crypto proxy a safer bet than digital assets?
Starfield Isn't Actually Boring, Game Maker Weirdly Explains in User Review Comments
28 Nov 21:13
Bethesda has been responding to negative Steam reviews—mostly by telling players they should keep playing if they’re bored.
Coinbase Might Be Forced to Share Your Bitcoin Trading Data With the CFTC
28 Nov 20:30
The company was recently served with a subpoena pertaining to crypto exchange Bybit. But Coinbase customers with no relationship to that exchange say they’re being targeted too.
Bitcoin Turns Bullish Again Amid Dovish Fed Forecast
28 Nov 19:59
The biggest digital asset by market cap hit is up by more than 134% this year.
Are NFTs Ever Coming Back?
28 Nov 19:38
In this weeks episode we sit down with Cashtro from to discuss NFTs, shitcoins, what collections have held onto their floor prices, and more.
Solana's Mad Lads Top Bored Apes in Daily NFT Sales as Prices Surge
28 Nov 19:35
Lads on top: the prominent Solana NFT project leads the market in 24-hour sales volume as prices climb to yet another peak.
Solana Token Pyth Pumps Following $77 Million Airdrop for DeFi Users
28 Nov 18:52
The Solana-based Pyth token is up 35% over the last seven days.
Ethereum’s Vitalik Buterin: If AI Turns on Us 'Even Mars May Not Be Safe'
28 Nov 17:32
AI development needs to prioritize human intention for positive outcomes, not just profit maximization, says Buterin.
How to AI: Best AI Tools for Students
28 Nov 16:01
Not all students are letting AI do their homework. Others are seizing upon the technology to genuinely augment their education.
Cardano Founder Charles Hoskinson: Bitcoin Gets ‘Complete Pass’ From SEC
28 Nov 15:51
The Cardano founder argued that Bitcoin is not decentralized, and that other cryptocurrencies are unfairly considered securities.
BitMEX Founder Arthur Hayes: U.S. Treatment of CZ, Binance ‘Absurd’
28 Nov 12:01
In a lengthy essay, Hayes argued that the $4.3 billion fine levied by U.S. authorities against Binance was “arbitrary.”
4 Things CZ Can Do in Seattle While Waiting to See If He's Going to Prison
28 Nov 02:58
Binance founder Changpeng "CZ" Zhao got news today that he's stuck in America for the time being. So why not make the most of it?
AI Can Fix Your DeFi Smart Contracts, Researchers Claim
28 Nov 01:29
Lightning Cat is an AI model trained to catch blockchain problems before they can be exploited by armies of bots and hackers.
Gaming Tokens Keep Rising as Axie Infinity, Ronin, and Illuvium Pump
28 Nov 00:58
Video game tokens including AXS, RON, and ILV had a strong week, plus ApeCoin hit a three-month high over the weekend.
Where in the World Is Hex Founder Richard Heart?
27 Nov 23:45
The SEC has been trying, and apparently failing, to hunt down controversial Hex founder Richard Heart for months.
Pudgy Penguins Release Exclusive Walmart 'Influencer Box' for Cyber Monday
27 Nov 22:46
The prominent Ethereum NFT project continues pumping out plush toys, serving up a Cyber Monday exclusive via Walmart.
Former Binance CEO CZ Can’t Leave US Until Court Decides If He’s a Flight Risk
27 Nov 22:24
Prosecutors say CZ has ample means to flee, despite the hefty bond he’s placed. Now the Binance founder is stuck in the U.S. for now.
'Blade Runner' Director Ridley Scott Calls AI a 'Technical Hydrogen Bomb'
27 Nov 22:18
Leading directors, including Oppenheimer’s Christopher Nolan and Terminator’s James Cameron, speak out over AI's potentially catastrophic global impact.
Bitcoin ETF Hope Pushes Crypto Fund Investments to $1.5 Billion
27 Nov 21:31
The lingering prospect of new, regulator-approved Bitcoin ETFs continues to draw interest and cold hard cash.
'Symbiogenesis' Launch Date Revealed as Square Enix Gives Out Free NFTs
27 Nov 21:16
The Final Fantasy maker has set a date for Symbiogenesis, and is giving away NFTs for users who participate in the first auction.
Bitcoin Hovers Near Yearly High as Halving and ETF Loom
27 Nov 20:40
Bitcoin appears to be holding onto gains in an anticipation of big events next year.
Jito Reveals JTO Airdrop for Solana DeFi Users—Here's Who Can Claim
27 Nov 20:37
The Solana DeFi platform Jito is giving 100 million JTO tokens to its community to facilitate collective governance.
Web Summit: Will Web3 Gaming Ever be Mainstream?
27 Nov 20:08
Animoca Brands CEO Robby Yung, EndeavorXR CEO Amy Peck and Gamee co-founder CEO Bozena Rezab joined Decrypt's Stephen Graves on stage at Web Summit to talk about the future of Web3 gaming.