Stocks making the biggest premarket moves: Nike, Apple, Dominion Energy, Carnival and more

These are the stocks posting the largest moves in the premarket.

Canceled, delayed flights are likely over July 4 holiday weekend. What to know about your rights

Travelers faced with a flight disruption over the Independence Day holiday weekend may be entitled to a refund, or complimentary rebooking, hotel stay or meal.

DRC gets $203m IMF loan to boost dwindling forex reserves - The East African

DRC forex reserves have fallen to $4.5 billion, covering only two months of imports.

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RBI upgrades info management system, launches next generation data warehouse CIMS

The Reserve Bank of India has introduced the Centralised Information Management System (CIMS), a next generation data warehouse, to strengthen regulatory supervision, monitoring, and enforcement. The system will improve monetary policymaking through refined economic analysis and the management of big data flow. RBI Governor Shaktikanta Das said the CIMS will lead to a paradigm shift in economic analysis and supervision, as well as reduce the regulatory compliance burden.

Nasdaq Composite Technical Analysis

There is a recurring sentiment among many Federal Reserve members that they are awaiting further data before determining the extent of tightening measures. While the majority of them anticipates two additional rate hikes this year, they consistently emphasize that these decisions depend on the data. Yesterday, Fed Chair Powell highlighted the resilience of the economy and expressed openness to the possibility of two consecutive rate hikes should the labour market's strength persist. The data received after the last FOMC meeting serves to reinforce the notion that we are likely to see further rate hikes. The housing market data surpassed expectations, the US Jobless Claims remain steady, the US Services PMI continues to expand, and the latest Consumer Confidence report showed notable strength. Naturally, the upcoming NFP and CPI reports will have a pivotal role, however, if we continue to see such positive data, it is highly likely that the Fed will increase rates twice instead of the market's current expectation of a single rate hike in July. Nasdaq Composite Technical Analysis – Daily Timeframe On the daily chart, we can see that the price has bounced on the red 21 moving average and extended to the 13651 level. From a risk management perspective, the buyers would be better off buying from the 13174 support where we can also find the 38.2% Fibonacci retracement level. If we see an extension lower, the last line of defence will be the upward trendline. The sellers, on the other hand, are likely to pile in at every break lower. Nasdaq Composite Technical Analysis – 4 hour Timeframe On the 4 hour chart, we can see that the moving averages have crossed to the downside. We haven’t seen such a development since the beginning of May, so it clearly shows that the bearish momentum is prevailing or the bullish one is waning. In any case, we can expect the sellers to lean on the red 21 moving average and target the 13174 support, while the buyers will need to break decisively to the upside to invalidate the bearish setup. Nasdaq Composite Technical Analysis – 1 hour Timeframe On the 1 hour chart, we can see that we have a strong short term resistance zone at the 13630 level where we can also find the 50% Fibonacci retracement level. This is where the sellers should pile in with a defined risk above the resistance and target the support. The buyers, on the other hand, will want to see the price breaking higher to jump onboard and target a new high. Upcoming risk events include today's US Jobless Claims and tomorrow's US PCE report. The market has consistently responded favourably to positive labour market data and low inflation reports, so we can expect a similar reaction if we get such results. Conversely, if the data labour market data weakens, it could potentially trigger concerns about a recession and lead to a decline. This article was written by FL Contributors at www.forexlive.com.
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Stocks making the biggest moves midday: Occidental Petroleum, Wells Fargo, Micron, Joby and more

These are the stocks posting the largest moves in midday trading.

Timing is Everything: How to Determine the Best Time to Forex Trade for Maximum Profit

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3 reasons it can be smarter to rent, even if you can afford to buy

Flexibility, the "nuisance" factor and the hidden costs of homeownership may mean renting is the better choice for some people.

Germany Joins Anti-Binance Sentiment, BaFin Rejects License Application

After the United States declared open war on cryptocurrency exchange Binance, Europe is also becoming an increasingly unfriendly ground for the digital asset market giant. Owned by Changpeng Zhao (CZ), the platform had hoped that Germany would become one of its new hubs on the Old Continent. However, recent reports suggest that the local financial market regulator BaFin has not looked favorably on Binance's application.

BaFin Rejects Binance's Bid in Germany

According to information published by the German Finance Forward today (Thursday), insiders claim that BaFin is unwilling to grant Binance a crypto custody license. Binance's press spokesperson has not confirmed these reports but commented to CoinDesk that the exchange is continuously working to meet all the requirements set by BaFin. He acknowledged that it is a complicated and lengthy process, but the platform is still hopeful for a positive conclusion.

If Binance fails to obtain a license in Germany, its business development in Europe may be in question. This is especially true given that the exchange has significantly limited its local presence due to regulatory changes.

Finance Magnates reported two weeks ago that Binance is exiting Cyprus and the Netherlands. Since then, the platform has also come under scrutiny from the French prosecutor's office for operating an 'illegal' exchange, withdrew its license in the United Kingdom, and was forced to leave Belgium.

The challenges in Europe are further exacerbated by the fact that Paysafe Solution, Binance's euro banking partner, is suspending support for further payments from the end of September 2023.

⚠️ Binance #Crypto Custody License Application Denied by 🇩🇪 German Regulator BaFin ‼️😬Several blows to #Binance in 🇪🇺 EU 👀#CryptoNews #Cryptocurency #BNBhttps://t.co/OnebGzBdTA

— Ajay Kashyap (@EverythingAjay) June 29, 2023

Binance Shifts Focus to Asia and the Middle East

Although Binance does not claim to be withdrawing from Europe, but rather adjusting its local strategy to comply with new regional cryptocurrency regulations (MiCA), it is faring considerably better on other fronts.

A week ago, Binance entered the Central Asian market by launching local services in Kazakhstan. The new platform will allow users to trade and store digital assets, make fiat deposits and withdrawals, and avail of conversion services.

A representative from the exchange also hinted earlier this week that, faced with regulatory pressure in the US and the EU, the Middle East might become Binance's primary target. These words came from Alex Chehade, the General Manager of Binance Dubai. According to Chehade, the United Arab Emirates (UAE) have favorable and transparent regulations regarding digital assets.

At a time when the EU is implementing MiCA and the United States is clashing with crypto exchanges, the giants of 'traditional finance' are seeking their place at the growing cryptocurrency table. Over the past two weeks, more companies have joined the collection of applications for the establishment of a spot Bitcoin ETF, initiated by BlackRock. ARK Invest, BitWise, and Invesco also want to offer a similar instrument.

Although US regulators have rejected such applications in the past, Wall Street giants are hoping that the current 'negative PR' around crypto exchanges will increase the chance of launching fully regulated instruments.

This article was written by Damian Chmiel at www.financemagnates.com.

Bitcoin Technical Analysis

The recent regulatory attacks and the more hawkish repricing for the Fed interest rates path weighed a lot on the bitcoin price, but the cryptocurrency showed a surprising resilience and rallied back strongly as soon as the hawkish expectations waned, and the dust settled on the regulatory front. All else being equal, the recent strong bounce from the key support level may suggest that the pullback for bitcoin has ended and we are about to see new higher highs, unless we get again another hawkish repricing due to strong economic data or even a recession. Bitcoin Technical Analysis – Daily Timeframe On the daily chart, we can see that after pulling back to the key 25231 support where we had also the confluence from the 50% Fibonacci retracement level, bitcoin started a slow and steady rise into a key trendline that defined the descending triangle pattern. Once the price broke out, we saw a quick and strong rally to the 31K high where the price stalled and started to consolidate. Nothing seems able to stop bitcoin at the moment, but the sellers are always on the lookout for more Fed rate hikes or a recession. Bitcoin Technical Analysis – 4 hour Timeframe On the 4 hour chart, we can see that the price is struggling a bit to break above the 31K resistance. A good support level where the price can pull back to is the upward trendline where we can also find confluence with the 38.2% Fibonacci retracement level. That’s where we should expect the buyers to step in more strongly with a defined risk below the trendline and target a new high. The sellers, on the other hand, will want to see the price breaking lower to pile in and extend the eventual selloff into the 27000 level. Bitcoin Technical Analysis – 1 hour Timeframe On the 1 hour chart, we can see more closely the current rangebound price action and also the support level at 29500. We can see that the last leg higher into the 31K resistance diverged with the MACD. This is generally a sign of weakening momentum often followed by pullbacks or reversals. In this case, it should first lead to a pullback into the above mentioned 29500 support, which is the recent swing low level. That’s where we should see what will happen next for bitcoin: a strong bounce should take us to new highs, while a clear breakout should lead to a selloff to the 27000 level. This week is pretty empty on the data front with only the US Jobless Claims tomorrow and the US PCE on Friday. However, we will get comments from many central bank members, including Fed Chair Powell today. This article was written by FL Contributors at www.forexlive.com.
http://dlvr.it/SrPQ1g

Stocks making the biggest moves midday: Pinterest, Carnival, General Mills, Netflix and more

These are some of the stocks posting the largest midday moves.

Myanmar Economy Stymied by Forex Import Curbs World Bank Says - Bloomberg Tax

Myanmar's economic recovery is being hampered by a shortage of foreign exchange, import restrictions and power outages, according to the World ...

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Powell says more 'restriction' is coming, including possibility of hikes at consecutive meetings

Powell spoke at a European Central Bank monetary policy forum in Sintra, Portugal.

Stocks making the biggest moves before the bell: General Mills, Nvidia, AMD and more

These are the stocks posting the largest moves in premarket trading.

USDJPY Technical Analysis

Last week we got many comments from various central bank speakers about the prevailing sentiment of being cautious and take a data-dependent approach to determine the extent of further tightening to avoid overdoing it. In fact, while the majority of the FOMC members expect two additional rate hikes for this year, they consistently emphasize that these decisions are contingent to the data. Last week's economic reports inclined towards a rate hike given the surprisingly strong housing market data, stable US Jobless Claims, and good US Services PMI. Naturally, the upcoming NFP and CPI reports will play a pivotal role in shaping future actions, but if we keep on getting such good data, it is likely that the market's current expectation of a rate increase by the Fed in July will materialize. On the other hand, the BoJ remains stuck with its policy easing and doesn’t look in a rush to change it despite record high core inflation data. USDJPY Technical Analysis – Daily Timeframe On the daily chart, we can see that USDJPY has eventually broke above the key 142.17 resistance where we had also the 61.8% Fibonacci retracement level for confluence. The breakout seemed inevitable as the US data remains resilient and the BoJ doesn’t want to change its policy. All else being equal, the target should now be the 150.00 handle. USDJPY Technical Analysis – 4 hour Timeframe On the 4 hour chart, we can see that the buyers have been leaning on the red 21 moving average to enter the market at every pullback. We now also have a trendline and when we’ll get another pullback, we should see the buyers again leaning on the moving average and the trendline. This is not a sellers’ market, so the only way they can play this is by waiting for the price to break below the trendlines to pile in and ride the selloffs into the next trendlines. USDJPY Technical Analysis – 1 hour Timeframe On the 1 hour chart, we can see that the price is at the previous high now. A break above should lead to more upside but from a risk management perspective, the buyers would be better off if they waited for a pullback before joining the trend again. This week's data calendar is relatively light, with only the US Jobless Claims scheduled for Thursday, followed by the US PCE on Friday. However, despite the limited data, we will hear again from many central bank speakers. This article was written by FL Contributors at www.forexlive.com.
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Stocks making the biggest premarket moves: Walgreens, Kellogg, Eli Lilly, Delta and more

These are the stocks posting the largest moves in the premarket.

A U.S. recession is coming this year, HSBC warns — with Europe to follow in 2024

The U.S. will enter a downturn in the fourth quarter, followed by a "year of contraction and a European recession in 2024," according to HSBC Asset Management.

Adani Group clarifies over US probe speculation says 'not aware of SEC scrutiny'

“All of our disclosures are a matter of public record. It is routine that various regulators will seek access to public material in an easy and ...

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London England: The World's Capital for Foreign Exchange Adds Cryptocurrencies to Its Ledger

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest ...

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Gold Trading at Make or Break Level - Key levels to watch on the shinny metal - YouTube

Before you decide to trade foreign exchange and derivatives, ... a brand name of ACY AU and ACY LTD, ACY Securities Pty Ltd. All rights Reserved.

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Eleni Pastou - FX News Group

Eleni Pastou Discover Forex News Group: the latest behind-the-scenes insight into all the FX executive moves, platform advancements, ...

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Currency Strength and Weakness for Tuesday 27th June 2023 | Forex Peace Army

FREE TRADING WEBINARS FOR FRUSTRATED TRADERS: Are you a frustrated trader, feeling like you're ready to give it all up? Have you been trading for 6-12 ...

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Wise shares spike 18% as higher interest rates help fintech triple profits

Wise said in a statement to the stock market that its profit before tax nearly tripled to £146.5 million ($186.5 million).

The CHF is the strongest and the GBP is the weakest as the NA session begins

The CHF is the strongest and the GBP is the weakest as the NA session and the new trading week in North America begins. The USD is mostly lower with modest gains vs the GBP. The AUDUSD is unchanged. The USDCHF is the biggest mover as flows into the CHF (safety?) dominate the price action. Technically, the USDCHF is moving away from its near converges 100/200 hour MAs and looks to test the low from last week and the prior week near 0.8900 area (see chart below). The market's response to the short-lived mutiny in Russia by the Wagner mercenaries, has been somewhat subdued. The conflict caused a temporary disruption, but Russian President Vladimir Putin maintained control and brokered a truce. Analysts suggested this unrest signals underlying weakness in Putin's rule but also highlighted the lack of high-level defections. The U.S. anticipates the situation could take months to resolve. Despite the past week's drop in crude oil prices due to concerns over interest rate hikes and a slower Chinese economic recovery, OPEC remains optimistic about the demand for oil in the coming decades. Oil prices are midrange, below $70 after reaching a high of $70.11. US stocks are marginally lower to start the week after snapping 5 and 8-week up streaks last week (the Dow snapped a 3 week string). Last week, Federal Reserve Chair Jerome Powell hinted again at further interest rate hikes. Investors are awaiting updates on inflation and earnings reports from major companies such as Walgreens Boots Alliance and Nike.Meanwhile, Tesla is under scrutiny after receiving a downgrade from Goldman Sachs, a move mirroring those of Morgan Stanley and Barclays last week. Tesla shares are trading at $250.55 in pre-market trading after closing on Friday at $256.60. US yields are lower. This week the US treasury will auction off 2, 5 and 7-year notes ($42, $43 and $35 billion). In Europe today, IFO business confidence in Germany dipped for the second month in a row, with index falling to 88.5 vs 90.7 expected and down from 91.5 previously (lowest level since November - 2022 low was at 84.3). IFO's economist commented that the likelihood that Germany’s economy will shrink again in Q2 has increased with industry export expectations lower as a result of global rate hikes. The good news is that the number of companies that want to raise prices also decreased. This trend, coupled with disappointing PMI flash data from last week and a Q1 recession, signifies continued economic weakness. German inflation rates are also persistently higher than neighboring nations. Having said that, the Bundesbank Monthly Report concluded that the German economy has bottomed out with slight GDP growth expected in Q2 and expect inflation to slow further in the coming months. Go figure. The EURUSD is modestly higher on the day. The EUR is mixed/lower with declines vs the JPY, CHF, CAD and NZD and modest gains vs the USD, GBP, and AUD. A snapshot of the markets currently shows: * Crude oil is trading up $0.46 or 0.67% at $69.62 * Spot gold is trading up $11.18 or 0.59% at $1931.49 . * Silver is up up $0.39 or 1.77% $22.80 * Bitcoin is trading steady at $30,326. The ranges this weekend reached a high of $34,047. The low today reached $29,993 In the premarket for US stocks, the major indices are trading lower in premarket trading * Dow Industrial Average is trading down marginally (-2 point) after its -219.28 point decline on Friday * S&P index is trading down -3 points after declining -33.58 points on Friday * NASDAQ index is trading down -16 points after Friday's -138.09 point decline In the European equity markets, the major indices are mixed * German DAX down -0.19% * France's CAC of 0.21% * UK's FTSE 100 unchanged * Spain's Ibex of 0.10% * Italy's FTSE MIB down -0.17% (delayed) In the Asian Pacific market today, Japan and Australia is indices fell. China was closed for holiday: * Japan's Nikkei fell -0.25% * Australia's S&P/ASX 200 index fell -0.29% * China's Shanghai composite index fell -1.48% * Hang Seng index fell -0.51% In the US debt market yields are lower * 2-year yield 4.7224-2.8 basis points * 5-year yield 3.952% -4.1 basis points * 10-year yield 3.699% -3.9 basis points * 30-year yield 3.782% -3.7 basis points In the European debt market, benchmark 10-year yields are lower as concerns about growth weigh on the yields This article was written by Greg Michalowski at www.forexlive.com.
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Publishers Clearing House to refund customers $18.5 million in FTC settlement for 'deceptive' practices

Publishers Clearing House used so-called dark patterns to deceive consumers, the Federal Trade Commission said.

6 Forex Trading Strategies for Beginners | Vantage

Forex trading strategies abound, but not all are suitable for beginners. Here are six beginner-friendly strategies to learn before wading into the ...

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FP Markets Awarded 'Best Trade Execution' and 'Most Transparent Broker' at the Ultimate ...

CNW/ -- FP Markets, a leading Forex and CFDs broker, has been crowned 'Best Trade Execution' and 'Most Transparent Broker' at the prestigious ...

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Top 5 Richest Forex Traders of All Time: Their Success Stories and Trading Strategies

And with it comes the success stories of the richest forex traders of all time. These traders have mastered the art of trading in the foreign exchange ...

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HSBC Reportedly Becomes First Bank in Hong Kong to Permit Crypto ETFs

HSBC, the largest bank in Hong Kong, has reportedly made Bitcoin and Ether-based exchange-traded funds (ETFs) listed on the Hong Kong Exchange (HKEX) available to its customers. The move, according to local journalist Colin Wu, is targeted at expanding local users’ exposure to digital assets.

SCOOP: HSBC, the largest bank in Hong Kong, today allows its customers to buy and sell Bitcoin and Ethereum ETFs listed on the Hong Kong exchange, and is also the first bank in Hong Kong to allow it. The move will expand local users’ exposure to cryptocurrencies in Hong Kong. pic.twitter.com/vH0LieSVGw

— Wu Blockchain (@WuBlockchain) June 26, 2023

HSBC Facilitates Crypto ETF Trading

Currently, crypto ETFs listed on HKEX include CSOP Asset Management’s CSOP Bitcoin Futures ETF and CSOP Ethereum Futures ETF. A sub-subsidiary of Samsung’s investment arm offers the Samsung Bitcoin Futures Active ETF, on the exchange.

By providing access to the ETFs, HSBC becomes the first bank in the special Chinese administrative region to enable local investors to buy and sell crypto ETFs. The revelation comes days after reports emerged that Hong Kong’s central bank is pushing HSBC, Standard Chartered and the Bank of China, to accept crypto firms as clients.

In the past few days, the global cryptocurrency industry has seen renewed interest in spot Bitcoin ETF among stakeholders. The surge in new applications for the ETF came after BlackRock, the world’s largest asset manager, also made the same application with the US Securities and Exchange Commission.

Hong Kongs’ New Crypto Regime

Meanwhile, the launch of HSBC's new crypto ETF services follows a new crypto regime that has taken effect in Hong Kong since the beginning of this month. As part of the new crypto rules, crypto exchanges operating in the jurisdiction are now required to get licensed to offer their services to retail traders.

As reported by Finance Magnates, the new rules include a provision that requires exchanges to protect investors by assessing their knowledge of cryptocurrencies before they are onboarded. Exchanges are also required to limit retail investors’ risk exposure by confining them to cryptocurrencies with large market capitalization.

According to Wu, HSBC, in addition to providing its customers with access to crypto ETFs, launched the Virtual Asset Investor Education Centre. Customers are required to read and confirm the education materials and risk disclosure in the centre before investing in any crypto-related products on HSBC’s mobile apps: HSBC HK Easy Invest and HSB CHK Mobile Banking app as well as on the lender's online banking platform.

This article was written by Solomon Oladipupo at www.financemagnates.com.

Stocks making the biggest premarket moves: Tesla, Moderna, Alphabet, PacWest and more

These are the stocks posting the largest moves in the premarket.

Russell 2000 futures technical analysis in 60 seconds, 26 June 2023

Market trends of Russell 2000 * The Russell 2000 futures experienced a downturn, closing lower on June 23, 2023, following a week characterized by increase, but still, fairly low volatility, as the ViX is still quite low. * The index, which maintained its position within a certain range since May 31st, broke down below the lower boundary on June 22nd. * At present, the price trades at the 'value area high', a potential pivot point for a rebound. However, the risk of a further downward movement remains, as the RTY technical analysis video shows. Russell 2000 as a stock market indicator * The Russell 2000, an index composed of small-cap stocks, serves as an important indicator for the broader market. * Recent weeks have seen the index under pressure due to concerns over economic robustness. However, some indicators suggest the index could be nearing its lowest point. Many investors and traders view the Russell 2000, a broad index of small-cap stocks, as a key indicator of market depth and resilience, offering a diversified perspective beyond the concentrated influence of mega-cap names like Nvidia and Apple. Volume profile overview * Analysis of the four-hour chart's volume profile reveals substantial buying activity at the 'value area high' of the volume profile, see video above. * This could be an indication of substantial support at this level, signaling possible positive market sentiment. Observations on channel formation * The four-hour timeframe chart illustrates a distinctive channel pattern, marked by three notable touchpoints. * The first two touchpoints were observed on May 31st and June 1st, respectively, while the third was marked on June 23rd. * THIS MEANS THAT TRADERS SHOULD BE WATCHING THIS JUNCTION... Potential bear flag formation * The possibility of a Bear Flag formation - indicative of potential market downturns - should not be disregarded if the price continues to trend downwards along the channel. It's crucial for investors to remain vigilant to these potential market shifts. A Bear Flag is a pattern signaling potential continued downtrend after a steep price drop. Traders heed this as a cue to possibly sell or short, anticipating further price decline. This Russell 2000 technical analysis is for informational purposes only and is not intended as investment advice. And you're welcome to view other perseptives on ForexLive.com. Stay informed, stay prudent, and happy trading! This article was written by Itai Levitan at www.forexlive.com.
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Crypto Custody Provider BitGo Ditches Plan to Acquire Rival Prime Trust

Digital asset custodian BitGo has shelved its planned acquisition of one of its rivals Prime Trust, despite a preliminary agreement reached earlier in the month. The initial takeover agreement transpired amid speculation that Prime Trust was facing bankruptcy.

BitGo Shuns Prime Trust Takeover

“After considerable effort and work to find a path forward with Prime Trust, BitGo has made the hard decision to terminate its acquisition of Prime Trust,” the California-based firm said in a Twitter post published today (Thursday). “This decision was not made lightly and BitGo remains committed to our mission to deliver trust in digital assets.”

After considerable effort and work to find a path forward with Prime Trust, BitGo has made the hard decision to terminate its acquisition of Prime Trust. This decision was not made lightly and BitGo remains committed to our mission to deliver trust in digital assets.

— BitGo (@BitGo) June 22, 2023

The speculation about Prime Trust’s health was fueled by recent developments at the Nevada-based firm. In January, the firm quit service provision in Texas after previously withdrawing its application for a Texas Money Transmitter License (MTL). In the same month, the crypto custodian shredded one-third of its workforce, which were mostly staff members in the communication and compliance departments, according to CoinDesk.

Last week, Banq, a mobile software solutions provider and a subsidiary of Prime Trust, filed for bankruptcy in a US court in Nevada, declaring $17.72 million in assets and $5.4 million in liabilities. Prime Trust itself was initially primed for acquisition for the sum of $1.2 billion by Galaxy Digital by late 2021. However, the deal fell apart in August last year, with Prime Trust’s claim of $100 million in damages that was later dismissed by a court in Delaware.

Prime Trust Stops Deposits

Meanwhile, Prime Trust has ceased all deposits of fiat and crypto assets for custody, according to Stably, a company that provides stablecoins and fiat-to-crypto on-ramps. The move is in line with an order by the Nevada Financial Institution Division.

Cryptocurrency exchange Coinmetro also made a similar move, saying it “is currently unable to process new USD transactions."

⚠️ Important announcement: unexpected disruption in USD transactions. We regret to inform you that our partner for USD payments PrimeTrust has temporarily suspended USD deposits and withdrawals. This means that Coinmetro is currently unable to process new USD transactions.While…

— Coinmetro (@CoinMetro) June 22, 2023

New exchange on TradingView; HKEX in New York; read today's news nuggets.

This article was written by Solomon Oladipupo at www.financemagnates.com.

Governance: God has given Tinubu opportunity to write his name in gold Ibediro ex-APC ...

Former National Organising Secretary of the All Progressives Congress ... Everything about Nigeria revolves around currency and Forex matters.

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Bvi forex - cocktails1.com

Instead, individual countries tend to oversee this form of investment and all participants thereof. In the British Virgin Islands, the … BVI Forex ...

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Page 219 of 498 - Free Forex Education and Reviews - The Forex Geek

The Forex Geek is dedicated to bringing you everything forex related including free forex education, forex reviews, forex brokers, forex robots ...

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Regulatory Orders Says Prime Trust Has 'Shortfall of Customer Funds'

Prime Trust is the latest crypto custody platform to be in trouble, as it received a cease-and-desist order from the Nevada Department of Business and Industry for a "shortfall in customer funds" and not being able to handle customers' withdrawal requests.

Troubled Prime Trust

The regulatory order was published publicly on Thursday, hours after BitGo, another digital asset custody provider, terminated its deal to acquire Prime Trust. Although, a spokesperson from the Nevada regulator confirmed to the media that the order was issued on June 21.

According to the Nevada regulator's Financial Institutions Division (FID), Prime Trust's "overall financial condition ... has considerably deteriorated to a critically deficient level," and thus, the company has been ordered to cease all activities. The regulator further highlighted that the crypto custodian might be on the brink of liquidation.

"On or about June 21, 2023, Respondent was unable to honor customer withdrawals due to a shortfall of customer funds caused by a significant liability on the Respondent's balance sheet owed to customers," the regulatory order stated. "Additionally, Respondent failed to safeguard assets under its custody and is unable to meet all customer withdrawals."

TrueUSD printed a billion stablecoins out of thin air, just a few days before the suspension of Prime Trusts services.In March of 2017, Tether also lost banking access and suspiciously started printing billions of Tethers that could not be redeemed.TrueUSD is now doing the… pic.twitter.com/BZoLn7Z8LV

— Bitfinex’ed 🔥🐧 Κασσάνδρα 🏺 (@Bitfinexed) June 23, 2023

Halted Deposits

Prime Trust has already halted all deposits of fiat and crypto assets on Thursday, which was confirmed by several companies.

Additionally, the regulatory order highlighted that Prime Trust had more than a negative amount of $12 million in stockholders' equity position at the end of March 2023, which signifies the company is "operating at a substantial deficit."

Based in Nevada, Prime Trust has been in business difficulties for a while now. It quit its service provision in Texas in January after previously withdrawing its application for a Texas Money Transmitter License (MTL), Finance Magnates recently highlighted. Further, Banq, a mobile software solutions provider and a subsidiary of Prime Trust, filed for bankruptcy last week in a US court in Nevada, declaring $17.72 million in assets and $5.4 million in liabilities.

This article was written by Arnab Shome at www.financemagnates.com.

At 23 pc spend, Andhra Pradesh leads laggards in state capex in FY23; Karnataka, Bihar cross 100 pc

As against this, in FY21, the underachievement level was a high 72 per cent, primarily due to the pandemic emergency spending, and had improved to 95 per cent in FY22.

Why has India’s corporate tax mop-up failed to match the pace of personal income-tax collection?

India's corporate tax collection has struggled to keep pace with personal income tax in recent years due to factors such as better compliance, digitisation and wage rises in select service sectors. Since the COVID-19 pandemic began, the formalisation of the economy, better TDS compliance on salaries and a simplified tax regime have all contributed to higher personal tax collection.

Cramer says 'do not sell' CarMax stock after its Q1 earnings

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Stocks fall dollar up as investors weigh more rate hikes | Forex News

London South East seeks your consent to use your personal data in the following cases: Store and/or access information on a device ...

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How many credit cards should you have? The answer isn’t zero, say experts

Having one card and using it responsibly can help build your credit score. But there may be benefits to having two or three, experts said.

Blockchain Technology: Revolutionizing Industries Beyond Finance

Blockchain technology, which is most usually linked with cryptocurrencies, has emerged as a transformational force that goes far beyond banking. Blockchain has the potential to change a variety of industries, including healthcare, supply chain management, and voting systems, due to its decentralized and transparent nature.

In this article, we will look at how blockchain technology is altering various industries, opening up new avenues for efficiency, transparency, and trust.

Blockchain Technology in Healthcare

The incorporation of blockchain technology has the potential to dramatically enhance the healthcare business. Here's how it's done:

• Secure Data Management: By offering a secure and immutable ledger for healthcare records, blockchain has the potential to transform data management. Patient data kept on a blockchain can be secured, giving patients ownership over their information while also providing healthcare practitioners with a complete and accurate medical history. This decentralized strategy lowers the danger of data breaches while maintaining the integrity and privacy of sensitive health information.
• Interoperability and Data sharing: Interoperability is a fundamental barrier to the seamless sharing of patient data across different systems and providers in healthcare. Blockchain-based solutions can enable secure and standardized data transmission, guaranteeing that patient data is accurate, up to date, and accessible throughout the healthcare ecosystem. This interoperability improves patient outcomes by improving care coordination and reducing medical mistakes.
• Clinical Trials and Research: Blockchain technology has the potential to transform the way clinical trials are carried out and research data is managed. Researchers can ensure the transparency, integrity, and traceability of the entire process by securely capturing trial data on a blockchain. Transparency can reduce fraud, improve patient safety, and hasten the discovery of new treatments and cures.

Supply Chain Management with Blockchain

Lack of transparency, counterfeiting, and inefficiency are all problems in the supply chain business. Blockchain technology has the potential to address these concerns in the following ways:

• Improved Traceability: Blockchain enables end-to-end product traceability throughout the supply chain. Stakeholders may verify the authenticity and origin of products by recording each transaction and movement on a blockchain, assuring ethical sourcing and lowering the risk of counterfeit goods. This transparency also allows for the speedier detection and resolution of concerns like recalls, which improves customer safety.
• Streamlined Logistics: By automating and digitizing manual procedures, blockchain can optimize supply chain logistics. Smart contracts, which are self-executing agreements written in blockchain code, can simplify contract management, automate payments, and enforce compliance. These efficiencies cut costs, increase operational speed, and improve supply chain management overall.
• Sustainability and Fair Trade: By giving clear information about a product's environmental and social impact, blockchain technology can enable customers to make educated decisions. Consumers can support businesses that share their beliefs by tracking and confirming sustainability certifications and fair trade practices on a blockchain. Transparency encourages responsible behavior throughout the supply chain.

The Use of Blockchain in Voting Systems

Voting systems are critical to democratic processes, and blockchain technology provides multiple benefits:

• Immutable and visible Records: Because blockchain records are immutable and visible, they are very resistant to manipulation and fraud. The integrity of the voting process can be maintained by recording votes on a blockchain, ensuring that votes are reliably counted, and the results are transparently verifiable.
• Improved Voter Trust: The decentralized nature of blockchain-based voting systems increases voter trust. It eliminates the need for middlemen to count votes, such as electoral commissions, lowering the possibility of manipulation. Voters can independently verify their votes and engage in the democratic process directly.
• Accessibility and Efficiency: Blockchain-based voting systems can make voting more accessible to remote or international voters. Blockchain technology eliminates geographical obstacles, increases voter turnout, and lowers administrative expenses associated with traditional voting techniques by enabling secure and verified online voting.

Blockchain's Expansion into New Industries: Mitigating the Risks of a Single Point of Failure

Blockchain technology has emerged as a transformative force, revolutionizing various industries with its decentralized and transparent nature. However, as blockchain reaches new frontiers and finds applications beyond its initial use cases, it brings with it a potential risk: the creation of a single point of failure.

Recognizing and addressing this risk is essential to maintain the decentralized and transparent nature of blockchain. With careful planning and implementation, blockchain technology can continue to revolutionize industries while safeguarding against single points of failure.

The Single Point of Failure Dilemma

Traditionally, centralized systems have been susceptible to single points of failure, where a single component or entity can disrupt or compromise the entire system. Blockchain, with its decentralized architecture, aims to address this vulnerability by distributing control and authority among multiple participants. However, as blockchain expands into new industries, the risk of inadvertently creating a single point of failure becomes more apparent.

When blockchain technology is adopted within a specific industry or ecosystem, it often involves the establishment of consortiums or networks where a limited number of participants control the majority of nodes or resources. In such cases, if a dominant participant or a small group of participants experiences a technical failure, malicious attack, or unethical behavior, it can potentially undermine the entire network's integrity and reliability. This scenario defeats the purpose of blockchain's resilience and transparency.

Mitigating the Risk: Strategies and Best Practices

To mitigate the risk of a single point of failure, it is crucial to promote decentralization and diversity among network participants. Encouraging a broad range of stakeholders, including individuals, organizations, and even competing entities, to join the network helps distribute control and reduce the influence of any single participant. This approach enhances system robustness and makes it less susceptible to the negative impact of a single failure.

Moreover, implementing robust and secure consensus mechanisms is vital to blockchain networks. Consensus algorithms such as proof-of-work (PoW), proof-of-stake (PoS), or delegated proof-of-stake (DPoS) ensure agreement and validation of transactions across the network. By diversifying consensus mechanisms or adopting hybrid approaches, the network becomes more resilient against a single point of failure in any specific algorithm.

Building redundancy and backup systems into the blockchain infrastructure can also help mitigate the risks associated with a single point of failure. Multiple nodes distributed across different geographical locations ensure that if one node or a group of nodes fails, the network can continue to operate without disruption. This redundancy ensures data availability, integrity, and system functionality even in the face of technical failures or malicious attacks.

Regular monitoring and auditing of the blockchain network are crucial to detect potential vulnerabilities or signs of a single point of failure. Network administrators and participants should actively monitor the system's health, security, and performance to identify and address any weaknesses promptly. Transparent and independent audits can provide assurance to all stakeholders and help identify areas that require improvement or mitigation.

Lastly, promoting open standards and interoperability among blockchain networks can help mitigate the risks associated with a single point of failure. Interconnected networks enable the seamless transfer of data and assets, reducing reliance on a single network or consortium. By fostering interoperability, blockchain technology can achieve its full potential by promoting collaboration, innovation, and resilience across various industries.

Conclusion

Beyond banking, blockchain technology has the potential to alter industries by providing transparency, security, and efficiency to areas such as healthcare, supply chain management, and voting systems. These industries may open new opportunities for trust, traceability, and collaboration by exploiting blockchain's decentralized and transparent nature.

As blockchain technology evolves, stakeholders must accept it, handle scalability issues, and create collaboration in order to realize its potential for generating positive change across industries.

This article was written by FM Contributors at www.financemagnates.com.

The USD is the strongest and the AUD is the weakest as the North American session begins

The USD is the strongest and the AUD is the weakest as the NA session begins. Federal Reserve Chairman Jerome Powell reaffirmed his stance on impending rate hikes for the remainder of the year, following a two-day semi-annual Congressional testimony which concluded yesterday. Powell emphasized the necessity of further hikes to combat inflation and meet the central bank's 2% target rate. The likely pace of these increases is also factored in, ensuring the ability to accommodate new data. This stance appears to be widely supported by the Federal Open Market Committee. Traders currently anticipate a 75% probability of the next hike occurring in July, with an additional quarter-point rise later in the year. Although Bostic and Goolsbee were a bit more open to a further pause, the balance of officials seems to be on the Chairman's page. The markets will monitor the comments (and the data) as rates are still data-dependent, with services inflation remaining the key barometer.In the Asian Pacific session today, the flash PMI data out of Australia and Japan were mixed to lower. Starting with Australia, the manufacturing sector experienced a contraction, with a PMI reading of 48.6. This is a slight improvement over the prior month's 48.4, but it still falls under the 50-mark threshold, indicating an ongoing contraction. Australia's services sector remains in the expansionary territory but just barely with the services PMI of 50.7. That was at a slower pace than the prior month's 52.1 and the lowest level since March. The AUDUSD tumbled lower today with the 100-day MA at 0.67134 being broken to the downside in the process. The pair is testingitss 50% midpoint of the move up from the May 31 low at 0.66785 to start the NA session. The Japanese manufacturing sector indicated a near-stagnant condition with a PMI of 49.8, falling below both the expected 50.2 and the prior month's 50.6, suggesting a slight contraction. The National Core Consumer Price Index (CPI) year-on-year increased by 3.2%, slightly surpassing expectations of 3.1% but falling short of the previous month's 3.4%. The BOJ keeps the stimulus flowing in Japan despite the elevated inflation. The EUR has been weak today with today's Purchasing Managers Index (PMI) data releases from Europe showing signs of economic deceleration, particularly in the manufacturing sector. The French manufacturing sector displayed a modest improvement with a PMI of 45.5, slightly higher than the expected 45.4, but lower than the previous month's 45.7, signaling ongoing contraction. More concerning was the notable dip in the French services sector with a PMI of 48.0, significantly falling short of the anticipated 52.2 and marking a decline from the previous month's 52.5. The data from Germany mirrored the French downturn, with the manufacturing PMI of 41.0, which was lower than both the anticipated 43.6 and last month's 43.2, suggesting a deepening contraction. While the services sector remained in expansion territory with a PMI of 54.1, it was less robust than the forecasted 56.3 and the previous month's 57.2. The overall Eurozone figures reflected these trends, with a manufacturing PMI of 43.6, which was below the expected 44.8 and equivalent to last month's reading. The services PMI came in at 52.4, showing continued expansion but at a slower pace than the forecasted 54.4 and the prior month's 55.1. In the UK, the manufacturing PMI of 46.2 also indicated a contraction deeper than the expected 46.9 and the previous month's 47.1. The services sector maintained growth with a PMI of 53.7, but this was less than the predicted 54.8 and last month's 55.2. Also, released in the UK, retail sales grew by 0.3% month-on-month, exceeding the forecasted contraction of 0.2%. However, the growth was slower than the prior month's increase of 0.5%. In summary, the PMI data suggests that while the service sectors continue to grow in Europe, they are doing so at a slower pace than expected. Meanwhile, the manufacturing sectors across the region are continuing to contract, hinting toward a broader slowdown in economic activity. US stocks are lower in premarket trading. The major indices are on track to close lower for the week. That would snap the S&P string of 5 consecutive weeks with higher closes, while the NASDAQ index is on track to snap its 8-week win streak. US yields are lower despite the USD rise (flight to safety flows are dominant today). Oil is down and on pace for the biggest decline since May 1 week. A snapshot of the markets currently shows: * Crude oil is trading down -$0.80 or -1.15% at $68.70. The price of crude oil is down -4.49% this week on concerns about global growth as central banks hike rates * Spot gold is trading up $6 or 0.32% $1990.40. Lower yields are helping to support the price along with technical support at the natural support level at $1900. The low price today reached $1910.26. * Silver is up $0.14 at $22.35 * Bitcoin is trading steady at $30,140. The level near 5 PM yesterday was trading right around the $30,000 level In the premarket for US stocks, the major indices are trading lower in premarket trading * Dow Industrial Average is trading down down -114.71 points after yesterday's -4.81 point decline. The index is on pace to snap a 3-week up streak * S&P index is trading down -22 points after yesterday's 16.22 point rise. The S&P is on pace to snap its five-week up streak. * NASDAQ index is trading down -95 points after yesterday's 128.41 point rise. The NASDAQ is on track for its worst week since April 6. In the European equity markets, the major indices are all trading lower * German DAX down -0.87% * France's CAC down -0.35% * UK's FTSE 100 down -0.36% * Spain's Ibex down -0.74% * Italy's FTSE MIB down -0.32% (delayed) In the Asian Pacific market today, Japan and Australia is indices fell. China was closed for holiday: * Japan's Nikkei fell -1.45% * Australia's S&P/ASX 200 index fell -1.32% In the US debt market yields are lower * 2-year yield 4.745% -5.5 basis points * 5-year yield 3.982% -6.2 basis points * 10-year yield 3.736% -6.2 basis points * 30-year yield 3.825% -4.8 basis points In the European debt market, benchmark 10-year yields are sharply lower as concerns about growth and too tight policy weigh on yields. This article was written by Greg Michalowski at www.forexlive.com.
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Companies without direct A.I. link try to ride the Wall Street craze

Here's what some companies outside of the artificial intelligence sphere are presenting an A.I. to investors and the public.

India's Forex Reserves Jump $2.35 Billion To $596 Billion: RBI - ABP LIVE

The country's reserves of foreign currency hit an all-time high of $645 billion in October 2021. The reserves have been decreasing as the central bank ...

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FOREX-Dollar up on risk aversion; sterling Swiss franc slip despite rate hikes

... rose on Thursday after the Bank of England (BoE), the Swiss National Bank (SNB) and Norges Bank all hiked their benchmark interest rates.

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Goldman Sachs faces big writedown on CEO David Solomon’s ill-fated GreenSky deal

The turbulence marks the latest fallout from CEO David Solomon's decision to exit most of Goldman's consumer efforts. 

Stocks making the biggest moves before the bell: Starbucks, CarMax, Virgin Galactic and more

These are the stocks posting the largest moves in premarket trading.

AUDUSD buyers and sellers battle it out between technical support and resistance

The AUDUSD is having a down, and up, and back down trading day today. The "ups" have been finding resistance against its 200-hour moving average currently at 0.6808 (green line in the chart below). The "downs" have been finding support against a swing area between 0.6750 and 0.67546. Going forward getting outside of that battle zone with momentum would be eyed by traders. On a break to the downside, the 38.2% retracement of the move up from the May 31 low followed by the 100-day moving average would be downside targets. Those levels come in at 0.67306 and 0.67159 respectively. On the topside, a break of the 200-hour moving average at 0.6808 would then have the falling 100-hour moving average at 0.68117 to get above. Get above both, and the buyers would look toward the swing low from Monday's trade of 0.6835 as the next target. This article was written by Greg Michalowski at www.forexlive.com.
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Warren Buffett's charitable giving exceeds $50 billion, more than his entire net worth in 2006

Warren Buffett has boosted his total charitable giving to more than $50 billion — greater than his entire net worth in 2006 when he first scheduled the grants.

FedEx's Attempts to Trim Expenses May Be Too Little Too Late for Investors - FX Empire

FedEx revenues have dropped for three consecutive quarters now, and the company has underperformed Wall Street expectations for all three of those ...

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Watch Fed Chair Jerome Powell speak live to Senate banking panel

Powell appears Thursday on Capitol Hill for the second day of his testimony on monetary policy.

Bank of England surprises with 50 basis point rate hike to tackle persistent inflation

The Bank of England on Thursday surprised markets with a 50 basis point hike to interest rates, its 13th consecutive increase.

The CAD is the strongest and the AUD is the weakest as the NA session begins

The CAD is the strongest and the AUD is the weakest as the North American session begins. The GBP is also weaker despite higher CPI data. PPI in the UK was lower. The GBP initially moved higher on the news but then reversed lower as traders focused on the potential central bank reaction to the elevated inflation data. The Canadian dollar is stronger ahead of retail sales which are expected to rise by 0.4% versus -1.4% last month. Looking at the UK Producer Price Index (PPI), the Input index fell significantly to -1.5% against the estimated -0.5%, showing a deflationary tendency in the cost of materials and fuels purchased by manufacturers. The PPI Output also decreased to -0.5%, which is slightly more deflationary than the estimated -0.1%. Looking at the CPI, however, the numbers were less friendly. The CPI year-on-year (y/y) came in at 8.7%, higher than the expected 8.4%, suggesting inflation pressures remain way too strong. Core CPI, which excludes volatile items like food and energy, also exceeded expectations at 7.1% (vs 6.8% est and 6.8% last), indicating broad-based price increases. Later the House Price Index (HPI) y/y reported prices YoY rising by 3.5% which was higher than the estimate of 2.6% but lower than the previous month at 4.1%. These figures point to continued inflationary pressures which will keep the BOE firmly in play. The BOE meets on Thursday and is expected to increase rates by 25 basis points to 4.75%, but the data brings in the possibility of a 50 basis point hike. In early US data, the Mortgage Bankers Association (MBA) reported US mortgage applications increased by 0.5% in the week ending on June 16, 2023. This follows a previous surge of 7.2% last week. The market index rose to 209.8 from 208.8 in the previous week. The purchase index also saw a slight increase to 165.6 from 163.2, while the refinance index decreased to 425.1 from 434.1. The 30-year mortgage rate dropped slightly to 6.73% compared to the previous rate of 6.77%. Yesterday, US housing starts and building permits both increased higher than expectations. Today, in the US, the market will turn focus to the Federal Reserve Chair Powell's testimony on Capitol Hill. Powell is set to begin his two-day testimony at 10 AM ET, where he will first address the House Financial Services Committee (tomorrow he will be in the Senate). Last week, the Fed paused rate increases but hinted at the possibility of raising rates again this year. Investors are eager to hear Powell's stance on the need to resume rate hikes and the potential timing of such increases. The Fed projected through the dot plot, that the benchmark rate could reach 5.6% by the end of the year, implying at least two additional 25 basis point hikes. In the premarket for stocks in the US, futures are trading modestly lower ahead of Powell's testimony. The major indices fell yesterday with the Dow industrial average leading the way with a decline of -0.72%. The NASDAQ index fell -0.16% yesterday. The weekly win streaks in stocks is in jeopardy of being broken. The Nasdaq is up 9 weeks, S&P up 5 weeks. Oil prices are little changed. Yields are higher in the US. A snapshot of the markets currently shows: * Crude oil is trading down $0.08 at $71.11 * Spot gold is trading down -$0.71 or -0.04% at $1934.42 * Silver is down -$0.09 or -0.40% $23.04 * Bitcoin is trading at $28,944. The high price extended to $29,257 which is the highest level since May 6 In the premarket for US stocks, the major indices are trading modestly lower after declined yesterday * Dow Industrial Average is trading -14 points after yesterday's -245.25 point decline * S&P index is trading down -3 points after yesterday's -20.88 point decline * NASDAQ index is trading down -23 points after yesterday's -22.28 point decline In the European equity markets, the major indices are trading mixed * German DAX down -0.22% * France's CAC down -0.31% * UK's FTSE 100 down -0.23% * Spain's Ibex up 0.12% * Italy's FTSE MIB up 0.32% (delayed) In the Asian Pacific market today : * Japan's Nikkei rose 0.56% * Hang Seng index fell -1.98% * Shanghai composite index fell -1.31% * Australia's S&P/ASX 200 index fell -0.58% In the US debt market yields mostly higher * 2-year yield 4.713% +1.5 basis points * 5-year yield 3.977% +2.0 basis points * 10-year yield 3.751% +2.5 basis points * 30-year yield 3.40% +2.3 basis points In the European debt market, benchmark 10 year yields are mixed: This article was written by Greg Michalowski at www.forexlive.com.
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Watch Fed Chair Powell speak live on rate hikes and more to a House panel

Federal Reserve Chairman Jerome Powell speaks Wednesday to the House Financial Services Committee.

Exchange rate converges at N756 after FX reforms - Businessday NG

The CBN on June 14, 2023 collapsed all segments of foreign exchange markets into the I&E forex window. On Friday, the CBN in a letter to all banks ...

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BoT warns on use of forex in payments - Daily News

It said the directives remain intact even now. The statement said further that all prices of goods and services in the country should be quoted in ...

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Experts shared valuable information about Forex trading in Nigeria - Newswire.net

Traders Union experts define Forex as a system of international economic relations between banks of all countries and other people participating ...

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AUDJPY Forex Analysis - Retest & Hold At 95.73 Weekly Support - YouTube

Foreign exchange and derivatives trading carries significant risk and is not suitable for all investors. You do not own, or have any interest in, ...

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FOREX-Dollar firm ahead of Powell testimony sterling up on hot inflation | Nasdaq

AUD=D3. NZ Dollar/Dollar. NZD=D3. All spots FX= Tokyo spots AFX= Europe spots EFX= Volatilities FXVOL= Tokyo Forex market info from BOJ TKYFX.

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Treasury - Forex Management - Noida - EXL - 5 to 10 years of experience - Naukri.com

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Powell expects more Fed rate hikes ahead as inflation fight 'has a long way to go'

Noting that inflation has cooled but "remains well above" the Fed's 2% target, Powell said the central bank still has more work to do.

Stocks making the biggest moves premarket: Spotify, FedEx, Tesla, Coinbase and more

These are the stocks posting the largest moves in premarket trading.

USDJPY Technical Analysis

The Fed has decided to pause at its latest policy meeting keeping rates at 5.00-5.25% range. They explained that in doing so they can see more economic data and make better decisions on how much to raise interest rates to bring inflation down to their target without causing too much damage to the economy. They have also raised their terminal rate projection although the market doesn’t see it happening as recent economic data started to disappoint, especially the labour market data. The on JPY side, the BoJ maintains its easy monetary policy and no change is expected in the near future. USDJPY Technical Analysis – Daily Timeframe On the daily chart, we can see that USDJPY has reached a key resistance level at 142.17 where we can also find the 61.8% Fibonacci retracement level of the entire fall from the October 2022 high. The price is a bit overstretched from the blue 8 moving average so we may expect a bit of a pullback before the next move. There’s also a divergence with the MACD right at this resistance which makes a pullback into the 138 support more likely. USDJPY Technical Analysis – 4 hour Timeframe On the 4 hour chart, we can see the price is now finding some support at the red 21 moving average and a previous swing high level. The sellers should pile in here with a stop above the 61.8% Fibonacci level and the trendline as first target. In fact, we can see that at the 138 support we can also find the 50% Fibonacci retracement level for confluence. From a risk management perspective, that will be a good level for the buyers to enter at with a defined risk below the trendline. USDJPY Technical Analysis – 1 hour Timeframe On the 1 hour chart, we can see the support level where the price is reacting from. We can also notice a divergence with the MACD, therefore if the price breaks below this support level, we can expect a bigger selloff into the 138 level. For the price to break above the 142.17 resistance sustainably, we should get some very hawkish comments from Fed speakers or the economic data have to surprise upwards. This week we will hear from many Fed members including Fed Chair Powell who’s going to testify to Congress on the state of monetary policy on Wednesday and Thursday. We conclude the week with the US Jobless Claims on Thursday and US PMIs on Friday. This article was written by FL Contributors at www.forexlive.com.
http://dlvr.it/Sr0LPs

Wall Street Giants Propel EDX Markets into Digital Asset Trading Scene

EDX Markets, a new digital asset marketplace, has announced the successful initiation of its trading operations, backed by a consortium of major financial institutions. Among the mentioned companies are several Wall Street giants, including Charles Schwab, Fidelity Investments, and Citadel Securities.

The company has also completed a new funding round that brought additional strategic investors on board. In a future plan to optimize the market, the platform aims to introduce a clearinghouse, EDX Clearing, later this year.

EDX Markets Starts Operations Supported by Wall Street's Giants

The EDX Markets platform began trading recently and claims that it stands out from the competition thanks to its liquidity, competitive quotes, and unique non-custodial model. EDX Markets aims to lessen potential conflicts of interest. EDX also brought a retail-only quote to the crypto markets, which resulted in improved pricing for retail-originated orders.

The platform supports the trading of the most popular digital assets such as Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC).

"EDX's ability to attract new investors and partners in the face of sector headwinds demonstrates the strength of our platform and the demand for a safe and compliant cryptocurrency market," Jamil Nazarali, the CEO of EDX, commented.

"We are committed to bringing the best of traditional finance to cryptocurrency markets, with an infrastructure built by market experts to embed key institutional best practices.

In line with its launch, the platform closed a new funding round. This round introduced new strategic investors like DV Crypto, GTS and Miami International Holdings. These firms joined the original coalition of investors, including Wall Street giants mentioned before, like Charles Schwab, Citadel Securities, Fidelity Digital, Sequoia Capital and Virtu Financial.

The funds acquired will aid in the platform's continued development and reinforcement of its market leadership.

JUST IN: Citadel, Fidelity, and Charles Schwab launch new #crypto exchange platform, EDX Markets.

— Watcher.Guru (@WatcherGuru) June 20, 2023

EDX Markets to Launch EDX Clearing

A new development on the horizon for EDX Markets is the launch of EDX Clearing. This clearinghouse will settle trades matched on EDX Markets, acting as a central counterparty.

"Looking ahead, EDX Clearing will be a major differentiator for EDX - and resolve an unmet need in the market - by enhancing competition and creating unparalleled operational efficiency through a single settlement process," Nazarali added.

The investment firm BlackRock has also decided to venture into cryptocurrencies. Last week, it proposed establishing its first Bitcoin ETF in the United States. This new instrument will provide investors with secure and regulated access to the BTC market if approved.

These moves come at a time when there is increasing pressure from regulators on digital asset companies in the United States. The Securities and Exchange Commission (SEC) has filed lawsuits against the two largest exchanges in the country, Coinbase and Binance. This has made the crypto landscape more challenging but also illustrates the growing importance of digital assets in the financial ecosystem.

This article was written by Damian Chmiel at www.financemagnates.com.

KOJO FOREX on Twitter: "My Tiktok is getting the relevant attention it needs. Straight Facts and ...

My Tiktok is getting the relevant attention it needs. Straight Facts and contents with deeper forex knowledge all throughout! No gimmicks!

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Unraveling the Latest Developments in Crypto Regulations Around the World

Over the last decade, the world of cryptocurrencies has seen amazing development and innovation. Governments and regulatory bodies are attempting to build comprehensive frameworks to oversee the usage of digital assets as they gain popularity and general acceptance.

This article goes into the most recent developments in global crypto legislation, giving light on the changing landscape and its ramifications for businesses, investors, and individuals.

Accepting Regulatory Clarity

Governments all around the world are recognizing the significance of creating clear regulations in order to support responsible and secure crypto ecosystems. While regulatory measures differ among jurisdictions, the overarching goal is to achieve a balance between promoting innovation and protecting against hazards like as fraud, money laundering, and market manipulation. Governments hope to boost investor confidence and the expansion of the cryptocurrency business by giving regulatory clarity.

Different Regulation Approaches

The United States

The United States has been actively establishing a cryptocurrency regulatory framework. The Securities and Exchange Commission (SEC) has increased its investigation of initial coin offerings (ICOs) and determined that many tokens are securities that must be regulated under existing securities regulations. Furthermore, the Office of the Comptroller of the Currency (OCC) has authorized national banks to provide cryptocurrency custody services. However, regulatory clarity is still a work in progress, with continuous conversations about digital asset classification and monitoring.

European Union

The European Union (EU) has taken attempts to standardize cryptocurrency rules among its member countries. The Fifth Anti-Money Laundering Directive (AMLD5) of the European Union compels cryptocurrency exchanges and custodian wallet providers to follow Know Your Customer (KYC) and Anti-Money Laundering (AML) rules. Furthermore, the proposed Markets in Crypto-Assets Regulation (MiCA) seeks to provide a complete regulatory framework for crypto-assets, with the goal of enhancing investor protection and market integrity.

Asia

With varying approaches to regulation, Asia has emerged as a hub for crypto activity. Countries such as Japan and Singapore have put in place regulatory structures that encourage innovation while protecting consumers.

China, on the other hand, has enforced severe cryptocurrency regulations, including bans on ICOs and cryptocurrency exchanges, but continuing to investigate the possibility of central bank digital currencies (CBDCs). Asia's changing landscape reflects the region's various perspectives about digital assets.

CBDCs (Central Bank Digital Currencies)

CBDCs are being extensively researched by central banks all over the world. These centrally supported digital currencies promise to provide efficiency, transparency, and financial inclusivity.

China, Sweden, and the Bahamas have made great progress in piloting CBDCs, while the United States and the European Union are doing research and feasibility studies. CBDCs have the ability to change the monetary system and the interaction between governments, central banks, and digital currencies.

Can CBDCs be a potential point of convergence for governments worldwide?

As the world continues to embrace digital transformation, governments are exploring the concept of Central CBDCs as a means to modernize their financial systems.

CBDCs, digital representations of a country's fiat currency, have the inherent potential to become a point of convergence between governments worldwide as they present a transformative opportunity for governments worldwide to collaborate, and build a more inclusive and efficient global financial ecosystem.

As governments explore the implementation of CBDCs, international collaboration and coordination will be crucial. Through open dialogue, shared standards, and cooperative efforts, governments can establish a foundation for a globally interconnected financial system that benefits individuals, businesses, and economies around the world. The convergence of CBDCs holds promise for a future where financial transactions are seamless, inclusive, and truly borderless.

Streamlining Cross-Border Transactions

One of the significant challenges in cross-border transactions is the complexity and cost associated with traditional banking systems. CBDCs can facilitate faster, more secure, and cost-effective cross-border transactions by leveraging blockchain or distributed ledger technology. With CBDCs, transactions can be executed in real-time, reducing the need for intermediaries and minimizing transaction costs.

By embracing digital currencies, governments can simplify cross-border payments, enabling businesses and individuals to transact seamlessly across borders. This streamlined process has the potential to boost international trade and commerce, promoting economic growth and cooperation between nations.

Enhanced Financial Inclusion

A key advantage of CBDCs is their potential to improve financial inclusion. Traditional banking systems may not reach certain segments of the population, particularly those in remote or underserved areas. CBDCs can provide a digital payment infrastructure that is accessible to anyone with a mobile phone or internet connection, regardless of their geographic location.

By providing a secure and inclusive digital payment solution, CBDCs can empower individuals who were previously excluded from formal financial services. This enhanced financial inclusion has the potential to stimulate economic activity and improve livelihoods across different regions, ultimately fostering socio-economic development.

Interoperability and Standardization

The development and implementation of CBDCs require international collaboration and coordination. Governments worldwide have a shared interest in establishing interoperability and common standards to ensure seamless integration between different CBDCs. This convergence can facilitate cross-border transactions and promote international trade by eliminating the complexities of multiple currency conversions and settlement processes.

Through international agreements and cooperation, governments can establish protocols for interoperability, enabling the efficient exchange of value between different CBDC ecosystems. Such standardization efforts can foster trust, transparency, and interoperability, creating a foundation for a global financial system that transcends national borders.

Strengthening Regulatory Frameworks

The introduction of CBDCs necessitates the development of robust regulatory frameworks that ensure financial stability, consumer protection, and privacy. As governments work together to define regulations and guidelines for CBDCs, it presents an opportunity for convergence and harmonization of regulatory practices.

International collaboration can lead to the exchange of best practices, the establishment of common regulatory principles, and the development of frameworks that address potential risks and challenges associated with CBDC implementation. By aligning regulatory approaches, governments can foster trust and confidence in CBDCs, attracting global adoption and promoting cross-border financial integration.

Addressing Economic Disparities

CBDCs have the potential to address economic disparities by providing governments with enhanced tools for monetary policy and economic stimulus. Governments can use them to distribute targeted welfare payments, subsidies, or grants directly to individuals or businesses in need, bypassing traditional intermediaries and reducing administrative costs.

Moreover, CBDCs can enable more efficient and transparent tax collection processes, combating tax evasion and promoting fiscal discipline. By leveraging them as a tool for economic empowerment and social welfare, governments can work together to bridge the gap between developed and developing economies, fostering global economic stability and sustainable growth.

The Effect on Businesses and Investors

Crypto regulations that are clear and well-defined have a significant impact on businesses and investors. Investor confidence is boosted by regulatory stability, which attracts institutional players and traditional financial institutions to the crypto arena.

This infusion of capital and knowledge has the potential to stimulate innovation, liquidity, and market maturation. Businesses in the cryptocurrency business may better negotiate legal regulations, develop compliance procedures, and build trust with their clients.

Consumer Safety and Security

Regulations are critical to protecting consumers and maintaining the security of cryptocurrency transactions. KYC and AML standards aid in the prevention of illegal activity, while investor protection measures safeguard against scams and fraud. Users get peace of mind knowing that their monies are secure and their rights are protected when they use well-regulated exchanges and custodial services.

Striking the correct balance between regulation and inhibiting innovation, on the other hand, remains a challenge, necessitating continual coordination among regulators, firms, and industry stakeholders.

International Standards and Cooperation

As the crypto sector crosses borders, international cooperation and the development of common standards become more crucial. Financial Action Task Force (FATF) and International Organization of Securities Commissions (IOSCO) are trying to produce consistent rules for crypto legislation. Harmonized standards can help cross-border transactions by reducing regulatory arbitrage and promoting global interoperability.

Conclusion

The changing regulatory landscape for cryptocurrencies reflects a maturing business seeking responsible growth and widespread adoption. Governments and regulatory agencies throughout the world are increasingly building clear frameworks to control cryptocurrencies in order to foster investor confidence, protect consumers, and mitigate risks.

As organizations and consumers deal with digital assets, it is critical to stay current on crypto rules and maintain compliance with applicable laws. Countries can unlock the revolutionary potential of cryptocurrencies while protecting against possible hazards by implementing a balanced regulatory approach, allowing the crypto industry to continue to expand and innovate on a global scale.

This article was written by FM Contributors at www.financemagnates.com.

Stocks making the biggest premarket moves: Alibaba, Dice Therapeutics, Avis and more

These are the stocks posting the largest moves in the premarket.

Gold Technical Analysis

Last week, the Fed finally paused its tightening cycle, settling at a range of 5.00-5.25%. Their rationale behind this decision was to await additional economic data before determining any further interest rate increases. Their aim is to carefully calibrate the appropriate level of monetary restraint necessary to lower inflation to the desired 2% target without inflicting excessive strain on the economy. They have also added 50 bps to their projected terminal rate in the Dot Plot to show their commitment in fighting inflation. The economic data is now what really matters as even the Fed doesn’t know how much tightening is still needed or where the economy will be in the next six months. Gold Technical Analysis – Daily Timeframe On the daily chart, we can see that the trendline has been breached, but the price has kept on ranging as the market remains uncertain on the Fed’s rates path. The support at 1934 was briefly breached last week, but thanks to another miss in the US Jobless Claims, gold has bounced back into the range. The red 21 moving average has been acting as dynamic resistance for the sellers to enter the market but it’s now getting weak as the moving averages threat a crossover due to the rangebound price action. Gold Technical Analysis – 4 hour Timeframe On the 4 hour chart, we can see more closely the month-long range where gold has been stuck into. We have the support level at 1934 and the resistance level at 1984. A clear break on either side supported by a fundamental catalyst should lead to a big move afterwards as momentum traders enter the market. For now, we will likely range till the second part of the trading week as there’s not much on the data front to move the market until Wednesday at least. Gold Technical Analysis – 1 hour Timeframe On the 1 hour chart, we can see that we also have a strong mid-level that’s been acting as both support and resistance. It acts like a sentiment barometer where we can see more upside when the price stays above the level, and more downside when it falls below it. Therefore, aggressive buyers are likely to pile in here with a tight risk below the level and target the 1984 resistance. The sellers, on the other hand, will look to pile in once the price breaks below the level to target the 1934 support. This week is relatively empty on the data front with just the US Jobless Claims and the US PMIs scheduled for Thursday and Friday respectively. Nonetheless, we will hear from many Fed members with the Fed Chair Powell also testifying to Congress on Wednesday and Thursday. This article was written by FL Contributors at www.forexlive.com.
http://dlvr.it/SqxNR3

Terraform Labs’ Do Kwon Sentenced to 4 Months in Jail over Document Forgery

A court in Montenegro has sentenced Do Kwon, the Co-Founder of Terraform Labs, to four months in jail for possessing forged passports and travel documents. Han Chong-Joon, former Chief Financial Officer at the Singapore-based blockchain company, was also found guilty of the same crime by the Basic Court in Podgorica, Bloomberg reported on Monday. Han also received the same sentence.

Court Sentences Do Kwon to Jail

Kwon and Han were arrested in March in Montenegro while they were attempting to travel to Dubai through a private jet. The court said Costan Rican and Belgian passports and identity cards belonging to the executives were confiscated.

The sentencing came weeks after the court granted a €400,000 bail each to Kwon and Han. An initial bail granted in May was voided by an upper court following an appeal by the prosecutor that the executive’s property had not been properly assessed.

According to Bloomberg, the time the Terraform Labs executives had spent in detention will be factored into the sentence. The court also said they had the option of appealing the verdict in a higher court.

Kwon last week told the court that he obtained the travel documents from an agency in Singapore recommended by his friend. The Terraform Labs CEO denied knowing that the documents were forged.

Do Kwon Faces Extradition

As the CEO of TerraLabs, Kwon helped in creating the algorithmic stablecoin TerraUSD and the native cryptocurrency of the Terra blockchain, LUNA. However, the digital assets collapsed in May last year, wiping out over $40 billion from the crypto market.

In February, US securities regulator charged Kwon with securities fraud, with federal prosecutors following this up with fraud charges, both over the failure of the cryptocurrency projects. South Korea also issued an arrest warrant against the Terraform Labs Founder last year.

Despite being granted bail last week, the Podgorica High Court confirmed to the media that it is keeping Kwon in ‘extradition custody’ for six months to consider an extradition request by South Korea. The United States also asked for the former CEO to be extradited.

Beeks' new contract; ex-Scope Markets' exec at Titan FX; read today's news nuggets.

This article was written by Solomon Oladipupo at www.financemagnates.com.

GBP/JPY Forecast - British Pound Continues to Look to the Upside - FX Empire

The market has been straight up in the air for all of last week, so running out of momentum is not a huge surprise, especially considering that ...

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Court Approves Deal between SEC and Binance.US to Avoid Asset Freeze

The Securities and Exchange Commission (SEC) has reached a deal with Binance and Binance.US to circumvent the need for an asset freeze, limiting access to US customers' funds only to Binance.US employees. Additionally, the United States district court Judge Amy Berman Jackson approved the agreement on Saturday.

SEC and Binance Reached a Deal

Under the agreement, the US affiliate of Binance has to ensure that none of the officials from Binance Holdings, the global exchange, have access to private keys for wallets or hardware wallets. Binance.US needs to create new crypto wallets to which they only have access and move US customers' funds to them.

Further, none of the Binance Holdings officials can have root access to Binance.US's Amazon Web Services tools. In the meantime, US customers will be allowed to withdraw their funds.

Binance's CEO, Zhao tweeted that agreements were reached on "mutually acceptable terms."

Although we maintain that the SEC's request for emergency relief was entirely unwarranted, we are pleased that the disagreement over this request was resolved on mutually acceptable terms. User funds have been and always will be safe and secure on all Binance-affiliated…

— CZ 🔶 Binance (@cz_binance) June 17, 2023

Binance.US Avoids Asset Freeze

These restrictions came as the SEC alleged that Binance.com and its CEO, Changpeng Zhao controlled the US operations despite not holding any executive role in the country. Zhao is also the majority owner of Binance.US.

In addition to the limitation of access, the US-based crypto exchange must share detailed information about its business expenses with the regulator.

The SEC sued Binance, its two US affiliates, and Changpeng Zhao earlier this month over allegations of operating illegal trading platforms, offering unregistered crypto asset securities, and commingling customers' funds.

On top of that, the regulator filed a motion in the court seeking an asset freeze of BAM Management US Holdings and BAM Trading Services, the holding and operating firms for Binance.US, concerning that the exchange can move its customer funds to offshore wallets. However, the exchange said that such an order would mean a "death penalty" for its operations.

The representatives of the SEC and the Binance entities sat down at the table as a judge rejected a temporary asset freeze last Tuesday and forced them to negotiate a way out of it.

We want to provide an update on the current battle https://t.co/AZwoBOh0gq finds itself in with the SEC. We are pleased to inform you that the Court did not grant the SEC’s request for a TRO and freeze of assets on our platform which was clearly unjustified by both the facts and…

— Binance.US 🇺🇸 (@BinanceUS) June 17, 2023

Meanwhile, Binance is facing troubles outside the US. Its regulated French unit reportedly faces a probe over the 'illegal' provision of crypto services and money laundering.

This article was written by Arnab Shome at www.financemagnates.com.