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A draft bill from the Australian government is warning tech and social media giants to remove misinformation from their platforms or be prepared to pay up big fines. The new draft bill would see the country’s media regulator — the Australian Communications and Media Authority (ACMA) — armed with the power to make it obligatory
The AUDUSD started to show cracks in its bullish bias last Friday, and that crack led to a bigger and bigger move as technical levels were taken out one by one. First, it was the 100-hour moving average (higher blue line) and channel trendline. That led to a break of the 200-hour moving average. The
Japan finance minister Suzuki says will respond in FX moves are excessive Saudi Aramco says China India are especially driving oil demand despite economic headwinds OPEC forecasts rising global oil demand, to 110mn barrels per day by 2045 S&P cuts its China GDP forecast for 2023 to 5.2% from 5.5% – expects uneven growth pace
Gold prices edged higher in early Asian trade on Monday, helped by a weaker U.S. dollar, although chances of more interest rate hikes by the Federal Reserve this year to tame sticky inflation weighed on bullion’s appeal.FUNDAMENTALS * Spot gold rose 0.3% to $1,926.29 per ounce by 0051 GMT. U.S. gold futures were up 0.3%
Share: WTI crude oil fades bounce off two-week low amid mixed catalysts. OPEC Secretary General, Aramco Official signal upbeat Oil demand. Mixed concerns about Russian fears to energy supplies put a floor under the black gold price. Fears about China’s economic slowdown, higher rates challenge energy buyers. WTI crude oil remains depressed around the intraday
The EURUSD corrected higher off a swing area between 1.0842 and 1.08485. The corrected move higher in the early New York session moved back into the lower swing area of a “Red Box” that confined the pair in April and May (between 1.08955 to 1.1095), and which was broken last week. The price moved back
Wagner leader Yevgeny Prigozhin said he gave the order to return convoys headed to Moscow back to their bases in order to avoid bloodshed. Belarus President Lukashenko, acting with Putin, said he spoke to Prigozhin and put an agreement on the table that would guarantee the safety of Wagner fighters. To me, this sounds more
Spot gold closed the week with a loss of 1.90% at $1921.47. The highlight of the week was the UK’s core CPI inflation rising to a 31-year high, which stoked concerns among investors as elevated inflation calls for further aggressive rate hikes by the Bank of England amid slowing growth. Bank of England (BoE) hiked
A cloud of recession fears dominated a week full of significant events, with disappointing PMI data, particularly from Eurozone and US, dampening sentiment towards the end. Investors also grappled with mismatched expectations concerning Chinese fiscal stimulus, which added additional pressure on global stock indexes, driving them lower by the end of the week. Nevertheless, the
Share: NZD/USD bulls are looking for a break to the upside to test trendline liquidity. All eyes are on the RBA meeting as per market correlations. NZD/USD has been held below a key trendline resistance for a couple of years but it could be on the verge of a breakout to the upside. However, the Kiwi
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British Hacker Joseph O’Connor, also known online as PlugwalkJoe, has been sentenced to five years in U.S. prison for his role in stealing $794,000 worth of cryptocurrency via a SIM swap attack on a crypto exchange executive back in April 2019. O’Connor was initially arrested in Spain in July 2021 and was extradited to the
The major US stock indices remain in the red and are moving back toward the lows for the day. For the S&P index, its low price today came in at 4343.64. Its current price is at 4346.30 down -35.24 points on the day or -0.80%. The low price is approaching the rising 100-hour moving average
The Kremlin says Yevgeny Prigozhin will leave for Belarus is a deal that was brokered by Belarusian President Alexander Lukashenko. He agreed to leave the country in exchange for charges being dropped. Kremlin spokesman Dmitry Peskov also said that Wagner fighters who didn’t take part in the uprising will sign contracts with the Ministry of