Celsius’ bankruptcy filing has revealed some unpleasant surprises about the state of the crypto lending platform, including a $1.2 billion deficit formed largely as a result of user deposits. A chapter 11 bankruptcy document signed off by Celsius CEO Alex Mashinsky on July 14 has revealed that the company holds around $4.3 billion in assets
The NZDUSD peaked in the Asian session at 0.6132 before rotating back to the downside. The run lower followed the overall USD buying and in the process reached a new cycle low at 0.6060 before bouncing higher over the last few hours of trading. The Waller comments led to a spike to the upside that
As per a government statement, Italy’s PM Mario Draghi will resign. Earlier, the governing coalition survived a vote of confidence despite the 5-Star Movements decision to sit out the vote. The PM later met with France’s President Mattarella but was reported he did not resign. Draghi has said if he did not have the support
The global crude benchmark fell as much as 5.1% to trade under $95 a barrel, touching its lowest level since late February. Crude has been in decline since early June on escalating fears the US may be pushed into a recession. Shortly after the war began, Brent futures skyrocketed to above $139 as Russia’s war
Dollar stays strong in early US session after release of another record print of PPI inflation. Buying of Dollar is currently concentrated again Yen and Canadian. But the moves in Aussie and European majors are also picking up. Loonie is the worst performing one today, despite the mega 1% rate hike by BoC yesterday. It’s
Inflation hit hard at the wholesale level in June, as producer prices surged a near-record amount from a year ago due to a big jump in energy costs, the Bureau of Labor Statistics reported Thursday. The producer price index, a measure of the prices received for final demand products, increased 11.3% from a year ago,
In this article MS James Gorman, chairman and chief executive officer of Morgan Stanley, speaks during a Bloomberg Television interview in Beijing, China, on Thursday, May 30, 2019. Giulia Marchi | Bloomberg | Getty Images Morgan Stanley is set to report second-quarter earnings before the opening bell on Thursday. Here’s what Wall Street expects: Earnings:
AUD/USD remains heavy during the week, extending its losses by almost 1.80%. Sentiment remains negative due to high US inflation reports, further cementing aggressive Fed tightening. AUD/USD Price Analysis: Tilted to the downside; unless buyers reclaim 0.6800, the further downside pressure remains. The AUD/USD trims two consecutive days of gains and slides during the North
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This snippet from JPM comes cia eFX. For bank trade ideas, check out eFX Plus . For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109 per month. Get it here . The USD/CAD rally stalls again at a key confluence of resistance near 1.30 We
The dollar is keeping in good stead after the hot US CPI data yesterday, with EUR/USD still flirting with parity and USD/JPY racing above 138.00 on the day. The latter sees buyers establish a firmer footing for a breakout towards 140.00, as Treasury yields also bounce back a little after the retreat yesterday. 10-year yields
NEW DELHI: Gold prices dropped on Thursday after red hot US inflation numbers spooked investors, stoking huge rate hike fears in the upcoming Fed policy meeting. The Federal Reserve is seen ramping up its battle with sky-high inflation with a supersized 100 basis points rate hike at its policy meeting on July 26-27. Gold futures
Yen’s selloff continues in Asian session today, on expectation of further divergence in BoJ’s policy with other major central banks. BoC’s mega 100bps hike overnight prompted talks that Fed could follow later in the month, given that headline consumer inflation is showing no sign of even plateauing. Dollar remains the strongest one for the week,
GBP/USD met with a fresh supply on Thursday and dropped back closer to the YTD low. Aggressive Fed rate hike bets, recession fears underpinned the USD and exerted pressure. Brexit woes continued acting as a headwind for sterling and contributed to the selling bias. The GBP/USD pair came under some renewed selling pressure on Thursday
Crypto lending platform Celsius confirmed on July 13 that it has initiated Chapter 11 bankruptcy proceedings in the Southern District Court of New York. The announcement was shared on the company’s Twitter and shared with account holders via email on July 13, with a vow to “emerge from Chapter 11 positioned for success in the
The AUDUSD has not been spared from the downside seen in the forex market today. Just prior to the CPI report, the pair moved up to test its 200 hour moving average (green line in the chart above). The subsequent tumble to the downside on dollar buying sent the price to a new session low