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Federal Reserve Governor Calls For Regulators To Embrace Crypto
Federal Reserve (Fed) Governor Michelle Bowman is urging US regulators to abandon their “overly cautious mind-set” regarding cryptocurrencies, blockchain technology, and artificial intelligence (AI). Speaking at the Wyoming Blockchain Symposium, Bowman emphasized the need for a proactive approach toBitcoinist
Wed, Aug 20
Middle East Crude-Benchmarks hit near two-week high
SINGAPORE, Aug 20 (Reuters) - Middle East crude benchmark spot premiums of Oman, Dubai and Murban extended gains on Wednesday to their highest in nearly two weeks.Traders attributed the strength to closing arbitrage of U.S. crude to Asia and firm buying of some of the grades. India's resumed buy...
Reuters
Wed, Aug 20
UK CPI Rises to 18-Month High — Rate Cut Bets Plunge
TradingKey - Inflationary pressures are heating up once again in the UK. Data released on Wednesday showed that the Consumer Prices Index (CPI) rose 3.8% year-on-year in July, up from 3.6% in June and marking the highest level since January 2024 — an 18-month high.TradingKey
Wed, Aug 20
Pop Mart Soars Over 13%, Market Cap Tops HK$400 Billion; CEO Projects Effortless HK$30 Billion Revenue in 2025
TradingKey - On Wednesday, August 20, Pop Mart (9992.HK) shares soared more than 13% to HK$318.4 during Hong Kong trading, pushing its market cap past the HK$400 billion mark. The stock closed up 12.54% at HK$316.TradingKey
Wed, Aug 20
US examines equity stake in chip makers for CHIPS Act cash grants, sources say
Lutnick seeks equity stake in chip firms for CHIPS Act grantsBessent supports Intel investment to stabilize chip productionNon-voting stake proposed, no control over company operationsBy Andrea Shalal, David Shepardson, Nandita Bose and Max A. Cherney WASHINGTON/SAN FRANCISCO, Aug 19 (Reuters) - ...Reuters
Wed, Aug 20
NZ central bank cuts rates to 3-year low, flags more easing; kiwi tumbles
RBNZ cuts rates by 25 bps, signals more reductionsWarns of global, domestic headwinds to growthTwo of the RBNZ's six committee members voted for 50 bps cutNZ dlr and swaps tumble as markets surprised by dovish toneBy Lucy CraymerWELLINGTON, Aug 20 (Reuters) - New Zealand's central bank cut i...Reuters
Wed, Aug 20
Strategy Stock Plunges to 4-Month Low — Further 30% Decline Possible, Analysts Warn
On Tuesday, August 19, shares of Strategy Inc. ( MSTR) — the public company with the largest Bitcoin holdings — fell more than 7%, breaking below the key $350 support level to close at $336, its lowest price since April 2025.
TradingKey
Wed, Aug 20
RBNZ Cuts Rates, Hints at More Easing; NZD Sinks to Four-Month Low
TradingKey - The Reserve Bank of New Zealand (RBNZ) cut its Official Cash Rate (OCR) by 25 basis points to 3.0%, the lowest level since 2022, in line with market expectations. This marks the eighth rate reduction since the central bank initiated its easing cycle in August 2024, with cumulative...
TradingKey
Wed, Aug 20
“America First” on Steroids — 50% Tariffs Now Hit 407 Steel and Aluminum Products, But Who Will Pay the Price?
TradingKey - On August 19 (local time), the U.S. Department of Commerce announced the expansion of its steel and aluminum tariffs to 407 new product categories, imposing a 50% tariff rate on items including wind turbines, mobile cranes, railway vehicles, furniture, compressors
TradingKey
Wed, Aug 20
U.S. Tech Sell-Off Traced to MIT’s “AI Divide” Report — What It Reveals Is Spooking Investors
TradingKey - On Tuesday, August 19, the Nasdaq Composite, heavily weighted toward technology stocks, plunged 1.4% — its largest single-day drop since August began. Market participants attributed the sudden tech selloff to growing fears of an AI bubble, fueled by recent comments from OpenAI CEO Sam
TradingKey
Wed, Aug 20
Why Is Trump-Backed Intel Still Not a Buy? The Problem Isn’t Money
TradingKey - With the Trump administration planning to take a 10% stake in Intel and SoftBank investing $2 billion, Intel’s stock has surged about 30% in August, pushing its valuation to the highest since 2002. However, Wall Street analysts argue that while government backing may boost the stock in
Gold hits three-week low as USD steadies and Russia-Ukraine peace hopes rise
Gold (XAU/USD) hits a nearly three-week low during the Asian session on Wednesday, with the bears now awaiting a sustained break below the 100-day Simple Moving Average (SMA) before positioning for further losses.
Fxstreet
Wed, Aug 20
USD/INR bounces back as FIIs continue to pare stake in Indian stock market
The Indian Rupee (INR) opens lower against the US Dollar (USD) on Wednesday after a three-day winning streak. The USD/INR rebounds to near 87.30 as the consistent outflow of foreign funds from Indian stock markets, despite the announcement of Goods and Services Tax (GST) reforms by the government,Fxstreet
Wed, Aug 20
US budget deficit forecast $1 trillion higher over next decade, watchdog says
WASHINGTON, Aug 20 (Reuters) - U.S. federal budget deficits will be nearly $1 trillion higher over the next decade than projected in January by the Congressional Budget Office as a result of tax and spending legislation and tariffs, a budget watchdog said on Wednesday.Reuters
Wed, Aug 20
Japan's Nikkei falls for second day on lower chip shares
By Rocky Swift TOKYO, Aug 20 (Reuters) - Japan's Nikkei share average slid for a second day on Wednesday, coming off of record highs and dragged lower by chip-related companies.SoftBank Group 9984.T plunged 7.6%, while Advantest 6857.T, a maker of chip-testing equipment, lost 6.1%. The losses...Reuters
Wed, Aug 20
