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Forex
USD/MXN Price Forecast: Finds resistance around 19.20 ahead of nine-day EMA
USD/MXN inches higher after registering losses in the previous session, trading around 19.20 during the Asian hours on Thursday. The daily chart’s technical analysis suggests a prevailing bearish bias, with the pair consolidating within a descending channel pattern.
Fxstreet
Thu, Jun 5
Cryptocurrencies
Standard Chartered says corporate demand for Bitcoin is about to make it crash
Corporate wallets are filling up with Bitcoin, and Standard Chartered thinks that could soon blow up in everyone’s face. In a new report released yesterday, the bank said businesses that recently joined the crypto frenzy are loading up at high prices—and if the market takes a hit, they might dump their coins fast. That’s not […]Cryptopolitan
Thu, Jun 5
Forex
Aussie little troubled by soft data, kiwi eyes 7-month top
SYDNEY, June 5 (Reuters) - The Australian dollar was little troubled by soft data on Thursday as fears of a tariff-induced slowdown in the U.S. lifted Treasuries and dragged down the greenback, while the kiwi was perched within a whisker of a seven-month high.The Aussie AUD=D3 was flat at $0.6493, h...Reuters
Thu, Jun 5
Commodities
Gold price struggles to lure buyers; remains below multi-week high touched on Tuesday
Gold price (XAU/USD) edges lower following an Asian session uptick to the $3,384 area amid a slight US Dollar (USD) bounce, though the near-term bias seems tilted firmly in favor of bullish traders.Fxstreet
Thu, Jun 5
Stocks
MORNING BID EUROPE-Switch 2 debuts but no fun-and-games in trade
A look at the day ahead in European and global markets from Rocky Swift It's Switch 2 Day! The much-anticipated sequel to Nintendo's immensely successful portable gaming unit goes on sale around the world on Thursday. But don't bother trying to find one: They're all sold out.The ...Reuters
Thu, Jun 5
Forex
China's yuan holds firm as traders await US-China talks
HONG KONG, June 5 (Reuters) - China's yuan hovered around its strongest level against the U.S. dollar in nearly two weeks on Thursday, buoyed by persistent weakness in the greenback as markets awaited further clarity on trade negotiations and potential tariff developments.The yuan CNY=CFXS eased...Reuters
Thu, Jun 5
Other
Citi to cut 3,500 tech jobs in China in global revamp
By Selena Li HONG KONG, June 5 (Reuters) - Citigroup Inc C.N will reduce the number of employees at two of its technology centres in China by about 3,500, the bank said on Thursday, as it pushes to simplify and shrink global tech operations to improve risk and data management.The reduction of st...Reuters
Thu, Jun 5
Stocks
Indian drugmaker Dr Reddy's up on partnership to develop cancer immunotherapy
** India's Dr Reddy's Laboratories REDY.NS climbs 2.2% to 1,278.80 rupees** Stock top gainer on pharma index .NIPHARM, which is trading 0.9% higher** Drugmaker partners with U.S.-listed biosimilars maker Alvotech ALVO.O to develop a biosimilar for Merck's MRK.N cancer immunotherapy Keytr...Reuters
Thu, Jun 5
Forex
USD/CAD Price Forecast: More downside towards 1.3600 looks likely
The USD/CAD pair appears vulnerable near an over eight-month low, slightly above 1.3650 during Asian trading hours on Thursday. The Loonie pair stays under pressure as the US Dollar (USD) remains on backfoot amid renewed United States (US) stagflation risks and trade uncertainty.
Fxstreet
Thu, Jun 5
Commodities
CORRECTED-RPT-China increases scrutiny of rare earth magnets with new tracking system
BEIJING, June 4 (Reuters) - China has introduced a tracking system for its rare earth magnet sector, three sources said, as its export restrictions on them begin to cut off customers around the world.The national tracking system, which went into effect last week, requires producers to submit extra i...Reuters
Thu, Jun 5
Stocks
Australia's PainChek drops most in nearly 8 years on FDA approval delay
** PainChek PCK.AX plunges as much as ~31% to A$0.038; marks biggest intraday pct drop since June 18, 2017** Stock hits lowest since May 7** Medical devices maker flags potential delay in U.S. FDA clearance for its pain assessment app** Expects clearance by mid-to-late September instead of the first...Reuters
Thu, Jun 5
Cryptocurrencies
Bitcoin Reserve Gets Military Nod, Senator Predicts Explosive 10-Year Surge
Senator Cynthia Lummis, who leads the Senate Subcommittee on Digital Assets, says the US military backs a plan to create a Strategic Bitcoin Reserve.Jamie Dimon, the CEO of a major bank, recently called that plan a waste. Lummis pushed back. Related Reading: XRP Could Transform Your Finances Long Be...NewsBTC
Thu, Jun 5
Cryptocurrencies
Caffeine And Bitcoin: Spanish Coffee Brand Pours $1 Billion Into Crypto
A Spanish coffee chain is planning a radical shift in its business model: blending brand with bitcoin. Vanadi Coffee SA, known for its espresso drinks and café locations, wants to buy about $1.13 billion (€1 billion) worth of crypto. Related Reading: Blockchain Group Buys 624 BTC For $68.6M, Aiming ...Bitcoinist
Thu, Jun 5
Other
Germany's Merz to face Trump in Oval Office on inaugural trip
Meeting to be closely watched after Oval Office fireworks with other leadersWars in Ukraine and Middle East, and trade likely on agendaCould set tone for US-German relations for yearsBy Sarah Marsh, Andrea Shalal and Andreas Rinke BERLIN/WASHINGTON, June 5 (Reuters) - Germany's new chancellor...Reuters
Thu, Jun 5
