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7 03, 2024

Q4 2023: U.S. Nonfarm Productivity Soars, Fed Eyes Moderate Costs for Rate Strategy

By |2024-03-07T16:32:53+02:00March 7, 2024|Forex News|0 Comments


The growth in Unit Labor Costs, however, was more contained at 0.4% in Q4 2023. This rise, attributed to a 3.6% increase in hourly compensation, was somewhat moderated by the concurrent rise in productivity. Over the last four quarters, Unit Labor Costs have increased by 2.5%, indicating sustained pressure on wages but balanced by productivity gains.

In the manufacturing sector, a mixed picture emerged. While productivity in the broader manufacturing sector increased modestly, durable manufacturing experienced a decline, indicative of sector-specific challenges.

Fed Policy Implications

The resilience in productivity growth, coupled with moderate increases in Unit Labor Costs, paints a picture of an economy that is managing wage pressures effectively without significant inflationary implications. This balance is crucial for the Federal Reserve as it navigates its dual mandate of price stability and maximum employment.

Given this backdrop, the Federal Reserve might view these trends as supportive of a less aggressive rate hike policy. The efficiency gains in labor productivity suggest that the economy can grow without necessarily stoking inflation, a factor likely to be considered in upcoming Federal Open Market Committee (FOMC) meetings.

Impact on Timing of Rate Cuts

The moderation in Unit Labor Costs growth is particularly significant for the timing of rate cuts. If this trend persists, it could signal to the Fed that the wage-driven inflationary pressures are under control, potentially opening the door for a softer stance on interest rates. However, it’s important to note that the Fed’s decisions will also be influenced by other economic indicators, including overall inflation trends, employment data, and global economic conditions.

The increase in real hourly compensation, especially in the manufacturing sector, reflects a healthy labor market dynamic where workers’ pay is keeping pace with inflation to some extent. This aspect might be viewed favorably by the Fed, as it suggests a balanced growth scenario without overheating the economy.



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7 03, 2024

2024-03-07 | NEO:DEFI | Press Release

By |2024-03-07T15:54:49+02:00March 7, 2024|Forex News|0 Comments


  • Inaugural Bitcoin Investor Day: DeFi Technologies’ subsidiary Reflexivity Research is hosting its inaugural Bitcoin Investor Day on March 22nd, 2024, in New York City, aimed at bridging the power of traditional finance with the innovation of Bitcoin.
  • Event Highlights and Participation: The event, moderated by Anthony Pompliano, co-founder of Reflexivity, will feature discussions on Bitcoin‘s future in traditional and institutional finance, with speakers like Cathie Wood, Anthony Scaramucci, and Mike Novogratz, targeting institutional investors, capital allocators, and entrepreneurs.

TORONTO, March 7, 2024 /PRNewswire/ – DeFi Technologies Inc. (the “Company” or “DeFi Technologies“) (NEO: DEFI) (GR: RB9) (OTC: DEFTF), a crypto native technology company that pioneers the convergence of traditional capital markets with the world of decentralised finance (“DeFi“), is pleased to announce that its subsidiary, Reflexivity Research, will be hosting its inaugural Bitcoin Investor Day. This premier event is set to take place on Friday, March 22nd from 9:30 AM to 4:30 PM EST in New York City.

The Bitcoin Investor Day, orchestrated by Reflexivity Research, aims to assemble hundreds of institutional investors, capital allocators, and forward-thinking entrepreneurs. The day-long event, moderated by the co-founder of Reflexivity, Anthony Pompliano, promises a lineup of top-tier speakers, unmatched networking opportunities, and a series of profound discussions on the future of Bitcoin in the realms of traditional and institutional finance.

Reflecting on the importance of insightful discourse, the event will feature a stellar lineup of speakers, including Cathie Wood of ARK Invest, Anthony Scaramucci of SkyBridge Capital, Mike Novogratz of Galaxy Digital, and many other executives from the digital asset sector.

Bitcoin Investor Day will be in New York, New York, with doors opening at 9:30 AM. The event schedule promises a full day of engaging programming, culminating in a closing happy hour at 5 PM. Interested parties are encouraged to secure their spots promptly, as tickets are priced at $50.00. Registration details and additional information can be found on the event’s official webpage.

DeFi Technologies and Reflexivity Research would like to express their sincere thanks to the event’s sponsors—Copper, Arch, Amberdata, Valour, Dream Startup Job, and Eden—for their steadfast support and significant contributions, ensuring the Bitcoin Investor Day is poised for success.

About Reflexivity Research LLC

Reflexivity Research LLC is a leading research firm specializing in the creation of high-quality, in-depth research reports for the bitcoin and cryptocurrency industry, empowering investors with valuable insights. Reflexivity Research is a wholly owned subsidiary of DeFi Technologies Inc. (NEO: DEFI) (GR: RB9) (OTC: DEFTF). For more information please visit https://www.reflexivityresearch.com/

About DeFi Technologies

DeFi Technologies Inc. (NEO: DEFI) (GR: RB9) (OTC: DEFTF) is a crypto native technology company that pioneers the convergence of traditional capital markets with the world of decentralised finance (DeFi).

With a dedicated focus on industry-leading Web3 technologies, DeFi Technologies aims to provide widespread investor access to the future of finance. Backed by an esteemed team of professionals with extensive experience in financial markets and digital assets, we are committed to revolutionising the way individuals and institutions interact with the evolving financial ecosystem.

Join DeFi Technologies’ community on Linkedin and Twitter, and for more details, visit https://defi.tech/

About Valour

Valour Inc. issues exchange traded products (ETPs) that enable retail and institutional investors to access digital assets like Bitcoin in a simple and secure way via their traditional bank account. Established in 2019, Valour is a wholly owned subsidiary of DeFi Technologies Inc. (NEO: DEFI) (GR: RB9) (OTC: DEFTF).

For more information on Valour, visit https://valour.com

Cautionary note regarding forward-looking information:

This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to the benefits of the Acquisition; development and listing of future ETPs; the regulatory environment with respect to the growth and adoption of decentralized finance; the pursuit by DeFi and its subsidiaries of business opportunities; and the merits or potential returns of any such opportunities. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include, but is not limited the acceptance of Valour exchange traded products by exchanges; growth and development of decentralised finance and cryptocurrency sector; rules and regulations with respect to decentralised finance and cryptocurrency; general business, economic, competitive, political and social uncertainties. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/defi-technologies-announces-inaugural-bitcoin-investor-day-hosted-by-subsidiary-reflexivity-research-302082587.html

SOURCE DeFi Technologies Inc.





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7 03, 2024

Ethereum in Spotlight as CFTC Chairman Testifies Before Congress

By |2024-03-07T15:46:37+02:00March 7, 2024|Forex News|0 Comments


Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

In a congressional hearing, Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam shed light on the regulatory scrutiny surrounding Ethereum (ETH) as the cryptocurrency garners increasing attention from regulators and market participants alike.

FOX Business journalist Eleanor Terrett shared the news on X with the CFTC chairman who was testifying before members of Congress.

Behnam, testifying before the House Agriculture Committee’s GOP members, revealed that the CFTC is actively collaborating with Chairman Gary Gensler and the SEC on the classification of Ethereum as either a security or nonsecurity. 

The focus on Ethereum’s regulatory status comes amid plans by Prometheum Inc. to offer custody services for Ethereum on its platform.

Implications of SEC’s decision on Ethereum

The chairman emphasized the significance of the SEC’s decision regarding Prometheum’s assertion that Ethereum should be classified as a security. Behnam cautioned that if the SEC validates Prometheum’s claims and deems Ethereum a security, CFTC registrants that facilitate the listing of Ethereum could potentially find themselves in violation of compliance standards.

Behnam emphasized the working relationship “with Gary Gensler and the agency to ensure that whatever steps are taken are deliberate and they understand what  the consequences would be if there was a decision by the agency to determine that Ether was a security.” Behnam went on to emphasize the importance of safeguarding the integrity of the markets at present.

Some members of the crypto community have scrutinized and signed petitions against Gary Gensler in the past, questioning the consistency of his regulatory approach despite his persistent advocacy for increased investor protection in the cryptocurrency market.

The February transfer of 4,300 ETH (worth around $10.7 million) to the Kraken exchange by Jeffrey Wilcke, one of Ethereum’s cofounders, has also triggered diverse responses from across the cryptocurrency community.

The recent testimony by Rostin Behnam highlights the complex regulatory laws surrounding cryptocurrencies like Ethereum. Meanwhile, analysts have acknowledged Ethereum’s performance lately and is on the verge of achieving new milestones as significant upgrades and shifts in investment take place.





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7 03, 2024

US February Challenger layoffs 84.64k vs 82.31k prior

By |2024-03-07T15:00:42+02:00March 7, 2024|Forex News|0 Comments


That is the highest reading since March last year and the highest number of job cuts for the month of February since 2009. Tech saw the biggest number of layoffs last month and is leading all industries after the first two months this year. That being said, the number of cuts in the sector are still down by 55% compared to the first two months in 2023.

This article was written by Justin Low at www.forexlive.com.



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7 03, 2024

Investors bullish on DeFi cryptos in 2024; Polygon (MATIC) and Retik Finance (RETIK) emerge as top picks – Digital Transformation News

By |2024-03-07T14:23:49+02:00March 7, 2024|Forex News|0 Comments


2024 has marked a significant surge in enthusiasm among investors for decentralized finance (DeFi) tokens. Among the myriad of options available, two stand out prominently: Polygon (MATIC) and Retik Finance (RETIK). These two DeFi gems have captured the attention of investors, with projections indicating substantial growth potential throughout the year.

Retik Finance(RETIK): A Surprising Contender Retik Finance (RETIK) has emerged as a dark horse in the realm of DeFi tokens, stunning analysts and investors alike with its unprecedented performance during the presale stage. With a remarkable accumulation of over $32 million, Retik Finance (RETIK) has shattered expectations, paving the way for a promising future. The platform’s ability to attract such significant investment highlights the growing appetite for innovative DeFi projects and underscores Retik Finance’s potential to disrupt the traditional financial landscape. Investors, buoyed by the success of Retik Finance’s presale, are now bullish on its prospects post-listing. Projections indicate a target price of $5 in 2024, reflecting the confidence of investors in the token’s trajectory. 

As Retik Finance prepares for its listing, anticipation runs high, with investors eagerly awaiting vital information about the token listing and vesting schedule, which will be disseminated through Retik Finance’s active social media channels. The robust performance of Retik Finance in the presale phase underscores its potential as an evolving token in the DeFi space. With a clear roadmap and a growing community of supporters, Retik Finance is poised to make waves in 2024 and beyond. As the platform continues to innovate and expand its offerings, it is likely to attract even more attention from investors seeking exposure to the burgeoning DeFi sector.

Polygon (MATIC): Riding the Wave of Success Amidst the bullish sentiment surrounding DeFi tokens, Polygon (MATIC) has emerged as a frontrunner, captivating investors with its impressive performance. February proved to be a particularly fruitful month for Polygon, as it experienced a significant upward trajectory in its price. Since the beginning of February, MATIC surged from $0.76 to $1.02, marking a remarkable 34.21% gain. This surge has positioned Polygon’s native token, MATIC, as one of the top altcoins to watch in 2024. Despite a slight dip towards the end of February, with MATIC hovering around $0.97, investors remain optimistic about its future prospects. The technical analysis of Polygon indicates a slightly bullish stance, further fueling investors’ confidence in its trajectory. 

With MATIC trading above the 50 and 200-day Simple Moving Averages (SMAs), indicators point towards a positive outlook for the token. Moreover, Polygon’s recent rollout of its AggLayer has garnered significant attention, with investors viewing it as a catalyst for further price appreciation. The AggLayer is poised to enhance user experience and interoperability within the Polygon ecosystem, strengthening its position in the DeFi market. As Polygon continues to innovate and expand its offerings, investors are closely monitoring its progress and positioning themselves to capitalize on potential gains. With its strong fundamentals and growing adoption, MATIC remains a standout contender in the ever-evolving landscape of decentralized finance.

Investor Sentiment and Outlook

The bullish sentiment surrounding DeFi tokens, particularly Polygon and Retik Finance, underscores the growing interest and confidence in the decentralized finance space. As investors seek out opportunities for growth and diversification within their portfolios, tokens like MATIC and RETIK present compelling options. While Retik Finance’s remarkable performance in its presale stage has instilled confidence in its potential, Polygon’s consistent growth and technical advancements continue to attract investors. With both tokens positioned for further success in 2024, investors are optimistic about the opportunities presented by the DeFi market. 

As the cryptocurrency landscape evolves and matures, investors are advised to conduct thorough research and exercise caution when navigating the volatile market. While bullish projections indicate promising potential for tokens like Polygon and Retik Finance, prudent investment strategies remain paramount to mitigate risks and maximize returns in the ever-changing world of cryptocurrencies. In conclusion, 2024 holds immense promise for DeFi tokens, with Polygon and Retik Finance emerging as top picks among investors. With compelling fundamentals, technical advancements, and growing investor interest, these tokens are poised for significant growth and adoption in the year ahead.

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7 03, 2024

Technical Analysis: NZDUSD stuck in a rectangle pattern

By |2024-03-07T14:15:00+02:00March 7, 2024|Forex News|0 Comments


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7 03, 2024

Apple shares fall following $2bn fine LeapRate

By |2024-03-07T13:28:30+02:00March 7, 2024|Forex News|0 Comments


Apple (AAPL) shares lost more than 3% of their value following news of a giant fine levied by the European Commission in an anti-trust case that has seen the company pitted against Spotify (SPOT). The tech giant has been told to pay a total of $2bn after being found guilty of restricting its rivals in the music streaming business.

Apple shares fall following bn fine LeapRate

The case revolves around Spotify, which complained in 2019 that its users were prevented from finding out about alternative payment options apart from the App Store. The EU raised a case last year based on this and other companies whose customers are in the same situation.

These restrictions were classed as unfair trading conditions in the recent judgement, making this Apple’s first EU fine and one of the largest ever levied by the European authorities.


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News of the fine being four times what had been expected soon saw AAPL shares drop over 3% on Monday, a trend that continued on Tuesday. It has been reported that the fine was so big because the basic figure of €40m had a huge deterrent added to it, equivalent to 0.5% of Apple’s total global turnover.

A Spotify statement welcomed the decision, but said that it “does not solve Apple’s bad behaviour towards developers beyond music streaming”. The Cupertino-based company is set to appeal the fine, and it’s believed that taking it to the General Court in Luxembourg could see the case drag on for years. In the meantime, Apple will have to pay the fine and comply with the court’s requirements to no longer carry out this approach.



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7 03, 2024

DeFi Platform Targeting Chainlink’s Market Share has Raised over $3 Million with 3,000 Unique Holders

By |2024-03-07T12:52:49+02:00March 7, 2024|Forex News|0 Comments


DISCLAIMER: This article is a SPONSORED Press Release and does not constitute Finbold’s editorial content nor undergo monitoring. Crypto assets/products involve significant risks. Do not invest unless you are prepared to lose your entire investment. For a full disclaimer, please . If you encounter any issues, kindly report them to [email protected].

Chainlink (LINK) is a leading blockchain that facilitates connectivity between other blockchains. The Oracle network is considered to be amongst the leading decentralized projects and is currently ranked at #14, according to CoinMarketCap. 

However, Chainlink has recently been struggling to break the resistance of $21. Despite repeated breakout attempts, the project is currently at $18.9 and is down 6.17% on a daily level. 

Chainlink is currently at a Market Cap of $12.1 Billion and has been one of the most notable projects. 

In the crypto space, Chainlink used to be the center of attention. However, during the last bull run, the project raised concerns about sustained selling from the team. The coin was one of the lagging projects from the previous bull run because the team constantly sold tokens on the market. Chainlinks’ price reached an all-time high of $52.88 on May 9, 2021. After that, its price started to decline and never recovered to go beyond $50.

A bull run is expected this year, 2024, and multiple projects have been launched, and some have produced outstanding returns. Investors were hopeful that Chainlink might recover this time and break the resistance of $20, but it is failing to do that. 

Recent reports suggest rumors about the upcoming launch of LINK’s ETF, as 21 Shares currently hold 693,639 LINK tokens. However, analysts remain skeptical about these predictions. Investors think the project might take a nose dive if the ETF news is a rumor. 

While Chainlink is struggling to gain traction, investors are now looking toward emerging opportunities because they have higher upside potential. One such project is Algotech (ALGT). It is one of the promising newly launched projects and is on its way to surpassing Chainlink’s market share. 

Algotech Races Past $2 Million in Public Presale 

Algotech (ALGT) grew a massive amount in a short period and is becoming the best new DeFi platform. The TradFi platform is based on emerging technologies like AI and machine learning. 

Traders are particularly drawn to Algotech’s innovative offerings, including breakout detection, hedging, mean reversion, and arbitrage trading, which promise to revolutionize trading strategies. 

This platform recently made news after raising over $2 Million in its public presale within two weeks with 3,000 unique holders. Algotech has sold over 45 Million ALGT tokens and is showing no signs of slowing down. Investors are jumping at the chance to grab tokens at $0.06 before the token price increases to $0.08. 

Algotech’s roadmap and deflationary tokenomics are also critical factors for investors entering this project. The platform gives governance rights and profit shares to early investors, and it also makes trading accessible to a broader audience through Social Trading features. 

With Chainlink’s investors shifting to Algotech, this is the perfect time to become an early holder in the project. Some analysts think the project could go up to $1 when listed on major exchanges. 

Learn more about this project: 

Visit Algotech Presale

Join The Algotech Community



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7 03, 2024

Egyptian pound stable after devaluation, IMF deal By Reuters

By |2024-03-07T12:41:53+02:00March 7, 2024|Forex News|0 Comments


© Reuters. FILE PHOTO: People wait on line to withdraw money from ATM machines at Banque Misr in Cairo, Egypt, March 6, 2024. REUTERS/Amr Abdallah Dalsh/File Photo

By Nafisa Eltahir

(Reuters) -Egypt’s pound held steady on Thursday, a day after the central bank let the currency plunge and announced a shift to a more flexible exchange rate system as Cairo secured an expanded $8 billion programme with the International Monetary Fund.

The pound stayed early trade in the same range around 49.5 to the dollar it had settled at near closing on Wednesday, LSEG data showed. Before Wednesday’s de-facto devaluation and a steep interest rate hike, the central bank has held the currency for about a year at just under 31 pounds to the dollar.

A more flexible exchange rate, long a key demand from the IMF, is seen as crucial for restoring investor confidence in an economy that has been hobbled for the last two years by a foreign currency shortage.

Egypt has promised such a move in the past, only to resume holding the currency at a fixed rate, while much of the economy depended on a black market rate that fell as low as 70 pounds, which central bank governor Hassan Abdalla described on Wednesday as a “disease” that reflected a lack of trust in the financial system.

“Thankfully, I can stand here today and say we have enough to fulfil our obligations and more,” he said.

The central bank would still have the ability to intervene, as in other countries, in the case of “illogical movements,” Abdalla said.

The IMF, which agreed to add $5 billion to its existing $3 billion loan programme with Egypt, has said it is looking for a sustainable and unified exchange rate that was determined by the market.

Under the programme, Egypt has committed to undertake structural reforms to stabilise prices, manage the debt burden and encourage private-sector growth. On Wednesday, Abdallah said that Egyptian interest rates, long amongst the highest globally, would now be on a “downward track.”

The pound’s devaluation and the agreement with the IMF come two weeks after Egypt signed an investment deal with Emirati sovereign fund ADQ that includes $24 billion payment for rights to develop a prime stretch of Mediterranean coastline.

It also includes the conversion of $11 billion in existing deposits to be used for unspecified projects across Egypt. The Egyptian government said the total of $35 billion would be transferred within two months.

The foreign currency shortage has curbed local business activity and led to backlogs at ports and delays in commodity payments.

Remittances from Egyptians working abroad, the country’s top single source of foreign currency, slowed sharply last year amid expectations that the pound would fall.

Since early 2022, when the foreign currency shortage worsened, the pound has now lost more than two-thirds of its value against the dollar in a series of staggered devaluations.



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7 03, 2024

Avalanche Takes Flight with Teleporter Launch: Your Guide to Trading AVAX Today

By |2024-03-07T11:54:20+02:00March 7, 2024|Forex News|0 Comments


Arslan Butt

Index & Commodity Analyst

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.





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