Meta hires Salesforce’s CEO of AI, Clara Shih, to lead new business AI group
Meta has recruited Clara Shih, Salesforce’s CEO of AI, to spearhead its efforts in the competitive business AI landscape. Shih’s appointment signals Meta’s increasing focus on enterprise AI as it seeks to expand beyond consumer-facing technologies into tools that cater to businesses. Known for her expertise in AI and digital transformation, Shih brings a wealth […]
Top Aussie banks join hands to combat fraud and scam in banking payments
Australia’s top banks have announced a collaborative initiative to combat rising fraud and scams targeting banking payments. The joint effort, involving major players like Commonwealth Bank and Westpac, aims to implement advanced security measures and share intelligence to safeguard customers. This unprecedented partnership highlights the growing threat of cybercrime in the financial sector and the […]
Asian Stocks Trade Muted Ahead of Nvidia: Markets Wrap
Asian stock markets exhibited minimal movement on Wednesday, with investors exercising caution ahead of Nvidia‘s upcoming earnings report, which is anticipated to provide insights into the semiconductor industry’s health and broader economic trends. In Japan, the Nikkei 225 index edged up by 0.2%, while Hong Kong’s Hang Seng Index remained virtually unchanged. China’s Shanghai Composite […]
NZD/USD weakens to near 0.5900 on dovish RBNZ bets, geopolitical risks
The NZD/USD pair is sliding toward 0.5900, weighed down by growing expectations of a dovish stance from the Reserve Bank of New Zealand (RBNZ) and escalating geopolitical tensions. Investors are pricing in the possibility of no further rate hikes, particularly as New Zealand’s economic data signals a slowdown. This shift has dampened demand for the […]
XRP on the verge of a rally to $1.96 as investors maintain bullish sentiment
XRP appears poised for a significant price surge as bullish momentum gathers steam. Investor sentiment remains strong, driven by optimism around Ripple’s legal clarity and its expanding use cases in cross-border payments. Analysts highlight that XRP’s recent price movements suggest the potential to rally towards $1.96, a milestone not seen in years. Market watchers attribute […]
PBOC leaves Loan Prime Rates unchanged in November
China’s People’s Bank of China (PBOC) held its Loan Prime Rates (LPR) steady in November, signaling a cautious approach amid persistent economic challenges. The one-year LPR remained at 3.45%, and the five-year LPR, critical for mortgage pricing, stayed at 4.20%, aligning with market expectations. This decision reflects the central bank’s effort to maintain economic stability […]
PBOC sets USD/CNY reference rate at 7.1935 vs. 7.1911 previous
The People’s Bank of China (PBOC) has set the USD/CNY reference rate at 7.1935, slightly higher than the previous 7.1911, signaling subtle adjustments amid ongoing currency management efforts. The new rate reflects Beijing’s focus on balancing economic pressures while maintaining control over the yuan’s stability against the dollar. This modest upward revision follows global attention […]
WTI holds steady below $69.50 amid mounting Russia-Ukraine tensions
WTI crude oil prices remained stable below $69.50 as escalating tensions between Russia and Ukraine kept markets on edge. Investors are closely monitoring the conflict’s impact on energy supply chains, particularly with concerns over potential disruptions to oil exports. Despite the heightened geopolitical risk, a strong U.S. dollar and softer demand forecasts have capped any […]
Gold Holds Gain as Russia’s Nuclear Shift Fans Demand for Havens
Gold prices held steady near recent highs as concerns over Russia’s nuclear policy fueled investor interest in safe-haven assets. The metal’s resilience comes amid heightened geopolitical tensions, pushing demand despite a broadly stronger U.S. dollar and stable bond yields. Analysts point to Moscow’s announcement of expanded nuclear capabilities as a key driver for the market’s […]
EUR/USD looks for higher ground above 1.06
The EUR/USD pair is attempting to gain traction above the critical 1.06 level as market participants weigh economic data and shifting monetary policy expectations. The euro has shown resilience despite lingering concerns over the eurozone’s economic performance, bolstered by optimism surrounding global risk sentiment. On the other hand, the dollar has softened slightly amid speculation […]