CURRENCY CALL
Are we ‘like’ done here? X’s move to hide likes is the latest sign of their declining power as social media currency
Anushka Kulkarni expresses disappointment over X's decision to hide the "Likes" tab, which she and others used to subtly vet potential romantic interests. She laments the loss of authenticity and charm in likes, questioning whether likes are now being used as private bookmarks or manipulated by bots. The trend of hiding likes has been seen across social media platforms like Instagram and YouTube, prompting varied reactions among users and raising concerns about privacy and social dynamics online.
Dollar at three-week lows; pound takes UK election in stride
The US dollar nears three-week lows awaiting payrolls data impact, while the pound remains strong amid UK election expectations. Euro stable pre-French election. Yen rebounds cautiously. Australian dollar near six-month highs. Bitcoin slightly down.
What are the chances of Kamala Harris replacing Joe Biden? Find out what does this crypto-currency prediction market say
Polymarket which is a crypto-currency prediction market has predicted that VP Kamala Harris is surging ahead in the presidential race. She may replace Biden.
India set for more global attention as bond inclusion begins
India's government bonds enter JPMorgan's index, attracting billions in inflows, driven by positive economic indicators, high yields, and market performance, positioning India as a top choice for global investors.
What would Japanese intervention to boost a weak yen look like?
Amid market uncertainties and political pressures, Prime Minister Fumio Kishida considers intervening to stabilize the yen ahead of the ruling party leadership race. The effectiveness of intervention in addressing public concerns over the weak yen and rising living costs remains uncertain.
''Hamster'' crypto craze sweeps across Iran, highlights economic malaise ahead of presidential election
During an early June heatwave in Tehran, cab drivers, bikers, and pedestrians tap away on their phones playing the "Hamster Kombat" app, seeking potential wealth amid Iran's economic struggles due to Western sanctions and high inflation. With the upcoming presidential election, Iranians are turning to cryptocurrency and mobile games for hope, despite warnings from authorities about distractions and security risks associated with such apps.
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Learn with ETMarkets: Why copper could lead to riches and how to call your trades?
Investing in base metals, including copper, offers diversification and hedging against economic uncertainties, crucial for industrial growth. Copper's widespread applications in electrical, construction, and green technologies make it a standout choice. Understanding market dynamics and leveraging technical analysis are key for informed investment decisions in this essential sector.
Dollar steady ahead of inflation reading; yen teeters toward 160
The dollar steadied on Monday as traders awaited clues on U.S. inflation influencing interest rates, while Japanese authorities' actions had little impact on the yen's decline to 159.94 per dollar, its lowest since April 29.
Petrodollar, it's alive & flowing
Reports of demise of the dollar as a reserve currency due to Saudi Arabia potentially pricing oil in other currencies are exaggerated. The 'petrodollar agreement' between the US and Saudi Arabia is not confirmed, possibly not existing since 1974.
Currency traders readying for a ‘Vol Killer’ summer after Fed
Investors may be disappointed as currency volatility is expected to remain low despite initial signs of turbulence. The market reacted to weak inflation data and Powell's rate cut projection, causing the FX Volatility Index to fall. Traders now anticipate narrow currency ranges over the summer.
BRICS calls for enhanced use of local currencies in trade between member countries
"They recalled the paragraph 45 of the Johannesburg II Declaration tasking the Finance Ministers and Central Bank Governors of the BRICS countries to consider the issue of local currencies, payment instruments and platforms and to report back to the BRICS Leaders," according to the Joint Statement.
Dollar or other currencies? How the US is daring the world to find a dollar alternative
The United States is challenging its own foundations as the world's reserve currency with attacks on the legal system following Donald Trump's conviction. Despite growing consternation, no credible alternative has emerged. The dollar's dominance stems from U.S. democratic principles, but threats loom as sanctions and political turmoil test its credibility.
Euro slips to one-month low as Macron calls French election
The euro fell as French President Emmanuel Macron called a shock election after far-right gains in European Parliament elections. U.S. nonfarm payrolls data showed job growth exceeding expectations, impacting Fed rate cut expectations.
Putin urges major expansion of Russian financial markets, cutting use of Western currencies
Putin emphasized the need for Russia to reduce imports, increase the use of non-Western currencies in trade settlements, and expand its domestic financial markets. He highlighted the growth in trade with Asia and the increasing use of the Russian rouble in external trade. Putin also mentioned the importance of boosting the share of settlements in BRICS currencies and reducing reliance on "toxic" currencies of unfriendly states. He stressed the importance of creating competitive production to reduce imports and increasing investment in fixed assets.
Operators of illegal betting apps moving from Dubai to Sri Lanka
As Dubai's scrutiny intensifies on the online gambling empire Mahadev, illegal betting operators are relocating to Sri Lanka. Offshore call centers and offices, crucial for these betting apps, are being established there. Staff running multiple betting websites are now operating discreetly from Sri Lankan villas, drawn by the country's cheaper costs and less rigorous enforcement compared to Dubai.
7 top cryptos to buy in 2024 for the next bull run
The 2024 Bitcoin halving occurred in April, impacting the crypto market. Altcoins present diversification opportunities by combining VR experiences. Research is crucial for successful crypto investing to navigate market trends and regulations.
Asia stocks gain, dollar drifts as inflation tests await
Asian stocks rose for the fourth month, while the dollar drifted lower. Investors await inflation readings from Europe and the U.S. for interest rate guidance.
Wall Street returns to T+1 stock trading after a century
The switch to the system known as T+1 — abandoned in the earlier era as volumes became unwieldy — is ultimately intended to reduce risk in the financial system.
RBI buys 1.5 times more gold in January-April than whole of 2023
The Reserve Bank held 827. 69 tonnes worth of gold as a part of its foreign exchange reserves as of April 26,2024, up from 805 tonnes as of end December according to the latest Reserve bank of India data.
Dollar consolidates as Fed urges patience; markets await meeting minutes
Investors have been shoring up rate cut bets after a milder inflation reading last week boosted expectations for U.S. rate cuts this year.
HSBC and StanChart step up GIFT City play, buy stakes in CCIL-IFSC
"Being the global bank that we are, what we do, therefore, is connect India to the rest of the world and connect the rest of the world to India and GIFT is clearly onshoring what was happening offshore," HSBC India CEO Hitendra Dave told ET.
Forex settlement next step by GIFT to onshore what's offshore
GIFT City to launch foreign currency settlement system chaired by K Rajaraman, IFSCA, supported by RBI and Clearing Corporation of India. System to settle US dollar transactions between IBUs in real-time. CCIL subsidiary to operate FCSS, aiming for operation by October 2024. Other currencies may be added later
Sebi suggests local regulators oversee crypto trading
Both sets of documents, which have been seen by Reuters, have been submitted to a government panel which is tasked with formulating policy for the finance ministry to consider. SEBI's stance has not previously been reported.
'Tariff repair': Bharti Airtel may want to charge more from users to improve return ratios
During a conference call, Bharti Airtel emphasized the necessity for tariff adjustments to enhance return ratios like Return on Capital Employed (RoCE). With the highest average revenue per user (ARPU) increase in the industry at Rs 16 in FY24, Airtel reported an ARPU rise to Rs 209 in Q4, with a notable 8% hike.
Dollar drifts as traders eye US inflation data; frail yen in focus
The currency market has been sedate this week, with investors seeking to gauge what the path the Federal Reserve will take this year in the wake of recent softer-than-expected U.S. labour market data and comments from central bankers.
Best Meme Tokens to Invest In May 2024
As the meme coin landscape matures, certain projects stand out. Here are the top 10 meme tokens that exhibit strong growth signals fueled by dedicated communities, real-world use cases, and evolving technologies.
Robinhood Crypto gets Wells notice from US SEC
The company said it received a so-called "Wells notice," which the SEC issues when it is planning to bring enforcement action against them. Such notices do not necessarily mean the company has engaged in wrongdoing.
RBI working on off-line mode to boost retail CBDC volumes: Guv Shaktikanta Das
The Reserve Bank of India (RBI) is working to increase the acceptance of the Central Bank Digital Currency (CBDC) for retail transactions, despite the high number of transactions reaching 1 million per day. The RBI is focusing on making the digital currency transferable offline, introducing programmability features, and promoting financial inclusion. The central bank is also addressing concerns about the CBDC's potential to pose a risk to banks' business models.
Nepal to introduce new Rs 100 currency note featuring disputed territories with India
"The meeting of the council of ministers chaired by Prime Minister Pushpakamal Dahal 'Prachanda' took a decision to print the new map of Nepal, which includes the Lipulekh, Limpiyadhura and Kalapani in the Rs 100 denomination bank notes," government spokesperson Rekha Sharma told media persons while briefing about the cabinet decision.
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