Author: Daniel Chang
Daniel Chang
Daniel Chang's passion for finance and technology has driven his career in the financial markets. With a background in both quantitative analysis and market strategy, Daniel excels at breaking down complex market movements into actionable insights. He has worked with leading financial institutions and trading platforms, where he has contributed to the development of innovative trading tools and educational content.
Asian currencies gained strength on Tuesday, with the Japanese yen nearing a 2024 high as the U.S. dollar weakened due to growing expectations of a significant interest rate cut by the Federal Reserve later this week. Trading in the region was relatively quiet, with market holidays in China and South Korea reducing volumes. Investors are also awaiting the outcome of the Federal Reserve’s decision on Wednesday, which kept many traders cautious. Dollar Slips as Focus Shifts to Possible 50 Basis Points Cut The U.S. dollar index and dollar index futures dropped by around 0.1% during Asian trading hours, extending their…
MC Markets, a leading online brokerage, will be a key participant at iFX EXPO Asia 2024, where it will highlight its advanced B2B trading solutions. As an Elite Sponsor, MC Markets is set to stand out at this premier Southeast Asian event, underscoring its commitment to expanding in the region and providing top-notch services to institutional and professional traders. Taking place at the Centara Grand & Bangkok Convention Centre in CentralWorld, Bangkok, from September 16-18, 2024, iFX EXPO Asia will host thousands of industry leaders, including C-level executives, brokers, fintech innovators, and affiliates, making it one of the region’s most…
In the wake of a potential security breach involving Indodax, a major crypto exchange, co-founder William Sutanto has issued a public apology. A user has claimed to have lost approximately IDR 956 million due to the incident. The initial alert regarding the suspicious activity came from Cyvers Alerts, which posted about it on their X account on the early morning of September 11, 2024. Cyvers detected unusual transactions involving Indodax’s crypto wallet across multiple blockchains. “Warning to Indodax: Our system has detected suspicious transactions involving your wallet across various networks. These addresses currently hold approximately $14.4 million in crypto and…
Adobe (NASDAQ) is set to launch a new generative AI-powered tool for video creation and editing later this year, marking a significant expansion of its offerings for creative professionals. The company announced on Wednesday that the tool, called Adobe Firefly Video Model, will be available in a limited beta release. The new tool will complement Adobe’s existing Firefly suite, which already enables users to generate still images, designs, and vector graphics using AI. With the Firefly Video Model, Adobe is entering the competitive market for AI-driven video generation, which includes other notable players such as OpenAI’s Sora and Stability AI’s…
Oracle Corporation (NYSE) saw its shares soar in after-hours trading on Thursday, reaching record levels as the company highlighted promising revenue growth tied to increasing demand for artificial intelligence (AI). The stock jumped by 6.4%, hitting an all-time high of $171.51. This surge follows strong quarterly earnings released earlier in the week and a recent agreement with Amazon (NASDAQ) Web Services. The company raised its fiscal 2026 revenue forecast to $66 billion, up from a previous estimate of $65 billion, exceeding Bloomberg’s projections of $64.5 billion. Oracle also projects its annual revenue to surpass $104 billion by fiscal 2029. Oracle’s…
On Monday, Microsoft revealed that its board has greenlit a significant share buyback initiative valued at up to $60 billion. Alongside this, the company announced an increase in its quarterly dividend. Microsoft Corporation (NASDAQ: MSFT) raised its dividend to $0.83 per share, reflecting a 10% rise compared to the previous quarter. In after-hours trading, shares of the Washington-based tech giant saw a 0.6% uptick. Despite reporting robust earnings in July, Microsoft is ramping up its capital spending, particularly in artificial intelligence. While revenue from its Azure cloud services — which includes AI-related returns — slowed in the recent quarter, the…
In a campaign promise made on Thursday, Republican presidential candidate Donald Trump vowed to eliminate taxes on overtime pay as part of a broader tax reform package if he wins the November 5 election. “We will end all taxes on overtime as part of our additional tax cuts,” Trump announced during a rally in Tucson, Arizona. “Your overtime hours will be tax-free.” Trump, who is facing Democratic Vice President Kamala Harris in a closely contested race, has previously proposed cutting taxes on tips to help service industry workers. Harris has made similar commitments regarding tax relief for workers. A spokesperson…
On Monday, Meta, the parent company of Facebook, announced a global ban on several Russian state-run media outlets, including RT and Rossiya Segodnya. The company cited concerns about deceptive practices aimed at covertly influencing online discourse as the reason for the decision. In a statement, Meta explained, “After careful review, we have expanded our restrictions on Russian state media entities, including RT and Rossiya Segodnya, to prevent foreign interference activities on our platforms.” The ban, which will take effect over the next few days, extends across all of Meta’s major platforms, including Instagram, WhatsApp, and Threads. The Russian embassy did…
TOKYO (Reuters) – The Japanese yen, a traditional safe-haven currency, gained strength on Wednesday, while riskier currencies such as the Australian dollar and the British pound struggled as investors sought refuge following a significant downturn on Wall Street, the worst in nearly a month. The trigger for this market anxiety was weak U.S. manufacturing data, which raised fears of a potential economic slowdown in the world’s largest economy. This comes as traders are already on edge ahead of the critical monthly U.S. payrolls report due on Friday. “Global markets are showing signs of a growing fear of an economic downturn,”…
Oil prices remained relatively stable in early trading on Thursday following a sharp drop the previous night. Traders are balancing concerns over sluggish demand with the potential for a delay in new oil supplies scheduled for next month. As of 0002 GMT, November Brent crude futures inched up by 9 cents, or 0.12%, to $72.79, recovering from a 1.42% decline during Wednesday’s session. Meanwhile, U.S. West Texas Intermediate (WTI) crude for October saw a 12-cent increase, or 0.17%, to $69.32 after sliding 1.62% the day before. Both benchmarks closed $1 lower at the end of Wednesday’s trading. OPEC+ is reportedly…