Are continuous inkjet inks suitable for printing on and subsequently sterilizing recyclable food packaging? Specialists from both companies investigated this very question at SÜDPACK’s technical center.

In this insightful article, Beth Zipko of Source Wurx makes the case that no element of private label products has improved more rapidly and dramatically than packaging, which has evolved from eyeroll-inducing to eye-catching. 

MCS Inc. President David Loos says high-speed inkjet printers eliminate the need for adhesive labels by printing tracking codes, special offers and other promotional messages directly on secondary packaging.

Members of the United States House of Representatives are listed here in alphabetical order. Each entry includes life dates if known, a member's area of residence when first elected, period of service, and party affiliation when known. Before 1795 and again from the 1810s into the 1830s there were no well-organized political parties or parties were in flux, and for those time periods no affiliation is listed. Between 1795 and the 1810s most members are identified as Federalists or as Democratic-Republicans. The eight men who were elected to the House of Representatives in 1865 but not seated are also included in this list. John Mercer Langston, elected in 1890, was the first African American elected to Congress from Virginia. Leslie Larkin Byrne, elected in 1992, was the first woman elected to Congress from Virginia.
Mon, 04 Jan 2021 09:26:01 EST

The Virginia State Corporation Commission was created by the Constitution of 1902. Its responsibilities include issuing charters of incorporation, policing financial industries such as banking and insurance, regulating rates that common carriers charge for freight and passengers, and enforcing the laws that govern rates charged by such public utilities as electric and telephone companies. Because the commission promulgates regulations, operates regulatory agencies, and hears appeals on some kinds of administrative matters, it exercises legislative, executive, and judicial functions and has sometimes been referred to as the fourth branch of state government. The commission consists of three members who serve six-year terms, one term expiring every second year. The governor appointed members from to 1903 to 1919; voters elected members from 1919 to 1928; and the General Assembly named members after 1928. If a vacancy occurs when the assembly is not in session, the governor appoints a new member. The first commissioners took office on March 1, 1903.
Wed, 13 Jan 2021 11:26:11 EST

From Campus to Career: The Critical Importance of Experiential Learning in Workforce Preparation jhammond@desti… Tue, 09/24/2024 - 16:52

Justin had the news from the People's Bank of China here:

• PBOC governor will maintain yuan exchange rate at a reasonable, balanced level

PBOC governor Pan Gongsheng emphasized the Bank will not let the yuan plummet without a fight:

• Will step up countercyclical adjustment
• Should resolutely guard against the risk of exchange rate overshoot

With the surging USD after Trump's win the yuan is just one of many weaker currencies:

0900 GMT / 0400 US Eastern time: Olli Rehn, Governor of the Bank of Finland, and Bank of England Chief Economist Huw Pill speak on a panel at a conference organised by UBS in London

As Governor of the Bank of Finland Rehn is a member of the European Central Bank monetary policy board, the Governing Council.

Thus we'll get policy/economy comments relevant for the ECB and BoE for this one.

Heads up for a barrage of Fed speakers due Tuesday 12 November 2024:

10:00 AM ET / 1500 GMT

• Fed's Waller (Governor, Voter) speech (the topic is 'payments')

10:15 AM ET / 1515 GMT

• Fed's Barkin (Richmond Fed President, non-voter) speech

2:00 PM ET / 1900 GMT

• Fed's Kashkari (Minneapolis Fed President, non-voter)

5:00 PM ET / 2200 GMT

• Fed's Harker (Philadelphia Fed President, non-voter) speech

5:30 PM ET / 2230 GMT

• Fed's Barkin (Richmond Fed President, non-voter) speaks again

• The pace of the moves depends on the data
• We are data dependent but not data point dependent
• Growth outlook has deteriorated due to manufacturing sector
• If disinflation stays on track, it would make a case for further rate cuts
• We could be leaving restrictive territory in the spring of 2025
• The last thing we need now is yet another trade war
• Tariffs impact will be medium-to-long term
• Protectionism by definition is inflationary

The remarks are as you would expect from the ECB at this current stage. But they are already starting to recognise the potential impact of Trump tariffs and that's a warning signal to the outlook for next year I guess.

Richmond Fed Pres. parking is speaking and says:

• Fed is in position to respond appropriately regardless of how economy involves.
• US economy looks pretty good
• Labor market is resilient.
• From here, labor market mighty be fine or may continue to weaken.
• Inflation might be coming under control or might risk getting stuck above Fed 2% target.
• Feds focus may turn to upside inflation risks or to downside employment risks, depending on how economy develops.

The market is pricing a 65% chance of a 25 basis point cut in December. That is down over the last week or so (it was in the high 70%s last week).

US yields are higher but off their highest levels:

• 2-year 4.314%, +6.1 basis points
• 5-year 4.269%, +7.6 basis points
• 10-year 4.370%, +6.3 basis points
• 30 year 4.516%, +3.7 basis points

The election is going to dominate early November trading so making moves based on seasonals is unwise. That said, it's useful to keep them in mind as the dust settles.

• November is the best month for USD/JPY
• Best month for the Nasdaq
• Third-best month for the US dollar
• The November through February is strong for gold
• Second-best month for the S&P 500
• Second-best month for the MSCI world index
• Second-best month for the German DAX
• Best month for the Nikkei 225
• The final month of the seasonal slump for oil. Seasonals neutral in Dec-Jan then strongly positve from Feb-June

Going into last November, the S&P 500 had declined for three straight months but that month marked a turning point as it recouped nearly all the gains in what was the beginning of a five-month rally. This time, we're coming into the month with better momentum, though October was negative for stocks.

The USDCHF has moved higher in trading today and in the process moved above the swing highs from last week and swing area between 0.8772 to 0.8776. That area is now a close risk and bias-defining level. Staying above is more bullish.

The move above that area today has led to an increase in momentum with the price moving to and through the 50% midpoint of the move down from the Mqy 1 high. That level comes in at 0.87986 (near natural resistance at 0.8800).

The price is in trading above and below that level the last four or so hours of trading with a high price of 0.8804. Also in play on the topside is its 200-day moving average at 0.8817 and a swing area from 0.88187 to 0.88251. Get above those levels would open the door for more upside momentum.

So buyers and sellers are battling it out near the 50% midpoint and below the 200-day moving average. That is natural estranged can defined and limited risk against the technical levels. However, the price were to move above the 200-day moving average, the seller leaning now, should look to cover and push the price higher.

---------------------------------

USDCHF Summary

The USDCHF continues its upward trend, testing the 50% target level at 0.87986.

Key Levels:

Resistance

• 0.8817 (200-day MA)

• 0.88187-0.8825 (swing area)

Support

• 0.8772-0.87763 (last week's highs)

Outlook:

• Breaking above 0.88187-0.8825 opens door for more upside momentum.

• Moving below 0.8772-0.87763 gives sellers short-term advantage.

• Absent a breakdown, buyers remain in control, targeting new highs since July 31.

More records are reached today:

• Dow industrial average closes over 44,000 for the first time ever
• S&P index closes above the 6000 level the first time ever
• NASDAQ index closes at a new record level as well

For the Russell 2000 it lasts record close was back on November 8, 2021 at 2442.21. The index closed at 2434.97 after reaching an intraday high of 2441.72 just short of the record closing level.

The final numbers are showing:

• Dow industrial average +304.14 points or 0.69% at 44293.13
• S&P index up 5.81 points or 0.10% at 6001.35
• NASDAQ index is up 11.99 points or 0.06% at 19298.76
• Russell 2000 up 35.33 points or 1.47% at 2434.97

For the Russell 2000, its high intraday level reached 2458.85 on November 10, 2021. For the year, the Russell 2000 is now up 20.12%. That has now surpassed a down industrial average gain of 17.52%.

The S&P index is now up 25.82% in 2024 while the NASDAQ index is up 28.56%.

Fundamental Overview

Bitcoin is now up almost 30% since the election day as the bullish momentum in the cryptocurrency exploded following Trump’s victory. This shouldn’t be surprising given that Trump vowed to make the US the crypto capital of the planet.

Moreover, it looks like the US economy continues not only to do well but also re-accelerating amid the Fed’s easing and the expectations of expansionary fiscal policies like tax cuts and deregulation.

Bitcoin, alongside Dogecoin and stocks like Tesla and Coinbase, have been the top beneficiaries of Trump’s victory given their direct connection to Trump. For now, there’s no real top in sight as we would likely need a contractionary monetary policy or a notable slowdown in the economy.

The risk going forward is the Fed. If the central bank starts to mention the need of more tightening, then we could see some big corrections in all risk assets. That day though looks to be at least a couple of months away for now.

Bitcoin Technical Analysis – Daily Timeframe

On the daily chart, we can see that Bitcoin is now trading near the 90K level. The 100K level is the natural target, something that has been talked about a lot. That doesn’t mean it cannot go any higher than that though. For now, it’s a momentum play and despite the obvious nervousness one can get seeing the euphoria in the air, there’s no negative catalyst in sight that could reverse the trend.

Bitcoin Technical Analysis – 4 hour Timeframe

On the 4 hour chart, we can see that we have an upward trendline defining the current bullish momentum. That’s now far away from the current price and it’s unlikely that we will see a pullback into it in the near term unless we get a very hot US CPI report tomorrow.

If we do get there though, the buyers will likely lean on it to position for a rally into new highs, while the sellers will look for a break lower to increase the bearish bets into the next major trendline around the 75K level.

Bitcoin Technical Analysis – 1 hour Timeframe

On the 1 hour chart, we can see that we have another minor upward trendline defining the bullish momentum on this timeframe. The buyers will likely keep on leaning on it to position for further upside, while the sellers will look for a break lower to increase the bearish bets into the next trendline.

More aggressive buyers, might pile in already on the break of the recent high around the 90K level targeting the 100K level. The red lines define the average daily range for today.

Upcoming Catalysts

This week is a bit empty on the data front with the most important releases scheduled for the latter part of the week. Tomorrow, we have the US CPI report. On Thursday, we get the latest US Jobless Claims figures. On Friday, we conclude the week with the US Retail Sales data.

The AUDUSD has moved lower to a swing area low at 0.65357. The high of the swing area comes in at 0.65537. It would take a move above that level and then the 61.8% at 0.6575, to give the buyers more confidence and cause the sellers to have some cause for pause.

ON the downside, a break of 0.6535 would target the low from last weekend 0.6511. That is near the last two session lows going back to early August. oh below that level and traders look toward 0.6463 to 0.6486.

The price action last week in the AUDUSD was up and down with big moves in either direction.Through the first two days of this week, volatility is less, but the bias is more to the downside. That bias would be even more bearish if the 0.6535 level can be broken along with the low price from last week at 0.6511.

------------------------------------

AUD/USD Summary

The AUD/USD fell to a swing area low at 0.65357.

Key Points:

1. Swing area: 0.65357 (low) - 0.65537 (high).

2. Buyers need a break above 0.65537 and 0.6575 (61.8% level).

3. Sellers target last weekend's low: 0.6511.

Outlook:

Bullish Scenario

Move above 0.65537 and 0.6575 boosts buyer confidence.

Bearish Scenario

Break below 0.6535 and 0.6511 confirms bearish bias, targeting 0.6463-0.6486.

Levels to Watch:

• Resistance: 0.65537, 0.6575

• Support: 0.65357, 0.6511, 0.6463-0.6486

BofA suggests staying short on CHF, particularly against USD and GBP, as post-election volatility subsides and G10 rate repricing supports a weaker CHF. While political risks may pose a minor obstacle, BofA sees CHF depreciation as likely due to policy divergence, with recent fiscal stimulus in the UK reinforcing the case for long GBP/CHF.

Key Points:

• CHF Weakness Expected: Following the US election, BofA expects normalization in volatility and G10 rate adjustments, which support a weaker CHF heading into year-end.

• Policy Divergence and SNB Cuts: CHF depreciation has been driven by Swiss policy moves, including an SNB rate cut, and ongoing yield compression. Increased Swiss inflation has also pressured CHF.

• Positioning in USD/CHF and GBP/CHF: BofA favors short CHF positions in USD/CHF and recently opened a long GBP/CHF position via a three-month ratio call spread, driven by UK fiscal stimulus enhancing policy divergence.

• Risk Management Considerations: While CHF shorts are promising, BofA advises a cautious approach due to potential political uncertainties that could affect CHF.

Conclusion:

BofA recommends holding short CHF positions in USD/CHF and GBP/CHF, as volatility recedes and policy divergence favors a weaker CHF. Though political noise may cause short-term volatility, BofA sees CHF depreciation persisting into year-end, with UK fiscal moves strengthening the case for GBP/CHF.

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Legend of Arcadia (LoA), a new card-based RPG set in an expansive universe inspired by Kingdom Hearts, is bringing a community-driven operational model to Web3 gaming. With a focus on sustainable growth, LoA aims to establish itself as a leading platform by integrating blockchain technology, unique NFT mechanics, and community-centric features that foster long-term player engagement.

As the Web3 gaming industry is forecasted to grow to $305 billion by 2030, LoA stands out by addressing key sustainability issues that have previously limited the success of Web3 gaming ventures. Many blockchain-based games have struggled with player retention and engagement, often due to unsustainable reward systems. LoA’s approach, built on years of gaming experience from its team’s work with industry leaders like Tencent, Hero Entertainment, and Seasun Studios, centers on creating an inclusive, feedback-driven community.

Community-driven growth and operations

Legend of Arcadia (LoA), a card-based RPG game built on a vast story universe inspired by Kingdom Hearts, has a strong vision for reimagining live operations in Web3, called community-driven operations. The formula combines building a sticky and vocal community driven by a strong feedback loop and nimble implementation of the ideas. This has helped LoA stand out from others.

The team has spent the past two years perfecting the formula based on their decade-long experience in driving high DAU and retention at leading game companies such as Tencent, Hero Entertainment, and Seasun Studios. At the same time, building a 60k+ strong community with users that actively interact with the team and provide them with feedback.

The right feedback loop between the community and the developer has led to innovative tactics for driving community engagement.

For example, rather than hosting traditional alpha tests, the team mixed the idea of esports and competition and invited people to form their own teams to compete during the test. This led to a brand-new Guild called Alter Ego Guild being formed in the community, and they remain some of the game’s biggest supporters, helping new players onboard and get deep into LoA.

During its three-month campaign, LoA had 100,000+ registered users with minimal marketing spend. It also has very high next-day and 7-day retention of 75% and 56%, respectively, higher than many traditional games' 50% and 20%. As it moves towards its TGE and official game launch, the community continues to provide feedback and support the team.

With backing from 10+ investors, including Animoca Brands and OKX Ventures, LoA can further develop the game's vastness, ensuring the community is constantly engaged with new content and utilities of its native token, $ARCA. This ranges from the endless possibilities of different NFT heroes to the countless actions and ways to earn $ARCA tokens.

Innovative NFT Mechanics and Extensive Gameplay

In LoA, each NFT hero is unique, with randomized genetic traits such as appearance and abilities drawn from a large gene pool of over five trillion combinations, including over 48 types of basic attributes, 40,000+ skill combinations, and more than 28 million gene combinations. This ensures that no two NFT heroes are the same.

The game team, supported by AI, has also created countless words and storylines, shaping different toy characters and enriching the stories of LoA. It also enhances player retention by implementing seasonal demands created by the in-game mechanics, which will eventually boost the trading volume.

$ARCA Token Distribution and Roadmap

In LoA, players can earn tokens through a variety of activities and strategies involving their NFT heroes. Inspired by a system commonly used in web2 games, by combining White Ores from mining with Black Ores earned in battles, they can produce $ARCA tokens. Heroes can also be customized through special events and features, which not only alter their appearance but can also provide gameplay advantages, such as enhanced mining power when using event-specific skins.

Players can also participate in PvE content by clearing dungeons and defeating bosses for valuable loot or diving into PvP battles to compete against others for rewards and climb seasonal leaderboards for even greater gains. To further boost their earnings, players can stake $ARCA tokens, unlocking additional rewards like free NFTs or a share of profits from NFT sales, adding another layer of value to their in-game investments.

In addition to earning tokens through in-game monetization, LoA further enhances sustainability by distinguishing between in-game and external economic factors. This structure allows players to monetize external elements, such as staking $ARCA tokens for special privileges and rewards or sharing in proceeds from NFT assets. This approach aims to foster long-term value creation over short-term speculative gains.

LoA will have a total supply of 40,000,000 $ARCA tokens that are distributed among seven pools where each pool will be further subdivided into different rank tiers based on the amount of Gacha Points earned.

With countless opportunities and activities in the world of LoA, the game constantly rejuvenates the excitement of its community and players, which will ensure its sustainability in the long run. The game also has plans for extensive single-player content (PVE mode) and multiplayer modes where players can form teams and challenge others in real-time battles. Legend of Arcadia is currently set to launch in November 2024.

About Legend of Arcadia

Legend of Arcadia (LOA) (https://legendofarcadia.io/) is a card-based RPG game built on a vast story universe inspired by Kingdom Hearts. LOA is built with the latest technology for the modern gamer, powered by blockchain. Players can enjoy the game for free, on the go, on a mobile device, and socialize in real-time with gamers from across the globe through immersive PvP game modes and by trading highly composable NFTs.

The U.S. presidential election draws near, and investors are on high alert as the outcomes of Kamala Harris's and Donald Trump's contrasting economic policies could have significant ramifications for the financial markets. With key decisions looming around tax rates, regulation, energy policy, and trade, the potential for market volatility increases depending on who gets into the White House and what the new balance of power in the U.S. Congress will be. In this article, Octa Broker's financial analyst, Kar Yong Ang, breaks down the candidates' divergent economic visions and outlines possible scenarios for market reactions post-election, offering critical insights for traders to navigate the uncertain financial landscape ahead.

With less than a day to go until the U.S. presidential election, investors and traders are bracing for the potential impact on the financial markets. Although both candidates (Kamala Harris and Donald Trump) proclaim to pursue similar goals–––notably, creating jobs and boosting the U.S. manufacturing base–––they offer very different approaches to economic policy. Therefore, financial markets will almost certainly respond differently depending on who ultimately gets into the White House. Furthermore, it is important to factor in the possible changes in the arrangement of power on Capitol Hill, as 33 out of 100 senators and all 435 delegates in the House of Representatives will also seek re-election this November.

At Octa Broker, we decided to offer our view about what to expect from the upcoming elections and what could be the possible impact on the financial markets in general and on gold and the U.S. dollar in particular. Before we lay out the possible scenarios, let’s first briefly recap the economic policy visions of Vice President Kamala Harris, the Democratic Party candidate, and of former President Donald Trump, the Republican Party nominee, and underline their key differences. Please note that this article will focus specifically on the candidates' economic policies that are expected to have the most impact on the financial markets and affect an average trader. Thus, the general focus is on tax policy, regulation, energy policy, foreign policy, and tariffs. The article will not delve into the details of other policies, such as abortion rights, immigration, housing, and healthcare policy.

Table 1: Comparing the Candidates

‘When you wake up on 6 November to check the results of the U.S. presidential elections, there are two things to keep in mind’, argues Kar Yong Ang, a financial market analyst at Octa Broker. ‘Firstly, it is vital to realise just how decisive the victory of either of the candidates is. Secondly, it is very important to ascertain the new composition of the Legislative Branch'. Indeed, if either Harris or Trump wins the national popular vote with only a slim majority or the Electoral College produces mixed and uncertain results, the investors may get nervous, and market volatility will rise. ‘Contesting results are not good for the markets, as they may trigger disputes among the parties and delay important economic decisions in the best-case scenario and lead to social unrest and violence in the worst case’, Karr says.

The composition of the House and the Senate is equally important as they will largely determine the ultimate balance of power and the direction of the legislation. According to ABC News simulation, Republicans win control of the Senate 88 times out of 100[1], meaning that it is highly unlikely that the Democratic Party can manage to take out the upper chamber of the U.S. Congress. When it comes to the House of Representatives, however, the chances are 50/50. Thus, it seems reasonable to infer that only four potential scenarios exist in this election (see the table below).

Table 2: Possible Scenarios and the Dollar Impact

Scenarios 1 and 2

Scenarios 1 and 2 assume that Kamala Harris becomes the next President of the United States, but her executive power is severely or partly limited. In case Republicans capture both the House and the Senate, Harris's policy initiatives will be blocked or substantially amended. On balance, a Harris presidency facing a hostile Congress would bring about a politically unstable and unpredictable environment, which investors despise. As a result, the economy will underperform, stocks will decline, and the dollar will weaken.

‘A government paralysed by dysfunction and gridlock is the worst-case scenario for the U.S. economy in general and for the U.S. dollar in particular’, says Kar Yong Ang, a financial market analyst at Octa Broker. ‘The probability of a protracted government shutdown is very high under this scenario. U.S. stock market indices will certainly take a hit’.

Indeed, Harris's progressive initiatives on climate and the environment will be blocked, while fiscal and economic policy will become a key point of contention, leading to a major standoff over the budget. At the same time, Harris's presidency might result in less government spending, which will have a disinflationary impact, enabling the Federal Reserve (Fed) to continue reducing interest rates. That, too, however, will have a long-term bearish impact on the U.S. dollar.

In turn, the greenback's weakness may have a bullish impact on commodities, especially gold, as it will become more affordable for holders of other currencies. Another bullish factor for commodities in general and for gold, in particular, is that the conflict in Eastern Europe will likely drag on under Harris, given that she has been more in favour of supplying the weapons rather than pushing for a peace deal.

‘All in all, I think Harris's presidency will be met with a bearish reaction in U.S. equity markets–––especially in the energy sector. Companies focusing on renewables may perform better but still suffer in the long term as Harris will struggle to push her environmental agenda. The U.S. dollar will almost certainly sell off, while the euro and Chinese yuan will strengthen’, concludes Kar Yong Ang.

Scenarios 3 and 4

Scenarios 3 and 4 assume that Donald Trump becomes the next President of the United States, but his executive power will either be partly limited by the Democratic House or, alternatively, he manages to achieve a sweeping victory with the Republican Party taking full control over both chambers of Congress. In this case, investors will likely cheer (at least in the short term), as Trump promises to cut red tape and reduce taxes. Stock indices will rally, and the dollar may strengthen. Still, there will be long-term risks associated with Trump’s trade policy.

‘The fears over U.S. debt sustainability will certainly rise under Trump’, says Kar Yong Ang, a financial market analyst at Octa Broker. ‘He will extend as well as enlarge the tax cuts, essentially bringing about a loose fiscal policy, which, in turn, will force the Fed to be hawkish’. Indeed, a Republican sweep victory is the most bullish scenario for the greenback in the midterm. Inflationary tax cuts will boost the economy and may potentially force the Fed to stop its rate-cutting campaign, which will support the U.S. dollar vs other currencies. However, the U.S.'s gigantic deficit will likely keep expanding. Reuters estimates that Donald Trump’s tax cut plans would add some $3.6 trillion to $6.6 trillion to federal deficits over a decade.

On the one hand, tax cuts may serve as a catalyst for U.S. economic growth, which should support oil prices, especially given that Trump is likely to enforce stricter sanctions against Iran. On the other hand, U.S. crude oil and natural gas output may rise as the Trump administration will likely support the companies engaged in fossil fuel production.

Trade policy is not expected to be Trump’s top priority, but he may still introduce new tariffs in 2025-2026. First and foremost, this will negatively affect China and its currency, the yuan. At the same time, Trump’s victory will be a major bullish factor for the crypto industry in general and for digital currencies in particular. He made no secret of his support for crypto and even advocated for the establishment of a national Bitcoin reserve.

‘All in all, I think Trump’s presidency will be met with a bullish reaction in U.S. equity markets–––especially in the energy sector, and especially in case of a sweeping victory. Companies with a focus on renewables will underperform, bitcoin will rally, while the euro and the Chinese yuan will fall. However, the market has already partly priced in Trump’s victory. Therefore, in a classic ‘buy the rumour, sell the news’ scenario, the asset prices I just mentioned may actually drop immediately after the election, but will likely remain supported in 2025’, concludes Kar Yong Ang.

About Octa

Octa is an international broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and a variety of services used by clients from 180 countries who have opened more than 52 million trading accounts. To help its clients reach their investment goals, Octa offers free educational webinars, articles, and analytical tools.

The company is involved in a comprehensive network of charitable and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities.

Since its foundation, Octa has won more than 70 awards, including the ‘Best Forex Broker 2023’ award from AllForexRating and the ‘Best Mobile Trading Platform 2024’ award from Global Brand Magazine.

Last week, the tech giants — Apple, Amazon, Alphabet, Microsoft, and Meta — released their quarterly reports, which showed steady revenue and profit growth across the board, pretty much in line with previous ones.

However, except for the results of Jeff Bezos’ company and Amazon stock, the investors were not “fully satisfied.” Mixed forecasts for the next quarter and expected spending were of concern, especially in AI.

Although companies are confident in AI's enormous potential, developing and building the infrastructure to support it is proving costly, and results continue to fall short of expectations.

Right now, the biggest beneficiaries of the AI boom are similar to those in the gold rush — the ones supplying the tools. In today’s terms, that means essential hardware and cloud service providers.

For example, Microsoft Cloud quarterly revenue grew 22% year-over-year to $38.9 billion, with Azure and other cloud services experiencing a 33% increase, about 12% of which was driven by AI services.

Amazon's AWS, in turn, generated $27.4 billion in Q3. Although slightly below expectations, growth in this segment remains strong at 19% (up from 12% last year), underscoring the growing demand for it.

Chipmakers, which drive these AI advances, are also experiencing huge gains. Leading the way is Nvidia, which recently surpassed Apple in market capitalization to become the world's most valuable company.

Taiwan's TSMC, a major chip supplier to giants such as Nvidia, Apple, and AMD, is also thriving. TSMC's technology powers leading-edge products in smartphones and advanced computing systems.

TSMC's third-quarter revenue rose 36% to $23.5 billion, while net profit soared 54.2% to $10.1 billion. Revenue from high-performance computing chips now accounts for 16% of the company's profit.

Who else benefits from the AI boom?

The list is not short: data centers, telcos, and networking companies are all reaping benefits, as are mining companies, driven by increased demand for metals and materials for chips and electronics.

Another big beneficiary could be the energy sector. Following the rise of AI tools such as ChatGPT, the UAE's Minister of Industry and Advanced Technology noted that global energy demand is expected to double.

Apparently, a single ChatGPT query requires ten times more energy than a Google search. As AI usage increases, so will the need for more data centers that do not run on air.

The minister expects a seven-fold increase in the use of solar and wind power, at least a 65% increase in demand for LNG, and a continued reliance on oil for fuel and other products.

Since its founding in 2004, Dukascopy has grown into a trusted, innovative leader in the fintech and online trading space, providing clients with advanced tools and a stable platform for smart financial decisions.

Over the past 20 years, Dukascopy has reached major milestones that reflect its core values of stability, innovation, and putting clients first. From its proprietary JForex platform to the popular MT4 and MT5, Dukascopy offers a variety of trading platforms along with modern neo-banking services for both individuals, businesses, and institutions. The bank has also led the way in technology upgrades with White Label and banking-as-a-platform solutions.

As Dr.Andre Duka, Dukascopy’s founder, says, "Innovation has always been at the heart of what we do. We aim to continue delivering these high standards into the future. Thank you, our clients, for choosing us for these 20 years."

Currently, Dukascopy (https://dukascopy.click/agw) proudly serves over 400,000 clients across both trading and banking services. This commitment to delivering cutting-edge solutions, backed by Swiss-grade stability, has allowed the company to maintain long-term relationships with clients, many of whom have been trading and banking with Dukascopy for decades.

As the company looks toward the future, Dukascopy remains focused on empowering traders and banking clients, expecting significant growth of its client base across all segments, from trading to neo-banking, corporate to white-label services.

Cryptocurrency payments have made financial transactions faster and safer. Forex brokers that integrate a cryptocurrency payment gateway can provide these advantages and more for their users. Crypto payment integration results in real-time transaction settlement, lower fees, and improved fraud prevention. These benefits increase forex brokers' operational efficiency, help them attract a global clientele, and remove geographical barriers. To grow and scale as a broker in this dynamic era, blockchain technology must be applied strategically to increase a business’s competitive edge, and drive scalability. Discover how accepting crypto payments can improve your forex brokerage business in this article.

Increased Global Reach

Forex brokers can expand their global reach by integrating a cryptocurrency payment gateway. Research by Oxprocessing and B2Broker shows that forex brokers saw a 20-30% increase in their client base when they started accepting cryptocurrency payments.

The rising forex broker client base after crypto adoption stems from the popularity and user realization of the benefits of crypto like real-time transaction settlement, unlike banks. The lower fees, flexibility, and additional security also attract many users as we shall see subsequently.

Accepting crypto through payment gateway solutions like Onchainpay.io connects a forex broker and its customers with the innovation and flexibility offered by decentralized finance. Crypto payment gateway integration is crucial in expanding and getting a bigger global customer market share.

Improved User Security

Integrating a proven and transparent cryptocurrency payment gateway like Onchainpay.io which uses two-factor authentication, permissioned API access, and real blockchain addresses to secure user funds offers all the advantages.

Advanced encryption and decentralized verification through blockchain technology ensure secure transactions and minimize fraud. No one can alter blockchain transactions as they are recorded on a public ledger that is almost impossible to counterfeit.

Transactions are traceable and secure onchain, increasing user confidence in the forex brokers who adopt crypto payments. With crypto payment, transactions occur in simple sends or receives between wallet addresses without intermediaries that can delay the process. By adopting crypto payment forex brokers can establish user trust and stand out from the competition.

Transaction Speed and Overall Efficiency

Real-time payment settlement is a game changer for forex brokers. Payment gateway comparison experts Crypto Payment Gateways note that while the average traditional payment processing time takes 7-14 days, cryptocurrency payments settle in a few seconds to a few minutes.

Crypto payments increase speed, boost operational efficiency, and drive forex broker customer satisfaction by providing quick access to funds. Lower transaction fees from crypto payment integration lead to massive cost savings. Forex brokers can operate more efficiently, save customer time, and remain at the forefront of innovation by integrating state-of-the-art crypto payment processing solutions like Onchainpay.io.

Affordable Fees

Analysis from Blockdata shows that cryptocurrency payments can cut transaction costs by 70% compared to traditional methods. Paying with known methods like credit cards often incurs 1.5% to 3.5% in transaction fees. Cryptocurrency transactions using payment methods like Bitcoin cost about 0.01%-1%.

Reduced transaction cost presents a business advantage for brokers who can also attract customers seeking affordable trading options. With blockchain technology forex brokers can offer real-time and competitive transaction costs as a strategic move to increase overall user experience.

Seamless Cross-Border Payment Processing

Decentralized finance offers direct and seamless cross-border payment settlement with lower fees and zero delays. Through digital currency payment integration, forex brokers can attract a global user base interested in innovation and opportunities in decentralized finance. Crypto payment integration makes cross-border transactions more efficient with no intermediary and additional security. With it, forex brokers can enjoy frictionless cross-border payment processing and devote more time to expanding other aspects of their business.

Easy Scalability

From declined card transactions to restricted regions, the limitations of traditional payment systems impact forex brokers’ ability to scale. Brokers can tap into the global market and attract clients across the globe by adopting crypto payment solutions. The flexibility of crypto integration also helps brokers build adaptable business models and solutions that serve their client base perfectly. These benefits coupled with cost savings and instant settlement mentioned before improve brokerage efficiency and user satisfaction helping forex brokers grow their business beyond expectations.

User Satisfaction and Competitive Edge

Crypto Wallet

Self-custody wallets are a huge advantage for crypto users. Imagine the ability to own and control 100% of your assets. Crypto wallets make this possible and withdrawing forex profit into self-custodial crypto wallets is a dream for most participants in the financial market today. Crypto wallets are a convenient option that improves customer satisfaction. Hence brokers who accept crypto win more customers and stand out from the crowd of available options.

Crypto Adoption

Through crypto payment and transaction settlement integration, forex brokers can get along with the current trend and preference for digital assets. A report released by Fxleaders notes that traders and investors are ahead of the pack in the rapid race toward cryptocurrency adoption which has already attracted over 300 million users globally.

Profit Withdrawal and Deposit

The last thing traders want after the close shave of almost getting drowned due to market volatility is waiting forever to withdraw. Instant settlement cryptocurrency payment gateways like Onchainpay.io provide an excellent payment processing solution for instant deposits and withdrawals. With real-time secure payments on Onchainpay.io, users enjoy a better experience while the forex broker competes favorably among the available alternatives.

Smart Contracts

Smart contracts are self-executing codes on the blockchain designed to streamline user experience. They ensure secure transactions as they cannot be altered once deployed, and are transparently verifiable onchain. Recurring payment solutions on Onchainpay.io, for example, are powered by a series of secure smart contracts and can also be helpful in automated withdrawals for trader’s discipline and plan.

Conclusion

Cryptocurrency payments save time lower cost and offer competitive advantages to forex brokers. It enables instant settlement of cross-border transactions and enhances user experience with a range of options such as self-custody which gives users complete control over their assets. Onchainpay.io’s cryptocurrency payment gateway and merchant solution are designed to help brokers provide secure, flexible, and reliable crypto withdrawals and deposit options for their customers. Onchainpay is simple to integrate and works perfectly with almost all known payment setups. With customizability, segregated payments, and automatic settlements Onchainpay.io is the best thing since sliced bread for forex broker payment.

Zircuit, the chain where innovation meets security, is thrilled to announce the success of its EIGEN Fairdrop initiative. With a first-of-its-kind distribution of 2% of ZRC tokens to eligible EIGEN holders, Zircuit has introduced a model of fairness and inclusivity in the Ethereum staking ecosystem, underscoring a commitment to decentralization and community empowerment.

The EIGEN Fairdrop, an industry first, provided equal shares to over 190,000 eligible EIGEN holders and moved away from traditional distribution models that often favor larger stakeholders. Within just the first week, over 51,000 users claimed their ZRC and this fair and community-first approach has garnered widespread appreciation across the crypto space.

The Fairdrop includes a wide range of contributors to the EigenLayer ecosystem, extending beyond EIGEN stakers to support Uniswap liquidity providers, EtherFi eEIGEN holders, and Renzo ezEIGEN holders.

Sreeram Kannan, Founder of EigenLayer, praised Zircuit’s approach, saying, “Thrilled to see Zircuit introducing the first Fairdrop for EIGEN holders with 2% of their ZRC tokens. This is an amazing community-first approach, embodying fairness in the EigenLayer ecosystem, with everyone receiving the same amount.”

The Fairdrop, an industry milestone, supports Zircuit’s vision of an inclusive Ethereum ecosystem and strengthens the EigenLayer network by recognizing all contributors. The initiative's snapshot, taken on October 8, 2024, at Ethereum Block #20919999, included wallets with a minimum of 3 EIGEN tokens while excluding core EigenLayer team members and investors, keeping the focus on the community.

Zircuit protects users from hacks through its built-in, automated AI techniques that guard against smart contract exploits and malicious actors. Bolstered by its strong security infrastructure, Zircuit is the central hub for restaked assets featuring unparalleled security and allowing users to potentially earn industry-leading yields natively. With $1.8 billion in Total Value Locked (TVL), Zircuit is the premier liquidity hub for restaked assets (ETH, BTC, LSTs, and LRTs) where users can receive stronger security guarantees and trust.

During Mainnet, users can bridge their assets and start staking to potentially earn rewards and airdrops from the Zircuit ecosystem at the Liquidity Hub.

About Zircuit

Zircuit (https://www.zircuit.com/) provides developers with advanced features and users with peace of mind. Built by a team of web3 security experts and PhDs, Zircuit merges high performance with unparalleled security, making it the safest choice for DeFi and staking

The MSTR chart is a perfect example of the importance of market timing. The MSTR stock did nothing for almost two decades! Imagine investing in it early and waiting 20 years to get a return.

If you want to have conviction in your ideas, you need to know what moves your stocks and position for that change. In the book “The New Market Wizards”, Stanley Druckenmiller said this in response to the question of how he evaluates stocks:

“When I first started out, I did very thorough papers covering every aspect of a stock or industry. Before I could make the presentation to the stock selection committee, I first had to submit the paper to the research director."

"I particularly remember the time I gave him my paper on the banking industry. I felt very proud of my work. However, he read through it and said, This is useless. What makes the stock go up and down? That comment acted as a spur."

"Thereafter, I focused my analysis on seeking to identify the factors that were strongly correlated to a stock's price movement as opposed to looking at all the fundamentals. Frankly, even today, many analysts still don't know what makes their particular stocks go up and down.”

His number one advice? Do not invest in the present. The present does not move stock prices. Change moves them.

MicroStrategy is basically a Bitcoin play, so you just need to know where Bitcoin is going to trade MSTR stock. No valuation analysis needed.

The catalyst for the latest rally? Trump's victory.

This is why waiting for the right catalysts is paramount. Not only does it tell you WHEN to trade, but it also gives you an IMMEDIATE feedback on whether you are right or wrong. That helps with knowing when to bet more and when to get out to keep your drawdown low.

Warped Games, an indie game studio consisting of web3 and veteran game developers who have a legacy in creating player-focused games like LEGO Universe, Jumpgate, and Dragons and Titans, is on a mission to onboard millions of players to expand the Warped Universe, an immersive blockchain-powered game where players’ actions and decisions shape the environment and influence each season’s direction. After extensive exploration, Warped Games selected Sui as the blockchain to support this ambitious vision, thanks to its player-friendly approach and innovations in the Move language.

The announcement of Warped Games becoming an official partner with Mysten Labs arrives at a pivotal moment for blockchain gaming. With games like "Off The Grid" making strides toward mainstream adoption, this new collaboration marks another significant step in expanding blockchain gaming’s reach to a wider audience.

James Wing, Head of AAA Gaming Partnerships for Mysten Labs, commented on the official partnership: "Warped Games embodies what is exciting about this industry - founders and products that are built with passion to boldly address the wants of modern gamers. We are tremendously excited to partner with our friends at Warped and aid them in their journey to pioneer a new age of games on Sui."

Warped Universe: Empowering Players

Player empowerment is at the core of Warped Universe’s design. Here, players will be able to engage in PvE action in single-player or co-op mode, with an innovative multi-genre design giving players the flexibility to choose between turn-based or real-time genres across both ground and space gameplay. Players will also get to choose missions that influence the broader “meta-game,” affecting the balance of light and gravity for all, leading to wild and chaotic scenarios as each season aims to build a unique solar system in the Universe. This level of control redefines what it means to participate in a player-driven virtual world.

Breaking Barriers to Blockchain Accessibility

One of the largest obstacles facing blockchain adoption today is its intimidating complexity for newcomers. Traditional blockchain experiences involve managing seed phrases, navigating wallets, high fees, slow speed, and unfriendly, often intimidating transactions—barriers that can alienate potential users. Sui’s design eliminates these hurdles by offering a seamless, user-friendly blockchain experience required by games like Warped Universe, aiming to appeal to a mainstream gaming audience.

With Sui’s zkLogin feature, players can access the blockchain and create wallets using familiar credentials, like passkeys or existing logins, removing the need for seed phrases and technical know-how. For those who prefer greater control, Warped Universe will also allow players to connect their own self-custodied wallets, giving them the option to manage their assets independently. This accessibility empowers users to focus on what matters most—the game experience itself.

Enhanced NFT Utility with Move

Sui’s Move language and object model empower Warped Universe to create NFTs that go beyond static assets, offering dynamic, context-rich tokens that evolve with each player’s journey. Sui treats each asset as an individual, on-chain object with unique IDs and customizable fields, allowing NFTs to reflect player progression and deepen in-game immersion.

Innovations extend to the use of closed-loop tokens for in-game purchases and season pass NFTs, which act as "time capsules", allowing players to revisit exclusive content from past seasons. With each season in Warped Universe serving as a self-contained story arc, these season passes aren’t just NFTs—they’re gateways to the game’s evolving history, creating lasting value and enhancing player ownership.

Kiosk: Marketplace Re-Imagined

Kiosk is a decentralized system designed for commerce applications on the Sui network, similar to traditional markets where vendors sell goods or services from small, standalone booths. Just like in those markets, where individual sellers operate their own kiosks, owning the products on display and managing their own sales, with Kiosk, shared objects are owned by individual parties who store assets and may list them for sale as well as utilizing custom trading functionality, such as royalties and the ability to rent assets.

Walrus: Re-Defining Digital Ownership in Warped Universe

As Warped Universe expands, decentralized storage will play a crucial role in ensuring the authenticity and accessibility of in-game assets. Mysten Labs’ Walrus protocol is set to support this need, providing a secure and efficient way to store raw data and media files—such as images, audio, video, and other game assets—at low cost without compromising performance. Unlike traditional NFTs, which often store metadata off-chain on platforms like IPFS or AWS, Walrus enables both the NFT and its metadata to be stored in a decentralized manner. This integration introduces new ways for players in Warped Universe to experience genuine ownership of their digital assets, giving them the ability to store in-game captures or statistics, and creating a more immersive and reliable player-driven experience.

High Performance, Scalability, and Environmental Responsibility

In Warped Universe, players aren’t just playing a game; they’re building and defending entire solar systems each season, with their achievements and digital assets minted and transacted on-chain in the background. This model requires a blockchain capable of handling high transaction volumes both efficiently and affordably. Sui’s high throughput and low transaction costs make this possible, providing fast, cost-effective, and seamless on-chain transactions that support a robust gaming economy.

Sui also prioritizes environmental sustainability by using a delegated proof-of-stake (DPoS) consensus model rather than energy-intensive proof-of-work. With its efficient Directed Acyclic Graph (DAG) architecture, Sui can process large transaction volumes with minimal environmental impact—aligning perfectly with Warped Games’ vision of a sustainable, responsible gaming ecosystem.

“With Sui, we can create an immersive, evolving on-chain gaming ecosystem where players can own, modify, and evolve assets without compromising the gaming experience,” said Adam Straney, Managing Director at Warped Games. “This approach lets us build an interconnected universe on a blockchain that’s fast, scalable, and environmentally responsible, supporting our vision of an accessible, seamless player-owned economy. Gamers can focus on having fun, with blockchain as a supportive tool rather than the centerpiece."

Looking Ahead with Warped Universe and Sui

Currently, the blockchain element in Warped Universe is the $WARPED token, an ERC-20 token designed to give holders a voice in game design, seasonal voting, discounts, potential rewards, and exclusives. While specific plans for the token’s future are yet to be announced, the Warped Universe team is committed to keeping current holders top of mind as they explore expanding to the Sui blockchain. Plans for the WARPED token, on-chain assets, skins, seasonal passes, and other elements will be shared in due time—stay tuned for updates.

As Warped Universe continues to develop, the teams at Warped Games and Mysten Labs are dedicated to working closely together to explore practical blockchain integration in games, enhancing player ownership, scalability, and immersive gameplay. Together, through Warped Universe and the Sui blockchain, they’re building a unique, player-driven experience that showcases the future of blockchain gaming.

About Warped Games

Warped Games (https://warped.games/) is an indie game studio dedicated to creating immersive, player-driven gaming experiences with a focus on blockchain integration. Known for pushing the boundaries of web3 technology, the team behind Warped Games combines industry veterans from both gaming and tech to bring innovative worlds like Warped Universe to life.

About Mysten Labs

Mysten Labs is a technology company focused on advancing blockchain infrastructure to support next-generation applications. Founded by experts in distributed systems, Mysten Labs developed the Sui blockchain, a high-performance, user-friendly platform designed to make blockchain technology accessible and scalable for mainstream audiences.

LiteFinance has entered into a multi-year partnership with Premier League football club Leicester City as their Official Trading Partner.

We are excited to announce that LiteFinance has entered into a multi-year partnership with Premier League football club Leicester City as their Official Trading Partner. This collaboration marks a significant milestone for LiteFinance as we expand our presence into the world of sports, aligning our brand with one of England’s most admired football clubs. Leicester City Football Club is pleased to confirm LiteFinance as its new Official Trading Partner.

Established in 2005, LiteFinance has grown into a leading online broker, offering high-speed trading services in 29 international languages. Our platform is designed to empower clients with financial freedom, providing access to a comprehensive range of trading instruments in the currency, commodity, stock, and agricultural markets. Through this partnership, we aim to bring our innovative, accessible trading solutions to a broader audience, enhancing the experience for both our clients and Leicester City’s global fanbase. Shared Values and Vision Both LiteFinance and Leicester City share a commitment to excellence, innovation, and a global outlook. The Foxes have a significant following, particularly in Southeast Asia, where they enjoy one of the largest social media reach outside of the Premier League’s traditional top six clubs. This partnership will allow LiteFinance to engage with new audiences and create memorable experiences for football fans and our clients alike. Visibility and Engagement As part of this partnership, LiteFinance will benefit from extensive brand visibility, including pitch-facing LED advertising, logo placements on interview backdrops, and a selection of digital advertising. Additionally, our clients will have exclusive access to branded promotional materials, such as custom merchandise, and will be able to participate in special contests and promotions designed to bring excitement and memorable experiences to football fans. These initiatives are tailored to enhance engagement and connect with Leicester City supporters meaningfully. Statements from Leadership Kristina Leonova, CEO of LiteFinance, commented: “We are thrilled to embark on this exciting journey with Leicester City. This partnership reflects our mutual commitment to excellence and innovation. It will allow us to connect with new audiences and create impactful experiences while delivering on our promises and setting new standards of success.”LiteFinance is proud to partner with Leicester City Football Club and looks forward to a fruitful relationship that will bring value to both organizations and the communities we serve. We are confident that this collaboration will set the stage for innovative initiatives and successful outcomes in the future. Leicester City Commercial Director, Dan Barnett, added: “This collaboration marks an exciting chapter for us as we continue to expand our global reach with new partners. We look forward to working closely with LiteFinance to further elevate the Club's presence on the international stage in unique ways.”

0945 GMT / 0445 US Eastern time - Bank of England policymaker Catherine Mann is a panellist on the Female Central Bankers panel organised by BNP Paribas’ Global Markets

*

The Bank of England cut last week

• Forexlive Americas FX news wrap 7 Nov: FOMC/BOE cuts by 25 basis points

Expectations are for slower cuts ahead:

• More gradual Bank of England rate cuts = support for GBP

ING remarks after the wages data from Australia earlier:

• Australia data - Wage Price Index for Q3 2024: +0.8% q/q (expected +0.9%, prior +0.8%)
• Australia - "Wage inflation is moderating as expected"

ING says that year-on-year wage growth slowing to 3.5% is a step in the right direction for the Reserve Bank of Australia (RBA) to consider rate cuts.

However, ING notes this deceleration alone isn’t enough for the RBA to rule out any upside risks to interest rates.

Despite the softer data, ING believes a case for a near-term rate cut remains weak, predicting the earliest possible easing from the RBA could come in the first quarter of 2025.

**

I suspect even Q1 is too early. The RBA next meet on December 9 - 10, where on hold is expected.

At 10 am Sydney time on Thursday, November 14, 2024,

• Panel Participation by RBA Governor Michele Bullock, at the ASIC Annual Forum, Sydney
• that's 2300 GMT, 1800 US Eastern time on Wednesday, November 13, 2024

Perhaps we'll hear something on wages data from earlier today:

• Australia data - Wage Price Index for Q3 2024: +0.8% q/q (expected +0.9%, prior +0.8%)

But, probably not:

• Australia - "Wage inflation is moderating as expected"

The RBA next meet on December 9 and 10 and no change to the cash rate is widely expected.

Later today, Wednesday, 13 November, we get the US consumer inflation data for October 2024

• due at 1330 GMT, which is 0830 US Eastern time

Previews posted already:

• US CPI to be released tomorrow at 8:30 AM. Expectations are for 0.2% MoM

• US CPI data due Wednesday - possible upside surprise.
• US inflation data this week expected to show core CPI moving sideways - risk ahead higher

OK, what to expect. This snapshot from the ForexLive economic data calendar, access it here.

Taking a look at the range of expectations compared to the median consensus (the 'expected' in the screenshot above) for the key data points:

CPI Headline y/y, expected 2.6% with the range showing:

• 2.3% - 2.7%

CPI Headline m/m expected 0.2% with the range showing:

• 0.1 to 0.3%

CPI excluding food and energy (the core rate of inflation) y/y expected 3.3% with the range showing:

• 3.2 - 3.4%

CPI excluding food and energy (the core rate of inflation) m/m expected 0.3% with the range showing:

• 0.2 to 0.4%

***

Why is knowledge of such ranges important?

Data results that fall outside of market low and high expectations tend to move markets more significantly for several reasons:

• Surprise Factor: Markets often price in expectations based on forecasts and previous trends. When data significantly deviates from these expectations, it creates a surprise effect. This can lead to rapid revaluation of assets as investors and traders reassess their positions based on the new information.

• Psychological Impact: Investors and traders are influenced by psychological factors. Extreme data points can evoke strong emotional reactions, leading to overreactions in the market. This can amplify market movements, especially in the short term.

• Risk Reassessment: Unexpected data can lead to a reassessment of risk. If data significantly underperforms or outperforms expectations, it can change the perceived risk of certain investments. For instance, better-than-expected economic data may reduce the perceived risk of investing in equities, leading to a market rally.

• Triggering of Automated Trading: In today’s markets, a significant portion of trading is done by algorithms. These automated systems often have pre-set conditions or thresholds that, when triggered by unexpected data, can lead to large-scale buying or selling.

• Impact on Monetary and Fiscal Policies: Data that is significantly off from expectations can influence the policies of central banks and governments. For example, in the case of the inflation data due today, weaker than expected will fuel speculation of nearer and larger Federal Open Market Committee (FOMC) rate cuts. A stronger (i.e. higher) CPI report will diminish such expectations. the December meeting is in focus right now.

• Liquidity and Market Depth: In some cases, extreme data points can affect market liquidity. If the data is unexpected enough, it might lead to a temporary imbalance in buyers and sellers, causing larger market moves until a new equilibrium is found.

• Chain Reactions and Correlations: Financial markets are interconnected. A significant move in one market or asset class due to unexpected data can lead to correlated moves in other markets, amplifying the overall market impact.

The dollar continues to sit in a good spot this week, holding gains ahead of the main event later today. It's all about the US CPI report and markets are likely to remain more tentative up until then. As for the bigger picture, the post-election sentiment continues to play out for the most part and that remains the larger focus.

For now, USD/JPY is one to watch as it closes in on the 155.00 mark currently. That will mark the first time since the end of July that the pair is taking a run at the figure level. Is Tokyo going to step up with their verbal interventions? There's going to be little technical resistance in between this pocket here and 160.00 next.

Besides that, EUR/USD is also in focus as the pair closes in on the April low of 1.0601. Large option expiries are in play for now but it's hard to ignore the stronger dollar post-election. If that breaks, sellers will be eyeing the 1.0500 level next before the October lows from last year seen at 1.0448-51.

Why it's important?

The ranges of estimates are important in terms of market reaction because when the actual data deviates from the expectations, it creates a surprise effect. Another important input in market's reaction is the distribution of forecasts.

In fact, although we can have a range of estimates, most forecasts might be clustered on the upper bound of the range, so even if the data comes out inside the range of estimates but on the lower bound of the range, it can still create a surprise effect.

Distribution of forecasts for CPI

CPI Y/Y

• 2.7% (2%)
• 2.6% (56%) - consensus
• 2.5% (28%)
• 2.4% (12%)
• 2.3% (2%)

CPI M/M

• 0.3% (17%)
• 0.2% (73%) - consensus
• 0.1% (10%)

Core CPI Y/Y

• 3.4% (8%)
• 3.3% (81%) - consensus
• 3.2% (11%)

Core CPI M/M

• 0.4% (4%)
• 0.3% (82%) - consensus
• 0.2% (14%)

Analysis

We can ignore the headline CPI as the market will focus on the Core figures. We can notice that we have a pretty strong consensus and not much skew on either side.

Nonetheless, there's been a consistent bid in the US Dollar going into this report with Treasury yields higher and stocks kinda rangebound. The market might have already assigned some premium to a higher than expected print, so there's some risk of a short-term "sell the fact" reaction on a higher than expected number.

It goes without saying that a bigger than expected upside surprise should see the momentum increasing immediately with the US Dollar likely rallying across the board and Treasury yields shooting higher.

On the other hand, a soft print will likely see the US Dollar and Treasury yields falling, although one can argue that it's just going to provide a pullback to go long the US Dollar and short bonds again at even better levels as future conditions will likely see inflation getting stuck above the target or even moving back higher.

Fundamental Overview

The puzzling weakness in the US Dollar following Trump’s victory looks more and more like it was just a “sell the fact” reaction. The greenback is now back in the driving seat, and we might have also seen some pre-positioning in the past couple of days into a potentially hot US CPI report today.

At the latest Fed’s decision, Fed Chair Powell said that they expect bumps on inflation and that one or two bad data months on inflation won’t change the process. This keeps the 25 bps cut in December in place even if we get higher inflation readings.

The market though is forward-looking, and the rise in Treasury yields showed that the market sees risks to the inflation outlook. Moreover, the red sweep could increase those fears if the progress on inflation stalls, or worse, reverses.

The market might have already assigned some premium to a higher than expected print, so there's some risk of a short-term "sell the fact" reaction on a higher than expected number.

It goes without saying that a bigger than expected upside surprise should see the momentum increasing immediately with the US Dollar likely rallying across the board and Treasury yields shooting higher.

On the other hand, a soft print will likely see the US Dollar and Treasury yields falling, although one can argue that it's just going to provide a pullback to go long the US Dollar and short bonds again at even better levels as future conditions will likely see inflation getting stuck above the target or even moving back higher.

EURUSD Technical Analysis – Daily Timeframe

On the daily chart, we can see that EURUSD broke through the key support zone around the 1.0777 following the Trump’s victor, retested it and eventually continued lower. We are now testing another key level at 1.06 handle, and this is where the buyers are stepping in with a defined risk below the level to position for a rally back into the 1.0777 level. The sellers, on the other hand, will want to see the price breaking lower to increase the bearish bets into the 1.05 handle next.

EURUSD Technical Analysis – 4 hour Timeframe

On the 4 hour chart, we can see that we have a downward trendline defining the current bearish momentum. We can expect the sellers to lean on it to position for the break below the 1.06 handle, while the buyers will look for a break higher to increase the bullish bets into the 1.0777 level.

EURUSD Technical Analysis – 1 hour Timeframe

On the 1 hour chart, we can see that we have a minor resistance zone around the 1.0630 level where we have the trendline for confluence. This is where the sellers are likely to step in with a defined risk above the trendline to position for the break below the 1.06 handle. The buyers, on the other hand, will look for a break higher to increase the bullish bets into the 1.0777 level. The red lines define the average daily range for today.

Upcoming Catalysts

Today, we have the US CPI report. Tomorrow, we get the latest US Jobless Claims figures. On Friday, we conclude the week with the US Retail Sales data.

Fundamental Overview

The puzzling weakness in the US Dollar following Trump’s victory looks more and more like it was just a “sell the fact” reaction. The greenback is now back in the driving seat, and we might have also seen some pre-positioning in the past couple of days into a potentially hot US CPI report today.

At the latest Fed’s decision, Fed Chair Powell said that they expect bumps on inflation and that one or two bad data months on inflation won’t change the process. This keeps the 25 bps cut in December in place even if we get higher inflation readings.

The market though is forward-looking, and the rise in Treasury yields showed that the market sees risks to the inflation outlook. Moreover, the red sweep could increase those fears if the progress on inflation stalls, or worse, reverses.

The market might have already assigned some premium to a higher than expected print, so there's some risk of a short-term "sell the fact" reaction on a higher than expected number.

It goes without saying that a bigger than expected upside surprise should see the momentum increasing immediately with the US Dollar likely rallying across the board and Treasury yields shooting higher.

On the other hand, a soft print will likely see the US Dollar and Treasury yields falling, although one can argue that it's just going to provide a pullback to go long the US Dollar and short bonds again at even better levels as future conditions will likely see inflation getting stuck above the target or even moving back higher.

USDCHF Technical Analysis – Daily Timeframe

On the daily chart, we can see that USDCHF broke through the key downward trendline following Trump’s victory and, after a brief pullback, continued higher as the trend in the US Dollar remains skewed to the upside.

We now have an upward trendline defining the current bullish momentum. If we get a pullback, we can expect the buyers to lean on it to position for a rally into new highs, while the sellers will look for a break lower to pile in for a drop into the 0.85 handle.

USDCHF Technical Analysis – 4 hour Timeframe

On the 4 hour chart, we can see that we have another minor upward trendline defining the bullish momentum on this timeframe. The buyers will likely keep on leaning on it to push into new highs, while the sellers will look for a break lower to start targeting new lows.

USDCHF Technical Analysis – 1 hour Timeframe

On the 1 hour chart, there’s not much to add here as the buyers will look for a bounce around the trendline, while the sellers will look for a break. The US CPI report today is going to be a major catalyst, so it would be better to wait for the release before taking any position. The red lines define the average daily range for today.

Upcoming Catalysts

Today, we have the US CPI report. Tomorrow, we get the latest US Jobless Claims figures. On Friday, we conclude the week with the US Retail Sales data.

WASHINGTON, D.C. – In response to the passing on Disney Senior Vice President of Government Relations Richard Bates, the following statement can be attributed to NAB President and CEO Gordon Smith:

WASHINGTON, D.C. – In response to the Department of Justice's decision to take no action on the consent decrees governing the performance royalty organizations ASCAP and BMI, the following statement can be attributed to NAB President and CEO Gordon Smith:

WASHINGTON, D.C. – In response to today's announcement by President Joe Biden that Jessica Rosenworcel will serve as acting chair of the Federal Communications Commission, the following statement can be attributed to NAB President and CEO Gordon Smith:

WASHINGTON, D.C. – The National Association of Broadcasters (NAB) today announced the creation of an advisory committee to the NAB Board of Directors that will provide insights and suggestions on diversity, equity and inclusion (DEI) issues. The committee will consist of senior-level broadcasters who are women and people of color, and may include current NAB and NAB Leadership Foundation (NABLF) board members who are committed to advancing DEI issues in broadcasting.

WASHINGTON, D.C. – In response to the passing of Rush Limbaugh, the following statement can be attributed to NAB President and CEO Gordon Smith:

WASHINGTON, D.C. – RaMona Alexander, vice president and general manager of WDBD, and Dan York, president and chief executive officer of Cox Media Group (CMG), were appointed to the NAB Television Board of Directors, and Rob Babin, senior vice president, head of radio for CMG, was appointed to the NAB Radio Board of Directors, effectively immediately. The appointments were made by NAB TV Board Chair Emily Barr and NAB Radio Board Chair Dave Santrella, respectively, in accordance with NAB bylaws.

WASHINGTON, D.C. – In response to the inclusion of $1 billion for a vaccine awareness campaign in the American Rescue Plan Act of 2021, the following statement may be attributed to NAB President and CEO Gordon Smith: 

WASHINGTON, D.C. – In response to the introduction of the Modern Television Act of 2021 by Reps. Steve Scalise (R-LA) and Anna Eshoo (D-CA) that would eliminate the legal underpinnings of the local broadcast system, the following statement can be attributed to NAB Senior Vice President of Communications Ann Marie Cumming:

WASHINGTON, D.C. – Today, the House Judiciary Subcommittee on Antitrust, Commercial, and Administrative Law is holding a hearing titled "Reviving Competition, Part 2: Saving the Free and Diverse Pres."

Washington, D.C. -- U.S. Rep. Karen Bass (CA-37) will be the inaugural guest in an exclusive new Spotlight Series from the National Association of Broadcasters (NAB) featuring members of Congress discussing key initiatives to advance diversity, equity and inclusion and their perspectives on broadcast media.

Washington, D.C. -- The National Association of Broadcasters announced Charlyn Stanberry has joined the organization as vice president of Government Relations, effective today. Stanberry will report to Shawn Donilon, executive vice president of Government Relations.