The Canadian dollar edged higher against its U.S. counterpart as oil prices rose, but the currency held near an earlier 4.5-year low as investors bet on another supersized interest rate cut this week from the Bank of Canada.
Microsoft shareholders voted against a resolution to add Bitcoin to the company’s balance sheets during the firm’s annual meeting. It was recommended that company uses between 1% and 5% of the firm’s profits to purchase Bitcoin. The board called the proposal “unnecessary” and said the company “already carefully considers this topic.”
The dollar was up slightly in skittish trading as investors awaited U.S. inflation data later this week, while the Australian and New Zealand dollars rallied after China pledged an “appropriately loose” monetary policy next year.
The Aussie-Dollar pair rose 0.8% in the last session. The Williams indicator’s is giving a positive signal.
Support: 0.6304 | Resistance: 0.6579
Gold prices hit two-week highs, climbing more than 1% on renewed buying of the metal by China’s central bank following a six-month hiatus, with bullishness increased by anticipation of a U.S. Federal Reserve interest rate cut next week.
The last session saw the Gold gain 0.9% against the Dollar. The RSI is giving a positive signal.
Support: 2586 | Resistance: 2732.7
Oracle missed Wall Street expectations for second-quarter revenue, hit by softer spending on its database and cloud services as enterprise clients slash budgets amid an uncertain economy, sending its shares down over 9% in extended trading.
A U.S. federal appeals court upheld a law requiring Chinese-based ByteDance to divest its popular short video app TikTok in the US by early next year or face a ban. The decision is a major win for the Justice Department and opponents of the app and a devastating blow to TikTok parent ByteDance.
