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  • AstraZeneca partners with AI company to find cure for cancer News - 46 minutes ago
    The collaboration aims to create a zero-shot generative AI model, which would work on creating new antibody therapeutics and enhancing the existing ones. The pharmaceutical company that developed one of the vaccines for COVID-19, AstraZeneca, will partner with a United States-based Artificial Intelligence (AI) biologics firm, Absci, to design an antibody for cancer. According to a Financial Times report on Dec. Related: AI in healthcare. New tech in diagnosis and patient careAbsci’s website claims its AI screens “billions of cells” each week, going from antibodies to wet “lab-validated candidates” in six weeks. “AI is enabling us to not only increase the success and speed of our biologics discovery process, but also enhance the diversity of the biologics we discover.”Absci CEO Sean McClain had also publicly confirmed the partnership, stating that AstraZeneca will help to leverage its AI work, according to a Reuters report. AI is gaining momentum in the healthcare industry, as…
  • Breakout or $40K bull trap? 5 things to know in Bitcoin this week News - 59 minutes ago
    Bitcoin surges past the key $40,000 amid a macro liquidity boost, but traders’ predictions include a BTC price crash of 25% or more. Bitcoin (BTC) starts the first week of December looking better than it has since early 2022 — at over $40,000.BTC price action is delighting bulls already as the month begins, with the weekly close providing the first trip above the $40,000 mark since April last year.Shorts are getting wiped and liquidity taken as the bull run sees its latest boost on the back of macroeconomic changes and anticipation of the United States’ first spot price exchange-traded fund (ETF).Despite misgivings and some predicting a major price retracement, Bitcoin continues to offer little respite for sellers, who continually miss out on profits or are left waiting on the sidelines for an entry price which never comes.The party mood is not just reflected on markets — Bitcoin miners are busy…
  • South African regulator may license 36 crypto companies in December News - 1 hour ago
    The Financial Sector Conduct Authority reviewed 128 applications from crypto service asset providers. South Africa’s principal financial regulator, the Financial Sector Conduct Authority (FSCA), reviewed 128 applications from crypto service asset providers (CASPs) but intends to discuss only 36 during its next meeting in December. The numbers were published on Nov. The fate of all the remaining applications wasn’t specified by the Authority, which explained its evaluation method as the combined assessment of Know Your Customer onboarding, data protection, cyber risk management, conflict of interest management, complaints handling, and credit counterparty risk management.The FSCA also published its “Crypto Assets Markets Study” for 2023 on the same day, Nov. Related: Kenyan lawmakers ask local Blockchain Association to come up with crypto billAccording to the survey, the average crypto asset provider in South Africa (46%) has an annual revenue of between 1 and 50 million South African rand ($53,000 to $2.7 million). Source:…
  • Bitcoin (BTC), Ethereum (ETH) Surge to Fresh 18-Month Highs
    DailyFX - Market News - 26 minutes ago
    Bitcoin and Ethereum have broken through prior areas of resistance and are back at levels last seen 18 months ago.
  • XAU/USD Breaking News: Gold Reaches All-Time Highs
    DailyFX - Market News - 3 hours ago
    Gold prices almost hit the $2150 level as safe haven demand from increasing tensions in the Middle East. XAU/USD now looks to be in for a breakdown lower.
  • Markets Week Ahead: Gold in Record Zone as Dow Breaks Out; EUR/USD, USD/JPY Eye NFP
    DailyFX - Market News - 17 hours ago
    The U.S. ISM services PMI and November U.S. employment data will take center stage this week. These reports are likely to offer invaluable clues about the health of the U.S. economy, which could set the tone for financial markets.
  • Dollar keeps steady to start the new week
    Forexlive RSS Breaking News Feed - 12 minutes ago
    The dollar is keeping steadier so far in European trading, as risk sentiment is looking a bit nervy to start the new week. The greenback is mostly higher across the board, only down marginally against the Japanese yen. In the bond market, Treasury yields are a touch higher so that is perhaps helping to give the greenback a bit more of a steadying hand on the session.10-year Treasury yields are up 2.5 bps to 4.249% currently. Meanwhile, S&P 500 futures are down 0.3% so that isn’t doing much to help commodity currencies at the moment.AUD/USD is down 0.4% to 0.6645 while USD/CAD is up 0.4% to 1.3545 as oil prices are also sitting lower on the day.The euro continues to struggle after last week’s fall, following softer inflation data which sped up ECB rate cut odds to April next year. EUR/USD is down 0.2% to 1.0863 as the retreat from…
  • Market Outlook for the Week of 4-8 December
    Forexlive RSS Breaking News Feed - 45 minutes ago
    Last week was marked by the RBNZ’s decision to maintain its official cash rate, which was interpreted as a hawkish stance by the market. Furthermore, they revised their rate projections, indicating that “if inflationary pressure were to be stronger than anticipated, the OCR would likely need to increase further.”In the U.S., Fed’s Waller made some dovish comments hinting at potential rate cuts. It will be interesting to watch in the coming weeks if other Fed members share the same perspective, and particularly if Chair Powell does as well. I believe Powell will be reserved with expressing such views for now.Looking ahead to this week, several important economic events are on the horizon.Monday kicks off at a slow pace, with ECB President Lagarde scheduled to discuss monetary policy at the Academy of Moral and Political Sciences in Paris.Tuesday brings notable releases, including the Tokyo Core CPI y/y for Japan; the RBA…
  • Gold Technical Analysis
    Forexlive RSS Breaking News Feed - 49 minutes ago
    The rally in Gold looks unstoppable as many positive drivers keep pushing the price to new highs. Gold is correlated with real yields and those kept on falling lately due to weakening US data that led to a fall in inflation expectations and Treasury yields. The market might have gone too far too fast though as the rates pricing has reached five cuts in 2024, although they can easily increase if the data worsens even more. The bias remains bullish, and the dips will likely be bought strongly, but watch out for a quick deterioration in the data not followed by a strong Fed reaction as that could make real yields to spike higher and weigh on Gold like it happened in the recent two recessions. Gold Technical Analysis – Daily TimeframeOn the daily chart, we can see that Gold today spiked higher in the APAC session amid low liquidity.…
  • Ethereum Breaks Through $2,200 Ceiling, Investors Expect $3,000 This Week
    NewsBTC - 48 minutes ago
    The price of Ethereum (ETH) has risen sharply today, hitting a new 2023 high of $2,250 as the cryptocurrency market continued to trend higher toward a successful year-end. The recent strong upward trend in Ethereum aligns with Bitcoin’s continuous attempt to break above $41,000, which it did today. As of the time of writing, the price of bitcoin was $41.437. Analysts say the approval of a BlackRock spot ether instrument would result in an influx of institutional capital into Ethereum, the second-largest cryptocurrency network globally. Related Reading: ORDI Shatters Records With New All-Time High In Bullish Surge Ethereum’s Price Surge The most recent charts show an upward trajectory that has many analysts and investors upbeat about the cryptocurrency hitting the coveted $3,000 barrier in the upcoming weeks or months. As this transpired, a crucial on-chain trade statistic reveals that, just 24 hours prior to the most recent price breakout, Ethereum…
  • Bitcoin Price Blasts Past $41,500: Here Are The Reasons
    NewsBTC - 3 hours ago
    In a remarkable surge, Bitcoin’s price has soared past the $41,500 mark, fueled by a confluence of factors ranging from market anticipation of a Bitcoin spot ETF to broader financial trends. Here’s a detailed analysis of the key reasons behind this rally: #1 Spot Bitcoin ETF: The Anticipation Game The buzz around the approval of a spot Bitcoin ETF remains probably the most significant driver of the recent price surge. Although there hasn’t been a specific update, the market anticipation is palpable, with a FOMO effect kicking in. Last week, Bloomberg analyst James Seyffart suggested that a spot ETF is likely to be approved between January 8 and 10, causing the market to react. Renowned Bitcoin analyst Willy Woo mirrored the anticipation with this statement, “It’s very likely we are on the eve of a Bitcoin spot ETF. The first commodity ETF was SPDR Gold Trust. It provided a simple…
  • Bitcoin Cash Price Pumps Over 10% But $255 Is The Key To More Gains
    NewsBTC - 5 hours ago
    Bitcoin Cash price rallied over 10% and broke the $245 resistance. BCH is now facing strong resistance near the $255 zone. Bitcoin cash price started a fresh surge above the $232 resistance. The price is trading above $245 and the 100 simple moving average (4 hours). There was a break above a key bearish trend line with resistance near $225 on the 4-hour chart of the BCH/USD pair (data feed from Kraken). The pair could continue to move up if it clears the $255 resistance zone. Bitcoin Cash Price Rallies Above $250 After forming a base above the $220 level, Bitcoin Cash price started a steady increase. It broke the $225 resistance to enter a positive zone, like Bitcoin and Ethereum. There was a break above a key bearish trend line with resistance near $225 on the 4-hour chart of the BCH/USD pair. There was a strong increase above the…
  • AUD/USD Forecast: Markets Reflect on Powell’s Cautious Remarks
    Forex Crunch - 1 hour ago
    Powell affirmed that US monetary policy was slowing the economy as anticipated. There is a 60% likelihood of a Fed rate cut by March. The Reserve Bank of Australia will probably maintain its key interest rate at 4.35%. Monday’s AUD/USD forecast has a subtle bearish tone as the dollar tries to recover after declining due… The post AUD/USD Forecast: Markets Reflect on Powell’s Cautious Remarks appeared first on Forex Crunch.
  • USD/CAD Weekly Forecast: US Inflation Data Weakens Dollar
    Forex Crunch - 1 day ago
    US economic data supported the view that the Fed would soon start cutting rates. Canada reported a higher-than-expected employment growth. The BoC will likely maintain its main policy rate at 5.0% next week. The USD/CAD weekly forecast predicts a bearish trajectory, with recent US data signaling a potential conclusion to Fed rate hikes. This narrative… The post USD/CAD Weekly Forecast: US Inflation Data Weakens Dollar appeared first on Forex Crunch.
  • AUD/USD Weekly Forecast: Aussie Dips Amid Downbeat CPI
    Forex Crunch - 1 day ago
    Australia witnessed a greater-than-expected easing of inflation in October. The dollar was weak as data supported expectations for Fed rate cuts. On Tuesday, the RBA will likely maintain its key interest rate at 4.35%. The AUD/USD weekly forecast hints at a somewhat bearish outlook. The Aussie takes a dip as Australia’s easing inflation sets the… The post AUD/USD Weekly Forecast: Aussie Dips Amid Downbeat CPI appeared first on Forex Crunch.