• Broker wars go crypto as Thiel-backed startup BlockFi offers free trades
    Yahoo Finance

    Broker wars go crypto as Thiel-backed startup BlockFi offers free trades

    New Jersey-based BlockFi is extending their services to allow customers to trade their cryptocurrencies with zero fees attached.

  • Robots in Finance Could Wipe Out Some of Its Highest-Paying Jobs
    Bloomberg

    Robots in Finance Could Wipe Out Some of Its Highest-Paying Jobs

    (Bloomberg) -- Robots have replaced thousands of routine jobs on Wall Street. Now, they’re coming for higher-ups.That’s the contention of Marcos Lopez de Prado, a Cornell University professor and the former head of machine learning at AQR Capital Management LLC, who testified in Washington on Friday about the impact of artificial intelligence on capital markets and jobs. The use of algorithms in electronic markets has automated the jobs of tens of thousands of execution traders worldwide, and it’s also displaced people who model prices and risk or build investment portfolios, he said.“Financial machine learning creates a number of challenges for the 6.14 million people employed in the finance and insurance industry, many of whom will lose their jobs -- not necessarily because they are replaced by machines, but because they are not trained to work alongside algorithms,” Lopez de Prado told the U.S. House Committee on Financial Services.During the almost two-hour hearing, lawmakers asked experts about racial and gender bias in AI, competition for highly skilled technology workers, and the challenges of regulating increasingly complex, data-driven financial markets.Other comments from the hearing:Kirsten Wegner, chief executive officer, Modern Markets Initiative:“As bad actors become more sophisticated, it is vital that financial regulators have the funding resources, technological capacity and access to AI and automated technologies to be a strong and effective cop on the beat.”Martina Rejsjö, head of Nasdaq Surveillance North America Equities, Nasdaq Inc.:Nasdaq runs more than 40 different algorithms, using about 35,000 parameters, to look for market abuse and manipulation in real time.“The massive and, in many cases, exponential growth in market data is a significant challenge for surveillance professionals,” she said. “Market abuse attempts have become more sophisticated, putting more pressure on surveillance teams to find the proverbial needle in the data haystack.”Rebecca Fender, senior director, CFA Institute:Forty-three percent of CFA members and candidates expect their roles to change significantly in the next five to 10 years, according to a survey of more than 3,800 respondents. The three roles most likely to disappear are sales agents, traders and performance analysts.Charlton McIlwain, professor of media, culture and communication at New York University:“Racial groups that are already extremely underrepresented in the financial services industry will be most at risk in terms of automation and the escalation of fintech development. This is especially true given the vast underrepresentation of African-Americans and Latinx in the adjacent technology sector workforce.”To contact the reporter on this story: Lananh Nguyen in New York at lnguyen35@bloomberg.netTo contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, Daniel Taub, David ScheerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • AUD/USD Weekly Price Forecast – Australian Dollar Forms Massive Bullish Candle
    FX Empire

    AUD/USD Weekly Price Forecast – Australian Dollar Forms Massive Bullish Candle

    The Australian dollar has broken higher during the trading week, as we continue to see moves to the upside. There is a massive amount of support underneath at the 0.67 level as we have formed a bit of a “double bottom” in that area, and as a result now we have to question whether or not a trend change is about happen.

  • AUD/USD Price Forecast – Australian Dollar Remains Range Bound
    FX Empire

    AUD/USD Price Forecast – Australian Dollar Remains Range Bound

    The Australian dollar had rallied a bit during the trading session on Friday, and as the jobs never came out of America much stronger than anticipated, there was more of a “risk on” sentiment out there.

  • Does Nasdaq, Inc. (NASDAQ:NDAQ) Have A Good P/E Ratio?
    Simply Wall St.

    Does Nasdaq, Inc. (NASDAQ:NDAQ) Have A Good P/E Ratio?

    This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios...

  • Financial Times

    NYSE direct listings proposal rejected by SEC 

    to allow companies to raise capital through direct listings, setting back efforts to expand the low-cost alternative to traditional initial public offerings. NYSE proposed the changes last month in a regulatory filing in which it set out rules for “primary direct floor listings” in which companies could raise a minimum of $250m. “We remain committed to evolving the direct listing product,” an NYSE spokesperson said in a statement.

  • AUD/USD and NZD/USD Fundamental Daily Forecast – Decision Time for Kiwi Bulls
    FX Empire

    AUD/USD and NZD/USD Fundamental Daily Forecast – Decision Time for Kiwi Bulls

    The NZD/USD has been bullish since Monday’s strong rally was fueled by talk of fiscal stimulus to boost the New Zealand economy. The Kiwi was also boosted after an unexpected rebound in Chinese manufacturing raised hopes of a brighter outlook for the world economy.

  • GBP/USD – Pound Pauses After Impressive Rally, U.S. Job Data Looms
    FX Empire

    GBP/USD – Pound Pauses After Impressive Rally, U.S. Job Data Looms

    The British pound has taken a breather on Friday, but is up almost 2 percent on the week. The pound has gained ground as the Conservatives continue to hold a lead in election polls. The Aussie and NZ dollar have also posted sharp gains against the U.S dollar this week.

  • Economic Data Puts the Greenback in Focus as Geopolitical Risk Lingers
    FX Empire

    Economic Data Puts the Greenback in Focus as Geopolitical Risk Lingers

    Nonfarm payrolls from the U.S will influence later in the day. The UK election opinion polls and trade news also need a watchful eye.

  • Cboe Global's (CBOE) November Volumes Weak, Decline Y/Y
    Zacks

    Cboe Global's (CBOE) November Volumes Weak, Decline Y/Y

    Cboe Global's (CBOE) November volumes reflect decrease in options and futures contract.

  • GBP/USD – Pound Hits 7-Month High Ahead of Election
    FX Empire

    GBP/USD – Pound Hits 7-Month High Ahead of Election

    The pound continues to gain ground, as the markets are pleased that Prime Minister Johnson remains ahead in the polls, with just one week to Election Day. In the Pacific region, the Aussie, NZ Dollar and Chinese yuan are trading quietly.

  • Financial Times

    Wall Street power player makes her political debut

    Kelly Loeffler was the smooth investor-relations chief who pitched Intercontinental Exchange to Wall Street. Now she is promoting President Donald Trump’s border wall. When the executive from the Atlanta-based exchange group on Wednesday was named a Republican senator for the southern US state of Georgia, she wasted no time professing loyalty to the president.

  • Stats and Opinion Polls Put the EUR and the GBP in Focus
    FX Empire

    Stats and Opinion Polls Put the EUR and the GBP in Focus

    Economic data puts the EUR in focus, while the Pound continues to rise on expectations of a Tory victory…

  • AUD/USD Forex Technical Analysis – Trader Reaction to .6842 Will Determine Direction on Thursday
    FX Empire

    AUD/USD Forex Technical Analysis – Trader Reaction to .6842 Will Determine Direction on Thursday

    Based on the early price action and the current price at .6842, the direction of the AUD/USD on Thursday is likely to be determined by trader reaction to the short-term 50% level at .6842.

  • AUD/USD and NZD/USD Fundamental Daily Forecast – NZD Surges on Bank Capitalization Plans, AUD Pressured by Weak Retail, Trade Balance Data
    FX Empire

    AUD/USD and NZD/USD Fundamental Daily Forecast – NZD Surges on Bank Capitalization Plans, AUD Pressured by Weak Retail, Trade Balance Data

    The Australian Dollar is trading lower after retail sales came in flat and the Trade Balance came in weaker than forecast. The New Zealand Dollar is surging early Thursday on the back of positive comments from Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr.

  • Financial Times

    FirstFT: Today’s top stories

    FT subscribers can click here to receive FirstFT every day by email. Nearly two-thirds of Americans say this year’s record-setting Wall Street rally has had little or no impact on their personal finances, ...

  • Trade of the 2020's: Sell Gold, Buy Biotech
    Zacks

    Trade of the 2020's: Sell Gold, Buy Biotech

    In 5 years, you be selling your gold and buying more companies leading the century of biology.

  • Investing.com

    Asian currencies fueled by new trade optimism

    Investing.com – Asian currencies made something of a comeback on Thursday morning in Asia as optimism about a possible trade deal between China and the US returned. The USD was lost a little ground and the Australian dollar stopped a multi-day slide even as the Yuan continued to slide.

  • The stock market's biggest winners and losers of the past decade
    Yahoo Finance

    The stock market's biggest winners and losers of the past decade

    With the 2010s officially drawing to a close, Yahoo Finance took a look at some of the biggest S&P 500 winners and losers of the past decade based on price returns.

  • GBP/USD – Pound Flirting with 1.30, Services PMI Next
    FX Empire

    GBP/USD – Pound Flirting with 1.30, Services PMI Next

    The British pound is hovering around the 1.33 line on Wednesday. We could some movement from GBP/USD in the North American session, with key services and employment reports out of the U.S. The Australian dollar is lower after GDP missed the forecast.

  • AUD/USD Forex Technical Analysis – Return of Downside Momentum Could Lead to Test of .6800 to .6770
    FX Empire

    AUD/USD Forex Technical Analysis – Return of Downside Momentum Could Lead to Test of .6800 to .6770

    Based on the early price action and the current price at .6822, the direction of the AUD/USD the rest of the session on Wednesday is likely to be determined by trader reaction to the 50% level at .6842.

  • Tariff Man Returns With A Vengeance
    FX Empire

    Tariff Man Returns With A Vengeance

    The S&P500; is down around .75 % heading into the close and US 10-year yields off 11bps to 1.71%. European and Asian equities fell too.

  • The BoC and the Loonie are in Action, with Geopolitics and Stats also in Focus
    FX Empire

    The BoC and the Loonie are in Action, with Geopolitics and Stats also in Focus

    It’s a busy day ahead. Geopolitics, the BoC and service sector activity will keep the markets busy on the day ahead…

  • Investing.com

    USD steady as more trade woes hit Asia

    Investing.com – The dollar held steady in morning trade in Asia Wednesday morning after US President Donald Trump raised doubts that a trade deal with China will be signed before the end of next year.