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The next wave of AI: Is Nvidia set for a strong rally?
Nvidia's stock has surged 25% in the last month, signaling continued strength in the AI rally.
Nvidia's stock has surged 25% in the last month, signaling continued strength in the AI rally. With anticipation building around its upcoming Blackwell chips, Nvidia is poised to lead the next wave of AI demand.
Unprecedented demand for Blackwell chips:
Tech giants like OpenAI, Microsoft, and Meta are eager to integrate Nvidia’s Blackwell chips into their AI-driven data centers. Priced between $30,000 and $40,000 per unit, these chips promise major advancements over the current Hopper models, with billions in revenue expected as production ramps up.
Nvidia’s AI hardware dominance:
Nvidia’s GPUs power nearly every AI application, driving its impressive financial performance, including a 122% year-over-year revenue increase in the latest quarter. The company's leadership in AI hardware has also helped it surpass Microsoft as the second-most valuable company globally.
Technical outlook:
Nvidia’s stock is currently around $134 with strong momentum, though flat RSI near 70 and nearing the Bollinger band suggest a potential slowdown. Analysts are eyeing the path to $200 as the AI demand continues to grow.
Read the full article here: https://www.finextra.com/blogposting/27027/the-next-wave-of-ai-is-nvidia-set-for-a-strong-rally.
Celebrating 25 Years: Trust, Service, and Innovation continue to drive the future of Deriv
Deriv, a renowned broker in the financial industry is celebrating its 25th anniversary today, marking a quarter-century of growth and industry leadership.
- Deriv sets sight on global expansion, innovation, and a new era of leadership as it marks a major quarter-of-a-century milestone.
- New CSR framework launched to serve local and global communities through action-based sustainable and scalable initiatives.
15 October 2024, Cyberjaya, Malaysia – Deriv, a renowned broker in the financial industry is celebrating its 25th anniversary today, marking a quarter-century of growth and industry leadership. This milestone comes on the heels of exciting developments for the company, including a new co-leadership model, the opening of new offices in the UK and Senegal and several prestigious awards.
Deriv has grown into a global leader in the online trading industry, currently serving over 2.5 million clients worldwide, and a $650B+ monthly volume. Its commitment to innovation has seen the company introduce new trading platforms, diverse asset classes, and comprehensive educational resources.
“Today is a big day for Deriv. When I step back and look at how much we have grown and achieved since we started out 25 years ago, there is a lot of pride in our successes”, said Jean-Yves Sireau. “This is exactly what keeps us focused on everything Deriv wants to achieve in the next 25 years.
Technology - especially AI and automation tools - will continue to be a critical factor in future-proofing Deriv’s operations for 2025 and beyond. The focus is on making systems more secure, protecting customer data, and staying compliant with regulations. These innovations will continue to give customers the best experience possible, ensuring Deriv remains competitive in a fast-changing digital world.
Key highlights from Deriv's 25th anniversary year:
- Adopting a Dual Leadership model: Deriv undertook a huge shift in its management structure, promoting Rakshit Choudhary from COO to co-CEO alongside Deriv’s founder, Jean-Yves Sireau. The strategic change capitalised on the different strengths and diverse experience of the two leaders improving critical decision-making for the company as it doubled down on its growth strategy.
- 2024 Emerges as the Year of Award Wins: Reinforcing its successes, Deriv picked up awards for its products including ‘Affiliate Programme of the Year’ at the the recent Forex Expo Dubai, ‘Best Customer Support’ at the Global Forex Awards and ‘Most Trusted Broker’ and ‘Best Trading Experience (LATAM)’ at the Ultimate Fintech Global Awards 2024.
- Accreditations for its Investment in People: Deriv was recognised as a top employer, receiving prestigious accreditations including ‘Investors in People Platinum’ and ‘Great Place to Work’ certifications across seven offices, named one of ‘Cyprus’s Best Workplaces™ 2024’ and ‘Best Workplaces™ in Financial Services and Insurance 2024’ in the UK.
- Global Office Expansion: Deriv opened a second office in the UK (London), along with establishing a new office in Rwanda.
"Being recognised for our commitment to trust and service in our 25th year is especially meaningful," said Rakshit Choudhary, co-CEO at Deriv. With our eyes firmly set on global expansion, our people and our values will continue to steer us on our mission to make trading accessible to anyone, anywhere.”
Making a Pledge to a Sustainable Future
As part of its commitment to the future, Deriv has set out a long-term vision for social responsibility. Its purpose is to support projects that contribute to global sustainability and community well-being.
Initiatives in 2024 included:
- Aided TECHO a youth-led nonprofit in Asunción, Paraguay, focused on housing solutions for communities
- Collaborated with DuHope, a Rwandan NGO helping women in need of support
- Supported Puttinu Cares, a children's cancer support group in Malta
- Backed the Kahuna Patagonia expedition, which combined adventurous endeavours with scientific, environmental research.
“Beyond 2024, Deriv will expand its social responsibility initiatives across the regions where it operates. We are committed to creating a better future, making a positive impact by serving local and global communities through action-based, scalable and sustainable initiatives," added Sireau.
Looking Ahead: Preparing for the Next 25 Years
As Deriv reflects on its incredible history, the company is ready to continue pushing boundaries for another 25 years and beyond. With a future-proof leadership model, client-centric focus, and an eye for innovation, Deriv is well-positioned for the next era of growth.
About Deriv
For 25 years, Deriv has been committed to making online trading accessible to anyone, anywhere. Trusted by over 2.5 million traders worldwide, the company offers an expansive range of trade types and boasts over 300 assets across popular markets on award-winning, intuitive trading platforms. The company’s dedication to innovation and client satisfaction has earned it numerous accolades, including the recent ‘Best Customer Service’ award at the Global Forex Awards.
Japanese yen forecast: Recovery in sight or is economic pressure here to stay?
The Japanese Yen (JPY) trimmed some of its recent losses during Friday's London trading session, offering temporary relief after a sharp decline earlier in the week.
The Japanese Yen (JPY) trimmed some of its recent losses during Friday's London trading session, offering temporary relief after a sharp decline earlier in the week. The yen had faced significant pressure following comments from Japan’s new Prime Minister, Shigeru Ishiba, and Bank of Japan (BoJ) Governor Kazuo Ueda, both of whom signaled a cautious approach to monetary policy. Despite this recovery, the broader outlook for the yen remains clouded, with economic headwinds and subdued expectations for interest rate hikes likely to continue influencing the currency's performance.
Yen outlook: Interest rate uncertainty and economic priorities
Prime Minister Ishiba’s stance on Japan’s interest rates has been pivotal in shaping the recent movements of the yen. Earlier this week, Ishiba stated, "I do not believe that we are in an environment that would require us to raise interest rates further," reinforcing the view that Japan is not yet ready for tighter monetary policy. This statement, combined with Governor Ueda’s cautious approach, has dampened market expectations of any imminent interest rate hikes by the BoJ, adding to the yen’s weakness against major currencies like the U.S. dollar.
Before assessing the potential impact of monetary tightening and the yen's future outlook, it's essential to examine how a weaker yen affects the broader economy. Over the past few years, the yen has depreciated due to the growing interest rate differential between the U.S. and Japan. Despite efforts by the Japanese government since 2020 to encourage companies in China to relocate back to Japan and Southeast Asia, industrial production has not experienced a significant rebound.
While Japan’s real GDP has increased in yen terms, its GDP in U.S. dollars has declined, suggesting that much of the growth is a result of the weaker yen rather than underlying economic strength. This highlights the reliance of Japan's economy on currency-driven growth, which may complicate any future decisions to tighten monetary policy.
Japan’s ongoing struggle with deflation and the government's focus on economic growth continue to play a significant role in monetary policy decisions. Overcoming deflation remains Japan’s top priority, and both Prime Minister Ishiba and the BoJ are committed to maintaining an accommodative policy stance until this goal is achieved. The BoJ’s 2% inflation target, while still in place, has proven difficult to reach, and any move towards tightening monetary policy is likely to be delayed until more concrete signs of economic recovery emerge.
Will the yen get stronger?
While the yen's performance in the near term may be influenced by global factors like U.S. dollar strength and economic data releases, the longer-term outlook remains uncertain. With the BoJ maintaining its ultra-loose monetary policy and showing little inclination to raise interest rates, the yen could face sustained downward pressure in the months ahead.
Moreover, the broader economic landscape in Japan, including rising costs and the potential for increased government spending, suggests that the yen may continue to struggle in the absence of stronger inflationary pressures. Prime Minister Ishiba has pledged to introduce an economic package aimed at easing the impact of rising costs on households, but the effect of such measures on the yen’s value remains to be seen.
The upcoming supplementary budget and Japan’s fiscal strategy will be crucial in shaping both the yen's trajectory and market sentiment. While some analysts believe that the yen could recover if the BoJ signals a shift in policy or if inflation accelerates beyond expectations, the current environment suggests a more cautious outlook.
Technical outlook: USD to yen forecast
At the time of writing the pair trades at around 146.61, with bullish momentum evident on the daily chart. However, the RSI retreating towards 60, with price close to the upper boundary of the bollinger band, hints at overbought conditions.
Buyers could struggle to breach the upper boundary of the bollinger band, potentially being stopped at 146.72, with a further up potentially being stopped at the 100-day moving average. On the downside, sellers could be held at the 145.22 price level, with a further move down likely to hold 144 psychological levels.
As for now, you can get involved and speculate on the trajectory of this pair with a Deriv MT5 account. It offers a list of technical indicators that can be employed to analyse prices. Log in now to take advantage of the indicators, or sign up for a free demo account. The demo account comes with virtual funds so you can practise analysing trends risk-free.
Oil price forecast: Are we headed for unprecedented highs?
Oil surges above $71 as tensions in the Middle East escalate, following Iran’s missile strike on Israel.
Oil surges above $71 as tensions in the Middle East escalate, following Iran’s missile strike on Israel. US Oil prices have rebounded from last week’s lows of $67, reaching $71.35 in early trading on Wednesday. The attack has sparked fears of supply disruptions, pushing oil prices higher as markets brace for further escalations.
Geopolitical impact: With Iran being a major oil producer, the risk of production disruptions is high, potentially driving prices to new highs. This follows historical patterns where geopolitical tensions involving Iran have led to significant oil price surges.
Technical outlook: Analysts suggest US Oil is facing resistance near $72, with a potential challenge around the 100-day moving average at $73.52. A further rise could target $75, while on the downside, support lies at $70 and $68.
Read the full article here: https://www.finextra.com/blogposting/26941/oil-surges-as-iran-strikes-israel-are-we-headed-for-unprecedented-highs
TradingView integration now on Deriv X: Enhanced trading capabilities for CFDs traders
Deriv has successfully integrated TradingView into its Deriv X platform, marking a significant enhancement in its trading offerings.
Redefining the TradingView broker experience
Deriv has successfully integrated TradingView into its Deriv X platform, marking a significant enhancement in its trading offerings. This integration brings advanced charting tools and real-time market data directly to traders, enabling more informed and strategic trading decisions.
The TradingView integration on Deriv X offers users access to a comprehensive suite of features, including:
- Advanced charting capabilities with over 100 pre-built indicators
- 12 customisable chart types for detailed technical analysis
- 110+ smart drawing tools for precise chart annotations
- Real-time alerts to keep you on top of market movements
- Chart settings with their highly flexible styling.
This new feature set allows traders to conduct in-depth technical and financial analysis across a wide range of assets, including forex, stocks, indices, commodities, cryptocurrencies, derived indices, and ETFs.
The TradingView feature is available on desktop and accessible via tablets and other portable devices, ensuring seamless access across devices. Importantly, this integration comes at no additional cost to traders, maintaining Deriv's commitment to value-driven services.
How to start trading with TradingView on Deriv X
To access TradingView on Deriv X, follow these steps:
1. Sign up or log in to your Deriv account.
2. Navigate to Trader's Hub and select 'Get' under the Deriv X section.
3. Create a Deriv X account and password.
4. Access the TradingView chart under the 'My Trading Account' tab.
This integration is compatible with both demo and live trading accounts, allowing users to practice strategies on the demo account risk-free before engaging in live markets.
This move is another sign of Deriv’s commitment to bringing you advanced tools and technologies to support your trading journey.
Are you ready to make the most of it? Launch Trader's Hub now!
Gold holds firmly above $2600, clear path to $3,000?
Gold continues to trade above the $2,600 mark, hitting new highs at $2,635.05 during Tuesday’s Asian session, as investors anticipate further federal reserve rate cuts.
Gold continues to trade above the $2,600 mark, hitting new highs at $2,635.05 during Tuesday’s Asian session, as investors anticipate further federal reserve rate cuts. Economic concerns and geopolitical tensions are bolstering demand for the yellow metal as a safe-haven asset.
Monetary influence: With Fed officials signalling smaller rate cuts in upcoming meetings, gold remains attractive compared to yield-bearing assets. Strong central bank buying and rising demand from tech industries further support the bullish outlook for gold.
Technical outlook: Analysts note that Gold is holding steady at $2,628, with upward momentum pointing towards the next target of $2,700. Immediate support lies at $2,580 and $2,550. If geopolitical risks and rate cuts continue, gold may find a clear path to the $3,000 milestone.
Read the full article here: https://www.finextra.com/blogposting/26867/gold-holds-firmly-above-2600-clear-path-to-3000
Bitcoin surges past 60K, will FOMC meeting and US politics cause more volatility?
Bitcoin surged to $61,337 on Tuesday, its largest intraday gain since early August, as speculation grew that the Federal Open Market Committee (FOMC) could cut interest rates by 50 basis points in its Wednesday meeting.
Bitcoin surged to $61,337 on Tuesday, its largest intraday gain since early August, as speculation grew that the Federal Open Market Committee (FOMC) could cut interest rates by 50 basis points in its Wednesday meeting. The CME FedWatch Tool shows a 62.0% chance of a 50-basis-point cut, up from 50.0% a day earlier, while the odds of a smaller 25-basis-point cut are at 38.0%, according to FXStreet analyst Akhtar Faruqui.
A 25-basis-point cut would be the biggest surprise from the Fed since 2008, and a 50-basis-point cut would be the largest unexpected move since 2009, per Kobeissi Letter’s analysis.
The Fed rate decision is vital because Bitcoin and other cryptocurrencies, like tech stocks, have historically benefited from low interest rates as "risk-on" assets, known for their volatility. This can be partly explained by the increasing correlation between Bitcoin and the S&P 500.
According to K33 Research, the 30-day correlation between Bitcoin and the S&P 500 is now at levels not seen since October 2022.
This means that cryptos have become increasingly sensitive to Fed policy, which is why the crypto market is why Wednesday's Fed decision could cause significant volatility for BTC. Lower rates typically boost cryptos like BTC by encouraging higher-risk, higher-reward opportunities.
Beyond the fed rate decision, analysts foresee Bitcoin's volatility rising as the U.S. election approaches, with Kamala Harris and Donald Trump in a closely contested race.
Bitcoin price as we build up to US polls
Analysts foresee Former President Trump’s shift toward supporting the cryptocurrency sector could make Bitcoin prices more sensitive to his campaign’s progress. His team has actively targeted crypto enthusiasts, promising to turn the U.S. into the “crypto capital of the world.” If his campaign gains momentum, market optimism could lift Bitcoin, as investors view his policies as favourable for the industry.
Trump's acceptance of crypto donations and pro-crypto stance has already fueled speculation of a “Trump trade,” where his electoral gains drive Bitcoin higher. However, the path to election day remains uncertain. Shifts in polling or debate performances could introduce short-term volatility, creating opportunities for traders.
On the other hand, Vice President Harris has yet to make her position on cryptocurrency explicitly clear, though her campaign has engaged with industry stakeholders. Harris’ presidency might be perceived as a continuation of the Biden administration’s cautious approach to crypto, which included tighter regulatory scrutiny. Her administration is expected to introduce anxiety among crypto investors, especially startups and smaller players in the market, who worry that further cryptocurrency regulation could slow innovation and limit the industry's growth.
However, concerns about a Harris presidency driving Bitcoin lower might be overstated. Some experts argue that Bitcoin’s global nature and increasing institutional adoption will ensure its resilience, regardless of who wins the election. With Harris showing signs of a more engaged stance toward crypto, there’s potential for clearer regulations, which could provide much-needed stability for the sector.
Market sentiment and technical outlook
In recent months, Bitcoin’s price has largely traded within a range of $55,000 to $70,000, with macroeconomic data and political news contributing to price swings. While the election cycle has added a new layer of complexity, Bitcoin’s price is still heavily influenced by broader economic trends such as inflation, interest rates, and institutional adoption.
The recent debate between Harris and Trump saw Bitcoin briefly dip by 3%, though this was more due to interest rate updates from Japan and U.S. inflation data rather than the debate itself. Investors continue to watch these macroeconomic factors as well as Fed moves, knowing that both the election and monetary policy will play significant roles in shaping Bitcoin’s path forward.
At the time of writing, BTCUSD is holding just above $60,000 with a bearish bias on the daily chart, as prices stay below the 100-day moving average. However, RSI rising past the midline indicates rising momentum, possibly hinting at a further move up. Buyers could encounter resistance around the $60,800 price level, with a further move up likely to hold around the $62,000 psychological level. On the downside, prices could find support at the $59,000 and $58,000 support levels.
Deriv honoured with ‘Best Customer Service’ award at Global Forex Awards
Limassol, Cyprus, 13 September - Deriv, a globally recognised online trading company with a 25-year legacy of trust, innovation, and service, has been recognised for its exceptional customer support by winning the ‘Best Customer Service’ award at the prestigious Global Forex Awards.
- Deriv’s client-first philosophy earns the ‘Best Customer Service' award at the Global Forex Awards, coinciding with its 25th year of empowering traders.
- 2024 is the year of wins for Deriv, which earlier this year won the ‘Most Trusted Broker’, ‘Best Trading Experience’ (LATAM) 2024, and ‘Best Latam Region Broker’ awards.
Limassol, Cyprus, 13 September - Deriv, a globally recognised online trading company with a 25-year legacy of trust, innovation, and service, has been recognised for its exceptional customer support by winning the ‘Best Customer Service’ award at the prestigious Global Forex Awards.
The ‘Best Customer Service’ award, coinciding with Deriv’s 25th anniversary, recognises the company’s unwavering dedication to providing clients with a seamless and supportive experience, further emphasising their commitment to delivering an exceptional trading environment.
The company’s success over the past 25 years has been built on a foundation of client-centricity. Deriv offers exclusive educational resources, competitive trading conditions, user-friendly platforms, and innovative products. It has also consistently invested in building robust customer support via its Knowledgebase, Help Center, Live Chat, and WhatsApp service to ensure clients receive timely and effective support.
Rakshit Choudhary, co-CEO of Deriv commented: “Our customers are at the heart of everything we do. This recognition reflects the tireless efforts of our customer support team, who consistently exceed expectations in assisting our clients. As we mark 25 years of Deriv, we reaffirm our commitment to delivering exceptional customer service and empowering traders worldwide.”
“This prestigious recognition validates our commitment to innovation and reinforces the trust our clients place in us. It inspires us to continue pushing boundaries, setting new industry standards, and prioritising customer satisfaction in everything we do”, said Jeyavarthini Vairakanan, VP of Customer Experience.
Deriv’s customer support philosophy is built on integrity, responsiveness, and expertise. The company understands that trading can be complex and strives to make the journey as smooth as possible for its clients. Whether answering a simple query or resolving a more complicated matter, Deriv’s support team is always ready to assist and has invested in providing educational material and ebooks for traders of all levels.
Gold surges past $2500: Is more upside ahead?
Gold prices jumped past $2500 temporarily, in London trading, driven by anticipation of a US Federal reserve rate cut.
Gold prices jumped past $2500 temporarily, in London trading, driven by anticipation of a US Federal reserve rate cut. The market is now pricing in a 45% chance of a 50 basis points cut in September, up from 31% earlier in the week. This shift comes amid signs of a cooling U.S. economy and dovish comments from the San Francisco Fed President.
Political heat: The upcoming U.S. election is also influencing gold's rally. Kamala Harris's edge in the polls suggests continued fiscal stimulus and dovish monetary policy, which boosts gold's appeal. However, a Trump victory could introduce volatility, with his proposed tariffs and potential changes to Fed leadership impacting gold prices in unpredictable ways.
Technical picture: At the time of writing, analysts note that gold is touching highs of $2,515, potentially on the road to unprecedented levels. The daily chart shows a clear bullish bias, with prices surging past $2,500 and remaining well above the 100-day moving average. The RSI is also edging up sharply toward 60, reinforcing the bullish narrative. Buyers might face resistance around $2,518 and $2,520, while support levels are seen at $2,490 and $2,479 in case of a pullback.
Outlook: Market participants are closely watching Friday's Nonfarm Payrolls and wage inflation data, which could further solidify rate cut expectations and push gold even higher.
Read the full article here.
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