Author: News Room

By Suzanne McGee (Reuters) – The fervor around artificial intelligence has sparked a gold rush into AI-themed ETFs, as investors seek fresh ways to play the burgeoning technology following breathtaking rallies in market darlings such as Nvidia (NASDAQ:). The funds run the gamut from those offering a bouquet of the biggest AI winners to more esoteric themes such as robotics and sound generation. All told, the universe of AI-themed ETFs traded in the United States has soared to $6.88 billion as of the end of February from $2.55 billion a year earlier, Morningstar data showed. “It’s still so early in…

Reserve Bank of Australia (RBA) Governor Michele Bullock is speaking on the policy outlook at a press conference following the announcement of the March monetary policy decision on Tuesday. Bullock is responding to questions from the media, as part of a new reporting format for the central bank. Key quotes We are making progress in fight against inflation. Recent data suggest we are on right track. Keeping keen eye on employment numbers. Risks to outlook are finely balanced. War isnt yet won on inflation. Change statement language in response to data. Labour market still slightly on tight side. Board sees…

Ethereum price extended its decline below $3,500. ETH is showing a few bearish signs and there could be a drop toward the $3,200 support zone. Ethereum started a downside correction below the $3,550 zone. The price is trading below $3,550 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance at $3,520 on the hourly chart of ETH/USD (data feed via Kraken). The pair could resume its decline if it stays below the $3,520 and $3,550 resistance levels. Ethereum Price Breaks Support Ethereum price started a downside correction below the $3,720 and $3,650 levels,…

Federal Judge Aileen Cannon issued an order Monday for lawyers to submit instructions for a trial jury in former President Donald Trump’s classified documents case – signaling that the debate over whether Trump had the authority to keep documents from his White House could remain a central issue of the case, which could help him at trial. But – to the surprise and confusion of several legal experts on Monday – Cannon asked the attorneys in the case to consider how to incorporate into the trial the Presidential Records Act. The request is an unusual one that leads both sides into hypothetical, untrodden territory. Cannon asked both…

Russia is expanding its economic and trade ties with Cuba, per TASS.Russia has been pivoting to alternative markets in the face of Western sanctions.Cuba — which has been sanctioned by the US for decades — has been in an economic crisis since the COVID-19 pandemic. Russia has set its sights on broader economic and trade ties with Cuba.Over 100 Russian companies have started operations in Cuba over the past year, Dmitry Chernyshenko, a Russian deputy prime minister, said on Friday, according to TASS state news agency.The companies are involved in various sectors including heavy industry, energy, banking, agriculture, IT, and…

OpenAI CEO Sam Altman says he thought his former cofounder Elon Musk would have had “more empathy” for the AI company’s huge ambitions.”It wasn’t that long ago Elon was crazily talking about launching rockets when people were laughing at that thought, so I think he’d have more empathy for this,” Altman told podcaster Lex Fridman in the latest episode of his show, which aired on Monday.Altman referenced Musk’s spacefaring ambitions with his rocket company SpaceX, while discussing Musk’s lawsuit against OpenAI. On February 29, Musk filed a lawsuit the ChatGPT maker and Altman. In his lawsuit, Musk accused the company…

TOKYO (Reuters) – The yen weakened while share average swung between small gains and losses after the Bank of Japan on Tuesday announced an end to its long-running ultra-accommodative stimulus programmes, as widely expected. The central bank ended its negative short-term interest rate policy (NIRP) and yield curve controls (YCC), as well as dropping purchases of risky assets, including exchange-traded funds (ETFs). Local and international media, including Reuters, had been reporting over the past week of a likely end to most or all of the BOJ’s stimulus programmes at this policy meeting. The Nikkei was down 0.36% at 39,598.27, after…

SHANGHAI (Reuters) – A record-breaking rally in Chinese sovereign debt is hitting a fever pitch in another sign China’s financial system is low on confidence and overflowing with cash and bank deposits. Yields at the longer end of China’s bond market have been crunched to record lows by the weight of available money, and bankers say savings bonds are selling out almost instantly to retail investors who queue up outside branches before dawn. The moves are welcome for borrowers, especially the central government which is paying just 3% interest on 30-year debt. But they also illustrate the fragility of economic…

SINGAPORE (Reuters) – Oil prices edged down early on Tuesday after gaining in the previous trading session, due in part to the prospect of rising supply from Russia as well as the possibility of slower-than-expected downstream demand in sectors such as jet fuel. The futures contract for May delivery slipped 16 cents to $86.73 a barrel as at 0300 GMT, whereas that for U.S. West Texas Intermediate (WTI) fell 13 cents to $82.03. The WTI April contract, with expires tomorrow, fell 16 cents to $82.56. Both benchmarks reached four-month highs in the previous session, buoyed by lower crude exports from…

Gold price oscillates in a range and is influenced by a combination of diverging forces. Hawkish Fed expectations, elevated US bond yields and a bullish USD cap the upside. Geopolitical risks lend some support to the XAU/USD ahead of the key FOMC meeting. Gold price (XAU/USD) struggles to capitalize on the previous day’s bounce from the $2,145 region, or over a one-week low and oscillates in a range during the Asian session on Tuesday. The robust US consumer and producer inflation figures released last week fuelled speculations that the Federal Reserve (Fed) will stick to its higher-for-longer interest rates narrative.…