IBM and HSBC are developing cognitive intelligence technology that can be used to boost the success of financial services, freeing up staff time and allowing for more innovation.
The solution, which is already in use in Hong Kong and the UAE, uses IBM robotics technology to analyse documents, digitising and extracting the relevant data before feeding it into HSBC’s transaction processing systems.
A month ago, a single Bitcoin was worth around $2,000. It has doubled in value since then. The price of bitcoin broke through $4,000 on Sunday, a new record, and has largely stayed above that level since, according to digital currency news site CoinDesk.
The dramatic price rise marks the latest milestone in bitcoin’s stellar growth in 2017 – it’s already worth more than four times its value at the start of the year.
The Chicago Board Options Exchange (CBOE) has partnered with Gemini, the bitcoin exchange backed by investors Cameron and Tyler Winklevoss, as part of a bid to launch cryptocurrency derivatives trading.
According to the Wall Street Journal, the agreement will find the CBOE leveraging Gemini’s data for the launch of dedicated product listings in 2017. Opened to traders in 2015, Gemini is a New York-based exchange offering bitcoin and ether markets, as well as daily auctions of the cryptocurrencies.
A new digital currency called "bitcoin cash" (BCC), created by the splitting of the bitcoin blockchain, is rapidly rising in price despite lacking crucial support from parts of the cryptocurrency community. Bitcoin cash has secured its place as a top cryptocurrency within a day of entering the marketplace.
According to Coinmarketcap.com, the cryptocurrency is trading at about $490 a coin, and its market cap now stands above $8 billion. As such, it is the third-largest cryptocurrency by market cap, surpassing big-name coins such as Ripple ($6.7 billion) and Litecoin ($2.2 billion).
We expect some consolidation into August for Equities. Indeed, Risk/Reward seems momentarily stretched on the S&P500 Index, while the EuroStoxx 600 could be eying a second leg down into August. Following that, these trends should resume up possibly from late August / early September into October.
On Thursday, the US Dollar was driven by bulls that pushed the given currency through the 100- and 55-hour SMAs and the monthly PP. Nevertheless, a resistance cluster formed by the weekly PP and the 200-hour SMA proved to be a solid upper limit that reversed the rate down to a relatively similar level as on Thursday morning. The failure to reach the upper boundary of the symmetrical triangle indicates that this pattern may not be strong enough any longer to confine the pair in its bounds. Thus, it is quite likely that the current momentum downwards is to persist until the weekly S1 at 110.48, possibly. Meanwhile, the upper limit could be the 100-hour SMA and the monthly PP or in case of solid upside risks resulting from US fundamentals -even the aforementioned 200-hour SMA circa 111.70.
Howard Marks, one of the most respected value investors out there, starkly warned his clients to avoid high-flying digital currencies.
Marks, who runs Oaktree Capital and manages around $99 billion in assets, wrote in the investor letter Wednesday. "In my view, digital currencies are nothing but an unfounded fad (or perhaps even a pyramid scheme), based on a willingness to ascribe value to something that has little or none beyond what people will pay for it."
The CBOE Volatility Index .VIX, better known as the VIX and the most widely followed barometer of expected near-term stock market volatility, was down 0.24 points to 9.19, after earlier falling to 9.04, its lowest since December 1993. The VIX has never ended a session under 9 in its history but is on pace to log a close near that level today.
The VIX is derived from the price of S&P 500 Index .SPX options. A low VIX reading typically indicates a bullish outlook for stocks.
