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Curry is the CEO of Thirty Ink, which generated $174 million in revenue last year, and all of its business units are profitable, the company told CNBC Sport.

The new group will help develop an agentic AI “framework” for use in its robotics operations, an application often referred to as “physical AI.”

The lack of changes in the macro picture and the waiting for the key US data has caused the bullish momentum to wane recently. Growth
expectations remain positive and that should keep supporting bitcoin in the bigger picture.

The
only risk I see ahead for risk assets is a more hawkish repricing in
interest rate expectations if inflation worries increase. This
repricing might trigger a bigger pullback in bitcoin and the stock
market in the short-term, although the uptrend should remain intact.

The economic data is now back in focus, especially on the inflation side. We have three key events in the next couple of weeks with the NFP report tomorrow, the US CPI next week and the FOMC decision the week after.

On the 4 hour chart, we can see that bitcoin broke below the key trendline, and after a retest, continued lower towards the 102,127 level. From a risk management perspective, that level would offer a nice risk to reward setup for the buyers to position for new all-time highs. For now, we are consolidating below the newly created resistance aroudn the 106,800 level.

On the 1 hour chart, we can see that we are compressing between two trendlines. The buyers will likely continue to lean on the upward trendline to keep pushing into new highs and increase the bullish bets on the break above the downward trendline. The sellers, on the other hand, will continue to lean on the downward trendline and increase the bearish bets on the break of the upward trendline.

This article was written by Giuseppe Dellamotta at www.forexlive.com.

Hurricane season began on June 1. Now is the time to take a look at your homeowners insurance policy and make sure you’re well covered.

• Federal Reserve’s Kugler and Harker to speak on economy & policy Thursday
• China Securities Journal says PBOC may cut RRR to ensure reasonable liquidity in 2h25
• Bank of England Monetary Policy Committee member Megan Greene speaks Thursday
• China Caixin Services PMI (May) 51.1 (prior 50.7)
• Australian April goods exports -2.4% m/m (prior +7.6%)
• More on: US auto suppliers urge swift response to China’s rare earth export curbs
• PBOC sets USD/ CNY mid-point today at 7.1865 (vs. estimate at 7.1762)
• Amazon prepares to test humanoid robots for delivering packages
• Ukraine and the US are working to launch a joint minerals fund by the end of the year
• US auto group urge “immediate and decisive action” on access to Chinese rare earths
• Japan April inflation adjusted wages -1.8% y/y, down for a fourth month
• Fed’s Kashkari says the labour market is showing some signs of slowing down
• RBC says the USD ‘remains extremely overvalued’, ‘much more weakness still lies ahead’
• Czech central bank board member prefers to leave rates on hold at June meeting
• Musk’s opposition is ‘one disagreement’ in an otherwise harmonious relationship
• TD add another RBA 2025 interest rate cut to their forecast: 25bp cut in August, November
• Deutsche Bank is maintaining its call for a 1.50% ECB terminal rate, but notes upside risk
• Saudi Arabia pushing OPEC+ for a faster pace of oil production increases in coming months
• ICYMI: Saudi Arabia lowered some July price of crude for Asia, raised for Northwest Europe
• Forexlive Americas FX news wrap: US dollar falls after soft ADP and ISM data
• Trade ideas thread – Thursday, 5 June, insightful charts, technical analysis, ideas

Major currencies traded in narrow ranges during the Asian session, with light news flow and the focus on Japanese wage data and China’s Caixin Services PMI.

In Japan, wages rose year-on-year in April, with base pay recording its fastest growth in four months. However, high inflation continued to erode household purchasing power, with real wages falling for the fourth straight month. The ongoing decline in inflation-adjusted earnings is another complication the Bank of Japan faces in its plans to normalise policy.

China’s Caixin/S&P Global Services PMI for May rose to 51.1 from 50.7 in April, marking 29 consecutive months of expansion since January 2023. The print slightly beat expectations (51.0), with improved domestic demand and business confidence. However, foreign demand slipped into contraction for the first time this year. The Composite PMI dropped to 49.6—its lowest since December 2022—reflecting the drag from earlier-released weak manufacturing data.

FX markets remained subdued, with traders now turning attention to the upcoming European Central Bank decision, where a 25bp rate cut is widely expected.

Decision due from the ECB at 1215 GMT/0815 US Eastern time. Lagarde’s press conference follows a half hour later.

• This snapshot from the ForexLive economic data calendar, access it here.
• The times in the left-most column are GMT.
• The numbers in the right-most column are the ‘prior’ (previous month/quarter as the case may be) result. The number in the column next to that, where there is a number, is the consensus median expected.

This article was written by Eamonn Sheridan at www.forexlive.com.

A slew of major global banks are under fresh pressure to trim costs against the backdrop of deteriorating global economic outlook.

Every weekday, the Investing Club releases the Homestretch; an actionable afternoon update just in time for the last hour of trading.

The blitz involved more than 100 jurisdictions and over 30 retailers including Home Depot, Macy’s, Target, Ulta Beauty, Walgreens, Kroger and Meijer.

Merz will aim to strengthen the Germany-U.S. relationship, as well as talk about trade and security matters.