U.S. Treasury Secretary Scott Bessent to meet South Korea’s finance minister Choi next week to discuss trade issues
South Korea’s finance ministry with the announcement.
This article was written by Eamonn Sheridan at www.forexlive.com.
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US President Donald Trump launched a probe into the need for tariffs on critical minerals, the latest move in an escalating trade war that has targeted key sectors of the global economy, per Bloomberg.
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Gold price ended Tuesday’s session on a higher note due to traders buying the precious metals amid uncertainty over US President Donald Trump’s tariff plans, which has kept market participants on edge. The XAU/USD trades at $3,240 a troy ounce, gaining over 6.50%.
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Trump has launched a probe into the need for tariffs on critical minerals
China earlier:
This article was written by Eamonn Sheridan at www.forexlive.com.
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The EUR/USD pair trades in positive territory around 1.1285 during the early Asian session on Wednesday. The US Dollar (USD) currently trades near a three-year low against the Euro (EUR) as trade tensions remain well in place.
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According to the Wall Street Journal, which cited individuals familiar with the discussions, the US President Donald Trump administration plans to use ongoing tariff negotiations to pressure US trading partners to limit their dealings with China
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US chip equipment makers calculate Trump’s tariffs could cost them more than USD 1bln annually:
Info via Reuters
This article was written by Eamonn Sheridan at www.forexlive.com.
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Bank of Japan Governor Ueda sounding like the prospect of another BoJ rate hike is receding:
Bolding above is mine.
This article was written by Eamonn Sheridan at www.forexlive.com.
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The NZD/USD pair moved higher on Tuesday, seen trading near the 0.59 area ahead of the Asian session. The Kiwi continues to benefit from sustained buying interest, holding mid-range between the day’s lows and highs, and showing resilience despite broadly neutral oscillators.
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The Australian Dollar (AUD/USD) gave up its earlier strength on Tuesday, falling from session highs near 0.6340 to trade closer to the 0.6280 area during North American hours. The reversal came as the US Dollar Index (DXY) attempted a modest bounce off its three-year low near the 99.00 mark.
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US government has indefinitely banned Nvidia from selling H20 chips to China:
After hours trade in NVDA has the shares limit down.
This article was written by Eamonn Sheridan at www.forexlive.com.
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OpenAI is reportedly developing a social media
platform, a potential competitor to Musk’s X and Meta’s Instagram, that could
mark a major shift in the AI company’s expansion plans.
According to sources cited by CNBC and The Verge, OpenAI
has begun testing a prototype social feed powered by ChatGPT’s image-generation
tools.
The concept remains in early development, and it’s
unclear whether the final product will become a standalone social app or be
folded into the existing ChatGPT platform, which recently became the most
downloaded app worldwide.
SCOOP: OpenAI is working on its own X-like social network, according to multiple sources familiar with the matter. While the project is still in early stages, we’re told there’s an internal prototype focused on ChatGPT’s image generation that has a social feed. pic.twitter.com/xFvUD3Ovqp
— Kylie Robison (@kyliebytes) April 15, 2025
Altman vs. Musk, Again
The move signals a deepening of the long-running feud
between Altman and Musk, once co-founders of OpenAI. Their split has grown
increasingly public, especially since OpenAI pivoted from a nonprofit to a
for-profit model.
In February, Musk made a $97.4 billion bid to acquire OpenAI, an offer Altman quickly rejected with a snarky online response,
suggesting OpenAI might instead buy X for a tenth of that price.
no thank you but we will buy twitter for $9.74 billion if you want
— Sam Altman (@sama) February 10, 2025
If OpenAI proceeds with its social platform, it will
also tread directly into Meta’s territory. Meta is reportedly working on a new
app for its AI assistant that will include a social feed. When those plans surfaced earlier this year, Altman
hinted at retaliation with a post on X: “ok fine maybe we’ll do a social app.”
ok fine maybe we’ll do a social app https://t.co/663VkHN4qB
— Sam Altman (@sama) February 27, 2025
A Strategic Data Play
Beyond the power play, a social network would give
OpenAI access to fresh, user-generated data, something both Meta and Musk’s xAI
already heavily leverage to train AI models.
Nvidia: 2. OpenAI gets $300 billion valuation which a huge part is dependent upon getting more next gen Nvidia chips
— Jim Cramer (@jimcramer) April 1, 2025
The social prototype might never reach the public, but
its very existence points to OpenAI’s ambitions beyond chatbot technology. And
for Sam Altman, stepping into the social media space might be less about
joining the crowd and more about changing the game.
This article was written by Jared Kirui at www.financemagnates.com.
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