Microsoft x OpenAI 💪 Stocks advanced 📈 Oil inventories🚦Copper x China 🎢 EURUSD > 1.075💲

FlowBank's hand-curated fresh financial news [header_noDither] 11.01.2023 Good morning FlowBankers! Here's the latest market news, hand-curated by our research team. The Big Story [asd] Microsoft Corp (MSFT) is in discussions to invest $10 billion in OpenAI, the owner of ChatGPT, valuing the company at $29 billion. The information confirms the growing interest in the artificial intelligence business, whose chatbot has astounded both novices and professionals with its capacity to spout haikus, debug code, and respond to inquiries. [Start Trading](113/cXx8Z04/VWBWwH6Q7YgTW29GGKx4fkKtzW1k1H6J4VG3LfMhPPRy2-MK5V1-WJV7CgV0yW1lPnLb4qLV2XW2MqJ-y2DrSgqW7wsFN67DQZ_JW4Vpj1r3g6YGWW48S2mL5F4N4VW1c9q3P4Rjj26W1c4yJG52GZ6NW2FgLQz3XHVCMW96SVQl29Jh7SW1fS_RG93ZmXKW7JxgMj2l3pqCVltB396wp--ZVhqSrq5C0v-fW7PDPhD5XkhmfW3tzvyD8XYQB6W54cGl_2W0lCPN6bmbywQbrzxW3fKM1D2x-0RfW8gMn6q3M7gTxW1HQjHW9bqFjK3kbF1) Trader's Corner In focus • Oil is down 7% for the year but yet US energy stocks have already advanced 4% for the year amid an improving risk sentiment. Today traders will monitor US oil inventories for clues on the supply picture. • Copper is on fire since news that China is removing border controls and other Covid-related restrictions. The metal is up nearly 5% so far this week. Copper miners ETF (COPX) is up 10% so far this year. • Lastly, traders will keep an eye on EURUSD ahead of tomorrow's US CPI print. Yesterday, the pair failed to break above its Monday highs. But chances for another retest are high as traders continue betting on a softer US CPI print (Thursday). Economic data • US Crude oil inventories • China CPI Earnings • none Crypto • Crypto stocks advanced (Coinbase +13%, Marathon Digital +17%), helped by Bitcoin rising to a 3-weeks high and an improvement in the overall risk sentiment. • Coinbase is cutting about a fifth of its workforce as it looks to preserve cash during the crypto market downturn. Its CEO Brian Armstrong predicted that after FTX, there’s likely more “shoes to drop”. [Screenshot 2023-01-11 at 07.17.18] [Start Trading](113/cXx8Z04/VWBWwH6Q7YgTW29GGKx4fkKtzW1k1H6J4VG3LfMhPPRy2-MK5V1-WJV7CgG8PW3PT9__7ljFM_W5_XXNv7JH8hXW6vlC_T98wptNW8pR1513v2z75W8Tkr_b67fh-tW8TmxzJ59bLKjW1ZhygX1ZwJn2W9h5nW32M-_dQW8Qr2yN8f2Q7KVybdcy2MVjmqW6XTgp-84gfzpW8LfrhC52cLhqN7zs9RdDsxsRW19Cpff1bVnr5W5-W2QL31FvsDW78XK0z1Bm2LNW6J_hk84MFFD0W2hMsM65Nd2psW4c18g83w3FvTW96_V1V87_B8b36tX1) Market Recap Investors's mood was somewhat cautious, recalling Monday's drop towards the close. Uncertainty regarding the market-moving December CPI (Thursday) and bank earnings announcements (Friday) also weighed on sentiment. Meanwhile, small-caps (+0.9%) performed slightly better. Treasury rates rose significantly, with yields on the 2- and 10-year notes increasing by 8 and 11bps, respectively. Gold and the EUR added modest gains. And WTI, which still saw selling pressure, managed to close above $75. This morning, futures contracts are little changed. Gold is extending gains as the dollar weakens and oil prices are pointing downward. Chart Of the Day Oil prices rebounded after testing the 74 levels on WTI. Despite strong fundamentals, oil bulls' faith has been tested by bearish technicals so far, but should the current support level hold, technicals could start showing encouraging signs. [Screenshot 2023-01-10 at 10.59.59](113/cXx8Z04/VWBWwH6Q7YgTW29GGKx4fkKtzW1k1H6J4VG3LfMhPPRf2-MJQV1-WJV7CgVbtVVst4K3ZsyHwW1HCHzc1j1VrJW2VP3tm4XKg9BW2hsgwS4VXS3GW8GKV61932x6dW43ctRQ1wL0c1W6FdVSQ6wBY1SW8s8WpG5KdmT3W2ClwBc3ZtyWKW1vHfky7vRqG6W1ZM6wF8VwFKwW6LC89Z3w_qdTN1Jz-LlWsZD5W1_pvvv3qwKnKW6Z2mPL9gjKkrW77X_mY5CG6svW7Yd5_d27f7YHW8kR5HQ17bB5N2wL1) FlowBank Blog ChatGPT set to disrupt various industries [asd2](113/cXx8Z04/VWBWwH6Q7YgTW29GGKx4fkKtzW1k1H6J4VG3LfMhPPRf2-MJQV1-WJV7CgVxTW4ZGjVn8g749rW4Vlggt4-ClMgN6Z3TtbD35sXW81Sw8J6h1ks_W22cZg38S8dMBW1rhd8m4XK_VxW38LyL187p_DNW6FbGLY6Mf3-8W1HMK116pN5XWW6VrqHx6ljLC_N4ZZjKcxB5xhW11vGRP4tPCHnW2Fj9ww7gzVsvN3QY24dDqh6JVZdd9c69PlY4W38hT3N21jjZCN4KHX1t1ZT89Vt3h4s6wBlVb3jDS1) Since its release at the end of November, ChatGPT has gone viral, gaining its first million members in less than a week. Speculation over its ability to displace freelance writers and perhaps endanger Google's main search operation was spurred by its approximation of human discourse. Here is what you need to know. 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