Category: August
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Monthly UK jobs market report showed a significant slowdown in August
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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Economic calendar in Asia Monday, September 9, 2024 – Chinese inflation data for August
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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Israel’s forex reserves hit record high in August
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The increase was mainly due to a revaluation process that increased reserves by about $4.243 billion, the Bank of Israel reported. Israel’s foreign exchange reserves at the end of August 2024 reached an all-time high of $217.377 billion, an increase of $3.743 billion over their level at the end of…
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China’s central bank didn’t buy any gold in August
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Gold monthly China’s central bank did not announce any gold purchases in August, saying reserves remained at 72.80 million troy ounces. Announced purchases stopped in May after several months of accumulation. Reports later suggested that the People’s Bank of China had become price sensitive. In February, the People’s Bank of…
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USDJPY moves lower to test the August low and finds support buyers.
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The USD/JPY pair saw bullish and bearish swings following the US jobs report and subsequent market volatility. The decline in US stocks and lower yields may have had an impact, and sellers pushed the price lower. Technically, today’s low was 141.75, 10 times higher than the low from August 5…
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U.S. August Jobs Report: Mixed Signals Keep Fed on Track for Measured Rate Cut
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The U.S. labor market showed signs of slowing in August, with job growth slowing but remaining positive, paving the way for the Federal Reserve to take a measured approach to cutting interest rates later this month. The Bureau of Labor Statistics reported today that total nonfarm payrolls rose by 142,000…
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U.S. August Jobs Report: Mixed Signals Keep Fed on Track for Measured Rate Cut
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The U.S. labor market showed signs of slowing in August, with job growth slowing but remaining positive, paving the way for the Federal Reserve to take a measured approach to cutting interest rates later this month. The Bureau of Labor Statistics reported today that total nonfarm payrolls rose by 142,000…
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Preview: Why August non-farm payrolls frequently disappoint
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Consensus estimate: +160K vs. +175K previously (range: +100K to +246K) July was +114k Special consensus +139k vs. +148k previously Unemployment rate estimated at 4.2% vs. 4.3% previously Previous participation rate 62.6% Previous underemployment U6 7.8% v Average hourly earnings on an annual basis expected +3.7% vs. +3.7% previously Average hourly…
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UK August construction PMI 53.6 vs 54.9 expected
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The reading is slightly lower than in July but still looks good. New order growth remains strong while housing activity rebounded to its fastest pace since September 2022. Commercial activity remains the best performing sector but all sectors – including civil engineering – are growing, so this roughly sums up…
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U.S. August ISM Manufacturing PMI Remained in Contraction Despite Uptick in Prices
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The US ISM manufacturing PMI for August came in at 47.2, up from the previous month’s reading of 46.8 but below the consensus of 47.5, reflecting a slowdown in the pace of manufacturing contraction. The report’s components revealed that the price index rose from 52.9 to 54.0, while the employment…
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Stocks Tumble Most Since August Rout, Oil Slips: Markets Wrap
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(Bloomberg) — Asian stocks fell the most since Aug. 5, tracking a selloff in their U.S. counterparts driven by a sharp drop in Nvidia Corp. Most Read from Bloomberg Shares of Asian chipmakers fell amid renewed concerns about the AI craze, dragging the regional stock index down more than 2%.…
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New Zealand data – ANZ Commodity Price Index, August 2024: +2.1% m/m (prior -1.7%)
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For the New Zealand dollar, the index rose 1.5% on a monthly basis as the NZD Trade Weighted Index fell 0.7%. As part of this report, ANZ covers global shipping rates: Global freight rates remain high as ships continue to avoid the Suez Canal due to ongoing tensions in the…
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Asia to Track Worst US Selloff Since August Crash: Markets Wrap
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Breadcrumbs Path Links PMN Business Asian stocks were set for losses after U.S. indexes posted their worst day since the Aug. 5 market crash, as concerns over growth and monetary policy combined to burn through riskier assets. Article author: Bloomberg News Rob Verdonk Published on September 03, 2024 • Read…
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India underperformed EM in August; defensive sectors outperformed By Investing.com
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Investing.com – In August 2024, the Indian stock market saw mixed performance, with the MSCI India Index returning a positive 0.9%. However, despite the gain, the index underperformed the emerging markets index by about 0.5 percentage points, putting India at 15th out of 24 emerging markets, Morgan Stanley analysts said…
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India underperformed EM in August; defensive sectors outperformed By Investing.com
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Investing.com – In August 2024, the Indian stock market saw mixed performance, with the MSCI India Index returning a positive 0.9%. However, despite the gain, the index underperformed the emerging markets index by about 0.5 percentage points, putting India at 15th out of 24 emerging markets, Morgan Stanley analysts said…
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UK data – British Retail Consortium (BRC) total sales in August, the strongest since March
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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The August ISM manufacturing index is due on Tuesday
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ISM Manufacturing US markets are closed on Monday for Labor Day but will be back in action on Tuesday with some important economic data. The highlight is the August ISM Manufacturing Index at 10 a.m. ET. In July, the survey results were disappointing, falling to 46.8 points compared to the…
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DEX volume falls in August
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The volume of cryptocurrencies traded on decentralized exchanges declined in August. according to Davey’s CallDEXs handled over $181 billion worth of cryptocurrencies in August, down from $198 billion in July. Monthly activity on DEX platforms peaked in March when they handled over $260 billion as most cryptocurrencies surged. Ethereum (ETH)…
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China Caixin Manufacturing PMI August 2024: 50.4 (expected 50.0, prior 49.8)
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Over the weekend, we got the official PMIs: China Manufacturing PMI for August 49.1 (49.5 expected), Services 50.3 (50.0 expected) More details: The Caixin S&P Global Manufacturing Purchasing Managers’ Index was much better, at 50.4. From the report, in brief: Demand rose as total new orders resumed growth, with demand…
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Australia August Manufacturing PMI 48.5 (prior 47.5)
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Australia – Judo Bank/S&P Global Manufacturing PMI for August 2024, comes in at three-month high of 48.5 Previous 47.5 Quick read here: Australia PMI Flash August: Manufacturing 48.7 (previous 47.5) Services 52.2 (previous 50.4) Comment on the report, in summary: Not a manufacturing recession, but a prolonged soft landing. Capacity…