Category: Cut
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Jobs Report, ECB Rate Cut Deliver Double Whammy
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Friday dealt a double blow to the Bitcoin market, exposing the cryptocurrency’s sensitivity to the ever-shifting sands of the global economy. Price of digital assets It fell below $70,000 After the confusing US jobs report came as a surprise Reducing the interest rate By the European Central Bank (ECB). Leading…
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UK Wage and Price Growth Set to Slow, Bolstering Case for Interest Rate Cut
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UK businesses plan to ease pay and price increases over the next year, paving the way for interest rate cuts this summer. This trend was highlighted in the latest poll conducted by the Bank of England’s decision-making committee. According to the survey, companies intend to increase wages by 4.1 percent…
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Will ECB Rate Cut Fuel Bitcoin Rally?
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Bitcoin prices are set to rise following the European Central Bank’s (ECB) decision to initiate its first decision Reducing the interest rate In five years yesterday. A unanimous vote by all 20 national representatives resulted in a 0.25% cut in interest rates, marking a major shift in monetary policy for…
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Vail Resorts shares target cut by Truist on revised EBITDA forecast By Investing.com
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On Friday, Truist Securities revised its outlook on Vail Resorts (NYSE:) stock, lowering its price target to $250 from $265 previously while maintaining a Buy rating on the stock. The review follows the company’s third-quarter results, which resulted in a change in the company’s forecast for the resort operator’s future…
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Dollar flat ahead of key payrolls report; euro steady after ECB cut By Investing.com
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Investing.com – The US dollar traded largely unchanged in early European trade on Friday, as traders awaited the release of key US employment data, while the euro stabilized after a historic interest rate cut by the European Central Bank. At 05:00 EST (09:00 GMT), the dollar index, which tracks the…
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ECB Lowered Interest Rates by 0.25% as Expected in “Hawkish Cut”
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As expected, the European Central Bank cut interest rates by 25 basis points, but surprisingly dampened the prospects for further easing soon. Policy makers had a near unanimous vote to cut the deposit rate to 3.75% and the key refinancing rate to 4.25% as one dissenter (Holtzmann) wanted to keep…
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ANZ expect the first Reserve Bank of New Zealand rate cut in February 2025 (prior May ’25)
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Reserve Bank of New Zealand forecasts from ANZ in New Zealand. Briefly: We have revised our forecast for the official cash rate (OCR) and now expect the first OCR cut to come in February 2025, rather than May. Domestic inflation… We expect that there will be tangible progress around the…
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World stocks shine after cautious ECB rate cut By Reuters
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Written by Mark Jones and Koh Gui Cheng NEW YORK/LONDON (Reuters) – Global stocks hit all-time highs and the euro rose on Thursday after the European Central Bank cut interest rates for the first time in nearly five years, while signaling that further moves may take some time. Policymakers at…
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Steady euro takes ECB rate cut in stride By Reuters
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Written by Alden Bentley, Alun John and Ray Wee NEW YORK/LONDON/SINGAPORE (Reuters) – The euro fluctuated in a narrow range on Thursday after the European Central Bank cut interest rates from record high levels after months of anticipation, rising and then falling briefly with the results of the European Central…
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BoC rate cut likely to be followed by more in 2H24 By Investing.com
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Investing.com – The Bank of Canada (BoC) on Wednesday cut interest rates by 25 basis points. The impact on the Canadian dollar was minimal and brief, which ING analysts attribute to market expectations of a 20 basis point cut before the announcement. The Bank of Canada emphasized its data-driven approach…
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Asia FX advances as rate cut bets put dollar near 2-mth low By Investing.com
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Investing.com — Most Asian currencies rose on Thursday, tracking dollar weakness as soft employment data continued to flow, raising bets that the Federal Reserve will start cutting interest rates in the coming months. The US currency hovered just above its lowest level in two months, and remained weak as expectations…
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BOC Cut Its Rates to 4.75% in June and Hinted at Future Rate Cuts
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As expected, the Bank of Canada (BOC) cut interest rates by 25 basis points to 4.75% in June and became the first G7 bank to cut interest rates in four years. In the official statement, the Bank of Canada explained that preferred measures of core inflation have slowed and that…
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Crude oil bounces as Fed rate cut hopes outrank demand worries (NYSEARCA:USO)
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Slavko Sereda/iStock via Getty Images Crude oil futures ended a five-session losing streak on Wednesday, as renewed hopes for a Federal Reserve interest rate cut in September outweighed concerns about demand after data showed a build in US crude oil and fuel inventories. US Treasuries rose on Wednesday afterward Private…
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Bayer’s $2.25B Roundup verdict cut to $400M by Pennsylvania judge
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Scott Olson/Getty Images News Philadelphia courthouse on Tuesday Reduced judgment by $2.25 billion v. Bayer (OTCPK:BAYRY) (OTCPK:BAYZF) for $400 million against a man who said he developed cancer as a result of exposure to the company’s weed killer. Owned by Bayer (OTCPK:BAYRY) (OTCPK:BAYZF) will now become Monsanto. He is required…
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Asia FX rangebound, dollar at 2-mth low amid rate cut watch By Investing.com
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Investing.com — Most Asian currencies remained range-bound on Tuesday, while the dollar hovered near two-month lows, as weak economic readings fueled expectations of an eventual interest rate cut by the Federal Reserve. But traders remain wary of risk-driven Asian markets, with key US employment data, due this week, set to…
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ECB rate cut should be positive for European equities By Investing.com
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Goldman Sachs analysts expect the European Central Bank to cut interest rates next week, a move expected to be positive for European stocks. The bank cites historical data and says European stocks typically perform well after interest rate cuts as financial conditions ease and investors become more optimistic about growth.…
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Asia FX steady as dollar drops amid rate cut speculation; Indian rupee surges By Investing.com
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Investing.com — Asian currencies were mostly flat on Monday, reversing some recent losses against the dollar after embedded inflation data raised expectations for interest rate cuts and sparked sharp declines in the US currency. The Indian rupee was a standout performer among its peers, rising sharply after exit polls for…
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Highlights for next week: Bank of Canada and ECB are expected to cut rates. US jobs report
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Two central banks meet next week and are expected to cut interest rates. The Bank of Canada will announce its interest rate decision at 9:45 a.m. on Wednesday. They are expected to reduce the interest rate to 4.75% from 5.0%. The last policy change was in July 2023 when they…
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ECB’s Panetta adds to the chorus for a June a rate cut – “general consensus has emerged”
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As Governor of the Bank of Italy, Fabio Panetta is also a member of the Governing Council of the European Central Bank. On Saturday, he spoke at a press conference at the end of the G7 finance leaders’ meeting, saying he saw “a fairly general consensus emerging about the possibility…
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Asia FX nurses losses as dollar hits 10-day high on easing rate cut bets By Investing.com
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Investing.com — Most Asian currencies fell on Friday and suffered sharp losses against the dollar, as hawkish signals on inflation and interest rates led traders to price in expectations of interest rate cuts in 2024. Sentiment towards Asian markets was also shaken by signs of a renewed trade war between…