Category: Cut
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Canadian dollar under pressure amid rate cut expectations By Investing.com
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Inavesting.com – The Canadian dollar has underperformed compared to other pro-cyclical currencies since the beginning of May, dragged down by its correlation to US economic data and interest rate expectations from the Federal Reserve. Market analysts expect a 25 basis point interest rate cut by the Bank of Canada in…
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Australia’s Telstra to axe up to 2,800 jobs by year-end to cut costs By Reuters
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(Reuters) – Australian telecommunications company Telstra (OTC:) said on Tuesday it would cut up to 2,800 jobs from its direct workforce by the end of this year, as part of its proposed measures to streamline operations and cut costs. Telstra said consultations on 377 of these roles would begin immediately,…
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US (dis?) inflation – Target to cut prices on another 5000 items
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US retailer Target has reduced prices on more than 1,500 popular products, effective Monday. It promises “thousands of additional price cuts” (up to 5,000 times) in the future. This is said to be in response to attracting “inflation-wary shoppers who are put off by rising prices”. Information comes through many…
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Asia FX weakens as dollar recovers amid waning rate cut cheer By Investing.com
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Investing.com — Most Asian currencies fell on Friday as the dollar regained some of recent losses after a series of Federal Reserve officials warned that bets on interest rate cuts may be premature. While the dollar is still on track to post some weekly losses, it was trading well above…
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ING anticipates EUR/GBP rise as BoE rate cut bets increase By Investing.com
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Broker ING flagged potential downside risks for the British pound, noting the currency’s recent decline from its peak against the euro. The sensitivity of the pound to the performance of US stocks has been highlighted as a contributing factor to its movement. The company also noted a decline in the…
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U.S. crude oil, natgas post back-to-back gains on supply data, rate cut hopes
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Slavko Sereda/iStock via Getty Images U.S. crude oil futures rose to their highest levels in a week on Thursday, extending gains from the previous session sparked by data showing slowing U.S. inflation and weekly storage data that pointed to a decline in domestic oil inventories. the The smaller-than-expected rise in…
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Dow hits 40,000 for the first time on Fed rate cut hopes
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The Dow Jones Industrial Average surpassed 40,000 points for the first time on Thursday as investors grew more confident that the stock market’s rally could continue on hopes that the Federal Reserve will begin cutting interest rates later this year. The oldest of Wall Street’s three major stock indexes has…
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UBS maintains RBA rate cut forecast, weighs in on AUD/USD By Investing.com
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UBS on Thursday provided insight into Australian Federal Treasurer Jim Chalmers’ third budget announcement, which announced a second successive surplus of A$9.3 billion. Despite this positive result, UBS highlighted a projected deficit of A$28.3 billion for the 2024-25 financial year, a wider figure than the Treasury’s previous forecast. The company…
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UBS raises EURSEK targets, cites Riksbank cut and inflation By Investing.com
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On Monday, UBS revised its stance on the Swedish Krona (SEK), adopting a moderately bearish outlook following the Riksbank’s recent decision to cut interest rates. The bank has revised its forecast for the exchange rate, and now expects it to reach 11.80 by the end of the second quarter, 11.90…
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Helb faces Sh3.7bn budget cut
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The Treasury has proposed cutting the Higher Education Loans Board (Helb) budget by Sh3.7 billion in the financial year starting July, which could affect thousands of loan beneficiaries. The Treasury is seeking to allocate Sh33.3 billion to HELP to fund thousands of needy students in universities and colleges in the…
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FX option expiries for 9 May 10am New York cut
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There are a couple to keep in mind on this day, as shown in wide. The first is the EUR/USD expiry range from 1.0745 to 1.0775. This will likely help prevent the price action from moving too far to the upside during the day. This is in addition to the…
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UR-Energy stock price target cut on first quarter performance By Investing.com
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On Wednesday, HC Wainwright revised its price target on shares of UR-Energy (NYSE:), a uranium mining company, to $3.30 from $3.40 previously, while maintaining a Buy rating on the stock. This change comes in the wake of the recent disclosure of the company’s financial performance for the first quarter of…
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Sweden breaks tradition to cut interest rates before the Fed but will it pay off?
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Sweden took the bold step of cutting interest rates, which surprised some analysts and marked a new phase in global monetary policy that could accelerate economic expansion or return countries including the United States to a more cautious approach. Riksbank Moved in Thursday morning He cut the base interest rate…
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Shutterstock share price target cut by Truist Securities on mixed quarterly results By Investing.com
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On Monday, Truist Securities revised its forecasts on… Stock struggle ,Inc. (NYSE:), a leading global provider of stock photography, stock footage, stock music and editing tools, by lowering its stock price target from $70.00 to $65.00. Despite the lower price target, the company maintained a Buy rating on the stock.…
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Dollar soft on renewed rate cut bets; yen starts week on back foot By Reuters
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By Samuel Indyk and Ankur Banerjee LONDON (Reuters) – The dollar fell slightly on Monday as a weak U.S. jobs report boosted bets that the Federal Reserve may cut interest rates this year, while the yen fell after suspected intervention last week sparked a wave of volatility. Last week, the…
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Greenback strength to persist on delayed Fed rate cut calls By Reuters
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Written by Sarobiya Ganguly BENGALURU (Reuters) – The US dollar’s rise will remain steady and may trade more strongly than expected in the coming months if policies from the Federal Reserve and other major central banks diverge, according to forex strategists polled by Reuters. The dollar has recovered from the…
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Okiya Omtatah in court to cut mobile connection charges
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Busia Senator Okiya Umtatah has moved to court seeking to overturn the Mobile Termination Rates (MTR) set by the Kenya Communications Authority (CA) last November, arguing that they are arbitrary and the highest in the region. The regulator set the mid-term price at Sh0.41 per minute on November 17, 2023,…