Category: Higher
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Dollar edges higher, euro slips after weak PMI data By Investing.com
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Investing.com – The U.S. dollar edged higher on Wednesday, while the euro fell after disappointing euro zone activity data pointed to more interest rate cuts by the European Central Bank in the future. At 05:25 ET (09:25 GMT), the dollar index, which tracks the greenback against a basket of six…
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BOC rate decision and lower oil price help to push USDCAD higher. Technicals more bullish.
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As the market awaits tomorrow’s Bank of Canada interest rate decision, the USD/CAD pair has been rising in anticipation of a rate cut. The pair has also been helped by a sharp drop in oil prices, which have pushed the price down by about 8% from its highs last Wednesday…
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Unit trusts pile into bank deposits on higher rates
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Collective investment schemes tripled their share of assets under management in the form of cash and demand deposits to Sh35.3 billion in the 12 months to March 2024, chasing high interest rates on deposits offered by liquidity-starved banks. New data on investment fund assets released by the Capital Markets Authority…
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Payroll taxes grow by single digit despite higher payslip deductions
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Taxes on salaries, wages and benefits paid to workers rose by single digits in the fiscal year just ended, underscoring the tightness of the labor market as decent formal jobs shrink amid a freeze in wage increases in most sectors. The Kenya Revenue Authority (KRA) generated net payroll taxes of…
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USDCAD higher on the day. Retail sales weak pave the way for a BOC rate cut next week.
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The USD/CAD pair rose during the North American session following weaker-than-expected retail sales earlier today. This, coupled with weaker CPI data earlier this week, paves the way for a Bank of Canada interest rate cut next week (Wednesday). Technically, the price broke a bearish trend line, maintaining the bullish trend…
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Mixed start for US stocks. Nasdaq and S&P higher. Dow lower.
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Major US indices continue to see changes in flows. Today, the Dow Jones and Russell 2000 are down. The S&P and Nasdaq are up. The current market snapshot shows: The Dow Jones Industrial Average fell -240 points, or -0.58%, to 40,425. The S&P 500 rose 3.14 points, or 0.05%, to…
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Dollar edges higher on safety bid; sterling drops after weak retail sales By Investing.com
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Investing.com – The U.S. dollar edged higher on Friday, heading for a positive week, while the British pound fell after weak retail sales data. At 04:10 ET (09:10 GMT), the dollar index, which tracks the greenback against a basket of six other currencies, was up 0.2% at 104.065, recovering from…
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Sterling needs more than higher UK rates to stay in the fast lane By Reuters
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(This story was corrected to change the company name to BNY from BNY Mellon (NYSE: BNY) in paragraph 7.) By Amanda Cooper and Dara Ranasinghe LONDON (Reuters) – Sterling hit a one-year high on Wednesday as investors sought higher returns as global interest rates began to fall, but strategists said…
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Dollar edges higher; euro, sterling weaker ahead of ECB meeting By Investing.com
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Investing.com – The U.S. dollar was slightly higher on Thursday, while the euro fell ahead of a European Central Bank meeting and sterling fell as wage growth in the U.K. slowed. At 04:00 ET (09:00 GMT), the dollar index, which tracks the greenback against a basket of six other currencies,…
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European shares open higher, ECB rate verdict on tap By Reuters
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(Reuters) – European shares opened higher on Thursday, led by energy shares, while investors also awaited the European Central Bank’s interest rate decision, due later in the day. Qatar’s main index rose 0.2% at 0711 GMT and was on track to end a three-session losing streak. Oil and gas helped…
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Daily FX Market Review: Cha-Ching! Retail Sales Surprise Sends Dollar Higher
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The US dollar rose for the second day in a row due to stronger-than-expected US retail sales. While overall retail sales remained unchanged.Retail sales excluding automobiles U.S. retail prices rose 0.4% in June. Yes, American shoppers were back on track in June, spending more on everything except cars. This rapid…
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Trump disagrees with a September Federal Reserve rate cut – wants rates higher for longer
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Trump is leading in the polls to win the November presidential election, and he has bad news for borrowers. He said in an interview with Bloomberg that he does not want the Federal Reserve to cut interest rates in September, as is the case now in the market. Trump wants…
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Bank of America Q2 profits drop as higher interest rates slow down lending
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NEW YORK (AFP) – Bank of America Corp reported a decline in second-quarter profit on Monday, as higher interest rates eroded the bank’s expenses, including its large consumer banking franchise. But like Goldman Sachs, Bank of America has seen a pickup in activity in its investment banking division, which has…
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Bank of America Q2 profits drop as higher interest rates slow down lending
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NEW YORK (AFP) – Bank of America Corp reported a decline in second-quarter profit on Monday, as higher interest rates eroded the bank’s expenses, including its large consumer banking franchise. But like Goldman Sachs, Bank of America has seen a pickup in activity in its investment banking division, which has…
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Dollar edges higher on Trump ascendancy; ECB meeting looms By Investing.com
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The U.S. dollar rose in early European trading on Tuesday, pulling away from a one-month low as traders digested the growing chance of former President Donald Trump returning to the White House as well as the possibility that the Federal Reserve could start cutting interest rates in September. At 05:20…
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Asian stocks drift higher as rate cut bets grow; China lags By Investing.com
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Most Asian stocks rose on Tuesday, tracking gains on Wall Street amid growing expectations of an interest rate cut in September, while Chinese markets lagged on concerns about a slowing economy and headwinds from U.S. politics. Regional markets took positive cues from a strong close on Wall Street, after dovish…
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Dollar steadies ahead of Powell’s speech; euro edges higher By Investing.com
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The US dollar steadied in early European trading on Monday, giving up some of the gains it made after the assassination attempt on former US President Donald Trump over the weekend, ahead of comments from Federal Reserve Chairman Jerome Powell. At 05:45 ET (09:45 GMT), the dollar index, which tracks…
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Rising Bullish Momentum, Will Prices Go Higher?
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Bitcoin price started to rise strongly and broke the resistance level of $62,000. Bitcoin is showing positive signs and may rise towards the level of $63,200. Bitcoin gained bullish momentum above the $60,500 resistance area. The price is trading above the $61,500 level and the 100-hour simple moving average. A…