Category: market
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Dollar stabilizes after Powell speech; labor market data in focus By Investing.com
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Investing.com – The U.S. dollar steadied on Thursday after falling sharply overnight following Federal Reserve Chairman Jerome Powell ruling out any rate hikes, while the Japanese yen was volatile amid talk of intervention. At 06:00 EST (10:00 GMT), the dollar index, which tracks the greenback against a basket of six…
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Daily Broad Market Recap – May 1, 2024
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Financial markets witnessed a mixed performance in the past trading sessions, as there were a lot of factors at play even before the announcement of the long-awaited FOMC decision. Read on to find out how it all happened! Titles: The final S&P Global Japan manufacturing PMI for April fell from…
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Senator Lummis Challenges US Crackdown On Crypto Market, Vows To Protect Investor’s Rights
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In the face of increasing global regulatory pressure on the cryptocurrency industry, the Biden administration’s intensified crackdown and actions by regulators have prompted Senator Cynthia Lummis to issue a strong statement against the US government’s stance on the industry. Senator Lummis, a prominent supporter of Bitcoin and the cryptocurrency market…
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Dollar/yen nosesdives again as market watches for BOJ intervention By Reuters
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(Reuters) – The dollar fell against the yen late Wednesday afternoon, falling further from 34-year highs two days after traders said Japanese authorities were buying yen to support their currency, which has fallen 11% this year. The USD/JPY suddenly fell more than 3% from its levels late Tuesday, trading as…
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Mulberry Faces Sales Decline Amidst Luxury Market Slowdown
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Mulberry, the British luxury brand known for its exquisite leather handbags, faced a 4% decline in annual sales, reflecting broader trends of lower spending among affluent consumers. Despite growth in international markets, particularly in the US, the company faces challenges in the UK and Asia, reflecting the prevailing decline in…
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Daily Broad Market Recap – April 30, 2024
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It was a good day for the dollar to rise, with the greenback seeing a steady rise across the board, even before the high-level US reports came out. But how did the rest of the financial markets perform? Titles: China official manufacturing PMI for April: 50.4 (50.3 expected, 50.8 previously)…
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Top Crypto Prices Crash As FOMC Nears, Traders Divest Into New Altcoins Set To Hit Market
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Cryptocurrency prices are once again facing heavy losses as the Federal Open Market Committee (FOMC) meeting approaches. A collapse in cryptocurrency prices is expected due to the upcoming Federal Reserve monetary policy meeting. Bitcoin’s price corrected 2% to start the week, and is trading at $62,400 at press time. Ethereum,…
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Daily Broad Market Recap – April 29, 2024
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The market holiday in Japan and the lack of verbal intervention from Japanese officials weren’t enough to stop the yen from making big moves! Here’s how it all went down. Headlines: Major city in southwest China (Chengdu) removed home-buying curbs to support property sector Germany preliminary CPI for April: 0.5%…