Category: Markets
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Yen flip-flops in volatile trading, keeping investors wary By Reuters
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Written by Amanda Cooper LONDON (Reuters) – The yen faced choppy trading on Thursday after a sharp fall the previous day in a volatile week as investors had to digest the unwinding of popular interest rate positions and how Japanese monetary policy might evolve. The yen swung between a 0.14%…
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The CHF is the strongest and the GBP is the weakest as the NA session begins
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As the North American session began, the Swiss Franc (and the Australian Dollar) were the strongest and the British Pound the weakest. The US Dollar was also weaker at the start of the US session. Yields fell on the day (but are still near their highs for the day) which…
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Global stocks fall and yen rises as volatility reigns By Reuters
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By Harry Robertson LONDON (Reuters) – European shares fell and U.S. stock futures fell on Thursday after choppy sessions in Asia and on Wall Street as investors struggled to find their footing in a turbulent week for markets. The yen and U.S. bonds rose as traders awaited weekly U.S. jobless…
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Yen shorts largely cleared; sell USD/JPY on rallies above 147
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Investing.com – The majority of short selling in the yen is likely to be liquidated quickly, according to UBS, which should reduce future volatility. The carry trade on the yen has been a major factor behind much of the market volatility recently, as the Bank of Japan’s decision to raise…
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Daily Broad Market Recap – August 7, 2024
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Risk aversion returned to financial markets mid-week, but crude oil still managed to make good gains. What’s up with that and how did the rest of the asset classes perform? Here’s a quick summary of the headlines and economic updates that impacted the markets: headlines: China’s trade surplus July: $84.7…
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Crude Oil Technical Analysis – Weak US data weighs on the market
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Basic Overview Crude oil prices fell sharply in the latter half of last week as some very weak US data came out, first the ISM manufacturing PMI and then the non-farm payrolls report. The market eventually rebounded on Monday and extended its gains yesterday, with the appointment of a new…
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Worst of market selloff might be over but hold on tight, Goldman says By Reuters
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SINGAPORE (Reuters) – After a turbulent week in global markets, the worst of the sell-off may be over but investors need to “keep a tight rein on big directional bets for now,” Tony Pasquarello, Goldman Sachs’ global head of hedge fund coverage, said. In a note to clients on Wednesday…
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Aussie surges on hawkish RBA, yen strengthens amid BOJ speculation By Investing.com
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Most Asian currencies rose on Thursday, with the Australian dollar making strong gains after Reserve Bank of Australia Governor Michelle Bullock said the bank would not hesitate to raise interest rates further to curb inflation. The Japanese yen also rose, steadying after falling in the previous session as data from…
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Chart Art: EUR/NZD Double Top Forming
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The EUR/NZD pair appears to have finished its uptrend, as the pair is forming a reversal pattern on the 4-hour time frame. Will we see confirmation soon? EUR/NZD currency pair on the 4-hour chart Chart by TradingView After two failed attempts to break the resistance at the key psychological level…
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Asian stocks fall as growth jitters persist, Nikkei rebound fades By Investing.com
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Most Asian stocks fell on Thursday as the recovery in Japanese markets stalled amid lingering concerns about slowing economic growth and higher interest rates, while technology stocks saw an extended decline. Regional markets got a negative boost from a weak session overnight on Wall Street, as the recovery from multi-month…
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RBI’s firm grip to keep rupee anchored in narrow range: Reuters poll By Reuters
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By Anant Chandak and Vivek Mishra BENGALURU (Reuters) – The outlook for the Indian rupee is little changed from last month as interventions by the Reserve Bank of India keep the currency, considered expensive compared to peers, in a narrow range, a Reuters poll of foreign exchange analysts showed. A…
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Daily Broad Market Recap – August 6, 2024
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A bit of calm has returned to the financial markets over the past few trading sessions, but we are still seeing significant movements between some major currencies and asset classes. Bitcoin saw a big rebound, closing up around 5% on the day while Treasury yields also made good gains. Here’s…
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BOJ Summary – one monetary policy board member suggested the neutral rate is at least 1%
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Summary of the Bank of Japan’s views at the monetary policy meeting on July 30-31 Many members see economic activity and prices developing in line with the BOJ’s expectations. Some see scope for raising “very low” interest rates, pointing to negative real interest rates at 25-year lows. Opinions divided on…
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Insurer Manulife’s second-quarter profit rises on strong Asia growth By Reuters
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(Reuters) – Canada’s Manolive Financial Inc reported better-than-expected quarterly profit on Wednesday, helped by a 40 percent rise in earnings from Asia, a region the insurer is betting on for growth. The Asia business, which includes operations in 12 markets and more than 100 banking partnerships, is among the insurer’s…
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USD/JPY can fall even further
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Investing.com stock has fallen sharply over the past four weeks, and Citi Research sees the pair as vulnerable to further selling over time. At 08:55 ET (12:55 GMT), the USD/JPY pair was up 1.8% at 146.88 yen, with the pair rebounding after Bank of Japan officials earlier on Wednesday downplayed…
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TA of the Day: Key Support Level in Sight for USD/CAD ?
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the Canadian Dollar (scoundrel) strengthened against the US dollar (American dollar), hit a two-week high as market volatility eased. As the turmoil fueled by yen-financed debt reductions and uncertainty over U.S. interest rate cuts eases, market participants are regaining confidence in the Canadian dollar. However, the Bank of Canada remains…
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Mnuchin says it’s time to kill the 20-year Treasury bond
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We haven’t heard much about Steve Mnuchin since the Trump administration ended, but the former Treasury Secretary and Hollywood financier is in the news today. He says the US should ditch the 20-year bonds he introduced. A look at today’s yield curve shows why: 10 years 3.95% 20 years 4.33%…
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Lumen Technologies shares extend AI-fueled surge after rosy cash-flow outlook By Reuters
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NEW YORK (Reuters) – Shares of Lumen Technologies Inc jumped 30 percent on Wednesday, extending gains from the previous session, after the telecom company raised its annual free cash flow outlook on demand tied to artificial intelligence. Lumen shares were trading at $6.54 a share after hitting an intraday high…
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Yen dives as BOJ plays down chance of hikes, soothing markets By Reuters
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By Hannah Lang and Harry Robertson NEW YORK/LONDON (Reuters) – The yen fell on Wednesday after a senior Bank of Japan official played down the chances of a near-term interest rate hike, calming investor concerns that any further rise in the Japanese currency could rattle global markets again. The yen…
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Chart Art: NZD/JPY’s Potential Pullback Resistance Area
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The NZD/JPY pair has recovered sharply this week after days of heavy losses! How high can the NZD/JPY pair go before the bears appear in the forex market again? We are heading into the daily time frame for key turning points to watch out for! Daily currency pair NZD/JPY Chart…