Category: Markets
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Here’s a forecast for a 25bp RBA rate hike next week – citing inflation not falling
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ING Bank’s response to today’s inflation data from Australia: If you want a reason to keep rates unchanged at the August 6 meeting, today’s core numbers somewhat support the “let’s give the economy the benefit of the doubt” argument. The decision taken in August is certainly more balanced today than…
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Samsung flags strong AI demand as profit soars on higher chip prices By Reuters
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By Joyce Lee and Heekyung Yang SEOUL (Reuters) – Samsung Electronics Co Ltd forecast strong demand for artificial intelligence-powered chips in the second half of this year, reporting a more than 15-fold increase in its second-quarter operating profit. “AI servers are expected to capture a larger share of the (memory)…
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Dollar’s reign to live on even as global monetary landscape evolves By Investing.com
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Investing.com — UBS Global Research maintains a positive outlook for the continued dominance of the U.S. dollar as the world’s primary reserve currency. Despite growing concerns about its sustainability, analysts say several factors will support the U.S. dollar’s preeminent status for years to come. While UBS points to the potential…
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FX Daily Review: US Dollar Gets a Lift from Positive Economic Vibes
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the U.S. dollar US stocks rose today, supported by positive economic data and optimism about the resilience of the US economy. The June Job Openings and Labor Turnover Survey (JOLTS) showed job openings Decreased from 8.23 million to 8.18 millionexceeding analysts’ expectations. The Federal Reserve closely monitors the JOLTS data…
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“Bank of Japan to outline bond taper plan, debate rate hike timing”
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Reuters Post a piece with a good explanation if you want another preview. previously: Bank of America expects BoJ rate hike today… see USD/JPY (finally) at 145 Bank of Japan Decision Day: Will Interest Rates Rise or Stay Steady? There was a leak overnight: Bank of Japan Discusses Raising Interest…
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CTS Corporation meets Q2 expectations, acquires SyQwest By Investing.com
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CTS (NYSE:) Corporation (ticker: CTS) reported their second-quarter 2024 earnings with sales of $130 million, a 10% decline from the previous year, yet in line with expectations. The company completed the acquisition of SyQwest, LLC, a move expected to be accretive in 2025. Despite a downturn in the transportation end…
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Dollar steady ahead of start of Fed meeting; traders remain wary By Investing.com
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Investing.com – The U.S. dollar was largely steady on Tuesday, with traders cautious ahead of the Federal Reserve’s latest interest rate-setting meeting. At 05:10 ET (09:10 GMT), the dollar index, which tracks the greenback against a basket of six other currencies, was slightly higher at 104.342, trading within a narrow…
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EURJPY: An updated technical look at the EURJPY after the break back below its 100 hour MA
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The EUR/JPY pair rallied earlier today, breaking above the 100-hour moving average (solid blue line on the chart below) in the process (currently at 166.679). The subsequent move extended towards the 100-day moving average (gradient blue line on the chart below) in the Asian and early European trading sessions, but…
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Exclusive-Blackstone in bid to acquire shopping center owner Retail Opportunity, sources say By Reuters
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By Anirban Sen (Reuters) – Private equity firm Blackstone is in early talks to acquire Retail Opportunity Investments Corp, a U.S. shopping mall owner with a market value of about $2 billion, people familiar with the matter said. Blackstone’s interest comes after ROIC shares have lost more than 10% of…
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Tech Stocks Sink as War Jitters Fuel Rush to Bonds: Markets Wrap
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(Bloomberg) — Stock markets were hammered by a broad selloff in the world’s biggest technology companies ahead of key central bank decisions. Bonds and gold rose as traders rushed to safe havens amid geopolitical risks. Oil remained lower. Most Read from Bloomberg The Israeli military struck Beirut, targeting a Hezbollah…
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Japan’s new currency diplomat keeps intervention on table to stabilise yen By Reuters
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Written by Makiko Yamazaki and Takaya Yamaguchi TOKYO (Reuters) – Japan will maintain its basic approach on the yen, with intervention remaining an option to address excessively volatile moves in the exchange rate, Atsushi Mimura, the new Japanese diplomat in charge of the currency, told Reuters. “Japan will act in…
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EURUSD falls below 200 day MA but finds support buyers near the 100 day MA
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The EUR/USD pair fell below the 200-day moving average at 1.08173, preceded by an extension of the decline on the back of a technical breakout. However, once the price reached the 200-bar moving average on the 4-hour chart and the 100-day moving average between 1.07946 and 1.07994, buyers stopped the…
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US agency puts onus on Amazon for sale of hazardous third-party products By Reuters
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Amazon.com Inc is liable for dangerous products sold by third-party sellers on its platform under federal safety law and bears legal responsibility for recalling them, the U.S. consumer watchdog said Tuesday. The Consumer Product Safety Commission said it has ordered the e-commerce giant to propose remedial plans to notify consumers…
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Macquarie bullish on USD into 2025 should Trump win By Investing.com
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Investing.com — Over the past month, major changes in U.S. policy have shifted market expectations, going beyond the Federal Reserve’s impact on the U.S. dollar. Initially, the U.S. dollar appeared to have peaked, especially as U.S. economic data slowed and the Fed prepared for an easing cycle. The US presidential…
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Is the gilt market sniffing out a Bank of England rate cut this week?
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2 year uk bond yields What does this chart say? UK two-year gilt yields fell 3.3 basis points today, the sixth straight day of declines. The move comes ahead of the Bank of England’s interest rate decision on Thursday, with interest rate markets pricing in a 60% chance of a…
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Is the gilt market sniffing out a Bank of England rate cut this week?
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2 year uk bond yields What does this chart say? UK two-year gilt yields fell 3.3 basis points today, the sixth straight day of declines. The move comes ahead of the Bank of England’s interest rate decision on Thursday, with interest rate markets pricing in a 60% chance of a…
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Sysco shares climb 2% on strong Q4 results By Investing.com
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HOUSTON – Sysco Corporation (NYSE: NYSE:), a leading global food distribution company, today reported modest earnings and revenue beats for the fourth fiscal quarter ended June 29, 2024. The company reported adjusted earnings per share of $1.39, narrowly beating analysts’ expectations of $1.38. Revenue for the quarter also rose slightly,…
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Hedge funds make massive retreat from short yen positions, UBS says By Reuters
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Written by Summer Chen HONG KONG (Reuters) – Global hedge funds have largely pulled back from their bearish bets on the Japanese yen during the currency’s strong rally against the U.S. dollar over the past two weeks, according to a note to clients by UBS seen by Reuters on Tuesday.…
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USDCAD Technical Analysis – We are at a key resistance level
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Basic Overview The US dollar has been steadily rising against most major currencies over the past two weeks, although the catalyst behind the move has been unclear. One good argument is that most of the moves we have seen over the past 10 days have been driven by debt relief…
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Apple used Google chips to train AI models
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Apple Inc. has used chips designed by Google instead of those by industry leader Nvidia for two key components of its artificial intelligence software infrastructure, reports revealed Tuesday, citing the iPhone maker’s latest research paper. Despite the dominance of Nvidia, which controls about 80% of the market, along with chips…