Category: Markets
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European major indices close mixed (thanks to the UK FTSE 100)
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Major European indices closed mixed, with the UK’s FTSE 100 up 0.40%, but most other indexes closed lower. A screenshot of the final levels shows: German DAX, -0.48% French CAC index -1.15% FTSE 100 +0.40% Spanish IBEX -0.56% FTSE MIB Italian Index -2.03% As traders exited London/Europe, major US indices…
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Stellantis triggers government scrutiny with Comau stake sale By Reuters
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MILAN (Reuters) – Automaker Stellantis will sell a majority stake in its robotics unit Comao to OneEquity Partners, the three companies said in a statement on Thursday, in a move aimed at supporting Comao’s expansion beyond the automotive sector. Financial details of the deal were not disclosed, but US private…
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Investors turn long on Singapore dollar after 7 months; bearish bets on Asian FX ease
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Written by Roshni Nair (Reuters) – Investors have become bullish on the Singapore dollar for the first time since mid-December as growth and inflation dynamics in the city-state continue to support the local currency, while bearish bets on most Asian currencies have eased, a Reuters poll showed on Thursday. Long…
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IMAX Shares Add 5% After Q2 Earnings and Revenue Beat By Investing.com
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NEW YORK — IMAX Corporation (NYSE: NYSE:) reported a big beat in both earnings and revenue for the second quarter of 2024, sending its shares up 5.5% as the market reacted to the news. The global entertainment platform reported adjusted earnings per share of $0.18, beating analysts’ expectations of $0.08.…
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Dollar slips ahead of GDP data; euro rises and yen surges By Investing.com
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Investing.com – The U.S. dollar fell on Thursday, the euro posted small gains and the Japanese yen rose to multi-month highs ahead of a Bank of Japan meeting next week. At 05:25 ET (09:25 GMT), the dollar index, which tracks the greenback against a basket of six other currencies, was…
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Dollar rally in previous years still leave much room for correction – SocGen
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The firm claims that the dollar’s appreciation over the 2021-22 period means there is still room for a deeper correction in the US currency’s downward momentum ahead. The firm does not expect the dollar to test the lows it hit at the end of 2020, but says the currency is…
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Ford stock dives 13% after larger-than-expected Q2 loss, warranty burden By Investing.com
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Ford Motor Company (NYSE: NYSE:) reported a big drop in second-quarter earnings, with adjusted earnings per share (EPS) of $0.47, missing analysts’ estimates of $0.68. The company’s fourth-quarter revenue was $47.8 billion, slightly below the consensus estimate of $48.09 billion. Second-quarter earnings before interest and taxes were $2.8 billion, also…
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India cenbank may prefer mild rupee weakness to correct overvaluation, BofA says By Reuters
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MUMBAI (Reuters) – The Reserve Bank of India may allow the rupee to weaken slightly to ease a slightly elevated real effective exchange rate and keep the South Asian currency “competitive”, Bank of America Securities said in a note on Thursday. This “supports the government’s ambitions to attract large-scale manufacturing…
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Chart Art: How Long Can Gold (XAU/USD) Go?
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Spot gold is approaching a key support area after seeing sharp declines since last week. How low can gold go before bulls rally again? Gold (XAU/USD) 4 hours Chart by TradingView Increased demand for the US dollar and concerns over China’s economic growth have contributed to a decline in gold…
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The risk mood begins to sour again on the day
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U.S. futures were largely steady in Asian trading, with S&P 500 futures up 0.2% at the time. This comes despite a heavy sell-off in the region, with the Nikkei closing down more than 3% and hitting its lowest close since late April. This continues to underscore that sentiment is extremely…
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Swiss private bank Julius Baer H1 profit drops 15% By Reuters
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ZURICH (Reuters) – Swiss private bank Julius Baer reported a 15 percent drop in profit in the first half of 2024 on Thursday, a turbulent period that saw its chief executive step down in the wake of the multi-million dollar Cigna debacle. The Zurich-based bank said adjusted net profit fell…
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Asia FX muted as dollar dips ahead of econ. data; yen surges By Investing.com
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Most Asian currencies moved in a flat-to-low range on Thursday as a pullback in equity markets kept traders largely avoiding risk-based assets, while the dollar retreated ahead of key economic indicators in the coming days. The Japanese yen remained an exception, rising to its strongest level against the dollar in…
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Daily Broad Market Recap – July 24, 2024
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The Japanese Yen was the pips king in the Forex market once again, posting its third consecutive day in the green with a solid performance. In contrast, US stocks suffered sharp losses due to a broad sell-off in technology stocks, while commodities also declined. Here are the market headlines you…
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USD/JPY implied volatility surges to its highest since the first week of May
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Implied volatility is a component of the options pricing model. In short, the expected annual movement in an asset (USD/JPY in this case), adjusted for the expiration period. A higher IV means higher priced options (more expensive to secure “protection” via options). Volatility has increased due to the significant appreciation…
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ANZ’s initial view of bond trading allegations has no evidence of manipulation By Reuters
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(Reuters) – ANZ, Australia’s fourth-biggest bank, said its initial assessment of a distressed bond sale sparked a regulatory investigation that concluded it did not engage in market manipulation, although the bank admitted to unacceptable errors in data reporting. Earlier this month, the company’s chief executive said ANZ planned to “get…
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AUD, NZD falling again | Forexlive
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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Nasdaq sees biggest drop in 2 years as tech earnings spark selloff
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Real supportIndependent Press Find out moreClose Our mission is to provide unbiased, fact-based reporting that holds power to account and exposes the truth. Whether it’s $5 or $50, every contribution counts. Support us to provide journalism without an agenda. Major stocks fell sharply on Wednesday after several companies reported disappointing…
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Ford profit disappoints, stock falls 11% as quality issues dog automaker By Reuters
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By Nora Eckert and Nathan Gomez (Reuters) – Ford Motor Co reported a drop in second-quarter adjusted profit on Wednesday as the automaker continued to grapple with costly quality issues and an electric vehicle business that weighed on its bottom line, sending shares down 11% in after-hours trading. The Detroit…
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TA of the Day: Is GBP/USD’s Uptrend Taking a Temporary Pause?
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GBP/USD The price is wandering around the 1.2900 level, unable to make a decision. Sellers tried to take control, but they couldn’t quite get the job done, failing to close the day below the 1.2900 level. However, the bullish momentum seems a bit weak. Wall Street banks are betting that…