Category: Markets
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Economic calendar in Asia on Thursday, July 25, 2024 – some data from Japan
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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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Evercore posts record Q2 revenues of $695 million By Investing.com
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Evercore Inc. (EVR) has announced its highest ever adjusted net revenues for a second quarter, reaching $695 million, marking a significant year-over-year increase. The robust performance was largely attributed to a 52% spike in adjusted advisory fees, which amounted to $568 million. This impressive growth is a reflection of the…
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Stocks Get Hit as ‘AI Trade’ Slams Into a Wall: Markets Wrap
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(Bloomberg) — Wall Street is now facing a reality check after a disappointing start to the earnings season for large-cap companies, raising concerns that the artificial intelligence craze that has fueled the bull market may be overdone. Most Read from Bloomberg The world’s biggest tech companies dragged the S&P 500…
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The USDCHF is sharply lower on the day,but respects key support target near 0.8819-0.8825.
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Yesterday, the USD/CHF pair rose and found support at the 200-day moving average early in the day, which turned the bias to the upside. It rose above the 38.2% retracement level of the recent move lower at 0.89072, extending to a high of 0.8923 before slowing at the close. But…
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Delta expects normal operations by Thursday as flight disruptions ease By Reuters
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By David Shepardson and Rajesh Kumar Singh Delta Air Lines CEO Ed Bastian said the company is making progress in restoring services after a global computer outage and will resume normal operations on Thursday. The Atlanta-based airline has been hit hard by the outage, cancelling more than 6,000 flights since…
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Atlanta Fed GDPNow growth estimate for 2Q comes in at 2.6% vs 2.7% previously
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Atlanta’s GDP growth estimate for the second quarter is now 2.6% versus 2.7% previously. This will be the last modeled report for the second quarter. At 8:30 a.m., advanced GDP will be released. Economists’ survey estimates a lower figure of 2.0%. In their own words: The GDPNow model estimate for…
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Remy Cointreau too concentrated in cognac, investors say By Reuters
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By Emma Romney LONDON (Reuters) – Remy Cointreau needs to diversify its investments further because its reliance on cognac sales in the United States and China makes it among the hardest hit by the global spirits price slump, investors say. Cognac maker Rémy Martin has already indicated it wants to…
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Analysis-Investors foxed by Japan’s revamped FX intervention blueprint By Reuters
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By Amanda Cooper and Brigid Riley LONDON/TOKYO (Reuters) – Japanese official buying to defend the yen has become a standard feature of the foreign exchange market landscape in 2024, but authorities in Tokyo have changed their tactics, making it harder for investors to guess when and how they might intervene.…
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Analysis-Investors foxed by Japan’s revamped FX intervention blueprint By Reuters
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By Amanda Cooper and Brigid Riley LONDON/TOKYO (Reuters) – Japanese official buying to defend the yen has become a standard feature of the foreign exchange market landscape in 2024, but authorities in Tokyo have changed their tactics, making it harder for investors to guess when and how they might intervene.…
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How To Deal With Fear In Forex Trading
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In trading, the fear comes from the increased possibility of losing money, which can happen at any time for the trader. Feeling afraid is normal, as fear is a basic survival mechanism. Without fear, we would not be able to recognize danger and respond to it appropriately. The problem with…
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ES will probably get to 5488 or so, IMO
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Key Levels and Market Trends for S&P 500 e-mini Futures (ES) S&P 500 Technical Analysis – Drop Below 5500, In My Opinion ? Current trend of the S&P 500 e-mini futures market: S&P 500 e-mini futures (ES) have been in a strong uptrend within a well-defined ascending channel since October.…
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Political storms won’t curb military spending boom, defence firms say By Reuters
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By Joe Brock and Joanna Ploczynska FARNBOROUGH, England (Reuters) – Defence companies are confident that Western governments will continue to boost arms spending to counter Russia and China, shrugging off concerns that political turmoil in the United States and Europe could curb military budgets. Global defence spending hit a record…
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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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Chart Art: Bitcoin’s (BTC/USD) Trend Pullback Opportunity
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As we reported in today’s broad daily market summary, the U.S. Securities and Exchange Commission has approved six ETFs for Bitcoin (ETH), and they are set to begin trading as early as Tuesday. It is no surprise that Bitcoin is facing some downward pressure as traders consider the possibility of…
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Eurozone July flash services PMI 51.9 vs 53.0 expected
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Previous 52.8 Manufacturing PMI 45.6 vs. 46.1 expected Previous 45.8 Composite PMI 50.1 vs. 51.1 expected Previous 50.9 Eurozone economic growth stalled in July, as growth in services activity slowed and manufacturing conditions continued to slacken. The first reading was four months lower and the second reading was a seven-month…
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Deutsche Bank Q2 beats estimates, RBC maintains “outperform” despite headwinds By Investing.com
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Investment.com – German Bank DBK (ETR:) reported a positive set of second-quarter results that beat analysts’ expectations for net income and pre-tax earnings, according to a report from RBC Capital Markets. The upbeat performance was driven by strong revenue growth across all business divisions. Strong revenue growth across core businesses:…
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Daily Broad Market Recap – July 23, 2024
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The US dollar has been steadily rising against most of its rivals in the foreign exchange market, but the Japanese yen has been a notable exception. Price action across other asset classes was hotter, with volatility rising but market correlations appearing to have broken down. What’s up with that?! Here…
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ForexLive Asia-Pacific FX news wrap: USD and JPY gained ground (USD/JPY lower)
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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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Asian stocks drop as tech tracks weak US earnings; China remains on backfoot By Investing.com
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Most Asian stocks fell on Wednesday, weighed down by renewed losses in the technology sector as major corporate earnings in the United States fell overnight, while sentiment toward China also showed little sign of improvement. Regional stocks received weak support from Wall Street, especially as U.S. stock index futures fell…