Category: Markets
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US October UMich prelim consumer sentiment 68.9 vs 70.8 expected
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The final reading for September was 70.1 Current conditions 62.7 vs. 64.3 expected (previous 63.3) Expectations: 72.9 vs. 75.0 expected (previous 74.4) One-year inflation: 2.9% vs. 2.7% previously 5-year inflation 3.0% vs. 3.1% previously I do not attach much importance to this report because it is highly politicized and we…
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China’s BYD expects to swiftly lift sales in Germany, executive tells FAS By Reuters
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FRANKFURT (Reuters) – Chinese electric car maker BYD (SZ:) executive vice president Stella Li said she expects its sales in Germany to increase within six months. BYD will gain a foothold in Germany in “less than half a year,” Li told the Frankfurter Allgemeine Sonntagszeitung (FAS) newspaper. She criticized EU…
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September Inflation Cools but Remains Sticky
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It’s a mixed bag of consumer price data, with annual inflation continuing to slow in September, hitting a three-year low, although the report was slightly hotter than expected. The Consumer Price Index (CPI) — a broad measure of the cost of everyday items — rose 0.2% in September from the…
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Exclusive-Maldives picks Centerview as debt adviser amid financing crunch By Reuters
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Written by Karen Strohecker LONDON (Reuters) – The Maldives has chosen U.S.-based Centerview Partners as its debt adviser as the country struggles to avert a financial crisis, two sources familiar with the situation said. Fears have grown in recent months that the island nation could become the first country to…
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USDCHF this week settles in a higher up and down trading range.
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A week ago today, the USD/CHF pair broke to the upside and broke out of the “red box” that trapped the pair back to August 20. The US jobs report was the catalyst for the move to the upside, but by Monday, the price had fallen back to the top…
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Google wants US judge’s app store ruling put on hold By Reuters
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By Mike Scarsella (Reuters) – Google Inc has asked a federal judge in California to halt a sweeping court order requiring it to open its Play app store to greater competition. In a lawsuit Friday night, Google said the injunction from U.S. District Judge James Donato, which takes effect on…
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EBC Financial Group Enhances Liquidity and Lowers Trading Costs on Major Stock Indices
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Amid the global stock market recovery, EBC Financial Group (EBC) is enhancing liquidity for five major stock indices, including the US Dow Jones Index, Nasdaq, S&P 500, A50 (China), and Hang Seng Index (Hong Kong). This strategic move aims to provide investors with more effective and efficient trading across all…
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Pemex’s Deer Park oil refinery scales back operations after fatal accident By Reuters
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MEXICO CITY/HOUSTON (Reuters) – Mexico’s national oil company said in a statement late on Friday that Pemex’s Deer Park oil refinery near Houston would operate over the weekend at a reduced level after a deadly chemical leak two days earlier. The state-owned oil company said it was continuing to investigate…
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Bank of Canada business outlook survey says “demand is weak”
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To me, this report is more important than today’s jobs data. The Business Expectations Survey index remains negative, indicating broad-based weakness “Demand is weak, businesses have excess capacity, and price growth continues to slow” but there has been only slight deterioration since last quarter. Companies have reported weak sales growth…
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Hundreds of Hilton hotel workers walk off the job in Seattle By Reuters
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(Reuters) – More than 100 workers at the Hilton Hotel in Seattle have quit their jobs to demand higher wages, fair hiring and workloads and a reversal of coronavirus-era cutbacks, the United Here union said on Saturday. “The week-long strikes by 374 workers at the DoubleTree by Hilton Seattle Airport…
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China offers few details on stimulus in Saturday’s press conference
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China’s State Council Information Office held a long-awaited press conference on Saturday, chaired by Finance Minister Lan Fu’an. The market was hoping for more announcements on fiscal stimulus after media was told that an invitation said officials would outline the country’s plans to intensify counter-cyclical adjustments in its fiscal policy.…
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Verdi union against Commerzbank cross-border merger regardless of bidder nationality By Reuters
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ROME (Reuters) – German trade union Verdi will oppose Commerzbank’s cross-border merger even if the bidder is not an Italian bank like UniCredit, an official said on Saturday. Berlin was surprised by UniCredit’s decision to build a significant stake in state-backed Commerzbank, a move the Italian bank says could lead…
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USDCAD is snapping back higher after a stronger jobs report. Buyers back in control
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USD/CAD has been trending higher since bottoming on October 2 near 1.3472. Momentum over the past eight trading days has pushed the price to a high of 1.37826. Taking that price to the bottom of the next targeted swing zone between 1.3784 and 1.38036 (back to April 2024 – see…
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How US election could impact CEEMEA equities
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Investing.com – The US election is likely to impact the economies of Central and Eastern Europe, the Middle East and Africa, and JPMorgan discusses the potential consequences. The US investment bank took a look at four key policy areas affected by the US presidential election – tariffs, the dollar, oil…
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Fed’s Bowman does not comment on Fed policy or the economy at speaking engagement
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High risk warning: Foreign exchange trading involves a high level of risk that may not be suitable for all investors. Leverage creates more risk 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 or…
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Can the Government save US ecommerce from Temu and Shein? By Investing.com
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Investing.com – The US government is now facing a growing e-commerce challenge: the growing influence of Chinese retail giants Temu and Shein. Both platforms have revolutionized the US market with their ultra-low-cost products and unique consumer-to-manufacturer business models, providing huge price advantages over local competitors. With the recent proposals made…
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Somthing is going on with bitcoin and Microstrategy
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Bitcoin daily Bitcoin is up 4.5% today as it erases the past two days of selling. It’s a nice move but it brings things back to how they were over the past eight months. Wake me up when it breaks the $50-70k range. What catches my attention today is Microstrategy,…
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Bain makes binding offer for Fuji Soft, 7% higher than rival KKR By Reuters
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TOKYO (Reuters) – U.S. buyout fund Bain Capital has made a binding offer to buy FujiSoft for 9,450 yen per share in a deal that values the Japanese software developer at $4 billion and outperforms rival KKR by about 7 percent. Bain said in a statement on Friday that it…