Category: Markets
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Asia FX firms as dollar stalls amid rate cut bets, political uncertainty By Investing.com
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Most Asian currencies rose on Tuesday, while the dollar fell as the greenback’s recovery slowed due to continued expectations of interest rate cuts and uncertainty over the 2024 presidential election. However, sentiment towards Asia remained restrained by concerns about China, amid signs of a slowing economic recovery and uncertainty about…
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Daily Broad Market Recap – July 22, 2024
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Political developments in the US and China’s surprise move to ease monetary policy dominated headlines earlier this week. How did asset classes react to this news? Here are the market headlines you need to know: headlines: US President Biden withdraws from presidential raceVice President Harris is endorsed as the Democratic…
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Analysis-Drug giants eye China for deals despite growing Sino-US tensions By Reuters
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By Andrew Silver and Ken Wu SHANGHAI/HONG KONG (Reuters) – Some of the world’s biggest drugmakers, undeterred by growing tensions between China and the United States, are looking for deals in China to revamp their drug pipelines and boost their presence in the world’s second-largest pharmaceutical market, industry executives and…
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The AUD and the easing from China – given more a nudge lower
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The Australian and New Zealand dollars were weaker. The People’s Bank of China’s monetary easing measures yesterday did not help either. The People’s Bank of China summary is here in case you missed it: NAB Bank comments via Reuters report: “For the Australian and New Zealand dollars, they tend to…
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Deutsche Bank expect further losses still to come for large cap tech stocks
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Via CNBC, here are Deutsche Bank’s thoughts on the additional losses that still lie ahead for large-cap tech stocks: The shift from big tech to small cap companies that has occurred will be more than just a short-term glitch. The market still has a lot of optimism in mind about…
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Porsche lowers 2024 outlook, warns of impairments on alloy shortage By Reuters
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(Reuters) – Porsche AG on Tuesday cut its sales forecast for this year and warned of weaker production due to a shortage of aluminium alloys affecting several suppliers. The carmaker said it now expects sales of between 39 billion and 40 billion euros ($43.56 billion) amid flooding at one of…
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Porsche lowers 2024 outlook, warns of impairments on alloy shortage By Reuters
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(Reuters) – Porsche AG on Tuesday cut its sales forecast for this year and warned of weaker production due to a shortage of aluminium alloys affecting several suppliers. The carmaker said it now expects sales of between 39 billion and 40 billion euros ($43.56 billion) amid flooding at one of…
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TA of the Day: EUR/JPY Near Major Support. Will the Bullish Trend Hold?
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The EUR/JPY The currency pair, which has been one of the best performing pairs for bulls since the beginning of the year, is now facing a major challenge. ? With the price approaching the edge of an important dynamic support level, the question now is: will the bulls continue their…
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US SEC approves first spot ether ETFs to start trading Tuesday (July 23, 2024)
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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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SAP Q2 results top estimates as ongoing cloud demand boosts revenue By Investing.com
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SAP on Monday reported fiscal second-quarter results that beat Wall Street estimates as continued demand for its cloud services boosted performance. SAP SE ADR (NYSE:) shares rose about 4% in after-market trading following the news. For the three months ended June 30, SAP’s adjusted earnings were 1.10 euros per share…
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CNN: Schumer and Jeffries to endorse Harris as soon as today
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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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CNN: Schumer and Jeffries to endorse Harris as soon as today
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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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Wall St bounces back after sell-off as Biden exit takes center stage By Reuters
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By Ankika Biswas, Shubham Batra and Lisa Pauline Mattakal (Reuters) – U.S. and Australian stocks recovered some of the previous week’s losses on Monday, as investors reconsidered Republican candidate Donald Trump’s chances of winning a second presidential term after U.S. President Joe Biden dropped out of the race. Biden announced…
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USDJPY touches 100-hour MA target at 157.16, time for sellers to act
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In the introductory video, I explained how if the USD/JPY pair continues to move higher, the 100-hour moving average needs to hold resistance. Looking at the price action on Friday and again today, the highs and lows ignored the moving average line. With today’s decline, more selling momentum was found.…
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France urges Europe to step up work on faster stock market settlements By Reuters
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PARIS (Reuters) – The Bank of France and the country’s financial markets regulator urged Europe on Monday to step up work on halving the time it takes to settle stock trades, allowing Europe to catch up with Wall Street. The joint statement from the Bank of France and the securities…
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China’s surprise rate cuts will not hurt a fragile yuan, analysts say By Reuters
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SHANGHAI (Reuters) – China surprised markets by cutting a series of key short- and long-term interest rates on Monday in a bid to boost growth in the world’s second-largest economy. Analysts said the move showed that the yuan, which has been battered all year by its low yields versus U.S.…
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China’s surprise rate cuts will not hurt a fragile yuan, analysts say By Reuters
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SHANGHAI (Reuters) – China surprised markets by cutting a series of key short- and long-term interest rates on Monday in a bid to boost growth in the world’s second-largest economy. Analysts said the move showed that the yuan, which has been battered all year by its low yields versus U.S.…
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USDCHF respecting support and resistance in trading to start the new trading week.
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The USD/CHF pair is trading up and down in a limited range. The price is moving above and below the swing low at 0.88808 and the 200-day moving average at 0.8883. The 38.2% of the move up from the December 2023 low is also within the swing zone at 0.8883.…
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Spotlight on GDP, PCE data and earnings By Investing.com
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U.S. stocks ended Friday in the red, as Wall Street wrapped up a week marked by a shift from this year’s big-cap winners to smaller names. The Dubai Financial Market Index fell by 0.71% to close at 5,505.00 points, and also fell by 0.81% to close at 17,726.94 points, and…