Category: Markets
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US July Philly Fed +13.9 vs +2.9 expected
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Previous was +1.3 6-month index +38.7 vs. +13.8 previously Capital +7.4 vs. +12.1 previously Employment: +15.2 vs. -2.5 previously New Orders: +20.7 vs. -2.2 previously Prices paid: +19.8 vs. +22.5 previously Received prices: +24.2 vs. +13.7 previously Shipments: +27.8 vs. -7.2 previously Unfulfilled Orders: +9.1 vs. +8.9 previously Delivery times:…
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Abbott posts Q2 earnings beat, lifts full-year outlook By Investing.com
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Abbott Park, Illinois – Abbott Laboratories The American healthcare company (NYSE:) reported second-quarter earnings that beat Wall Street expectations and raised its full-year adjusted earnings guidance, signaling confidence in its diversified healthcare portfolio. The company reported adjusted earnings per share of $1.14, beating analysts’ estimates of $1.11. Revenue for the…
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Dollar edges higher; euro, sterling weaker ahead of ECB meeting By Investing.com
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Investing.com – The U.S. dollar was slightly higher on Thursday, while the euro fell ahead of a European Central Bank meeting and sterling fell as wage growth in the U.K. slowed. At 04:00 ET (09:00 GMT), the dollar index, which tracks the greenback against a basket of six other currencies,…
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Daily Broad Market Recap – July 17, 2024
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U.S. stocks and crude oil prices took their cues from individual catalysts on Wednesday and traded against their trends for the week. Meanwhile, the US dollar fell amid speculation that Japanese officials were intervening in the currency. Missed yesterday’s market headlines? We’ve got you covered! headlines: Melbourne Institute’s Leading Australian…
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China’s Communist Party central committee adopts resolution on further deepening reforms
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Adoption of a resolution on further deepening comprehensive reform Reform should be placed in a more prominent position consciously. The reform tasks set out in this resolution must be completed by 2029. Necessary measures will be implemented to prevent and mitigate risks in key areas such as real estate, local…
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European shares open higher, ECB rate verdict on tap By Reuters
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(Reuters) – European shares opened higher on Thursday, led by energy shares, while investors also awaited the European Central Bank’s interest rate decision, due later in the day. Qatar’s main index rose 0.2% at 0711 GMT and was on track to end a three-session losing streak. Oil and gas helped…
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Explainer-What are Japan’s tactics based on latest suspected intervention? By Reuters
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TOKYO (Reuters) – Japan is suspected of intervening in the foreign exchange market to support the yen on several occasions this month, highlighting its unease over the pain the currency’s slide is inflicting on households as import costs rise. While authorities have not confirmed whether they have actually intervened, here’s…
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Chart Art: Another Major Pullback on Gold (XAU/USD) Soon?
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Gold prices have been rising recently but are currently holding at a key resistance area. Will the channel resistance hold and force the precious metal to retreat? Better keep your eyes open for a possible correction to these levels! Gold (XAU/USD) 4 hours Chart by TradingView Speculation of monetary easing…
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USD/JPY stays in focus as the swings continue
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USD/JPY Daily Chart The pair fell by about 1.3% yesterday, the biggest drop since Japan intervened in the market last Thursday. Before that, we have to look back to the beginning of May when Japan intervened again at that time. This indicates the importance of yesterday’s drop. But this was…
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Standard Chartered boosts private bank team with 14 new hires By Reuters
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HONG KONG (Reuters) – Standard Chartered has hired more than a dozen new bankers for its private banking teams in Singapore, Hong Kong and the United Arab Emirates in a bid to grow its wealth management business, the bank said in a statement on Thursday. The appointments include Nicholas Cheng,…
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Japanese yen surges, USDJPY tumbles amid suspected intervention By Investing.com
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The Japanese yen rose sharply against the US dollar on Wednesday and Thursday, with the USD/JPY pair falling to its lowest level in more than a month amid speculation that the government has intervened in currency markets. The pair, which measures the number of yen needed to buy one dollar,…
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Some USD/JPY option expiries to be aware of for 10am NY time 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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TSMC set to report strong profit; stock pressured by Trump comments By Reuters
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TAIPEI (Reuters) – Taiwan Semiconductor Manufacturing Co., the dominant producer of advanced chips used in artificial intelligence applications, is expected to report a 30 percent jump in second-quarter profit on Thursday on surging demand. The world’s largest contract chipmaker, whose clients include Apple (NASDAQ:) and Nvidia (NASDAQ:), has benefited from…
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UBS raises EUR/USD forecast amid US data and Fed rate cut prospects By Investing.com
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UBS revised its exchange rate forecasts, citing a lack of strength in the US dollar despite expectations that some political events would support it. Contrary to these expectations, gold and bitcoin prices rose, but not the US dollar. UBS’s adjustment reflects a complex interplay of factors, including recent weak U.S.…
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UBS raises EUR/USD forecast amid US data and Fed rate cut prospects By Investing.com
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UBS revised its exchange rate forecasts, citing a lack of strength in the US dollar despite expectations that some political events would support it. Contrary to these expectations, gold and bitcoin prices rose, but not the US dollar. UBS’s adjustment reflects a complex interplay of factors, including recent weak U.S.…
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UBS raises EUR/USD forecast amid US data and Fed rate cut prospects By Investing.com
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UBS revised its exchange rate forecasts, citing a lack of strength in the US dollar despite expectations that some political events would support it. Contrary to these expectations, gold and bitcoin prices rose, but not the US dollar. UBS’s adjustment reflects a complex interplay of factors, including recent weak U.S.…
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TA of the Day: Can USD/MXN Bulls Hold the Line?
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US Dollar/Mexican Peso It’s been on the decline since the end of June. Ah Karamba! Recent price action is in favor of the bears, but oversold signals point to a potential pause or even a recovery, so the bulls are whispering, “Wait a minute, my friends!” you welcome in Teaching…
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ICYMI – Fed’s Beige Book eyes growth slowing, consumers tightening belts
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From the ForexLive Dictionary: The Beige Book is a report published by the Federal Reserve eight times a year that provides an overview of economic conditions in each of the 12 districts monitored by the Federal Reserve. The report is prepared using information from the Fed’s business contacts, economists, and…
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United Airlines Q3 profit outlook disappoints amid industrywide discounting pressure By Reuters
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By Rajesh Kumar Singh CHICAGO (Reuters) – United Airlines Holdings Inc on Wednesday forecast lower-than-expected profit in the current quarter as the industry grapples with a surplus of seat capacity in the domestic market that has undermined airlines’ pricing power. The Chicago-based airline expects adjusted earnings of $2.75 to $3.25…