Category: Markets
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Goldman Sachs: EUR should now be the preferred funding currency over CHF and JPY
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Goldman Sachs suggests that the euro should now be considered the financing currency of choice, especially compared to the Swiss franc and Japanese yen, given current market conditions and expectations for the currency’s performance. Key points: The company uses its market systems framework to analyze forex performance based on return…
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Boeing to cut 17,000 jobs, delay first 777X jet as strike hits finances By Reuters
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Written by Alison Lambert and David Shepardson (Reuters) – Boeing Co plans to cut 17,000 jobs – 10% of its global workforce – delaying the first deliveries of its 777 – Long strike. CEO Kelly Ortberg said in a letter to employees that the significant downgrade was necessary “to adjust…
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For what it is worth…If Harris elected President she would have a Republican on cabinet
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As the election approaches, expect more and more promises to sway the last voters. Democratic candidate Harris now promises Republican representation in her government. Meanwhile, for Republican Party candidate Trump, some of his latest promises: Interest on car loans will be completely tax deductible. He intends to activate the six-year…
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US court puts on hold permits for Kinder Morgan unit to build Tennessee pipeline By Reuters
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(Reuters) – A US appeals court on Friday suspended the approvals and permits needed to allow a residential project to be built Morgan’s children (NYSE:) subsidiary to build a 32-mile gas pipeline in Tennessee, at the request of environmental groups. The proposed Cumberland project, which would be built by Kinder…
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FX Weekly Recap: October 7 – 11, 2024
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The forex markets saw many themes at play, including geopolitical developments, central bank commentary, and top tier economic releases. Safe-havens like the Swiss franc and Japanese yen outperformed, while the “risk-on” currencies rode a rollercoaster of broad risk sentiment headlines and individual country stories. USD Pairs Overlay of USD vs.…
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Forexlive Americas FX news wrap: Canadian jobs beat but CAD down for eighth day
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Markets: Gold rose $26 to $2,655 The yield on US 10-year bonds fell by one basis point to 4.08%. West Texas Intermediate crude fell 30 cents to $75.56 The New Zealand dollar advances, and the Japanese yen lags The S&P 500 rose 0.7%, reaching a new record high Friday has…
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Tesla’s robotaxi event was long on Musk promises. Investors wanted more details By Reuters
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Written by Chris Kirkham LOS ANGELES (Reuters) – For an entrepreneur who always struggles with broken promises, Elon Musk gave himself a to-do list Thursday night at the much-anticipated Tesla (NASDAQ:) show in Hollywood that unveils a driverless robotaxi. Many of his announcements during a 20-minute presentation lacked practical details,…
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Dollar at Crossroads as Trump or Harris White House Looms By Investing.com
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Investing.com – The upcoming US elections may be a crossroads for the dollar, as a Trump win is likely to initially strengthen the US currency, while a Harris win could lead to short-term weakness, but experts warn against betting on any immediate win. . -The movement in results is likely…
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The 45th record close for the S&P index. Dow also closing at a record level.
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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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Exclusive-CVS to exit core infusions services business, job cuts possible By Reuters
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Written by Amina Niasse NEW YORK (Reuters) – CVS Health is exiting its core infusion services business and plans to either close or sell 29 related regional pharmacies in the coming months, a company spokesman confirmed to Reuters on Friday. Details of the strategic shift were announced in a CVS…
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NZDUSD moves back into swing area and between 100/200 day MAs going into the weekend.
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NZDUSD has been trading above and below the 100-day moving average this week but above the 200-day moving average (green line) until the Reserve Bank of New Zealand’s interest rate decision mid-week. The central bank cut interest rates by 50 basis points sending the pair below the 61.8% level but…
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OPEC report, Fed’s Waller speech highlight Monday’s economic calendar By Investing.com
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As traders approach another pivotal day for the financial markets on Monday, October 14, 2024, attention will be focused on key reports and speeches that could influence market dynamics. OPEC’s monthly report and Federal Reserve Governor Christopher Waller’s speech are expected to provide valuable insights into the global oil market…
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AUDUSD is lower on the week, but sellers had their shot and missed below key retracement.
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The Australian dollar fell against the US dollar a week ago as a result of the stronger-than-expected US jobs report. However, the price remained above the 200-bar moving average on the 4-hour chart (green line on the chart below). It wasn’t until Monday when the price broke below this level…
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Daily Broad Market Recap – October 10, 2024
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All eyes and ears were on the release of the US CPI… which didn’t cause much hype in the markets. However, crude oil gained a massive 3% for the day. Read on to find out why! Titles: Japan’s producer prices rose from 2.6% to 2.8% year-on-year in September instead of…
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Tesla shares fall 8% after robotaxi event panned for lack of details
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Elon Musk went back to his old book with the Robotaxi event, teasing untested technology and mixing it with hype. The problem is that he routinely misses deadlines way too high and the final pricing looks nothing like what he promised. There is no world in which e-taxis will be…
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Polestar expects positive Q4 margin, to conduct strategic review; shares down By Investing.com
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Investing.com – Polestar (NASDAQ:) said on Friday that it expects to reach a positive gross profit margin in the fourth quarter, despite a 14% decline in electric vehicle deliveries during the third quarter. The company also said it would conduct a review of strategy and operations. Shares of the Swedish…
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4 Ways to Minimize Missing Good Trades
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Forex traders who want to make consistent profits know the importance of tracking the rights and wrongs of their trades. Unfortunately, the impact of the deals they don’t make is often overlooked. Traders are no strangers to missing out on good trading opportunities. At one point or another we have…
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What would it really take for a pullback in gold prices?
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Even as the dollar strengthened and traders retreated to pricing in a 25 basis point move for the Fed in the last week or so, that did not faze gold prices at all. There was a slight decline towards $2,605 earlier this week, but that did not last as prices…