Category: Markets
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Bitcoin Technical Analysis – The bias switched back to bullish
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Basic Overview Bitcoin surged in value over the weekend after a failed assassination attempt on former US President Trump. The market responded positively to the event because it was a supporter of the cryptocurrency industry and the odds of Trump winning the election increased. Furthermore, we received news that the…
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Atos secures funding of $1.82 billion to restructure its debt By Reuters
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French IT company Atos said on Monday it had secured 1.675 billion euros ($1.82 billion) in financing to restructure its debt through a closing agreement with a group of banks and bondholders representing more than 50% of its creditors. Atos said the remaining creditors have until July 22 to participate…
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Chart Art: Bitcoin (BTC/USD) Retracing to Former Support Zone
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Did you miss the Bitcoin double top breakout? The price recently fell through the neckline of this reversal pattern, indicating that a long-term slide is in progress. The BTC/USD pair looks set for a quick retest of the area of interest, so keep your eyes peeled in case the trend…
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A light one on the agenda in Europe to start the week
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In case you missed the big news over the weekend in the US: I love him and I hate him. It is not reasonable to want another person dead. Trump got a little cut on his ear because of his bad luck, but we could have had a different headline…
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Asian stocks dip amid weak China GDP, Trump shooting aftermath By Investing.com
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Most Asian stocks fell on Monday after disappointing economic growth figures from China, while uncertainty over US policy following the assassination attempt on former President Donald Trump also weighed on sentiment. Markets faced low trading volumes due to the Japanese market holiday. But losses in most Asian markets were limited…
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China plenum meeting against the background of calls for more economic stimulus
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In case you missed it, China’s weak Q2 GDP data is here in this post, and it’s wrong for both the quarter/year and the year: The reasons behind China’s relatively slow growth are not mysterious: Long-term downturn in the real estate market Real estate sector is burdened with debt Household…
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Aussie banks to return $19 million charged in high fee to low-income customers By Reuters
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(Reuters) – Four Australian banks will return a total of A$28 million ($18.95 million) to low-income customers after a review by the corporate regulator found they were kept in high-fee accounts despite being eligible for cheaper products. ANZ, Commonwealth Bank of Australia, Bendigo Bank, Adelaide Bank and Westpac held at…
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Dollar sees safe-haven gains; sliding yen stays on intervention watch By Reuters
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Written by Ray Wee SINGAPORE (Reuters) – The dollar rose on Monday amid safe-haven demand following the assassination attempt on former U.S. President Donald Trump, leaving the yen struggling to survive despite suspected intervention efforts by Tokyo. Trading was thin in Asia due to a holiday in Japan, although news…
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Bitcoin higher alongside the prospects of a second Trump presidency
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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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Treasuries slip, dollar firm as markets grapple with US politics By Reuters
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By Wayne Cole SYDNEY (Reuters) – U.S. bond futures fell and the dollar rose on Monday as investors bet that the attack on U.S. presidential candidate Donald Trump would make his victory more likely while introducing a whole new level of political uncertainty into markets. A holiday in Japan led…
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Trump shooting overshadows markets, China GDP in spotlight By Reuters
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By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets. A dramatic escalation in political tensions and violence in the United States following Saturday’s assassination attempt on former President Donald Trump looms over global markets on Monday, with Asian assets the first to show what impact…
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Premium Forex Watch Recaps: July 8 – 10, 2024
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Central bank events and inflation data updates were the preferred catalysts this week, prompting our strategists to focus on the NZD and USD. Of the four scenario/price outlook discussions this week, It can be said that both discussions witnessed the raising of fundamental and technical arguments. To become a potential…
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Heads up for a holiday in Asia today – Japanese markets are closed (no UST physical trade)
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Japanese markets are closed today for Japan’s public holiday, Navy Day. Seaman’s Day, or Umi no Hi, is a national holiday in Japan celebrated on the third Monday in July. It honors the importance of the ocean to Japan as an island nation and recognizes maritime activities and the economic…
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Google near deal to acquire cybersecurity startup Wiz for $23 billion
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Alphabet Inc., the parent of Google, is in advanced talks to buy cybersecurity company Waze for about $23 billion, the Wall Street Journal reported on Sunday, citing people familiar with the matter. If the deal closes, it would be the company’s largest acquisition ever. The news comes days after reports…
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Citi reports solid Q2 amid regulatory scrutiny By Investing.com
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Citigroup Inc. (NYSE:) reported a strong second quarter for 2024, with a net income of $3.2 billion and earnings per share (EPS) of $1.52. The bank saw revenues increase by 4%, with notable growth in its Services, Markets, Wealth, and US Personal Banking divisions. Despite the positive financial performance, Citigroup…
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Wells Fargo reports mixed Q2 results, plans dividend hike By Investing.com
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Wells Fargo & Company (WFC) reported its second-quarter financial results, revealing both strengths and challenges as it continues its transformation journey. CEO Charlie Scharf emphasized the growth in fee-based revenue and strategic improvements in the credit card and corporate investment bank sectors. Despite a decrease in net interest income and…
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Tesla and SMCI stocks downgraded By Investing.com
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Investing.com – Here are analysts’ biggest moves in artificial intelligence (AI) this week. InvestingPro subscribers always get priority access to market-moving AI analyst commentary. Upgrade today! UBS Downgrades Tesla (NASDAQ:) to Sell on Revaluation, Rising AI Costs Analysts at UBS on Friday downgraded Tesla shares to sell from neutral, while…
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Vista Oil & Gas reports robust growth in Q2 2024 By Investing.com
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Vista Oil & Gas (ticker: VISTA) has reported significant growth in production and financial performance in its second quarter of 2024. The company’s total production surged by 40% year-over-year to 65,300 barrels of oil equivalent per day (BOEs per day), with oil production alone increasing by 46%. Total revenues for…
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What could actually happen? By Investing.com
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A potential second Trump administration is expected to double down on tough immigration policies, but what are the realistic outcomes? According to Evercore ISI, along with taxes and trade, immigration is a key driver of overall policy under Trump, especially as immigration has emerged as a top issue for voters…