Category: Markets
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Asia FX weakens as yen volatility spurs caution; dollar dented by soft CPI By Investing.com
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Most Asian currencies fell slightly on Friday as traders turned cautious amid increased volatility in the Japanese yen, which raised speculation about whether the government had intervened in the markets. Losses in regional units were muted as the dollar held steady at a one-month low, after weaker-than-expected U.S. CPI inflation…
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Cooler U.S. June CPI Boosted Odds Of Multiple Fed Rate Cuts In 2024
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U.S. consumer prices fell unexpectedly in June, The consumer price index fell 0.1% on a monthly basis. This represents the first decline since May 2020 and is in contrast to the expected 0.1% increase. It also represents a shift from the flat reading in May. When we remove volatile materials…
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Japan finance minister Suzuki says rapid FX moves are undesirable
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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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US stock futures steady as Wall St falls after CPI data; Q2 earnings awaited By Investing.com
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U.S. stock index futures were flat in overnight trading Thursday as Wall Street took a hit from profit-taking even as inflation showed signs of slowing, with focus now shifting to the second-quarter earnings season. The index settled at 5,641.50 points, while it settled at 20,444.25 points by 19:03 ET (23:03…
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UBS presents 3 scenarios that could lead to a decline By Investing.com
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The euro (EUR) has remained in a tight trading range against the US dollar (USD) throughout most of 2023, with UBS analysts expecting this trend to continue throughout 2024. According to UBS, the combination of political, economic and market dynamics makes forecasting the exchange rate particularly difficult. Key factors influencing…
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TA of the Day: Will USD/JPY Bounce After Sharp Sell-Off?
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There was a significant decrease in USD/JPY Today after the release of weaker-than-expected US CPI data Will USD/JPY bounce back after this sharp sell-off? you welcome in Teaching Assistant for Today (Tauted)! Here is the 4-hour chart: USD/JPY 24/7 Chart by TradingView Using the technical analysis concepts we covered in…
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NATO allies are discussing reclaiming some Chinese-owned infrastructure in Europe
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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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Culper Research calls out Iris Energy’s misrepresentations and overvaluation By Investing.com
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Investing.com – In a research note on Thursday, Culper Research weighed in on Iris Energy Inc. Technologies Inc. (NASDAQ: INK), a company originally focused on Bitcoin mining, has now announced that it has rebranded as a high-performance computing (HPC) data center. Kolber’s analysis suggests that this strategic shift is more…
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Stock Rotation Hits Megacaps on Bets Fed Will Cut: Markets Wrap
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(Bloomberg) — Wall Street traders betting the Federal Reserve will be able to cut rates soon sent bond yields tumbling — while driving a big rotation out of the tech megacaps that have powered the bull market in stocks. Most Read from Bloomberg Further signs that inflation is slowing down…
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UBS optimistic on British pound, sets EUR/GBP target at 0.8400 By Investing.com
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UBS has expressed a bullish outlook for the pound, citing recent comments from new UK Chancellor Rachel Reeves on the government’s growth agenda. Reeves stressed the limited scope of government spending, indicating that the administration will focus on supply-side reforms to stimulate investment and growth. UBS noted that despite similar…
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What would increase the bearishness in the Nasdaq today and going forward?
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The Nasdaq Composite Index fell -408 points at one point in today’s trading. It is now down -334 points or -1.80%. This is its worst decline since April 30 when the index fell -2.04%. What did the pullback do technically? The Nasdaq index retreated from the 38.2% decline. The Nasdaq…
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Tesla delays robotaxi launch to October from August, Bloomberg News reports By Reuters
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Tesla Inc. has delayed the launch of a robotaxi by about two months until October after the design team was asked to redesign some elements of the vehicle, Bloomberg News reported on Thursday, citing people familiar with the decision. Shares of Tesla (NASDAQ:TSLA), which is betting on self-driving vehicles over…
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Biden campaign says its polling shows post debate net favorability is 20% > than Trumps
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Biden’s campaign says: There is growing concern after the discussion, but no radical shift in the race’s position. Its internal data and public opinion polls show the race is still within the margin of error in key swing states. Polls showed Biden’s popularity after the debate was about 20 percentage…
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Grab’s deal to buy Trans-cab could reduce competition, Singapore regulator says By Reuters
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(Reuters) – Singapore’s competition watchdog has asked car rental firm Grab and Transcab to submit solutions to address competition concerns after last year’s deal to buy the taxi firm. Grab is one of the city-state’s largest ride-hailing companies, with the deal for Transcab reportedly worth around S$100 million (US$74 million).…
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Japanese yen surges, ringing intervention alarm bells By Reuters
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(Reuters) – The Japanese yen jumped about 3% on Thursday in its biggest daily gain since late 2022, a move local media attributed to a round of official buying to support the currency, which is at a 38-year low. The dollar fell to 157.40, just after data showed that consumer…
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Mid-Year Check: How Are You on Your Trading Goals?
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Can you believe we’re halfway through 2024?! As the first half of the year comes to a close, it’s time to take a look at the trading goals you set at the beginning of the year and see if you need to make changes to your goals, trading processes, or…
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US initial jobless claim 222K vs 236K estimate
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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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Uniqlo owner lifts forecast again as weak yen powers sales from tourists By Reuters
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Written by Rocky Swift TOKYO (Reuters) – The Japanese operator of fashion giant Uniqlo on Thursday raised its forecast for what would be a third straight year of record profit, helped by strong sales at home and some overseas markets. The domestic market has been a bright spot for Fast…
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Dollar slips ahead of CPI release; pound gains after GDP strength By Investing.com
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Investing.com – The U.S. dollar was lower in early European trade on Thursday ahead of a key inflation report later in the session, while strong growth data boosted the British pound. 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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RBNZ Announced “Dovish Hold” in Highlighting Weaker Domestic Inflation
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The Reserve Bank of New Zealand left interest rates unchanged at 5.50% for the eighth straight month in July, as expected. Their official statement indicated that their restrictive monetary policy had succeeded in reducing price pressures enough to allow the committee to forecast a return to its annual inflation target…