Category: Markets
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PBOC is expected to set the USD/CNY reference rate at 7.2656 – Reuters estimate
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The People’s Bank of China is scheduled to set the exchange rate of the US dollar against the Chinese yuan at around 0115 GMT. The People’s Bank of China, the central bank of China, is responsible for setting the daily midpoint of the yuan (also known as the renminbi or…
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predicting the next president and making money with decentralized markets
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What’s the buzz around decentralized prediction markets for the 2024 election? Learn how to predict the next president and profit from your insights. Have you ever wondered if you could predict the outcome of an event and profit from your predictions? Decentralized prediction markets are making this possibility a reality.…
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predicting the next president and making money with decentralized markets
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What’s the buzz around decentralized prediction markets for the 2024 election? Learn how to predict the next president and profit from your insights. Have you ever wondered if you could predict the outcome of an event and profit from your predictions? Decentralized prediction markets are making this possibility a reality.…
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Saks owner to buy Neiman Marcus, source says By Reuters
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Written by Ananya Mariam Rajesh and Greg Roumeliotis (Reuters) – The parent company of Saks Fifth Avenue has agreed to buy rival Neiman Marcus, a source familiar with the matter told Reuters on Wednesday, in a move expected to give the struggling luxury retailer more power to negotiate with sellers.…
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J.P. Morgan bullish Stablecoins – see the market ‘growing again’
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JP Morgan says the rise in cryptocurrencies/Bitcoin so far this year has been a major boost to growth in stablecoins: In contrast to last year when market participants were still reeling from the collapse of several prominent crypto entities, the regional banking crisis, and of course the Fed’s tightening campaign,…
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Constellation Brands Q1 FY2025 shows robust growth By Investing.com
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Constellation Brands, Inc. (NYSE:), a leading beverage alcohol company, has reported a strong start to the fiscal year 2025, with the Beer division driving notable growth. The company’s enterprise net sales outperformed the overall consumer packaged goods sector by 4.5 percentage points. With a focus on disciplined capital allocation, Constellation…
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Asia FX steadies as dollar dips after Powell comments; yen intervention eyed By Investing.com
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Most Asian currencies were steady on Wednesday, tracking some weakness in the dollar overnight after Federal Reserve Chairman Jerome Powell signaled progress toward lowering inflation. The Japanese yen remained fragile and at its weakest level in 38 years, with the focus squarely on possible government intervention in the currency market.…
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USDCAD moves down toward low of multi-week range ahead of jobs reports on Friday
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The USD/CAD pair continued its downward movement today on the back of lower interest rates and weaker US data. Technically, the price moved below the 100 and 200-bar moving averages on the 4-hour chart yesterday, and remained below those moving averages in the early Asian session today, before moving lower…
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‘Several’ Fed officials want more rate hikes if inflation persists, minutes show By Investing.com
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The Federal Open Market Committee released the minutes of its latest meeting, which highlighted that the vast majority of participants said that U.S. economic growth is gradually slowing. “The vast majority of participants considered that growth in economic activity appears to be gradually slowing, and most participants indicated that they…
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Rupee to trade in narrowest range in about 30 years on RBI’s actions: Reuters poll By Reuters
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Written by Anant Chandak BENGALURU (Reuters) – The Indian rupee will trade in its narrowest range in nearly three decades next year as the Reserve Bank of India continues to maintain a tight grip on currency movements, a Reuters poll showed. While most emerging market currencies have underperformed against the…
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Stock Market News Today: Markets notch new all-time high after economic data (SP500)
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The Standard & Poor’s 500 index of U.S. stocks on Wall Street on Wednesday hit an all-time daily high, after fresh economic data supported a scenario in which the Federal Reserve will be able to start easing monetary policy. Traders will see a cut session. Ahead of the Independence Day…
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Atlanta Fed GDPNow growth estimate for 2Q falls to 1.5% from 1.7%
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The Atlanta Fed lowered its GDP growth estimate for the second quarter of 2015 to 1.5% from 1.7% after the latest data. In their words: The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2024 is 1.5 percent On July 3, down…
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Hapag-Lloyd CEO sees solid shipping demand driving up freight rates By Reuters
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FRANKFURT (Reuters) – Strong demand for container shipping has pushed freight rates higher in the past two months, Hapag-Lloyd Chief Executive Rolf Habben Jansen said on a call with reporters on Wednesday. He said attacks on ships by Yemen-based Houthi militants had prompted shipping companies to avoid the Red Sea,…
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Dollar slips after dovish Powell speech; euro gains ahead of French vote By Investing.com
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The US dollar fell in early European trading on Wednesday after Federal Reserve Chairman Jerome Powell signaled progress toward lowering inflation, while the euro rose ahead of the second round of French parliamentary votes. At 04:35 ET (08:35 GMT), the dollar index, which tracks the greenback against a basket of…
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US stocks are trading marginally higher ahead of the early Independence Day close
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Major U.S. stock indexes are trading mixed in early trading ahead of an early close at 1 p.m. Tomorrow, the U.S. stock market will be closed in observance of the Independence Day holiday. The bond market closes today at 2 p.m. ET and will be closed tomorrow as well: The…
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EU governments hesitant on Chinese EV tariffs as trade spat escalates By Reuters
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By Philip Blenkinsop and Nick Carey BRUSSELS/LONDON (Reuters) – European Union countries are dithering over whether to back additional tariffs on Chinese-made electric cars, highlighting the challenge Brussels faces in rallying support for its biggest trade case yet as Beijing threatens broad retaliation. Germany, whose automakers made a third of…
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Euro expected to hold ground despite political tremors: Reuters poll By Reuters
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Written by Saroopia Ganguly BANGALORE (Reuters) – The euro is expected to weaken modestly against the U.S. dollar this month before rallying by the end of the year, currency strategists polled by Reuters said, even though financial markets expect two more interest rate cuts by the European Central Bank by…
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Daily Broad Market Recap – July 2, 2024
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Global assets were pricing in their individual headlines until the US session when high-profile calendar events influenced broader market themes. What are the headlines that moved the markets during the recent trading sessions? We have a breakdown for you: headlines: Minutes from the Reserve Bank of Australia’s June meeting highlighted…
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Daily Broad Market Recap – July 2, 2024
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Global assets were pricing in their individual headlines until the US session when high-profile calendar events influenced broader market themes. What are the headlines that moved the markets during the recent trading sessions? We have a breakdown for you: headlines: Minutes from the Reserve Bank of Australia’s June meeting highlighted…
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Copper Technical Analysis – The bearish momentum has waned
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Basic Overview Copper has been rallying on key support recently and extended gains this week after China’s Caixin manufacturing PMI was released as the survey hit its highest level since May 2021. Over the past few weeks, the downward momentum has already appeared to be slowing as lower lows have…