Category: Markets
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Property catastrophe reinsurance rates fall in July, report says By Reuters
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LONDON (Reuters) – Global property catastrophe reinsurance rates ranged from unchanged to “mid- to high-single-digit” declines in July after years of rising prices, reinsurance broker Guy Carpenter said on Monday. Insurance companies tend to renew their reinsurance contracts on specific renewal dates, including July 1. Reinsurance rates — insurance for…
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Dollar is only winner from China-West trade war: McGeever By Reuters
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By Jamie McGeever ORLANDO, Fla. (Reuters) – The U.S. dollar may be the only “winner” from a potential all-out trade war between the West and China. Uncertainty over global trade policy is the highest since 2018-2019 when clashes between the administration of former US President Donald Trump and Beijing reached…
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US dollar bounces right back after ISM dip
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USD/JPY 10 minutes The US dollar fell on weak ISM manufacturing, but it bounced back strongly. Fuel is coming from the bond market, where 10-year Treasury yields are now up 12 basis points on the day and more than 20 basis points since their lows after Friday’s personal consumer spending…
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US stocks continue to climb; key payrolls release looms large By Investing.com
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Investing.com — U.S. stocks rose on Monday, extending recent gains as investors awaited further signals on interest rates from a slew of Federal Reserve officials and key labor market readings this holiday-shortened week. At 09:35 ET (13:35 GMT), the S&P 500 was up about 240 points, or 0.6%, the Dow…
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South African markets cheer Ramaphosa’s ‘business friendly’ cabinet By Reuters
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Written by Bhargav Acharya and Kopano Gombe JOHANNESBURG (Reuters) – South African assets rose sharply on Monday after President Cyril Ramaphosa formed a long-awaited new government that included the former opposition leader and signaled continuity in fiscal policy by sticking by his former finance minister. But some investors said the…
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AUDUSD Technical Analysis – The price action remains rangebound
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Basic Overview The US dollar started the week on a weaker note as the new month began. Last week’s strength may have been driven more by end-of-quarter flows than anything fundamental as economic data did not change interest rate expectations. However, the data should continue to support risk appetite amid…
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Analysis-Scientists wary of bird flu pandemic ‘unfolding in slow motion’ By Reuters
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By Julie Steenhuysen and Jennifer Rigby CHICAGO/LONDON (Reuters) – Scientists tracking the spread of bird flu are increasingly concerned that gaps in surveillance could leave them several steps behind a new pandemic, Reuters interviews with more than a dozen leading disease experts showed. Many have been monitoring the new H5N1…
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Dollar dips ahead of payrolls; euro gains on French poll results By Investing.com
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Investing.com – The U.S. dollar was lower in early European trade on Monday ahead of this week’s key employment report, while the euro rose after the first round of voting in France’s election. At 05:30 ET (09:30 GMT), the dollar index, which tracks the greenback against a basket of six…
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Asia markets mostly rise as traders digest mixed Chinese PMI, other region’s economic data
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primeimages/E+ via Getty Images Stock markets in the Asia-Pacific region started the second half of the year on a positive note as investors digested mixed Chinese PMI data, and the data showed that confidence among large Japanese manufacturers improved to a two-year high in the second quarter amid… Improving economic…
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UK June final manufacturing PMI 50.9 vs 51.4 prelim
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It’s a slight downward revision from the flash reading but still reaffirms marginal growth in the UK manufacturing sector. Both output and new orders continued to expand for the second month running. However, price pressures remain stubborn with input cost inflation hitting a 17-month high. This is a worrying sign…
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European stocks rally after first round of French vote By Reuters
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(Reuters) – European shares rose on Monday, with French stocks leading the rally after the far-right National Rally party made historic gains in the first round of parliamentary elections, but by a smaller margin than some opinion polls had suggested. France’s blue chips rose 2.6% to lead gains among regional…
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Market Outlook for the Week of 1st – 5th July
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On Monday, the most important event will be the release of the ISM Manufacturing PMI and ISM Manufacturing Prices for the US. On Tuesday, the euro area will publish preliminary core CPI y/y and preliminary CPI y/y estimates. In addition, ECB President Lagarde and Fed Chair Powell will participate in…
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May jobs data in the limelight By Investing.com
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The index jumped on Friday, posting its best session of the year, as investors closed out a strong month after the Federal Reserve’s preferred inflation gauge met expectations. The Dow Jones Industrial Average rose 574.84 points, or 1.51%, to 38,686.32 points, thanks to gains in shares of Salesforce and UnitedHealth,…
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Asia FX muted after mixed China PMIs, dollar dips as rate cut bets grow By Investing.com
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Investing.com — Most Asian currencies held tight ranges on Monday, as sentiment toward the region was weighed down by weak Chinese trade data, while the dollar fell amid some growing bets on interest rate cuts. A sharp downward revision to Japan’s first-quarter GDP growth also kept sentiment towards Asia largely…
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ForexLive Asia-Pacific FX news wrap: EUR/USD gapped higher (not a huge gap)
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The Chinese President says he is ready to work with Australia European Central Bank President Lagarde speaks on Monday Bitcoin is back above $63,500 China Caixin Manufacturing PMI June 2024 51.8 (FX: 51.2, Previous: 51.7) Australian Special Inflation Survey, June 2024: +0.3% m/m (previously +0.3%) Roaring Kitty sued for securities…
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ForexLive Asia-Pacific FX news wrap: EUR/USD gapped higher (not a huge gap)
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The Chinese President says he is ready to work with Australia European Central Bank President Lagarde speaks on Monday Bitcoin is back above $63,500 China Caixin Manufacturing PMI June 2024 51.8 (FX: 51.2, Previous: 51.7) Australian Special Inflation Survey, June 2024: +0.3% m/m (previously +0.3%) Roaring Kitty sued for securities…
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Asia stocks stutter, euro gains after first round vote in France By Reuters
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Written by Ankur Banerjee SINGAPORE (Reuters) – Asian stocks were mixed on Monday as traders weighed the outlook for U.S. interest rates, while the euro rose after the far-right won a smaller share of the vote in the first round of a surprise snap election in France than some polls…
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Euro rises after France’s first-round vote, yen struggles By Reuters
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By Ray Wee SINGAPORE (Reuters) – The euro rose on Monday after the first round of snap elections in France put the far right in front, albeit by a smaller margin than expected, while a cut in Japan’s first-quarter growth figures sent the yen lower. Exit polls in France showed…
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Japan final manufacturing PMI for June 50.0 (prior 50.4)
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S&P Global Manufacturing PMI for June 2024 Reaches 50.0 Previous 50.4 The initial was 50.1. From comment to report: “It is worth noting that the latest PMI data revealed the first rise in Japanese factory output in more than a year, and a recovery in business confidence. Although employment continued…
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Exclusive-Boeing agrees to buy Spirit Aero for $4.7 billion, sources say By Reuters
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Written by Mike Stone and Alison Lambert WASHINGTON (Reuters) – Boeing Co agreed on Sunday to acquire Spirit AeroSystems for more than $4 billion, two people familiar with the matter said, ending months of talks on a deal that the U.S. planemaker hopes will help ease a mounting safety crisis.…