Category: Markets
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Euro rises after France far-right win first round vote By Reuters
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By Yoruk Bahceli and Amanda Cooper LONDON (Reuters) – The euro hit a 10-day high on Sunday after the first round of a surprise snap election in France put the far-right in first place but provided little clarity on the final outcome, leaving investors braced for more volatility. Marine Le…
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Economic calendar in Asia 01 July 2024 – another Chinese PMI due
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Over the weekend, China’s official PMIs for June were released: Today we get the Caixin Manufacturing PMI which was privately surveyed. This remained in expansion in May despite the National Bureau of Statistics’ manufacturing PMI falling into contraction. This image is from the ForexLive economic data calendar, You can access…
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Exclusive-US pushes for Boeing to plead guilty in connection with fatal crashes, sources say By Reuters
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By Mike Spector and Chris Prentice (Reuters) – The U.S. Justice Department is pressing Boeing Co to plead guilty to a criminal charge after finding the planemaker violated a settlement over deadly 737 Max crashes in 2018 and 2019 that killed 346 people, two people familiar with the matter said…
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Japan ‘deeply concerned’ about rapid, one-sided forex moves, finance minister says By Reuters
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TOKYO (Reuters) – Japanese Finance Minister Shunichi Suzuki said on Friday that authorities were “deeply concerned” about the impact of “rapid and biased” foreign exchange movements on the economy, with the yen falling to a 38-year low above 161 yen. per dollar. Speaking at a regular news conference, Suzuki said…
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Premium Forex Watch Recaps: June 24 – 25, 2024
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Our forex strategists were feeling the comdolence this week, focusing on key inflation updates from Australia and Canada. Of the four scenario/price outlook discussions this week, Two discussions saw both financial and technical arguments raised To become a potential candidate for risk management. Check out our review of this discussion…
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Deutsche Bank appoints Laura Padovani to management board By Reuters
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FRANKFURT (Reuters) – Deutsche Bank said on Sunday it had appointed Laura Padovani to its board of directors responsible for compliance and financial crime prevention, adding a woman to the German bank’s male-dominated senior positions. The promotion of Padovani, who joined Deutsche Bank last year as head of compliance, will…
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All roads lead to the dollar By Reuters
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A look at the day ahead in the European and global markets from Rae Wee Investors closely watched the first US presidential debate between Democratic President Joe Biden and Republican challenger Donald Trump in the early hours of Friday morning in Asia, as the two clashed on stage ahead of…
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Google downgraded as Apple gets vote of confidence By Investing.com
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Investing.com – Here are analysts’ biggest moves in artificial intelligence (AI) this week. InvestingPro subscribers always get the first insights from market-moving AI analysts. Upgrade today! Rosenblatt downgraded Google stock amid heightened turnaround risks An analyst at Rosenblatt downgraded Alphabet (NASDAQ:) stock from buy to neutral, citing “multiple areas of…
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Japan names new FX diplomat as yen hits 38-year low By Reuters
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Written by Makiko Yamazaki and Satoshi Sugiyama TOKYO (Reuters) – Japan appointed a new diplomat in charge of foreign exchange on Friday as the yen fell to a 38-year low against the dollar, raising expectations of imminent market intervention by Tokyo to support the battered currency. Atsushi Mimura, a veteran…
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Jobs, inflation data may break the US Treasury market out of narrow range By Reuters
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By David Randall NEW YORK (Reuters) – A series of upcoming economic reports and testimony from Federal Reserve Chairman Jerome Powell before Congress could push U.S. government bonds out of a tight trading range. Yields on benchmark 10-year US Treasury bonds, which move inversely with bond prices, have risen between…
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South African rand rallies on hope DA and ANC can agree on cabinet posts By Reuters
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JOHANNESBURG (Reuters) – The rand rose in South Africa on Friday amid optimism that the Democratic Alliance and the African National Congress will reach an agreement on ministerial positions, a day after local media reported a major rift between the two parties. At 1503 GMT, the rand reached 18.24 against…
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Weekly Market Outlook (01-05 July)
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Upcoming events: Monday:China Caixin Manufacturing PMI, Swiss Retail Sales, US ISM Manufacturing PMI. Tuesday: Reserve Bank of Australia meeting minutes, Eurozone CPI, Eurozone unemployment rate, Canada manufacturing PMI, US jobs, Fed Chair Powell. Wednesday:Australian Retail Sales, China Caixin Services PMI, Swiss Manufacturing PMI, Eurozone PPI, US ADP, US Jobless Claims,…
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Stifel initiates on Tesla; downgrade for Alphabet By Investing.com
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Investing.com – Here’s a professional summary of the most important pieces of information Wall Street analysts said over the past week. InvestingPro subscribers always get the first guess on rating changes that move the market. Holding confirmation What happened? Goldman Sachs on Monday initiated coverage with a new analyst rating…
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Column-Dollar is only winner from China-West trade war: McGeever By Reuters
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Written by Jamie MacGyver 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 at its highest since 2018 and 2019, when tensions between the Trump administration and Beijing peaked. It…
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Rising trade policy uncertainty poses a downside risk to growth: Goldman Sachs By Investing.com
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Comments and actions on global trade policy are becoming increasingly hawkish, and a potential victory by Donald Trump in the upcoming presidential election could lead to the imposition of significant tariffs on U.S. imports, potentially leading to retaliation and escalation, according to economists at Goldman Sachs. As a result, indicators…
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US dollar slightly weaker on diminishing inflation By Reuters
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By Gertrude Chavez-Dreyfus NEW YORK (Reuters) – The U.S. dollar fell on Friday after data showed inflation in the world’s largest economy eased last month, boosting expectations that the Federal Reserve will start cutting interest rates this year. The dollar initially fell against the yen, which is the currency pair…
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Exclusive-US prosecutors meeting with Boeing, crash victims as criminal charging decision looms, sources say By Reuters
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Written by Mike Spector and Chris Prentice NEW YORK (Reuters) – U.S. prosecutors are meeting with Boeing Co and relatives of victims of the deadly Boeing plane crash as a July 7 deadline approaches for the Justice Department to decide whether to file charges, two people familiar with the matter…
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Newsquawk Week Ahead: French & UK elections, US ISM & NFP, EZ CPI, FOMC Minutes
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Sun: French Parliamentary Election Mon: Canada Day; Japanese Tankan (Q2), Japanese, Chinese Caixin, EZ, UK & US Manufacturing Final PMI (June), German Prelim. CPI (June), US ISM Manufacturing PMI (June) Tue: RBA Minutes (June), Australian & Canadian Manufacturing PMI Final (June), EZ Flash CPI (June), Unemployment Rate (May), US JOLTS…
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Nestle sees stable sales growth from Q2, CEO tells paper By Reuters
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FRANKFURT (Reuters) – Swiss food giant Nestle is targeting stable sales volume growth from the second quarter through the rest of the year as cost inflation eases, its chief executive told the Swiss weekend newspaper Schweiz am Wochenende on Saturday. “From the second quarter and the rest of the year,…
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Path, destination of interest rates more important than timing of first cut: UBS By Investing.com
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Since the beginning of 2024, investors have been primarily interested in when the Federal Reserve will start cutting interest rates. Initially, March seemed like a good time to do this, but expectations then shifted to June after a wave of unfavorable economic data. Now, for the same reasons, the first…