Category: Markets
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Implied odds of a Fed pause in November rise to 22% after Bostic. Euro hits two-month low
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The US dollar jumped after Atlanta Fed President Rafael Bostic signaled he was open to a pause in November if data supports it. “I’m completely comfortable skipping a meeting if the data suggests that’s appropriate,” he told The New York Times. Wall Street Journal. With this, the implied odds of…
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Toronto Dominion Bank stock sinks on report of massive U.S. fine By Investing.com
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Toronto Dominion Bank (NYSE:) stock price fell more than 5% on Thursday following reports of an upcoming $3 billion settlement related to anti-money laundering practices in the United States. According to the Wall Street Journal, citing sources familiar with the matter, TD’s US unit is expected to plead guilty to…
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Russian rouble hits one-year lows against major currencies By Reuters
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MOSCOW (Reuters) – The Russian ruble fell further on Thursday, remaining at its lowest level against the U.S. dollar since October 2023. At 0740 GMT, the ruble fell 0.4% to 97.40 against the dollar, London Stock Exchange data showed. On Wednesday, the ruble reached the 97 level for the first…
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USDCAD trend move higher continues. Pair is up near 300 pips in a week. What next?
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The US dollar has risen against the Canadian dollar over the past week, with the pair rising nearly 300 pips in one week of trading. This is a big move in a short period of time as the market is heading towards the upside. For a basic look at price…
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Dollar steady ahead of key inflation data By Investing.com
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Investing.com – The US dollar held near a seven-week high on Thursday ahead of the headline inflation report, while the euro remained near recent lows. At 04:15 EDT (08:15 GMT), the dollar index, which tracks the US currency against a basket of six other currencies, was trading largely unchanged at…
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US initial jobless claims 258K vs 230K estimate
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The previous week 225 thousand Initial jobless claims are 258,000 vs. 230,000 estimated The four-week moving average of initial jobless claims was 231K vs. 224.25K The previous week’s continuing claims of 1.826 million were revised to 1.819 million Continuing claims 1.861 million vs. 1.830 million estimate 4-week moving average for…
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5 reasons why Robinhood stock is breaking out By Investing.com
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According to Bernstein analysts, while Robinhood’s (NASDAQ:) rise in 2021 was tied to its zero interest rate policy (ZIRP), the platform is now benefiting from a “peak interest rate policy” (PIRP) as rates begin to decline. “HOOD not only survived the winter, but is now evolving into a sustainable company…
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New Zealand dollar has further to fall
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Investing.com – The New Zealand dollar fell after the Reserve Bank of New Zealand cut interest rates earlier this week, and UBS expects the currency to fall further against the US dollar. The Reserve Bank of New Zealand cut its policy rate by 50 basis points to 4.75% at its…
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Daily Broad Market Recap – October 9, 2024
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A lack of fresh market catalysts kept major assets in ranges early in the day, before central bank speculation and positioning ahead of US CPI reports increased volatility in the US session. Which assets have seen the most movement? We discuss yesterday’s market headlines and price reactions! Titles: The Reserve…
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Whales Put $100B into BTC: Is a Rally Coming?
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Bitcoin (BTC) is attracting attention with new whale transactions and rising ETF inflows. Recently, more than $100 billion has been pumped into Bitcoin by large players, known as whales. Could this mean a new high in BTC prices? In this article, we’ll explain how these inflows could change the market,…
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GSK shares jump after settlement of 80,000 Zantac lawsuits in U.S By Reuters
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(Reuters) – GlaxoSmithKline shares rose 6 percent on Thursday after the British drugmaker agreed to pay up to $2.2 billion to settle lawsuits in the United States alleging that the discontinued heartburn drug Zantac causes cancer. The agreement, announced on Wednesday, was well below some analysts’ estimates, including JPMorgan’s forecast…
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Dollar hits 10-week high vs yen as Fed easing bets ebb ahead of CPI By Reuters
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Written by Kevin Buckland TOKYO (Reuters) – The U.S. dollar rose to a 10-week high against the yen on Thursday as markets grew more confident about the Federal Reserve’s patient approach to further monetary easing, even as a key inflation report was due later. today. The index, which measures the…
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Chart Art: WTI Crude Oil (USOIL) Triangle Resistance Bounce
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Are crude oil bears about to stay in the game longer? A look at the daily time frame of the energy commodity shows a large bearish triangle pattern that has been in place since November of last year. WTI (USOIL) daily Chart by TradingView Earlier this week, we looked at…
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US inflation the main event in the day ahead
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Core US CPI YoY (%) So, what did I miss? The dollar remained well positioned over the past week as traders agreed to price in the Fed’s 25 basis point interest rate cut for November now. The soft landing scenario seems more and more certain every day. The odds of…
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Former Pfizer executives not involved in Starboard’s campaign against drugmaker By Reuters
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(Reuters) – Pfizer (NYSE:) former CEO and Chairman Ian Read and former CFO Frank D’Amelio said in a statement that they will not partner with activist investor Starboard Value, which wants the US pharmaceutical giant to make changes to turn around its performance. “We fully support Pfizer Chairman and CEO…
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September FOMC Minutes: 25bps Cut Was On The Table, Members Reject Pre-Set Path
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This was revealed in the minutes of the September decision A “large majority” voted in favor of a 50 basis point rate cut to the target range of 4.75% – 5.00%, mostly because it would raise interest rates to “Better alignment with recent inflation and labor market indicators. It may…
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PBOC is expected to set the USD/CNY reference rate at 7.0734 – Reuters estimate
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The People’s Bank of China is scheduled to release the USD/CNY reference exchange rate at approximately 0115 GMT. The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as the renminbi or renminbi). The People’s Bank of China follows…
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US stock index futures flat with CPI data in focus By Investing.com
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Investing.com — U.S. stock index futures were slightly lower in overnight trade on Wednesday, as investors braced for key consumer inflation data likely to weigh on interest rate expectations. Futures settled after a positive session on Wall Street, with the Dow Jones hitting record highs after minutes from the Federal…
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Asian Stocks to Rally as US Record High Lifts Mood: Markets Wrap
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Breadcrumb links BMN Business Asian shares are poised to advance on Thursday after US stocks hit a new high ahead of inflation data that could determine the Federal Reserve’s policy easing in the coming months. Article writer: Bloomberg News Richard Henderson Published on October 09, 2024 • 3 minutes read…
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Column-Dollar won’t fall as rest of world won’t let it: Mike Dolan By Reuters
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Written by Mike Dolan LONDON (Reuters) – The dollar had its best week in two years, showing once again how risky it is to bet against the greenback if the rest of the world doesn’t let it slide. The DXY index, which measures the value of the dollar against the…