Category: Markets
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Amazon lures cofounders from startup Adept to bolster AI efforts By Reuters
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By Greg Bensinger and Crystal Ho (Reuters) – Amazon.com Inc has hired the founders and some of its team members of artificial intelligence startup Adept, a move that mirrors rival Microsoft Corp (NASDAQ:MSFT.O), as it seeks to combat the perception that it is playing catch-up in AI. Adept said in…
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At the close: S&P 500 reverses lower after touching a fresh record high
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SPX daily Closing changes: The S&P 500 fell 0.4%. Nasdaq down 0.7% Russell 2000 +0.1% Dow Jones Industrial Average -0.1% Toronto TSX Companies -0.5% The S&P 500 closed the first half of the year up 14%, but today’s pullback from its all-time high is somewhat ominous. Against this backdrop, however,…
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US Treasury finalizes new crypto tax reporting rules By Reuters
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Written by Hannah Lange (Reuters) – The U.S. Treasury Department finalized a rule on Friday that would require cryptocurrency brokers, including exchanges and payment processors, to report new information about user sales and exchanges of digital assets to the Internal Revenue Service. The new requirements are aimed at cracking down…
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Forexlive Americas FX news wrap: Benign PCE report collides with tumultuous politics
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Markets: Gold falls $3 to $2,342 US 10-year bond yields rose 9.8 basis points to 4.39% West Texas Intermediate crude fell 19 cents to $80.64. S&P 500 index falls 0.4% Australian Dollar Advances, Yen Lags Friday was the last day of the quarter, and this made drawing conclusions difficult. It…
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4 scenarios for the markets By Investing.com
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Investing.com – In the first U.S. presidential debate, held on Thursday night, June 27, incumbent Democratic President Joe Biden failed to convince the audience that he has the ability to continue leading the world’s largest economy for a second term. Quite the opposite. The encounter was more positive for Republican…
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MUFG: EUR/USD outlook amid French elections and June NFP print
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Euro to US Dollar Monthly MUFG discusses the potential impact of the French elections and June’s non-farm payrolls report on EUR/USD. The focus is on the risk premium already priced into EUR/USD and how the election results could influence further moves. the main points: the current situation: Stability: The EUR/USD…
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US urges dismissal of lawsuit seeking menthol cigarette ban By Reuters
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Written by Jonathan Stemple (Reuters) – The Biden administration has asked a federal judge to dismiss a lawsuit brought by anti-smoking groups demanding an end to a nearly year-long delay and ban on menthol cigarettes, which are disproportionately used by Black people and young people. In a court filing Thursday…
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Asia FX muted as dollar nears 2-mth high; yen crosses intervention levels By Investing.com
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Investing.com – Most Asian currencies moved little on Thursday as traders remained largely biased towards the dollar in anticipation of more major US economic signals. The focus was also on possible government intervention in the Japanese yen, which broke above levels that had prompted government intervention in May. Sentiment towards…
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Fed’s Bowman: We have strong employment but haven’t quite reached our inflation goal
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High risk warning: Foreign exchange trading involves a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience and risk tolerance. You may lose some or all…
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Private credit boom drives Sixth Street hiring spree in Europe By Reuters
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Written by Sinead Cruz and Tommy Reggiore Wilkes LONDON (Reuters) – Sixth Street is embarking on the biggest European recruitment drive in its 15-year history, taking up a new regional headquarters in London’s Mayfair and adding up to 20 staff this year to focus on private credit and real estate.…
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Dollar consolidates ahead of key inflation release; yen nears intervention By Investing.com
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Investing.com – The U.S. dollar was lower in early European trade on Thursday, giving up some of the previous session’s gains, while the Japanese yen fell into intervention territory. At 04:30 EDT (08:30 GMT), the dollar index, which tracks the greenback against a basket of six other currencies, was down…
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How the 4 Stages of Loss Apply in Trading
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Although losing trades is a natural part of the trading process, it is something that many traders – both beginners and professionals – struggle with. I think the main reason why losses are so difficult to deal with is not understanding their nature and impact on trading psychology rather than…
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ForexLive European FX news wrap: Currencies lightly changed awaiting US PCE
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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 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 or…
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Russia’s VTB bank says US sanctions have complicated cross-border transactions By Reuters
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MOSCOW (Reuters) – U.S. sanctions imposed on Moscow this month have complicated foreign trade operations for Russian banks but they are gradually adapting to the new reality, the chief financial officer of Russia’s second-largest lender VTB said on Friday. On June 12, the United States imposed Ukraine-related sanctions on the…
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Dollar strengthens ahead of PCE data; euro weighed by political uncertainty By Investing.com
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Investing.com – The US dollar rose in early European trade on Friday, on track for its second straight quarterly gain, the euro fell and the Japanese yen remained on watch for intervention. At 04:00 ET (09:00 GMT), the U.S. dollar, which tracks the greenback against a basket of six other…
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Daily Broad Market Recap – June 27, 2024
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Major assets were all over the place until the US released generally weak data from the American middle class. Alternatives to the US dollar such as spot gold, crude oil and Bitcoin posted gains after the reports, although the US dollar managed to recover its losses against its foreign currency…
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EBC Financial Group Wins “Most Trusted FX Broker” and “Best CFD Broker” Awards
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EBC Financial Group (EBC) EBC is proud to announce that it has received two prestigious awards at the 2024 World Finance Awards: Most Trusted Forex Broker and Best CFD Broker. These awards reflect EBC’s unwavering commitment to transparency, regulatory compliance and exceptional customer service. This dual recognition highlights the confidence…
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Energy stocks boost European shares at open By Reuters
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(Reuters) – European stocks opened higher on Friday, as rising prices lifted energy stocks, but focus was also on the inflation reading in the United States, which may be key in gauging the path of global monetary policy. The European index rose 0.4% by 0710 GMT, after closing lower during…