Category: Markets
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Asia FX muted as dollar firms before PCE data; yen on intervention watch By Investing.com
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Investing.com — Most Asian currencies remained range-bound on Friday, with the dollar holding near two-month highs ahead of key inflation data likely to weigh on the Federal Reserve’s interest rate outlook. The dollar’s strength has pushed the Japanese yen further below levels traders initially expected would attract government intervention. Mixed…
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Chart Art: Is WTI Crude Oil (USOIL) Ready For Another Leg Higher?
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US crude oil prices look poised to break a technical consolidation level. Will this lead to another rally for the commodity? The 4-hour chart may give us more clues: Crude Oil WTI (USOIL) 4 hours Chart by TradingView WTI Crude Oil (US Crude Oil Prices) currently has candles above $82.00,…
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Forexlive Asia-pacific FX news wrap 28 Jun: Presidential debate was a nothing burger
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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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Fujifilm once struggled to sell cameras. Now, it can’t keep up with demand By Reuters
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Written by Rocky Swift TOKYO (Reuters) – For many years, Japan’s Fujifilm has moved away from the legacy camera business to focus on health care. But thanks in large part to TikTok’s audience, its retro-themed X100 digital cameras are now a massive hit, boosting its bottom line. Fujifilm is having…
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Japan issues fresh warnings against sharp yen falls By Reuters
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Written by Kentaro Sugiyama and Laika Kihara TOKYO (Reuters) – Japanese authorities will take necessary measures on currencies, Finance Minister Shunichi Suzuki said on Thursday, signaling a willingness to intervene in the foreign exchange market after the yen fell to a fresh 38-year low against the dollar. “It is desirable…
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U.S. Final Q1 GDP, Durable Goods Orders, And Initial Jobless Claims Reports Showed Weaknesses
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The final reading for Uncle Sam’s growth in the first quarter of 2024 came in at 1.4%, higher than the second estimate of 1.3% but still below the advanced reading of 1.6%. Data from the Bureau of Economic Analysis indicate that weakness in primary metals (for durable goods manufacturing) and…
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U.S. Final Q1 GDP, Durable Goods Orders, And Initial Jobless Claims Reports Showed Weaknesses
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The final reading for Uncle Sam’s growth in the first quarter of 2024 came in at 1.4%, higher than the second estimate of 1.3% but still below the advanced reading of 1.6%. Data from the Bureau of Economic Analysis indicate that weakness in primary metals (for durable goods manufacturing) and…
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Today’s economic calendar 28 June 2024
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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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South Korea’s Naver-backed Webtoon shares jump about 14% in Nasdaq debut By Reuters
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Written by Arasu Kannagi Basil and Joyce Lee (Reuters) – Shares of online comics platform Webtoon Entertainment surged as much as 14.3% above their initial public offering price in their Nasdaq debut on Thursday. The stock opened at $21.30, giving the company a valuation of $2.71 billion, and traded as…
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EUR/USD may face parity risk amid bumpy political backdrop ahead By Investing.com
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Investing.com – The euro has struggled recently as political uncertainty in Europe returns, but events across the pond in the U.S. could have a bigger impact, potentially pushing the euro toward parity against the dollar if the Trump White House pursues aggressive protectionist trade policies. “We expect EUR/USD (and many…
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Another mixed session for commodities
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It was another mixed session for commodities. Energy: Oil saw a notable increase in trading by more than 1% while natural gas fell by almost the same amount. Precious Metals: Gold and silver rebounded well while platinum traded down more than 2%. Commodity performance Getting a solid reading on commodities…
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L’Oreal adjusts global beauty forecast amid China’s market volatility By Investing.com
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Investing.com – Analysts at Evercore highlighted L’Oreal’s (EPA:) decision to revise its global cosmetics market growth forecast from 5.0% to a range of 4.5-5.0%. The revision comes in response to market volatility in China and a “slightly negative” shopping festival on 6.18. L’Oréal shares fell following the announcement from CEO…
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US dollar rally unlikely to be sustained going forward
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Investing.com – Demand for the U.S. dollar has picked up recently, with the dollar hovering near its highest level this year. However, the rally is unlikely to continue in the coming months, according to UBS. At 08:05 ET (12:05 GMT), the dollar index, which tracks the greenback against a basket…
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Landlords are on edge over the housing market’s insurance shock
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The housing world doesn’t need another problem, but it has one: insurance. The insurance landscape is changing, and property insurance companies are either capping the number of policies they write, are more stringent in underwriting, refuse to write new policies altogether, are fleeing altogether, or are raising interest rates. California…
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Fed’s Bowman: We’re not at a point yet to consider a rate cut
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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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Medexus Pharmaceuticals posts record annual revenue By Investing.com
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Medexus Pharmaceuticals (MDP.V) has announced a record revenue of $113.1 million for the fiscal year 2024, along with a positive adjusted EBITDA of $19.5 million. Despite a decrease in revenue and gross profit for the fourth quarter, the company remains optimistic about the future, particularly with the potential approval of…
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South African rand drops on reported discord over cabinet posts By Reuters
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Written by Tanwar Anders JOHANNESBURG (Reuters) – The South African rand fell sharply on Thursday after media reports of a major rift between the pro-business Democratic Alliance party and President Cyril Ramaphosa over ministerial positions. At 1527 GMT, the rand was trading at 18.48 against the dollar, down 1.7% from…
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June US KC Fed manufacturing index -11 vs -1 prior
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The previous one was -1 The composite index is -8 versus the previous -2 “It is clear that inflation has forced the customer to make ‘either/or’ decisions on how to spend their money. We see that the value-added elements of the food sector are severely affected. Our business is not…
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OpenAI signs multi-year content deal with Time magazine By Reuters
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(Reuters) – Time magazine has signed a multi-year content deal with OpenAI that will give the maker of ChatGPT access to its archive of news content, the companies said on Thursday. In response to user inquiries, the two companies added in a statement that the chatbot will cite the original…
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A Balancing Act By Investing.com
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The Indian Rupee (INR) has been under the vigilant watch of the Reserve Bank of India (RBI), which has focused on maintaining stability and reducing volatility. Although this strategy is effective in the short term, it has its complications and potential consequences in the long term. The Reserve Bank of…