Category: Markets
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RBA’s Kent says recent data reinforce need to be vigilant to upside inflation risks
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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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PetroChina to pay $14.5 million fine for US export violations, DOJ says By Reuters
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WASHINGTON (Reuters) – PetroChina International America, a unit of PetroChina, has agreed to pay a fine and forfeiture totaling $14.5 million for violating U.S. export law, the U.S. Justice Department said on Tuesday. The US Attorney’s Office for the Southern District of Texas said in a press release that authorities…
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Dollar edges higher; inflation data and political debate loom By Investing.com
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Investing.com – The US dollar rose on Tuesday, as safe havens benefited from weakness on Wall Street, although gains were limited ahead of key inflation data later in the week. At 04:20 EDT (08:20 GMT), the dollar index, which tracks the US currency against a basket of six other currencies,…
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Shares of Nvidia surge nearly 7% to lead tech rebound
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There’s a guy on Nvidia right now talking about NVDA at a $6 trillion valuation, and he’s not the kind of guy you see at the bottom… However, today stocks are up almost 7% in a huge rebound that almost erases yesterday’s drop. The rebound came from just above the…
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CDK dealer software unlikely to be restored before June end, memo says By Reuters
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Written by Nora Eckert and Nathan Gomez (Reuters) – CDK Global (NASDAQ:) does not expect to restore the ongoing outage caused by a cyber attack in its dealer management software, which is used by dealers across the United States, before the end of the month, according to a memo seen…
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Japan to respond appropriately to excessive yen volatility, official says By Reuters
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Written by Kentaro Sugiyama and Makiko Yamazaki TOKYO (Reuters) – Japanese Chief Cabinet Secretary Yoshimasa Hayashi said on Tuesday that authorities will respond appropriately to excessive currency fluctuations, in a new warning as the yen weakens towards 160 yen to the dollar. Hayashi, a top government spokesman, told reporters that…
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What is the Sahm rule and why it matters
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Federal Reserve Governor Lisa Cook spoke today and stressed that unemployment is at a low level. Objectively, this is true: Unemployment rate in the United States But I want to highlight the far right side of the chart because of the arrow rule. It is named after economist Claudia Sahm…
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S.African rand slips as cabinet announcement appears nearer By Reuters
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JOHANNESBURG (Reuters) – The South African rand fell in choppy trade on Tuesday as comments from the unity government’s two largest parties suggested a government announcement by President Cyril Ramaphosa was nearing. The currency fell about 0.3 percent to 18.16 to the dollar by 1220 GMT, adding to its losses…
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Another sign that US consumers are swimming in problems
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If you don’t know Pool Corporation, they are one of the best pool companies out there. They specialize in swimming pool supplies, equipment and products, securing the entire industry. It has been one of the top 20 U.S. stocks for decades, riding the wave of housing investment and the demographic…
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LVMH Chief Arnault owns stake in luxury rival Richemont, Bloomberg reports By Reuters
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ZURICH (Reuters) – French billionaire Bernard Arnault, Europe’s richest man and head of the high-end fashion division of champagne group LVMH, has bought a stake in smaller luxury goods rival Richemont, Bloomberg reported on Tuesday. The exact size of the Cartier jewelery owner’s shareholding and Arnault’s intentions are unclear, the…
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Dollar reined in by threat of Japanese intervention, yen fragile By Reuters
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Written by Amanda Cooper LONDON (Reuters) – The dollar fell below a key 160 yen level on Tuesday, as fears of interference by Japanese officials kept traders from severely punishing the yen against any other currencies. Elsewhere, analysts said bitcoin recovered some of its losses after its worst day in…
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Fed’s Bowman: not yet at the point where it is appropriate to cut rates
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We have not yet reached the point where it is appropriate to lower interest rates. If the data shows that inflation is moving sustainably to 2%, a gradual rate cut will eventually become appropriate. Baseline expectations remain that inflation will return to 2% with interest rates remaining steady for some…
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US dollar’s dominance secure, BRICS see no progress on de-dollarization -report By Reuters
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Written by Andrea Shalal WASHINGTON (Reuters) – A new study by the Atlantic Council’s Center for Geo-Economics showed that the US dollar is still the world’s main reserve currency, and neither the euro nor the so-called BRICS countries have been able to reduce global dependence on the dollar. The group’s…
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US dollar’s dominance secure, BRICS see no progress on de-dollarization -report By Reuters
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Written by Andrea Shalal WASHINGTON (Reuters) – A new study by the Atlantic Council’s Center for Geo-Economics showed that the US dollar is still the world’s main reserve currency, and neither the euro nor the so-called BRICS countries have been able to reduce global dependence on the dollar. The group’s…
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FP Markets Adds Two More Industry Benchmark Awards to Its Collection
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Expanding its winning streak, multiple global assets Forex And CFDs mediator, FP Markets, was crowned “Most Transparent Broker” and also received the “Best Trading Conditions” award for the second year in a row at the highly anticipated 2024 Global Ultimate Fintech (UF) Awards. After receiving the “Most Trusted Broker” award…
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S.Korea battery maker apologises for deadly fire but says it complied with safety rules By Reuters
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Written by Hyunsoo Yim, Dojeon Kim, and Daewong Kim HWASEONG, South Korea (Reuters) – The CEO of a South Korean lithium battery maker apologized on Tuesday after a massive factory fire killed 23 workers, but said the company had adhered to all required safety precautions and training. The fire, which…
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India digital currency transactions slump after reaching initial central bank target, sources say By Reuters
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Written by Jaspreet Kalra MUMBAI (Reuters) – Use of India’s digital currency, the e-rupee, has fallen to a tenth of its December peak, four sources said, reflecting the difficulties many countries have faced trying to rally public support for digital currencies. The Reserve Bank of India began a pilot of…
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Eurostoxx futures -0.4% in early European trading
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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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Goldman Sachs bullish on China shareholder returns By Investing.com
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Investing.com — A trend of increasing shareholder returns among Chinese companies, especially through dividends and buybacks, is taking shape in China, Goldman Sachs analysts wrote in a note. GS said it was bullish on the issue of shareholder returns in Chinese stocks, noting that the trend had been a “rewarding…