Category: Markets
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Chinese yuan softens, USDCNY at 7-mth high on weak fix, trade jitters By Investing.com
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Investing.com — The Chinese yuan fell on Tuesday, with the key USD/CHN yuan pair hitting a seven-month high after a weak mid-term reform by the People’s Bank of China, while concerns about the trade war with the West were also present. The yuan pair, which measures the number of yuan…
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Daily Broad Market Recap – June 24, 2024
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Market correlations appear to be stalling so far this week, as commodities rose while stocks and Bitcoin fell. What’s up with that? How did the rest of the asset classes perform? Titles: New Zealand trade balance for May It went from a deficit of 3 million New Zealand dollars to…
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BofA expects a Dec rate cut from Fed
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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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US says seven airlines eligible to apply for new daily Washington flights By Reuters
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Written by David Shepardson WASHINGTON (Reuters) – Seven major airlines are eligible to apply for five new daily round-trip flights from Washington’s Reagan National Airport, the U.S. Department of Transportation said on Monday. On May 16, President Joe Biden signed legislation creating new flights at the busy airport in Arlington,…
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Downside potential in play for GBPNOK?
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Rationale for buying the Norwegian krone: The Norwegian Bank is one of the last central banks likely to cut interest rates. The bank’s decision to keep interest rates unchanged, coupled with rising inflation and wage growth expectations, indicates a hawkish stance. The Norwegian krone is undervalued, and the Norwegian Bank’s…
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Analysis-China’s retail outlook dims after mid-year shopping festival flop By Reuters
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By Casey Hall SHANGHAI (Reuters) – China’s retailers face a difficult near-term future after a disappointing mid-year online shopping festival that cast a shadow over the recovery prospects of the world’s second-largest economy. E-commerce sales fell for the first time during the so-called 618 Festival that ended last week, reports…
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Interesting strength for EUR at the start of the week
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Both the Euro and European stocks outperformed their US counterparts yesterday. OAT/Bund spreads showed some calm yesterday, with the spread falling by 4 basis points from 0.76% to 0.72%. With the early French elections approaching on Sunday, markets have already priced in a fair amount of risk premium on the…
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Pool Corporation sheds 11.6% after-hours, adjusts 2024 earnings guidance By Investing.com
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Investing.com – Pool Corporation (NASDAQ:) fell more than 11% in after-hours trading Monday as the company revised its 2024 earnings guidance amid slowing demand during pool season. For the year-to-date period, Pool Corporation’s sales are down approximately 6.5% compared to the same period in 2023. This is largely due to…
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Stock market wrap: Nvidia ends the day more than 6% lower
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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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Rite Aid defeats MedImpact in $200 million Elixir sale dispute By Reuters
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Written by Dietrich Knuth NEW YORK (Reuters) – MedImpact’s attempt to recover about $200 million in connection with its purchase of Rite Aid’s (NYSE:) pharmacy benefits unit failed after a judge ruled on Monday that it assumed Elixir’s debt when it bought the company. U.S. Bankruptcy Judge Michael Kaplan, at…
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Fed’s Daly: Bumpiness of inflation data so far this year has not inspired confidence
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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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Stock market has a bad breadth problem By Investing.com
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The stock market faces a “bad breadth problem,” according to analysts at Yardeni Research. Initially, the problem appeared to be related to the superior performance of the Magnificent-7 missile, analysts explained in a note. However, the focus has now narrowed to one prominent company: Nvidia (NASDAQ:). This shift in market…
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Japan warns against rapid FX moves, reiterates readiness for action By Reuters
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Written by Makiko Yamazaki and Yoshifumi Takemoto TOKYO (Reuters) – Japan is always ready to take action against excessive market moves, Tokyo’s chief currency diplomat Masato Kanda said on Monday, as the yen fell to nearly 160 yen to the dollar, sparking market caution about the possibility of new intervention.…
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ICYMI: Goolsbee says it’s worth wondering where we are on our restrictiveness scale
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Highlights what ‘appears to be a cooling in consumer spending’ It is worth asking where we are on our restriction scale If we get more ‘months’ like the last one in terms of inflation, coupled with more weak data, you’ll have to start wondering where we should be on interest…
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US Supreme Court takes up ‘Dewberry’ trademark dispute By Reuters
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Written by Blake Brittain WASHINGTON (Reuters) – The U.S. Supreme Court on Monday agreed to decide a $43 million dispute between two real estate companies – one in Virginia and one in Georgia – over the rights to the “Dewberry” name in a case exploring when the court can award…
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Dollar slips; yen briefly jumps as intervention worries linger By Reuters
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By Samuel Indyk and Ankur Banerjee LONDON (Reuters) – The dollar fell slightly on Monday but remained close to the highest level in about eight weeks, while the yen jumped briefly as it approached the 160 level that had earlier sparked verbal warnings from Japanese authorities. The yen fell to…
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ForexLive European FX news wrap: Yen edgy to start the week
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Titles: Markets: Euro advances, US dollar lags during the day European stocks rise; S&P 500 futures rise 0.1% US 10-year bond yields rose 0.8 basis points to 4.265%. Gold rose 0.2% to $2,325.58 West Texas Intermediate crude rose 0.3% to $80.97 Bitcoin fell 4.9% to $61,023 It’s been a quiet…
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Chance of ‘Roaring ’20s’ outcome for US economy growing By Investing.com
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Despite the slowdown in the US economy, UBS believes that the chance of a ‘Roaring Twenties’ outcome is already increasing. “The hype is getting a little louder,” the bank says, with longer-term trends still in line with their criteria for such a prosperous decade. These criteria include real GDP growth…
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Dollar slips off highs ahead of PCE data, euro sees some support By Investing.com
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Investing.com – The US dollar fell on Monday, holding on after rising to an eight-week high last week, while the euro rose despite weak German business sentiment. At 05:25 ET (09:25 GMT), the dollar index, which tracks the greenback against a basket of six other currencies, was down 0.2% at…
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Nvidia is ‘in a league of its own,’ BTIG says By Investing.com
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Nvidia (NASDAQ:) stock is in a “league of its own,” BTIG analysts said in a note issued Sunday. The chipmaker’s shares recently traded nearly 100% above its 200-day moving average (DMA). According to BTIG, this is unprecedented, as the largest spread any US company has ever traded above the 200…