Category: Markets
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US stocks keep climbing higher but J.P. Morgan’s Kolanovic is having none of it
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JP Morgan strategist Marko Kolanovic made his name as a market structure analyst, but at one point he parlayed his fame into a job as an equity strategist, and it didn’t go well, considering his bearish stance hit a roaring bull. market. However, he does not hesitate and writes today:…
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US Supreme Court to hear Nvidia bid to scuttle shareholder lawsuit By Reuters
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Written by John Crozel WASHINGTON (Reuters) – The U.S. Supreme Court on Monday agreed to hear a request from Nvidia Inc (NASDAQ:) to thwart a securities fraud lawsuit accusing the artificial intelligence chip maker of misleading investors about how much of its sales went into the volatile cryptocurrency industry. The…
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EURUSD tests broken swing area between 1.0720 and 1.0735
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EURUSD is testing a swing zone between 1.0720 and 1.0735 EURUSD fell below the swing zone on Friday between 1.0720 and 1.0735. The selling intensified, and the low price moved towards 1.0666 before bouncing back at Friday’s close. Today, the initial move was to the downside in the Asian session,…
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Appeals court to hear challenges to potential US TikTok ban on Sept. 16 By Reuters
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Written by David Shepardson WASHINGTON (Reuters) – A U.S. appeals court said on Monday it will hold oral arguments on Sept. 16 on legal challenges to a new law requiring China-based ByteDance to divest TikTok’s U.S. assets by Jan. 19 or face a ban. On May 14, a group of…
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Dollar stays strong, political uncertainty saps euro By Reuters
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Written by Brigid Riley and Amanda Cooper TOKYO/LONDON (Reuters) – The dollar steadied on Monday, while the euro traded near its lowest levels in more than a month, as political turmoil in Europe increased the level of uncertainty among traders, while investors awaited more data to gauge the euro’s strength.…
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3 Takeaways From Federer’s Dartmouth Speech That Also Apply to Trading
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In case you’ve been living under a rock, you’ve probably seen a clip or at least caught excerpts of Roger Federer’s commencement speech at Dartmouth University. While his advice to graduates applies to life in general, some of the “tennis lessons” he shared are also relevant to trading. Here are…
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The EUR is the strongest and the NZD is the weakest as the NA session begins
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From strongest to weakest among major currencies The Euro is the strongest and the New Zealand Dollar is the weakest as the North American session begins. The US dollar starts the new trading week – heading into the US session – mostly stronger. The dollar only fell against the euro.…
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US equities upgraded on ‘growth-oriented’ nature By Investing.com
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Citi analysts downgraded European stocks to neutral and upgraded their stance on the US in their latest global equity strategy note. Given rising political risks and narrowing market leadership in Europe, they view the US as a more attractive option in the near term due to its “growth-oriented” nature and…
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NZDUSD Technical Analysis – The price is getting closer to a key support
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Basic overview Last week, the US dollar lost strength across the board after the weak US CPI report, with the market cutting interest rates twice by the end of the year. The moves were reversed soon after as we got a slightly tougher than expected decision from the FOMC as…
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European shares rise as tech, banks rebound By Reuters
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Written by Shashwat Chauhan and Jesús Calero (Reuters) – European shares rose on Monday, with banking and technology shares rebounding from last week’s losses after political uncertainty in France sent markets into a panic, while Danish insurer Topdanmark rose on a takeover bid by Sambo. By 0816 GMT, the euro…
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Currencies consolidate as dollar steadies, euro hangs near one-month low By Reuters
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Written by Brigid Riley TOKYO (Reuters) – The dollar rose on Monday as the euro hovered near the lowest level in more than a month amid political turmoil in Europe, while investors awaited new signs of the strength of the U.S. economy. Investors are weighing the risk of a budget…
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What are the main events for today?
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Today is likely to be one of those Mondays where price action can swing up and down for no apparent reason due to the lack of catalysts. These days it is generally better to conserve capital and refrain from trading. The only highlights on the agenda include a lot of…
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Australia’s Tabcorp appoints former AFL boss Gillon McLachlan as CEO By Reuters
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(Reuters) – Australian gambling services company Tabcorp Holdings on Monday appointed former Australian Football League (AFL) president Gillon McLachlan as its chief executive and managing director. The appointment comes months after former president Adam Rettenskilde resigned over allegations of using “offensive” and “inappropriate” language in the workplace and as the…
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A couple of light releases to move things along in the session ahead
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There will be a fair number of major risk events this week, but most of them will be in the coming days. Major central bank meetings are back in session, with the Reserve Bank of Australia, the Swiss National Bank and the Bank of England on the agenda. But for…
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SK Group to protect affiliates from hostile takeover after chairman’s divorce ruling By Reuters
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Written by Joyce Lee SEOUL (Reuters) – South Korea’s SK Group Chairman Chi Tae-won said on Monday the group would prevent the outcome of his latest ruling on a divorce push from leaving SK companies vulnerable to a hostile takeover or other problems. The Seoul High Court ruled in late…
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Starboard Value buys $500M stake in Autodesk, urges operational changes
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Investing.com – Activist investor Starboard Value has taken a roughly $500 million stake in the design software maker Autodesk Corporation (NASDAQ:) is now calling for changes within the company, according to the Wall Street Journal. Starboard has reportedly held meetings with Autodesk executives in the past few weeks to express…
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Starboard Value buys $500M stake in Autodesk, urges operational changes
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Investing.com – Activist investor Starboard Value has taken a roughly $500 million stake in the design software maker Autodesk Corporation (NASDAQ:) is now calling for changes within the company, according to the Wall Street Journal. Starboard has reportedly held meetings with Autodesk executives in the past few weeks to express…
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New Zealand Dollar forecasts revised lower
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New Zealand Institute of Economic Research’s (NZIER) latest report on consensus forecasts. Full text here. For the Kiwi dollar: Their broader summary of the New Zealand economy, saying the latest NZIER consensus forecast: Another downward revision to growth forecasts for next year appears Average annual GDP growth forecasts for the…
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Temasek to invest up to $198 million in Australian ETF manager Betashares By Reuters
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(Reuters) – Singapore-based investment firm Temasek Holdings said on Monday it will invest up to A$300 million (US$198.4 million) in Australian exchange-traded fund manager BetShares. The funding is expected to expand Betashares’ offering in Australia and overseas, it said in a statement. With this investment, Temasek will own an undisclosed…
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Reserve Bank of Australia meet Monday & Tuesday, likely cash rate hold @ 4.35%, 12 yr high
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The Reserve Bank of Australia meets today and tomorrow, Monday 17 June 2024 and Tuesday 18 June 2024. The bank’s decision is scheduled to be issued at 2.30pm Sydney time on Tuesday This is 0430 GMT and 0030 EST RBA Governor Bullock will hold her press conference an hour later,…