Category: Markets
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FedEx to cut up to 2,000 back-office jobs in Europe amid weak freight demand By Reuters
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Written by Ananta Agarwal (Reuters) – FedEx plans to cut between 1,700 and 2,000 back-office jobs in Europe, in its latest cost-cutting effort as the package delivery giant faces a decline in demand for shipping. FedEx (NYSE:) said the cuts will extend over 18 months and will result in a…
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Revolut Moves HQ to Heart of London’s Financial District amid Big Bank Departures
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Asia FX weakens as hawkish Fedspeak offsets inflation relief; BOJ awaited By Investing.com
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Investing.com — Most Asian currencies fell on Thursday, as expectations of smaller interest rate cuts by the Federal Reserve dampened appetite for regional markets, even as the dollar fell amid a weak inflation reading. Uncertainty ahead of the Bank of Japan meeting and concerns over trade tensions between the US…
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Daily Broad Market Recap – June 12, 2024
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Market attention was focused on the key events in the US for the day, specifically the CPI release and the Federal Reserve statement, and these catalysts did not disappoint when it comes to volatility. Both major market movers faced some surprises, which then led to significant volatility in the dollar…
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What now after the US CPI and Fed showdown yesterday?
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It certainly did not disappoint. It was very similar to poker, where the flop (CPI report) is shown first. Then we moved to the bend (dot charts) and finally the river (McCoy Powell). Overall, it ended up being a push and pull by the time we wrapped things up yesterday.…
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Musk says Tesla shareholder vote for $56 billion pay package passing by wide margins By Reuters
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(Reuters) – Tesla (NASDAQ:) shareholder decisions on CEO Elon Musk’s pay package and its move to move legal headquarters to Texas are currently passing by wide margins, Musk said in a post on social media platform X on Wednesday. Electric car maker Tesla shareholders are voting on a proposal to…
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Interactive Brokers Boosts Offerings with Cboe Europe Derivatives
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PBOC is expected to set the USD/CNY reference rate at 7.2384 – Reuters estimate
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The People’s Bank of China is scheduled to release the USD/CNY reference exchange rate at approximately 0115 GMT. The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as the renminbi or renminbi). The People’s Bank of China follows…
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U.S. East Coast port union strike threat to test shippers’ nerves By Reuters
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(Reuters) – Labor talks at U.S. ports on the East Coast and Gulf of Mexico represent a looming danger for retailers, manufacturers and other shippers already struggling with longer transit times and higher costs. The International Longshoremen’s Association’s contract, which covers 45,000 workers at thirty ports from Maine to Texas,…
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MoonPay Brings PayPal on Board for EU and UK Crypto Purchases
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MoonPay has announced the expansion of PayPal as a payment option for users in the European Union and the United Kingdom, following its successful launch in the United States last month. Now, MoonPay users in 24 EU member states and the UK can purchase cryptocurrencies using their PayPal accounts. PayPal…
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French political risk and the euro By Investing.com
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Investing.com – The French government bond market saw significant pressure following the weekend’s European elections, with the 10-year OAT-Bund spread widening sharply by 7-8 basis points, reaching the widest levels seen since last year. The pressure on the bond market is not surprising after Standard & Poor’s recently downgraded France’s…
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U.K. Joblessness Rose 50.4K in May, But Wage Growth Picked Up
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The UK claimant change figure indicated a larger than expected jump in unemployment at 50.4K for May versus the consensus reading of 10.2K and the previous unemployment gain of 8.9K. Meanwhile, the unemployment rate rose from 4.3% to 4.4% instead of stabilizing, reaching its highest level since October 2021. However,…
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U.K. Joblessness Rose 50.4K in May, But Wage Growth Picked Up
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The UK claimant change figure indicated a larger than expected jump in unemployment at 50.4K for May versus the consensus reading of 10.2K and the previous unemployment gain of 8.9K. Meanwhile, the unemployment rate rose from 4.3% to 4.4% instead of stabilizing, reaching its highest level since October 2021. However,…
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Forexlive Americas FX news wrap: CPI gives and Powell takes
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Markets: Gold rose $3 to $2,319 The yield on US 10-year bonds fell by 7 basis points to 4.33%. West Texas Intermediate crude rose 46 cents to $82.39 The Standard & Poor’s 500 index rose 0.8% to a record high The Australian dollar is advancing, and the dollar is lagging…
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Member of famous Motown group Four Tops sues hospital for racial discrimination By Reuters
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Written by Joseph X (Reuters) – The lead singer of the popular Motown band The Four Tops has filed a lawsuit against a hospital in Michigan, claiming he was restrained and denied treatment for a serious heart problem after medical workers did not believe he was a member of the…
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Moscow Exchange Pauses Dollar and Euro Trading Following Latest US Sanctions
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EUR/GBP edges up, softer UK employment data not material for sterling By Investing.com
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Investing.com – The pair rose 0.2% on Tuesday. The move came after reports indicated a larger-than-expected decline in employment in the UK along with earnings numbers that were marginally lower than expected. “The Bank of England has warned that this could be indirectly affected by data issues affecting the labor…
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5 Common Trading Psychology Mistakes Forex Newbies Make
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Before you open a real Forex account, you should learn about the most common mental mistakes new traders make. You’ll probably keep making them anyway, but at least you’ll realize that you’re making them which makes it easier to correct them. 1. Overconfidence Trading for a living can be a…
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Canadian dollar underperforms as the Fed gets a greenlight to cut
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The Canadian dollar performed poorly today and the move was puzzling at first but on second look shows why it makes sense. Today the Canadian dollar rose by 0.5% which is a good gain but much less than the +1.2% for the Australian and New Zealand dollars. The performance of…
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Alexander Hamilton’s bank is getting a new name: BNY By Reuters
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Written by Lanan Nguyen NEW YORK (Reuters) – America’s oldest bank is getting a new name. Bank of New York Mellon (NYSE:) is adopting BNY as its new moniker, it announced Tuesday. The company also unveiled signs in large letters bearing the three-letter name at its head offices. Since its…