Category: Markets
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UBS lowers EUR/CHF target to 0.96 amid expected ECB rate cuts By Investing.com
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UBS has revised its forecasts for the currency pair, indicating a bearish outlook in the short term. The financial services company revised its March 2022 target for the euro to Swiss franc exchange rate to 0.96, down from the previous 0.97. In addition, UBS presented a new forecast for June…
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Mastercard Rolls Out Crypto Credential Service in Europe and Latin America.
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Global payment giant Mastercard has launched its peer-to-peer cryptocurrency credentials pilot program to simplify how users send and receive digital currencies. The new service is available in more than ten countries in Europe and Latin America. By introducing the Mastercard Crypto Credential, the company aims to simplify and secure cryptocurrency…
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UBS sees limited EUR/USD breakout potential above 1.10 by 2025 By Investing.com
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UBS has provided a forecast for the currency pair, suggesting that it may test the lower end of the current 1.05-1.10 range in the coming months. The company’s analysts expect the pair to move towards 1.05-1.07 after the euro’s recent rise, as the European Central Bank (ECB) is expected to…
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Forexlive Americas FX news wrap 29 May: The USD moves higher with higher yields.
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The US dollar rose supported by higher yields. For the third coupon auction this week, demand was less than ideal. Yesterday was the 2 and 5 year auction. Today was a 7 year note. For the trading week, the 10-year yield did not come close to 15 basis points while…
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Dow closes lower on rising yields, plunge in American Airlines By Investing.com
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Investing.com — The Dow Jones closed sharply lower on Wednesday, driven by higher Treasury yields and weaker industries as airline stocks fell sharply on concerns about demand after American Airlines Inc. cut its second-quarter earnings guidance. At 16:00 EDT (20:00 GMT), it was down 411 points or 1.1%, down 0.8%,…
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Gemini Returns $2.2B to Crypto Lending Program Users Following 18-Month Suspension: Report
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Cryptocurrency exchange Gemini, owned by the Winklevoss twins, has returned $2.2 billion to users of its EARN program after halting withdrawals 18 months ago, CNBC reported. The move follows a major settlement between the New York Attorney General and Gemini’s lending partner, Genesis. Cryptocurrency Lending Users Recover Money With the…
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UBS sees Swiss franc on backfoot, predicts Fed rate cuts By Investing.com
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UBS has released a report analyzing the impact of the unexpected interest rate cut by the Swiss National Bank (SNB) in March on currency markets. The SNB’s early action, before other major central banks, sparked a wave of carry trades, leading to a significant weakness in the value of the…
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U.S. Consumer Confidence Improved for the First Time in Four Months
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The Conference Board reported a stronger than expected consumer confidence reading at 102.0 versus 96.0 for May while the previous month’s reading enjoyed an upgrade from 97.0 to 97.5. Components of the May report revealed that the Current Conditions Index, which is based on consumers’ assessment of current business and…
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U.S. Consumer Confidence Improved for the First Time in Four Months
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The Conference Board reported a stronger than expected consumer confidence reading at 102.0 versus 96.0 for May while the previous month’s reading enjoyed an upgrade from 97.0 to 97.5. Components of the May report revealed that the Current Conditions Index, which is based on consumers’ assessment of current business and…
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With one week until the Bank of Canada decision, what’s priced in?
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Macklem We are one week away from the Bank of Canada’s interest rate decision on June 5 and it looks like it will be tense in the FX market. Currently, the market expects a 61% chance of a rate cut and a 39% chance of no change to the 5.00%…
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With one week until the Bank of Canada decision, what’s priced in?
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Macklem We are one week away from the Bank of Canada’s interest rate decision on June 5 and it looks like it will be tense in the FX market. Currently, the market expects a 61% chance of a rate cut and a 39% chance of no change to the 5.00%…
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Gemini customers get back over $2 billion in crypto from Genesis bankruptcy By Reuters
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Written by Dietrich Knuth NEW YORK (Reuters) – Bankrupt cryptocurrency bank Genesis and cryptocurrency exchange Gemini have returned more than $2 billion in cryptocurrencies to 232,000 retail customers in their jointly managed Gemini Earn program, giving customers a 242% return on assets locked since January 2023, they said. Gemini reported…
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4XC Sponsors Tennis Talent Hamad Medjedovic
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We have heard that 4XC is sponsoring rising tennis star Hamad Medjedovic. How did this partnership come about and why did you choose him? Joao Montero: We officially announced the partnership a few days ago, but Hamad Medjidovic has already competed in two tournaments wearing the 4XC jersey with recent…
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JPMorgan shares their 2024 outlook By Investing.com
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As we head into the second half of 2024, investors are keenly looking to currency movements for indications of how the forex market will shape up over the next few months. In this context, JP Morgan issued its forecasts for the US dollar. The bank’s analysis addresses various economic forces…
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Daily Broad Market Recap – May 28, 2024
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Just when it looked like the markets were calming down again, volatility began as US traders returned to their offices after the Memorial Day holiday. West Texas Intermediate crude rose more than 2% to reach $80 per barrel again, while US bond yields also made significant gains after the Treasury…
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Crude Oil Technical Analysis – Strong growth data boosts prices
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Basic overview The price of crude oil has declined steadily since it reached the $87.50 level following tit-for-tat reprisals between Iran and Israel. The decline came as a surprise as the market did not respond favorably to global growth expectations amid policy easing by China and other major central banks,…
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NexPoint Residential Trust PT Lowered to $34 at Truist Securities By Investing.com
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Analysts at Truist Securities lowered their price target on NexPoint Residential Trust (NYSE:) stock to $34.00 (from $35.00) while maintaining a Hold rating. Analysts commented: “We raised our 2024 NFFO estimates slightly, lowered our 2025 estimates, and lowered PT by $1 to $34 (was $35). We believe our Sunbelt-focused peers…
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BDSwiss Elevates Traders’ Experience with Advanced Trading Tools
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To succeed in dynamic financial markets, traders must use effective trading tools that enable them to quickly adapt to ever-changing trends. A prominent CFD broker BD Swiss Provides access to next-generation trading tools precisely designed to analyze market trends, enabling traders to develop their strategies and make informed decisions. In…
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Dollar steady ahead of inflation data, yen hits 4-week low By Reuters
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Written by Ankur Banerjee SINGAPORE (Reuters) – The dollar received support on Wednesday thanks to growing expectations that the Federal Reserve (U.S. central bank) is unlikely to cut interest rates until later this year ahead of crucial inflation readings this week, while the yen drifted to its weakest levels in…
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Chart Art: EUR/USD Is Testing a Long-Term Downtrend Resistance!
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Looking for more USD settings to trade? It looks like the EUR/USD pair has just fallen off the key Resistance zone! Will the pair continue its long-term downward trend in the next few days? EUR/USD 4-hour Forex chart Chart by TradingView In case you missed it, the EUR/USD pair was…