Category: Markets
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FX lightly changed ahead of European morning trade
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The tension and attraction between major currencies has continued since last week. The dollar looked like it might finally fall early yesterday, but turned things around as yields rose. The latter influenced the risk-on sentiment and also helped maintain dollar support to start the week. Here’s a quick look at…
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Asian Stocks Retreat as Bond Selloff Spreads: Markets Wrap
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(Bloomberg) — Stock and bond trading fell in Asia on Wednesday as traders weighed the impact of a jump in U.S. Treasury yields overnight and comments from the Federal Reserve chairman dampened bets on a Fed rate cut. Most read from Bloomberg The MSCI Asia-Pacific index fell for a second…
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Paytm shares surge, hit 5% upper circuit amid Adani stake speculation By Investing.com
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Investing.com — Shares of Paytm rose sharply during the market open on Wednesday, hitting an upper circuit amid speculation that Gautam Adani, chairman of the Adani Group, was looking to acquire a stake in the fintech company. One 97 communications Ltd (NS:), which owns and operates Paytm, jumped 5% to…
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ATFX to Sponsor 2024 Duke of Edinburgh Cup Golf Tournament for the 7th Year
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Online brokerage giant ATFX will once again sponsor the annual international golf series, the Duke of Edinburgh’s Cup, a 2024 UK qualifying event. This tournament originated in the UK and has expanded into a global sporting event. Since its founding in 2000, the event has raised more than £5.3 million…
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Dollar slips lower ahead of core PCE release; euro gains By Investing.com
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Investing.com – The US dollar fell in early European trade on Tuesday amid a slight rise in risk sentiment, but traded in narrow ranges ahead of key inflation data. At 04:25 EDT (08:25 GMT), the dollar index, which tracks the greenback against a basket of six other currencies, was down…
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PBOC is expected to set the USD/CNY reference rate at 7.2528 – 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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BYD unveils new hybrid tech as battle with gasoline rivals heats up By Reuters
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SHANGHAI (Reuters) – China’s BYD on Tuesday launched the latest version of hybrid technology that improves fuel economy and cost, increasing competition with the likes of Toyota (NYSE:) and Volkswagen (ETR:) which still mainly sells gasoline cars. BYD Chairman Wang Quanfu unveiled the fifth-generation hybrid technology that achieves record-low fuel…
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FTX’s Former Executive Ryan Salame Sentenced to Over 7 Years for Fraud and Conspiracy
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Ryan Salama, who was a high-ranking executive at cryptocurrency exchange FTX, was sentenced to more than seven years in prison on charges of fraud and conspiracy to operate an unlicensed money transfer business, the Financial Times reported. Rayan Salama, 30, pleaded guilty to charges of election fraud and conspiracy to…
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BofA sees trend followers likely to sell USD this week By Investing.com
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Bank of America (BofA) has released a report predicting that commodity trading advisors (CTAs), known as trend followers, are expected to sell the US dollar (USD) in large quantities this week. The report notes that these traders are likely to buy the European Euro (EUR), British Pound (GBP), Australian Dollar…
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Forexlive Americas FX news wrap 28 May: USD rebounds helped by rising yields &confidence
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US consumer confidence came in much better than expected in the US session. The index moved to 102.00 versus estimates of 95.9 details: The current situation index is 143.1 compared to 142.9 previously Expectations Index 74.6 compared to the previous 66.4 Hard-to-find jobs 13.5 vs. 15.5 previously 16.9% of consumers…
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Apple’s rising growth amid China’s smartphone boom By Investing.com
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Investing.com – Analysts at Evercore Partners Inc (NYSE:) recently provided a detailed look at the performance of the Chinese smartphone market, highlighting the second straight month of accelerating shipments. According to the analysis, the market saw a significant year-on-year increase of nearly 29% in April, a notable improvement compared to…
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The Trading Pit’s Group Chief Marketing Officer Themis Christou Departs
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Panel discussion on “Regulation, Trust and the Future of Trade in Africa” Panel discussion on “Regulation, Trust and the Future of Trade in Africa” Panel discussion on “Regulation, Trust and the Future of Trade in Africa” Panel discussion on “Regulation, Trust and the Future of Trade in Africa” Panel discussion…
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‘We believe 160 is toppish for USD/JPY’: UBS By Investing.com
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UBS sees a potential shift in the currency pair’s trajectory. Analysts at UBS suggest that the Japanese yen, which has been suffering significant weakness, may be on its way to reversing. These expectations are based on the growing concerns of Japanese policymakers and companies about the negative effects of the…
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U.S. Treasury auctions off $70 billion of five-year notes at a high yield of 4.553%
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High yield 4.553% WI level at option time 4.540% Tail: +1.3 basis points versus six averages. -0.1 pressure point Bid to cover: 2.3X versus a six-month average of 2.41X Traders: 19.52% vs. six-month average of 16.0% Direct: 15.44% vs. six-month average of 17.9% Indirect investments: 65.04% vs. six-month average of…
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BofA sees dollar weakness amid negative US data, China optimism By Investing.com
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Bank of America (BofA) highlighted several factors contributing to potential headwinds for the US Dollar (USD). The bank pointed to recent negative surprises in US economic data and growing positive sentiment towards the Chinese economy as key drivers behind the US dollar’s challenges. Furthermore, Bank of America noted the currency’s…
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US consumer confidence and housing in focus today
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The US is back from vacation today, and this should put the forex market at full capacity after a period of low trading volumes. This means we could see some bigger flow-driven moves today, especially as we approach the end of the month. Volatility can also rise if there is…
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One last blow-off rally in cyclicals is plausible By Investing.com
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BCA Research believes there is potential for a “recent surge in cyclical stocks,” with the US manufacturing cycle following a surprisingly stable pattern for more than seven decades. “History suggests that this cycle tends to last for approximately 36 months, with the lower leg extending for 18 months, followed by…
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HTX Surpasses Coinbase with $2.4 Billion Spot Trading Volume Surge
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Panel discussion on “Regulation, Trust and the Future of Trade in Africa” Panel discussion on “Regulation, Trust and the Future of Trade in Africa” Panel discussion on “Regulation, Trust and the Future of Trade in Africa” Panel discussion on “Regulation, Trust and the Future of Trade in Africa” Panel discussion…