Category: Markets
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Analysts sees upside for EUR/GBP amid weak UK retail sales By Investing.com
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Analysts at ING said that the currency pair appears undervalued, after UK retail sales data came in below expectations. The report released today showed a 2.7% year-on-year decline in core retail sales for April, with the underlying figure, excluding motor fuels, down 2.0%. Furthermore, March sales data was revised downward.…
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NASDAQ index rises by over 1%. Dow Industrial Average average flat
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All major US stock indices close higher during the day, but with different spreads. The Dow Jones Industrial Average closed almost unchanged at 39,069.58, up 0.01%. The S&P closed up 36.86 points, or 0.70%, at 5,304.71. It was reached just short of Tuesday’s record close at 5,321.42. The Nasdaq index…
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US, Kenya look to strengthen business, trade ties By Reuters
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Written by David Shepardson WASHINGTON (Reuters) – The United States and Kenya announced on Friday that they will hold a new round of trade talks next month, as the two countries eye new trade agreements and look to strengthen economic ties. Kenyan President William Ruto arrived in Washington for a…
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Buy Now, Pay Later Gets Regulated, But Are Credit Cards the Right Benchmark?
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The world of finance is in a constant state of change. New technologies and spending habits are emerging, blurring the lines between traditional methods and innovative alternatives. One such nuisance is buy now, pay later (BNPL), a payment option that allows consumers to split purchases into smaller, often interest-free instalments.…
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UBS suggests shorting USD/CHF amid DXY pullback and data woes By Investing.com
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UBS recommended investors sell the pair, indicating attractive entry levels for trading. The company confirmed that the DXY index, which measures the strength of the US dollar against a basket of currencies, fell 1.5% from its peak in late April due to disappointing US economic data. Despite the Federal Reserve’s…
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5 Uncomfortable Truths About Trading
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Are you still on track to achieve your trading goals? Are your trading systems up to their back- and front-testing capabilities? If you feel frustrated with your performance, don’t worry. You may have forgotten some basic facts about trading. Let’s take a realistic look at some facts that not many…
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Exclusive-KKR set for unconditional EU antitrust okay for Telecom Italia deal, sources say By Reuters
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Written by Fu Yunqi and Elvira Pollina BRUSSELS/MILAN (Reuters) – U.S. investment firm KKR is expected to receive unconditional European Union antitrust approval for the purchase. Telecom Italia (BIT:) Fixed Line Network (TIM) after agreeing to maintain commercial agreements with TIM’s rivals, people with direct knowledge of the matter said.…
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London OOH Showcases Visa’s Partnership to Promote MyGuava Card
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Guavapay, a global fintech company, has announced a partnership with Visa, a leader in digital payments, to launch an out-of-home (OOH) campaign across London. The collaboration aims to increase awareness of the MyGuava multi-currency Visa Card, available to users of the MyGuava app and MyGuava Business, Guavapay’s flagship products. A…
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Dollar edges lower, but on track for hefty weekly gains By Investing.com
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Investing.com – The U.S. dollar fell in early European trade on Friday, but was still on track for its biggest weekly rise in more than a month as expectations of early interest rate cuts from the Federal Reserve faded. At 04:40 EDT (08:40 GMT), the dollar index, which tracks the…
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Daily Broad Market Recap – May 23, 2024
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The impact of the global PMI dump on overall market sentiment! The results were mostly stronger than expected, with the exception of some failures from Germany and the UK economy. A few positive reviews have been announced for previous releases as well. Here’s how the major currency pairs and asset…
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How to filter out the noise
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When performing fundamental analysis, new traders try to read every news item and look at every economic indicator to determine what to trade. When doing it this way, they often become a bit paralyzed by too much information and end up doing nothing and getting frustrated because their hard work…
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European Stocks Slip as Fed Rate Bets Pushed Back: Markets Wrap
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(Bloomberg) — European stocks fell on Friday, tracking declines in the U.S. and Asia, as traders retreated from expectations of the Federal Reserve’s first interest rate cut. Most read from Bloomberg The Stoxx Europe 600 index fell 0.5%, heading for its first weekly decline in three weeks, with technology and…
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Amid chants and K-pop, Samsung union stages rare rally for fair wages By Reuters
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In Jo Min Park SEOUL (Reuters) – Against a backdrop of K-pop and dance music performances, more than 2,000 unionized workers from Samsung Electronics gathered in Seoul on Friday, holding a rare march to demand the South Korean tech giant pay fair wages. Over the past two years, the National…
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Ethereum ETF Approval to Open the Doors for More Crypto ETFs
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If you have any semblance of interest in cryptocurrency trading, you should’ve already heard that the Ethereum ETF approval by the SEC (Securities and Exchange Commission) is well on its way. Cryptocurrency investors are about to get the opportunity to buy into some brand new exchnage-listed products in the coming…
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Asia FX nurses losses as dollar hits 10-day high on easing rate cut bets By Investing.com
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Investing.com — Most Asian currencies fell on Friday and suffered sharp losses against the dollar, as hawkish signals on inflation and interest rates led traders to price in expectations of interest rate cuts in 2024. Sentiment towards Asian markets was also shaken by signs of a renewed trade war between…
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Chart Art: GBP/CHF Bullish Trend Pullback Zone
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The British pound pair broke the resistance level at 1.1450 but is now stopping near 1.1650. Is it time for a big correction? Take a look at the area of interest I am watching on the 4 hour time frame. GBP/CHF Forex 4 Hours Chart by TradingView Did you miss…
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UK retail sales the highlight of the agenda in the session ahead
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The dollar benefited from yesterday’s US PMI data, along with a reversal in risk sentiment. US indices in particular ended with losses after starting the day brightly on the back of Nvidia’s increased profits. This leaves us with an atmosphere of caution in the final period of the week. For…
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Singapore Air tweaks seatbelt sign policy, alters route after turbulence incident By Reuters
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SEOUL (Reuters) – Singapore Airlines (OTC:) has revised its seat belt policies on board and rerouted at least one flight after a turbulence incident this week left one person dead and dozens hospitalized, according to the airline and flight data. The airline said in a statement to Singaporean broadcaster News…
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Breaking: SEC Greenlights Ether ETFs, Issuers Await Final Approval
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The US Securities and Exchange Commission (SEC) approved applications from major exchanges, including Nasdaq, CBOE and NYSE, to list exchange-traded funds tied to the price of ether today (Thursday). This approval will likely open the door for these products to begin trading later this year. Exporters must obtain regulatory approval…
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Dollar steadies after sharp gains post Fed minutes; sterling retains strength By Investing.com
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Investing.com – The US dollar gave up some of the previous session’s gains on Thursday, but remained near a one-week high after minutes from the Federal Reserve’s latest meeting indicated US interest rates will remain high for some time. At 04:20 ET (08:20 GMT), the dollar index, which tracks the…