Category: Markets
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Asia-Pacific markets in red as traders digest RBA May policy minutes; eyes on FOMC minutes
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Samxmeg/iStock via Getty Images Japan (NKY:IND) -0.31%. Investors are also looking forward to a series of economic reports in Japan this week, including trade, inflation and business activity data. China (SHCOMP) -0.57%. Hong Kong (HSI) -2.12%. India (SENSEX) -0.08%. Australia (AS51) -0.18%. Minutes of the RBA’s latest meeting showed the…
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Britain proposes obligations on Mastercard and Visa to increase competition By Reuters
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LONDON (Reuters) – There is no effective competition in core credit card services where Visa (NYSE:) and MasterCard (NYSE:) are the biggest players, and there is a need for more transparency for users, the British Payment Systems Regulatory Authority said in an interim report. Tuesday. “PSR found that over the…
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MultiBank Group Launches Its Dubai-Based Institutional ECN
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MultiBank Group has consolidated its dominance in the prime brokerage trading industry with the launch of MEX Exchange, an electronic communications network for institutional investors (ECN). Yesterday (Monday), the company announced that the ECN network is the first of its kind in the BRICS countries and the Gulf Cooperation Council…
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Asia FX creeps lower, yen fragile with more rate cues on tap By Investing.com
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Investing.com — Most Asian currencies fell on Tuesday, while the dollar rose slightly as traders awaited more signals on US interest rates from the Federal Reserve. The Japanese yen continued to weaken, with the currency returning towards levels that attracted the latest currency market intervention by the government. Declining optimism…
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Daily Broad Market Recap – May 20, 2024
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With not many high-level economic releases, markets focused on the Fed’s speech and other asset-specific catalysts. What headlines caught traders’ attention on Monday? We have deets! Titles: The markets of Switzerland, Germany, France and Canada are on holiday Correct movement: Average property prices coming to market in the UK Up…
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Scarlett Johansson says OpenAI chatbot voice ‘eerily similar’ to hers By Reuters
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Written by Dawn Chmielowski and Anna Tong Scarlett Johansson on Monday accused OpenAI of creating a voice for the ChatGPT system that sounded “eerily similar” to the actress after she refused to voice the chatbot herself. Johansson made the comments in a statement issued hours after the artificial intelligence company…
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FMAS:24 Underway with Networking Blitz Opening Party
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The Finance Magnates Africa Summit (FMAS:24) officially kicks off in Sandton, South Africa with the opening ceremony of the Networking Blitz! After months of anticipation, industry leaders and biggest brands gathered at the Sandton Convention Center for a night of entertainment, networking and mingling. This unique event helps set the…
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BofA sees further dollar depreciation, expects G10 FX to stay in range By Investing.com
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Bank of America (BofA) analysts on Monday provided insights into the current state of the G10 foreign exchange (FX) markets, citing a general feeling of disappointment among investors over the lack of market volatility. Despite the recent reversal in the US Dollar (USD), the major currency pairs did not move…
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US (dis?) inflation – Target to cut prices on another 5000 items
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US retailer Target has reduced prices on more than 1,500 popular products, effective Monday. It promises “thousands of additional price cuts” (up to 5,000 times) in the future. This is said to be in response to attracting “inflation-wary shoppers who are put off by rising prices”. Information comes through many…
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Stocks aren’t attractive at the moment: JPMorgan By Investing.com
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JPMorgan Chase & Co.’s bank custodian. (NYSE:) on its notoriously bearish stance on the stock, advising clients that the stock does not represent an attractive investment opportunity at this time. The broker’s market strategists pointed to several factors that reinforce this perspective, including high equity valuations, tight credit spreads, and…
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Genesis Hits the Wall with $2 Billion Settlement, Shown the Door in New York
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Fmas: 24 | catch a glance Fmas: 24 | catch a glance Fmas: 24 | catch a glance Fmas: 24 | catch a glance Fmas: 24 | catch a glance Vmas: 24 | catch a glance Here’s a sneak peek at FMAS:24’s vibrant atmosphere! Join us at Africa’s premier financial…
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BofA sees potential for further USD selling by CTAs By Investing.com
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Bank of America (BofA) on Monday provided insight into potential actions for commodity trading advisors (CTAs) next week. According to Bank of America, CTAs may continue to sell the US dollar (USD) against most currencies following the trend that emerged after the Consumer Price Index (CPI) report led to dollar…
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Cleveland Fed Pres. Mester: Monetary policies restrictive. Neutral rate may be higher
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President of the Federal Reserve Bank of Cleveland. Speaking on Bloomberg TV, Meester says: Monetary policy is restrictive. Inflation progress stalled in the first three months The April CPI report was good news, but it is too early to know what path inflation is taking Labor markets have become more…
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Microsoft highlights ‘Copilot+’ PCs ahead of developer conference By Reuters
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Written by Max A. Cherny SEATTLE (Reuters) – Microsoft said on Monday it will introduce a new class of personal computers capable of handling more artificial intelligence tasks without the need for cloud data centers. At the event at its campus in Redmond, Washington, CEO Satya Nadella introduced what he…
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Exclusive: Match-Trader Terminates Prop Firm SurgeTrader’s License
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SurgeTrader, a Florida-based trading company, announced that trading platform provider Match-Trade Technologies has terminated the company’s license. Match-Trader representatives confirmed this information in a statement emailed to Finance Magnates. Since the chaos in the industry related to the suspension of licenses by MetaQuotes, the creator of MetaTrader 4 and MetaTrader…
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Dollar firm as investors await Fed guidance By Reuters
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Written by Saqib Iqbal Ahmed NEW YORK (Reuters) – The dollar rose against the euro on Monday, as investors awaited more clues to help them determine the course of U.S. interest rates, following cautious statements from Federal Reserve officials (the U.S. central bank) even as signs of a slowdown in…
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3 Possible Reasons You’re Not Achieving Your Trading Goals
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One of the most important topics we have discussed before is the need for traders (especially beginners) to focus on the process rather than profits. The idea is that a good, disciplined trader can always turn the odds in their favor if they hone their skills enough to handle any…
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Drone startup Neros raises funding from Sequoia, eyes supplies to Ukraine, US military By Reuters
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By Crystal Ho (Reuters) – Niros, a self-driving drone startup founded about a year ago, said it has raised $10.9 million in a seed round from Sequoia Capital to build a new factory and manufacture more drones for sale to Ukraine. Niros joins a string of US drone companies trying…
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Broadridge Taps Two Senior Hires to Lead European Issuer Services Expansion
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Broadridge Financial Solutions (NYSE: BR) announced the appointment of Simona Vitale, former COO of European Operations at Morrow Sodali, to lead sales operations for its new international issuance services. In addition to Vitale, Mariana Gonzalez also joins the team as Sales Director for International Release Services. The new appointments aim…
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Narrow dollar range likely to remain for now
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Investing.com – The US dollar has been trading calmly against major currencies lately, and these tight ranges are likely to remain for a while longer, according to Goldman Sachs, with a wait for a divergence to take place. At 05:20 EDT (09:20 GMT), the dollar index, which tracks the US…