Category: Markets
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BMW says costs, low used car prices to weigh on 2024 pre-tax profit By Reuters
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Written by Andrei Sychev and Nick Carey BERLIN (Reuters) – BMW said on Wednesday it expects a slight decline in pre-tax profits this year due to higher research and development, manufacturing and employee costs, with lower used car prices also contributing to the decline. The Munich-based automaker reported a decline…
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Australia Eyes Unreported Crypto Transactions: Taxman Targets 1.2 Million Accounts
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The Australian Tax Office (ATO) has requested personal data and transaction details from cryptocurrency exchanges for up to 1.2 million accounts to crack down on potential tax evaders, Reuters reported. The move represents a major escalation in the ATO’s efforts to ensure compliance in the rapidly expanding cryptocurrency market. Overseeing…
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Asia FX weakens, dollar firms as markets rethink rate cuts By Investing.com
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Investing.com — Most Asian currencies fell on Wednesday, while the dollar rose on comments from Federal Reserve officials that made markets rethink their expectations for a U.S. interest rate cut. The Japanese yen’s performance remained weak among its peers, falling against the dollar even as government officials continued their warnings…
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Daily Broad Market Recap – May 7, 2024
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The absence of new major market themes encouraged the asset’s price action on Tuesday. What major assets saw volatility and how did the US dollar trade on a data-light trading day? Titles: The Reserve Bank of Australia kept interest rates unchanged At 4.35%, he noted that the interest rate path…
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Yen is a big loser against the USD in Asian trade today, but its not the only one
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High risk warning: Foreign exchange trading involves a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience and risk tolerance. You may lose some or all…
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SEC Chair Gensler: Crypto Represents ‘Outsized’ Share Of Scams And Fraud In Overall Markets
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In a recent interview with CNBC, the head of the Securities and Exchange Commission (SEC). Gary Gensler He reiterated his concerns about the cryptocurrency industry, highlighting its alleged connection to scams, fraud and compliance issues within the broader market. Compliance with cryptocurrency securities laws Gensler started with Recognition That although…
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SEC Chair Gensler: Crypto Represents ‘Outsized’ Share Of Scams And Fraud In Overall Markets
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In a recent interview with CNBC, the head of the Securities and Exchange Commission (SEC). Gary Gensler He reiterated his concerns about the cryptocurrency industry, highlighting its alleged connection to scams, fraud and compliance issues within the broader market. Compliance with cryptocurrency securities laws Gensler started with Recognition That although…
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Brazil’s Carrefour swings to profit in first quarter By Reuters
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SAO PAULO (Reuters) – Carrefour Brazil, controlled by France Carrefour (EPA:) announced net profits of 39 million riyals ($7.7 million) for the first quarter, offsetting losses in the same period last year, as rising food inflation pushed up its profits. On an adjusted basis, it also returned to the black…
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Dollar steadies after payrolls-linked fall; yen falls again By Investing.com
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Investing.com – The US dollar rose in early European trade on Tuesday, trying to bounce back from sharp losses at the end of last week, while the Japanese yen fell despite further threats of intervention. At 04:35 EDT (08:35 GMT), the dollar index, which tracks the US currency against a…
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Forexlive Americas FX news wrap 7 May: The USD is the strongest of the major currencies.
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The American session was devoid of any American data today. The only economic report was the Ivey PMI from Canada, which came in stronger than expected. Despite the gains, the Canadian dollar weakened and was one of the weakest major currencies. Today the US dollar was the strongest among the…
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Beats On Revenue But Stock Drops By Stock Story
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Audio technology company Sonos (NASDAQ:) reported better-than-expected results in the first quarter of fiscal 2024, with revenue falling 16.9% year over year to $252.7 million. The company expects full-year revenues to be about $1.65 billion, in line with analyst estimates. It had a non-GAAP loss of $0.34 per share, down…
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Coincheck’s Nasdaq Listing Gains Traction as SPAC Submits Proposal to SEC
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Coincheck and spatial acquisition Thunder Bridge Capital Partners IV are moving forward with their merger deal, which will enable the Japanese cryptocurrency exchange to list on the Nasdaq. This action represents an important step for both companies and has implications for investors seeking exposure to the booming cryptocurrency industry. Coincheck…
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Dollar’s status as reserve currency to endure
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Investing.com – A move by US authorities to seize Russian assets could add to recent efforts to diversify away from the dollar, but the dollar is likely to remain the global reserve currency for the foreseeable future, according to Wells Fargo. Is the dollar’s role as a reserve currency in…
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Chart Art: WTI Crude Oil (USOIL) Head and Shoulders Breakdown
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Did you miss the neckline breakdown on crude oil? Here are some retracement levels you can watch for if you are still bearish on the commodity. West Texas Intermediate (USOIL) Chart by TradingView Easing geopolitical conflict in the Middle East and a surprise increase in EIA crude oil inventories sent…
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US treasury to auction off $58 billion of 3-year notes at the top of the hour
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The US Treasury will sell US$58 billion of the three notes at the end of the hour. The results will be compared to six-month averages of the main components of the aggregate demand measure. Key components and their six-month averages and widths: Tail: 6-month average 0.1 basis point. Previous auction…
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TikTok, ByteDance sue to block US law seeking sale or ban of app By Reuters
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Written by David Shepardson WASHINGTON (Reuters) – TikTok and its Chinese parent company ByteDance said on Tuesday they had filed suit in a U.S. federal court seeking to block a law signed by President Joe Biden that would force the short-video app used by 170 million Americans to be withdrawn…
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New Crypto Casino TG.Casino Becomes Regional iGaming Partner of AC Milan
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Cryptocurrency casino platform TG.Casino and famous Italian football team AC Milan announced a new partnership this week. TJ casino advertisement In a tweet on May 6, @TCasino_ posted on X: “TG Casino is proud to officially announce our new partnership with AC Milan joining them as an iGaming partner in…
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Japan warns of action over rapid currency moves By Reuters
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Written by Satoshi Sugiyama and Laika Kihara TOKYO (Reuters) – Japan may have to take action against any disorderly foreign exchange movements due to speculation, the Japanese government’s top currency diplomat Masato Kanda said on Tuesday, strengthening Tokyo’s readiness to intervene again to support the fragile yen. In a sign…
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Chart Art: Will Bitcoin (BTC/USD) Extend Its Downtrend?
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Bitcoin is having trouble making new highs above the $65,000 mark! Will this extend the BTC/USD price in its weeks-long downtrend? We take a closer look at the 4-hour chart: Bitcoin (BTC/USD) for 4 hours Chart by TradingView If you’ve read our latest Daily market summary You will then learn…