Category: Markets
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UBS forecast gold to USD2900
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UBS Gold Forecast from Note on Growing Conflict in the Middle East: The forecast for the end of 2024 is $2,750 By the fourth quarter of 2025 to US$2,900 Briefly from the note: We expect global markets to face turmoil from time to time, but we do not expect a…
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S&P 500 could hit unprecedented 6,000 by year-end after unusual September gains By Investing.com
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Investing.com – It made gains in September, bucking the trend of what is typically the weakest month of the year, and now has history in its favor for a further unprecedented rise to 6,000 by the end of the year, according to new analysis from the bank. From America. “When…
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Israel says it will respond to Iranian attacks immiently
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An Israel Defense Forces spokesman said the air force would carry out “powerful air strikes” tonight across the Middle East I would be cautious with this for now as some reports suggest that decisions regarding such attacks will be made tonight. Lending credibility to the report is that Iran canceled…
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Novo Nordisk has mitigation plans to minimize disruption from port strikes, CNBC reports By Reuters
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(Reuters) – Danish drugmaker Novo Nordisk (NYSE:) has mitigation plans to reduce or prevent any interruptions in its production due to U.S. seaport strikes, CNBC reported on Tuesday, citing a company spokesperson. The report added that the famous pharmaceutical manufacturers, Wegovy and Ozempic, are planning to ship their products to…
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S&P moves down to test its rising 100 hour moving average
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Looking at the S&P 500 Index, the index was down -59.03 -1.02% at 5702.88. Today’s low price extended to 5681.28. The high price is at 5757.73. On the downside, the bullish 100 hour moving average comes in at 5675.06. The low of 5681.28 thus reached about six points from this…
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European automakers most at risk from US dockworkers strike, analysts say By Reuters
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DETROIT (Reuters) – European automakers are likely affected by strikes by dockworkers at U.S. East Coast and Gulf Coast ports because they rely heavily on those sites, but a longer strike could impact the industry more broadly if suppliers suffer, analysts said. Dockworkers began their first large-scale strike in nearly…
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Dollar gains after Powell’s speech; euro slips ahead of CPI release By Investing.com
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Investing.com – The U.S. dollar rose on Tuesday as Federal Reserve Chairman Jerome Powell played down the possibility of another big interest rate cut, while the euro fell ahead of the latest euro zone inflation data. At 04:10 ET (08:10 GMT), the dollar index, which tracks the greenback against a…
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Mixed market signals: Technology sector shows resilience amid financial sector dips
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Stock Heat Map By FinViz.com Tue, 01 Oct 2024 13:46:04 GMT The US stock market today offers a mix of cautious optimism and sector-specific setbacks, as evidenced by the latest heatmap data. Let’s dive into the details: ? Technology sector: steady growth with major milestones The technology sector is showing…
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Health insurers unveil Medicare Advantage plans for 2025 By Reuters
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(Reuters) – CVS Health (NYSE:) and Cigna (NYSE:) on Tuesday released details on next year’s government-backed health insurance plans for people 65 and older, saying some members will pay a $0 monthly premium for drugs. described. These announcements come ahead of the start of enrollment in Medicare Advantage plans on…
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USD/JPY gains, but Ishiba tones down hawkish bias By Investing.com
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Investing.com – The recent nomination of new Japanese Prime Minister Shigeru Ichib has sent the yen higher, but UBS is skeptical that his appointment will significantly change the speed of the yen’s rise. At 05:00 EST (09:00 GMT), it was trading 0.1% higher at 143.81 yen, after falling to 142.09…
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Chart Art: Trend Retracement Levels For Gold (XAU/USD)
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Where are the gold bugs? Spot gold (XAU/USD) seems ready to extend the long-term trend after touching some technical support levels. Do you think the precious metal will see new record highs this week? Gold (XAU/USD) Forex 4 Hours Chart by TradingView In case you missed yesterday’s headlines, the lack…
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USDJPY Technical Analysis – Eyes on the US data this week
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Basic overview The US dollar got a little support yesterday as Fed Chair Powell reiterated that 50 basis points easing by the end of the year remains the base case. The market probability of a 50 basis point Fed cut in November fell from 51% to 40%. Moreover, the Bank…
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Analysis-Global investors gear up to go back into China By Reuters
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Written by Naomi Rovnick LONDON (Reuters) – Global investors are preparing to bet on China again, in a major shift in sentiment sparked by Beijing’s quest to reverse an economic slowdown and revive long-term interest in its stock markets. It’s early days, and few money managers expect a Chinese growth…
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Dollar sturdy after Powell pushes back on aggressive easing bets By Reuters
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Written by Kevin Buckland and Brigid Riley TOKYO (Reuters) – The U.S. dollar rose against its major counterparts on Tuesday after Federal Reserve Chairman Jerome Powell backed off bets on further deep interest rate cuts. The yen stabilized near the middle of its range against the dollar over the past…
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FX Watch: NZD/USD’s Trend Opportunity Ahead Of The U.S. ISM Manufacturing PMI
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The NZD/USD pair is having trouble extending its downtrend since it reached a potential support zone! Profit taking after last week’s extended moves may have pulled the NZD/USD down from highs at 0.6375. To make matters worse, this JPow was not as pessimistic as the markets expected, and only saw…
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Japan top FX diplomat says yen shorts that had been built up until July have been unwound
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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 more risk and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience and risk tolerance. You may lose some or…
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Daily Broad Market Recap – September 30, 2024
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Monday was mixed for most asset classes, before dollar pairs were able to find a clear direction during Fed Chairman Powell’s speech. Commodities found themselves on shaky ground after China published gloomy PMI numbers, however global stocks managed to control losses. Here are other updates you should know about! Titles:…
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More on BNZ forecasting a 50bp interest rate cut next week from the RBNZ
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BNZ sums up its reasons: QSBO is just awful Consumer Price Index heads below 2.0% Soft labor market to subjugate non-tradable goods Price settings should move quickly towards neutrality A 50 basis point cut is warranted at the October meeting “In our view, we believe that the reflationary information we…
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Amazon wins partial dismissal of US antitrust lawsuit By Reuters
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Written by Judy Godoy (Reuters) – Amazon.com Inc has won the partial dismissal of a lawsuit filed by the U.S. Federal Trade Commission accusing it of maintaining illegal monopolies, although details of the ruling issued by a federal court in Seattle on Monday were not immediately clear. The Federal Trade…