Category: Markets
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The Swiss National Bank made its third rate cut, heading towards the end of cutting cycle?
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The Swiss National Bank, which started the global trend of monetary easing in March, made its third rate cut on Thursday, cutting the rate by 25 basis points to 1%. Switzerland has largely avoided the spike in inflation seen in much of the developed world, with consumer prices rising just…
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The Swiss National Bank made its third rate cut, heading towards the end of cutting cycle?
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The Swiss National Bank, which started the global trend of monetary easing in March, made its third rate cut on Thursday, cutting the rate by 25 basis points to 1%. Switzerland has largely avoided the spike in inflation seen in much of the developed world, with consumer prices rising just…
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Wall St closes higher on strong US economic data By Reuters
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Written by Echo Wang (Reuters) – Wall Street’s major indexes closed higher on Thursday, hitting a record high, as a rise in Micron Technology (NASDAQ:) shares and a strong U.S. jobless claims report eased concerns about the labor market. Shares of Micron Technology rose after the memory chip maker forecast…
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Fed’s rate-cutting cycle points to weaker dollar
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Investing.com – The Federal Reserve has begun its rate-cutting cycle, and Bank of America Securities continues to expect a modest decline in the US dollar through 2025. “Although the Fed modestly surprised markets with a 50 basis point cut last week, we see major currency dynamics largely unchanged in the…
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EURUSD buyers take the price up to overhead swing area resistance
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EUR/USD started the day with a volatile up and down price movement. The price has been trading above and below the 100/200 hourly moving averages indicating uncertainty from buyers and sellers. In the morning video, I talked about the uncertainty of buyers and sellers due to volatile price action. A…
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CarMax beats second-quarter revenue estimates on higher unit sales By Reuters
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By Ananta Agarwal (Reuters) – Used car retailer CarMax Inc beat Wall Street estimates for second-quarter revenue on Thursday as price cuts on used vehicles boosted unit sales, especially in the retail segment, sending its shares up 6.4 percent in afternoon trading. Used car dealerships have had a rocky ride,…
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Dollar down in choppy trading after data; Swiss franc gains following rate cut By Reuters
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By Chuck Mikolajczak NEW YORK (Reuters) – The dollar fell in volatile trading on Thursday after a slew of U.S. data pointed to a relatively strong economy, while the Swiss franc rose after the country’s central bank cut interest rates by 25 basis points. The US dollar began to pare…
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The GBPUSD held support at the 100 hour MA today and is trading to a new high
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In the video earlier this morning, I highlighted the 1.3348 level as a key bearish gauge for GBP/USD today. A move below this level would be more bearish. Holding above it would be more bullish. Here is the reference for this level: Looking at the current hourly chart below, the…
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Citi joins hands with Apollo for $25 billion private credit program By Reuters
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(Reuters) – Citigroup Inc and Apollo Global have teamed up for a $25 billion private credit and direct lending program, illustrating a growing alliance of banks and non-banks looking to grab a share of the lucrative $2 trillion market. Abu Dhabi’s sovereign wealth fund Mubadala Investment Company and Apollo’s retirement…
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Citi shares its USD/JPY price forecast for 2025 By Investing.com
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Investing.com – Citi has updated its Q3 2020 outlook, providing insights into the pair’s medium- and long-term trajectory. The bank’s strategists assert that the recent decline in the yen’s value is largely driven by a backward-looking narrative linked to Japan’s digital account deficit. However, they point out that this narrative…
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Daily Broad Market Recap – September 25, 2024
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The lack of fresh catalysts led to pullbacks and potential profit-taking among major assets on Wednesday. What market themes have moved your favorite assets anyway? Let’s discuss! Headlines: Australia’s inflation broadly cooler but still elevated in August Bank of Japan Core CPI It remained at 1.8% year-on-year as expected in…
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ForexLive European FX news wrap: China uplifts broader markets; SNB cuts, dollar sluggish
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Headlines: Markets: AUD advances, USD lags during the day European stocks rise; S&P 500 futures up 0.8% The yield on the 10-year US Treasury note fell 0.9 basis points to 3.771%. Gold rises 0.8% to $2,678.03 West Texas Intermediate crude fell 2.8% to $67.77. Bitcoin price rises 1.3% to $64,330…
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ForexLive European FX news wrap: China uplifts broader markets; SNB cuts, dollar sluggish
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Headlines: Markets: AUD advances, USD lags during the day European stocks rise; S&P 500 futures up 0.8% The yield on the 10-year US Treasury note fell 0.9 basis points to 3.771%. Gold rises 0.8% to $2,678.03 West Texas Intermediate crude fell 2.8% to $67.77. Bitcoin price rises 1.3% to $64,330…
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H&M abandons 2024 margin target as markdowns and costs hurt profit By Reuters
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By Mary Manis and Helen Reid STOCKHOLM (Reuters) – H&M (ST:) scrapped its profit margin target for 2024 as high discounting, costs and fierce competition hurt operating profit in the third quarter, sending shares in the world’s second-biggest fashion retailer down about 8%. H&M has struggled to boost profitability amid…
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Impending expiry of U.S. sanctions licence threatens Russia’s yuan liquidity By Reuters
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Written by Elena Fabrichnaya MOSCOW (Reuters) – The expiration of a U.S. license allowing transactions involving pillars of Russia’s financial infrastructure could make doing business with Russian companies more difficult and costly, sources involved in imports and payments told Reuters. The yuan, which hit a near one-year high against the…
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Stocks Rally With Asia as China Pledges Fiscal Aid: Markets Wrap
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(Bloomberg) — European stocks and U.S. stock futures rose, tracking gains in Asia after China pledged fiscal stimulus, and technology shares rose. Most Read from Bloomberg Europe’s Stoxx 600 index rose 1% and Nasdaq 100 futures advanced after a strong revenue outlook from Micron Technology Inc. sent the stock higher…
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Stocks Rally With Asia as China Pledges Fiscal Aid: Markets Wrap
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(Bloomberg) — European stocks and U.S. stock futures rose, tracking gains in Asia after China pledged fiscal stimulus, and technology shares rose. Most Read from Bloomberg Europe’s Stoxx 600 index rose 1% and Nasdaq 100 futures advanced after a strong revenue outlook from Micron Technology Inc. sent the stock higher…
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Chart Art: AUD/USD Is Finding Support From A Long-term Trend Line!
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Australian dollar buyers may be preparing to take action after a short dip. Do you think the AUD/USD pair is ready to extend its weeks-long uptrend? We take a closer look at the 4-hour chart! AUD/USD currency pair on 4-hour chart Chart by TradingView Risk assets such as the Australian…
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SNB cuts key policy rate by 25 bps to 1.00% from 1.25% previously
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks 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…
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SNB cuts key policy rate by 25 bps to 1.00% from 1.25% previously
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks 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…