Category: Markets
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US dollar drops to near 9-month low versus yen amid talk of larger Fed rate cut By Reuters
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(This Sept. 13 story has been refiled to remove Mellon’s BNY name in paragraph 8.) By Gertrude Chavez-Dreyfus and Chibuike Oguh NEW YORK (Reuters) – The U.S. dollar fell to its lowest level in nearly nine months against the Japanese yen on Friday after media reports rekindled speculation that the…
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Oil squeezes higher as specs bet heavy against crude
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Oil daily We have seen this pattern several times recently: positioning data released late Friday shows a very negative situation in oil, and on Monday there will be bullish pressure. But unfortunately, the gains didn’t last, at least not recently. There are already signs of that with WTI crude rising…
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Tech stocks drag on S&P 500, Nasdaq as Fed meeting nears By Reuters
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By Johann M. Cherian and Purvi Agrawal (Reuters) – Technology stocks weighed on Wall Street and the Nasdaq on Monday as caution set in ahead of a pivotal Federal Reserve policy decision later in the week, with most traders pricing in a sharp drop in borrowing costs. Interest-rate-sensitive chip stocks…
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Dollar retreats ahead of Fed meeting; Euro, sterling rise By Investing.com
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Investing.com – The U.S. dollar fell on Monday, while the euro and the British pound rose, ahead of the expected start of the Federal Reserve’s interest rate cutting cycle later this week. At 04:35 ET (08:35 GMT), the dollar index, which tracks the greenback against a basket of six other…
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The AUD is the strongest and the USD is the weakest as the NA session begins
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As the North American session began, the Australian dollar was the strongest followed by the British pound, with the US dollar the weakest. The Federal Reserve will meet on Tuesday and again on Wednesday before announcing its interest rate decision on Tuesday at 2 p.m. ET. A press conference will…
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Intel, Pfizer, Trump Media and Target rise premarket; Apple falls By Investing.com
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Investing.com – U.S. stocks rose sharply on Monday, as traders remained cautious ahead of the Federal Reserve’s latest policy meeting. Here are some of the biggest moves in U.S. stocks before the market opens today. Pfizer (NYSE:) shares rose 0.5% after the drugmaker said its experimental drug to combat a…
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Dollar weakens, yen strengthens as bets firm on aggressive Fed rate cut By Reuters
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By Vidya Ranganathan and Samuel Indyk LONDON (Reuters) – The dollar fell and the yen hit its highest in more than a year on Monday as market participants grew more expectant of a large interest rate cut by the U.S. Federal Reserve later this week. The dollar fell to a…
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FX Watch: NZD/CAD To Extend Its Downtrend After Canada’s CPI Release?
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The New Zealand dollar had a very tough week last week, as concerns about growth in China, weaker-than-expected mid-level domestic data and general risk aversion highlighted the relative weakness of the commodity-linked currency in the foreign exchange space. Meanwhile, the Bank of Canada’s willingness to explore deeper rate cuts is…
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Fed Interest-Rate Cut Hopes Lift Yen, Boost Bonds: Markets Wrap
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(Bloomberg) — Bonds rose as traders braced for the U.S. Federal Reserve to cut interest rates, expectations that also lifted the yen. Most Read from Bloomberg Stock markets began a crucial week with quiet moves, with Europe’s benchmark STOXX 600 index down while US stock futures were flat as investors…
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Market Outlook for the Week of 16th – 20th September
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We have a busy week ahead in terms of economic events, but Monday starts slowly with no major releases scheduled. On Tuesday, the highlight will be Canadian inflation data, followed by US retail sales figures on a monthly basis. Wednesday brings inflation data from the UK, along with building permits,…
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Asia FX muted, dollar edges lower as Fed, BOJ meetings loom By Investing.com
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Most Asian currencies were little changed in thin holiday trade on Monday, while the dollar fell as markets awaited a Federal Reserve meeting where the central bank is likely to cut interest rates. Regional trading volumes were thin due to holidays in markets in Japan, China and South Korea. But…
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Just a couple of light releases on the agenda in the session ahead
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It may be a holiday in Japan and China today, but that hasn’t dampened the mood at the start of the week so far. The US dollar has been lower as we look ahead to European trading, with USD/JPY in particular testing the 140.00 level. The pair’s previous low was…
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PwC invests in ‘high quality’ business in China after record fine, internal memo says By Reuters
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Written by Shi Yu HONG KONG (Reuters) – PwC said it is making “concrete investments” to ensure the Big Four firms have high-quality and sustainable business in China, after Chinese regulators on Friday imposed a record penalty on the firm’s mainland unit. PwC Zhong Tian LLP was suspended for six…
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Asian Stocks Swing as China Data Offset Fed Bets: Markets Wrap
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Breadcrumbs Path Links PMN Business Asian stocks moved between losses and gains on Monday, as expectations of a rate cut by the US Federal Reserve receded due to signs of continued stagnation in the Chinese economy. Article author: Bloomberg News Catherine Bosley Published on September 15, 2024 • Last updated…
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Week Ahead in FX (September 16 – 20): FOMC, BOE, And BOJ Decisions Plus Top-tier Consumer Data On Tap
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After months of speculation, the Federal Reserve may finally cut interest rates for the first time in years this week. But that’s not the only thing shaking the markets! Traders are also set for two more big central bank decisions and other top-tier data releases that could send major currencies…
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UBS says gold is its “Most Preferred” in its global asset allocation
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UBS analysts reiterated their bullish outlook for gold, citing its value as a hedge against macroeconomic and geopolitical uncertainty: Maintains a price target of $2,700 per ounce by mid-2025 Briefly from the UBS report: Gold is expected to rise 23% in 2024, reaching an all-time high, due to lower US…
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Asia stocks on tenterhooks as Fed faces crunch time By Reuters
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By Wayne Cole SYDNEY (Reuters) – Asian shares opened cautiously on Monday in a week that is almost certain to see the start of a U.S. easing cycle, with the only question mark being the size of the cuts as markets were divided over the likelihood of a major move.…
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UBS on the data ahead of the FOMC meeting – what could trigger a 50bp interest rate cut
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The main US data this week is on Tuesday, with the Federal Open Market Committee (FOMC) announcement the following day. UBS is watching retail sales and industrial production data, saying weakness in these could impact the European Central Bank’s decision to cut the federal funds rate by 50 basis points…
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NZ’s Auckland Intl Airport to raise $861.8 million, signs contract to build new terminal By Reuters
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(Reuters) – New Zealand’s Auckland International Airport said on Monday it would raise NZ$1.4 billion ($861.8 million) for a planned capital investment programme. The company said the share raising consists of a NZ$1.2 billion underwritten offering and an unsubscribed retail offering to raise up to NZ$200 million. The stock was…