Category: Markets
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USDJPY moves lower after PPI data. Sellers in control.
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US producer price index data came in largely in line with expectations, and did not change expectations for the Federal Reserve’s monetary policy decision next week, which is focused on cutting interest rates by 25 basis points. However, the USD/JPY pair has returned to the downside. This bias is contributed…
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Top tech, U.S. officials to discuss powering AI -CNN By Reuters
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WASHINGTON (Reuters) – Executives from OpenAI, Google and Anthropic will meet with top U.S. officials at the White House on Thursday to discuss the energy and infrastructure needed to power artificial intelligence, CNN reported, citing a person familiar with the matter. OpenAI CEO Sam Altman, Google CEO Ruth Porat, Anthropic…
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ForexLive European FX news wrap: Light movements ahead of ECB decision, more US data
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Headlines: Markets: Australian Dollar Advances, Swiss Franc Lags During the Day European stocks rise; S&P 500 futures up 0.1% US 10-year Treasury yields rise 1.7 basis points to 3.670% Gold rises 0.2% to $2,516.57 West Texas Intermediate crude rose 1.7% to $68.45. Bitcoin price rises 1.0% to $58,057 The session…
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European banks rise as UniCredit’s move on Commerzbank lifts M&A prospects to forefront By Reuters
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By Gianluca Lo Nostro and Philippe Leroy-Beaulieu (Reuters) – European banking shares extended their upward trend on Thursday, driven mostly by UniCredit’s performance report after it bought a 9 percent stake in Germany’s Commerzbank the previous day. The pan-European banking sub-index rose 1.9% by 1010 GMT, with analysts pointing to…
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Chart Art: GBP/CAD Reversal Pattern Forming
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The GBP/USD pair appears to be struggling to maintain its recent trend, and a pattern is forming on the chart that indicates a possible reversal. The GBP/CAD pair made several failed attempts to break the minor psychological level of 1.7850 and is now testing the double neckline support around 1.7700.…
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China reportedly to cut interest rates on $5 trillion mortgages as soon as this month
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This is mainly aimed at further lowering borrowing costs and trying to boost consumption activity. China’s domestic demand conditions have suffered greatly since the outbreak of the Covid-19 pandemic and there has been no significant recovery in this area despite the world returning to normal. The report says some banks…
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Manchester United brand remains strong despite recent financial losses: Jefferies By Investing.com
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Investing.com – Despite recent financial challenges, Manchester United Liverpool Football Club (London:) (NYSE:)’s brand remains resilient and strong. According to analysts at Jefferies, the club’s global recognition and extensive fan base remain the key drivers of its strength, even amid declining financial performance and rising operating costs. Manchester United have…
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Asia FX muted, dollar strong as sticky CPI fuels bets on smaller rate cut By Investing.com
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Most Asian currencies moved in a flat-to-low range on Thursday, while the dollar strengthened after a strong reading on U.S. consumer inflation dashed hopes that the Federal Reserve would cut interest rates by a large margin. Weak inflation data from Japan weighed on the yen, pushing the currency back from…
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Daily Broad Market Recap – September 11, 2024
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Major assets were all over the place on Wednesday as traders priced in their biases on a Fed rate cut, US policy updates, and high-profile reports from the UK and US. In the foreign exchange market, a higher-than-expected core US consumer price index helped the dollar recover some of its…
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ForexLive Asia-Pacific FX news wrap: USD/JPY swings again on BoJ comments
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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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ForexLive Asia-Pacific FX news wrap: USD/JPY swings again on BoJ comments
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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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Couche-Tard considering raising offer price for Seven & i, Bloomberg News reports By Reuters
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TOKYO (Reuters) – Canada’s Alimentation Couche-Tard Inc. is discussing how much higher it might raise its offer price for Japan’s Seven & I Holdings Inc., Bloomberg News reported on Thursday, citing unnamed people familiar with Couche-Tard’s internal talks. Coach-Tard said earlier this week it was willing to continue takeover talks…
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Couche-Tard considering raising offer price for Seven & i, Bloomberg News reports By Reuters
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TOKYO (Reuters) – Canada’s Alimentation Couche-Tard Inc. is discussing how much higher it might raise its offer price for Japan’s Seven & I Holdings Inc., Bloomberg News reported on Thursday, citing unnamed people familiar with Couche-Tard’s internal talks. Coach-Tard said earlier this week it was willing to continue takeover talks…
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Hotter U.S. Core Inflation Reduced The Odds Of A 50bps Fed Rate Cut
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The US Bureau of Labor Statistics data showed that the headline inflation rate in the United States was 0.2% on a monthly basis in August, the same as July and analysts’ estimates. Annual inflation slowed sharply from 2.9% to 2.5%, slower than market expectations of 2.7%. In fact, 2.5% is…
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Hotter U.S. Core Inflation Reduced The Odds Of A 50bps Fed Rate Cut
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The US Bureau of Labor Statistics data showed that the headline inflation rate in the United States was 0.2% on a monthly basis in August, the same as July and analysts’ estimates. Annual inflation slowed sharply from 2.9% to 2.5%, slower than market expectations of 2.7%. In fact, 2.5% is…
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BOJ’s Tamura says expects a gradual path for interest rate hikes
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Bank of Japan Board Member Naoki Tamura delivers a speech. Japan’s neutral interest rate is likely to be around 1% at least. The road to ending the easing policy is still very long We will carefully consider the pros and cons of getting out of the easy policy. Short-term interest…
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BOJ’s Tamura says expects a gradual path for interest rate hikes
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Bank of Japan Board Member Naoki Tamura delivers a speech. Japan’s neutral interest rate is likely to be around 1% at least. The road to ending the easing policy is still very long We will carefully consider the pros and cons of getting out of the easy policy. Short-term interest…
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Mexico’s commercial vehicle sales expected to hit record in 2024 By Reuters
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MEXICO CITY (Reuters) – Sales of commercial vehicles in Mexico could hit a record high this year, the Mexican automobile distributors’ association said on Wednesday. Why is this important? Mexico exported $593 billion worth of goods in 2023, most of which was transported overland using trucks or trailers. The flow…
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UK pay awards drop to lowest level in two years
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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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Tech firm executives to testify before US Senate about election threats By Reuters
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(This story was corrected to remove an incorrect listing of an Adobe (NASDAQ:) executive testifying in paragraph 2.) Written by Kanishka Singh WASHINGTON (Reuters) – Executives from major technology companies including Google, Adobe, Microsoft and Meta Platforms are scheduled to testify next week at a U.S. Senate Intelligence Committee hearing…