Category: Markets
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Oil falls to the lowest in a year
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Crude oil WTI daily The oil market didn’t spend much time below $70 in the post-pandemic period, but after five days of heavy selling, it’s now at $67.29, the lowest since June 2023. Last year, we saw several dips to this range, all of them buys, including two intraday dips…
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China stops short of Africa debt relief as pledges more cash By Reuters
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By Duncan Merry and Laurie Chen NAIROBI/BEIJING (Reuters) – China declined to provide debt relief sought by several African countries this week, but pledged 360 billion yuan ($50.7 billion) over three years in credit lines and investments. Launched in 2000, the Forum on China-Africa Cooperation (FOCAC) has taken on an…
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Premium Forex Watch Recaps: Sept. 2 – 3, 2024
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Our currency strategists this week focused on the US ISM manufacturing PMI data and the Bank of Canada (BOC) monetary policy statement for potential bullish setups. Of the four scenario/price outlook discussions this week, It can be said that both discussions witnessed the raising of fundamental and technical arguments. To…
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USDJPY moves lower to test the August low and finds support buyers.
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The USD/JPY pair saw bullish and bearish swings following the US jobs report and subsequent market volatility. The decline in US stocks and lower yields may have had an impact, and sellers pushed the price lower. Technically, today’s low was 141.75, 10 times higher than the low from August 5…
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Explainer-What is helium and why is it used in rockets? By Reuters
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Written by Nivedita Bhattacharjee BENGALURU (Reuters) – Two NASA astronauts aboard Boeing Co’s Starliner will remain on the International Space Station for months due to a propulsion system glitch that has included a helium leak, while on Earth, SpaceX’s Polaris Dawn mission has been delayed due to helium problems in…
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The Fed is in a tricky spot – CIBC
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There is an undercurrent in economic circles right now that basically boils down to this: The Fed should cut rates by 50 basis points, but it is more likely to cut them by 25 basis points. Rick Rader of BlackRock Bloomberg was on Earlier today, CIBC made this point, as…
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US regulator approves BlackRock’s $12.5 billion deal for Global Infrastructure Partners By Reuters
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(Reuters) – The U.S. Federal Energy Regulatory Commission on Friday approved BlackRock Inc.’s $12.5 billion deal to buy Global Infrastructure Partners. Under the deal announced earlier this year, BlackRock said it would pay $3 billion in cash and about 12 million BlackRock shares to acquire the asset management giant. BlackRock…
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This is how the market behaves in an easing cycle
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The market’s reaction today to the absence of a strong 50 basis point signal from Waller should come as no surprise. This is what I wrote in June: It’s been a long time since we’ve seen a “normal” price-cutting cycle so it’s worth reminding yourself of what’s going on and…
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Google search monopoly US case remedies to come by December By Reuters
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Written by Judy Godoy The U.S. Justice Department plans to issue a blueprint by December on what Alphabet Inc’s Google must do to restore competition after a judge earlier found the company had an illegal monopoly on the online search market, prosecutors said at a court hearing in Washington on…
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US equity close: 25 basis points isn’t going to cut it
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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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Pennsylvania, Arizona and Texas benefit from US funding for Ukraine arms, Pentagon says By Reuters
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By Mike Stone WASHINGTON (Reuters) – Pennsylvania, Arizona and Texas are among the U.S. states that have received the most funding and investment to arm Ukraine in its war with Russia, a Pentagon spending breakdown released on Friday showed. Pennsylvania, a swing state in the Nov. 5 presidential election, received…
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Forexlive Americas FX news wrap: Non-farm payrolls soften but not enough for 50 bps
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Markets: Gold falls $20 to $2,496 The 10-year US Treasury yield fell 1.4 basis points to 3.72%, and the 2-year Treasury yield fell 9.3 basis points to 3.65%. West Texas Intermediate crude oil fell $1.07 to $68.08 a barrel. S&P 500 down 1.7% Japanese Yen Advances, Australian Dollar Lags Friday’s…
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Forexlive Americas FX news wrap: Non-farm payrolls soften but not enough for 50 bps
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Markets: Gold falls $20 to $2,496 The 10-year US Treasury yield fell 1.4 basis points to 3.72%, and the 2-year Treasury yield fell 9.3 basis points to 3.65%. West Texas Intermediate crude oil fell $1.07 to $68.08 a barrel. S&P 500 down 1.7% Japanese Yen Advances, Australian Dollar Lags Friday’s…
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Wall Street stocks fall; jobs data feeds uncertainty about rate cuts By Reuters
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By Chibuike Ojoh NEW YORK (Reuters) – U.S. stocks fell on Friday, pressured by a jobs report that showed the labor market remained sluggish but left traders uncertain about how far the Federal Reserve will go in cutting interest rates. All three major indices fell, with all 11 sectors of…
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Wall Street stocks fall; jobs data feeds uncertainty about rate cuts By Reuters
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By Chibuike Ojoh NEW YORK (Reuters) – U.S. stocks fell on Friday, pressured by a jobs report that showed the labor market remained sluggish but left traders uncertain about how far the Federal Reserve will go in cutting interest rates. All three major indices fell, with all 11 sectors of…
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Brent crude closes at the lowest since 2021. Where is it adjusted for inflation?
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WTI crude is still holding support but the picture is looking increasingly bleak for Brent crude. The global benchmark closed today at its lowest level since December 2021. We have seen a series of daily declines around these levels and there have been worse daily declines since 2021 but this…
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Roblox set to launch paid videogames on its virtual platform By Reuters
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Written by Zuhair Kachwala (Reuters) – Roblox Inc said on Friday it will offer paid video games on its platform and allow developers to sell physical goods through the games they create. The video game company said at its developer conference that it will add the ability to price certain…
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S&P 500 Heads Toward Worst Week Since March 2023: Markets Wrap
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(Bloomberg) — Stocks were headed for their worst weekly decline since March 2023 and bonds retreated after another disappointing labor market report raised concerns that the economy is slowing and the Federal Reserve is moving too slowly to rescue it. Most Read from Bloomberg The S&P 500 fell 1.7% and…
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U.S. August Jobs Report: Mixed Signals Keep Fed on Track for Measured Rate Cut
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The U.S. labor market showed signs of slowing in August, with job growth slowing but remaining positive, paving the way for the Federal Reserve to take a measured approach to cutting interest rates later this month. The Bureau of Labor Statistics reported today that total nonfarm payrolls rose by 142,000…
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U.S. August Jobs Report: Mixed Signals Keep Fed on Track for Measured Rate Cut
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The U.S. labor market showed signs of slowing in August, with job growth slowing but remaining positive, paving the way for the Federal Reserve to take a measured approach to cutting interest rates later this month. The Bureau of Labor Statistics reported today that total nonfarm payrolls rose by 142,000…