Category: Markets
-
Dollar slips lower, struggling to stop losses ahead of payrolls By Investing.com
•
The US dollar fell on Thursday, struggling to find its footing after weak economic data raised expectations of a major interest rate cut by the Federal Reserve later this month. At 04:35 ET (08:35 GMT), the dollar index, which tracks the greenback against a basket of six other currencies, was…
-
Stocks pause days of losses ahead of US jobs data: Markets Wrap
•
(Bloomberg) — Global stocks steadied after days of declines as uncertainty persisted over the health of the U.S. economy and the pace of potential interest rate cuts by the Federal Reserve. Most Read from Bloomberg The pan-European STOXX 600 index was little changed, with chemical and mining stocks the biggest…
-
UK August construction PMI 53.6 vs 54.9 expected
•
The reading is slightly lower than in July but still looks good. New order growth remains strong while housing activity rebounded to its fastest pace since September 2022. Commercial activity remains the best performing sector but all sectors – including civil engineering – are growing, so this roughly sums up…
-
Volvo Cars scales back margin and revenue ambitions By Reuters
•
By Mary Manis and Nick Carey (Reuters) – Swedish carmaker Volvo Cars cut its margin and revenue ambitions for the second time in a year on Thursday, a day after abandoning its electric-only target as tariffs and weak demand for electric vehicles continue to weigh. Slowing demand for electric vehicles,…
-
India’s shrinking balance of payments surplus keeps rupee near record lows By Reuters
•
Written by Nimesh Vora MUMBAI (Reuters) – India’s rupee held near an all-time low on Thursday despite intervention by the country’s central bank, with traders and analysts expecting continued pressure on the currency due to a shrinking balance of payments surplus. The rupee was at 83.9750 against the US dollar,…
-
Chart Art: Is AUD/USD Ready for a Bearish Reversal?
•
The AUD/USD pair is struggling to reach its 2024 highs. Does this mean Australian traders are ready for a bearish reversal? We take a closer look at the 4-hour time frame! AUD/USD currency pair on 4-hour chart Chart by TradingView The US dollar lost some ground against its major peers…
-
Stock Market’s $1.05 Trillion Wipeout Puts To Test Bitcoin Stability
•
In a single day, the U.S. stock market lost $1.05 trillion. The drop represents one of the largest one-day declines in recent times, and reflects a combination of disappointing economic data and massive corporate conflicts. It is understandable that investors are concerned because this decline raises some disturbing questions about…
-
Stock Market’s $1.05 Trillion Wipeout Puts To Test Bitcoin Stability
•
In a single day, the U.S. stock market lost $1.05 trillion. The drop represents one of the largest one-day declines in recent times, and reflects a combination of disappointing economic data and massive corporate conflicts. It is understandable that investors are concerned because this decline raises some disturbing questions about…
-
ForexLive Asia-Pacific FX news wrap: JPY active again
•
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…
-
Exclusive-US warned Nippon its US Steel bid poses a national security risk, sources say By Reuters
•
By Alexandra Alper and David Shepardson WASHINGTON (Reuters) – The Biden administration told Nippon Steel Corp in a letter on Saturday that its $14.9 billion takeover of U.S. Steel would pose a national security risk by hurting the U.S. steel industry, three people said, adding to evidence that the United…
-
Daily Broad Market Recap – September 4, 2024
•
Market correlations were out of sync on Wednesday, as major asset classes appeared to respond to their individual catalysts. Forex price action was mostly chaotic as well, although the US dollar was generally weaker throughout the day. Here are the latest economic updates and headlines that pushed markets higher: Headlines:…
-
Australian July Trade Balance is a surplus of AUD 6.009bn (expected 5.15bn)
•
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…
-
Johnson & Johnson adds $1.1 billion to proposed talc settlement By Reuters
•
By Mike Spector and Dietrich Knuth (Reuters) – Johnson & Johnson plans to pay an additional $1.1 billion to settle tens of thousands of lawsuits alleging that the company’s baby powder and other talc products cause cancer, two people familiar with the matter said. Johnson & Johnson said Wednesday it…
-
UBS cuts US dollar targets; recommends fading any strength By Investing.com
•
Investing.com – UBS has cut its long-term targets for the U.S. dollar, looking to outpace the currency’s rally as early as September. At 08:45 ET (12:45 GMT), the dollar index, which tracks the greenback against a basket of six other currencies, was down 0.1% at 101.655, after rising to a…
-
U.S. August ISM Manufacturing PMI Remained in Contraction Despite Uptick in Prices
•
The US ISM manufacturing PMI for August came in at 47.2, up from the previous month’s reading of 46.8 but below the consensus of 47.5, reflecting a slowdown in the pace of manufacturing contraction. The report’s components revealed that the price index rose from 52.9 to 54.0, while the employment…
-
“Persistent” inflation in the US is on the rise – argues against a 50bp FOMC Sep rate cut
•
This tweet is from Nick Timeraos, a Wall Street Journal Fed watcher: Although the data relates to July (with the upwardly revised June result added), the Fed released it on September 3. If you’re familiar with this measure of inflation, this rise provides another reason why speculation of a 50…
-
J.Jill Inc sees growth amid market challenges By Investing.com
•
J.Jill Inc. (JILL) has reported a slight increase in second-quarter performance, with total comparable sales growing by 1.7% and adjusted EBITDA reaching $30.2 million, which is above expectations. Despite a general slowdown in customer demand during July and August, the company has adjusted its expectations and remains confident in its…
-
Payrolls set to be high-risk event for dollar
•
Investing.com – All eyes in the foreign exchange markets are on Friday’s U.S. jobs report, with Citigroup saying the report is likely to impact the G10 FX market, and the U.S. dollar in particular. Since last month’s labor market report in early August, the market’s reaction to the data has…
-
Payrolls set to be high-risk event for dollar
•
Investing.com – All eyes in the foreign exchange markets are on Friday’s U.S. jobs report, with Citigroup saying the report is likely to impact the G10 FX market, and the U.S. dollar in particular. Since last month’s labor market report in early August, the market’s reaction to the data has…
-
Bank of Canada Cuts Rates by 25bps, Signals More Easing Ahead
•
The Bank of Canada today cut its overnight interest rate target by 25 basis points to 4.25%, marking the second consecutive rate cut in the monetary tightening cycle. This outcome was widely expected, as we discussed in our event guide. The Bank of Canada indicated in its statement the following:…