Category: Markets
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Rupee ends lower, logs worst single-day fall in nearly two months By Reuters
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Written by Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee fell on Wednesday, posting its worst day in nearly two months, as demand for dollars from importers and foreign banks erased almost all of the currency’s gains earlier in the week. The rupee closed at 83.9225 against the US dollar,…
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FOMC Minutes Confirmed Majority Leaned Towards a September Cut
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Minutes of the July 30-31 Federal Open Market Committee meeting indicated that a “substantial majority” of members believed it was “likely appropriate to ease policy at the next meeting.” Although policymakers agreed to keep interest rates unchanged at the time, the minutes also revealed that some officials were leaning toward…
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Goldman Sachs on where to look in FX if you’re expecting equity market losses
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Goldman Sachs analyzes effective hedges in the foreign exchange market in scenarios where US stocks and yields fall, highlighting the most reliable currency positions. Safe havens JPY and CHF, along with shorting MXN and AUD, are identified as effective hedges. However, the costs associated with certain strategies favor shorting AUD…
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Media veteran Bronfman raises bid for Paramount takeover to $6 billion, source says By Reuters
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(This story, originally published on August 21, has been resubmitted to correct RedBird’s writing style, in paragraph 8.) LOS ANGELES (Reuters) – Veteran businessman Edgar Bronfman has sharpened his bid for Paramount Global Inc. with a $6 billion offer for the controlling stake in National Amusements Inc. and a minority…
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Asia FX weakens as dollar recovers from 3 days of losses; rate cuts in focus By Investing.com
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Most Asian currencies fell on Thursday as the dollar rose from seven-month lows amid some cheap buying, although traders remained largely biased against the greenback amid expectations of interest rate cuts. The Japanese yen retreated after posting strong gains this week, although sentiment towards Japan was supported by positive PMI…
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Chart Art: Trend Resistance Setup For Bitcoin (BTC/USD)
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The native cryptocurrency’s rally may lose momentum at key technical resistance levels! Do you think BTC/USD is about to enter a downtrend? We take our signals from the daily chart: Bitcoin (BTC/USD) Daily Chart by TradingView August has been a very good month for Bitcoin so far, with the BTC/USD…
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Fed’s Schmid: Rates are not overly restrictive, we have time to decide
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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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Fed’s Schmid: Rates are not overly restrictive, we have time to decide
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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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US auto safety regulator closes probe into GM’s Cruise robotaxis By Reuters
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The National Highway Traffic Safety Administration said Thursday it has closed its initial evaluation of extreme braking and stabilization in 1,194 self-driving vehicles operated by General Motors Co.’s Cruise unit. The National Highway Traffic Safety Administration said it closed the evaluation after reviewing the Cruze recall and analyzing data, which…
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Euro and pound hold near 13-month highs, euro zone data in focus By Reuters
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By Kevin Buckland and Alun John TOKYO/LONDON (Reuters) – The euro held near its highest in more than a year against the dollar on Thursday after strong euro zone business activity data and ahead of euro zone wage figures that will shape the European Central Bank’s interest rate path. The…
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Chart Art: Make Or Break Support Area For USD/CAD
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USD/CAD is showing red candles below the key technical support area! Are we looking for a breakthrough? Or are the dollar bulls about to step in and say, “Not today, bears!”? USD/CAD Daily Currency Pair Chart by TradingView The US dollar fell sharply in August, helped by US data and…
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Chart Art: Make Or Break Support Area For USD/CAD
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USD/CAD is showing red candles below the key technical support area! Are we looking for a breakthrough? Or are the dollar bulls about to step in and say, “Not today, bears!”? USD/CAD Daily Currency Pair Chart by TradingView The US dollar fell sharply in August, helped by US data and…
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How the Forex Market Became the World’s Biggest Market
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There are many markets available to traders, each with different purposes. Stock markets are for investing in companies, cryptocurrency markets are for investing in blockchain projects, and so on. But the largest market among them is the Forex market. Why is the Forex market the largest? In this article, the…
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Canada’s CN Rail, CPKC shut freight network after impasse over union talks By Reuters
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Written by Jahnavi Nidumulu and Abhinav Parmar (Reuters) – Canadian National Railway (CN) and Canadian Pacific Kansas City-based CPKC shut down its railroads nationwide on Thursday, laying off about 10,000 workers after failed negotiations with a major labor union. The decision, confirmed by the Teamsters Union, paves the way for…
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Rupee dips; forward premiums rise amid near certainty on Fed rate cuts By Reuters
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Written by Nimesh Vora MUMBAI (Reuters) – The Indian rupee fell slightly on Thursday as a rally in peer Asian currencies paused, while futures premiums rose after Federal Reserve minutes and downward revisions to U.S. payrolls pushed it close to two-week lows. The Indian rupee was at 83.9425 per US…
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Daily Broad Market Recap – August 21, 2024
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Just when the US dollar seemed to be in recovery mode, it posted another day in the red thanks to two major catalysts. How did the rest of the markets perform? Here are the top economic headlines and updates you need to know: Headlines: Japan’s trade deficit in July The…
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Japan will release July inflation data on Friday (tomorrow)
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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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Japan will release July inflation data on Friday (tomorrow)
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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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Japan rises on positive PMI, others muted amid economic uncertainty By Investing.com
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Most Asian stocks rose on Thursday amid growing optimism about lower U.S. interest rates, but overall gains were limited as a downward revision to payrolls data rattled markets. Japanese stocks posted their best performance on record on the day as purchasing managers’ index data showed sustained growth in the country’s…
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Further dollar weakness not a given, EURUSD overshooting fundamentals: UBS By Investing.com
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The US dollar fell this week as stock markets recovered from early August declines, while expectations of a more dovish Federal Reserve policy continued. UBS Global Research analysts warn against assuming the US dollar will continue to fall. Although the euro has reached a new high against the US dollar…