Category: Markets
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Gold Technical Analysis – Flash US PMIs in focus
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Basic Overview After breaking the 2480 resistance level, gold eventually managed to extend its gains to the 2532 level as buyers flocked in. In the big picture, gold is expected to remain supported as real yields decline as we head into the Fed’s easing cycle, but in the near term,…
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XPeng projects lower-than-expected Q3 revenue on stiff competition By Reuters
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(Reuters) – China’s Xpeng Inc (NYSE:XP) forecast third-quarter revenue below expectations and missed second-quarter sales estimates on Tuesday, hurt by stiff competition and weaker demand for its aging lineup of expensive electric vehicles. The company, however, expects to deliver between 41,000 and 45,000 vehicles in the third quarter, slightly more…
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Asia FX steady as yen rally cools, dollar at 7-mth low amid rate cut bets By Investing.com
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Most Asian currencies were steady on Wednesday with the Japanese yen slightly weaker after a strong rally earlier this week, while continued bets on a U.S. interest rate cut saw the dollar fall to seven-month lows. The strength in the yen pointed to a sustained decline in the carry trade…
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Daily Broad Market Recap – August 20, 2024
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Risk aversion has returned to the markets in recent trading sessions, sending stock indices lower again and pushing gold to test record highs. However, the US dollar failed to make safe-haven gains, as the greenback fell to its lowest level in a year. Check out these headlines and economic updates…
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China automaker lobby warns of enormous risks and uncertainty from EU tariffs on EVs
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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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Domino’s Australia franchise slumps 7% as high costs take larger slice of profit By Reuters
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(Reuters) – Shares of Australia-based Domino’s Pizza Enterprises Inc fell more than 7% on Wednesday after the franchise operator reported a weak start to the 2025 financial year as rising costs and frugal consumers weighed on profitability. Domino’s Pizza Enterprises operates the largest master franchise of the American pizza giant…
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Dollar slips lower on rate cut expectations; euro nears this year’s high By Investing.com
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Investing.com – The U.S. dollar fell on Tuesday, approaching a seven-month low amid growing conviction that the Federal Reserve will cut interest rates in September. At 04:00 ET (09:00 GMT), the dollar index, which tracks the greenback against a basket of six other currencies, was down 0.3% at 101.667, trading…
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Daily FX Market Review: U.S. Dollar Hits Its Lowest Point of the Year!
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The US dollar hit its lowest level this year on Tuesday as market participants awaited the Federal Reserve’s next interest rate cuts. The dollar fell to levels not seen since early January, reflecting expectations that the U.S. Federal Reserve will begin cutting interest rates next month. This decline comes in…
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JP Morgan says to say goodbye to the carry trade – unlikely to return to predominance
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A note from JPMorgan suggests that the recent spike in volatility has dealt a major blow to carry trades in the foreign exchange market, which have been the dominant strategy in the foreign exchange market over the past 12 to 18 months. JPMorgan points to the unwinding of carry trades,…
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Hesai Group maintains lead in LiDAR market, eyes profitability By Investing.com
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During its second quarter 2024 earnings conference call, Hesai Group, a leading automotive LiDAR technology company, showcased its robust market position and strategic advancements. The company, which trades under the ticker symbol HSAI, reported significant design wins and partnerships, projecting an optimistic outlook for future profitability and market expansion. Hesai’s…
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‘Kamala-mentum’ is putting ‘Trump trades’ on ice as dollar loses steam By Investing.com
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Macquarie says the prospect of a Democratic win is forcing traders to back away from “Trump trades” including dollar bidding, as Democratic presidential nominee Kamala Harris continues to bring more of a “Kamala mentality” to the White House race. “We believe the prospect of a Democratic victory in the presidential…
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Forexlive Americas FX news wrap: Canadian CPI falls to 40-month low
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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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Energix signs long-term solar power deal with Google By Reuters
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Energex Renewable Energy said Tuesday it has signed a long-term agreement with Alphabet Inc’s Google to supply the tech giant with electricity and renewable energy credits generated from its solar projects. To power rapidly expanding AI data centers, big tech companies like Google are increasingly negotiating electricity supply agreements with…
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BofA is bullish on EUR/NZD amid RBNZ cut By Investing.com
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Bank of America (BofA) reported a growing consensus against the US dollar, with significant selling last week. Investors in both the US and Europe have been net short on the dollar over the year. Demand for US dollar put options has been on the rise. Bank of America highlighted a…
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BofA is bullish on EUR/NZD amid RBNZ cut By Investing.com
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Bank of America (BofA) reported a growing consensus against the US dollar, with significant selling last week. Investors in both the US and Europe have been net short on the dollar over the year. Demand for US dollar put options has been on the rise. Bank of America highlighted a…
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Powell has spoken at Jackson Hole for six straight years. Here is how the market reacted
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Amnesty International Image Fed Chair Powell’s annual remarks at Jackson Hole have become must-watch events for traders, often leading to big market moves. Goldman Sachs provides a quick recap of the past six years and how they have impacted the front end of the bond market (the dollar generally follows…
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Fertilizer Canada says rail stoppage to cost industry up to C$63 million a day By Reuters
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(Corrects currency to Canadian dollars from US dollars in title and paragraph 1) Written by Merinalika Roy Canadian Fertilizers warned Tuesday that disruptions affecting all rail services across the country will cost the fertilizer industry an estimated C$55 million (US$40.34 million) to C$63 million (US$46.21 million) in lost sales revenue,…
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Dollar pressured lower amid hedge fund selling By Investing.com
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Investing.com – The U.S. dollar has been broadly sold off, according to analysts at Bank of America, and further losses remain possible. “Our own flows show broad-based selling of the US dollar so far in August, particularly by hedge funds and corporates,” Bank of America analysts said in an Aug.…
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Dollar pressured lower amid hedge fund selling By Investing.com
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Investing.com – The U.S. dollar has been broadly sold off, according to analysts at Bank of America, and further losses remain possible. “Our own flows show broad-based selling of the US dollar so far in August, particularly by hedge funds and corporates,” Bank of America analysts said in an Aug.…
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Tech and healthcare outshine in a mixed market: Insights from today’s stock trends
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Stock Heat Map from FinViz.com Tuesday, August 20, 2024 13:46:11 GMT Today’s Stock Market Overview Today’s stock market is a complex fabric with significant differences across sectors. A closer look at the stock market map reveals mixed performance, with notable dynamics in the technology and healthcare sectors overshadowing mixed sentiment…