Category: Markets
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Federal Reserve Chair Powell to retain optionality, more data to come before Sept meeting
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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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CN Rail issues lockout notice to union, Canada-wide freight rail stoppage looms By Reuters
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Written by Promit Mukherjee OTTAWA (Reuters) – Canadian National Railway (TSX:), one of Canada’s two main rail companies, formally notified the Canadian Truck Drivers Union on Sunday that it will begin locking out workers at the union early on Thursday morning. “Unless an immediate and decisive solution to the labour…
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PBOC is expected to set the USD/CNY reference rate at 7.1548 – Reuters estimate
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The People’s Bank of China is scheduled to set the exchange rate of the US dollar against the Chinese yuan at around 0115 GMT. The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as the renminbi or RMB).…
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Australia’s Westpac posts steady Q3 profit, helped by higher capital earnings By Reuters
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(Reuters) – Australia Westpac Banking New York Stock Exchange (NYSE:) Corp. said Monday that third-quarter net income was largely in line with a year ago, as higher gains on capital and protected deposits offset rising expenses and bad loans. Based on the company’s average quarterly performance in the first half…
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Trade ideas thread – Monday, 19 August, insightful charts, technical analysis, ideas
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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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The week starts on Tuesday
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I coughed coffee on my keyboard when I saw this from Adam over the weekend: Next week doesn’t start until Thursday. On Tuesday in the Asian time zone, we have the People’s Bank of China interest rate setting day, as well as the minutes of the latest Reserve Bank of…
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Fed’s Daly says its time to consider trimming rates
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San Francisco Federal Reserve President Mary Daly said the Federal Open Market Committee needs to take a gradual approach to lowering borrowing costs. Financial Times front page: The Financial Times is closed, but here’s a very brief summary of the report on the interview: Daly calls for ‘wise’ approach to…
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Why focusing on secular growth trends can make sense By Investing.com
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In an increasingly complex and interconnected global economy, traditional investment strategies focused on benchmarks and indices are being challenged by more dynamic approaches that emphasize secular growth trends. Analysts at UBS Global Research point out that thematic equity investing, which eschews the traditional benchmark-based model in favor of focusing on…
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Assessing the impact of Japan PM Kishida’s resignation on markets By Investing.com
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Prime Minister Fumio Kishida’s decision not to run for Liberal Democratic Party leadership in the upcoming party election and step down from his post next month has sparked some speculation about its potential impact on the stock market. According to UBS analysts, the immediate market reaction is expected to be…
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Diageo submits financial documents in Delhi police investigation, source says By Reuters
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Written by Aditya Kalra NEW DELHI (Reuters) – Spirits Group Diego The Indian unit of telecom company LON has provided financial documents sought by New Delhi’s anti-corruption police in a probe into billing and discounting practices involving city agencies, a person familiar with the matter said. Heena Nagarajan, CEO of…
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Premium Forex Watch Recaps: Aug. 12 – 14, 2024
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Our currency strategists this week focused on another round of employment situation updates, this time from Australia and the UK, as potential drivers of short-term opportunities. Of the four scenario/price outlook discussions this week, It can be said that only one discussion saw both fundamentalist and technical arguments raised. To…
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Join me on Monday for a webinar on how to avoid 7 common trading traps
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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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Scammers prey on young Chinese desperate for jobs in bleak economy By Reuters
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By Ethan Wang and Ryan Wu BEIJING (Reuters) – A Chinese mother has taken to television to demand justice for her 19-year-old mentally disabled son after con artists tricked the desperate job seeker into having breast enlargement surgery in an incident that sparked widespread outrage. The teenager, who was hoping…
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Updated 2024 outlook for copper stocks following a pullback By Investing.com
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Copper stocks have been under pressure in recent months, driven by a 16% drop in prices from record highs in May. Despite this correction, RBC Capital Markets analysts believe copper could find a floor near its current levels, at around $4.00 per pound. Analysts point out that while global economic…
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Newsquawk Week Ahead: Jackson Hole, Fed and ECB Minutes, Canada and Japan CPI, Flash PMI
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19th-23rd August 2024: Mon: US Democratic National Convention (Aug 19-22), Bank of Indonesia Announcement, New Zealand Trade Balance (Jul) Tue: US Democratic National Convention (Aug 19-22), PBoC LPR, RBA Minutes, Riksbank Announcement, CBRT Announcement, EZ Final CPI (Jul), Canadian CPI (Jul) Wed: US Democratic National Convention (Aug 19-22), FOMC Minutes,…
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Strategists explain why falling inflation won’t help stocks anymore By Investing.com
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The stock market posted a mix of gains and losses during Wednesday’s session as investors examined the latest consumer price index (CPI) data, according to a Sevens report. Ultimately, the index edged up slightly to close with a modest gain of 0.38%. The day started on an upbeat note as…
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Weekly Market Outlook (19-23 August)
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Upcoming Events: Monday: New Zealand Services PMI, Fed Waller, Bank of Canada Senior Loan Officer Survey. Tuesday: PBOC key interest rate, RBA minutes, Canadian CPI, Eurozone wage growth. WednesdayCanada Producer Price Index, FOMC Meeting Minutes. Thursday:Australia/Japan/Eurozone/UK/US preliminary PMIs, ECB minutes, US jobless claims, Jackson Hole symposium. Friday:New Zealand Retail Sales,…
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ING looks at three scenarios for markets By Investing.com
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As the 2024 US presidential election approaches, ING has conducted an analysis outlining three possible scenarios and their impact on financial markets. These scenarios explore the outcomes of different political configurations and their impact on domestic and foreign policies, trade, and the broader macroeconomic landscape. 1. Trump’s comprehensive victory In…
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Uranium prices outlook for 2024 as per Citi By Investing.com
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Prices have been under pressure recently, trading in a tight range and slightly lower due to limited trading volume and liquidity. However, as analysts at Citi Research noted in a note dated Monday, this weakness in uranium prices is expected to ease as demand for nuclear power continues to rise,…