Category: Markets
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Australian jobs report due 15 August 2024, the unemployment rate will not be 10.1%
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The Australian labour market report is due at 11.30am Sydney time. 0130 GMT 2130 EST (Wednesday) The unemployment rate is expected to remain steady at 4.1%. Yesterday, a special study conducted by Roy Morgan published its unemployment report for July: The “real” unemployment rate rose to 10.1% (up 1.8 percentage…
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Decentralized AI network Sahara raises fresh capital in Samsung NEXT-backed round By Reuters
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Written by Manya Saini Sahara AI, a startup that combines blockchain technology with artificial intelligence, said Wednesday it has raised $43 million in a funding round led by venture capital investors Pantera Capital, Binance Labs and Polychain Capital. The Series A funding also attracted investments from Samsung (KS:) NEXT alongside…
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Fed’s Goolsbee: Rising unemployment may indicate worsening job market
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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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BHP and striking union at Escondida fail to resume formal talks By Reuters
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SANTIAGO/ANTOFAGASTA (Reuters) – Mining group BHP and the striking workers’ union at its Escondida mine in Chile failed to resume formal negotiations after a preliminary meeting earlier in the day, the miners’ union said on Wednesday. The copper miners’ union began a strike on Tuesday at the Escondida mine, the…
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The focus will shift to the US consumer with retail sales and Walmart earnings Thursday
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On Thursday, the focus of U.S. markets will shift from inflation to consumer health. Interest rates are starting to weigh on the market as a number of major companies, including Home Depot and McDonald’s, announce spending cuts. Spending so far appears to have been hit hardest in interest-rate sensitive areas,…
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Tech stocks in focus as investors eye latest filings from funds By Reuters
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NEW YORK (Reuters) – Investors will be watching quarterly reports on Wednesday for a look at how some of the world’s biggest money managers fared at the end of the second quarter, a period marked by a string of record highs in the run-up to the latest bout of turmoil…
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Dollar on back foot ahead of CPI; sterling slips By Investing.com
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Investing.com – The U.S. dollar was steady on Wednesday, after weakening overnight ahead of the July CPI release, while the British pound weakened after benign inflation data. At 05:25 ET (09:25 GMT), the dollar index, which tracks the greenback against a basket of six other currencies, was down at 102.277,…
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The euro has now erased all of this year’s losses
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EURUSD daily The euro has now returned to stability during the year. It opened at 1.1036, dropped to 1.0601 on April 15, and has now risen to its highest level. There is some resistance at the December high of 1.1139 followed by last year’s high of 1.1276. The latest move…
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Mars to boost snack portfolio in mega $36 billion deal for Pringles maker Kellanova By Reuters
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Written by Anirban Sen and Savita Mishra (Reuters) – Family-owned candy giant Mars Inc is buying Cheez-It maker Kellanova in a deal worth about $36 billion, combining consumer food brands from M&M’s and Snickers to Pringles and Pop-Tarts in one of the industry’s biggest deals. Mars Inc. said on Wednesday…
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BofA expects renewed Swiss franc weakness amid SNB action By Investing.com
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Bank of America Securities analysts highlighted the Swiss National Bank’s recent intervention in foreign exchange markets, which was aimed at weakening the Swiss franc amid significant market turmoil. Bank of America expects further depreciation of the Swiss franc, as the real effective exchange rate has largely recovered from its decline…
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3 Unusual Tips for Newbie Forex Traders
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Are you tired of the good old trading tips for beginners? Here are some unusual (but very useful!) tips I’ve received from trading professionals: 1. Don’t look at profit and loss. Wait, what..? That’s right, close the P/L tab on your trading platform or cover this panel with tape if…
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NZDUSD Technical Analysis – A more dovish RBNZ weighs on the Kiwi
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Basic Overview Yesterday, the US PPI report came in below expectations by a wide margin, leading to a sell-off in the US dollar as the market began to prepare for a potentially weak US CPI release today. This led to a major breakout in the NZD/USD pair, which was short-lived…
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Mercedes-Benz chief in South Korea to meet residents after EV fire damaged property By Reuters
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SEOUL (Reuters) – The head of Mercedes-Benz in South Korea on Wednesday met residents of an apartment complex damaged by a fire that started in one of its electric cars and raged for more than eight hours, raising concerns about public safety. Mercedes-Benz Korea CEO Matthias Veitel will hold a…
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Dollar sags after benign US inflation data; kiwi skids on rate cut By Reuters
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By Kevin Buckland TOKYO (Reuters) – The dollar remained lower on Wednesday after falling against its major peers overnight as a strong U.S. producer price reading bolstered bets the Federal Reserve will cut interest rates this year. The New Zealand dollar fell sharply from a four-week high after the Reserve…
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As Crypto Markets Wrestle With Adversity These Three Coins are Performing admirably XRP, RLBK, and BNB Discover Why
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The cryptocurrency market has been turbulent since July. Many tokens have seen their value drop sharply. However, three cryptocurrencies are still holding up — Rollblock, XRP, and Binance Coin. XRP and Binance Coin have seen a strong rebound after a sharp drop in early August. Meanwhile, Rollblock is a relative…
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As Crypto Markets Wrestle With Adversity These Three Coins are Performing admirably XRP, RLBK, and BNB Discover Why
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The cryptocurrency market has been turbulent since July. Many tokens have seen their value drop sharply. However, three cryptocurrencies are still holding up — Rollblock, XRP, and Binance Coin. XRP and Binance Coin have seen a strong rebound after a sharp drop in early August. Meanwhile, Rollblock is a relative…
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RBNZ Surprised With A 25bps Rate Cut As A “Reasonable First Step” Amidst Cooler Inflation And Slower Growth
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The New Zealand Dollar fell sharply earlier today, and no, it’s not because your trading platform suffered from a “Massive DDoS attack.“ A few hours ago, the Reserve Bank of New Zealand surprised the markets with Official interest rate cut by 25 basis points to 5.25% While many market participants…
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Eurostoxx futures +0.3% in early European trading
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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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Thyssenkrupp swings to quarterly net loss as one-offs bite By Reuters
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By Christoph Steitz FRANKFURT (Reuters) – Thyssenkrupp swung to a net loss in the third quarter on higher-than-expected costs for legacy projects in its plant engineering business, the company said on Wednesday, adding that it had also halted the sale of one of its units. The company said it posted…
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Asia FX gains as dollar dips ahead of CPI data; Kiwi battered by rate cut By Investing.com
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Most Asian currencies rose on Wednesday, while the dollar fell after a weak reading on U.S. producer inflation raised hopes that a similar easing in consumer inflation would lead to deeper interest rate cuts. The New Zealand dollar was an exception, posting sharp losses after the Reserve Bank of New…