Category: October
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Eurozone October PMIs Mixed, As Improvements Seen in Germany
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Flash PMI readings from the euro zone painted a mixed picture for the economy in October, with improvements seen in Germany but France reporting a slowdown in the manufacturing and services sectors. France’s manufacturing PMI fell to 44.5 instead of rising to 44.9 during the month, reflecting a sharper pace…
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Daily Broad Market Recap – October 23, 2024
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The major assets were all over the charts on Wednesday. US Treasury yields continued to rise, pushing the US dollar higher and dragging gold prices lower. Risk assets such as stocks and Bitcoin weakened, while crude oil prices failed to make new weekly highs. What were the catalysts that moved…
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Daily Broad Market Recap – October 22, 2024
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There was no significant data, leaving major assets exposed to current market issues and growing concerns about the US economy. How have your closely watched assets traded in recent trading sessions? Let’s discuss it below: Titles: Member of the European Central Bank Olly Wren He said the eurozone slowdown was…
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Daily Broad Market Recap – October 21, 2024
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Major assets were all over the charts on Monday despite the lack of high-level data releases. Crude oil found support from rising tensions in the Middle East while gold prices fell after hitting new record highs. How are your other closely monitored assets trading? We have deets! Titles: As expected,…
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Global Market Weekly Recap: October 14 – 18, 2024
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Typical market correlations appear to have been out of sync throughout the week, with asset classes driven more by individual catalysts than broad market themes. However, some risk-off reactions were seen due to the lackluster reaction to China’s stimulus announcement at the beginning of the week and ongoing geopolitical tensions.…
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Daily Broad Market Recap – October 17, 2024
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A busy trading calendar meant that major assets were exposed to asset-specific catalysts and new market themes! What headlines caught investors’ attention and how did your favorite asset trade? Let’s analyze the major market movements on Thursday: Titles: Japanese trade balance It shifted to a deficit of JPY294.24 billion in…
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ECB Cuts Rates in October, Signals Openness to Further Adjustments
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In a unanimous decision and as markets expected, ECB members cut key interest rates by 25 basis points as of October 23: the Deposit rate It is now down to 3.25% the Prime refinancing rate I will retreat to 3.40% the Marginal lending facility rate It will ease to 3.65%…
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Daily Broad Market Recap – October 16, 2024
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Major currencies and asset classes appear to be taking their cues from their individual catalysts, with UK inflation data and the “Trump trade” taking center stage. Crude Oil saw its usual downward trajectory, although the energy commodity managed to limit its losses in recent sessions compared to the sharp sell-off…
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Daily Broad Market Recap – October 15, 2024
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Some risk-off flows were seen in the markets, as crude oil continued to decline and US stock indices closed in the red. Meanwhile, volatility rose in the forex arena due to high-profile releases, including the UK jobs report and Canada’s CPI readings. Here’s what you need to know! Titles: Japanese…
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Bitcoin Mining Profitability Slumped In September – What’s In Store For October?
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According to a recent report from Jefferies, Bitcoin (BTC) mining profitability declined in September while the network hash rate continued to rise. Bitcoin mining profitability is on a downward trend In a report published on Sunday, investment bank Jefferies explained that Bitcoin mining profitability fell in September compared to August.…
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FX option expiries for 15 October 10am New York cut
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There are some great stocks on the board today but they may not be activated given the current spot price levels. The EUR/USD pair is at 1.1000, but with the dollar holding strong, this is unlikely to affect the price action in the next session. There are also some big…
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Daily Broad Market Recap – October 14, 2024
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Market correlations seemed to be all over the place on Monday, as Crude Oil experienced a massive sell-off while US stocks made good gains. What’s up with that?! Read on to see the latest headlines and economic reports driving price action so far: Titles: Chinese Minister of Finance She said…
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Monday morning open levels – indicative forex prices for 14 October 2024
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High risk warning: Foreign exchange trading involves a high level of risk that may not be suitable for all investors. Leverage creates more risk 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 or…
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Weekly Market Outlook (14-18 October)
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Upcoming events: Monday: US, Canada, Federal Reserve Bank holiday. (US stock market open/bond market closed) Tuesday: UK Labor Market Report, German ZEW, Canadian CPI, New Zealand CPI Q3. Wednesday: UK Consumer Price Index. Thursday: Australian labor market report, European Central Bank policy decision, US retail sales, US unemployment claims, US…
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US October UMich prelim consumer sentiment 68.9 vs 70.8 expected
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The final reading for September was 70.1 Current conditions 62.7 vs. 64.3 expected (previous 63.3) Expectations: 72.9 vs. 75.0 expected (previous 74.4) One-year inflation: 2.9% vs. 2.7% previously 5-year inflation 3.0% vs. 3.1% previously I do not attach much importance to this report because it is highly politicized and we…
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Trump-Backed DeFi Project Set To Launch WLFI Token Sale October 15
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This article is also available in Spanish. Former President Donald Trump forays into decentralized finance (DeFi) with his initiative, Global financial freedomhas officially begun onboarding users, and the public sale of its WLFI token is scheduled to take place on October 15. This announcement comes as the project aims to…
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FX Weekly Recap: October 7 – 11, 2024
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The forex markets saw many themes at play, including geopolitical developments, central bank commentary, and top tier economic releases. Safe-havens like the Swiss franc and Japanese yen outperformed, while the “risk-on” currencies rode a rollercoaster of broad risk sentiment headlines and individual country stories. USD Pairs Overlay of USD vs.…
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Daily Broad Market Recap – October 10, 2024
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All eyes and ears were on the release of the US CPI… which didn’t cause much hype in the markets. However, crude oil gained a massive 3% for the day. Read on to find out why! Titles: Japan’s producer prices rose from 2.6% to 2.8% year-on-year in September instead of…
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Mt. Gox Delays Repayment Plan Until October 2025
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This article is also available in Spanish. In a development that could provide relief to Bitcoin (BTC) and the broader cryptocurrency ecosystem, Mt.Gox, the defunct Cryptocurrency exchange Which was hacked in 2014, announced a major delay in the payment plan for affected creditors. The original repayment date was set for…
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Bitcoin Price Flashes Fractal Similar To October 2023, Here’s What Happened Last Time
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This article is also available in Spanish. Cryptocurrency analyst TradingShot recently revealed that Bitcoin’s price is shaping up similarly Fractal pattern To what happened in October 2023. This is bullish for major cryptocurrencies, considering what happened last year when the fractal pattern formed. Bitcoin prices flash a fractal similar to…