Forex News
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Nvidia’s market value crossed $3 trillion for the first time Wednesday, propelling the chipmaker above Apple to become the second-most valuable company in the world. The chipmaker, whose processors are central to powering the current artificial intelligence (AI) craze, saw its shares climb 5.16 percent Wednesday ahead of Friday’s stock split. Microsoft ...
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Banknotes featuring a portrait of King Charles III entered circulation on Wednesday for the first time, the Bank of England said in a statement. Charles will be pictured on the front of the £5, £10, £20, and £50 banknotes, and will be seen through the notes’ see-through security window. Otherwise the notes will remain unchanged in their design. As well as ...
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GDP, or gross domestic product, is all over financial news. It’s a measure of the value of all the goods and services in a country, but what does it actually mean? Well, it works as an indicator for how well or poorly a nation’s overall economy is faring. Do policies need adjusting? Are people gainfully employed? Watch to learn how GDP works and why it ...
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Good morning. I’m pleased to be here with Senior Deputy Governor Carolyn Rogers to discuss today’s policy announcement. Governing Council decided monetary policy no longer needs to be as restrictive and lowered the policy interest rate by 25 basis points to 4.75%. We’ve come a long way in the fight against inflation. And our confidence that inflation will continue to move closer to the 2% target has increased over recent months. The considerable progress we’ve made to restore price stability is welcome news for Canadians. Since our Monetary Policy Report in April, underlying inflation has continued to ease and economic growth has resumed. With the economy in excess supply, there is room for growth even as inflation continues to recede. Let me provide a little more detail about these dynamics. After stalling in the second half of last year, economic growth picked up in the first quarter of this year. At 1.7%, growth was lower than projected in the April report. But consumption growth was solid at about 3%, and business investment and housing activity also increased. In the labour market, businesses are continuing to hire workers. Employment has been growing, but at a slower pace than the working-age population. This has allow post: BoC’s Macklem: Timing Of Further Cuts Depends On Data, Will Be Taking Decisions One Meeting At A Time post: *MACKLEM: PATH OF INTEREST RATES LIKELY TO BE GRADUAL post: *MACKLEM: DON'T NEED TO MOVE IN LOCKSTEP WITH FEDERAL RESERVE post: BoC’s Macklem: There Are Limits To How Far BoC Can Diverge From Fed; Currently Not Close To Limits
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The European Central Bank this week is set to cut borrowing costs for the euro area for the first time since September 2019. It will mark the official end to the record fast-hiking cycle that begun after the Covid-19 pandemic as inflation soared. But investors’ attention looks like it has already moved on to what will happen after this June cut by the ...
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The US Dollar remains on the defensive this week with DXY trading into yearly trend support ahead of major event risk over the next week. The focus is on a key pivot zone around the yearly moving average with the broader December rally now at risk. These are the updated targets and invalidation levels that matter on the DXY weekly technical chart. chart ...
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The US services sector expanded in May by the most in nine months, powered by the largest monthly gain in a measure of business activity since 2021. The Institute for Supply ...
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The May US ISM services index rose quite a bit more than expected to a nine month high of 53.8 from 49.4. It was led by strong business activity (61.2 versus 50.9 in April) and ...
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The Bank of Canada has cut its policy rate by 25 basis points to 4.75%, as we thought it would. Around 20bp of the 25bp cut were priced ahead of time, with around 21 out of 30 ...
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Economic activity in the services sector grew in May after contracting in April for the first time since December 2022, say the nation's purchasing and supply executives in the ...
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Private sector employment increased by 152,000 jobs in May and annual pay was up 5.0 percent year-over-year, according to the May ADP® National Employment ReportTM produced by the ...
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U.S. crude oil refinery inputs averaged 17.1 million barrels per day during the week ending May 31, 2024, which was 61 thousand barrels per day more than the previous week’s ...
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The US Dollar remains on the defensive this week with DXY trading into yearly trend support ahead of major event risk over the next week. The focus is on a key pivot zone around the yearly moving average with the broader December rally now at risk. These are the updated targets and invalidation levels that matter on the DXY weekly technical chart. chart ...
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NZDUSD has been in an aggressive uptrend following its 2024 bottom of 0.5851 in mid-April. On Tuesday, the pair stormed to its highest level since March 8 before sustaining minor losses probably due to some profit taking. Should the bulls attempt to push the price higher, immediate resistance could be found at the February-March double top region of 0.6215. ...
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Only a few weeks remain until the world’s premier online trading event, iFX EXPO International 2024, opens its doors to thousands of global industry professionals and C-level executives on the beautiful Mediterranean island of Cyprus. Registrations are still open for this year’s showpiece expo, which is back bigger and better than ever before, returning to ...