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Daily Broad Market Recap – October 9, 2024
A lack of fresh market catalysts kept major assets in ranges early in the day, before central bank speculation and positioning ahead of US CPI reports increased volatility in the US session.
Which assets have seen the most movement?
We…
Whales Put $100B into BTC: Is a Rally Coming?
Bitcoin (BTC) is attracting attention with new whale transactions and rising ETF inflows. Recently, more than $100 billion has been pumped into Bitcoin by large players, known as whales. Could this mean a new high in BTC prices? In this…
GSK shares jump after settlement of 80,000 Zantac lawsuits in U.S By Reuters
(Reuters) - GlaxoSmithKline shares rose 6 percent on Thursday after the British drugmaker agreed to pay up to $2.2 billion to settle lawsuits in the United States alleging that the discontinued heartburn drug Zantac causes cancer. The…
Dollar hits 10-week high vs yen as Fed easing bets ebb ahead of CPI By Reuters
Written by Kevin Buckland TOKYO (Reuters) - The U.S. dollar rose to a 10-week high against the yen on Thursday as markets grew more confident about the Federal Reserve's patient approach to further monetary easing, even as a key inflation…
Chart Art: WTI Crude Oil (USOIL) Triangle Resistance Bounce
Are crude oil bears about to stay in the game longer?
A look at the daily time frame of the energy commodity shows a large bearish triangle pattern that has been in place since November of last year.
WTI (USOIL) daily Chart by…
US inflation the main event in the day ahead
Core US CPI YoY (%)So, what did I miss?The dollar remained well positioned over the past week as traders agreed to price in the Fed's 25 basis point interest rate cut for November now. The soft landing scenario seems more and more certain…
Former Pfizer executives not involved in Starboard’s campaign against drugmaker By Reuters
(Reuters) - Pfizer (NYSE:) former CEO and Chairman Ian Read and former CFO Frank D'Amelio said in a statement that they will not partner with activist investor Starboard Value, which wants the US pharmaceutical giant to make…
September FOMC Minutes: 25bps Cut Was On The Table, Members Reject Pre-Set Path
This was revealed in the minutes of the September decision A “large majority” voted in favor of a 50 basis point rate cut to the target range of 4.75% – 5.00%, mostly because it would raise interest rates to “Better alignment with recent…
PBOC is expected to set the USD/CNY reference rate at 7.0734 – Reuters estimate
The People's Bank of China is scheduled to release the USD/CNY reference exchange rate at approximately 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…
US stock index futures flat with CPI data in focus By Investing.com
Investing.com -- U.S. stock index futures were slightly lower in overnight trade on Wednesday, as investors braced for key consumer inflation data likely to weigh on interest rate expectations.
Futures settled after a positive session on…
