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Join Discuss about REAL with like-minded investors
ich habe wieder Pro Real Time
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By Stephen Culp NEW YORK (Reuters) -U.S. stocks resumed their uphill climb led by interest rate sensitive megacaps on Wednesday, while crude prices slid as investors digested economic data and the postponement of the OPEC+ meeting that was to take place this Sunday. All three major U.S. stock indexes were green ahead of the U.S. Thanksgiving holiday, with interest rate sensitive momentum stocks putting the tech-laden Nasdaq in the lead. After Tuesday's closing bell, chipmaker Nvidia (NASDAQ:NVDA) reported revenue well above Wall Street expectations after the market close, but shares were off due to the company's downbeat China sales outlook. A spate of economic data, including jobless claims, durable goods, and consumer sentiment, suggested that the economy is softening after about 20 months of policy tightening from the Federal Reserve, but remains resilient enough to potentially avoid recession. "People feel good going into the Thanksgiving holiday," said Peter Tuz, president of Chase Investment Counsel in Charlottesville, Virginia. "Consumer sentiment was up quite a bit, there’s an indication that consumer spending remains fairly strong going into the holiday shopping season." Wall Street's rally was modest but broad-based, with energy stocks the clear outlier, tumbling in tandem with crude prices after the OPEC+ group of oil producing nations postponed their scheduled Sunday meeting, raising questions about crude production cuts. "The delay of the meeting indicates differences of opinion regarding production cuts going forward," Tuz added. "If everyone was on board there’d be no need to postpone the meeting." The Dow Jones Industrial Average rose 150.12 points, or 0.43%, to 35,238.41, the S&P 500 gained 20.47 points, or 0.45%, to 4,558.66 and the Nasdaq Composite added 83.79 points, or 0.59%, to 14,283.77. European stocks touched a two-month high, led by real estate shares, while a gauge of euro zone volatility dipped to its lowest level since July. The pan-European STOXX 600 index rose 0.36% and MSCI's gauge of stocks across the globe gained 0.11%. Emerging market stocks lost 0.57%. MSCI's broadest index of Asia-Pacific shares outside Japan closed 0.53% lower, while Japan's Nikkei rose 0.29%. Benchmark Treasury yields wobbled after fairly strong jobless claims data unsettled a market that expects the Fed to begin cutting interest rates as early as June 2024. Benchmark 10-year notes last fell 4/32 in price to yield 4.4314%, from 4.418% late on Tuesday. The 30-year bond last rose 9/32 in price to yield 4.5633%, from 4.58% late on Tuesday. The greenback rebounded from a 2-1/2 month low after minutes from the Federal Reserve's most recent policy meeting suggested interest rates would remain restrictive for some time. The dollar index rose 0.56%, with the euro down 0.43% to $1.0862. The Japanese yen weakened 0.82% versus the greenback at 149.64 per dollar, while Sterling was last trading at $1.2456, down 0.65% on the day. U.S. crude fell 4.58% to $74.21 per barrel and Brent was last at $78.91, down 4.29% on the day. Gold prices dipped below the key $2,000 per ounce level as the dollar gained strength. Spot gold dropped 0.4% to $1,991.09 an ounce.
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My advise is sometimes go on the charts to see the examples real time playing out on your charts it add meaning and sure you can demo trade to be able to put your learnings into practice. > @CharlesW said: Hello Brian I am taking the course nice and slow doing my best to absorb the material like a sponge. Annas' books are so well written it is like taking a class through them. I am not going to start trading until I finish the whole course. I have taken to listening to trader psychology books to help me be more mentally prepared when the time comes to place my first trade.
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By Brigid Riley TOKYO (Reuters) -The dollar sputtered at broadly lower levels on Wednesday after slumping overnight as a surprisingly softer U.S. inflation reading bolstered bets that the Federal Reserve has reached the end of its monetary tightening cycle. The offshore Chinese yuan, meanwhile, received some support after domestic industrial output and retail sales growth beat expectations. The activity data generally appeared to be "further evidence of very slow progress being made" in China's economy, said Rob Carnell, Asia-Pacific Head of Research and Chief Economist at ING. The offshore yuan briefly ticked up to a three-month high of $7.2385 against the dollar before easing back somewhat to $7.2477. At the same time, glum news continued to roll out of China's property sector, with sales falling at a faster pace in October and investment in real estate slumping, official data showed. With no end in sight for problems in the sector, that's likely to seep into other parts of the Chinese economy, "keeping them just a little bit mediocre," said Carnell. The New Zealand dollar, which can act as a proxy for China, ticked up to a one-month high of $0.6029 against the dollar. The sell-off in the dollar drove a rally for many of its peer currencies, with the euro sitting just below an over two-month high hit on Tuesday. The frenetic currency market activity was sparked by data showing U.S. consumer prices were unchanged in October, with the annual rise in underlying inflation the smallest in two years. In the 12 months through October, the CPI climbed 3.2% - below economists' estimates - after rising 3.7% in September. The data prompted market participants to all but eliminate the chance of another rate hike at the Fed's December monetary policy meeting, while bets of a rate cut in May next year increased to around 50%, according to the CME Group’s FedWatch Tool. Traders reacted quickly to the shift in market pricing by sending the dollar tumbling 1.5% overnight against major currencies. At the same time, U.S. Treasury yields, which have helped to boost the greenback, tumbled. The dollar index, which measures the currency against a basket of peers, last stood at 104.14, not far from Tuesday's two-month low of 103.98. With the dollar on the back foot, the euro settled around $1.08725 after touching its highest since August the previous day. The pound was fetching $1.2489, around levels last seen in September. The greenback's overnight fall saw some relief for the languishing yen, which eased off Monday's fresh one-year low of 151.92. Dollar/yen crept up slightly to 150.68, as data revealed Japan's economy contracted in July-September, complicating the central bank's efforts to gradually exit from its ultra-easy monetary policy. Still, Moh Siong Sim, currency strategist at the Bank of Singapore, sees softer U.S. yields and the risk of intervention by the Japanese government limiting the likelihood of the yen weakening much further than it already has. Between those factors and a Fed which is likely to retain a somewhat hawkish tone, dollar/yen is a "range-bound story for the time being," he said.
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By Sruthi Shankar and Amruta Khandekar (Reuters) - Wall Street's main indexes slipped on Monday as investors awaited a crucial inflation reading and other economic data this week that could shape expectations around how long the Federal Reserve will keep interest rates elevated. Megacap growth stocks were a big drag, as the benchmark U.S. 10-year Treasury yield rose. Shares of Microsoft (NASDAQ:MSFT), Amazon.com (NASDAQ:AMZN) and Apple (NASDAQ:AAPL) fell between 0.5% and 1.5% in early trade. Eight of the 11 major S&P 500 sectors were in the red, with rate-sensitive real estate stocks down 1.2% and leading declines. This week's economic data as well as speeches from Fed officials will provide clues on the trajectory of interest rates amid growing expectations that the Fed is done hiking borrowing costs. A report on Tuesday is expected to show headline consumer prices eased to 3.3% in October from 3.7% in September. However, core prices are seen unchanged from the previous month. "If the year-over-year (number) continues to show a decline, then that seals the fact that the Fed is not going to raise in December and most likely they're done with the hiking campaign," said Peter Cardillo, chief market economist at Spartan Capital Securities. The major U.S. stock indexes have rebounded strongly this month, fueled by a stronger-than-expected earnings season and on hopes that U.S. interest rates are near their peak. The benchmark S&P 500 closed at near eight-week highs on Friday, while the tech-heavy Nasdaq hit a two-month peak. Traders have priced in a nearly 86% chance that the Fed will hold interest rates in December, but have pushed back bets of rate cuts to June from May, according to the CME Group's (NASDAQ:CME) FedWatch tool. Adding to the cautious mood, Moody's (NYSE:MCO) lowered its outlook on the U.S. credit rating to "negative" from "stable", citing large fiscal deficits and a decline in debt affordability. "With the absence of macro news and the strong rally that we had on Friday, the downgrade and the anticipation of the inflation data is inducing some selling this morning," Cardillo said. U.S. House of Representatives Speaker Mike Johnson unveiled a Republican stopgap spending measure on Saturday aimed at averting a government shutdown on Friday, but the measure quickly ran into opposition from lawmakers from both parties in Congress. At 9:41 a.m. ET, the Dow Jones Industrial Average was down 20.28 points, or 0.06%, at 34,262.82, the S&P 500 was down 19.10 points, or 0.43%, at 4,396.14, and the Nasdaq Composite was down 96.40 points, or 0.70%, at 13,701.71.Medtech companies such as Dexcom (NASDAQ:DXCM), Abbott and Insulet (NASDAQ:PODD) rose between 2% and 5% as analysts said data for cardiovascular benefits for Novo Nordisk (NYSE:NVO)'s weight-loss drug Wegovy is better than feared for the companies. Cushioning the Dow, Boeing (NYSE:BA) climbed 5.1% after Bloomberg News reported that China is considering resuming purchases of 737 Max aircraft. Declining issues outnumbered advancers for a 2.49-to-1 ratio on the NYSE and for a 2.18-to-1 ratio on the Nasdaq. The S&P index recorded 11 new 52-week highs and one new low, while the Nasdaq recorded 19 new highs and 82 new lows.
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**November 06 – The aftermaths of cooler jobs continue** Last week’s market reactions underscore the risks associated with central banks discussing data dependence without clarifying their medium-term framework or how they expect policy to impact the real economy. https://analysis.hfeu.com/en-eu/744866/
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The real winners in the economy are those folks who put out videos on how to save money on fast food while getting paid by those same fast food sponsors to make such videos
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By Ankur Banerjee SINGAPORE (Reuters) - Asian stocks edged higher on Wednesday ahead of a keenly awaited policy decision from the Federal Reserve later in the day, while the yen was stuck near one-year lows against the dollar as Tokyo ramped up intervention warnings. MSCI's broadest index of Asia-Pacific shares outside Japan was 0.14% higher. The index has clocked three straight months of losses. Japan's Nikkei was 2% higher. European stocks looked set to open on a surer footing, with the Eurostoxx 50 futures up 0.34%, German DAX futures up 0.37% and FTSE futures 0.27% higher. The spotlight on Wednesday will firmly be on the Federal Reserve's policy decision, with the central bank widely expected to hold rates steady. Comments from Fed Chair Jerome Powell will be scrutinized to gauge where interest rates are headed and how long they will stay higher. Erik Weisman, chief economist and portfolio manager at MFS Investment Management, said the Fed will keep the option of future rate hikes firmly on the table until the labour market cools considerably and inflationary pressures ease. "Chairman Powell will also argue that the lagged effects of past hikes have not fully impacted the economy and that patience is prudent." Markets are pricing in a 29% chance of a 25 basis point hike in December and a 35% chance of a 25 bps hike in January, the CME FedWatch tool showed. Treasury yields remained elevated, with the yield on 10-year Treasury notes up 4.5 basis points to 4.920%. The yield on the 30-year Treasury bond was up 5.4 basis points to 5.078%. [US/] The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was up 1.2 basis points at 5.083%. Claudio Irigoyen, global head of economics at BofA Global Research, said the most important question for the next three to five years in the discussion about U.S. fiscal policy is whether interest rates will go back to pre-pandemic levels. "Or if this is a new regime of higher real interest rate," Irigoyen said. "And I think that I am more on the camp of the second option." YEN VIGIL Market focus in Asia was firmly on the yen in the wake of the Bank of Japan's decision to tweak its bond yield control policy again on Tuesday, further loosening its grip on long-term interest rates. The move drove a broad slide in the yen on Tuesday, tumbling to a one-year low against the dollar and touching a 15-year low against the euro as investors had expected a bigger BOJ step towards ending years of massive monetary stimulus. "The market has seen the tweak to a flexible regime as clear dovish development," said Chris Weston, head of research at Pepperstone. "Once again market players have been left frustrated by the lack of urgency shown by the BOJ, and either closed yen longs or flipped into outright yen shorts." The sharp drop in the yen prompted a fresh and sterner warning from Japan's top currency diplomat Masato Kanda that authorities were on standby to respond to recent "one-sided, sharp" moves in the currency. The yen strengthened 0.24% to 151.31 per dollar following the comments but remained close to one-year lows of 151.74 it hit on Tuesday and the three-decade low of 151.94 touched last year, which triggered an intervention by Tokyo at the time. Against a basket of currencies, the dollar was up 0.075% at 106.75. Sterling was last at $1.2135, down 0.16% on the day. China shares was up 0.14%, while the Hong Kong's Hang Seng Index eased 0.09%. Data on Wednesday showed Asia's manufacturers faced worsening pressure in October with factory activity in China slipping back into decline, clouding recovery prospects for the region's major exporters already squeezed by weaker global demand and higher prices. Oil prices inched higher ahead of the Fed decision, with the market keeping a close eye on the latest developments in the Israel-Hamas conflict. U.S. crude rose 0.07% to $81.08 per barrel and Brent was at $85.20, up 0.21% on the day. [O/R] Asian stocks subdued ahead of Fed, frail yen in focus
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trawling thru twitter and YouTube, folks sounding real bearish. last week was an ugly candle and Friday was a fairly ugly close but insiders not very bearish and things look really oversold. maybe BOJ on Tuesday will be tha catalyst for a rally. I added some longs late last week but will wait. seasonality is on our side from 1st Nov
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only real threat left is boj and Fed. iF boj removes control on 10yr and lefts it go higher it could be a big day on the markets i presume as it will allow Yen to rise and put downward pressure on $. Good for equities i would have thought but i am no currency guy
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@ Juergen,. Das ist keine andere Art des Tradens, sondern so ist Traden wirklich!! Real Traders! Nicht das was uns auf You Tube, Instagramm und Co gezeigt wird. Diese Leute bekommst du nicht zu Gesicht! Sie beherrschen den Markt mit purer Size. Es gibt immer nur 1-2 große Player in einem Markt. Der Rest ist Fußvolk und zahlt ein...
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Real Traders!!! 👍
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salve a tutti, scusate una domanda: sto iniziando ad osservare i grafici con candele HA con tf 5 minuti... come devo interpretare il valore HA rispetto al valore in real time? esempio dax real 14821, dax HA 14814, capita che muovendosi poi si avvicinino anche di un solo punto, grazie ed abbiate pazienza
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@Arunas #PRO Traders
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By Natalie Grover LONDON (Reuters) -Global oil benchmark Brent hit $93 a barrel on Wednesday as the risk of escalating conflict in the Middle East threatened to disrupt oil supplies from the region, with Iran calling for an oil embargo to be imposed on Israel. Brent crude futures were up $1.33, or about 1.5%, to $91.23 a barrel at 1231 GMT. West Texas Intermediate crude (WTI) futures were up $1.28, or roughly 1.5%, at $87.94 a barrel. Both benchmarks gained more than $3 to touch their highest levels in two weeks earlier in the session. Markets factored in risk premiums after hundreds of Palestinians were killed in a blast at a Gaza City hospital on Tuesday that Israeli and Palestinian officials blamed on each other. Jordan then cancelled a summit it was to host with U.S. President Joe Biden and Egyptian and Palestinian leaders. Biden arrived in Israel on Wednesday pledging solidarity in its war against Hamas, and backing its account that the Gaza hospital blast had been caused by militants. "This turn of diplomatic fortunes again garners fear of conflict spread and therefore the leap in oil," said John Evans of oil broker PVM. Elsewhere in the Saudi city of Jeddah, Iranian Foreign Minister Hossein Amirabdollahian urged members of the Organisation of Islamic Cooperation to impose an oil embargo on Israel. OPEC+ is not planning to take any immediate action on Iran's call, two sources from the producer group told Reuters. "A long occupation looms as the scenario that pushes Brent oil futures above $US100/bbl because it raises the risk that the Israel Hamas conflict expands and potentially draws in Iran directly," added Vivek Dhar, an analyst at Commonwealth Bank of Australia (OTC:CMWAY). Geopolitical tensions aside, other drivers are also supporting oil prices. U.S. crude stocks fell by a much-steeper-than-expected 4.4 million barrels in the week ended Oct. 13, compared to the forecast of a 300,000 barrel fall, according to market sources citing American Petroleum Institute figures on Tuesday. [API/S] Official U.S. government data is due later on Wednesday. On the demand side, China's economy grew faster-than- expected in the third quarter, official data on Wednesday showed, suggesting a recent flurry of policy measures is helping to bolster a tentative recovery. Data also showed that the country's oil refinery throughput in September hit a record daily rate, up 12% from a year earlier, as refiners increased run rates to cater for strong demand for transport fuel over the Golden Week holiday and improving manufacturing activity. But analysts sounded caution on China's economy, with the country's real estate sector still in peril. "The economic recovery is still in its infancy," Moody's (NYSE:MCO) Analytics economist Harry Murphy Cruise said. Meanwhile, higher-than-expected September U.S. retail sales spurred expectations of another interest rate hike by year-end. Interest rate hikes to curb inflation can slow economic growth and reduce oil demand.
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By Ankika Biswas and Shashwat Chauhan (Reuters) - Wall Street's main indexes fell on Tuesday as Treasury yields rose following hotter-than-expected economic data, while chipmakers fell after the Biden administration said it was halting shipments of AI chips to China. U.S. retail sales rose 0.7% in September, compared with estimates of a 0.3% rise, according to economists polled by Reuters, as households boosted purchases of motor vehicles and spent more at restaurants and bars, suggesting the economy ended the third quarter on a strong note. "This is a persistent story ... you can never bet against the U.S. consumer, and this is evidence of it," said Thomas Hayes, chairman at Great Hill Capital. U.S. Treasury yields extended their advance after the data, with 10-year yields up at 4.8552%, pressuring megacaps Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT), Alphabet (NASDAQ:GOOGL) and Amazon.com (NASDAQ:AMZN), down between 0.9% and 1.9%. Nvida dipped 6.8% after the Biden administration said it plans to halt shipments of advanced artificial intelligence chips to China. Other chip stocks Advanced Micro Devices (NASDAQ:AMD), Marvell (NASDAQ:MRVL) Technology, Qualcomm (NASDAQ:QCOM) and Arm Holdings (NASDAQ:ARM) fell between 1.5% and 3.8%. The Philadelphia SE Semiconductor index dropped 3% to hit a near two-week low. On the earnings front, Bank of America gained 0.5% as it joined rivals in earning more from interest payments by its customers, while investment banking and trading fared better than expected. Goldman Sachs third-quarter profit dropped less than expected as a nascent recovery in dealmaking offset its $864 million writedown related to GreenSky fintech business and investments in real estate. "People continue to underestimate the strength of the economy, they continue to underestimate the strength of the consumer and there's nowhere better to reflect that than in bank earnings which have just been off the charts," Hayes added. Investors also kept tabs on the conflict in the Middle East as Iran's Supreme Leader Ayatollah Ali Khamenei said Israel's "genocide" of Palestinians in the Gaza Strip should stop immediately, state TV reported, sparking concerns the conflict could escalate. U.S. President Joe Biden is set to visit Israel on Wednesday, after Washington said Prime Minister Benjamin Netanyahu had agreed to allow humanitarian aid to reach Gazans. Several Federal Reserve officials are set to speak during the day, including New York's John Williams, Richmond's Thomas Barkin, and Minneapolis' Neel Kashkari. At 9:48 a.m. ET, the Dow Jones Industrial Average was down 44.46 points, or 0.13%, at 33,940.08, the S&P 500 was down 30.78 points, or 0.70%, at 4,342.85, and the Nasdaq Composite was down 176.28 points, or 1.30%, at 13,391.71. Information technology and consumer discretionary led declines amongst the major S&P 500 sectors, while energy and materials advanced. Among individual stocks, Dollar Tree (NASDAQ:DLTR) rose 2.5% after Goldman Sachs upgraded the discount retail chain's shares to "buy" from "neutral". Cloud computing firm VMware (NYSE:VMW) fell 8.8% as traders cited China approval uncertainty for Broadcom (NASDAQ:AVGO)'s $61 billion cash-and-stock deal for the company. Declining issues outnumbered advancers by a 1.00-to-1 ratio on the NYSE. Advancing issues outnumbered decliners by a 1.49-to-1 ratio on the Nasdaq. The S&P index recorded six new 52-week highs and five new lows, while the Nasdaq recorded 15 new highs and 70 new lows.
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The biggest threat of AI is on their population. They need propaganda to control the masses. No doubt the population is getting restless with all the real estate and youth unemployed
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The only real question is does Hezbollah start firing rockets into Israel. That would be a leg down event IMO
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@LPT_David #Low Profile Trader
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thanks for thinking positively > @mat said: it looks nice and now a real account
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Thank you sir , be patient I posses the worlds largest borrowing power . Who cares what type of account , be real , say something worth our time . Those are not hourly trades , those are trades that take time to be signaled in the market , and time to close positively or negatively without the word rush involve or what type of account , you seem to lack understanding , just to create open conversation .
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They may work only in certain markets because I was real hot and then cooled off, so I changed to another strategy.
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for real > @Snowcow said: yeah he does he has a NICE studio
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it looks nice and now a real account
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By Rae Wee SINGAPORE (Reuters) - The dollar was largely rangebound on Wednesday, though remained weighed down by dovish Federal Reserve comments, as traders awaited the central bank's policy meeting minutes due later in the day for more clues on its interest rate outlook. A slew of Fed officials have signalled in recent days that the U.S. central bank may not need to tighten monetary policy much further than initially thought. Atlanta Fed Bank President Raphael Bostic said on Tuesday the central bank did not need to raise borrowing costs any further, and Minneapolis Fed President Neel Kashkari followed with similar remarks later in the day. The greenback sat near a two-week low against a basket of currencies on Wednesday and last stood at 105.80. Sterling rose to a three-week high of $1.23035, while the euro last bought $1.0604, not far from Tuesday's more than two-week top of $1.0620. "The Fed is shifting away from further rate hikes, and its tightening bias too may be dropped by December," said Thierry Wizman, Macquarie's global FX and interest rates strategist. U.S. Treasury yields have similarly tracked lower following the dovish Fed comments, with the two-year yield, which typically reflects near-term rate expectations, hitting a one-month low of 4.9260% on Tuesday. It was last at 4.9990%. The benchmark 10-year yield stood at 4.6407%. [US/] The focus now turns to minutes of the Fed's September policy meeting out later on Wednesday, which could offer further clues on its interest rate outlook. U.S. inflation data is due the next day. "I think markets will be particularly interested in whether or not the (Federal Open Market Committee) will follow through with the extra 25-basis-point hike forecast in (its) latest dot plot," said Carol Kong, a currency strategist at Commonwealth Bank of Australia (OTC:CMWAY) (CBA). "Any comments that are perceived to be slightly dovish, I think the unwind of yields can continue and that can weigh down on the U.S. dollar more." CHINA AID? The Australian dollar rose to a more than one-week high of $0.6445 while the New Zealand dollar scaled a two-month top of $0.6056, helped slightly by a report saying China is weighing new stimulus measures, though they later reversed those gains. The two Antipodean currencies are often used as liquid proxies for the yuan. The Aussie was last 0.12% lower at $0.64235, while the kiwi fell 0.31% to $0.6029. China is looking to increase its budget deficit for 2023 as the government prepares to bring a new round of stimulus to help the economy meet Beijing's annual growth target, Bloomberg News reported on Tuesday. "Markets are still pretty cautious about whether or not the government will introduce a large scale stimulus given they have been reluctant this past year about unleashing any large scale stimulus. So I think markets are a little bit unsure whether that report is real," said CBA's Kong. "If that report is true and Chinese officials come out with a big stimulus package, that will obviously boost (the yuan) and currencies linked to the Chinese economy." The yuan was little changed against the dollar in both the onshore and offshore markets, with the onshore yuan last at 7.2942 per dollar.
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Investing.com -- Oil prices edged lower Tuesday, handing back some of the previous session’s hefty gains as traders digest the possibility of a wider impact from the conflict between Israel and the Palestinian Islamist group Hamas. By 09:25 ET (13.25 GMT), the U.S. crude futures traded 0.4% lower at $86.08 a barrel, while the Brent contract dropped 0.3% to $87.86. Will Iranian supply be impacted by conflict? Both benchmark contracts surged more than 4% Monday on concerns the war between Hamas and Israel, which exploded into deadly violence over the weekend, will result in other countries in the oil-rich region being dragged into the conflict. Iran, in particular, has always voiced its support for Hamas, and questions are being asked over the extent of its assistance. "There is still plenty of uncertainty across markets following the attacks in Israel over the weekend," said ING analysts, in a note. "If reports of Iran's involvement turn out to be true, this would provide another boost to prices, as we would expect to see the U.S. enforcing oil sanctions against Iran more strictly. That would further tighten an already tight market." Since late 2022, Washington has turned a blind eye to surging Iranian oil exports, bypassing American sanctions. The priority in Washington was an informal détente with Tehran so as to allow the world more in the advent of the OPEC cuts. As a result, Iranian oil output is estimated to have surged nearly 700,000 barrels a day this year – the second-largest source of incremental supply in 2023, behind only US shale oil. OPEC+ says cuts will continue The market also received support on Monday after Saudi Energy Minister Abdulaziz bin Salman said production cuts by the global group of oil producers known as OPEC+ will continue. The Saudis and Russians, who jointly lead the OPEC+, are withholding a daily supply of 1.3 million barrels between them, while the rest of the 23-nation alliance is contributing to a squeeze of another 2 million barrels or more. “I honestly believe that the best thing I could say is that the cohesion of OPEC+ should not be challenged,” Abdulaziz said on the sidelines of a climate conference in Riyadh. “We’ve been through the worst, I don’t think we will have to go through any terrible situation at all,” “Yes, we may be delayed with a decision on what to do, but I would not forfeit the precautionary approach, even if it goes beyond a month or two, or three or four months, or five months,” he added. IMF downgrades 2024 growth forecast That said, concerns about slowing global growth continue, especially with central banks continuing to clamp down on inflation. The International Monetary Fund cut its global growth forecast for 2024 in its latest World Economic Outlook, seeing real gross domestic product growth of 2.9%, down from 3.0% seen at its prior update in July. There are a number of Fed officials scheduled to speak later Tuesday, while traders will also be looking out for the minutes from the central bank's September gathering on Wednesday, while all-important consumer price figures are set to be published on Thursday. (Barani Krishnan contributed to this article.)
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Hamas invasion not good for the markets. I wonder how they will react once Israel turns its Ire of Hamas and onto Iran who were obviously behind the whole thing. Might get a real drop that day
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the real growth and profitability of the economy has been in the Nasdaq names primarily for the last 20 years and for obvious reasons
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