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Posts Tagged ‘dollar’

Fed move leaves yen as last safe haven standing

The Japanese yen soared 2% Monday after the Federal Reserve announced that it would cut interest rates and add $700 billion to its balance sheet by buying Treasuries and mortgage-backed securities. The dollar is down 0.66% today against the DXY Spot Index, a basket of major trade currencies. (0.66% is a huge move in the […]

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Stocks fall, Treasuries climb on signs that respiratory virus in China is now spreading person to person

News that a mysterious respiratory virus in China has infected medical workers, a sign that the virus has entered a new phase wherein it spreads from person to person, rocked Asian financial markets today. The death toll has climbed to six and China today raised the number of confirmed cases to 291. The outbreak is reminiscent […]

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Saturday Night Quarterback says, For the week ahead expect…

...a short week of trading (duh!) without much going on (not even on the impeachment news front). But going into the new year, I'd advise watching the U.S. dollar. With optimism rising that the U.S. and China will at least reach a trade truce and that global trade will pick up in 2020, the dollar […]

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The markets say “Happy Holidays!”

This morning it doesn't matter that the Part 1 U.S.-China trade agreement isn't signed and that we don't have more than the bare, vague outlines of the deal. This morning it doesn't matter that the smashing Conservative Party victory in the United Kingdom elections left all the tough negotiations on the trading, regulatory, and financial […]

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Powell refuses chance to say the Fed is on interest rate hold through 2020

Given a chance to say that the Federal Reserve will keep its interest rate policy on hold through 2020, Fed chair Jerome Powell refused to take the bait at this morning's testimony in front of the congressional Joint Economic Committee.  “We see the current stance of monetary policy as likely to remain appropriate as long […]

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Odd day: stocks rise on bank earnings oil falls on global growth fears

Good earnings news from big U.S. banks drove U.S. stocks higher today. As of 3 p.m. New York time, the Standard & Poor's 500 was up 1.10% and the Dow Jones Industrial Average was ahead 1.03%. The NASDAQ Composite had climbed .28% and the Russell 2000 small cap index had gained 1.17%. The iShares MSCI […]

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So last Friday’s “agreement” on U.S.-China trade wasn’t really an agreement

China now says it wants to hold more talks this month to hammer out the details of the U.S.-China mini-deal announced by President Donald Trump on Friday before Chinese President  Xi Jinping will sign it, both Bloomberg and the Washington Post are reporting today. China said it may send a delegation led by Vice Premier Liu […]

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Not surprisingly U.S.-China trade war rhetoric heats up ahead of renewal of talks

Today the Trump administration put eight of China's technology giants on a blacklist over alleged human rights violations against Muslim minorities. And China signaled that it would retaliate over the blacklist. Foreign ministry spokesman Geng Shuang told reporters “Stay tuned.” The companies on the blacklist include two video surveillance companies-- Hangzhou Hikvision Digital Technology and Zhejiang Dahua […]

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Stocks slide, bonds rally on pessimism of a thousand cuts

Stocks were down this morning with the Standard & Poor's 500 falling 1.01% as of 1 p.m. New York time and bonds were up with Treasury prices climbing to send the yield on the 10-year Treasury down 8 basis points to 1.64%. The move down wasn't the result of a single big negative headline but […]

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People’s Bank adds $126 billion in liquidity to Chinese economy

With China's economy expected to slow further in September after poor results in July and August, the People's Bank of China cut the amount of cash that banks must hold as reserves to the lowest level since 2007.  The required reserve ratio for all banks will be lowered by 0.5 percentage points as of September […]

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