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Global stocks creep higher on U.S. stimulus hopes, yuan sinks

SINGAPORE (Reuters) - Asian stock markets began the week with cautious gains on Monday, as investors clung to hopes for U.S. stimulus spending, while the dollar firmed after a Chinese central bank policy tweak unwound some of the yuan's steep gains.The People's Bank of China has scrapped a requireme

Top Glove Mulls Raising $1 Billion in Hong Kong Listing

(Bloomberg) -- Top Glove Corp., the world’s biggest rubber glove maker, is considering raising more than $1 billion from a listing in Hong Kong, according to people with knowledge of the matter.Top Glove, whose shares are traded in Kuala Lumpur and Singapore, is working with advisers on the potentia

FOREX-Dollar ticks up on stalled stimulus talk; yuan falls after PBOC move

TOKYO, Oct 12 (Reuters) - The dollar inched up in early Monday trade as riskier currencies slipped after negotiation on a U.S. stimulus package ran into resistance and as the yuan dropped after China's central bank took a measure seen as aimed at curbing its strength.The euro slipped 0.15% to $1.181

Reopening Economy Lends Fresh Impetus to Indian Shares

(Bloomberg) -- Stock investors are taking heart from India’s efforts to re-open its economy, even as the nation continues on a trajectory to overtake the U.S. as the country with the most coronavirus cases.The S&P BSE Sensex’s has rallied almost 11% since hitting a more than two-month low on Sep

The Case for Buying Asia Stocks Over U.S. Ones

(Bloomberg) -- An expected surge in election-related volatility in the U.S. stock market is paving the way for Asian shares to make a run at besting their American peers.Since hitting an all-time low relative to the S&P 500 on Sept. 2, the MSCI Asia Pacific Index has outperformed the U.S. benchm

Oil Falls Toward $40 With Supply Constraints Beginning to Ease

(Bloomberg) -- Oil dropped for a second day as operations in the U.S. Gulf of Mexico started to resume following Hurricane Delta and Libya took a major step toward reopening its biggest field.Futures in New York fell toward $40 a barrel after closing down 1.4% Friday as oil workers in Norway called

EUR/USD Bearish ABC Pattern within Bullish Wave B

The EUR/USD is building a correction with lower highs and higher lows. Price action seems to be in a bearish ABC pattern within a bullish wave B. What are the key levels to consider?Price Charts and Technical AnalysisThe EUR/USD support (blue line) and resistance (red line) levels are key

A Quiet Economic Calendar Leaves Geopolitics and COVID-19 in Focus

It’s was a relatively busy start to the day on the economic calendar this morning. The Japanese Yen and Aussie Dollar were in action, with economic data from China also in focus.Away from the economic calendar, chatter from the U.S also provided direction in the early part of the Asian ses

European Equities: U.S Politics and Stimulus Talk to Test the Majors

The MajorsIt was a bullish day for the European majors on Thursday. The DAX30 rose by 0.88% to lead the way, with the CAC40 and EuroStoxx600 gaining 0.61% and 0.78% respectively.Economic data took a back seat on the day, with the markets responding to Trump chatter once more. Following Tuesday’s ann

ETH/USD Bearish Pressure Prepares for Push Lower to Fib Targets

Price Charts and Technical Analysis The ETH/USD is unable to break back above the 21 ema zone, which is a bad sign for the bulls. The previous uptrend was strong but the bears are likely to push price action below the long-term support trend line (purple). A breakout below that line and the pre

Gold Price Futures (GC) Technical Analysis – Strengthens Over $1889.70, Weakens Under $1877.10

Gold futures are inching higher early Thursday as renewed hopes for more U.S. stimulus kept the bullion afloat, with investors eyeing the weekly jobless claims data to further gauge the health of the world’s largest economy.Prices fell on Wednesday despite President Trump walking back orde

U.S. Dollar Index (DX) Futures Technical Analysis – New Resistance Cluster Formed at 93.975 – 94.090

The safe-haven U.S. Dollar is trading lower against a basket of major currencies on Thursday, after the revival of hopes for a partial fiscal stimulus package improved investor sentiment and appetite for riskier currencies.Traders are reacting to a flurry of late-Tuesday tweets from President Donald

GBP/USD Daily Forecast – Test Of Resistance At The 50 EMA

British Pound Tries To Gain More Upside Momentum Against U.S. DollarGBP/USD is trying to get above the nearest resistance level at the 50 EMA at 1.2930 as the U.S. dollar is under some pressure against a broad basket of currencies.Currently, the U.S. Dollar Index is heading towards 93.50. In ca

EUR/USD Mid-Session Technical Analysis for October 7, 2020

The Euro is trading higher on Wednesday after President Trump clarified his decision from Tuesday to end stimulus negotiations with the Democrats to focus on the confirmation of his Supreme Court nominee, Amy Coney Barrett. That news triggered a plunge in higher risk assets, while making the U.S. Do

Daily Gold News: Gold Going Sideways Despite Fed Talks, Tweets

The gold futures contract lost 0.59% on Tuesday, as it extended its short-term consolidation. Yesterday volatility has increased following a tweet from the U.S. President ending stimulus talks. But overall, the market continues going sideways. Recently gold was retracing a rally from

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