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Dollar edges lower before Fed statement

The dollar edged lower on Wednesday, as investors waited to see whether the Federal Reserve would signal it may raise interest rates again later this year even as inflation has remained below its 2 percent goal. The U.S. central bank is expected to release its latest policy statement at 2 p.m. (1800 GMT) after a two-day meeting where investors expected policymakers would decide to embark on a reduction of the Fed’s $4.5 trillion balance sheet in October. Fed officials for weeks have signalled a move to shrink the U.S. central ...

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MARKETS SNAPSHOT FOR 20/09/17

NASDAQ-Adv: 1,663 Dec: 1,291 NYSE-Adv: 1,622 Dec: 1,304 (Source: Nasdaq)

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Seasonal Trends May Favor Bonds Over Stocks for the Rest of September

History fans take note. Seasonal trends for the second half of September have been decidedly negative for the S&P 500 Index and positive for Treasury bonds. Yields on benchmark 10-year notes have declined about 18 basis points in the last two weeks of the month on average since 2009, according to Tom di Galoma, managing director of government trading and strategy at Seaport Global Holdings. The pattern could even continue as the Federal Reserve begins to unwind its massive bond holdings, he said. “You’ve had a somewhat consistent move in ...

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Stocks notch up new high but it’s all about the Fed

World stocks eked out a new record high on Wednesday and the dollar dipped against its major rivals with the focus on a U.S. Federal Reserve policy meeting that may give clues as to whether it will raise interest rates for a third time this year. European shares opened lower after a slight rise on Asian bourses was enough to push MSCI’s World index <.MIWD00000PUS>, which tracks stocks in 46 countries, fractionally higher to a new record. But with the Fed due to unveil its policy decision and economic forecasts ...

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Dollar falls as traders await possible move on Fed bond purchases

The dollar weakened against a basket of currencies on Tuesday in advance of a Federal Reserve meeting where policymakers are expected to decide on shrinking the central bank’s $4.2 trillion in bond holdings. The Fed’s possible move to roll back stimulus further has not stemmed the greenback’s weakness this year as other major central banks are considering steps either to slow their own bond purchases or raise interest rates. Analysts widely anticipate Fed policymakers to announce a lowering of monthly bond purchases, starting in October, when their two-day meeting ends ...

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MARKETS SNAPSHOT FOR 19/09/17

NASDAQ-Adv: 1,496 Dec: 1,455 NYSE-Adv: 1,550 Dec: 1,387 (Source: Nasdaq)

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World-Beating Emerging Markets Surge Emboldens Valuation Critics

One of the world’s best trades this year, going long on emerging-market equities, is even troubling the bulls after handing investors twice the return from developed-country stocks. The MSCI Emerging Market Index’s almost 30 percent surge in 2017 has left valuations at the most expensive level since the start of 2010, a signal to JPMorgan Chase & Co. and Deutsche Bank AG that short-term weakness may be imminent despite remaining firmly in the bullish camp more longer term. Improving earnings growth and reform in economies from Brazil to India remain ...

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Global Shares Decline, Investors Play It Safe Ahead of the Fed

Global stocks were broadly lower Tuesday, with investors expected to avoid taking major positions ahead of the Federal Reserve policy meeting later this week. The Stoxx Europe 600 edged down 0.2% in early morning trade, led by losses in the food and beverage sector. Futures pointed to a flat opening for the S&P 500 and the Dow Jones Industrial Average, after both closed at a record Monday. The equities bull run paused Tuesday as investors turned their attention to the Fed’s interest rate decision. The central bank is likely to ...

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Shares tap brakes, dollar reverses as Fed nears

Record-high world stocks braked and the dollar dipped on Tuesday ahead of a two-day meeting of the Federal Reserve after which it is expected to detail plans to shrink its balance sheet and gradually keep lifting U.S. interest rates. Tokyo’s Nikkei <.N225> had surged 2 percent overnight having been closed on Monday when Wall Street and MSCI’s 47-country All World index <.MIWD00000PUS> hit fresh all-time peaks, but elsewhere bourses seemed ready for a breather. London <.FTSE>, Frankfurt <.GDAXI> and Paris <.FCHI> fluttered between flat to slightly lower after days of ...

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Asian currencies listless, brace for Fed meeting

Most emerging Asian currencies traded narrowly on Tuesday as uncertainties surrounding the outcome of a U.S. Federal Reserve meeting kept traders from making big bets. At a two-day meeting beginning later on Tuesday, the U.S. central bank is expected to take another step toward policy normalisation with plans to trim its massive portfolio. It is seen holding interest rates steady after raising twice this year. Investors are now prepping up for potentially more hawkish statements from the Federal Reserve, after the Bank of England’s unexpected talk last week of a possible rate hike ...

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Futures to be opened up

CSRC vice-chairman says move is part of country’s larger economic goals China will open up its futures markets to the world, particularly foreign investors, to help the markets align with the national strategies for boosting the real economy, said a senior official from the country’s top capital market regulator. The government will support a futures and derivatives market that is compatible with the country’s economic and social development goals as well as the need for economic risk management, said Fang Xinghai, vice-chairman of the China Securities Regulatory Commission. He made ...

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Sterling slides as BoE’s Carney signals limited, gradual rate hikes

Sterling slid nearly 1 percent on Monday, retreating from its highest level since the Brexit vote, after Bank of England Governor Mark Carney said any coming interest rate rises would be limited and gradual. Speaking at the International Monetary Fund in Washington, Carney reiterated the central bank’s message last week that record low interest rates could rise in coming months, but added that “any prospective increases in Bank Rate would be expected to be at a gradual pace and to a limited extent”. His comments pulled the pound, already lower ...

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MARKETS SNAPSHOT FOR 18/09/17

NASDAQ-Adv: 1,804 Dec: 1,162 NYSE-Adv: 1,683 Dec: 1,276 (Source: Nasdaq)

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World stocks reach new peak as Fed-focused week begins

World stocks hit another record high on Monday and the dollar reached an eight-week peak against the yen on expectations the U.S. Federal Reserve will unveil plans this week to trim its bloated balance sheet. With no new actions by North Korea over the weekend, investors pushed Europe’s main share index  to a six-week high. MSCI’s broadest index of Asia-Pacific shares outside Japan had earlier risen to heights not visited since late 2007. That nudged MSCI’s index of world stocks to a new all-time high  while futures prices pointed to ...

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Asia-Pacific markets rally; Kospi posts biggest gain in 4 months

Stock markets across Asia rallied on Monday following fresh record closes on Wall Street, with South Korea’s benchmark index leading gains, for now brushing aside concerns of more tension in the Korean Peninsula. After a dip in risk appetite toward the end of last week, markets regained some upward momentum as global investors sold their safe haven hedges and returned to riskier assets. Korea’s Kospi South Korea’s Kospi SEU, +1.35%  ended up 1.4%, logging its biggest gain since May, propelled by a 4.1% jump in index heavyweight Samsung Electronics 005930, +4.13% On Friday, the Dow ...

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