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Global Stocks Slip as Trade Talks Falter

Global stocks retreated amid fading optimism around U.S.-China trade negotiations as the two countries signaled an agreement remained out of reach. On Friday, Chinese negotiators abruptly canceled a trip to farms in Montana and elsewhere. President Trump also rejected suggestions that the U.S. would accept a partial trade agreement with China, saying his administration is “looking for a complete deal.” “I think this is the case of, well, we had the promise of more talks but where do we go from here?,” said Chris Beauchamp, chief market analyst at online ...

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Euro skids as German economic gloom deepens

The euro fell on Monday after German flash purchasing managers’ index survey data for September was weaker than expected, raising more fears about the health of the economy. The single currency, trading around $1.10 before the numbers were released, dropped 0.4% to as weak as $1.0972 , its weakest since Sept. 12. The survey showed that the German private sector activity shrank for the first time in 6-1/2 years in September as a manufacturing recession deepened unexpectedly and growth in the service sector lost momentum. The dollar was boosted by ...

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Strategists Play Spoilsport Just as Europe Stock Rally Heats Up

European stocks have been on a tear over the past month, signaling investor optimism returning to the market. Not so fast, say strategists. They predict losses of more than 4% in both the Stoxx Europe 600 Index and the Euro Stoxx 50 Index of the region’s biggest companies by the end of the year, according to the average response in a Bloomberg poll. European equities have rebounded strongly since mid-August as trade war tensions eased and the region’s central bank boosted stimulus, with the Stoxx 600 within reach of a ...

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MARKETS SNAPSHOT FOR 20/09/19

NASDAQ-Adv: 1555 Dec: 1605 NYSE-Adv: 1895 Dec: 1870 (Source: Nasdaq)

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Dollar posts weekly gain on hopes for trade, Fed on hold

The U.S. dollar rose against a basket of currencies on Friday, for its first weekly increase in three, prompted by hopes of progress in U.S.-China trade talks and that the Federal Reserve would not lower rates aggressively. Sterling retreated from a two-month high versus the greenback after the Irish foreign minister said that London and the European Union were not yet close to a Brexit deal. U.S. and Chinese deputy trade negotiators are set to continue talks that began on Thursday in an effort to lay the groundwork for high-level ...

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Global Stocks Rise at the End of a Bumpy Week

Global stocks rose at the end of a week that saw an interest-rate cut from the Federal Reserve and dramatic swings in crude prices after an attack on production facilities in Saudi Arabia. Futures on the S&P 500 and Dow Jones Industrial Average both rose 0.2%. The Stoxx Europe 600 gained 0.4% in late-morning trade. In Asia, the Shanghai Composite and Japan’s Nikkei both rose 0.2%. Indian equities surged after New Delhi unveiled a series of measures to boost growth, including a large cut in the corporate tax rate for ...

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Dollar snaps two-week losing streak on global growth concerns

The U.S. dollar erased earlier losses and rose on Friday after investors cut back short positions in the greenback as concerns about slower global growth prospects and political tensions boosted its safe-haven appeal. The dollar weakened after the Federal Reserve cut interest rates by a quarter-point on Wednesday and the currency’s decline was compounded by a spike in overnight U.S. repo rates that cut into demand for dollars. But market watchers say the slowdown in global growth and increased tensions following the weekend attacks on Saudi oil facilities were making ...

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BAML – Equity funds suck in £15 billion amid cautious return of risk appetite

Investors pumping $19.2 billion (£15.1 billion) into equity funds in a second week of healthy inflows pointed to a nascent risk appetite, though inflows into high-yield and emerging market debt showed an unabated hunt for yield, said Bank of America Merrill Lynch. Equity fund inflows over the past two weeks now amounted to $34 billion versus redemptions of $10 billion from government bond funds, which signalled “risk-on”, BAML wrote in its weekly note published on Friday and citing EPFR flow data. U.S. equity funds attracted $20.7 billion in their 8th ...

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Shares soothed by stimulus, oil heads higher

World shares rose on Friday as stimulus measures by major central banks eased worries about growth, especially in Asian markets, while oil headed for its best week since January. China cut a key lending rate for the second straight month on Friday, becoming the third major central bank to cut interest rates in recent days, after the European Central Bank and the U.S. Federal Reserve. Equity markets have welcomed the central bank moves, although most of the cuts was already priced in and worries about a possible global slowdown still ...

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Dollar set for third week of losses in a big week for central banks

The dollar edged lower on Friday and was headed for a third straight week of losses as expectations of a breakthrough in trade tensions between Washington and Beijing fuelled a revival in risk appetite. The losses came after the Federal Reserve cut interest rats by a quarter-point rate, compounded by a spike in overnight U.S. repo rates this week, which cut into demand for dollars. Other major central banks, including the Bank of England, the Bank of Japan and the Swiss National Bank, left rates unchanged this week, disappointing some ...

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MARKETS SNAPSHOT FOR 19/09/19

NASDAQ-Adv: 1376 Dec: 1736 NYSE-Adv: 2069 Dec: 1734 (Source: Nasdaq)

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Dollar falls as some central banks outside U.S. hold rates steady

The dollar fell against most major currencies on Thursday as some central banks refrained from cutting interest rates after the Federal Reserve’s second rate decrease this year, boosting the appeal of their currencies versus the greenback. Sterling rallied in late U.S. trading following comments from European Commission President Jean-Claude Juncker which raised hopes for a deal for Britain to leave the European Union. The Swiss National Bank, the Bank of England and the Bank of Japan all kept their policies on hold on Thursday. Norges Bank increased its key policy ...

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Shares inch higher after Fed cut, BOJ keeps powder dry

A positive start in Europe nudged the main world share indexes and bond yields higher on Thursday, after the U.S. Federal Reserve’s second interest rate cut of the year while Japan and others kept their limited remaining powder dry. The effects of the trade war has seen central banks around the world swing back into support mode this year, but the Fed’s central message on Wednesday was that it wasn’t expecting a major capitulation of the economy. The Bank of Japan and Switzerland’s central bank then both kept their deeply ...

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Dollar rises as Fed cuts rates, but easing outlook uncertain

The dollar hit a seven-week high against the yen and a three-month peak versus the Swiss franc on Wednesday after the Federal Reserve cut interest rates by a quarter of a percentage point, as expected, but gave an uncertain outlook on future easing and sounded less bleak about the U.S. economy. The dollar rose in seven of the last eight sessions against the yen, while touching the day’s peaks versus the euro. In cutting interest rates by 25 basis points for the second time this year, the Fed gave a ...

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MARKETS SNAPSHOT FOR 18/09/19

NASDAQ-Adv: 1237 Dec: 1882 NYSE-Adv: 1724 Dec: 2091 (Source: Nasdaq)

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