Market Overview
The Bank of Canada lowered the rate for the second time. The People's Bank of China unexpectedly cut its one-year lending rate
2024.07.25
As some of the markets expected, the Bank of Canada (BoC) cut its key interest rate by 25 bps to 4.5% at its July 2024 meeting, extending the 25 bps rate cut from the June meeting.
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Oil falls amid possible truce between Israel and Hamas. Indices remain under pressure
2024.07.24
Tesla's (TSLA) second-quarter net income fell 45% from a year ago as sales of the company's electric vehicles declined globally despite price cuts and low-interest financing.
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AUD is under pressure from the PBoC cut rates. Singapore is seeing a decline in inflation
2024.07.23
Singapore's annual inflation rate fell to 2.4% in June 2024 from 3.1% in May, below market estimates of 2.7% and pointing to the lowest rate since August 2021.
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The People's Bank of China unexpectedly cut interest rates. Biden quits from the presidential race
2024.07.22
The offshore yuan hit its lowest level in more than a week as traders reacted to the latest decision by the People's Bank of China (PBoC).
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Week's main events (July 22 – July 26)
2024.07.22
This week's focus is on the PCE inflation data and the BoC meeting
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Natural gas prices bounced off the lows. Malaysia's GDP is well ahead of estimates
2024.07.19
The US natural gas prices (XNGUSD) rose more than 3.5% to above $2.1 per mmbbl, rebounding from a 10-week low after the EIA reported a smaller-than-expected injection into storage.
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Technology companies fall on fears of new sanctions on China
2024.07.18
Bloomberg reported Wednesday that the Biden administration has told allies it is considering the toughest trade restrictions against chipmakers if they continue to give China access to advanced semico...
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US indices hit all-time highs. Inflation in New Zealand is slowing down
2024.07.17
Bank of America (BAC) closed higher by more than 5% after reporting a second-quarter net interest income of $13.86 billion, better than the consensus of $13.81 billion, and estimating fourth-quarter n...
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The Australian dollar remains in positive territory against other currencies. The Bank of Canada survey disappointed investors
2024.07.16
The Bank of Canada's Business Outlook Survey emphasized continued pessimism among Canadian companies, attributing it to weak sales expectations and high equipment costs holding back investment.
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There was an assassination attempt on Donald Trump. Economic data from China was below forecasts
2024.07.15
Bank earnings results on Friday were mostly bearish for stocks, with Wells Fargo (WFC) closing down more than 6% after reporting second-quarter net interest income below consensus.
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