October 2024 – Page 68 – UAG Trade Asia

Barclays Closes Autos, Discretionary Underweight; Downgrades Banks

October 2, 2024
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LONDON, Oct 2 Reuters Barclays European equity strategists have closed their underweight position in autos and discretionary stocks, due to an improving situation for consumers, and downgraded banks due to expectations for faster European Central Bank rate cuts. We close our UW on Autos as the recent round of severe profit warnings, and poor performance, […]

October 2, 2024
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Cheapesttodeliver cash bond set to be scarce Dealers wary of disruption to JGB futures Normal bond market is years away, says strategist TOKYOSINGAPORE, Oct 2 Reuters Japan39;s 9 trillion bond market is bracing for disruption as a shortage of paper caused by the central bank39;s massive buying is expected to hit the settlement of derivatives […]

October 2, 2024
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Israel vows response to Iran missile attack U.S. ADP employment report later in the day Oct 2 Reuters Gold prices eased on Wednesday as the dollar held firm, while investors looked for more U.S. economic data for further cues on upcoming rate cuts by the Federal Reserve. Spot gold was down 0.5 at 2,649.17 per […]

October 2, 2024
Finance
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Yet a longer-term, structural boost is debatable. Host Audrey Childe-Freeman, Bloomberg Intelligence’s chief G-10 FX Strategist, talks to Dr Win Thin, Brown Brothers Harriman’s global head of market strategy, about how the recent measures from China could shape the dollar outlook later this year and into 2025.

October 2, 2024
Business
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Oct 2 Reuters UK online electricals retailer AO World said on Wednesday it would buy the retailer of used smartphones and electronic products musicMagpie for about 10 million pounds 13.3 million to boost its mobile and consumer tech businesses. The 9.07 pencepershare offer represents a premium of 58 to musicMagpie stock39;s closing price on Tuesday. With highly […]

October 2, 2024
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WASHINGTON, Oct 1Reuters U.S. manufacturing held steady at weaker levels in September, but new orders improved and prices paid for inputs declined to a ninemonth low, which together with falling interest rates bode well for a rebound in activity in the coming months. The Institute for Supply Management ISM said on Tuesday its manufacturing PMI […]

October 1, 2024
Finance
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Oct 1 Reuters Sterling dipped against a firming dollar on Tuesday as survey data confirmed a slowdown in factory activity in September, but the British currency was still in sight of recent highs. The pound was down 0.4 at 1.33280 a day after closing out its strongest quarter in two years alongside a broader improvement […]

October 1, 2024
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Fed Powell signals 25bp rate cuts Goldman Sachs raises gold price forecast to 2,900 U.S. job openings data due later in the day Oct 1 Reuters Gold prices rose on Tuesday on safehaven demand due to Middle East tensions and lower U.S. bond yields, although the metal hovered below recent record highs after the Federal […]

October 1, 2024
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Oct 1 Reuters Safe haven currencies the Japanese yen and Swiss franc gained on Tuesday after news reports that Iran is preparing to imminently launch a ballistic missile attack against Israel, while U.S. jobs data showed a resilient labor market. A senior White House official said on Tuesday that the United States is actively supporting preparations to […]

October 1, 2024
Finance
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PARIS, Oct 1 Reuters France39;s manufacturing sector continued to contract in September, although the pace of decline eased somewhat from the previous month and was less steep than an initial flash estimate, a business survey showed on Tuesday. The HCOB France Manufacturing Purchasing Managers39; Index PMI, compiled by SP Global, edged up to 44.6 in […]

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Barclays Closes Autos, Discretionary Underweight; Downgrades Banks

Futures in Japan Face Hangover from BOJs BondBuying Binge

Gold Slips on Dollar Strength; US Data Eyed for Fed Rate Cut Cues

China Stimulus No FX Game Changer After Cyclical Lift: FX Moment

UKs AO World to Buy musicMagpie in 13.3 mln Deal

US Manufacturing Steady in Sept; Prices Paid Measure Lowest in 9 mths

Pound Eases Against Strong Dollar, UK Factory Activity Dips

Gold Firms on SafeHaven Demand, Lower Bond Yields

Safe Havens Gain on Reports of Imminent Iran Attack on Israel

French Factory Slump Eases Slightly in September, PMI Shows

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