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Mexican Peso weakens as USD/MXN climbs on judiciary reform concerns after new Congress convenes. Mexico’s Business Confidence improves slightly in August, while Manufacturing PMI hits a two-year low, indicating sectoral challenges. S&P Global cites weak sales, competition from China, and highway insecurity as key issues for Mexican manufacturers. The Mexican Peso begins September on a
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In relatively quiet market environment, Japanese Yen is coming under increasing pressure, with notable selloff driven by rising benchmark yields in the US and Europe. With major European stock indexes largely flat and the US and Canadian markets closed for a holiday, the Yen’s decline has gained momentum. Several Yen crosses have broken near term
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ISM manufacturing US markets are closed on Monday for Labor Day but will come to life on Tuesday including some notable economic data. The highlight is the 10 am ET release of the August ISM manufacturing index. In July, the survey disappointed with a fall to 46.8 compared to 48.8 expected. This month, economists expect
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Gold prices were flat on Monday, after falling 1% in the previous session, with U.S. inflation data suggested that the Federal Reserve was more likely to go for a smaller-than-expected interest rate cut this month. FUNDAMENTALS * Spot gold was flat at $2,502.89 per ounce, as of 0015 GMT after hitting a session low of
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In this article DG DLTR Follow your favorite stocksCREATE FREE ACCOUNT A sign hangs above a Dollar General store in Chicago on Aug. 31, 2023. Scott Olson | Getty Images Dollar General shares tumbled Thursday after the discount retailer slashed its sales and profit guidance for the full year, suggesting its lower-income customers are struggling
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In this article BBY Follow your favorite stocksCREATE FREE ACCOUNT People walk into a Best Buy store in a Brooklyn mall on August 29, 2023 in New York City. Spencer Platt | Getty Images Best Buy raised its fiscal-year profit guidance Thursday after exceeding earnings and revenue expectations for the most recent quarter. The retailer
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USD recovered after signs of sticky inflation on July’s PCE. Recovery momentum in AUD throughout August has been supported mainly by the weak USD and improved conditions of risk-related assets. RBA’s hawkish stance continues to benefit the Aussie. The AUD/USD declined by 0.70% to 0.6750 in Friday’s session as the USD strengthened in response to
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UPCOMING EVENTS: Monday: US/Canada Holiday, China Caixin Manufacturing PMI, Swiss Manufacturing PMI. Tuesday: Swiss CPI, Swiss Q2 GDP, Canada Manufacturing PMI, US ISM Manufacturing PMI. Wednesday: Australia Q2 GDP, China Caixin Services PMI, Eurozone PPI, BoC Policy Decision, US Job Openings, Fed Beige Book. Thursday: Japan Average Cash Earnings, Swiss Unemployment Rate, Eurozone Retail Sales,
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