Omicron Data, Chipmakers Expand, China Speculation – What\’s Moving Markets

© Reuters By Geoffrey Smith  Investing.com — Markets are marking time ahead of a rash of central bank meetings later in the week, edging higher as news dribbling out of the health sector continues to suggest that the new dominant strain of Covid-19 isn\’t half as bad as the last one. Energy prices in Europe push toward record highs again as Russia shows no signs of pulling its tanks away from the Ukrainian border – or of opening the gas taps on its new pipeline to Germany. And Turkey\’s currency…

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Turkish Lira Extends Selloff Past 14 Per Dollar to Record Low

© Bloomberg. An employee hands 100 Turkish lira banknotes to a customer on the counter inside a foreign currency exchange bureau in the Beyoglu district of of Istanbul, Turkey, on Tuesday, Aug. 11, 2020. A day after the latest call from President Recep Tayyip Erdogan for lower borrowing costs to boost economic growth, the central bank reduced the cheaper liquidity it provides to primary dealers as part of its open market operations to zero from Aug. 12, according to a statement on Tuesday. Photographer: Kerem Uzel/Bloomberg (Bloomberg) — Turkey’s lira…

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Former FX official says China should avoid excess yuan appreciation

© Reuters. A China yuan note is seen in this illustration photo May 31, 2017. REUTERS/Thomas White/Illustration SHANGHAI (Reuters) -Avoiding excess yuan appreciation should be one of China\’s priorities in managing market expectations and regulations, a former senior official at the country\’s foreign exchange regulator has said. A challenge for exchange rate fluctuations or flexibility is that the currency could overshoot, deviating from its economic fundamentals, said Guan Tao, global chief economist at BOC International and the former head of the Balance of Payments department of the State Administration of…

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Dollar Edges Higher; Fed Meeting the Highlight of Busy Week

© Reuters. By Peter Nurse Investing.com – The dollar inched higher in early European trade Monday at the start of a week that includes a number of central bank meetings, including the Federal Reserve, while concerns over the Omicron Covid variant remain. At 2:55 AM ET (0755 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, rose 0.2% to 96.243. USD/JPY rose 0.1% to 113.52, EUR/USD slipped 0.2% to 1.1286, and the risk-sensitive AUD/USD slipped 0.2% to 0.7154. GBP/USD dropped 0.3% to 1.3230 after…

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Turkish lira plummets to new low, dragging central bank to the rescue

© Reuters. FILE PHOTO: A merchant counts Turkish lira banknotes at the Grand Bazaar in Istanbul, Turkey, March 29, 2019. REUTERS/Murad Sezer/File Photo By Ece Toksabay and Jonathan Spicer ISTANBUL (Reuters) -Turkey\’s lira crashed as much as 7% to a record near 15 to the dollar on Monday before whip-sawing back after the central bank intervened, gripped by worries over President Tayyip Erdogan\’s risky new economic policy and prospects of another rate cut. The central bank said it entered the market to sell dollars for the fourth time in two…

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Dollar near one-week high amid hawkish Fed hopes, Omicron fears

© Reuters. FILE PHOTO: A money changer counts U.S. dollar banknotes at a currency exchange office in Ankara, Turkey November 11, 2021. REUTERS/Cagla Gurdogan/File Photo By Kevin Buckland TOKYO (Reuters) – The dollar traded near a one-week high versus a basket of major rivals on Tuesday, supported by expectations of a hawkish Federal Reserve meeting this week and haven demand amid continued uncertainty about the Omicron coronavirus variant. The dollar index, which measure the currency against six peers, was little changed at 96.416, after touching 96.450 on Monday for the…

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S&P 500 Eases From Record as Omicron-Fueled Jitters Dent Cyclicals

© Reuters. By Yasin Ebrahim Investing.com – The S&P 500 retreated Monday, led by a selloff in cyclical stocks including energy amid fresh worries about the economic impact of the Omicron Covid-19 variant ahead of the Federal Reserve\’s monetary policy update later this week.   The S&P 500 fell 0.91% to 4,668.97 after closing at a record closing high of 4,712.02 on Friday. The Dow Jones Industrial Average slumped 0.89% , or 320 points, the Nasdaq slipped 1.39%. Energy fell more than 2% weighed down by falling oil prices amid fresh…

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Wall Street ends down; investors eye Omicron and Fed meeting

© Reuters. FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., December 3, 2021. REUTERS/Brendan McDermid By Shreyashi Sanyal and Noel Randewich (Reuters) – Wall Street ended lower on Monday, with shares of Carnival (NYSE:CUK) Corp and several airlines tumbling as investors worried about the Omicron coronavirus variant ahead of a Federal Reserve meeting later this week. Travel-related stocks fell, with the fast-spreading variant accounting for around 40% of COVID-19 infections in London and at least one death in the…

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Amazon driver died in bathroom sheltering from tornado with colleagues

4/4 © Reuters. The site of a roof collapse at an Amazon.com distribution centre a day after a series of tornadoes dealt a blow to several U.S. states, in Edwardsville, Illinois, U.S. December 11, 2021. REUTERS/Drone Base 2/4 By Richa Naidu EDWARDSVILLE, Ill. (Reuters) -Amazon cargo driver Austin J. McEwen, 26, was an only child who loved to listen to rapper Mac Miller and hunt with his friends. He died trying to shelter from a powerful tornado https://www.reuters.com/world/us/injuries-reported-after-roof-collapse-amazon-warehouse-illinois-ap-2021-12-11 in the bathroom at an Amazon.com (NASDAQ:AMZN) warehouse on Friday night, according…

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Dollar Down Ahead of U.S. Inflation Data, PBOC Raises FX Reserve Requirements

© Reuters. By Gina Lee Investing.com – The dollar was down on Friday morning in Asia ahead of U.S. inflation data that could provide clues as to when the Federal Reserve will hike interest rates. The Chinese yuan also recorded its sharpest drop in months after authorities moved to halt its recent rally. The U.S. Dollar Index that tracks the greenback against a basket of other currencies inched down 0.07% to 96.183 by 10:14 PM ET (3:14 AM GMT). The USD/CNY pair edged down 0.15% to 6.3678 and the USD/JPY…

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