Canadian Dollar Gains for Second Day as Wall Street Rallies

Canadian Dollar strengthened against its U.S. counterpart on Thursday for a second consecutive day, buoyed by a rally in equity markets and the Bank of Canada’s comments on the limit to interest rate divergence between Canada and the United States. This positive momentum for the loonie comes amid broader market optimism following the Federal Reserve’s…

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Stocks and Yen shares were firmer on Friday ahead of the key U.S. non-farm payrolls numbers, with reassurance from the Federal Reserve that the next move in interest rates would likely be down. The yen’s recovery from 34-year lows was a major focus in Asia, following a tumultuous week of suspected intervention by Japanese authorities.…

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SVB Financial Group, the parent company of the collapsed Silicon Valley Bank, announced on Thursday that it has reached an agreement to sell its venture capital business, SVB Capital, to an entity affiliated with Pinegrove Capital Partners. The sale represents a significant step in SVB Financial’s ongoing bankruptcy proceedings and restructuring efforts, as it seeks…

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Franc is Best gained momentum in European trade on Thursday, extending its upward trajectory for the second consecutive day. The Franc’s rally came as it rebounded against the dollar, moving away from seven-month lows, making it the best-performing major currency following the release of Swiss inflation data. This article explores the factors driving the Franc’s…

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Wall Street Climbs experienced a positive day on Thursday as US stock indices rose, driven by important data releases and investor reaction to the Federal Reserve’s policy decisions. The market’s positive momentum comes as investors assess the Fed’s latest policy statement and comments from Fed Chair Jerome Powell, while also processing key economic data. Unemployment…

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Oil Prices Try experienced a modest rebound on Thursday, breaking a four-session losing streak and bouncing back from seven-week lows. This recovery is largely attributed to short-covering and improving market sentiment, but concerns about oversupply in the US continue to limit gains. Seven-Week Low and Recovery Both US crude and Brent crude hit seven-week lows…

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Dollar Near edged toward its highest level this year against a basket of major currencies on Wednesday, as investors awaited the Federal Reserve’s policy decision. The move came amid thin trading with many European and Asian markets closed for public holidays. The dollar index, which measures the greenback’s performance against six major currencies, rose over…

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JPMorgan Chase, one of the world’s largest financial institutionshas announced changes in its sales department, expanding the roles of several key executives. The bank revealed these changes in an internal memo, a copy of which was obtained by Reuters on Tuesday. Key Changes in Leadership The memo outlines significant shifts in the bank’s sales leadershipwith…

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Wells Fargo Investors shareholders have given the green light to the bank’s executive compensation plans, with a majority vote approving CEO Charlie Scharf’s 2023 compensation package. The approval comes amid ongoing efforts to strengthen the bank’s risk and control infrastructure following a major scandal in 2016 that continues to impact the institution’s reputation and regulatory…

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Dollar Reaches its upward trajectory in European trade on Wednesday, reaching a two-week high against a basket of major rivals. This surge in the greenback was driven by rising U.S. 10-year Treasury yields, which further boosted demand for the dollar. Investors are eagerly awaiting a slew of critical U.S. economic data and the results of…

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