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The Indonesian Finance Minister Sri Mulyani Indrawati said late-Wednesday that the government plans to cut several different taxes to boost investment and accelerate economic growth amid dwindling growth outlook. Southeast Asia’s largest economy in the first quarter expanded 5.07% from a year earlier, missing market expectations. Indrawati said, “Previously announced plans for a “super deductible
AUD/USD could struggle to hold on to post FOMC gains on RBA Lowe. FOMC dovish tone and trade talk optimism supporting upside in AUD/USD. AUD/USD is steady in early Asia, consolidated between a tight range having moved up from the 0.6832 lows of earlier in the week, boosted on trade talk optimism and a dovish Federal
A quick look around the market Coming Up! Title text for next article Technical Analysis Before statement and now Spot gold $1345.62 versus $1350.36 WTI crude oil futures $53.58 vs $53.91 currently S&P index 2917.46 versus 2923.13 currently NASDAQ 7945.85 versus 7960.70 currently two-year 1.872% versus 1.7882% currently 10 year 2.075% versus 2.035% currently 30
Weekly crude oil inventories and production: Oil -3106K vs -1250K expected Gasoline -1692K vs +477K expected Distillates -551K vs +377K exp Refinery utilization +0.7% vs +0.34% exp Production 12.2mbpd vs 12.3 mbpd prior API numbers released late yesterday: Crude -812K Cushing +519K Gasoline +1458K Distillates -50K WTI has jumped into positive territory at $54.10 from
Fed Meeting Preview Talking Points: The June Fed meeting will conclude today at 18:00 GMT with Fed Chair Jerome Powell’s press conference starting at 18:30 GMT. At the May Fed meeting, policy officials made clear that their hawkish bias was quickly dissipating, suggesting that no interest rate changes would be made “for some time.” Retail
What’s “the secret” behind successful traders? The Forex market is the largest trading network in the world with $1.8 trillion dollars being exchanged every day. There are dozens of different currencies traded but the big players to focus on are all traded with the US dollar and include:  EUR (Euro), GBP (British pound), JPY (Japanese
According to the latest Thomson Reuters/INSEAD survey, the business morale among the Asian firms fell to its lowest since the 2008-09 financial crisis in the three months to June, in the face of the negative implications of the escalating US-China trade war. Key Findings: “The Thomson Reuters/INSEAD Asian Business Sentiment Index tracking companies’ six-month outlook
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Aussie buyers cheered trade positive news but remain on the sideline ahead of the key FOMC. Global risk sentiment continues to linger due to Draghi’s speech at Sintra. Having been buoyed by the upbeat risk sentiment, mainly due to the trade positive news, the AUD/USD pair stabilizes near 0.6875 during the early Asian session on
Stocks soar The S&P 500 is near an all-time record. The index is up 36 points today to 2925, the highest since May 6. Two factors have sparked the rally: 1) Draghi saying the ECB will implement additional stimulus unless the situation on growth and inflation improves 2) Trump saying an extended meeting with Xi