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National Bank of Canada’s analyst, Krishen Rangasamy asks if the benchmark revisions by the Bureau of Labor Statistics that suggested non-farm payrolls last March were 501K lower than earlier estimates, will cause a change of stance at the Federal Reserve? Key Quotes: “The U.S. labour market is strong, but less so than previously thought. We’ll
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The Dow and US stocks headed higher Thursday, despite the bond market once again flashing warning lights that a recession could be coming. Investors are eagerly awaiting Federal Reserve Chairman Jerome Powell’s speech in Jackson Hole on Friday, as they search for direction about the future of US monetary policy. The 2-year and 10-year Treasury
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A taste of things to come? PMI data out of Japan and Australia came in below forecast in August. The Australian manufacturing PMI published by both Commonwealth Bank and Markit slowed to 51.3 from 51.6 in July, but the composite reading slumped below 50 to 49.5 due to a massive under-performance by the service sector.
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Prepared by Jeff Halley, Senior Market Analyst Wall Street rallied overnight as traders ignored some very obvious discord on the path of rate cuts from the FOMC Minutes, concentrating on sparkling results from big-box retailer Target, and home improvement retailer Lowe. Both produced sparkling results following on from Walmart last week and saw their shares
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In a scheduled report to the parliament on Thursday, the Bank of Korea (BOK), the South Korean central bank, warned of economic impact from Japan’s export curbs. The report read: “Effects from Japan’s export curbs are so far limited, but if the situation worsens, the impact could be bigger than what pricing regulations such as a
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