AUD News 

AUD/USD creeps higher as buyers seize back near-term control

“In overnight trading, buyers leaned on support close to the 0.6800 handle and that has helped to provide a platform to build on a move higher in trading today” reports forexlive.com. Right now, the aussie has managed to work its way past both the 200-hour MA (blue line) and the 100-hour MA (red line) against the dollar as buyers seize back near-term control.The pair is continuing to find more momentum to the upside as the aussie is building on its gains from a push higher in AUD/NZD when the pair…

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Markets News 

‘Hold your hat’ if Elizabeth Warren becomes president, billionaire investor Howard Marks says

“Donald Trump’s reelection would bolster the stock market, while an Elizabeth Warren presidency would likely tank it, billionaire investor Howard Marks told CNBC on Tuesday” writes Theron Mohamed for businessinsider.com. “The market took off after Trump’s election because he was judged to be pro-market and he has behaved pro-business,” Oaktree Capital Management’s cofounder and cochairman said.A Michael Bloomberg victory would have a similar effect, Marks said, while a win for Joe Biden, the former vice president, wouldn’t spark a strong market reaction.”Donald won and the market went up.”. “A week…

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News Oil Stocks 

Saudi Aramco starts trading, gaining 10% and exceeding $1.8 trillion

“Trading for Aramco shares began at 10:30 a.m. in Riyadh, the Saudi capital” writes The Associated Press for latimes.com. Only Saudi citizens, residents of Saudi Arabia or nationals of Gulf Arab states were permitted to buy Aramco shares as individual investors.To encourage Saudi citizens to buy and keep hold of Aramco stock, the company says it will pay a dividend of at least $75 billion in 2020.Saudi Arabia’s oil company Aramco began trading for the first time on Wednesday, gaining 10% in the first moments on the market in a…

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News Reviews Stocks 

Stocks Daily Review December 11, 2019

Stocks Daily Review for December 11, 2019 AutoZone shares jump 3.7% premarket after earnings beat estimates AutoZone Inc. shares rose 3.7% in premarket trade Tuesday, after the car parts retailer beat estimates for its fiscal first quarter. Memphis, Tenn.-based…   Macerich Shares Cross 11% Yield Mark In trading on Tuesday, shares of Macerich Co (NYSE:MAC) were yielding above the 11% mark based on its quarterly dividend (annualized to $3), with the stock changing hands as low as $26.98 on the day.   Saudi Aramco’s IPO raised a record $25.6 billion…

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Gold News Reviews 

Gold Daily Review December 11, 2019

Gold Daily Review for December 11, 2019 Gold Price Nudging Slowly Higher, Silver Outlook Supportive Ahead of Risk Gold continues to nudge higher off its recent four-month low and is attempting to break a noted technical resistance level. Silver continues to respect support after its recent sell-off.   Gold Prices May Rise as Markets Eye Fed, UK Vote, US Tariffs Gold prices may rise while bond yields fall as markets turn defensive before the FOMC rate decision, the UK general election and a planned US tariff hike.   Gold erases…

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Markets News 

The Yankees just became the most feared team in the American League after landing Gerrit Cole

“Tanaka, in Jan. 2014, was the last free agent whom the Yankees signed to a nine-figure deal” writes Dave Sheinin for washingtonpost.com. The contrast between last winter’s free agent market and this one is stark and unmistakable. The Yankees got the best pitcher on the market, perhaps the best pitcher on the planet, and are once again the most feared team in the American League.It took the largest contract for a pitcher in baseball history, but finally, at the height of a wild, fast-moving free agent market, the Yankees got…

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GBP News Reviews 

GBP Daily Review December 11, 2019

GBP Daily Review for December 11, 2019 British Pound May Fall on Industrial Data Ahead of UK Election The British Pound may suffer heading into the UK election if local industrial data inflame BoE rate cut bets ahead of the UK election.   UK election poll news: GBP/USD set to swing on every survey The latest batch of economic data from the UK provides a fairly negative view on the recent levels of activity with the main takeaway being a flat GDP   GBP/USD consolidates recent strong gains to multi-month…

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News Oil 

Saudi Aramco shares surge to hit their daily 10% limit as historic IPO begins trading

“Saudi Aramco, the world’s largest initial public offering (IPO), surged past expectations as it debuted on the country’s stock exchange on Wednesday morning” writes Natasha Turak for cnbc.com. An Aramco employee walks near an oil tank at Saudi Aramco’s Ras Tanura oil refinery and oil terminal in Saudi Arabia.The oil giant’s initial public offering has surpassed its earlier valuation of $1.7 trillion, announced when share pricing was disclosed last week at the top of market range.Shares of the state-owned oil company rose to 35.2 riyals ($9.38) in early deals in…

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Markets News 

‘Eleventh hour’ US-China trade deal could happen before tariffs kick in Sunday, analysts say

“U.S. President Donald Trump announced in October that the initial deal would be completed before the end of the year” writes Weizhen Tan for cnbc.com. The U.S. and China will probably announce some form of trade deal ahead of Sunday — when additional tariffs on Chinese goods are due to kick in — and that’s going to boost financial markets, say analysts. Markets are already anticipating that some form of an initial deal will be signed, said Eric Robertson, global head of foreign exchange, rates and credit research at Standard…

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Heads-up News 

London Trading Session Heads Up Wednesday, December 11, 2019

London opening news digest K-Pop Tragedies Are The Face of Korean Economic Angst There is still time for country’s president to turn things around in the second half of his term and give young Koreans hope for a better tomorrow.   Gold Price Outlook Hinges on Fed’s Summary of Economic Projections Developments coming out of the US may sway the near-term outlook for the price of gold as the Federal Reserve updates the Summary of Economic Projections (SEP).   Crude Oil Prices May Fall as the Fed Strikes a Cautious…

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