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3 Reasons Why U.S. Dollar Could Fall Further Next Week Kathy Lien  | Jul 24, 2020 05:50PM ET It has been a rough week for the U.S. dollar. The  greenback  traded lower against all of the major currencies, falling to multi-month and, in some cases, multi-year lows in the process.  USD/JPY , which has been consolidating in a tight range for more than a week, finally broke down on Friday, dropping below 106 to its weakest level in four months. The U.S. dollar’s weakness was the most pronounced against the euro and Australian dollar –  EUR/USD  rose to its highest level since September 2018, while  AUD/USD  hit a one-year high. Chances are, investors will continue to sell U.S. dollars in the coming week for the following reasons: #1 – Extra Jobless Benefits Disappear Come Monday, more than 20 million Americans will lose the $600-a-week extra unemployment benefits that kept them afloat for the past few months. The official deadline is July 31...

Wall Street Week Ahead: Investors hedging, worry about exuberance, as U.S. risks rise Reuters  |  Jul 24, 2020 09:45PM ET   By David Randall and Megan Davies NEW YORK (Reuters) - Signs of trepidation over the lasting impact of the U.S. coronavirus pandemic are growing on Wall Street, fanned by resurgent case numbers, the prospect of a slower rebound in growth and rising political uncertainty. As a U.S. equity rally stalled this week, investors poured a net $24.5 billion into bonds, the third largest weekly inflows ever recorded, while pulling $3.8 billion out of stocks, according to BoFA Global Research. Gold drew its second largest inflows on record, while investors socked nearly $41 billion away in cash. Meanwhile, the dollar hit its lowest level in nearly two years, weighed down in part by growth-chasing investors cutting positions in U.S. assets in favor of allocations to Europe. In the bond market, yields on Treasury Inflation-Protected Securities (TIPS), which adjus...

EU countries must urgently diversify 5G suppliers, Commission says Reuters  |  Jul 24, 2020 08:40AM ET By Foo Yun Chee BRUSSELS (Reuters) - EU countries must take urgent action to diversify their 5G suppliers, the European Commission said on Friday, a move set to shrink Huawei's [HWT.UL] presence in Europe as the United States pressured the bloc to follow Britain and ban the Chinese company from 5G networks. In November last year, the European Union agreed to take a tough line on 5G suppliers to reduce cybersecurity risks to next-generation mobile networks, seen as key to boosting economic growth and competitiveness. The strategy included reducing countries' and telecoms operators' dependency on one supplier. World No. 1 telecoms equipment maker Huawei competes with Finland's Nokia (NYSE: NOK ) and Sweden's Ericsson (BS: ERICAs ). While some progress has been made, a lot of work needs to be done, the Commission said. "Progress is urgently needed to mitigate the...

Oil prices edges up on weak dollar, U.S.-China tensions weigh Oil prices edges up on weak dollar, U.S.-China tensions weigh Reuters  |  Jul 24, 2020 06:21AM ET By Shadia Nasralla and Julia Payne LONDON (Reuters) - Oil prices edged higher on Friday, supported by a weaker dollar, though tensions between the United States and China weighed. Brent crude ( LCOc1 ) was up 26 cents at $43.57 a barrel at 0944 GMT, while U.S. West Texas Intermediate (WTI) crude ( CLc1 ) was up 29 cents at $41.36. "Both crude benchmarks are roughly back where they were before this week’s upside breakout. Looking ahead, the oil market will likely settle back into a wait-and-see mode amid the increasingly uncertain environment," PVM analysts said in a note. China ordered the United States to close its consulate in the city of Chengdu on Friday, responding to a U.S. demand this week that China close its Houston consulate. The dollar slid to 22-month lows against a basket of currencies ( DXY ). A weaker do...

Top 5 Things to Know in the Market on Friday, July 24th Investing.com  |  Jul 24, 2020 06:41AM ET By Geoffrey Smith  Investing.com -- Fears for the U.S. economic recovery send a chill through markets. The dollar hits a two-year low against the euro and other currencies after weak labor market data, signs of a delay to the next stimulus package and hawkish words on China from Donald Trump. China's stock market falls heavily. The euro hits a 22-month high as the eurozone economy returns to growth. Intel (NASDAQ: INTC ) stock slumps after announcing another delay to a key project, and  Disney  is also struggling to deliver on its pipeline of money-spinning movies. Here's what you need to know in financial markets on Friday, July 24th. 1. Fears for U.S. rebound as labor market, stimulus talks stall Concerns that the U.S. economic recovery may be faltering sent a chill through global markets, hitting risk assets and supporting havens.  The yield on the  U.S...

Huawei lawyers claim Trump created 'ominous' climate for extradition of CFO Meng to U.S.: documents Reuters  |  Jul 24, 2020 01:40AM ET By Moira Warburton (Reuters) - Lawyers for Meng Wanzhou, the chief financial officer of Huawei Technologies, have applied to a Canadian court seeking stays in the proceedings for her extradition to the United States, documents released on Thursday showed. The applications are based in part on what Meng's lawyers allege was a destruction of the integrity of the judicial process by United States President Donald Trump and other senior members of the administration by their intention to use Meng "as a bargaining chip in a trade dispute." Meng was arrested in December 2018 at the Vancouver International Airport on a warrant from the United States. She is accused by U.S. authorities of bank fraud for misleading HSBC about Huawei's relationship with a company operating in Iran, putting HSBC at risk of fines and penalties for breakin...

Top 5 Things to Know in the Market on Wednesday, July 22nd Investing.com  |  Jul 22, 2020 06:31AM ET By Geoffrey Smith  Investing.com -- Tesla publishes hotly-awaited results for the second quarter, with its legions of fan-investors betting heavily that another quarterly profit will lead to its inclusion in the S&P 500. Talks over the next stimulus package in Congress are struggling due to differences of opinion between the administration and Senate Republicans, as well as between Republicans and Democrats. Gold looks set to test its all-time high from nine years ago, while silver is also breaking out. Stocks are set to open mixed and weekly U.S. inventories data are weighing on oil prices. Here’s what you need to know in financial markets on Wednesday, July 22 nd . 1. Showtime for Tesla  The moment of truth for Tesla (NASDAQ: TSLA ) is about to arrive. Or rather, the company will publish its second-quarter results after the closing bell, at a time when its ...

Top 5 Things to Know in the Market on Tuesday, July 21st Investing.com  |  Jul 21, 2020 06:38AM ET By Geoffrey Smith  Investing.com -- Europe seals a deal on its $860 billion recovery package, while U.S. policymakers try to bridge a yawning gap between their positions on the fifth stimulus package since the pandemic erupted. Stocks are set to build on Monday's exuberant tech rally, while earnings from Texas Instruments (NASDAQ: TXN ),  Lockheed Martin  (NYSE: LMT ), Coca-Cola (NYSE: KO ) and others are due. Jeff Bezos is $13 billion richer after Amazon (NASDAQ: AMZN )'s surge on Monday, even though Prime Day is being delayed, and oil prices hit a four-month high on the general optimism. Here's what you need to know in financial markets on Tuesday, July 21st. 1. Europe's historic deal The European Union’s member states finally agreed on a landmark deal that will create a 750 billion euro ($860 billion) recovery fund for the bloc. The fund will be financed by borr...

Day Ahead: 3 Things to Watch for July 21 Investing.com  |  Jul 20, 2020 04:25PM ET   By Liz Moyer Investing.com --  Big tech stocks continued to dominate, pushing stocks higher on Monday even as many sectors came under pressure. Fears about a surge in coronavirus cases, which are forcing some big U.S. cities to postpone or reverse business opening plans, counterbalanced encouraging news about vaccines under development. Either way, investors appear to be betting that FANG companies will be able to ride though Covid-induced volatility. A smattering of corporate earnings are on tap this week, with big household names due to report Tuesday including Coca-Cola Company (NYSE: KO ) and United Airlines Holdings Inc (NASDAQ: UAL ). The petroleum industry is also supposed to release its weekly inventory report on Tuesday afternoon, even as industry reports on Monday point to a build-up of crude stockpiles. Here are three things that could affect the markets tomorrow: 1. ...

I Took My GF's Phone, Text Her Best Friend Saying "I'm Pregnant", Her Reply Made Me Faint - Fiction I think its time ladies stop breaking guy's heart. I refused to believe my eyes when I saw the reply from my girlfriend's best friend, oh ladies keep secret too much. Imagine, I took my girlfriend's android phone, send a text to her best friend saying " Cynthia, I'm pregnant, what should I do, who should I give" and cynthia's reply was the worst thing I ever had before, in fact, I fainted immediately I saw her reply. Hmm, my girlfriend that was very decent and innocent some years back is now an expert when it comes to relationship matters, this life is not just balanced. I met Mercy some years ago, when I asked her to give me her phone number then, she said no, she said her mother will beat her. I asked her to show me her house she refused, she claimed her father will kill her if she does that. When I tried to calm her down and speak some c...

10 Smartphones you can get for 40,000 naira and below. Most of us want a smartphone, even if we have, there's still that urge to get something better for ourselves. However there's a huge barrier, "Finance" or "budget" . So in today's article, I've been able to gather up smartphones you can get for 40,000 naira and below. And I so much hope this article satisfies you, and even be a choice point for your next darling smartphone. Without wasting much time, let's get started. Note; OS-oparating system MP - mega pixels. SPECS - specifications 1. Xiaomi redmi 8A PRICE, 36,500 naira. SPECS ; OS, Android 9.0 pie DISPLAY, 720 × 1520 pixels PROCESSOR, Qualcomm CPU, octacore RAM, 2GB / 3GB / 4GB ROM, 32GB / 64GB BATTERY, 5000 mAh CAMERA, FRONT 8MP REAR, 12MP 2. Umidigi a5 pro PRICE, 38,000 naira SPECS; OS, Android 9.0 pie DISPLAY, 2340 × 1080 pixels PROCESSOR, media Tek CPU, octa core RAM, 4GB ROM, 32GB expandible BATTER, 4150 mAh CAMERA, FRONT 16MP REAR, ...

Flashback: The Footballer who committed suicide because his team mate slept with his Wife Remember when Wayne Bridge snubbed John Terry’s handshake during a match between Manchester City and Chelsea? We were made to understand that John Terry had an affair with Wayne Bridge’s girlfriend by name Vanessa Perroncel, and obviously Bridge felt very bad about it. Bridge and Terry were teammates both at Chelsea and England and this seemed like the worst betrayal in football. It most likely caused tension in the dressing room and Terry had to be removed as England captain. About a year later, John Terry’s brother Paul, who was also a professional footballer, did something similar. He had an affair with Lindsay Cowan, who was the fiancee of his Rushden & Diamonds teammate Dale Roberts. Rushden & Diamonds is an English club and Dale Roberts played as a goalkeeper then. This incident caused Dale Roberts and Lindsay Cowan to split up and afterwards Roberts hanged himself. On th...

EU leaders take 'last steps' for recovery deal after days of squabbling Reuters  |  Jul 20, 2020 02:36PM ET   Be the first to comment By Kate Abnett and Foo Yun Chee BRUSSELS (Reuters) - European Union leaders appeared to be nearing agreement on a massive stimulus plan for their coronavirus-blighted economies on Monday despite lingering tensions between them after four days of summit squabbling. EU Council President Charles Michel said he would present the 27 leaders with a new proposal and was confident it could be the basis for a deal that many say is critical to dispel doubts about the bloc's very future. "I know that the last steps are always the most difficult but I am confident ... and I am convinced that an agreement is possible," he told reporters before heading back to the leaders. Slow to coordinate their initial response to the COVID-19 pandemic and already weakened by Britain's departure from the bloc, a deal on the economic aid plan would demonstr...

Stablecoins overtake bitcoin with the highest transfer value in the crypto market CRYPTOS  |  12:05 GMT  Bitcoin  lost about a percent in a week, and at the beginning of the new working week, the coin is trading around $9,200. The leading stock indices have also remained in a sideways price trend over the past week. Such weak dynamics can be seen as the calm before the storm. Participants of the crypto market are frozen in anticipation of the decisive new factor that will move the market from it's deadlock. In the meantime, we are witnessing a continued decline in BTC trading volumes. According to CoinMarketCap, they declined by another 16% over the week to the level of about $13 billion. If we take into account the data of aggregators, which focus on "real trading volume", picture becomes even bleaker. According to BitcoinTradeVolume, the real trading volume for Bitcoin per day is $430 mln. Data provider Messari points out that the only cryptocurrency wi...

Euro, euro zone bond markets hold out hope for recovery fund; stocks higher Reuters  |  Jul 20, 2020 07:05AM ET By Ritvik Carvalho LONDON (Reuters) - The euro and euro zone bond markets held out hope European Union leaders would strike a deal on a recovery fund for the bloc's pandemic-ravaged economy on Monday, while the region's stock markets inched cautiously higher as talks paused. The single currency hit its highest levels against the dollar since March 9, at $1.1467 after reports of progress following three days of negotiations towards the proposed 750 billion-euro fund. Bond markets also cheered the progress, with the risk premium investors pay for holding Italian government debt over Germany's - the bloc's benchmark - falling to 161 basis points, its lowest level since March 27. Stock markets were more reserved in their optimism, however. The pan-European  STOXX 600  index was 0.1% higher by mid-morning trade in London, with a risk-off tone expressed in sector...

Top 5 Things to Know in the Market on Monday, July 20th Investing.com  |  Jul 20, 2020 06:34AM ET   By Geoffrey Smith  Investing.com -- Stimulus packages in the U.S. and Europe hang in the balance, AstraZeneca (NYSE: AZN ) updates on the development of its hotly-touted Covid-19 drug, and crude oil prices fall on indications of a hit to Chinese demand. Walt  Disney  (NYSE: DIS ) quietly joins the Facebook (NASDAQ: FB ) advertising boycott, while  Chevron  (NYSE: CVX ) is poised to buy  Noble Energy  (NASDAQ: NBL ). Here's what you need to know in financial markets on Monday, July 20th. 1. Fights over the next round of stimulus  The week starts with two economic stimulus packages in focus. Congressional Republicans are due to meet with President Donald Trump to discuss the terms of what would be the fifth U.S. stimulus package, 11 days before a raft of earlier measures are due to expire. “The economy is probably not ready for the abru...