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November 30, 2021

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China factory activity unexpectedly grows as some bottlenecks ease

Reuters
by Reuters00
Employees work on assembling automated guided vehicles (AGV) at a Lonyu Robot Co factory in Tianjin, China, September 7, 2021. Picture taken September 7, 2021. REUTERS/Tingshu Wang Register now for FREE unlimited access to reuters.com Register Nov manufacturing PMI inches back into expansion Nov services PMI slips on new lockdowns......
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UK services industry sees record cost inflation – CBI

Reuters
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People sit inside a restaurant, amid the outbreak of the coronavirus disease (COVID-19), in Chinatown, London, Britain, 18 May 2021. REUTERS/Hannah McKay Register now for FREE unlimited access to reuters.com Register LONDON, Nov 30 (Reuters) – Costs are rising at the fastest rate in over 20 years for firms in......
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Walmart CEO says Biden supply chain push is easing bottlenecks

Reuters
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WASHINGTON, Nov 29 (Reuters) – Walmart Inc (WMT.N) Chief Executive Doug McMillon on Monday hailed the Biden administration’s efforts to ease supply chain bottlenecks as the holiday season gets underway, noting the decision to extend port hours was having a positive impact on the flow of goods. “We are seeing......
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Gold steady as Omicron fears offset strength in dollar

Reuters
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Gold could trade between $1,780/oz and $1,830/oz- analyst Fed Governor Bostic open to accelerating stimulus tapering Nov 29 (Reuters) – Gold prices steadied on Monday as concerns over the impact of the Omicron coronavirus variant offset a stronger dollar, with investors assessing whether the emergence of the variant could change......
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Gold ticks higher as Omicron virus variant woes boost appeal

Reuters
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Nov 29 (Reuters) – Gold prices edged higher on Monday, as concerns over the impact of the possibly vaccine-resistant Omicron coronavirus variant supported the precious metal’s safe-haven appeal. FUNDAMENTALS * Spot gold rose 0.1% to $1,793.72 per ounce by 0201 GMT. U.S. gold futures advanced 0.4% to $1,793.2. Register now......
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Industrial metals slide on new coronavirus variant jitters

Reuters
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LONDON, Nov 26 (Reuters) – Copper prices and other industrial metals were on the back foot on Friday over fears that a new and possibly vaccine-resistant coronavirus variant could derail global economic growth and sap demand. Benchmark copper on the London Metal Exchange (LME) shed 3.3% to $9,474 per tonne......
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Turkey reaffirms commitment to rate-cutting despite lira plunge

Reuters
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Deputy minister says Turkey determined to keep rates low Central bank says in harmony with banking sector Lira trades flat after weakening as much as 45% this year ANKARA, Nov 26 (Reuters) – Turkey reaffirmed on Friday its commitment to recent aggressive rate cuts, despite a lira plunge to record......
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Most Latam currencies slip; rate hike prospects lift Brazil’s real

Reuters
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Mexican economy shrinks more than expected Brazil’s inflation hits highest in almost 20 years Turkish lira up 0.6%; central bank, banks discuss rates Hungary’s forint pulls away from all-time lows Nov 25 (Reuters) – Latin American currencies lagged emerging market peers on Thursday, with Mexico’s peso hit by shrinking economic......
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Sterling hits fresh 2021 lows vs dollar, 9-day low versus euro

Reuters
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LONDON, Nov 25 (Reuters) – Sterling fell on Thursday to a fresh 2021 low against the dollar and to a nine-day low versus the euroas worries over economic growth outweighed expectations for a Bank of England rate hike. The pound shed 0.1% versus the dollar to $1.3320 at 1644 GMT,......
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South African rand rises as dollar slips, stocks fall

Reuters
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South African Rand coins are seen in this illustration picture taken October 30, 2020. REUTERS/Mike Hutchings/Illustration Register now for FREE unlimited access to reuters.com Register JOHANNESBURG, Nov 25 (Reuters) – South Africa’s rand firmed slightly on Thursday, as the dollar slipped but still traded near a 16-month high after investors......
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Forint rebounds, long-term yields fall after 1-week depo rate rise

Reuters
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PRAGUE/BUDAPEST, Nov 25 (Reuters) – The forint bounced further from an all-time low on Thursday while long-term government bond yields fell after Hungary’s central bank raised its one-week deposit rate by 40 basis points to 2.9% as it fights rising inflation risks. The increase in the depo rate was the......
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Poland to cut taxes to soften inflation blow, says PM

Reuters
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WARSAW, Nov 25 (Reuters) – Poland will cut taxes on petrol, gas and electricity and provide cash payments to households in a programme worth up to 10 billion zlotys ($2.40 billion) designed to help Poles deal with high inflation, the prime minister said on Thursday. Inflation in emerging Europe’s largest......
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Low stocks, China support for property sector buoy copper prices

Reuters
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Nov 25 (Reuters) – London copper rose to a one-month high on Thursday, helped by China’s efforts to bolster its cash-strapped property sector and on concerns over tight global supply, while a weaker dollar made greenback-priced metals cheaper for holders of other currencies. Three-month copper on the London Metal Exchange......
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Wall Street ends higher; Nvidia surge offsets Nordstrom, Gap slide

Reuters
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Nordstrom, Gap tumble on weak earnings Core PCE index rises in October Real estate leads among S&P 500 sectors Nov 24 (Reuters) – Wall Street ended higher on Wednesday, lifted by gains in Nvidia and other tech stocks, while Gap and Nordstrom shares tumbled following weak quarterly reports. Nordstrom (JWN.N)......
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More Fed officials open to speeding up bond-buying taper, rates liftoff

Reuters
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Nov 24 (Reuters) – A growing number of Federal Reserve policymakers indicated they would be open to speeding up the elimination of their bond-buying program if high inflation held and move more quickly to raise interest rates, minutes of the U.S. central bank’s last policy meeting showed. The readout released......
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U.S. economy eyes strong 2021 finish as labor market tightens, spending accelerates

Reuters
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Weekly jobless claims fall 71,000 to 199,000 Continuing claims drop 60,000 to 2.049 million Consumer spending increases 1.3% in October Third-quarter GDP growth revised up to 2.1% WASHINGTON, Nov 24 (Reuters) – The number of Americans filing new claims for unemployment benefits dropped to a 52-year low last week, suggesting......
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Wall Street shares mixed as traders position for rate hikes, oil jumps

Reuters
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Nasdaq retreats; S&P 500, Dow Jones Industrial Average gain Oil prices rise after U.S. move to release reserves Turkish lira crashes 15% to record low WASHINGTON/LONDON, Nov 23 (Reuters) – Wall Street shares were mixed on Tuesday and the dollar slipped from a 16-month high as investors positioned for interest......
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Turkish lira in historic 15% crash after Erdogan stokes fire sale

Reuters
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Lira has shed 45% vs dollar this year, worst in world Central bank has slashed policy rate 400 points since Sept Turks say household budgets, future plans in turmoil Ex-central banker calls for end to ‘irrational experiment’ Erdogan insists tighter policy will not lower inflation ISTANBUL, Nov 23 (Reuters) –......
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Indian shares end losing streak on boost from metal, energy stocks

Reuters
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A man looks at a screen displaying news of markets update inside the Bombay Stock Exchange (BSE) building in Mumbai, India, February 11, 2016. REUTERS/Danish Siddiqui/File Photo Register now for FREE unlimited access to reuters.com Register BENGALURU, Nov 23 (Reuters) – Indian shares snapped four sessions of losses on Tuesday,......
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Turkish lira crashes 8% after Erdogan stokes firesale

Reuters
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Erdogan says tighter monetary policy will not lower inflation Lira has slumped 38% this year Central bank has slashed policy rate 400 points since Sept ISTANBUL, Nov 23 (Reuters) – Turkey’s lira nose-dived 8% on Tuesday after President Tayyip Erdogan defended recent sharp rate cuts, and vowed to win his......
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