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Daily forex forecast - 19/5/2010

The release of the RBA board minutes suggested just what the market had expected and in fact had already begun pricing in – interest rates are at normal levels.

Stocks slide as regulation worries hit banks

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Stocks sank on Tuesday, driven lower as the strengthening of financial regulation from Wall Street to Frankfurt crushed bank stocks, adding to worries about the sustainability of the global economic recovery.
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Stocks tumble as regulation worries hit banks

Stocks sank on Tuesday, driven lower as the strengthening of financial regulation from Wall Street to Frankfurt crushed bank stocks, adding to worries about the sustainability of the global economic recovery.
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Senate deal reached on state preemption

Moving to clear away an obstacle to passage of a Wall Street reform bill, key U.S. senators have struck a compromise balancing state and federal powers in bank consumer protection, aides said on Tuesday.
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S&P 500 drops 1 percent as banks weigh

U.S. stocks extended declines on Tuesday with the S&P 500 down slightly more than 1 percent, weighed down by bank stocks as investors fret over the implications of a federal financial regulation proposal.
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Pfizer to cut 6,000 jobs

Drugmaker Pfizer Inc will cut 6,000 jobs, or 18 percent of the workforce, at its 78 manufacturing plants over the next five years as it pares back operations following last year's purchase of rival Wyeth.
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Wall Street tumbles on weak euro and tech

Stocks slid on Tuesday, pressured by euro weakness that raised concerns about the impact on technology companies' sales and by worries over Europe's debt problems.
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Tarballs in Florida stoke fears of oil slick spread

Fears that the huge Gulf of Mexico oil spill was spreading through ocean currents flared on Tuesday after tarballs were found on Florida's Key West, while energy giant BP Plc worked to capture more of the leaking crude.
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Wal-Mart beats Street but warns on outlook

Wal-Mart Stores Inc's quarterly results beat Wall Street expectations, as a curb on costs helped the world's largest retailer overcome weaker U.S. same-store sales, sending shares up 3 percent.
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Wall St slips on weak euro and tech

U.S. stocks declined in choppy trading on Tuesday as the euro's weakness raised concerns about the impact on technology companies' sales and worries over Europe's debt problems resumed.
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Six-month test period for U.S. trading curbs: sources

Exchanges are expected to introduce new trading curbs known as circuit breakers for large U.S. stocks over a six-month pilot program, as regulators move to avoid a repeat of the severe market plunge on May 6, two people familiar with the talks said on Tuesday.
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Wal-Mart profit beats expectations

Wal-Mart Stores Inc posted quarterly results that beat Wall Street expectations, but said second-quarter earnings could fall short of Wall Street estimates as its shoppers remain under pressure.
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Pfizer to close more plants, cut 6,000 jobs

Drugmaker Pfizer Inc will cut 6,000, or 18 percent, of jobs at its 78 manufacturing plants over the next five years as it consolidates operations following last year's purchase of smaller rival Wyeth.
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Wall Street gains on euro-zone talks and earnings

Stocks rose on Tuesday on hopes euro-zone officials were making progress on a package of measures to resolve a debt crisis as well as solid earnings from a host of retailers, including Wal-Mart.
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Home Depot boosts outlook after strong spring

Home Depot Inc boosted its forecast for the year after a strong spring selling season, but investors questioned the strength of sales trends for the home improvement industry during the rest of 2010.
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Florida tar balls fuel fears of oil slick spread

A discovery of tar balls on Florida's Key West fanned fears on Tuesday that a massive Gulf of Mexico oil spill was spreading through ocean currents, as energy giant BP Plc worked to capture more of the crude leaking from its gushing deep-water well.
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U.S. to probe spill as BP says more oil contained

Energy giant BP said on Tuesday it was now able to siphon off about 40 percent of the oil gushing from a ruptured well in the Gulf of Mexico but has not been able to stop the leak, as President Barack Obama is to create a commission to probe the spill.
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Oil rebounds from five-month low

Oil rose more than 3 percent to above $72 a barrel on Tuesday, recovering from a five-month low the previous session, but high inventory levels and the strength of the dollar were expected to limit gains.
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Producer prices recede in April

Producer prices eased in April and costs excluding food and energy remained contained, suggesting inflation is not a near-term concern for officials at the Federal Reserve.
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Wal-Mart profit rises on strong international sales

Wal-Mart Stores Inc posted higher-than-expected quarterly profit on Tuesday, as strong growth in international markets helped offset a greater-than-expected drop in comparable sales at its U.S. discount stores.
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Housing starts hit 1-1/2 year high

U.S. housing starts touched a 1-1/2 year high in April, but a drop in permits to a six-month low suggested housing market recovery will remain slow.

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