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Tag: Currency

US Trade Deficit Reaches 9 Year High

The U.S. trade deficit widened more than expected in December, hitting its highest level since 2008 as robust domestic demand pushed imports to a record high. The Commerce Department said on Tuesday the trade gap increased 5.3 percent to $53.1 billion. That was the highest level since October 2008 and followed a slightly upwardly revised […]

Gold Drops as US Stock Markets Recover

Gold has posted strong losses in the Tuesday session. In North American trade, the spot price for an ounce of gold is $1328.04, down 0.86% on the day. On the release front, JOLTS Jobs Openings slowed to 5.81 million, well off the estimate of 5.95 million. Gold prices moved higher on Monday, following a massive sell-off […]

GBP/USD – Pound Drops to 2-Week Low After Global Sell-off Boosts Dollar

The British pound remains under pressure this week. In Tuesday’s North American session, GBP/USD is trading at 1.3951, down 0.15% on the day. On the release front, there are no British events on the schedule. The US trade deficit widened, climbing to $53.1 billion and missing the forecast of $52.1 billion. In the US, JOLTS Jobs […]

USD/CAD – Canadian Dollar Under Pressure as Global Stock Markets Slide

The Canadian dollar is steady in the Tuesday session, after considerable losses in the past two sessions. Currently, the pair is trading at 1.2556, up 0.16% on the day. On the release front, Canada’s trade deficit widened to C$2.3 billion, missing the estimate of C$2.3 billion. The US trade deficit also widened, climbing to $53.1 billion […]

CAC Slides on Global Sell-Off

The CAC index has posted sharp losses in the Tuesday session. Currently, the index is at 5141.70, down 2.70% on the day. On the release front, there are no key indicators on the schedule. France’s deficit dropped sharply to EUR 67.8 billion, down from the previous reading of EUR 84.7 billion. This marked a 6-month […]

DAX Slides as US Stock Markets See Red

The DAX index continues to lose ground this week. In the Tuesday session, the index is trading at 12,454.51, down 1.88% on the day. On the release front, German Factory Orders impressed with a gain of 3.8%, crushing the estimate of 0.6%. On Wednesday, Germany releases Industrial Production. The DAX ended last week with losses, as […]

EUR/USD – Euro Rebounds After Monday Losses, German Factory Orders Soar

The euro has posted gains on Tuesday, after starting the week with losses. Currently, the pair is trading at 1.2407, up 0.32% on the day. On the release front, German Factory Orders impressed with a gain of 3.8%, crushing the estimate of 0.6%. In the US, the key event of the day is JOLTS Job […]

Gold Shrugs as US Services PMI Beats Expectations

Gold has posted small gains in the Monday session. In North American trade, the spot price for an ounce of gold is $1335.14, up 0.15% on the day. On the release front, the ISM Non-Manufacturing PMI climbed to 59.9, above the forecast of 56.5 points. This points to strong expansion in the services sector and […]

GBP/USD – Pound Drops as UK Services PMI Disappoints

The British pound has posted considerable losses in the Monday session. In North American trade, GBP/USD is trading at 1.4009, down 0.79% on the day. On the release front, the focus was on the services sectors. British Services PMI slowed to 53.0, missing the estimate of 53.0 points. Later in the day, the UK releases British […]

CAC Slides on US Inflation Concerns

The CAC index is down sharply in the Monday session. Currently, the index is at 5293.90, down 1.32% since the Friday close. On the release front, Eurozone and French Services PMIs improved in January, and both readings beat their estimates. Eurozone retail sales declined 1.1%, matching the forecast. Later in the day, ECB President Mario […]