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Tag: Forex News Round Up

Canada: Wholesale trade, March 2018

Wholesale sales rose 1.1% to $62.8 billion in March, more than offsetting the decline in February. The motor vehicle and parts subsector contributed the most to the gain. Excluding this subsector, wholesale sales rose 0.2%. Sales were up in four of seven subsectors in March. In volume terms, wholesale sales rose 0.8%. In the first […]

NAFTA Negotiations Ongoing But Not Dead

Talks between the U.S., Canada and Mexico on revamping the North American Free Trade Agreement are continuing but it appears unlikely there’s enough time for the U.S. Congress to vote on a deal before the end of the year, analysts say.“I don’t think they’re going to get a text to Congress at all within the […]

Greece to Meet Fiscal Targets in 2018 and 2019

Greece and its foreign creditors agreed that the country will meet its fiscal targets in the coming years and there will be no fiscal gap in 2018 and 2019, Prime Minister Alexis Tsipras told his cabinet on Monday.Athens and representatives from its European and International Monetary Fund creditors reached an initial agreement on Saturday on […]

Meaningful Progress Made in US and China Trade Talks

Treasury Secretary Steven Mnuchin put a positive face on the state of U.S.-China trade negotiations, saying Monday the talks so far already have yielded tangible benefits.”I think we’ve made very meaningful progress,” he told CNBC’s “Squawk Box.” “Now it’s up to both of us to make sure that we can implement it.”His comments come amid […]

Will Oil Sanctions Follow For Venezuela?

The U.S. is almost certainly preparing to impose targeted crude sanctions against Venezuela, analysts told CNBC on Monday, in a move likely to constitute a “devastating” blow for the oil-dependent state.Venezuelan President Nicolas Maduro won re-election to another six-year term on Sunday, despite widespread anger over the South American country’s crushing economic and social crises. […]

Italy Will Not Request Debt Write Off Despite Leaks Claiming Otherwise

The Italian right-wing Lega party denied reports that it’s seeking a 250 billion euro ($ 296.16 billion) debt write-off if it becomes part of a power-sharing deal with the anti-establishment Five Star Movement (M5S).Lega and the left-wing M5S have been locked in negotiations for more than two months, trying to find a political deal that […]

OECD Inventories Below 5-Year Average According to IEA

Commercial oil stocks in industrialized economies have fallen to their lowest level in three years, the International Energy Agency said Wednesday, in the latest sign that the global supply glut has been mopped up and the market rebalanced.In its closely watched monthly oil market report, the IEA said commercial oil inventories for the Organization for […]

Iran and Venezuela Could Keep Oil Elevated

Potential oil supply disruptions in Iran and Venezuela have prompted oil traders to focus on geopolitics rather than fundamentals, the International Energy Agency (IEA) said in its latest monthly report Wednesday, warning that any supply cuts could prompt prices to rocket.”The potential double supply shortfall represented by Iran and Venezuela could present a major challenge […]

Italian markets jolted by 5-Star, League coalition proposals

Italy’s borrowing costs jumped on Wednesday and its stocks fell after a draft program for a potential coalition government revealed plans to demand 250 billion euros of debt forgiveness and create procedures to allow countries to exit the euro. The anti-establishment 5-Star Movement and the far-right League party plan to ask the European Central Bank […]

U.S: Monthly new residential construction, April 2018

The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for April 2018. Building Permits Privately-owned housing units authorized by building permits in April were at a seasonally adjusted annual rate of 1,352,000. This is 1.8 percent (±1.3 percent) below the revised March rate […]