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Tag: Forex News Round Up

U.S Weekly Jobless Claims Drop as Labor Market Gains Steam

The number of Americans filing for unemployment benefits unexpectedly fell last week, pointing to a further tightening in labor market conditions. The robust labor market and firming inflation have cemented expectations the Federal Reserve will raise interest rates next week. Many economists believe the U.S. central bank will hike rates two more times after its […]

CBRT Raises Rates, Pushing Turkish Lira Up

The Turkish lira has aggressively rallied this morning after the Central Bank of the Republic of Turkey raise the one-week repo rate by +100 bps to +17.75%. Over 60% of FX dealers were expecting a tighter monetary policy, but by +25 to +50 bps. USD/TRY has fallen to a one-week low of $4.4570 (-1.83%), down […]

Oil Drops on Surprise Inventories Increase

Oil prices fell on Wednesday on signs Saudi Arabia and other big producers may increase production, and U.S. crude slid more than 1 percent on a surprise build in domestic crude stockpiles. U.S. crude inventories rose 2.1 million barrels in the week to June 1, the Energy Information Administration said, a surprise after analysts had […]

France Wants Ambitious Eurozone Reforms

France wants a more ambitious reform of the euro zone than the one sketched out by Angela Merkel and will press the German chancellor for additional concessions on a euro zone budget and banking union in the weeks ahead, French officials say. After months of silence and mounting criticism, Merkel offered a detailed response to […]

ECB to Take Step Towards QE Exit

Central bankers gathered in Berlin Wednesday confirmed the European Central Bank (ECB) is set to finally discuss the end of its massive bond-buying program — something that its President Mario Draghi has so far refused to do. Speaking at a conference, the ECB’s Chief Economist Peter Praet said the bank will discuss next week how to wind down its 30 billion […]

World Bank Offers Dire Warning on Tariffs

A ramp-up in the pace and scope of tariffs could set the world back to 2008 in terms of global trade levels, the World Bank has warned. In its latest Global Economic Prospects report, published Tuesday, the multinational finance organization had a grim forecast for both emerging and developed markets in the event that the […]

U.S Oil Prices Fall after EIA Report

The U.S. Energy Information Administration reported Wednesday that crude supplies climbed by 2.1 million barrels for the week ended June 1. Analysts surveyed by S&P Global Platts had forecast a decline of 1.3 million barrels, while the American Petroleum Institute on Tuesday reported a fall of 2 million barrels, according to sources. Gasoline stockpiles jumped […]

Canada: International Merchandise Trade, April 2018

Canada’s exports rose 1.6% to a record $48.6 billion in April, while imports were down 2.5% to $50.5 billion. As a result, Canada’s merchandise trade deficit with the world narrowed from $3.9 billion in March to $1.9 billion in April. In real (or volume) terms, exports rose 1.2% and imports fell 2.4%. Exports reach record […]

U.K retail sales boosted by hot weather

Warmer weather, bank holidays and the royal wedding helped to boost retail sales in May, a survey has indicated. The British Retail Consortium (BRC) said total sales rose by 4.1% in May from a year earlier, the fastest pace for more than four years. However, the BRC noted that retail conditions remained tough, with growth […]

U.S. job openings hit record high in April

U.S. job openings rose to a record high in April, but hiring continued to lag, pointing to a worsening shortage of workers. Job openings, a measure of labor demand, increased to a seasonally adjusted 6.7 million from 6.6 million in March, the Labor Department said on Tuesday in its monthly Job Openings and Labor Turnover […]