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Tag: Forex News Round Up

Construction Spending Rises to All Time High in US

U.S. construction spending increased more than expected in December as investment in private construction projects rose to a record high and federal government outlays rebounded strongly. The Commerce Department said on Thursday construction spending rose 0.7 percent to an all-time high of $1.25 trillion. November’s construction outlays were revised down to show a 0.6 percent […]

US Automakers Post Mixed Sales Results in January

Major automakers posted mixed U.S. new vehicle sales figures for January, as American consumers continued to abandon passenger cars in favor of larger, more comfortable pickup trucks, SUVs and crossover models. U.S. auto industry sales fell 2 percent in 2017 to 17.23 million vehicles after hitting a record high in 2016 and are expected to […]

Fed Expected to Leave Rates Unchanged in Last Yellen Meeting

The Federal Reserve may sound a bit more hawkish as Fed Chair Janet Yellen’s tenure comes to an end. Yellen was presiding over her final meeting, and the Fed’s post-meeting statement will be released at 2 p.m. Wednesday afternoon. “They’re not going to raise rates this time around. They do want to at least confirm […]

ADP Jobs Report Beats Expectations Sets Stage for NFP on Friday

The new year got off to a strong start for job creation, with businesses adding 234,000 in January, according to a report Wednesday from ADP and Moody’s Analytics. Economists surveyed by Reuters had been looking for private payrolls to grow by 185,000. Job creation was concentrated largely in service-related industries, which contributed 212,000 to the […]

US Commerce Secretary Says NAFTA Far from Being Completed

The efforts to renegotiate NAFTA are “far from being completed at this point,” Commerce Secretary Wilbur Ross said on CNBC Wednesday. Ross told “Squawk Box” without being specific that some progress has been made on easier provisions, but “very little has been done on the hard issues.” Without mentioning specific trade free arrangements such as […]

Canadian GDP Rose 0.4 in November

The Canadian economy accelerated in November by the most in six months, with activity broad-based across a number of sectors including manufacturing and keeping the Bank of Canada on track to raise interest rates again before long. Gross domestic product rose by 0.4 percent from October’s flat reading, Statistics Canada said on Wednesday, in line […]

Justin Trudeau Does Not Believe US will pull out of NAFTA

Canadian Prime Minister Justin Trudeau said in an interview he does not think U.S. President Donald Trump will pull out of NAFTA, despite differences over how to update the trade pact, the Canadian Broadcasting Corp said on Wednesday. Trudeau’s comments were among the most positive made by any Canadian official since talks started last year […]

US Treasury Secretary Urges Congress to Raise Debt Ceiling

Treasury Secretary Steven Mnuchin on Wednesday called on the Republican-controlled Congress to lift the U.S. debt limit “as soon as possible” so the government can pay federal employee benefits and other obligations. In a letter to congressional leaders and key committee chairmen, Mnuchin said the Treasury Department would continue to suspend payments into federal employee […]

Dollar Weaker on Shrinking Central Bank Divergence and US Trade Stance

A persistently weak dollar is confounding currency traders and roiling global financial markets. Investors across asset classes are feeling the effects of the buck’s rocky start to the year, with the ICE U.S. Dollar Index DXY, -0.06% a measure of the currency against six major rivals, dropping 3.5% in the year to date, adding on […]

DoubleLine CEO Says Weak USD Good for Commodities

There’s good news ahead for commodities, with a particular bet on metals, as the outlook for the dollar looks to stay grim, according to experts. DoubleLine CEO Jeffrey Gundlach made a call for commodities during a webcast Tuesday, during which he predicted commodities would soon outperform stocks. This correlates with the weakness of the dollar, […]