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Tag: Forex News Round Up

Oil Rises as Fragile Global Market Sensitive to Disruptions

Oil prices surged to a 2018 high after the US weekly crude inventory reported showed a larger than expected drawdown. Weather and geopolitical factors also keep crude bid. Hurricane Florence has changed direction and while not a massive threat to oil production, it is now forecasted to cause catastrophic flooding in the Carolinas. Supply disruptions […]

XAU/USD GOLD – US China Talks Report Unlocks Risk Aversion

Gold rose on Wednesday after a posible meeting between the US and China to discuss trade was reported to be planned by US Treasury Sec Mnuchin. Trade war tensions have pressured the yellow metal making the US the most desired destination. Signs of goodwill form the US unlocked risk appetite and investors are taking gold […]

China to seek closer Russia ties as US eyes more tariffs

U.S. tariffs on Chinese goods are going to lead to a “substantial improvement” between China and its neighbor Russia, the former People’s Bank of China (PBOC) Governor Zhou Xiaochuan told CNBC Tuesday. “From the economy’s (point of view) and the financial sector’s (perspective), we would like to have a normal relationship with the U.S.,” he told CNBC’s […]

China to ask WTO permission to impose sanctions on US

China will seek permission from the World Trade Organization (WTO) to impose sanctions on the U.S. next week, according to the WTO’s meeting agenda. The request comes at a time of escalating trade tensions between the world’s two largest economies, with President Donald Trump saying last week he was “ready to go” on tariffs for another $267 billion on Chinese […]

Carney extends his stay at BoE to 2020

The current Bank of England Governor Mark Carney has agreed to stay in his current role until the end of January 2020. “The extension was agreed in an exchange of letters between the Governor and the Chancellor (U.K. finance minister) published this morning,” the government said in a statement Tuesday. The governor had been due […]

TRY weakens as CBRT meeting approaches

The Turkish lira weakened slightly on Tuesday as investors weighed up expectations for this week’s central bank meeting, where the monetary policy committee is expected to raise interest rates. TRY has lost more than 40 percent of its value this year due to concerns over President Tayyip Erdogan’s grip on monetary policy and, more recently, […]

BoE’s Carney to stay until January 2020 to smooth Brexit

Bank of England Governor Mark Carney will stay at the central bank an extra seven months until the end of January 2020 to help smooth Britain’s departure from the European Union next year, finance minister Philip Hammond told parliament on Tuesday. Carney had been due to step down at the end of June 2019 — […]

What next for Sweden?

Sweden’s general election has produced a close and inconclusive result, with just 28,000 votes separating the two coalitions that have ruled the Nordics’ biggest economy in recent years. Expect days — and possibly weeks — of negotiations on a new government after a surge by the nationalist Sweden Democrats, which has deprived both the Social […]

Turkey must ensure independence of central bank

German Chancellor Angela Merkel urged Turkey on Monday to ensure the independence of its central bank as other senior officials said that Turkey’s economic woes were causing great concern. The Turkish lira has lost more than 40 percent against the dollar this year, largely due to worries about President Tayyip Erdogan’s influence over the economy, […]

Reuters Poll Shows Loonie Rising But NAFTA a Question Mark

Canada’s dollar will rise over the coming year as the Bank of Canada hikes interest rates and higher oil prices become more supportive of the currency, a Reuters poll showed, but it will take a NAFTA trade pact deal to trigger more optimistic gains. The poll of more than 40 foreign exchange strategists predicted the […]