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Tag: Forex News Round Up

Oil Ends Week Lower on End of Supply Disruptions

Oil prices were set for a second straight week of decline on Friday after Libyan ports reopened and on the view that Iran might still export some crude despite U.S. sanctions. Brent crude LCOc1 was down 10 cents at $74.35 per barrel by 1308 GMT, having fallen earlier by 1.3 percent. It was heading for […]

Chinese Firms Exported More to US Ahead of Tariffs

China’s trade surplus with the United States swelled to a record in June as its overall exports grew at a solid pace, a result that could further inflame a bitter trade dispute with Washington. But signs exporters were rushing shipments before tariffs went into effect in the first week of July suggest the spike in […]

USD Rises on Trade War Concerns

The euro fell to a nine-day low on Friday after data showing a record Chinese trade surplus stirred worries about a deeper United States-China trade conflict, encouraging investors into the safety of the dollar. The Chinese yuan, which has suffered in the past six weeks on concern that U.S. tariffs on Chinese goods will eventually […]

Dollar Gains vs JPY and CHF

The U.S. dollar held steady at a six-month high against the Japanese yen and a two-month high against the Swiss franc on Thursday, bolstered by solid inflation data and investor sentiment that the greenback stands to benefit from a trade war. The yen and the Swiss franc are favoured as safe-haven investments. But against the […]

US Sec Mnuchin Says China Trade Could Re-Open

The United States and China could reopen talks on trade but only if Beijing is willing to make significant changes, U.S. Treasury Secretary Steven Mnuchin said on Thursday. “I would say to the extent that the Chinese want to make serious efforts to make structural changes, I and the administration are available any time to […]

GBP/USD – British pound ticks higher, U.S consumer inflation remains soft

The British pound is showing slight gains in the Thursday session. In North American trade, the pair is trading at 1.32246, up 0.15% on the day. In economic news, the BoE released its credit conditions survey. In the U.S, CPI edged down to 0.1%, shy of the forecast of 0.2%. Core CPI remained steady at 0.2%, […]

Oil Lower After IEA Says Supply Stretched to the Limit

Oil prices steadied on Thursday after sharp losses the previous session as the International Energy Agency (IEA) said the world’s oil supply cushion “might be stretched to the limit” due to production losses. Benchmark Brent crude oil LCOc1 rose $1.70, or more than 2.3 percent, to a high of $75.10 a barrel before losing almost […]

Fed’s Mester Says US Economy Can Handle Two More Rate Hikes

Members of the Federal Reserve are telegraphing two more rate hikes this year, with Federal Open Market Committee voting member Loretta Mester on Wednesday repeating the central bank’s expectation for the next six months. “The economy can certainly handle two more increases this year,” Mester, the president of the Cleveland branch of the Fed, said […]

Dollar Mixed After Strong Inflation and Trade Concerns Cancel Each Other

U.S. consumer prices barely rose in June, but the underlying trend continued to point to a steady buildup of inflation pressures that could keep the Federal Reserve on a path of gradual interest rate increases. Other data on Thursday showed first-time applications for unemployment benefits dropped to a two-month low last week as the labor […]

Canadian Dollar Lower Despite BoC Hike and Hawkish Comments

The Bank of Canada raised interest rates on Wednesday, as expected, and said further gradual rate hikes will be warranted, but warned mounting trade tensions will have a larger impact on investment and exports than previously thought. The central bank said the effect of tit-for-tat tariffs imposed by Canada and the United States will cause […]