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Tag: Forex News

EUR/USD – Euro trading sideways as German inflation matches forecast

EUR/USD almost unchanged in the Friday session. Currently, the pair is trading at 1.1645, up 0.05% on the day. On the release front, German PPI dipped to 0.3%, matching the estimate. The eurozone current account surplus dropped sharply to 22.4 billion. This was well short of the forecast of 27.2 billion and the lowest surplus […]

Yuan’s fall extends to a fourth straight day

PBOC weakens yuan by most in two years at daily fix China’s central bank weakened the yuan by the biggest single daily devaluation since June 2016. While the direction of spot USD/CNH could in some way be attributed to the rampant US dollar, there is some conjecture in the market that the devaluation is part […]

Dollar Falls After Trump Disagrees with Fed Policy

The dollar slipped slightly and Treasury yields edged lower after President Donald Trump said he disagreed with Fed policy on interest rates and objected to a strong dollar. The dollar index was at a fresh one-year high earlier Thursday, trading as high as 95.65. Trump made the comment to CNBC’s Joe Kernen in an interview […]

Gold slide resumes as jobless claims slide

Gold has resumed its losing ways in the Thursday session, after showing little change on Wednesday. In North American trade, the spot price for one ounce of gold is $1217.53, down 0.83% on the day. On the release front, manufacturing and employment data were better than expected. The Philly Fed Manufacturing Index climbed to 25.7, easily […]

South African reserve bank leaves repo rate unchanged at 6.5%

South Africa’s central bank kept its benchmark repo rate unchanged at 6.5 percent in a unanimous decision by members of the Monetary Policy Committee on Thursday, saying risks to inflation cited at previous meetings had begun to materialize. All 25 economists surveyed by Reuters had predicted the repo rate would stay on hold. “While headline […]

Canada: ADP National Employment Falls

Employment in Canada decreased by 10,500 jobs from May to June according to the June ADP® Canada National Employment Report. Broadly distributed to the public each month, free of charge, the ADP Canada National Employment Report is produced by the ADP Research Institute®. The report, which is derived from actual ADP payroll data, measures the […]

USD/CAD – Canadian dollar slides on soft employment report

The Canadian dollar has posted considerable losses in the Thursday session. Currently, USD/CAD is trading at 1.3266, up 0.73% on the day. On the release front, Canadian ADP Nonfarm Employment Change plunged, posting a reading of -10.5 thousand. This was the first decline of 2018. In the U.S, manufacturing and employment data were better than expected. […]

BoE hike still priced in despite worrying UK data

GBP bounces back after data driven selling European markets are trading in the red early in the session on Thursday, with the FTSE 100 the only major index in the green, supported by weakness in the pound after the release of some more disappointing data for the UK. The UK retail sales data this morning […]

DAX takes pause from recent gains

The DAX index has posted losses in the Thursday session. Currently, the DAX is at 12,715 down 0.39% on the day. Still, the DAX is in green territory this week, with gains of 1.4 percent. On the release front, there are no major German or eurozone events. On Friday, German PPI is expected to dip […]

‘Footy’ dented U.K retail sales and pounds sterling

Thursday July 19: Five things the markets are talking about Yesterday, the dollar retreated from a three-week high as the market cashed in on gains the currency made after two days of testimony by U.S Fed Chair Powell reinforced a strong economic outlook. In congressional testimony on Tuesday and Wednesday Powell said he believed the […]