Forex News

Bank of Mexico Warns Wage Hikes Could Propel Inflation

  The Mexican peso started declining against its rivals despite claims by senior government officials that a deal with the US to quash import duties on steel and aluminum from Mexico is imminent. Investors and speculators are concerned about Mexico’s

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Aussie Declines As Unemployment Rate Rises To 5.2%

  The Australian dollar came under selling pressure yesterday after the wage inflation missed economists’ estimates. Furthermore, the consumer sentiment index recorded soft growth, while the business conditions index declined. The US-China trade-related reports did not do the currency any

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Pound Down As Cross-Party Brexit Talks Fail To Go Forward

  The pound continued to fall against its competitors yesterday after the UK’s Shadow Chancellor of the Exchequer, John McDonnell, stated that there are no significant changes so far in the cross-party Brexit talks. Soft job data also encouraged traders

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US Dollar Weakens As China Announces Retaliatory Tariffs

  The US dollar declined against its major rivals on Friday after President Donald Trump increased tariffs on about $200 billion worth of Chinese goods to 25% from 10%. Yesterday, the downward trend continued on hopes of a Fed rate

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Pound Strengthens On Rumors of Theresa May’s Resignation

  The British pound moved sideways against the greenback on Friday, despite the announcement of strong UK GDP data in the early London session and multiple upbeat economic data. That was the second consecutive session in which the GBP/USD currency

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Yuan Weakens On Trade Tensions With US

  The Chinese yuan remains weak against most of the G10 currencies including the greenback as world markets are still tumbling from the upcoming US duty increases on billions worth goods from China. Beijing has vowed retaliation, despite allegedly nearing

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Malaysian Ringgit Falls As Negara Cuts Interest Rates

  Yesterday, Malaysia’s central bank, Negara, announced a cut to the prevailing interest rates in approximately three years to assist economic expansion and offset challenges from the global economic slowdown, trade unrest, and commodity price vulnerability. Also, the central bank issued

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Loonie Turns Volatile As US-China Trade Tensions Heighten

  On the first day of the trading week, the Canadian dollar lost ground against most of the G10 currencies in the European session, as oil prices fell on worries over global demand based on the heightening of US-China trade

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Pound Strengthens on Rebound In Services PMI

  The Sterling pound recorded its daily low against the greenback in the early European session on Friday after the news broke that the UK government has hardly made any progress in its cross-party Brexit talks. However, the GBP/USD currency

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Mexican Peso Weakens As Economy Contracts 0.2% in Q1

  The Mexican peso lost ground against a basket of currencies as the trading week nears to an end, mainly due to the contraction of the economy in the first quarter of fiscal 2019. Notably, despite the economic downturn, Peso

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