Forex News

China Unexpectedly Cuts Short-Term Lending Rate

  The greenback rose 0.36% against the Chinese yuan to trade at 7.0288 yesterday after the People’s Bank of China made an unexpected decision to slash its short-term lending rate, the first of its kind in more than four years.

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UK Consumer Price Index Declines To 3-year Low

  The yen rose against the British pound after the release of better-than-anticipated bank lending and PPI data from Japan. The pound’s decline was also aided by the drop in the UK’s consumer price inflation to its lowest level in

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Pound Surges as UK Avoids Recession in Q3 2019

  The pound rose sharply against the yen yesterday after the data published by the UK Office for National Statistics indicated that the country had avoided a recession in Q3 2019, aided by services and construction. Additionally, the rally was

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Aussie Down as Retail Sales Halves in September

  The Aussie declined against the greenback after the data published by the Australian Bureau of Statistics indicated a sharp decline in retail sales in September, led by a drop in consumer spending in spite of systematic interest rate cuts.

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US Economy Grows Better-than-anticipated in Q3

  The euro traded sideways with slight bearish bias against the US dollar yesterday after the US Commerce Department reported a slight slowdown in the economic growth in the third quarter, compared to the previous quarter, but better-than-anticipated by economists.

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US Dollar Rises On Optimism Over Trade Deal With China

  The US dollar rose against the Swiss franc yesterday after news reports indicated that “phase one” of the Sino-American deal is nearing finalization. As optimism returned to markets, traders have started unwinding long positions in safe-haven currencies such as

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Canadian Dollar Declines On Drop in Wholesale Sales

  The greenback rose against the Canadian dollar yesterday after Statistics Canada reported a sharp decline in wholesale sales in August. The loonie was battered by speculators despite a drop in crude oil inventories. Before the report was released, the

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Pound Breaks Above $1.30 on Hopes of Brexit Deal

  The British pound rose to a five-and-a-half month high yesterday after the market turned optimistic about a Brexit deal with the European Union. In the meantime, the Northern Irish Democratic Unionist Party stated that it would not support any

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New Zealand Inflation Accelerates In 3Q 2019

  The New Zealand dollar fell against the greenback yesterday despite the Statistics New Zealand reporting a better-than-anticipated increase in consumer prices in 3Q 2019. Notably, global dairy prices increased slightly in the auction conducted on Tuesday. The main reason

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Singapore Dollar Weakens as MAS Eases Monetary Policy

  The Singapore dollar lost ground against the greenback yesterday after the country’s central bank (The Monetary Authority of Singapore) eased its monetary policy, citing a weak economic scenario. The Monetary Authority of Singapore, which utilizes the exchange rate as

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