Forex News

EU Commissioners – Italian Budget-draft Breaches EU Rules

  Italy’s bonds fell sharply yesterday, a few hours after the European Union’s executive body sent out a letter to the Italian government, and investors honed their focus on budget worries. As per the letter composed by the EU Commissioners

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US Shies Away From Naming China a Currency Manipulator

  The United States has abstained from labeling China a “currency manipulator,” a decision that could assist in defusing heightening anxiety over trade between the two countries. In the past, President Trump has accused China of deliberately keeping its currency

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US Dollar Remains Bullish On Strong JOLTS Data

  The dollar gained ground against the yen on upbeat Wall Street earnings and diminished global appetites for safe haven assets such as the yen. All the three major Wall Street indexes rose by over 2% as blue-chip companies reported

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Saudi Riyal Hits Two Year Low On Jamal Khashoggi’s Disappearance

  Saudi Arabia’s currency touched its two year low, and its global bond prices plunged on Monday on concerns that overseas investment could contract as Riyadh faces considerable pressure over the vanishing of journalist Jamal Khashoggi. Following the increasing pressure

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Turkish Court Frees US Pastor, Lira Strengthens

  In Turkey, the Second-High Criminal Court in the western Izmir province ruled on Friday that American pastor Andrew Craig Brunson be imprisoned for three years, one month and 15 days, but clarified that he would no longer be under

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Unimpressive CPI Data Dampens Fed Rate Hike Expectations

  The US dollar traded close to its lowest point in almost two weeks against its main peers on Friday as failing US treasury yields and additional losses on Wall Street damaged sentiment. The dollar index, a measure of the

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Euro Strengthens On Strong Italy Industrial Data

  The euro-dollar had been on a decline against the G10 currencies following the Italian budget saga and the strengthening US dollar. Specifically, the euro plunged against the Canadian dollar, mainly driven by the oil rally. However, the euro got

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Australian Dollar Strengthens As China Announces Stimulus

  A stronger greenback and a weakening Chinese economy are the main factors that led to poor performance of the Australian dollar in the previous few months. However, yesterday, the Australian Dollar gained ground after the People’s Bank of China

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Yen strengthens on Unexpected Boost In Consumer Spending

  The Japanese yen is gaining modestly against its counterparts today, after new economic data released last Friday indicates the country’s economy is marching forward steadily. However, the International Monetary Fund (IMF) published a report that suggested Tokyo avoid taking

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Turkish Lira Declines As Inflation Rate Surges 24.5%

  Turkey’s currency depreciated above six-to-a-dollar, compared with just below four-to-a-dollar a year ago, after data revealed that inflation has gone up for the sixth successive month to its highest reading in 15 years as a worsening economic crisis continues

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