Forex News

Turkey Central Bank Opts For Deeper Rate Cut Again

  The Turkish Lira gained against the greenback yesterday despite a greater-than-anticipated rate cut by the central bank of Turkey. The primary reason was that some of the major participants in the financial markets had expected the country’s central bank

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US Dollar Up On Increase In Wholesale Inventories

  The US dollar gained against the Japanese yen as economic data released yesterday indicated a rebound in wholesale inventories in July. The greenback’s rally was also fueled by a small increase in the US producer prices in August. The

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China Inflation Remains Unchanged at 2.8%, PPI Declines

  After losing ground to the greenback on Monday, the Chinese yuan rebounded yesterday morning following the release of better-than-anticipated inflation rate in August. However, the yuan was unable to consolidate as data released late yesterday indicated a decline in

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Pound Up On Better-than-anticipated July GDP Data

  The British pound surged sharply yesterday against the greenback after the Office for National Statistics (ONS) published better-than-anticipated GDP growth in July. The positive GDP data comforted the market, which was worried about recession ahead of the UK’s exit

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Bank of Russia Cuts Rate For 3rd Time on Weak Inflation

  The Bank of Russia slashed the benchmark interest rate in line with the previous guidance, the third rate cut in as many policy meetings, and hinted further easing as economic growth remains sluggish and inflation remains weak. However, the

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Switzerland Posts Weak Economic Growth In 2Q19

  The greenback declined against the Swiss franc in the European session yesterday after the GDP data indicated better-than-anticipated growth in the second quarter of fiscal 2019. However, the Swiss National Bank (SNB) is not expected to hike interest rates,

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Aussie Rises As Q2 GDP Growth Meets Estimates

  The Aussie rallied against the greenback yesterday after the Australian Bureau of Statistics reported second-quarter GDP growth in line with analysts’ expectations. The currency pair also got a boost from better-than-anticipated services PMI (Purchase Managers’ Index) of China. From

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Brexit Issue, Weak Construction Data Keeps Pound Bearish

  The pound declined yesterday against its key rivals, including the greenback, as the UK legislators who are against a no-deal Brexit are getting ready to block Brexit in the House of Commons. Furthermore, the negative impact of economic data

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Turkish Economy Registers Weak Q2 Growth

  The Turkish lira gained slightly against the greenback after the Turkish statistical office released data that showed a slower-than-anticipated contraction of the economy in the second quarter. The revaluation of lira is also happening as the market is awaiting

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Canadian Dollar Up On Impressive Q2 GDP Growth

  The eurodollar declined against the Canadian dollar on Friday after data indicated that the Canadian economy expanded at a higher rate than anticipated. The loonie’s recovery was also aided by a big weekly gain in oil prices and an

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