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Day: August 27, 2014
August 272014
NZ Dollar Gains on Fonterra Dairy Price Forecast
The New Zealand dollar climbed today after Fonterra Cooperative Group Ltd., the world’s biggest dairy exporter, maintained its milk-price forecast on expectations that China will increase imports. China reduced its purchases of dairy products after building up inventories, making Fonterra cut its forecast previously. Many analysts had expected another cut today and were relieved to see that the forecast remained unchanged as the group […]
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August 272014
EUR/USD Touches New Low on German Consumer Sentiment
The euro touched a new low for the year versus the US dollar today as traders are anticipating additional monetary easing from the European Central Bank. Worsening German consumer sentiment was not helping matters. While the shared 18-nation currency bounced against the greenback and was flat versus the Japanese yen most market analysts expect the weakness to persist in the future. The GfK German Consumer Climate unexpectedly slipped from 8.9 to 8.6 […]
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