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Day: June 10, 2016
June 102016
EUR/USD Drops Further
EUR/USD extended its decline today following the relatively positive sentiment report from the University of Michigan. Now, traders anxiously anticipate the next week’s policy meeting of the Federal Reserve. Michigan Sentiment Index fell from 94.7 in May to 94.3 in June though it still was above the predicted value of 94.1. (Event A on the chart.) Treasury budget logged a deficit of $52.5 billion in May following the surplus of $106.5 billion in April. The median […]
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June 102016
CAD Rises on Employment Data, Loses Gains on Crude Oil Drop
The Canadian dollar jumped after the positive employment report but has started to go back down immediately afterwards. The currency preserved its gains versus the euro but lost them against the US dollar and the Japanese yen. Canadian employment grew by 13,800 in May from April, far exceeding the analysts’ consensus forecast of 3,100. The unemployment rate went down from 7.1% to 6.9% while experts predicted no change. The Canadian […]
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June 102016
Russian Ruble Falls After Interest Rate Cut
The Russian ruble fell versus the US dollar today after Russia’s central bank cut its main interest. The Bank of Russia reduced its key rate from 11% to 10.5% today. The central bank was optimistic in its outlook: The Board of Directors notes the positive trends of more stable inflation, decreased inflation expectations and inflation risks against the backdrop of imminent growth recovery in the economy. Nevertheless, prospects for additional cuts […]
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