Day: July 22, 2016

July 22
2016

Canadian Dollar Pulls Back After Earlier Gains

Loonie is mostly lower right now, following earlier gains. The Canadian dollar saw some initial gains today on better than expected economic data, but many of those gains have disappeared following uncertainties moving forward, along with an end to a recent winning streak by oil. Earlier, the Canadian dollar saw some gains, thanks to better expected economic data. The latest CPI data showed some modest […]

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July 22
2016

UK Pound Plunges on Latest PMI Reading

Thanks to the Brexit vote, confidence in the UK economy is poised for big losses. The latest PMI reading — a special reading by Markit — indicates that things could be headed for trouble. Sterling is dropping dramatically on the news, losing ground to its major counterparts. The latest PMI readings from Markit are in, and they indicate potential trouble ahead for the UK economy in the wake of the Brexit vote. The PMI for the services sector dropped to 47.4 […]

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