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Day: August 2, 2018
August 22018
EUR/USD Declines As US-China Trade Conflict Escalates
EUR/USD declined on the reports that the trade war between the United States and China continued to escalate as the USA considered additional tariffs on Chinese imports. As for US macroeconomic reports, there were just two of them today, and both were within expectations. Initial jobless claims were at the seasonally adjusted rate of 218k last week, just marginally above the previous week’s level of 217k. That is compared to the median forecast of 220k. (Event […]
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August 22018
Turkish Lira at New Record Lows After US Slaps Sanctions on Turkey
The Turkish lira slumped to the new all-time low today after the United States slapped sanctions on Turkey, its NATO ally, over detention of a US pastor. Ankara accused evangelical Christian pastor Andrew Brunson of involvement in the failed military coup against President Recep Tayyip Erdogan in 2016. If convicted, he will face 35-year imprisonment. The incident and the resulting sanctions from the USA hurt the already strained relations between the two […]
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August 22018
Turkish Lira at New Record Lows After US Slaps Sanctions on Turkey
The Turkish lira slumped to the new all-time low today after the United States slapped sanctions on Turkey, its NATO ally, over detention of US pastor. Ankara accused evangelical Christian pastor Andrew Brunson of involvement in the failed military coup against President Recep Tayyip Erdogan in 2016. If convicted, he will face 35-year imprisonment. The incident and the resulting sanctions from the USA hurt the already strained relations between the two […]
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August 22018
US Dollar Emerges as Second Strongest Currency on Thursday
The US dollar gained today, emerging as the second strongest currency on the Forex market (losing only to the extremely strong yen), amid escalating trade tensions between the United States and China. Fears of trade wars intensified after US President Donald Trump proposed to more than double the proposed tariffs from 10% to 25% on $200 billion worth of Chinese goods. The US dollar, which often serves as a safe haven in times of fears […]
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August 22018
US Dollar Emerges as Second Strongest Currency on Thursday
The US dollar gained today, emerging as the second strongest currency on the Forex market (losing only to the extremely strong yen), amid escalating trade tensions between the United States and China. Fears of trade wars intensified after US President Donald Trump proposed to more than double the proposed tariffs from 10% to 25% on $200 billion worth of Chinese goods. The US dollar, which often serves as a safe haven in times of fears […]
Read more
August 22018
Canadian Dollar Flat on Strong Economic Data, Strengthening Greenback
The Canadian dollar is trading sideways on Thursday as the currency attempts to find direction from a mixed bag of news. While positive economic data and higher oil prices, the US dollar strengthening and Washington nearing a trade deal with Mexico appear to have offset those gains. According to Statistics Canada, the Canadian economy expanded 0.5% in May, the biggest increase in a year. The national economy benefited from recovering industries, many of which endured […]
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August 22018
Canadian Dollar Flat on Strong Economic Data, Strengthening Greenback
The Canadian dollar is trading sideways on Thursday as the currency attempts to find direction from a mixed bag of news. While positive economic data and higher oil prices, the US dollar strengthening and Washington nearing a trade deal with Mexico appear to have offset those gains. According to Statistics Canada, the Canadian economy expanded 0.5% in May, the biggest increase in a year. The national economy benefited from recovering industries, many of which endured […]
Read more
August 22018
EUR/USD Declines As US-China Trade Conflict Escalates
EUR/USD declined on the reports that the trade war between the United States and China continued to escalate as the USA considered additional tariffs on Chinese imports. As for US macroeconomic reports, there were just two of them today, and both were within expectations. Initial jobless claims were at the seasonally adjusted rate of 218k last week, just marginally above the previous week’s level of 217k. That is compared to the median forecast of 220k. (Event […]
Read more
August 22018
Sterling Pound Crashes on Dovish Carney Speech After BoE Rate Hike
The Sterling pound today crashed to new lows during a speech by Bank of England Governor Mark Carney regarding the bank’s interest rate decision. The GBP/USD currency pair had traded in a consolidative phase following the release of UK construction industry data before the BoE rate decision. The GBP/USD currency pair today crashed from an intra-day high of 1.3126 to a low of 1.3034 in the early American session. The currency pair was on a downward trend from […]
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August 22018
Sterling Pound Crashes on Dovish Carney Speech After BoE Rate Hike
The Sterling pound today crashed to new lows during a speech by Bank of England Governor Mark Carney regarding the bank’s interest rate decision. The GBP/USD currency pair had traded in a consolidative phase following the release of UK construction industry data before the BoE rate decision. The GBP/USD currency pair today crashed from an intra-day high of 1.3126 to a low of 1.3034 in the early American session. The currency pair was on a downward trend from […]
Read more