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Day: August 20, 2018
August 202018
Canadian Dollar Flat After Better-Than-Expected Inflation, Traders Eye Retail Sales
The Canadian dollar is looking for direction on Monday after the government reported better-than-expected inflation numbers. Investors will now look ahead to retail sales data later this week, as well as keep a close eye on the US central bank headâs annual speech at Jackson Hole. On Friday, Statistics Canada reported that the July consumer price index (CPI) advanced 3.0%, beating market forecasts of 2.5%. The government agency further noted […]
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August 202018
Euro Stabilizes on Italian Budget Concerns Amid Recovering US Dollar
The euro today traded sideways against the US dollar amid market concerns regarding the infrastructure spending plans of the Italian government. The recovery by the US dollar earlier today drove the EUR/USD currency pair lower, but the pair has since recovered most of its losses to trade sideways. The EUR/USD currency pair today declined to a low of 1.1394, but later rallied higher to trade at 1.1443 at the time of writing. The currency pair initially headed […]
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August 202018
Pound Gains on Monday Despite Falling House Prices
The Great Britain pound rose against its major rivals today. It was surprising, considering that Britain’s macroeconomic data was not good and the Brexit worries continued to weigh on the currency. The Rightmove House Price Index dropped 2.3% in August from the previous month after falling just 0.1% in July. Year-on-year, the index rose 1.1%. The report claimed that it was just a “seasonal drop” because “new sellers […]
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August 202018
Turkish Lira Extends Decline on Monday
The Turkish lira continued to fall today after halting its recovery last week. For now, it looks like the decline did not affect other currencies. On Friday, Standard & Poor’s cut Turkey’s credit rating, announcing: S&P Global Ratings lowered its unsolicited long-term foreign currency sovereign credit rating on Turkey to ‘B+’ from ‘BB-‘ and its unsolicited long-term local currency sovereign credit rating […]
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