Day: September 12, 2018

September 12
2018

Chinese Yuan Strengthens Despite Banks Making Fewer Loans

The Chinese yuan is making gains against its US counterpart midweek, despite new economic numbers that show weaker corporate loan demand and a Bank of England (BOE) warning that China threatens the global economy. The yuan has strengthened over the last week, but it is still down 1% since August against the greenback. According to the People’s Bank of China (PBOC), financial institutions extended fewer loans […]

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September 12
2018

Australian Dollar Bounces After Intraday Decline

The Australian dollar dipped today following the release of a negative macroeconomic report in Australia but bounced later, trading near or above the opening level against its most-traded rivals by now. The Westpac Melbourne Institute Index of Consumer Sentiment declined 3% in September from the previous month after falling 2.3% in August. As a result, the index touched the lowest level since November. The report explained the weak reading citing the following reasons: The detail suggests […]

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September 12
2018

EUR/USD Rebounds After PPI Falls Unexpectedly

EUR/USD fell intraday but started a rebound after US producer prices demonstrated an unexpected drop last month. Now, the currency pair trades slightly above the opening level. PPI fell 0.1% in August. That is compared to no change in July and the predicted increase by 0.2%. (Event A on the chart.) US crude oil inventories dropped by 5.3 million barrels last week and were below the five-year average for this time of year. […]

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