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Day: September 28, 2018
September 282018
Chinese Yuan Gains Amid Bearish Economic Forecasts
The Chinese yuan is gaining at the end of the trading week despite several bearish forecasts pertaining to the short-term outlook of the national economy and the currency. This comes one day after the yuan extended its losing streak to six months, the longest in 26 years, after shedding 4% against the greenback in the third quarter. On Sunday, the Caixin Purchasing Mangersâ Index (PMI) for the nationâs manufacturing sector will be released and the market is anticipating it […]
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September 282018
EUR/USD Recovers from Drop Caused by Italian Budget
EUR/USD dropped intraday but is recovering right now, though it still trades below the opening level. The major topic for the Forex market remained the Italian budget. Italy’s government approved the budget that will run with a deficit of 2.4% of GDP, drawing ire of the European Union. The markets’ reaction to the decision was also negative. Both personal income and spending rose 0.3% in August. The figure for income trailed market expectations […]
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