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Day: October 22, 2018
October 222018
Sterling Falls on Monday on Brexit Headlines
The Great Britain pound sank on Monday against all other most-traded currencies, including the euro that was extremely weak itself, amid the negative Brexit headlines, which made the currency unappealing to investors. There were reports that the Northern Irish Democratic Unionist Party is going to support the amendment that will make illegal the backstop plan for Norther Ireland proposed by the European Union. The EU offered to keep Northern Ireland […]
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October 222018
Canadian Dollar Sideways Ahead of Key BOC Rate Decision
The Canadian dollar is trading sideways on Monday ahead of an important announcement on interest rates by the Bank of Canada (BOC). The loonie is also struggling to find an upwards direction because of sliding crude oil prices, weak economic data, and a rallying greenback. According to Statistics Canada, national wholesale trade tumbled by 0.1% in August as the market projected a 0.2% jump. The disappointing numbers stem from weaker building material, motor vehicle, and supply sales. […]
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October 222018
Euro Weak as Clash Between Italy & EU Continues
The euro was weak against most of its major currencies today due to the clash between Italy and the European Union over Italy’s budget deficit target. The shared 19-nation currency managed to gain on the Great Britain pound, which was also extremely weak due to Brexit concerns. The Italian government rejected EU’s request to review the budget, sending a letter on Monday that was defending the increase in spending as a measure to reignite economic growth […]
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