Day: October 26, 2018

October 26
2018

Chinese Yuan Sideways on GDP Q3 Forecast, Weakening Auto Sales

The Chinese yuan is struggling to find direction at the end of the trading week as investors comb through mixed economic reports. Because of the string of tariffs imposed on China, the world’s second-largest economy continues to experience the worst, including many of the nation’s sectors. And this, researchers say, could send its gross domestic product (GDP) lower. According to the China Association of Automobile Manufacturers (CAAM), wholesale deliveries of passenger vehicles tumbled 7.7% year-on-year in the third […]

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October 26
2018

Euro Heads Lower After Turbulent Week, Recovers on US GDP Data

The euro today broke out of a consolidative phase against the US dollar in the early European session as concerns regarding Italy and the global equity markets selloff weighed on the single currency. The EUR/USD currency pair later found a floor just before the release of the latest US GDP growth data in the early American session and rallied slightly on the news. The EUR/USD currency pair today declined from a high of 1.1383 to a low of 1.1334 before retracing some […]

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October 26
2018

EUR/USD Recovers Even as US GDP Beats Expectations

EUR/USD declined intraday amid the risk-off market sentiment but managed to recover later. Even the better-than-expected US GDP print was unable to prevent the rebound. US GDP rose 3.5% in Q3 2018 according to the advance estimate. While it was a slower rate of growth than 4.2% registered in Q2, the actual increase was bigger than 3.3% predicted by experts. (Event A on the chart.) Michigan Consumer Sentiment fell to 98.6 in October […]

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