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Day: January 10, 2019
January 102019
US Dollar Rebounds on Comments of Fed Chair Powell
The US dollar gained against its most-traded rivals today following yesterday’s losses caused by dovish monetary policy minutes released by the Federal Reserve. Market analysts explained the rebound by comments from Fed Chairman Jerome Powell. Yesterday, the Fed released minutes of its December monetary policy meeting. Markets considered the notes to be more dovish than expected. In particular, the central bank hinted that it can be patient […]
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January 102019
Canadian Dollar Firm on Positive Macroeconomic Data
The Canadian dollar performed fairly well today thanks to positive domestic macroeconomic data and rebounding crude oil prices. The currency fared far worse yesterday, falling after the monetary policy meeting of the Canadian central bank. Statistics Canada reported that the number of building permits rose 2.6% in November from October after falling 0.4% in the previous month. Experts had predicted a 0.5% decline. Meanwhile, the New Housing Price Index […]
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January 102019
Chinese Yuan Rises on Slowing Inflation, New Stimulus Measures
The Chinese yuan is gaining against its US counterpart on Thursday on slowing inflation and recent measures by the federal government to stimulate the economy. But as Beijing employs more initiatives to spur growth, some analysts are sounding the alarm about the worldâs second-largest economy pushing new âuntestedâ policies that may or may not achieve growth officials want. According to the National Bureau of Statistics, producer inflation climbed less than expected […]
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January 102019
Euro Falls From Highs Triggered by Dovish Fed as US Dollar Rebounds
The euro today rallied higher against the US dollar in the early Asian session following yesterday’s dovish FOMC minutes and Fed comments. The single currency soon headed lower as the US dollar staged a rebound boosted by the risk averse market sentiment as the optimism around the US-China trade talks faded. The EUR/USD currency pair today dropped from an Asian session high of 1.1570 to hit a low of 1.1516 in the American session. The currency pair rallied […]
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