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Day: January 11, 2019
January 112019
Dollar Mixed After Headline Inflation Slows
The US dollar was mixed following the release of an inflation report. Market analysts were still bearish on the currency, saying that there are not many factors that will support the greenback over the long term. The Bureau of Labor Statistics reported that the Consumer Price Index fell 0.1% in December, month-on-month, after showing no change in November. Year-on-year, consumer inflation slowed to 1.9% from 2.2% in the previous month. Core […]
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January 112019
Canadian Dollar Weakens on Grim Forecasts, Falling Oil Prices
The Canadian dollar is weakening to end the trading week as grim forecasts and disappointing numbers are sending the currency lower. The loonie was most impacted by a dovish central bank this week as interest rates were left unchanged and the governor sounding the alarm on the broader economy. The countryâs trade picture did not help matters. According to Statistics Canada, the countryâs merchandise trade deficit widened to a six-month in November. The statistics agency reported that […]
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January 112019
British Pound Rallies on Hopes That Brexit Will Be Delayed
The British pound today rallied higher against the US dollar in the European session on hopes that Brexit would be delayed. The GBP/USD had posted small gains after the release of mixed UK data where the GDP beat expectations, while manufacturing data missed estimates. The GBP/USD currency pair today rallied from a low of 1.2709 to a high of 1.2851 following the Brexit delay rumors. The currency pair earlier today traded with […]
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January 112019
EUR/USD Drops After US CPI Matches Market Expectations
EUR/USD fell today after a report showed that US consumer inflation slowed last month but was within expectations. A report on treasury budget was planned for today, but it was postponed indefinitely due to the government shutdown. CPI declined 0.1% in December on a seasonally adjusted basis, in line with market expectations, after showing no change in November. (Event A on the chart.) Yesterday, a report on seasonally adjusted initial jobless […]
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