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Forex News
December 12016
Australian Dollar Unable to Maintain Upward Momentum
The Australian dollar failed to maintain its rally despite relatively supportive macroeconomic data, both domestic and overseas. The Australian currency demonstrated the performance which was rather similar to that of its New Zealand counterpart — an attempt to rally intraday, but a failure to maintain gains. As for economic reports from Australia, they were rather good, with the exception of private capital expenditure that showed a 4% drop in the third quarter of this year […]
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December 12016
New Zealand Dollar Fails to Rally Despite Data from China
The New Zealand dollar slipped against most major currencies today (though not against the US dollar) as relatively positive data released from China failed to bolster the currency of its trading partner. China’s official data showed that manufacturing Purchasing Managers’ Index rose from 51.2 to 51.7 in November, exceeding market expectations and demonstrating the second month of increase. Meanwhile, the private Caixin report showed a small drop to 50.9 […]
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December 12016
New Zealand Dollar Fails to Rally Despite Data from China
The New Zealand dollar slipped against most major currencies today (though not against the US dollar) as relatively positive data released from China failed to bolster the currency of its trading partner. China’s official data showed that manufacturing Purchasing Managers’ Index rose from 51.2 to 51.7 in November, exceeding market expectations and demonstrating the second month of increase. Meanwhile, the private Caixin report showed a small drop to 50.9 […]
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November 302016
Canadian Dollar Surges Against Euro Following OPEC’s Output Cut
The Canadian dollar rose against the euro on Wednesday, as a surge in oil prices supported the currency of the oil exporting nation. The Organization of the Petroleum Exporting Countries concluded a meeting in Vienna today, which was closely watched by traders to look for signs of a possible agreement to cut production. The organization announced that a deal was reached between its member countries. According to this deal, which is the first since 2008, OPECâs collective production will […]
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November 302016
Canadian Dollar Surges Against Euro Following OPEC’s Output Cut
The Canadian dollar rose against the euro on Wednesday, as a surge in oil prices supported the currency of the oil exporting nation. The Organization of the Petroleum Exporting Countries concluded a meeting in Vienna today, which was closely watched by traders to look for signs of a possible agreement to cut production. The organization announced that a deal was reached between its member countries. According to this deal, which is the first since 2008, OPECâs collective production will […]
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November 302016
Dollar Sharply Gains as US Data Releases Lift It Higher
The dollar rose higher against other major currencies on Wednesdayâs trading session. The US currencyâs gains came as a stack of data releases in the United States and news of a highly anticipated agreement to cut oil production lifted investorsâ optimism today. The US Automatic Data Processingâs report for national employment said that non-farm private sector employment rose by 216,000 in November, from 147,000 in October. The data surpassed expectations of an increase by 165,000. At the same […]
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November 302016
Dollar Sharply Gains as US Data Releases Lift It Higher
The dollar rose higher against other major currencies on Wednesdayâs trading session. The US currencyâs gains came as a stack of data releases in the United States and news of a highly anticipated agreement to cut oil production lifted investorsâ optimism today. The US Automatic Data Processingâs report for national employment said that non-farm private sector employment rose by 216,000 in November, from 147,000 in October. The data surpassed expectations of an increase by 165,000. At the same […]
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November 302016
New Zealand Dollar Trims Gains Following Earlier Rally
The New Zealand dollar rose today, though trimmed its gains versus the US dollar and the euro by now. The ANZ business confidence fell from 24.5 to 20.5 in November, but the report was not pessimistic, saying: The economy is still riding the wave: the level of firmsâ own activity and profit expectations, together with employment and investment intentions, all flag strong growth. The tide is still out when it […]
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November 302016
New Zealand Dollar Trims Gains Following Earlier Rally
The New Zealand dollar rose today, though trimmed its gains versus the US dollar and the euro by now. The ANZ business confidence fell from 24.5 to 20.5 in November, but the report was not pessimistic, saying: The economy is still riding the wave: the level of firmsâ own activity and profit expectations, together with employment and investment intentions, all flag strong growth. The tide is still out when it […]
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November 302016
Polish Zloty Weakens Slightly as Growth Forecast Revised Lower
The Polish zloty fell a bit today after the outlook for this year’s economic growth in Poland was revised lower. Polish Finance Minister Mateusz Morawiecki stated that Poland’s economy is likely to grow between 2.5% to 3% this year. That is compared to the previous forecast of 3.4%. The Organization for Economic Co-operation and Development predicted growth of 2.6% in 2016 and around 3% in 2017–18 for Poland. USD/PLN ticked up 0.03% to 4.1665 […]
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