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The US Bureau of Economic Analysis together with the Department of Commerce has just published this month’s data relating to Personal Income and Expenditure. These important data releases paint a picture of consumer activity and once inflation is allowed for they give an indication of short-term consumer sentiment. Personal Spending rose 0.3% in February compared
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The Canadian dollar fell to a fresh four-and-a-half year low against the greenback, as bearish sentiment continued to surround the loonie on the heels of the Federal Reserve’s latest decision. The loonie, which was hit early and often this week, continued to slide Thursday, as forex traders continued to bid up the US dollar following
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**The Bank of Canada Consumer Price Index Core figures for January (YoY) have just been released, the headline figure is 1.4% against a forecast of 1.3% and a December figure of 1.3%. Additionally, the Retail Sales number for December (MoM) has been published at -1.8%, a minor surprise given the market was prepared for a
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The main conclusion that can be drawn from published data on Friday on the labor market – the U.S. economy continues to recover, but at a slower pace than expected. To some extent, this is good news, because it suggests that the Fed will not speed up the process of folding, but ahead the U.S.
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On Thursday, according to the results of meetings held, the ECB and the Bank of England kept interest rates unchanged at 0.25% and 0.50% respectively. Decisions of central banks were in line with market expectations, so market participants’ attention immediately shifted to the press conference of Mario Draghi. The EURUSD fell to 1.3490 before the
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Currency » Round Up – US Employment Data & ECB Rate DecisionJames Boston - February 7, 2014, 08:42 GMT
In a kick to touch European Central Bank chief Mario Draghi cited lack of information as a reason for the ECB not adjusting its benchmark interest rate at yesterday’s meeting. The rate was left on hold at 0.25% and markets liked it. The Euro rose almost a figure and a half to over 1.36 during
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Yesterday the foreign exchange market after the release of mixed U.S. data basic pairs remained in a correctional phase, which began three days ago. During the European session the British pound was under pressure because of growth instead of business activity index in the services sector in the UK, which fell to 58.3, missing the
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Finally some welcome respite for Asian stocks as markets close higher for the first time in 5 days. The single exception being Japan’s Nikkei which posted another slight loss to finish down 0.2%. Macroeconomic factors, including relative calm in emerging markets, have contributed to the broad Asian market bounce while domestic corporate earnings are weighing
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On Tuesday due to the strengthening of the Australian dollar and the British pound against the U.S. dollar, the market moved in a sideways session trend. On the eve of important events now it no longer has to rely on strong and prolonged price fluctuations until Thursday. The EURUSD during the day consolidated at 1.3515
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Currency » Round Up – Equity Markets, US Non-Farms & EUR/USDJames Boston - February 5, 2014, 07:25 GMT
Almost US$3 trillion has been wiped off global equity markets so far this year as Central and Reserve Banks around the world gradually phase out monetary easing programs. It is not the scale of the stock market sell off that is causing concern, higher interest rates generally lead to lower stock markets, what is causing
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