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Tag Archives: forex news round up

USD Lower Versus Yen Awaiting Action Packed Thursday

The dollar weakened to a more than six-week low against the yen on Tuesday, dipping below a key technical level as Treasury debt yields slipped on increased caution ahead of a trio of potentially market moving events on Thursday. Nervous investors piled into low-risk bonds and other safe-haven assets on worries linked to Britain’s general election, the European Central Bank’s policy meeting and former FBI Director James Comey’s testimony...

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Asia markets stressed ahead of high risk events

REUTERS – Most Asian currencies edged up against the dollar on Tuesday, though the same global developments that hurt the greenback also reduced risk appetites for cautious investors. Against the yen, the dollar was down 0.6 percent to 109.770 yen, its lowest since April 25. Investors were worried about the Middle East and terror attacks, and were awaiting the British election, a policy meeting of the European Central Bank and congressional testimony in Washington of former FBI director James Comey – all...

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Stronger more stable Yuan should appeal to international investors

Higher yields, easing currency concerns, and further opening up of the domestic market are likely to prompt rising investment into China’s US$9 trillion onshore market by foreign investors in the coming months, according to analysts. Bond yields on China’s onshore market have risen back to their levels of late 2014, driven by the rebound in inflation and commodity prices in November and December, and accelerated since March as interbank rates surged and the regulator cracked ...

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Italian Banks Could Suffer Further Losses on Bad Loans

Italy’s troubled banks may suffer an additional 10 billion euros ($11 billion) in losses from the sale of their bad loans at current market prices, said Ignazio Visco, Bank of Italy governor and ECB governing council member. “If they were sold at the very low prices offered by the few large specialist debt collection agencies active in the market today, which pursue very high returns, the amount of additional writedowns would be in the order ...

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Italian Unemployment at Near-Five Year Low

Italy’s jobless rate fell in April to an almost 5-year low, pointing to improved growth prospects for the rest of this year. The unemployment rate was 11.1 percent, down from a revised 11.5 percent in March, statistics agency Istat said Wednesday in Rome. The median estimate in a Bloomberg survey of 13 analysts called for a reading of 11.6 percent. It was the lowest ...

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EU Demands on Citizens Rights “Ridiculously High”

Brexit Secretary David Davis said European Union demands to protect its citizens’ rights in the U.K. are “ridiculously high” and will be the first subject of negotiations to exit the bloc after next month’s election. European officials “are playing very hardball tactics and someone will have to know how to deal with them,” Davis told LBC Radio on Tuesday. “The demands they are putting up...

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Greece Will Not Opt Out of Debt Repayment

A Greek government spokesman denied a German newspaper report on Tuesday that it was considering opting out of a loan repayment in July if lenders could not agree on debt relief. “It is not true,” government spokesman Dimitris Tzanakopoulos told Reuters. “There will be a solution on June 15.” Greece is hoping a June 15 meeting of euro zone finance ...

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Macron Party Leading the Way in Parliamentary Polls

French President Emmanuel Macron’s party is expected to win the most votes in the first round of June’s parliamentary election, a poll showed on Tuesday which reinforced the similar pattern of previous surveys this week. The Ipsos/Sopra Steria poll for France Television and France Radio said Macron’s start-up Republic on the Move (LREM) party and its MoDem partner ...

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ECB to review improved growth, declining risks in June: Draghi

Risks to euro zone growth have declined further and the European Central Bank will be in position at its June 8 meeting to reassess the outlook for growth and inflation, ECB President Mario Draghi said on Monday. “Downside risks to the growth outlook are further diminishing, and some of the tail risks we were facing at the end of last year have receded ...

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Aussie vulnerable to commodity prices

[SYDNEY] The Australian dollar was sidelined in quiet trading on Monday after failing to hold above chart resistance and looked vulnerable to declining iron ore prices. Undermining the Aussie was Commodity Futures Trading Commission data showing speculators had further reduced their long Aussie positions for the week to May 23 to be a net long 2,635 contracts from 6,344 the week before. The Aussie has shed 3 US cents since March, partly ...

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