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Tag Archives: forex news round up

Another Day, Another Referendum. Next Up, Italy

Two of Italy’s wealthiest regions are poised to hold a referendum on greater autonomy Sunday, marking the latest bids by European regions to wrestle more power away from the establishment.Lombardy and Veneto, two northern regions home to about a quarter of Italy’s population, are pushing for more control over their finances and administrations.Milan and Venice, the respective capitals ...

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UK and EU Not Even Half Way There on Brexit Bill

French President Emmanuel Macron said on Friday that work on settling Britain’s financial obligations to the EU when it leaves was not even halfway done.He said more than half the work remained to be completed on the crucial issue of Britain’s exit bill and that discussions could not move to the next phase on the future relationship until the three divorce issues of citizens’ rights, the Irish border and financial settlement have been settled.“A...

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US Tech Companies Step up NAFTA Lobbying

Tech companies such as Amazon, Microsoft and Cisco are spending more on lobbyists to make their case about the North American Free Trade Agreement, as negotiations about the future of that trade deal heat up. Trade negotiators have said that they will schedule talks on revamping NAFTA into next year. The tech industry has a clear interest in the trade pact, given its role in foreign trade and in supply chains across North America. In 2016, U....

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Dow Jones Goes Above 23,000 on IBM Surge

The Dow Jones Industrial Average rallied above the 23,000-mark on Wednesday, propelled by IBM’s 9 percent surge after the computing giant hinted a return to revenue growth. Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., October 13, 2017. REUTERS/Brendan McDermid IBM shares (IBM.N) were on course to record their biggest percentage gain in more than eight years and accounted for nearly 95 ...

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US Again Declines to Label China as a Currency Manipulator

The United States on Tuesday declined to name China as a currency manipulator although it remained critical of the Chinese government’s economic policies ahead of a planned visit to Beijing by President Donald Trump. The semi-annual U.S. Treasury currency report said no countries deserved the currency manipulator label, but it kept China on a currency “monitoring list” despite a fall in China’s global current account surplus since 2016. China’s currency, the renminbi or yuan...

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OPEC to be Discussing 9 Month Extension to Oil Production Cut Deal

OPEC members are reportedly forming a consensus around extending their production cutting deal with other crude exporters by nine months, a move that would help to put a floor under oil prices. That would prolong the agreement among OPEC, Russia and other oil-producing nations to keep 1.8 million barrels a day off the market through the whole of next year. The exporters reached the deal last December and have...

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Subdued FX Asia

By Ambar Warrick Oct 18 (Reuters) – Asian currencies were subdued on Wednesday as investors waited for any clues on the outlook for China’s foreign exchange policy from a key Communist Party Congress. President Xi Jinping said in his opening speech to the twice-a-decade gathering early in the day that China will deepen market-oriented reforms of exchange rates and interest rates, reiterating an oft-heard government pledge. But as expected the keynote speech dealt...

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Catalonia Stands By Independence Vote

Catalonia refused on Tuesday to bow to the Spanish government’s demand that it renounce a symbolic declaration of independence, setting it on a political collision course with Madrid later this week.The Spanish government has threatened to put Catalonia, which accounts for a fifth of the economy, under direct central rule if its government does not abandon independence by Thursday.But Catalonia’s government rejected Prime Minister Mariano Rajoy’s deadline.“Giving in forms no part of...

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Asian currencies mostly higher

Reuters By Ambar Warrick Oct 16 (Reuters) – Most Asian currencies ticked up against the dollar on Monday, which softened after disappointing U.S. inflation data on Friday undercut the greenback. The dollar index was little changed, lacking momentum after having posted its first weekly fall last week as underlying inflation remained muted despite a jump in U.S. consumer prices.  Thailand’s baht edged up against the...

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Tax Reform and New Fed Chair intrigue ( Radio Interview)

Stephen Innes, Head of Trading in Asia-Pacific, OANDA shares his views with BFM Radio U.S. stocks ended at record highs last week as investors bet on another positive earnings season as shown by some corporates that released their numbers recently such as Bank of America and JP Morgan. Stephen shares his expectation on whether this earnings trend and momentum in the markets will...

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