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Tag Archives: market pulse

Dollar Higher on Tax Reform Hopes

US tax reform clears first hurdle The USD is firmer against major pairs after overcoming setbacks earlier in the week. Economic indicators have been scarce with political developments driving the currency. US President Donald Trump is closer to announcing his pick for leadership of the U.S. Federal Reserve and the US senate voted to pass the budget proposal clearing the way for tax reforms. The ...

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GBP/USD Steadies Ahead of UK Jobs Data

UK Data Likely to Highlight Tough Job Facing BoE Policy Makers European markets are poised to open a little higher on Wednesday, as we await the latest labour market data from the UK and speeches from ECB and Federal Reserve policy makers. The UK is a key focus for markets this week as traders try to determine whether or not the Bank of England...

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Topsy Turvy Tuesday?

Topsy Turvy Tuesday? Dealers have spent the last 24 hours digesting Friday’s CPI fallout while keeping an eye on geopolitical risk amidst the deluge of Fed chair speculative headlines. As for the dollar, there was nothing earth-shattering within these idiosyncratic storylines usurping any broader USD trend. All in all, it made for a somewhat sleepy Monday in G-10 It’s not wise getting too comfortable as...

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GBP/USD – Pound Edges Higher, Investors Eye US Consumer Inflation, Spending Data

The British pound has posted small gains in the Friday session. Currently, GBP/USD is trading at 1.3291, up 0.18% on the day. On the release front, there are no major British events on the schedule. In the US, we’ll get a look at CPI and retail sales, as well as UoM Consumer Sentiment. After three losing weekly sessions, the British pound appears to have reversed the trend, and is headed for considerable gains this week. Currently, GBP...

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EUR/USD – Euro Unchanged as German Final CPI Matches Forecast

The euro is unchanged in Friday trading. Currently, EUR/USD is trading at 1.1829, down 0.01% on the day. On the release front, German Final CPI came in at 0.1%, matching the forecast. Traders should be prepared for some movement from the pair in the North American session, as the US releases CPI and retail sales reports. The US will also release UoM Consumer Sentiment. The Federal Reserve minutes from the September meeting appeared to...

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USD/CAD Canadian Dollar Higher After Predictable Fed Minutes

The Canadian dollar appreciated after the release of the Federal Open Market Committee (FOMC) September meeting minutes. The U.S. Federal Reserve announced the details of its balance sheet reduction plans at the September meeting and voted unanimously to keep rates unchanged but the big question mark remained on the internal debate on inflation. There are mainly two camps at the US central bank. Those who...

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Gold Posts Slight Gains as Catalonia Crisis Continues

Gold prices continue to head higher this week, as the metal has posted considerable gains on Wednesday. In the North American session, the spot price for an ounce of gold is $1289.65, up 0.24% on the day. There are no major US releases on the schedule. On Thursday, the US releases PPI and unemployment claims. All eyes remain on Spain, after Catalan President Carles Puigdemont declared independence on Tuesday, but then qualified...

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Gold Rally Continues on Holiday Monday

After an uneventful week, gold has started the week with gains. In Monday’s North American trade, the spot price for an ounce of gold is $1280.61, up 0.37% on the day. There are no US releases today, and banks are closed for Columbus Day. Gold prices moved higher on Friday, as Nonfarm Employment Change shocked the markets by wiping out 33 thousand jobs in September, much weaker than the estimate of a gain...

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Gold Dips to $1300 as Greenback Improves, Markets Eye Yellen Speech

Gold has posted losses in on Tuesday, erasing most of the gains which marked the Monday session. In North American trade, the spot price for an ounce of gold is $1300.15, down 0.79% on the day. Gold prices faltered despite lukewarm US numbers on Tuesday, as the US dollar moved higher against the euro, yen and the British pound. CB Consumer Confidence dipped to 119.8, shy of the estimate of 119.9 points. On the housing front, New Home Sales ...

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USD/CAD Canadian Dollar Flat Ahead of Geopolitical Weekend Risk

The Canadian dollar was flat on Friday as the US dollar rally triggered by the hawkish economic projections published on Wednesday by the Fed were offset by rising risk concerns about North Korea. Canadian data was mixed on Friday putting in question a third rate hike in 2017. Canadian inflation underperformed in July rising by only 1.4 percent and retail sales rose by 0.4 percent but a decline in the volume of goods ...

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