The US dollar holds firmly up, giving up some of its recent gains ahead of the close as speculative interest booked some profits ahead of the Good Friday holiday.Economic Data The US Commerce Department on Thursday said that retail sales rose a seasonally adjusted 0.5% in March from a month …
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Cleveland Fed President and FOMC member Loretta Mester said on Thursday that the Fed aims to reduce policy accommodation at the pace necessary to control inflation whilst also sustaining economic activity.Mester added that the Fed aims to bring demand into better balance with supply, whilst also sustaining the health of …
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At 1.3069, the GBP/USD pair is attempting to correct the London sell-off that followed the European Central Bank announcements that sank the Euro and enabled the embattled US dollar to bounce back. The pound was caught up in the flows and extended a fall from a high of 1.3146 to …
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The GBP/USD pair has dipped back under 1.3100 as it weakens in tandem with the euro post-dovish ECB policy announcement. The pair remains at risk of falling to sub-1.3000 levels amid the risk of more BoE/Fed policy divergence.Though the currency hasn’t been weighed as badly as its euro counterpart, the …
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The USD/CAD pair staged a goodish intraday bounce from over a one-week low set earlier this Thursday. Weaker oil prices undermined the CAD and extended support amid resurgent USD demand. Bulls seemed rather unaffected by the disappointing release of the US Retail Sales figures.The USD/CAD pair recovered nearly 70 pips …
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Gold prices fell on Thursday but were still on track to record a weekly increase, supported by the demand for safe havens due to the Ukraine crisis and mounting price pressures. By 1100 GMT, gold fell in spot transactions 0.2 percent to $ 1973.41 an ounce, after rising for six …
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The Central Bank of the Republic of Turkey left its benchmark interest rate, the one-week repo rate, unchanged at 14.00% on Thursday, as market participants had been expecting. The CBRT’s decision to hold interest rates comes despite the headline rate of Consumer Price (CPI) Inflation in Turkey surging above 60% …
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Inflation, central banks and the Eastern European crisis are still impacting the market’s mood. Economic DataThe US reported that the March Consumer Price Index jumped to 11.2% YoY, both above anticipated while the UK published the March Consumer Price Index, which jumped to a three-decade high of 7% The annual …
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The US dollar index (DXY) has witnessed a sheer downside after recording a fresh three-year high at 100.52 on Wednesday. The DXY ended its nine-day winning streak on Wednesday after investors shrugged off the hangover of the higher US Consumer Price Index (CPI). The US Bureau of Labour Statistics reported …
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Wall Street Ends Higher, Breaking a 3-Day Losing Streak Wall Street rallied to end higher on Wednesday, powered by a recovery in interest-sensitive growth stocks as investors digested hot inflation data and a mixed bag of quarterly results. Stocks closed higher on Wall Street as investors reviewed the latest round …
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