TAG Forex News Round Up

Turkey must ensure independence of central bank

German Chancellor Angela Merkel urged Turkey on Monday to ensure the independence of its central bank as other senior officials said that Turkey’s economic woes were causing great concern. The Turkish lira has lost more than 40 percent against the dollar this year, largely due to worries about President Tayyip Erdogan’s influence over the economy,…

READ MORE 

Kremlin Calls US Sanctions Illegal

The Kremlin on Thursday said a new batch of sanctions on Moscow announced by the United States was illegal under international law and that Russia’s financial system was stable. Washington said on Wednesday it was imposing fresh sanctions on Russia by the end of August after determining that Moscow had used a nerve agent against…

READ MORE 

London Real Estate Losing Steam

The London real estate market is losing steam with sales struggling to complete. Tax changes, Brexit uncertainty, higher house prices and difficulties in getting a mortgage approved are making it increasingly hard for people to buy homes in the U.K. capital. Real estate companies have admitted that a slowdown in sales has affected their profits.…

READ MORE 

Global Trade Likely to Slow Down in Q3 Says WTO

Lower export orders and car sales are likely to slow world trade growth in the third quarter, the WTO said, as a global tariff crusade by U.S. President Donald Trump to protect American jobs begins to bite. As the World Trade Organization’s head warned that global trade was threatened, its quarterly outlook indicator – a…

READ MORE 

Canada: New Housing Price Index, June 2018

New home prices increased in June, marking the first upward movement since November 2017. New Housing Price Index, monthly change Nationally, new house prices edged up 0.1% in June, largely due to rising construction costs across the country. The cost of softwood lumber, which is widely used in residential construction, has been on the rise.…

READ MORE 

U.S Producer Price Indexes – July 2018

The Producer Price Index for final demand was unchanged in July, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices advanced 0.3 percent in June and 0.5 percent in May. (See table A.) On an unadjusted basis, the final demand index increased 3.3 percent for the 12 months ended in July.…

READ MORE 

U.S unemployment insurance weekly claims

In the week ending August 4, the advance figure for seasonally adjusted initial claims was 213,000, a decrease of 6,000 from the previous week’s revised level. The previous week’s level was revised up by 1,000 from 218,000 to 219,000. The 4-week moving average was 214,250, a decrease of 500 from the previous week’s revised average.…

READ MORE