TAG Forex News Round Up

FED NY: Statement from President Williams

June 18, 2018 I am pleased to be starting my tenure today as president and CEO of the Federal Reserve Bank of New York. As someone who has dedicated his career to public service, I can think of no better place from where to continue to support the nation’s economic well-being. The New York Fed…

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Canada: Monthly Survey of Manufacturing, April 2018

Manufacturing sales fell 1.3% to $56.2 billion in April, following two consecutive monthly increases. Sales were down in 10 of 21 industries, representing 49.6% of the manufacturing sector. Sales in the petroleum and coal products and transportation equipment industries accounted for much of the decrease in April. Excluding these two industries, manufacturing sales rose 0.4%.…

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US Business Inventories Rebound in April

U.S. business inventories rebounded in April, but a slight downward revision to retail stocks excluding motor vehicles suggested inventory investment’s contribution to second-quarter economic growth could be modest. The Commerce Department said on Thursday business inventories increased 0.3 percent after slipping 0.1 percent in March. Business inventories were previously reported to have been unchanged in…

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India and China Looking to Diversify Away from OPEC Oil

Two of Asia’s largest crude buyers are considering teaming up to buy U.S. supplies and counter OPEC’s dominance in the world’s biggest oil market. India and China are discussing ways to boost imports of U.S. crude to Asia, a move aimed at reducing their dependence on cargoes from members of the Organization of Petroleum Exporting…

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EUR Falls After Dovish European Central Bank Rhetoric

The euro fell sharply after the European Central Bank (ECB) outlined its exit from quantitative easing (QE), but also claimed interest rates won’t likely budge for more than a year. Sitting at around 1.1818 versus the dollar before the announcement, the euro fell to 1.1681 during Draghi’s subsequent press conference, shipping around 0.9 percent in…

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US Retail Sales Beat Expectations in May

U.S. retail sales increased more than expected in May as consumers bought motor vehicles and a range of other goods even as they paid more for gasoline, the latest indication of an acceleration in economic growth in the second quarter. The Commerce Department said on Thursday retail sales jumped 0.8 percent last month, the biggest…

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