TAG Forex News Round Up

Oil stockpiles weigh on sentiment

Oil is poised for a second weekly drop after a larger-than-expected gain in American crude stockpiles eclipsed tensions between the U.S. and Saudi Arabia over the disappearance of a prominent critic of the kingdom. Futures in New York headed for a 3.4 percent loss this week as government data showed U.S. inventories grew by more…

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Oil prices headed for a weekly loss

SINGAPORE — Oil prices nudged higher on Friday on signs of surging demand in China, the world’s second-biggest oil user, though prices are set to fall for a second week amid concerns of the ongoing Sino-U.S. trade war is limiting overall economic activity. Brent crude oil futures were trading at $79.51 per barrel at 0521…

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ADP Canada: Employment increased in September

Employment in Canada increased by 28,800 jobs from August to September according to the September ADP® Canada National Employment Report. Broadly distributed to the public each month, free of charge, the ADP Canada National Employment Report is produced by the ADP Research Institute®. The report, which is derived from actual ADP payroll data, measures the…

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U.S. Treasury said to release currency policy report today

The U.S. Treasury Department is poised to release its much-awaited foreign-exchange policy report to Congress on Wednesday afternoon, according to an administration official. The semi-annual review of currency regimes of the U.S.’s 12 major trade partners and Switzerland will be released on Treasury’s website late in the day in Washington, the official said, declining to…

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Canada: Monthly Survey of Manufacturing, August 2018

Manufacturing sales fell 0.4% to $58.6 billion in August, following three consecutive monthly increases. The decline was mainly due to lower motor vehicle sales. Excluding this industry, manufacturing sales rose 0.4% in August. After taking price changes into account, the volume of sales in the manufacturing sector edged down 0.3% in August. Motor vehicle industry…

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U.S. Housing Starts Fell in September Amid Hurricane Florence

U.S. new-home construction fell in September on a decline in the South that may reflect disruptions from Hurricane Florence, government figures showed Wednesday. Highlights of Housing Starts (September) Residential starts dropped 5.3% to 1.201m annualized rate (est. 1.21m) after downwardly revised 1.268m pace in prior month Multifamily home starts fell 15.2%; single-family declined 0.9% Permits,…

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Saudi 5-year CDS jump to 11-month high

The cost of insuring exposure to Saudi Arabia’s sovereign debt jumped to the highest level in 11 months on Monday after the kingdom faced increasing international pressure over missing journalist Jamal Khashoggi. Saudi Arabia’s 5-year credit default swaps rose to 100 basis points after closing at 89 basis points on Friday, according to data from…

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Oil Prices Rise but supply remains in foucs

Oil futures rose Friday as global investors assessed the next leg for volatile stock markets, but signs of rising crude supplies contributed to an overall weekly loss of roughly 4%. November West Texas Intermediate crude CLX8, +0.41% rose 41 cents, or 0.6%, at $71.38 a barrel on the New York Mercantile Exchange. It was poised for a weekly…

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