Forex News Round Up

Canada is the largest energy trading partner of the United States, based on the combined value of energy exports and imports. Although the value of bilateral energy trade with Canada has varied over the past decade, driven primarily by changes in the prices of oil and natural gas, the overall…

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Italian government bond yields came off 14-month highs on Tuesday as the market paused after six days of heavy selling on concerns over the high-spending policies mooted by a potential coalition government in the euro zone’s third-largest economy. The likelihood of a new Italian government being formed by the 5-Star…

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China’s Finance Ministry said that it will cut import tariffs on some vehicles to 15 percent, down from as much as 25 percent. The announcement Tuesday also said that tariffs on some automotive parts would fall to 6 percent. The cuts will be effective from July 1. The move signifies…

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Wholesale sales rose 1.1% to $62.8 billion in March, more than offsetting the decline in February. The motor vehicle and parts subsector contributed the most to the gain. Excluding this subsector, wholesale sales rose 0.2%. Sales were up in four of seven subsectors in March. In volume terms, wholesale sales…

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Talks between the U.S., Canada and Mexico on revamping the North American Free Trade Agreement are continuing but it appears unlikely there’s enough time for the U.S. Congress to vote on a deal before the end of the year, analysts say.“I don’t think they’re going to get a text to…

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Greece and its foreign creditors agreed that the country will meet its fiscal targets in the coming years and there will be no fiscal gap in 2018 and 2019, Prime Minister Alexis Tsipras told his cabinet on Monday.Athens and representatives from its European and International Monetary Fund creditors reached an…

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Treasury Secretary Steven Mnuchin put a positive face on the state of U.S.-China trade negotiations, saying Monday the talks so far already have yielded tangible benefits.”I think we’ve made very meaningful progress,” he told CNBC’s “Squawk Box.” “Now it’s up to both of us to make sure that we can…

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The U.S. is almost certainly preparing to impose targeted crude sanctions against Venezuela, analysts told CNBC on Monday, in a move likely to constitute a “devastating” blow for the oil-dependent state.Venezuelan President Nicolas Maduro won re-election to another six-year term on Sunday, despite widespread anger over the South American country’s…

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The Italian right-wing Lega party denied reports that it’s seeking a 250 billion euro ($ 296.16 billion) debt write-off if it becomes part of a power-sharing deal with the anti-establishment Five Star Movement (M5S).Lega and the left-wing M5S have been locked in negotiations for more than two months, trying to…

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Commercial oil stocks in industrialized economies have fallen to their lowest level in three years, the International Energy Agency said Wednesday, in the latest sign that the global supply glut has been mopped up and the market rebalanced.In its closely watched monthly oil market report, the IEA said commercial oil…

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