Forex News Round Up

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…

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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…

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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…

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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…

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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,…

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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…

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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…

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A wave of sanctions on Iran snapped back into place this week, giving commodity bulls a reason to believe higher oil prices are in the offing. While commodity traders are focused on the impact of Iranian oil coming out of circulation, they are missing a greater catalyst that could disrupt…

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The U.S. economy is strong enough to warrant further interest rate increases by the Federal Reserve, Richmond Fed President Thomas Barkin said on Wednesday. In a speech on the U.S. economy, Barkin argued that the Fed’s benchmark interest rate was below normal levels, a suggestion that Fed policy was still…

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China is slapping additional tariffs of 25 percent on $16 billion worth of U.S. imports from fuel and steel products to autos and medical equipment, the Chinese commerce ministry said, as the world’s largest economies escalated their trade dispute. The tariffs will be activated on Aug. 23, the ministry said,…

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