Category Archives: Quick Forex

Canadian Dollar Higher After Strong Retail Sales

By | September 21, 2018

The Canadian dollar enhanced versus its major equivalents in the European session on Friday, as country’s retail sales grew in July following a fall last month, driven by greater sales at food and drink shops and gas station.

Data from Data Canada showed that retail sales rose 0.3 percent on a seasonally changed regular monthly basis.

The rate matched expectations. It dropped 0.2 percent on month in June.

Core retail sales increased 0.9 percent, beating expectations of 0.6 percent.

This follows a 0.1 percent slide last month.

Separate data revealed that consumer inflation edged up 0.1 percent on a seasonally adjusted regular monthly basis in August.

This follows a 0.5 percent gain in July and contradicted a 0.1 percent fall anticipated by economists.

Core CPI increased 0.1 percent in August, from a revised 0.5 percent boost seen in July.

The currency held stable versus its significant equivalents in the Asian session, with the exception of the yen.

The loonie advanced to 1.5155 against the euro, from a 3-day low of 1.5226 hit at 4:45 am ET. The loonie is poised to discover resistance around the 1.49 mark.

Study information from IHS Markit revealed that Eurozone private sector grew at the second-weakest rate given that late-2016 on subdued manufacturing activity growth in September.

The composite output index fell to 54.2 in September from 54.5 in August. Ball game was forecast to stay unchanged at 54.5.

The loonie, having actually dropped to a 2-day low of 0.9423 versus the aussie at 4:45 am ET, reversed instructions and climbed to 0.9384. On the benefit, 0.92 is possibly seen as the next resistance level for the loonie.

The loonie spiked up to 1.2886 versus the greenback, coming off from a low of 1.2927 hit at 8:15 am ET. The loonie is seen discovering resistance around the 1.27 level.

The loonie increased back to 87.43 against the yen, heading to pierce a 7-1/2-month peak of 87.45 seen at 3:00 am ET. Next crucial resistance for the loonie is seen around the 89.00 area.

Figures from the Ministry of Economy, Trade and Industry revealed that Japan’s all market activity remained stable in July.

The all market activity index remained flat on month, following a 0.9 percent fall in June. Economic experts had forecast a limited 0.1 percent increase.

Looking ahead, Markit’s U.S. production PMI for September is set for release soon.

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Iceland Wage Development Slows In August

By | September 21, 2018

Iceland’s wage development alleviated in August after speeding up in the previous month, figures from Statistics Iceland showed on Friday.

The wage cost index climbed 6.0 percent year-over-year in August, following a 6.3 percent increase in the previous month. In June, the rate of increase was 5.9 percent.

On a month-to-month basis, the wage index edged down 0.1 percent from July, when it gained by 0.4 percent.

The genuine wage index grew 3.3 percent yearly in August, while it dropped 0.3 percent from the preceding month.

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Amended: Lithuania Industrial Production Climbs In August

By | September 21, 2018

Corrects Month

Lithuania’s industrial production broadened in August, driven by making sector, figures from the Department of Stats showed on Friday.

Commercial production climbed up by a seasonal and calendar-adjusted 1.4 percent month-on-month in August. The increase was mainly led by a 1.8 percent development in the production output.

On the other hand, the mining and quarrying output fell 1.9 percent in August.

On an unadjusted basis, the commercial production signed up a growth of 5.1 percent in August.

Year-on-year, the industrial production advanced by an adjusted 3.0 percent. On an unadjusted basis, production climbed up 3.5 percent.

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UK Deficit Spending Expands As Govt Spending Rises

By | September 21, 2018

The UK budget deficit increased in August on greater expense amid controlled income development, data from the Office for National Stats revealed Friday.

Public sector net loaning, omitting public sector banks, increased by GBP 2.4 billion from last year to GBP 6.8 billion in August. Borrowing was anticipated to fall to GBP 3.4 billion.

This was the biggest August borrowing for 2 years and the first annual increase for August in 3 years.

Present invoices climbed 1.6 percent to GBP 55.6 billion, while total expenditure rose 6.9 percent to GBP 60.4 billion.

At the end of August, public sector net debt excluding public sector banks amounted to GBP 1.78 trillion or 84.3 percent of gross domestic product. Financial obligation increased by GBP 15.9 billion from a year earlier.

Financial obligation, leaving out Bank of England, decreased by GBP 28.7 billion to GBP 1.58 trillion at the end of August.

In the present monetary year-to-date duration, PSNB excluding interventions was GBP 17.8 billion, which was GBP 7.8 billion less than in the exact same period in 2017. This was the lowest year-to-date borrowing for 16 years.

In spite of the higher than anticipated shortfall, the government is on track to undershoot the GBP 37 billion target set by the Workplace for Budget Duty.

The fiscal watchdog is likely to revise its projection down in November, giving the Chancellor space to provide the promised boost in health expenditure without having to increase taxes or make cuts somewhere else, Andrew Wishart, an economist at Capital Economics, said.

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Loonie Climbs After Canada Retail Sales, CPI

By | September 21, 2018

At 8:30 am ET Friday, Canada retail sales for July and consumer inflation for August have been released. After these data, the loonie advanced against its major counterparts.

The loonie was trading at 87.27 against the yen, 0.9394 against the aussie, 1.2903 against the greenback and 1.5174 against the euro around 8:31 am ET.

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