Tag: Forex News Round Up

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 […]

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 […]

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 […]

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 […]

US Import Prices Rose in May

U.S. import prices increased solidly in May, boosted by a surge in the cost of petroleum products and food, but underlying imported inflation remained benign. The Labor Department said on Thursday import prices increased 0.6 percent last month. Data for April was revised to show import prices rising 0.6 percent instead of the previously reported […]

ECB to End QE Program in December

The European Central Bank (ECB) has confirmed it will end a huge programme to stimulate the eurozone economy in December. The ECB will stop its bond-buying scheme, worth €30bn a month, as long as economic data remains favourable. The move is a major step towards dismantling the policies brought in to stabilise the eurozone in […]

ECB – Monetary policy summary June 2018

Main refinancing rate 0.00% Marginal lending facility 0.25% Deposit facility -0.40% Monthly asset purchases €30 billion QE to end by the end of December Asset purchases expected to be tapered to €15 billion from Oct to Dec Decision on asset purchases still depends on incoming data ECB to keep rates unchanged at least until summer […]

Greenspan Disagrees with Trump on Trade

Former Federal Reserve Chairman Alan Greenspan sharply disputed the notion the U.S. was being ripped off by other countries because of its trade deficit. The former central bank chief told CNBC that President Donald Trump has the situation “reversed” as it pertains to global trade issues. Asked if he thought the country was in a […]

Trump Blames OPEC for High Oil Prices

U.S. President Donald Trump and Iran exchanged sharp words over oil prices on Wednesday, with Trump blaming OPEC for high oil prices and Tehran accusing him of stoking volatility after he withdrew last month from a global nuclear arms deal with Iran. Trump sparked the latest back-and-forth when he renewed his attack on OPEC in […]

Gasoline Prices Drove US PPI Higher in May

U.S. producer prices increased more than expected in May, leading to the biggest annual gain in nearly 6-1/2 years, but underlying producer inflation remained moderate. The Labor Department said on Wednesday its producer price index for final demand rose 0.5 percent last month, boosted by a surge in gasoline prices and continued gains in the […]