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US Personal Spending Increased 0.4% in June from May

US Personal Spending Increased 0.4% in June from May

🕔August 2, 2016

Personal spending in the US increased 0.4 percent in June from May 2016, the same pace as in the previous month. Economists surveyed by The Wall Street Journal had expected personal spending to rise 0.3% in June. Income was projected to increase at the same rate.…

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AUD/USD: Rebounded after expected rate cut caused a temporary dip

AUD/USD: Rebounded after expected rate cut caused a temporary dip

🕔August 2, 2016

Fundamental brief overview

AUD/USD ended up falling across the board after the Reserve Bank of Australia (RBA)  decided to lower the cash rate by 25bps to a fresh record low of 1.5%, which will be effective from 3rd August 2016. However, the drop was temporary and the price is starting to rebound up.…

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EU Economy not doing much to strengthen banking sector

EU Economy not doing much to strengthen banking sector
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🕔August 2, 2016

From the latest round of stress tests, the banking sector still shows that the EU economy is not doing much to strengthen the banking sector, a major pillar that needs to be looked at if the faltering economy is to find the rail again.…

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Japanese Authorities Embark on 4.6 Trillion Yen Stimulus

Japanese Authorities Embark on 4.6 Trillion Yen Stimulus

🕔August 2, 2016

The Japanese Prime Minister Shinzo Abe has strategically positioned the country for a global shift away from austerity measures and back on track for a lighter fiscal policy by launching the new 4.6 trillion yen ($45 Billion) stimulus which is meant to strengthen the now struggling Japanese economy.…

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Australia Cuts Interest Rate to Fresh Record Low of 1.5%

Australia Cuts Interest Rate to Fresh Record Low of 1.5%
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🕔August 2, 2016

During the meeting held on August 2nd, the Reserve Bank of Australia decided to lower the cash rate by 25bps to a fresh record low of 1.5%, which will be effective from 3rd August 2016. While highlighting that inflation in Australia to be quite low for some time, policymakers judged prospects for sustainable growth in the economy would be improved by easing monetary policy.

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The CAD Takes a Dive

The CAD Takes a Dive

🕔August 1, 2016

The Canadian dollar has more recently been hit by wave after wave of turbulence mostly arising from the volatility surrounding oil prices. The Canadian dollar last week reached its least in four months against the US dollar, a significant reason for this fall is the slump in crude oil price.…

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Crude Oil Slumps as Demand Overshadows Supply

Crude Oil Slumps as Demand Overshadows Supply

🕔August 1, 2016

  • Matt Smith predicts again
  • Oil Storages are reportedly brimming with supplies

Crude oil has returned under $40 per barrel after its worst month in this year. The US grade of crude oil used to benchmark oil prices, the West Texas Intermediate crude oil futures fell by 16% in July, as the inventories remain unreasonably high.…

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US ISM Manufacturing PMI data shows slower activity growth in July

US ISM Manufacturing PMI data shows slower activity growth in July
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🕔August 1, 2016

The US ISM Manufacturing PMI came in at 52.6 in July 2016, down 0.6 p.p. from 53.2 in June. The figure came in below market expectations, but was pointing to the fifth consecutive month of growth in factory activity as 12 of our 18 industries reported an increase in new orders and 9 of our 18 industries reported a rise in production.…

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The USD Stalls for Fundamental Releases

The USD Stalls for Fundamental Releases

🕔August 1, 2016

  • USD still in recovery
  • GBPUSD share the same plight

The Dow Jones FXCM USD Index shows the USD opening the new month with a slump as it entered into a near-term support range that was triggered by Friday’s GDP release, the GDP caused the index to break another support level.…

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GBP/USD: Regaining back momentum after manufacturing data dropped

GBP/USD: Regaining back momentum after manufacturing data dropped
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🕔August 1, 2016

Fundamental brief overview

U.K. manufacturing PMI disappoints further, causing a temporary fall in GBP/USD. The seasonally adjusted Markit/CIPS PMI in the United Kingdom fell to 48.2 in July 2016 from 52.4 in June and below the earlier flash estimate of 49.1.…

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