Yen Declines as Japanese Flash Mfg. PMI Signals Further Economic Slowdown

The Japanese yen declined against the greenback yesterday following the report of worse than anticipated flash manufacturing PMI (purchasing managers’ index) data and indicated contraction of the sector. Notably, the flash manufacturing PMI data from the US was better than

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Russia Central Bank Maintains Benchmark Rate at 4.25% as Unemployment Soars to 8-yr High

The central bank of Russia maintained its benchmark interest rate at 4.25% Friday, freezing its monetary easing policy for the time being as inflation rises and the country stares at new sanctions. The central bank of Russia, however, hinted that

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US Retail Sales Growth Eases in August

In spite of ending the federal stimulus program that boosted consumer spending, the US retail sales rose in August, reflecting the fourth consecutive monthly increase, extending a rebound that has persisted for a longer duration that anticipated by several economists.

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Dollar Posts 2nd Straight Weekly Gain

The US dollar index inched down 0.1% to roughly 92.30 on Friday, but recorded a weekly gain of 0.6%, reflecting the first consecutive weekly gains since May. The greenback recorded a 28 month low of 92.144 on August 31, but

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Japan Core Machinery Orders Rebound 6.3% m-o-m in July

Japan’s machinery orders bounced back in July following a steep decline in the earlier month, a huge break for the Covid-19 afflicted economy but the forecast for capital outlay continued to be unclear due to volatile global business scenario. The

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Russian Ruble Falls to Near 5-Month Low

The Russian ruble lost nearly 1% to trade at about 76.12 against the greenback Monday, a level seen on April 21, pushed down by weak oil prices and geopolitical issues. The benchmark Brent crude fluctuated around 2-month low of $41.71

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Pound Posts Steep Decline on Brexit Concerns & Covid-19 Resurgence

The British pound traded at about $1.33 Friday, reflecting a decline of 0.5% from previous week, the largest since mid-June. The decline happened against the backdrop of worries about absence of any headway in Brexit discussions. Notably, EU’s negotiator Michel

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Australia Succumbs to Covid-19, Posting First Recession in Three Decades

Australia’s trade surplus declined to A$4.61 billion in July, from A$8.15 billion in the earlier month and lower than Consensus estimate of A$5.40 billion. It was the smallest trade surplus since pre-pandemic February, against the backdrop of extended effect of

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UK Manufacturing Output Grows at Quickest Rate in Six Years

The euro dollar declined against the pound following the release of lower-than-anticipated Spanish and German manufacturing PMI data. The increase in the Italy unemployment rate also contributed to the weakness of the euro. The pound’s rally was also aided by

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Canadian Dollar Hits 7-Month High as Economy Gallops 6.5% m-o-m in June

The loonie rallied against the greenback to hit a seven month high of $1.304 after the recent GDP data indicated that the country’s economy expanded by a historical high 6.5% in June, rebounding further from April’s record low level of

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