GBP/USD – Pound Dips After Bumpy Brexit Talks

The British pound has posted losses in the Thursday session. In North American trade, the pair is trading at 1.2884, down 0.31% on the day. On the release front, there are no British events on the schedule. In the US, unemployment claims edged up to 236 thousand, just below the forecast of 237 thousand. Personal Spending […]

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US Consumer Spending Rose Less than Expected in July

U.S. consumer spending rose slightly less than expected in July and annual inflation increased at its slowest pace since late 2015, which could diminish expectations of an interest rate increase in December. Inflation remains stubbornly low even as the labor market is near full employment, a conundrum for the Federal Reserve. Other data on Thursday […]

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EU Chief Brexit Negotiator Laments Lack of Progress

The European Union’s chief Brexit negotiator has lamented a lack of developments in the third round of Brexit negotiations, saying that no “decisive progress” has been made on any principal subjects. Michel Barnier said Thursday that the three-day talks in Brussels with his British counterpart David Davis, and their respective delegations, had secured “useful clarification […]

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EU Inflation Rose 1.5% in August

Euro zone inflation rose to 1.5 percent year-on-year in August, narrowly beating analyst expectations and edging slightly closer to the European Central Bank’s (ECB) target, according to flash estimates released by Eurostat on Thursday. The European Union’s statistics office projected consumer prices in the euro zone would reach its highest level in four months in […]

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Japan’s Housing Starts Decline in July

Japan’s housing starts declined more than expected in July, data from the Ministry of Land, Infrastructure, Transport and Tourism revealed Thursday. Housing starts decreased 2.3 percent year-on-year in July, in contrast to a 1.7 percent rise in June. This was also bigger than the expected drop of 0.2 percent. Annualized housing starts declined to 974,000 […]

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Canadian Economy Surprises with Strong GDP Growth in 2Q

Canada’s economy unexpectedly accelerated at a 4.5 percent pace in the second quarter — tops among Group of Seven countries — led by the biggest binge in household spending since before the 2008-2009 global recession. Annualized growth was the fastest in six years and topped the 3.7 percent average forecast from economists. The expansion surpassed […]

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Trump Taps Crude Oil Stockpile to Offset Hurricane Impact

The Trump administration has tapped an emergency stockpile of crude oil in response to the major refinery outages in the U.S. Gulf Coast caused by Hurricane Harvey. Energy Secretary Rick Perry announced Thursday that he authorized 500,000 barrels of crude oil to be drawn down from the Strategic Petroleum Reserve. The reserve is made up […]

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