Dollar Drops Against Euro After Comments From Mario Draghi

The dollar is losing ground against its major European rivals Tuesday afternoon, but is up slightly against the Japanese Yen. On a light day for economic news, central banks have been in focus today. Chair Janet Yellen discussed global economic issues in London, but demurred on whether another rate hike is imminent. Meanwhile, Vice Chair ...

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South Korea Consumer Confidence Strengthens Further

South Korea’s consumer confidence improved for the fifth successive month in June, survey data from Bank of Korea showed Tuesday. The consumer sentiment climbed to 111.1 in June fro 108.0 in the preceding month. Moreover, the latest reading was the highest since January 2011. The survey was conduced among 2,029 ...

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Yen Falls Against Majors

The Japanese yen weakened against other major currencies in the Asian session on Tuesday. The yen fell to nearly a 5-week low of 112.08 against the U.S. dollar and nearly a 3-week low of 142.56 against the pound, from yesterday’s closing quotes of 111.84 and 142.30, respectively. Against the euro ...

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Australian Dollar Rises Against Majors

The Australian dollar strengthened against other major currencies in the Asian session on Tuesday. The Australian dollar rose to 1-week highs of 0.7604 against the U.S. dollar and 85.07 against the yen, from yesterday’s closing quotes of 0.7584 and 84.84, respectively. Against the euro and the Canadian dollar, the aussie ...

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IMF Urges Irish Govt To Focus On Rebuilding Fiscal Buffers

The International Monetary Fund recommended the Irish government to focus on rebuilding fiscal buffers, strengthening economic resilience and fostering sustainable and inclusive growth. Concluding the Article IV consultation, the executive board of the IMF said Ireland should adopt growth-friendly fiscal consolidation to further reduce the public debt-to-GDP ratio and enhance ...

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China Industrial Profits Rise At Faster Rate In May

China’s industrial profit growth accelerated in May from a year ago, figures from the National Bureau of Statistics showed Tuesday. Industrial profits grew at a faster pace of 16.7 percent year-over-year in May, following a 14.0 percent spike in April. During the first five months of 2017, total profits of ...

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Li Says China Capable Of Achieving Growth Target

Chinese Premier Li Keqiang said the economy is capable of achieving major growth target this year. The economy maintained a steady growth in the second quarter, he said at the World Economic Forum’s Annual Meeting of the New Champions 2017. The government targets about 6.5 percent economic growth this year. ...

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