Forex Daily News

14th February 2019

Canada: Manufacturing once again acting as a slight drag on growth – RBC CM

Data released today showed that manufacturing sales dropped 1.4% in December in Canada. Josh Nye, Senior Economist at RBC Capital Markets, mentioned they don’t think the manufacturing component of GDP will be as weak as today’s number indicates.

Key Quotes: 

“The final quarter of last year was a tough one for Canada’s manufacturing sector. Sales volumes were down an annualized 4%, retracing much…

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FTSE bulls gain a technical edge, but plenty of fundamental risk to stay wary of

Initially supported by positive data out of China which helped to underpin risk sentiment, the pound took over the market's attention, helping to support the top flight FTSE 100 index. 
The index was sent to the highest level since 10th October 2018. However, the index ended higher by just over six points to close at 7,197.01 on mixed price action in cable. 

US…

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US retail sales figures are off-the-charts bad – ING

"There’s no doubt about it, December’s US retail sales figures are off-the-charts bad," notes ING's developed markets economic James Smith and adds: "But there are a few reasons to treat these numbers with caution, as we think the strong jobs market should support a rebound over coming months."

Key quotes

"We’ll have to wait and see for the next few reports to…

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Gold rebounds to fresh daily highs above $1310 as USD sell-off picks up steam

US Dollar Index returns to 97 area.
J.P. Morgan cuts its forecasts for 2019 and 2020 federal funds rate.
Wall Street pares early gains on hopes of dovish Fed.

The XAU/USD pair continues to move up and down near the $1310 and struggles to make a decisive move in either direction. After slumping toward $1302 earlier in the day, the pair took advantage of…

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