Bank Of Canada Warns On NAFTA But Raises Rates

The Bank of Canada on Wednesday raised its key interest rate by 0.25 basis points to 1.25%, as expected.

However, the BoC sounded its deepening concerns that a breakdown in trade relations with the U.S. and Mexico could de-rail the Canadian economy…

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EUR Traders Remain Optimistic

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Crypto News Update

The bloodbath in the cryptocurrency market extended into Wednesday with severe declines in both prices and market capitalization. Going with the flow, the BitConnect coin tanked more than 90 percent as the company said it’s shutting down its platform …

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Oil Traders Fixing Profits

Today, oil pulled away from early highs. Experts link the fall of oil prices with profit fixing. Brent Crude Oil is trading at $69 a barrel. At the same time, experts note that the OPEC deal is effectively carried out in line with expectations. Light Sweet Oil is also trading under pressure, staying around $63.60 a barrel. Analysts say that there is a sound reason […]

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Daily Forex News and Analysis — January 17th 2018

US stocks traded lower after the close on Tuesday, as losses in the Oil & Gas, Basic Materials and Industrials sectors led shares lower. The Dow Jones fell by 0.04%, the S&P 500 by 0.35%, and the NASDAQ lost 0.51% from its value. The US dollar traded higher against a basket of major currencies on Tuesday supported by euro weakness amid a report suggesting that the European Central Bank was unlikely to announce plans to unwind […]

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The ‘Brexit effect’ on UK domestic stocks

This is shown by the performance of two stock market indices: the Bats Brexit High 50, which comprises more UK-focused companies in the FTSE 100, and the Bats Brexit Low 50, which comprises UK companies that mostly operate on a more global scale. The d…

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Dollar Little Changed After U.S. Industrial Production

The U.S. Fed’s industrial production for December has been released at 9.15 am ET Wednesday. Following the data, the greenback changed little against its major rivals.

The greenback was trading at 1.2219 against the euro, 110.82 against the yen, 0.96…

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Burberry and Pearson falls hit FTSE and Train

At the top of the FTSE 100 sat Rolls-Royce (RR), up 6.4% at 907.8p after announcing it was considering the sale of its commercial marine business as part of a restructure of the aircraft engine maker. On the FTSE 250, Provident Financial (PFG) slumped …

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Burberry and Pearson falls hit FTSE and Train

It was joined at the bottom of the FTSE 100 by Pearson (PSON), down 6.4% at 672.2p as the educational publisher continues to feel the pressure in its … At the top of the FTSE 100 sat Rolls-Royce (RR), up 6.4% at 907.8p after announcing it was conside…

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Dollar Mixed Ahead Of U.S. Industrial Production

The U.S. Fed’s industrial production for December will be released at 9.15 am ET Wednesday. The economic analysts are looking for consensus of 0.4 percent, compared to 0.2 percent in the prior month.

Ahead of the data, the greenback traded mixed aga…

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Will the Bank of Canada Trigger Another Leg of USD/CAD Weakness?

Later this morning brings the first Bank of Canada rate decision of the year, and there is a very legitimate chance of a rate hike. But – what will the BoC say about the rest of the year, and will this be enough to evoke another leg of weakness in the …

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Gold Pauses For Beige Book, Fed Speakers

Gold futures were flat Wednesday morning ahead of the Federal Reserve’s Beige Book, which may offer some clues about the next interest rate hike.

Beige Book, produced roughly two weeks before the monetary policy meetings of the Federal Open Market Co…

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FTSE 100 still lower, but Wall Street to open higher

London’s FTSE 100 was still somewhat in the doldrums, albeit the benchmark could find a little support from an apparent improvement in sentiment. Changing hands at 7,738, the index was down 17 points or 0.22%. “Equities have regained poise after yesterday’s bout of weakness, although sentiment …

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Two Blockchain ETFs Are Hitting The Market

The investing world will be presented with two new products on Wednesday that try to cash in on the blockchain technology that underlies Bitcoin.

Reality Shares Inc. and Amplify Investments LLC are launching their Exchange-Traded Funds, or ETFs, focu…

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Pound Higher After BoE Saunders Remarks

The pound was higher against its major counterparts in the European session on Wednesday, after the Bank of England policy maker Michael Saunders said that the U.K. labour market would possibly tighten further this year, lifting pay growth and trigger…

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GKN rejects £7bn hostile takeover bid by Melrose

The first hostile takeover of a FTSE 100 company in a decade was under way yesterday after Melrose, the acquisitive London-quoted £4.5 billion conglomerate, formally tabled a £7.4 billion bid for GKN, claiming that it was about time someone shook up the underperforming automotive and aerospace …

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Crude Oil Levels Off As Dollar Strengthens

Crude oil futures slipped for a second day in a row Wednesday morning as the dollar steadied versus major rivals.

The dollar’s recent drubbing may have been overdone and the greenback could bounce back sharply if the Federal Reserve signals rate hike…

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FTSE 100 watch: Footsie dips as corporate updates dominate agenda

Pearson (LON:PSON) is also among today’s biggest fallers despite flagging full-year profits at the top end of its guidance, with investors instead focusing on the group’s continued weak performance in the US. Pearson’s shares are 5.18 percent worse off at 681.20p. The FTSE 100 was 0.15 percent down …

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BoE's Saunders Says Pay Growth To Rise This Year

The tightening labor market and rising recruitment difficulties is set to lift pay growth this year a bit above the recent subdued trends, Bank of England policymaker Michael Saunders said Wednesday.

According to Saunders, the labor market is likely…

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Bitcoin dips below $10,000

The crypto-currency has nearly halved in value since its peak in December.

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T. Boone Pickens Finds Cryptocurrencies A Real Turnoff

American oil tycoon and financier T. Boone Pickens is not at all enthusiastic about cryptocurrencies. The reason is the term itself.

“At 89, anything with the word “crypt” in it is a real turnoff for me,” the 89-year old famed Texas corporate raider …

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