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South Korea Inflation Jumps To 1.9% In September

Consumer prices in South Korea were up 1.9 percent on year in September, Statistics Korea said on Friday. That exceeded expectations for 1.5 percent and was up from 1.4 percent in August. On a monthly basis, inflation was up 0.7 percent, beating forecasts for 0.6 percent and up from 0.5 percent. Core inflation, which excludes…

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Japan Household Spending Data Due On Friday

Japan will on Friday release August numbers for household spending and for its leading and coincident indexes, highlighting a modest day for Asia-Pacific economic activity. Household spending is expected to hold steady at 0.1 percent higher on year. The leading index is tipped to show a score of 104.2, up from 103.9 a month earlier…

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Oil Tumbles As Russia, Saudi Arabia Plan To Increase Output

Crude oil prices came off four-year highs on Thursday, dragged down by reports suggesting Russia and Saudi Arabia have struck a private deal to raise crude output. The recent data from the U.S. Energy Information Administration showed domestic crude supplies to have surged by about 8 million barrels to about 404 million barrels in the…

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Gold Settles Lower, As Treasuary Yields Jump

Gold prices edged lower for a second straight session on Thursday, as U.S. treasury yields rose to the highest levels in about seven years, after the latest batch of economic data increased the likelihood of the Federal Reserve resorting to more aggressive monetary tightening. It is widely expected that the Fed would hike interest rate…

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U.S. Factory Orders Surge Up More Than Expected In August

After reporting a pullback in new orders for U.S. manufactured goods in the previous month, the Commerce Department released a report on Thursday showing a substantial rebound in factory orders in the month of August. The Commerce Department said factory orders surged up by 2.3 percent in August after falling by a revised 0.5 percent…

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Dollar Weakens As Rising Yields Spark Rate Hike Concerns

The dollar is losing ground against its major rivals Thursday afternoon after a recent jump by U.S. treasury yields raised concerns about the outlook for interest rates. With the ten-year yield reaching its highest levels in over seven years, traders seem worried the Federal Reserve may raise rates more aggressively than currently anticipated. With the…