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Iceland Wage Growth Slows In August

Iceland’s wage growth eased in August after accelerating in the previous month, figures from Statistics Iceland showed Friday. The wage cost index climbed 6.0 percent year-over-year in August, following a 6.3 percent rise in the previous month. In June, the rate of increase was 5.9 percent. On a monthly basis, wage index edged down 0.1…

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Oil Prices Rise As Supply Worries Resurface

Oil prices edged higher on Friday after falling the previous day as U.S. President Donald Trump urged OPEC to lower crude prices, days before the OPEC meeting in Algeria. Global benchmark Brent crude for November delivery was up 75 cents or 0.95 percent at 79.44 a barrel while U.S. crude oil futures were up 0.71…

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Latvia PPI Inflation Accelerates Further

Latvia’s producer price inflation accelerated for the third straight month in August, figures from the Central Statistical Bureau showed Friday. Industrial producer prices climbed 5.7 percent year-over-year in August, faster than the 4.8 percent increase in July. The measure has been rising since February 2017. Among main groups, the price index for the utility sector…

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UK Budget Deficit Widens As Govt Spending Rises

The UK budget deficit increased in August on higher expenditure amid subdued income growth, data from the Office for National Statistics showed Friday. Public sector net borrowing, excluding public sector banks, rose by GBP 2.4 billion from last year to GBP 6.8 billion in August. Borrowing was expected to fall to GBP 3.4 billion. This…

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Loonie Climbs After Canada Retail Sales, CPI

At 8:30 am ET Friday, Canada retail sales for July and consumer inflation for August have been released. After these data, the loonie advanced against its major counterparts. The loonie was trading at 87.27 against the yen, 0.9394 against the aussie, 1.2903 against the greenback and 1.5174 against the euro around 8:31 am ET. The…

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Crude Oil Futures End Modestly Higher, Gain 2.6% In The Week

A day after losing ground following U.S. President Donald Trump’s call to OPEC to lower crude prices, oil futures moved higher on Friday, with traders looking ahead to the OPEC meeting at Algeria this weekend. Recent data showing a notable drop in U.S. crude inventories and possible supply shortage post implementation of U.S. sanctions on…