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OECD Downgrades Global Growth Outlook

The Organization for Economic Cooperation & Development, on Thursday, downgraded it global growth projections for both 2018 and 2019, and signaled that the impact of the trade war between the US and China has started showing. According to Interim Economic Outlook, released Thursday, the global economy will grow 3.7 percent each this year and next.…

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U.S. Dollar Dips As NAFTA Deal Doubtful This Week

The U.S. dollar drifted lower against its major counterparts in the European session on Thursday, after reports that the U.S. and Canada are unlikely to reach an agreement on NAFTA this week. Odds of reaching a deal look unlikely this week, as the countries have not resolved issues on dairy and dispute panels. Canadian Prime…

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U.S. Weekly Jobless Claims Unexpectedly Dip To Nearly 50-Year Low

A report released by the Labor Department on Thursday unexpectedly showed first-time claims for U.S. unemployment benefits dipped to their lowest level in nearly fifty years in the week ended September 15th. The Labor Department said jobless claims edged down to 201,000, a decrease of 3,000 from the previous week’s unrevised level of 204,000. Economists…

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Philly Fed Index Jumps More Than Expected In September

Partly reflecting faster new orders and shipments growth, the Federal Reserve Bank of Philadelphia released a report on Thursday showing a significant acceleration in the pace of growth in regional manufacturing activity in the month of September. The Philly Fed said its index for current general activity jumped to 22.9 in September after tumbling to…

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U.S. Weekly Jobless Claims Unexpectedly Edge Lower

A report released by the Labor Department on Thursday unexpectedly showed first-time claims for U.S. unemployment benefits dipped to their lowest level in nearly fifty years in the week ended September 15th. The Labor Department said jobless claims edged down to 201,000, a decrease of 3,000 from the previous week’s unrevised level of 204,000. Economists…

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South Africa Interest Rates On Hold

South Africa’s central bank left its key interest rate unchanged on Thursday, in line with economists’ expectations. The Monetary Policy Committee decided to keep the repurchase rate unchanged at 6.5 percent, the South African Reserve Bank Governor Lesetja Kganyago said in a statement. Four members voted in favor of the move, while three sought a…