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Eurozone Current Account Surplus Declines In July

The euro area current account surplus decreased in July largely due to a fall in visible trade surplus, the European Central Bank reported Wednesday. The current account surplus fell to a seasonally adjusted EUR 21 billion in July from EUR 24 billion in June. The surplus on trade in goods decreased to EUR 19 billion…

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Pound Weakens As May To Reject Barnier’s Irish Border Offer

The pound declined against its major counterparts in the European session on Wednesday, trimming its early gains, after a media report showed that U.K. Prime Minister Theresa May would reject Michel Barnier’s “improved” offer to solve the Irish border issue, alleging violation of Britain’s red lines. According to The Times, the U.K. has decided to…

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UK Inflation Rises Unexpectedly In August

UK inflation rose unexpectedly in August, squeezing consumers’ disposable income even as wages showed signs of recovery. Consumer price inflation increased to 2.7 percent in August from 2.5 percent in July, the Office for National Statistics reported Wednesday. A similar higher rate was last seen in February. Economists had forecast inflation to ease to 2.4…

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U.S. Housing Starts Jump Much More Than Expected In August

A report released by the Commerce Department on Wednesday showed a sharp increase in new residential construction in the U.S. in the month of August, although the report also showed a steep drop in building permits during the month. The Commerce Department said housing starts spiked by 9.2 percent to an annual rate of 1.282…

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Canadian Dollar Advances Amid Risk Appetite

The Canadian dollar climbed against its most major rivals in the European session on Tuesday, as European shares advanced after U.S. President Donald Trump imposed 10 percent tariffs on an additional $200 billion worth of Chinese imports, far below the 25 percent the White House had said it was considering. The tariffs will be set…

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Gold Dips On New Trump Tariff Threat

Gold prices fell on Tuesday after the United States announced a 10 percent tariff on about $200 billion in imports from China, staring next week, in the latest escalation of trade conflict between the world’s two largest economies. Spot gold fell 0.1 percent to $1,198.79 an ounce after rising 0.6 percent in the previous session.…