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Fed Minutes Indicate Patient Approach To Further Rate Hikes

Minutes from the Federal Open Market Committee’s latest meeting confirmed Federal Reserve Chairman Jerome Powell’s recent remarks suggesting the central bank will take a patient approach to further interest rate increases. The minutes of the FOMC’s December meeting showed participants saw the appropriate extent and timing of future rate hikes as less clear than earlier.…

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Gold Settles Higher As Dollar Eases Ahead Of Fed Minutes

Gold prices moved higher on Wednesday, as global stocks extended recent gains and the dollar shed ground against most major currencies ahead of release of the minutes of the Federal Reserve’s policy meeting in December. Easing worries about U.S.-China trade tensions amid speculation the two countries will strike a deal ahead of a March 1…

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Ten-Year Note Auction Attracts Slightly Below Average Demand

Following yesterday’s auction of $38 billion worth of three-year notes, the Treasury Department sold $24 billion worth of ten-year notes on Wednesday, drawing slightly below average demand. The ten-year note auction drew a high yield of 2.728 percent and a bid-to-cover ratio of 2.51. Last month, the Treasury also sold $24 billion worth of ten-year…

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Portugal Trade Deficit Widens In November

Portugal’s foreign trade widens in November from a year ago, figures from Statistics Portugal showed on Wednesday. The trade deficit rose to EUR 2.066 billion in November from EUR 909 million in the corresponding month last year. In October, the deficit was EUR 1.624 billion Exports declined by 8.7 percent year-on-year following a 5.3 percent…

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Ireland Manufacturing Output Falls Most In 17 Months

Ireland’s manufacturing output declined at the fastest pace in 17 months in November, preliminary figures from the Central Statistics Office showed on Wednesday. Manufacturing output fell 11.5 percent annually in November after a rise of 5.0 percent in October. The decline was the worst since June 2017, when output decreased 17.3 percent. On a monthly…

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French Consumer Confidence Lowest Since 2014

France’s consumer confidence fell sharply in December to its lowest level since late 2014, survey data from INSEE showed on Wednesday. The consumer confidence dropped to 87 from 91 in November. The latest reading was the lowest since November 2014. Economists were looking for a score of 90. The reading is well below its long…

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Loonie Retreats Vs Most Majors Ahead Of Canada Trade Data

Statistics Canada will release Canada trade data for November at 8:30 am ET Tuesday. The loonie traded mixed against its major opponents before the data. While the loonie held steady against the euro, it retreated from its early highs against the rest of major rivals. The loonie was worth 1.5206 against the euro, 81.85 against…

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Dollar Mixed Ahead Of U.S. Trade Data

At 8:30 am ET Tuesday, U.S. trade data for November is scheduled for release. Ahead of the data, the greenback traded mixed against its major opponents. While the greenback rose against the pound, it held steady against the rest of major rivals. The greenback was trading at 1.1443 against the euro, 108.78 against the yen,…