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New Zealand Food Prices Add 0.3% In October

Food prices in New Zealand were up a seasonally adjusted 0.3 percent on month in October, Statistics New Zealand said on Tuesday. Individually, fruit and vegetable prices added 0.2 percent on month, while meat, poultry, and fish prices rose 2.4 percent, grocery food prices fell 0.3 percent, non-alcoholic beverage prices fell 0.3 percent and restaurant…

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Oil Prices Rise As Saudi Arabia Pledges Supply Cut

Oil prices rose on Monday amid news that Saudi Arabia would reduce crude sales in December to shore up sagging prices. Media reports suggest that other major producers are also considering reductions heading into 2019. Global benchmark Brent crude was up 1.28 percent at $71.08 per barrel while U.S. West Texas Intermediate (WTI) crude futures…

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Italy Industrial Production Rebounds In September

Italy’s industrial production rose in September after declining in the previous two months, preliminary data from the statistical office ISTAT showed on Monday. Industrial production grew a calendar adjusted 1.3 percent year-on-year in September, following a 0.8 percent fall in August and a 1.3 percent slump in July. Utilities output grew 7 percent and manufacturing…

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Australia Business Confidence Data Due On Tuesday

Australia will on Tuesday see October results for the indexes of business confidence and conditions from NAB, highlighting a light day for Asia-Pacific economic activity. In September, the index scores were +5 and +15, respectively. New Zealand will release October numbers for food prices; in September, food prices were down 0.1 percent on month. The…

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Dollar Gaining Ground In Holiday Trading

The dollar is rising against its major rivals Monday afternoon. The Veterans Day holiday is keeping some investors away from their desks, but concerns over Brexit and the Italian budget have helped to drive the buck higher. The budget stalemate between Italy and European Union has investors in a cautious mood as the deadline to…

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Turkey September Current Account Swings To Surplus

Turkey’s current account balance for September swung to a surplus this year, preliminary data from the Turkish central bank showed on Monday. The current account showed a surplus of $1.83 billion versus a deficit of $4.44 billion in the same month last year. Consequently, the 12-month rolling deficit was reduced to $46.05 billion. The surplus…

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Euro Drops As Italian Budget Deadline Nears

The euro declined against its major counterparts in the European session on Monday, as investors continued to fret over budget stalemate between Italy and European Union as the deadline to present a revised budget plan by the Italian government neared. Italian Deputy Premier Matteo Salvini said Sunday that the government could block European Union budget…