Dollar set for strongest week since October on safe-haven demand

Dollar set for strongest week since October on safe-haven demand
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Dollar set for strongest week since October on safe-haven demand
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Canadian monthly industrial production and GDP respectively contracted in April by 0.1% and 0.9%, respectively. The Bank of Mexico lowered the overnight interbank interest rate by an as-expected 50 basis points after yesterday’s scheduled policy meeting. The 4-1 decision drew one dissent against changing the rate’s level. Half-percentage point cuts had also been undertaken in…
Everyone and their momma expects the Fed to slice rates by another 25 bps in December, which puts all the attention on Powell’s guidance and his press conference after the statement. But our Event Guide for the December FOMC decision also showed that Chairman Powell’s remarks were hawkish in the last two Fed rate…
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GBP/JPY has been seeing lower highs since getting rejected from the 200.50 – 201.00 area in late May. And why not? Threats of the Bank of England (BOE) turning dovish and mixed data from the U.K. are keeping the bulls at bay. Meanwhile, a bit of risk aversion and talks of the Bank…
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While the decline in unemployment may suggest stability in the labor market, the details of the report point to a more complex picture. Uneven Hiring Across Sectors Job growth was concentrated mainly in leisure and hospitality as well as health care. These industries accounted for the majority of new jobs both in December and throughout…