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Trump delays State of the Union Address until shutdown ends

U.S. President Donald Trump said in a late night Tweet on Wednesday that he would delay a State of the Union address until the government shutdown was over, responding to House Speaker Nancy Pelosi’s move to obstruct his plans for the speech. Earlier in the day, Democratic leaders in the House of Representatives floated the…
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Dollar hampered by global growth, trade war worries; Aussie slips

The dollar was hamstrung versus its rivals on Thursday, restrained by concerns over global growth, the U.S. government shutdown and a yet-unresolved U.S.-Sino trade dispute. “Trade tensions are the most dominant factor for investor sentiment right now and will drive market flows,” said Nick Twidale, chief operating officer at Rakuten Securities. Twidale added that investor…
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Forex – Aussie Dollar Falls After National Australia Bank Hikes Home Loan Rates

The Australian dollar fell against the U.S. dollar on Thursday in Asia after one of the Australian top 4 big national banks, the National Australia Bank (NAB), raised the home loan rates. The bank said in a statement today that it would increase its standard variable mortgage rate for owner-occupier principal and interest (P&I) customers…
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Oil Prices Fall as Concerns Over Global Growth Continue to Dent Investor Sentiment

Oil prices slid on Thursday in Asia as lingering concerns over global economic growth continued to affect investors’ risk appetite. International Brent Oil Futures were at $60.87 a barrel at 1:42 AM ET (06:42 GMT), down 0.5%. U.S. Crude Oil WTI Futures were at $52.37 per barrel, also down 0.5% from their last settlement. On…
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Thought of the week

As mentioned in our 2019 Outlook, we expected the U.S. economy to slow this year as fiscal stimulus begins to fade. However, recent data, such as the ISM and Empire State manufacturing surveys, suggest that the economy is cooling at a faster pace than we anticipated. That said, as this week’s chart shows, this slowing…
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Thought of the week

The US December jobs report was strong on many fronts. In particular, data released showed wages for production and nonsupervisory workers increased by 3.3% year-over-year, the highest level since April 2009. Inflation data released last Friday showed headline consumer prices moderating to 1.9% and core prices steady at 2.2% year-over-year. The cooling in headline inflation…
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Brexit not a problem for Canada, will hit global economy: Canada finance minister

The uncertainty over whether the United Kingdom will leave the European Union is not a direct problem for Canada but will hit the global economy, Canadian Finance Minister Bill Morneau said on Wednesday. Morneau, speaking to reporters on the sidelines of a Cabinet retreat, sidestepped questions about whether Canada would seek to negotiate a free…
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U.S. import prices fall; year-on-year drop largest since 2016

U.S. import prices fell for a second straight month in December as the cost of petroleum products tumbled and a strong dollar curbed prices of other goods, leading to the largest year-on-year drop in more than two years. The report from the Labor Department on Wednesday added to weak producer and consumer prices data in…
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Oil Prices Fall on Record High U.S. Crude Production

Oil prices fell on Thursday in Asia after the U.S. Energy Information Administration (EIA) reported that American crude oil production reached a record 11.9 million bpd in the week ending Jan. 11, up from 11.7 million bpd last week. Crude Oil WTI Futures were down 0.7% at $51.97 per barrel by 12:48 AM ET (05:48…
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Forex – British Pound Little Changed as May Wins Confidence Vote

The British pound was little changed on Thursday in Asia after UK Prime Minister Theresa May’s government survived a vote of no-confidence. The news followed the hefty defeat of the prime minister’s withdrawal deal in the U.K. parliament on Wednesday. The GBP/USD pair last traded at 1.2867, down 0.08% by 11:51 PM ET (04:51 GMT).May…
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