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Euro makes big gains on risk sentiment

Risk appetite was up today on news from Washington DC which suggested that there is likely to be a six week extension to the debt ceiling deadline. By October 17 the US government will reach its borrowing limit so it is important to avert a default by raising this limit. Investors are happy that there are signs of progress in the debt talks. EURUSD is strong today, up 0.4% since...

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October 11, 2013 @ 1:56 pm

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China’s manufacturing sector shows growth

China’s economy is showing signs of a rebound from a seven-quarter slowdown after upbeat manufacturing data today. The final reading for HSBC’s purchasing manager’s index (PMI) for manufacturing rose to 51.5 in December from a preliminary reading of 50.9 on December 14 and up from November’s final reading of 50.5. A number above 50 indicates expansion while a number below 50 signals...

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December 31, 2012 @ 10:48 am

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Bank of England sees slow growth in UK economy for 2013

The Bank of England Monetary Policy Committee (MPC) voted 8 to 1 not to expand its asset purchase programme, currently at 375 billion pounds, according to the minutes of the December 5 policy meeting. The MPC also voted unanimously to leave interest rates unchanged at a record low 0.5 percent. Despite a sluggish economy, the MPC is reluctant to expand QE since this usually causes higher...

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December 19, 2012 @ 2:14 pm

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Euro zone PMI rises slightly but still indicates contracting economy

The preliminary reading of the euro-zone purchasing managers' composite output index (PMI) ticked up in December indicating that the downturn in the currency bloc’s  economy has eased. "The euro-zone downturn showed further signs of easing in December, adding to hopes that the outlook for next year is brightening," said Chris Williamson, chief economist at Markit, in the release. "It looks...

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December 14, 2012 @ 11:20 am

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