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U.S. Dollar Advances As Fed Chair Hints At Possible Rate Hikes While U.S.-Iran Faceoff Continues
The U.S. Dollar value edged higher after the U.S. Federal Reserve Chair Kevin Warsh signalled the possible need for an increase in interest rates if inflation does not decline, in his first speech at the Jackson Hole Symposium in Wyoming today. U.S-Iran standoff continues despite mediatory efforts by Pakistan and Qatar.
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1 day ago
TSX Down Nearly 1%, Headed For Weak Close
After opening marginally up and advancing further subsequently, the Canadian market turned weak on Friday following Fed Chair Kevin Warsh's hawkish tone at the Jackson Hole Economic Symposium signaled some tightening measures by the U.S. central bank this year. Tariff concerns and worries about growth due to the ongoing conflict hurt as well.
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1 day ago
Swiss Market Settles Slightly Up
The Switzerland market ended marginally up on Friday after staying above the flat line for almost the entire duration of the day's session. Despite geopolitical tensions and Fed Chair's hawkish tone during his speech at the Jackson Hole Symposium today, the mood in European markets remained positive.
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1 day ago
European Stocks Close Higher Despite Fed Chair's Hawkish Tone At Jackson Hole
European stocks closed higher on Friday as investors digested regional economic data and assessed Federal Reserve Chair Kevin Warsh's speech at the Jackson Hole Economic Symposium.
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Fed Chairman Warsh Reiterates Discomfort With Forward Guidance But Highlights Inflation Concerns
Federal Reserve Chairman Kevin Warsh delivered his highly anticipated debut speech as the head of the central bank at the Jackson Hole economic symposium on Friday. As widely expected, Warsh began his remarks by highlighting his aversion to providing "forward guidance," noting his "long-time discomfort with early pronouncements of future policy decisions."
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1 day ago
U.S. Consumer Sentiment Deteriorates Slightly Less Than Estimated In August
Consumer sentiment in the U.S. deteriorated by slightly less than previously estimated in the month of August, according to revised data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index for August was upwardly revised to 51.7 from a preliminary reading of 51.0.
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Chicago Business Barometer Unexpectedly Plunges To Eight-Month Low In August
MNI Indicators released a report on Friday unexpectedly showing a sharp pullback by its reading on Chicago-area business activity in the month of August. The report said the Chicago business barometer plunged to 47.1 in August from 57.6 in July, with a reading below 50 indicating contraction. Economists had expected the index to rise to 59.0.
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Bay Street May Open On Sluggish Note; Fed Chair's Jackson Hole Speech Eyed
Canadian stocks are likely to open on a somewhat sluggish note on Friday, reacting to the GDP data and tracking the mixed trend in commodities markets. The focus will be on Fed Chair Kevin Warsh's speech at the Jackson Hole economic symposium for clues about the U.S. central bank's interest rate moves.
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1 day ago
Canadian Dollar Rises As Traders Focus On Jackson Hole, GDP Data
The Canadian dollar strengthened against other major currencies in the European session on Friday, as traders await the highly anticipated speech by Federal Reserve (Fed) Chair Kevin Warsh at the Jackson Hole Symposium later in the day.
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1 day ago
Eurozone Economic Confidence Improves To 7-Month High
Eurozone economic confidence improved to a seven-month high in August driven by higher sentiment in industry, services and retail trade, monthly survey data from the European Commission showed Friday. The economic sentiment index registered 98.4 in August, up from 97.1 in July. The score was expected to climb moderately to 97.5. The latest reading was the highest since January.
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Canadian Dollar Rises Against Majors
The Canadian dollar strengthened against other major currencies in the European session on Friday.
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1 day ago
FTSE 100 Modestly Higher As Miners Move Up
U.K. stock market's benchmark index FTSE 100 moved higher on Friday, mirroring the trend in most of the markets across Europe, as investors awaited Federal Reserve Chair Kevin Warsh's speech at Jackson Hole later in the day for clues about the outlook for U.S. central bank's interest rates.
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1 day ago
France Narrowly Avoids Recession In Q2
The French economy stalled in the second quarter as hot summer weighed on agriculture production, making it difficult to achieve the full-year growth target. Flash data showed that consumer price inflation rose to a three-month high in August due to higher energy prices. Gross domestic product remained flat in the second quarter but avoided a recession, revised data from the statistical office I
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1 day ago
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