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Mainland Norway's GDP Grows 0.2% In Q1
The Mainland Norwegian economy continued to expand in the first quarter, though the pace of growth has eased since the fourth quarter amid weaker household consumption, figures from Statistics Norway showed Thursday. Gross domestic product advanced 0.2 percent sequentially in the March quarter after
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Forex Today: Focus remains on Fedspeak in absence of high-impact data
Here is what you need to know on Monday, May 13: Financial markets remain quiet to start the new week and major currency pairs fluctuate near the previous week's closing levels. The economic calendar will not offer any high-tier data releases on Monday and investors will continue to scrutinize comme
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WTI edges lower to near $77.50 due to uncertainties surrounding Oil demand
WTI Oil price extended losses as Fed officials indicated higher interest rates for longer, which could dampen Oil demand. The crude Oil prices received pressure as China’s PPI marked the 19th consecutive month of deflation. Iraq's Oil minister Hayan Abdul Ghani committed to the voluntary Oil product
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NZD/USD Price Analysis: Struggles to counter 0.6000
NZD/USD faces selling pressure above 0.6000 as US Dollar recovers. Fed Kashkari doesn’t see interest rate cuts this year. Investors see the RBNZ reducing interest rates from October. The NZD/USD pair faces pressure above the psychological figure of 0.6000 in Wednesday’s New York session. Downside pr
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UK Construction Activity Expands Most In 14 Months
The British construction sector advanced at the quickest pace in more than a year in April, largely due to solid rates of growth in the commercial and civil engineering segments, survey results from S&P Global showed on Tuesday. The Construction Purchasing Managers' Index, or PMI, rose to 53.0 i
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Forecasting the Coming Week: Fedspeak and the BoE meeting come to the fore
Another dreadful week for the Greenback saw the USD Index (DXY) tumble to three-week lows well south of the 105.00 support, mainly in response to the dovish tone at the FOMC event and the softer-than-expected Nonfarm Payrolls in April. The US Dollar ended the week deeply in red territory, in line wi
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ECB's Stournaras: Three ECB cuts now more likely in 2024
The European Central Bank (ECB) Governing Council member and Governor of the Bank of Greece, Yannis Stournaras, said on Friday that the central bank will probably lower borrowing costs three times this year instead of four, according to Bloomberg. Key quotes “We now consider three rate cuts in 2024
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Mexican Peso rises on upbeat market sentiment
The Mexican Peso rises as market sentiment lifts following the Federal Reserve meeting on Wednesday. Despite acknowledging inflation remained sticky, the Fed’s Chair Jerome Powell described the need for higher interest rates as “unlikely”. The Fed’s decision to reduce its Treasury holdings at a slow
Pull-up Update