Prime News: Political Developments Weigh on New Zealand Dollar

Political Developments Weigh on New Zealand Dollar The initial gains the New Zealand dollar were pared after the inconclusive election results left investors uncertain of the formation of a governing coalition.
The New Zealand dollar fell 0.7 percent at $0.7288.
The kiwi retreated as New Zealand's ruling National Party won the biggest number of votes in the Saturday election but without a ruling majority. Now, it faces a round of coalition establishing that could last for days or weeks.
The formation of a government will depend on either the party brokering a coalition agreement with the New Zealand First Party, which may still take weeks. Prime Minister Bill English has claimed a mandate to create the next government after receiving the biggest share of the vote, as Labour leader Jacinda Ardern refuses to accept defeat.
Ahead of the elections, the kiwi fell whenever Labour, who promised to ban property sales to immigrants, consider a capital-gains tax and overhaul the organizat..

Political Developments Weigh on New Zealand Dollar

Political Developments Weigh on New Zealand Dollar

The initial gains the New Zealand dollar were pared after the inconclusive election results left investors uncertain of the formation of a governing coalition.

The New Zealand dollar fell 0.7 percent at $0.7288.

The kiwi retreated as New Zealand's ruling National Party won the biggest number of votes in the Saturday election but without a ruling majority. Now, it faces a round of coalition establishing that could last for days or weeks.

The formation of a government will depend on either the party brokering a coalition agreement with the New Zealand First Party, which may still take weeks. Prime Minister Bill English has claimed a mandate to create the next government after receiving the biggest share of the vote, as Labour leader Jacinda Ardern refuses to accept defeat.

Ahead of the elections, the kiwi fell whenever Labour, who promised to ban property sales to immigrants, consider a capital-gains tax and overhaul the organizational structure of the RBNZ, was gaining ground. Meanwhile, it rose a full U.S. cent after a survey showed the incumbent National Party, which promised tax relief and focus on solid economic management, was ahead.

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Prime News: Gold Prices Drop on Stronger Dollar, Weaker Euro

Gold Prices Drop on Stronger Dollar, Weaker Euro Gold prices eased on Monday, after marking a second straight weekly decline the previous week, as the U.S. dollar strengthened while the euro slipped due to political uncertainty in Germany.
Spot gold fell 0.4 percent to $1,292.40 an ounce. It dropped around 1.7 percent the week earlier.
U.S. gold futures for December delivery slipped 0.2 percent to $1,295.30 an ounce.
The euro fell in early Asian trading following Germany's election which revealed growing support for a far-right party that caused Angela Merkel to form a governing coalition. Merkel won a fourth term in office but she will have to govern with a far less stable coalition.
Holdings at the SPDR Gold Trust GLD, the world's biggest gold-backed exchange-traded fund, increased 0.45 percent to 856.08 tonnes on Friday from 852.24 tonnes the previous day.
U.S. President Donald Trump warned North Korea's foreign minister that he and leader Kim Jong Un that “he ..

Gold Prices Drop on Stronger Dollar, Weaker Euro

Gold Prices Drop on Stronger Dollar, Weaker Euro

Gold prices eased on Monday, after marking a second straight weekly decline the previous week, as the U.S. dollar strengthened while the euro slipped due to political uncertainty in Germany.

Spot gold fell 0.4 percent to $1,292.40 an ounce. It dropped around 1.7 percent the week earlier.

U.S. gold futures for December delivery slipped 0.2 percent to $1,295.30 an ounce.

The euro fell in early Asian trading following Germany's election which revealed growing support for a far-right party that caused Angela Merkel to form a governing coalition. Merkel won a fourth term in office but she will have to govern with a far less stable coalition.

Holdings at the SPDR Gold Trust GLD, the world's biggest gold-backed exchange-traded fund, increased 0.45 percent to 856.08 tonnes on Friday from 852.24 tonnes the previous day.

U.S. President Donald Trump warned North Korea's foreign minister that he and leader Kim Jong Un that “he won't be around for much longer”, as Pyongyang staged a major anti-U.S. rally.

A proposal by U.S. Republicans to repeal and replace the Obamacare health insurance program dealt with critical new setbacks within the party, when Senator Ted Cruz voiced his opposition while Senator Susan Collins expressed strong criticism of the legislation.

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Dollar Little Changed As Trading Week Draws To A Close

Dollar Little Changed As Trading Week Draws To A Close The dollar is turning in a mixed performance against its major rivals Friday afternoon, but is little changed overall. Investors have been reluctant to make any major moves going into the weekend, as tensions between the United States and North Korea have worsened again.
The leaders of both nations have traded verbal jabs and North Korean Foreign Minister Ri Yong Ho said his country may consider testing a hydrogen bomb in the Pacific Ocean.
The dollar slid to an early low of $1.2004 against the Euro Friday, but has since rebounded to around $1.1950.
The eurozone private sector ended the third quarter on a strong note in September, with growth in activity picking up to its highest since May, flash data from IHS Markit showed Friday. The headline composite output index rose unexpectedly to 56.7 in September from 55.7 in August. The expected score was 55.6.
Germany's private sector grew at the fastest pace in almost ..

Dollar Little Changed As Trading Week Draws To A Close

dollar little changed as trading week draws to a close

The dollar is turning in a mixed performance against its major rivals Friday afternoon, but is little changed overall. Investors have been reluctant to make any major moves going into the weekend, as tensions between the United States and North Korea have worsened again.

The leaders of both nations have traded verbal jabs and North Korean Foreign Minister Ri Yong Ho said his country may consider testing a hydrogen bomb in the Pacific Ocean.

The dollar slid to an early low of $1.2004 against the Euro Friday, but has since rebounded to around $1.1950.

The eurozone private sector ended the third quarter on a strong note in September, with growth in activity picking up to its highest since May, flash data from IHS Markit showed Friday. The headline composite output index rose unexpectedly to 56.7 in September from 55.7 in August. The expected score was 55.6.

Germany's private sector grew at the fastest pace in almost six-and-a-half years in September, flash data from IHS Markit showed Friday.

The composite output index rose unexpectedly for the consecutive second month in September, to 57.8 from 55.8 in August. This was the highest reading since April 2011. The reading was forecast to fall to 55.7.

France's private sector expanded the most since May 2011, flash data from IHS Markit showed Friday. The composite Purchasing Managers' Index rose unexpectedly to a 76-month high of 57.2 in September. Economists had forecast the index to drop to 55.0 from 55.2 in August.

France's economic growth held steady in the second quarter as previously estimated, latest figures from the statistical office Insee showed Friday. Gross domestic product expanded 0.5 percent sequentially, the same pace of growth as seen in the first quarter. This was in line with the estimate published on August 29.

The buck dipped to an early low of $1.3595 against the pound sterling Friday, but has since bounced back to around $1.3530.

The greenback dropped to a low of Y111.644 against the Japanese Yen this morning, but has since climbed to around Y111.995.

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Canadian Dollar Eases After Inflation Data

Canadian Dollar Eases After Inflation Data The Canadian dollar retreated from its early highs against its major counterparts in the European session on Friday, after data showed that the nation's consumer price inflation rose in line with forecasts in August.
Data from Statistics Canada showed that inflation rose a seasonally adjusted 0.2 percent on month in August.
The reading was unchanged from last month and matched economists' expectations.
Core inflation slowed to 0.1 percent from 0.2 percent in seasonally adjusted terms.
Separate data showed that retail sales rose more than expected in July, led by higher sales at motor vehicle and parts dealers and food and beverage stores.
On month, retail sales increased 0.4 percent to C$49.1?billion in July.
This follows a 0.1 percent uptick in June and exceeded expectations for a 0.2 percent gain.
Core retail sales grew 0.2 percent on a monthly basis, compared to a 0.4 percent growth last month. Economists had foreca..

Canadian Dollar Eases After Inflation Data

canadian dollar eases after inflation data

The Canadian dollar retreated from its early highs against its major counterparts in the European session on Friday, after data showed that the nation's consumer price inflation rose in line with forecasts in August.

Data from Statistics Canada showed that inflation rose a seasonally adjusted 0.2 percent on month in August.

The reading was unchanged from last month and matched economists' expectations.

Core inflation slowed to 0.1 percent from 0.2 percent in seasonally adjusted terms.

Separate data showed that retail sales rose more than expected in July, led by higher sales at motor vehicle and parts dealers and food and beverage stores.

On month, retail sales increased 0.4 percent to C$49.1?billion in July.

This follows a 0.1 percent uptick in June and exceeded expectations for a 0.2 percent gain.

Core retail sales grew 0.2 percent on a monthly basis, compared to a 0.4 percent growth last month. Economists had forecast the sales to improve 0.4 percent.

Oil prices fell as a meeting between OPEC and non-OPEC nations kicked off in Vienna, where they discuss compliance with ongoing production curbs to contain the global oil glut.

The ministers would discuss about the possible extension of 1.8 million barrels per day of supply cuts, which is set to expire in March 2018.

Crude for November delivery dropped $0.14 to $50.41 per barrel.

The loonie showed mixed performance in the Asian session. While the currency rose against the aussie and the greenback, it fell against the yen and the euro.

The loonie retreated to 90.96 against the yen, from a 4-day high of 91.45 hit at 8:15 am ET. This may be compared to a 2-day low of 90.67 hit in the Asian session. If the loonie extends decline, 80.00 is possibly seen as its next support level.

The loonie reversed from an early 2-day high of 1.2253 against the greenback, falling back to 1.2317. Continuation of the loonie's downtrend may see it challenging support around the 1.25 region.

The loonie hovered at a 2-day low of 1.4743 against the euro, after having advanced to 1.4659 at 8:15 am ET. The next possible support for the loonie is seen around the 1.48 area.

Flash data from IHS Markit showed that the eurozone private sector ended the third quarter on a strong note in September, with growth in activity picking up to its highest since May.

The headline composite output index rose unexpectedly to 56.7 in September from 55.7 in August. The expected score was 55.6.

The loonie fell to 0.9816 against the aussie, off its early 4-day high of 0.9750. If the loonie extends decline, 0.99 is possibly seen as its next support level.

Looking ahead, Markit's U.S. manufacturing PMI for September is due shortly.

At 9:15 am ET, ECB Vice President Vitor Constancio is chairing panel "Macroprudential policy beyond banking" at the 2nd ESRB annual conference in Frankfurt, Germany.

Federal Reserve Bank of Kansas City President Esther George gives opening keynote before the Federal Reserve Banks of Kansas City and Dallas Energy Conference: "Global Oil Supply & Demand: Prospects for Greater Balance at 9:30 am ET.

Federal Reserve Bank of Dallas President Robert Kaplan participates in moderated Q&A session before the Federal Reserve Banks of Kansas City and Dallas Energy Conference: "Global Oil Supply & Demand: Prospects for Greater Balance" at 1:30 pm ET.

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Canadian Dollar Eases After Inflation Data

Canadian Dollar Eases After Inflation Data The Canadian dollar retreated from its early highs against its major counterparts in the European session on Friday, after data showed that the nation's consumer price inflation rose in line with forecasts in August.
Data from Statistics Canada showed that inflation rose a seasonally adjusted 0.2 percent on month in August.
The reading was unchanged from last month and matched economists' expectations.
Core inflation slowed to 0.1 percent from 0.2 percent in seasonally adjusted terms.
Separate data showed that retail sales rose more than expected in July, led by higher sales at motor vehicle and parts dealers and food and beverage stores.
On month, retail sales increased 0.4 percent to C$49.1?billion in July.
This follows a 0.1 percent uptick in June and exceeded expectations for a 0.2 percent gain.
Core retail sales grew 0.2 percent on a monthly basis, compared to a 0.4 percent growth last month. Economists had foreca..

Canadian Dollar Eases After Inflation Data

canadian dollar eases after inflation data

The Canadian dollar retreated from its early highs against its major counterparts in the European session on Friday, after data showed that the nation's consumer price inflation rose in line with forecasts in August.

Data from Statistics Canada showed that inflation rose a seasonally adjusted 0.2 percent on month in August.

The reading was unchanged from last month and matched economists' expectations.

Core inflation slowed to 0.1 percent from 0.2 percent in seasonally adjusted terms.

Separate data showed that retail sales rose more than expected in July, led by higher sales at motor vehicle and parts dealers and food and beverage stores.

On month, retail sales increased 0.4 percent to C$49.1?billion in July.

This follows a 0.1 percent uptick in June and exceeded expectations for a 0.2 percent gain.

Core retail sales grew 0.2 percent on a monthly basis, compared to a 0.4 percent growth last month. Economists had forecast the sales to improve 0.4 percent.

Oil prices fell as a meeting between OPEC and non-OPEC nations kicked off in Vienna, where they discuss compliance with ongoing production curbs to contain the global oil glut.

The ministers would discuss about the possible extension of 1.8 million barrels per day of supply cuts, which is set to expire in March 2018.

Crude for November delivery dropped $0.14 to $50.41 per barrel.

The loonie showed mixed performance in the Asian session. While the currency rose against the aussie and the greenback, it fell against the yen and the euro.

The loonie retreated to 90.96 against the yen, from a 4-day high of 91.45 hit at 8:15 am ET. This may be compared to a 2-day low of 90.67 hit in the Asian session. If the loonie extends decline, 80.00 is possibly seen as its next support level.

The loonie reversed from an early 2-day high of 1.2253 against the greenback, falling back to 1.2317. Continuation of the loonie's downtrend may see it challenging support around the 1.25 region.

The loonie hovered at a 2-day low of 1.4743 against the euro, after having advanced to 1.4659 at 8:15 am ET. The next possible support for the loonie is seen around the 1.48 area.

Flash data from IHS Markit showed that the eurozone private sector ended the third quarter on a strong note in September, with growth in activity picking up to its highest since May.

The headline composite output index rose unexpectedly to 56.7 in September from 55.7 in August. The expected score was 55.6.

The loonie fell to 0.9816 against the aussie, off its early 4-day high of 0.9750. If the loonie extends decline, 0.99 is possibly seen as its next support level.

Looking ahead, Markit's U.S. manufacturing PMI for September is due shortly.

At 9:15 am ET, ECB Vice President Vitor Constancio is chairing panel "Macroprudential policy beyond banking" at the 2nd ESRB annual conference in Frankfurt, Germany.

Federal Reserve Bank of Kansas City President Esther George gives opening keynote before the Federal Reserve Banks of Kansas City and Dallas Energy Conference: "Global Oil Supply & Demand: Prospects for Greater Balance at 9:30 am ET.

Federal Reserve Bank of Dallas President Robert Kaplan participates in moderated Q&A session before the Federal Reserve Banks of Kansas City and Dallas Energy Conference: "Global Oil Supply & Demand: Prospects for Greater Balance" at 1:30 pm ET.

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Australian Dollar Slides Against Majors

Australian Dollar Slides Against Majors The Australian dollar weakened against other major currencies in the Asian session on Friday.
The Australian dollar fell to more than 3-week lows of 1.5109 against the euro and 0.7908 against the U.S. dollar, from yesterday's closing quotes of 1.5047 and 0.7931, respectively.
Against the yen and the Canadian dollar, the aussie dropped to a 1-week low of 88.47 and a 4-day low of 0.9750 from yesterday's closing quotes of 89.21 and 0.9776, respectively.
If the aussie extends its downtrend, it is likely to find support around 1.52 against the euro, 0.78 against the greenback, 87.00 against the yen and 0.96 against the loonie.

Australian Dollar Slides Against Majors

australian dollar slides against majors

The Australian dollar weakened against other major currencies in the Asian session on Friday.

The Australian dollar fell to more than 3-week lows of 1.5109 against the euro and 0.7908 against the U.S. dollar, from yesterday's closing quotes of 1.5047 and 0.7931, respectively.

Against the yen and the Canadian dollar, the aussie dropped to a 1-week low of 88.47 and a 4-day low of 0.9750 from yesterday's closing quotes of 89.21 and 0.9776, respectively.

If the aussie extends its downtrend, it is likely to find support around 1.52 against the euro, 0.78 against the greenback, 87.00 against the yen and 0.96 against the loonie.

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*NZ Dollar Drops To 2-day Low Of 1.6419 Against Australian Dollar

*NZ Dollar Drops To 2-day Low Of 1.6419 Against Australian Dollar NZ Dollar Drops To 2-day Low Of 1.6419 Against Australian Dollar

*NZ Dollar Drops To 2-day Low Of 1.6419 Against Australian Dollar

*nz dollar drops to 2-day low of 1.6419 against australian dollar

NZ Dollar Drops To 2-day Low Of 1.6419 Against Australian Dollar

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