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August 2016

Quiet on the data front to start the week

Published: Monday 22 August 2016

This morning US Dollar strengthened broadly due to the comments from Fed vice chair Stanley Fischer. He signalled that a 2016 rate hike is still a possibility as the U.S. economy is already close to meeting the central bank’s goals.  This is all ahead of Janet Yellen’s speaking on Friday. Today was a very quiet on the data front with The Chicago Federal Reserve's National Activity Index showing an improvement in the U.S. economy for July, at a 0.27. Evidently, production, manufacturing and manufacturing capacity all indicated clear gains; whereas sales, orders and inventories rose a modest 0.01. Today Canadian Dollar is the weakest behind Yen as crude oil has dipped to 47.09. Tonight the market awaits clues and comments from the RBNZ Governor Wheeler’s Speech. 

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