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Daily Forex Market Preview – 10/08/2018
The markets were trading mixed with the U.S. Dollar managing to hold firm by market close. The markets were influenced by headline reports about China imposing a new round of tariffs of $16 billion.
Reports about the ongoing tussle between the U.S. and the sanctions imposed on Iran continued. The U.S. was also seen preparing for a fresh round of sanctions on Russia with speculation that it could also hit the crude oil market.
Economic data was clearly dominated by the broader themes in the market. The U.S. Producer Price Index for July showed a flat print for the month. Core PPI rose just 0.1% on the month, falling below estimates of a 0.2% increase.
Earlier today, Japan released its preliminary first-quarter GDP report. Data showed that Japan’s economy grew 0.4% on the quarter. This brought the annual GDP growth rate to 1.9%.
Later in the day, the UK’s Of...
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