The Pound Sterling made headway against its US rival and the Euro during London trade on Thursday as FX traders reevaluate the possibility of an imminent rate cut from the Bank of England. Yesterday, Andrew Bailey, who will take over the helm of the BoE from Andrew Carney, told lawmakers […]
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PetroChina Declares Force Majeure on Gas Imports – 05 March 2020
China’s top gas importer PetroChina recently declared a force majeure on gas imports according to sources. Four industry sources told Reuters that the Chinese company issued a force majeure notice to several gas suppliers, most of them are piped-gas suppliers. 40% of PetroChina’s gas demand is supplied by overseas suppliers. […]
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U.S. Dollar Struggles on Expectations of More Rate Cuts – 05 March 2020
The U.S. dollar struggled to advance against its primary trading partners on Thursday as traders priced in the possibility that the Federal Reserve will implement at least one interest rate cut of 50 basis points by July. The Fed’s emergency interest rate cut on Tuesday sent the dollar spiraling to […]
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Coronavirus Forex Updates: March 5, 2020 – 05 March 2020
Updated March 5, 2020 China reported 139 new cases and 31 new deaths on Wednesday, all of which were centered within the Wuhan province, the epicenter of the disease. South Korea reported 438 new cases and 3 new deaths, while the U.S. state of California declared a state of emergency […]