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The reaction for the economic numbers delays, Dollars shorten the decreasing
The US dollars shorten the decreasing on Wednesday. The trade man said that the dollar finally reacts to the economic numbers. The US October Consumer Price Index rose 0.10%. It fit the expectation. In addition, the core inflation data rose 0.20% which fit the expectation as well. The US October core inflation data made the fastest speed of rising in the past four months. However, it’s positive for FED to raise the interest rate in December.
The US dollars shorten its decreasing. Moreover, the dollar finally reacts to the economic numbers even it’s kind of late. The analysts said that the economic numbers are positive to the dollars since the beginning. It’s also a good news for rates in Brisbane as well. USDX was 93.863. It not only shorten the range of decreasing but also helps to remain the price. The euro acts back to the position which was 1.17930 US dollars. It remains stable as well as the US dollars. Euro rose to the high point of 1.1861 US dollars earlier. It broke the 1.18 level of US dollars on Tuesday. Please mind the rates in Brisbane.
The US dollars fell to 113.140 Japanese Yuen. It ended at 113.46 on Tuesday. Earlier today, the Japanese economic number shows a 1.40% growth in Q3. It has made the longest record of increasing period in the past 16 years. The British pounds was 1.3158 US dollars and keeping stable as well. However, the government of Prime Minister Mey has continued to be questioned by his own Conservative Party members. It made the pounds facing the pressure. Therefore, please pay attention to the rates in Brisbane.
The investors are still worried about if the US government will pass the tax reforming policy before the end of this year. Senate announced tax reform bill revision on Wednesday. It includes canceling individual on a compulsory of Obama’s health insurance. However, the House Speaker Ryan said the cancelling is excluding in the health insurance policy. Better this way to our best rates in Brisbane. At the meanwhile, EIA announced that crude oil stocks surprisedly rose for the continuing second week. Therefore, the oil price is facing the pressures while the US dollars increases.
South Korea and Canada signed an indefinite unlimited currency swap agreement
Yonhap News Agency reported that South Korea and Canada signed an indefinite, unlimited currency swap agreement. It will be able for the two countries to provide liquidity to each other to promote domestic financial stability.
According to the report, the swap agreement came into effect immediately after BOK Governor Lee and BOC Governor Pollot signed in Ottawa. According to Yonhap News Agency, Kim, South Korea’s Minister of Planning and Finance, said: “We have obtained the strongest safety net ever for all possible crises.” Due to Canada is a sovereign credit rating, one of the highest developed countries. The Canadian dollar is regarded as the internationally accepted key currency.
Rates in Brisbane, Korea, and Canada
The Bank of Korea may secure a Canadian dollar reserve to maintain financial stability in an emergency.
According to statistics, under the Chiang Mai Initiative framework. South Korea signed a currency swap agreement with China, Australia, Malaysia and Indonesia for a total value of 116.8 billion U.S. dollars. Renewing the agreement with the United Arab Emirates for a total of 5.4 billion U.S. dollars will add up to 122.2 billion U.S. dollars.
House of Representatives passed the tax reform bill higher
After the House of Representatives passed its own version of the tax reform act on Thursday afternoon, the dollar subsequently went up. The dollar index rose 0.1% to 93.937. At the same time, the euro fell to 1.1764 US dollars, late at 1.1791 on Wednesday. The pound rose to $ 1.3185 and was quoted at 1.3170 late Wednesday. In the United States, the House of Representatives voted to pass the Republican-led tax reform plan as expected. However, the fate of the bill is still uncertain because the Senate and the House of Representatives still disagree on the content. The UK reported that retail sales rose 0.3% in October, up 0.1% and the pound gained support.
House of Representatives
Apart from the initial weakness in claims for jobless benefits. Therefore, the other data also weaker than expected and the dollar was pressured in the morning session. Analysts said the House tax reform bill faces the Senate obstacles. In addition, the bill did not receive strong support in the House of Representatives. Actually, the dollar may still be under pressure. However, please don’t worry about rates in Brisbane. It will be OK.
On the pound, analysts said the pound rose on the back of rumours of poor retail sales in Britain. However, it slightly higher-than-expected results. In economic data, the number of initial claims for unemployment benefits rose to 249,000 in the week. It ended on November 11 as the six-week high. Estimated at 235,000. The Philadelphia Fed said its November manufacturing index fell to 22.7 in October from 27.9. The import price index rose 0.2% in October, down from 0.7% in September. It really matters to the rates in Brisbane.
Rates in Brisbane
Rates in Brisbane is the most popular issue that everyone cares about. Value Currency Exchange Service not only provides the latest forex news but also the best rates in Brisbane. Due to the customers’ needs, we always serve the best. It is our motto to serve the best. Besides the currency exchange service, we provide the best accountants consulting in Brisbane as well. Therefore, pick up your phone and give us a call right now if you have such the needs. Some people are wondering why we got the cheapest rates in Brisbane. Let me tell you the answer here. The reason we got the cheapest rates in Brisbane is that we don’t have to pay a lot for the rent. However, our location is still quite good which is in Brisbane CBD.