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[QUOTE="limyeeshin, post: 111732, member: 35099"] [B][U][CENTER][SIZE="5"][COLOR="Blue"]Thursday 13 October 2016[/COLOR][/SIZE][/CENTER][/U][/B] [B][U][COLOR="Red"]Yen slightly recovers after weak Chinese data[/COLOR][/U][/B] Japanese yen changed hands against the U.S. counterpart on Thursday after the release of downbeat Chinese trade balance. The yen traded a tad weaker in early Asia after the Federal minutes showed indications to increased likelihood of rate hike before the end of this year. In Japan, bank lending for September came in at 2.2% gain, better than expected rise of 2.0%. China’s trade balance for September showed a surplus of $41.99 billion, much lower than $53 billion expected. USD/JPY changed hands at 103.70, down 0.49%. [B][U][COLOR="Red"]Dollar eases after the Fed minutes[/COLOR][/U][/B] The U.S. dollar continued to hover at seven-month highs against other major currencies overnight and slightly eased on Thursday. The dollar rose ahead of the Federal meeting minutes with increased speculations for a rate hike by December, pricing at 69.5%. The minute showed indicated a rate hike is highly possible by the December. Earlier, three members of the FOMC who dissented at the last meeting may soon have the needed support for a raise, and the minutes showed that members noting a reasonable case could be made on both sides of the argument. The dollar eased 0.16% against other major currencies to 97.63. [B][U][COLOR="Red"]Aussie holds lower after the inflation data[/COLOR][/U][/B] The Australian dollar traded lower against the greenback Thursday after the release of inflation data. Earlier in Australia, MI inflation expectation rose to 3.7% from 3.3% previous figure. A rise in inflation expectation would comfort the central bank as its impact on wage and price-setting behavior. The price survey however has shown some volatility in recent months. AUD/USD fell 0.36% and traded at 0.7534. [B][U][COLOR="Red"]Sterling eases further with ongoing concerns on Brexit[/COLOR][/U][/B] The British pound slightly eased after some gains supported by the British Prime Minister Theresa May was forced to give way to members of parliament for influence of Parliament over her Brexit plan. She was pushed to allow Tory MPs on Tuesday to vote for a Labour motion calling for better analysis of her Brexit proposals. The motions demands for MPs to scrutinize May’s negotiating position before she proceeds withdrawal talks with other EU members. Such motion suggest the weakness of the Prime Minister’s position in Parliament. The pound has been under selling pressure with grown concerns over a hard Brexit for Britain. The Times reported on Tuesday that the U.K. could lose up to £66 billion a year with a hard Brexit. GBP/USD traded at 1.2191, down 0.02%. [B][U][COLOR="Red"]Major pairs (Thursday update)[/COLOR][/U][/B] [HTML]USD/JPY ↓0.44% 103.75 EUR/USD ↑0.13% 1.1024 EUR/JPY ↓0.28% 114.4 USD/CAD ↑0.06% 1.3284 GBP/USD ↓0.11% 1.1022 USD/CHF ↓0.14% 0.9892 AUD/USD ↓0.38% 0.7532 NZD/USD ↓0.08% 0.7057[/HTML] [/QUOTE]
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