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[QUOTE="limyeeshin, post: 89104, member: 35099"] [B][U][SIZE="4"][COLOR="Blue"][CENTER]Thursday September 3, 2015[/CENTER][/COLOR][/SIZE][/U][/B] [B][U][COLOR="Red"]Dollar gains despite ongoing China concerns[/COLOR][/U][/B] The U.S. dollar held stronger with spurred rate hike in September. Despite lower than expected figures in the ADP employment report, the initial rate rise seems to remain unaffected as the non-farm payrolls adjusted up in July. The dollar gains were expected to be limited as the concerns on influences from China economy to global market persists. Economic reports showed that the manufacturing sector in China contracted in fastest pace in three years, also manufacturing in Europe and U.S. was slower than expected. The Chinese shares were lower, adding fears over the global economic outlook. The concerns on outlook began to ease on Wednesday which pushed the dollar slightly higher. [B][U][COLOR="red"]Aussie weakened with weak retail sales[/COLOR][/U][/B] The Australian dollar was slightly stronger in early trading on Thursday ahead of trade balance and retail sales data release. AUD/USD was up 0.12% at 0.7046. However, later the retail sales data fell 0.1%, not meeting the expectation of 0.4% gain and the trade balance for July came in at A$2.460 billion, improved from A$2.93 billion in June. The AI group services index showed at 55.6 increased from last month’s figure at 54.1. AUD/USD changed hands at 0.7014, down 0.33% after the data release. [B][U][COLOR="red"]Elsewhere[/COLOR][/U][/B] Japanese yen weakened after Bank of Japan member Kiuchi stated as reaching 2% inflation would be hard by monetary easing itself and the government bond buying is distorting prices. The Nikkei rose in early trade shortened demand for the yen, but the Nikkei ended slightly lower. USD/JPY changed hands, up 0.12% traded at 120.48 on Thursday. The pound was steady with almost three months lows against the dollar after the U.K construction data was at slower pace than expected, dampening the outlook for the third quarter growth. Also, the outlook that BoE would not execute rate hike ahead of monetary policy meeting next week slightly weakened the pound. GBP/USD fell to 1.5291, remained steady with the euro with EUR/GBP down to 0.7372. The euro was broadly weakened ahead of ECB monetary policy meeting. New Zealand dollar rose against the U.S. dollar on Wednesday but the gains have been capped by the concerns on China volatility. NZD/USD hit 0.6369 on Wednesday, gaining 0.47%. The kiwi went higher against the aussie with AUD/NZD slid to 1.1064, down 0.18%. Overall, the dollar gained 0.49%, the euro fell 0.82%, the yen fell 0.80%, and the pound slightly weakened by 0.04%. Once the oil price dropped to $43 range, the Russian ruble fell 1.17% and Brazilian real fell 1.47%. Emerging currencies were generally weak, with Turkish Lira weakened by 0.39% and Indonesian rupiah down 0.21%. (Mia Chung) [/QUOTE]
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