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The yen rose near a six week high against the dollar on Monday as fears of a recession fueled by the performance of US Treasury instruments
The US PPI rose by 0.2% in August, slightly below the market forecast of 0.3%, after falling by 0.1% in July. On an annualized basis, the index rose to 2.4% in August from 1.9%.
The National Australia Bank revised its expectations for the Reserve Bank of Australia's monetary policy and after it had expected a rate cut twice, it now expects the central bank to raise interest rates in August 2018 by 25 basis points, in November 2018 by 25 basis points, as well as a double rate hike in 2019.
Bill Morneau, Canadian Finance Minister, made the following statement:
British unemployment fell to lowest level is 42 years of 4.3% in the three-month to July, it is the lowest reading since 1975, from a previous 4.4%. Employment levels rose by 181,000 jobs in the last three months to 32.1 million, the strongest since the last quarter of 2015, with employment rate rising to new record highs of 75.3%.
Ian Harper, a member of the Reserve Bank of Australia board, made the following statement:
The British government's attempt to extract the UK from the EU law passed the first parliamentary test, and the MPs supported the law of withdrawal from the EU by 326 votes to 290 votes rejected the law under criticism of that law represents grab power by ministers.
Mohamed Barkindo, Secretary General of OPEC, made the following statement:
Christine Lagarde, director of the International Monetary Fund in Beijing and heads of international organizations including Jim Yong Kim, World Bank President, meets with Chinese Premier Keqiang.
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