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IMF cuts 2017 growth forecasts for UK and US (news: 24/07/17)

Today's press

  • The International Monetary Fund has cut its growth forecast for the UK economy this year after a weak performance in the first three months of 2017.

  • WASHINGTON (Reuters) - U.S. home resales volumes fell more than expected in June as a dearth of properties pushed house prices to a record high.

  • LONDON (Reuters) - Sterling recovered from its worst week against the euro in nine months on Monday as investors took profit on gains for the single currency and ministers talked up a transitional deal to smooth Britain's exit from the European Union.

  • - The U.S. dollar was nursing losses near 13-month lows against a currency basket on Monday, as sentiment on the greenback remained negative amid political uncertainty in Washington.

  • Deutsche Bank AG may shift about 300 billion euros ($350 billion) from the balance sheet of its U.K. entity to Frankfurt as client trading and assets migrate to the continent following Britain’s decision to leave the European Union, according to a person familiar with the matter.

  • We have the results of the composite PMI for the eurozone and this is showing that the economic growth in the region is slowing. This really is not quite what is desired, especially as we've still got the ECB going all out on quantitative easing. If growth is slowing even with that stimulus then it might well be that the economy has serious structural problems, not just cyclical ones.

Next trading day's important events

Forex quotes:

  • USDJPY: 111.06
  • EURUSD: 1.1642


  • S&P 500: 2468.71
  • NASDAQ: 6390.00


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