Financial News

Americas Roundup:Dollar softer after Wednesday's Fed minutes,Oil plunges 5 pct on disappointment with OPEC cuts-May 26th,2017

Market Roundup

• US Initial Jobless Claims w/e 234k vs 238k forecast, 233k previous.

• US Jobless Claims 4-wk Avg 235.25k, 241k previous.

• US Continued Jobless Claims w/e 1.923m vs 1.925m forecast, 1.899m previous.

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Singaporean economy likely to expand 2.5 pct in 2017, manufacturing likely to drive growth

The first quarter Singaporean economic growth was upwardly revised earlier today to 2.7 percent year-on-year, as was expected, from the earlier estimate of 2.5 percent year-on-year. The upward revision was mainly due to the outperformance of manufacturing at 8 percent year-on-year.

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U.S. advance goods trade deficit widens more than expectations in April

The U.S. advance goods trade deficit widened more than consensus expectations in April. Goods deficit came in at USD 67.6 billion, as compared with the consensus expectations of a deficit of USD 64.5 billion.

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Canadas small business sentiment rises in May to highest in two-and-a-half years

Canada’s small business confidence rises in May to highest point in two and a half years. The CFIB’s Business Barometer index was up 1.6 points, reaching 66. The sentiment index is back near levels seen before the collapse of oil prices that began in mid-2014.

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Canadas corporate profits fall sequentially in Q1, likely to grow at modest pace in long term

Canada’s operating profits dropped in the first quarter of this year, as compared with the fourth quarter of last year, falling 7.4 percent sequentially. However, on a year-on-year basis, profits rose soundly by 19.1 percent, reflecting last year’s more challenging operating environment, noted TD Economics.

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