WINNIPEG – A judge has approved a settlement for three class-action lawsuits, worth $530 million, over federal child benefit payments that were clawed back by the Manitoba government. The agreement will compensate an estimated 30,000 children who spent time in child welfare, some of whom have since become adults, for money the province took over
Tag: Dollar
Australian Dollar remains weaker following GDP, China Services PMI data
The Australian Dollar remains weaker following the mixed economic data on Wednesday. The Bank of America has revised its economic growth forecast for China, lowering its 2024 projection to 4.8%. The US ISM Manufacturing PMI inched up to 47.2 in August from 46.8 in July. The Australian Dollar (AUD) extends its losses against the US Dollar
Key Week for Bitcoin and the Dollar Index
Tuesday’s U.S. manufacturing data is likely to show continued contraction, signaling weakness in the dollar index and strength in bitcoin. Traders should watch out for an August-like growth scare in risk assets. Friday’s U.S. jobs data could extend the dollar weakness, according to ING. Bitcoin (BTC), the leading cryptocurrency by market value, fell over 10%
Australian Dollar consolidates despite improved market optimism
The Australian Dollar moves sideways despite positive economic data on Monday. Australia’s Building Permits increased by 10.4% MoM in July, marking the strongest growth since May 2023. The US Dollar may depreciate due to the rising odds of a 25 basis point rate cut by the Fed. The Australian Dollar (AUD) experiences volatility against the US
Dollar edges to two-week high vs euro as US payroll data looms
By Kevin Buckland TOKYO (Reuters) – The dollar climbed to a two-week top against the euro on Monday as traders pared bets for aggressive policy easing by the Federal Reserve with the focus now moving to a crucial U.S. jobs report at the end of this week. The dollar advanced to its strongest since Aug.
US Dollar secures gains after PCE figures, eyes on NFPs next week
US inflation, as measured by the PCE Price Index, remained unchanged at 2.5% YoY in July. The USD is gaining due to the strength of its economy while inflation is coming down. The labor market is still the focus for September’s decision. On Friday, the US Dollar, measured by the US Dollar Index (DXY), extended