Forex News from InstaForex

Japan Manufacturing PMI Improves To 46.6 In July - Jibun Bank

The manufacturing sector in Japan continued to contract in July, albeit at a weaker pace, the latest survey from Jibun Bank showed on Friday with a manufacturing PMI score of 46.6.

That's up from 45.2 in June, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.

The survey also showed that the services PMI fell to 45.0 from 45.4 in June, while the composite PMI was unchanged at 44.9.

Individually, output, new orders, new export orders, employment, backlogs of work, output prices, input prices and future output all remained in contraction territory.

News are provided by InstaForex
 
New Zealand Retail Sales Plummet In Q2 Lockdown

Retail sales values in New Zealand tumbled 15 percent on quarter in the second quarter of 2020 during the Covid-19 lockdown, Statistics New Zealand said on Monday - marking the largest drop on record going back 25 years.

The total volume of retail sales dropped 14 percent on quarter.

Individually, declines were led by food and beverage services, down 40 percent (NZ$1.2 billion); fuel retailing, down 35 percent (NZ$770 million); motor vehicle and parts retailing, down 22 percent (NZ$729 million); and accommodation, down 44 percent (NZ$418 million).

News are provided by InstaForex
 
South Korea Consumer Confidence Improves In August

South Korea's consumer confidence improved for the fourth straight month in August, survey results from Bank of Korea showed on Tuesday.

The consumer confidence index rose to 88.2 in August from 84.2 in July.

The indicator measuring current living standards remained unchanged at 85 in August, while that concerning the outlook for living standards rose two points to 89.

Consumer sentiment related to future household income increased two points to 92 and future spending index grew four points to 99.

Consumer sentiment concerning current domestic conditions and future domestic economic conditions rose five points each to 54 and 75.

The expected inflation rate for the following year was 1.8 percent versus 1.7 percent a month ago.

The survey was conducted among 2,500 households between August 10 and 14.

News are provided by InstaForex
 
European Economics Preview: French Consumer Confidence Data Due

Consumer sentiment data from France is due on Wednesday, headlining a light day for the European economic news.

At 2.00 am ET, unemployment data is due from Statistics Norway. The jobless rate is forecast to rise to 4.7 percent in June.

At 2.45 am ET, the French statistical office Insee publishes consumer sentiment survey data for August. The consumer confidence index is expected to remain unchanged at 94. At 4.00 am ET, Swiss ZEW expectations survey data is due.

At 5.00 am ET, Iceland's central bank announces its interest rate decision.

News are provided by InstaForex
 
South Korea Keeps Rate Unchanged; Cuts GDP Outlook

South Korea's central bank left its key interest rates unchanged at a record low and downgraded its GDP outlook as authorities enhanced coronavirus containment measures.

The Monetary Policy Board of the Bank of Korea decided to hold its key policy rate at 0.50 percent. As economic growth is expected to be sluggish and inflationary pressures on the demand side are forecast to remain weak due to the covid-19 pandemic, the Board will maintain its accommodative monetary policy stance, the bank said in a statement on Thursday.

Policymakers observed that the recovery of domestic growth is likely to be slower than previously forecast due to the domestic resurgence of Covid-19.

The bank forecast the economy to shrink 1.3 percent this year instead of 0.2 percent projected previously. Uncertainties around the future path of GDP growth are also judged to be very high, the bank said.

At the same time, inflation outlook was lifted to 0.4 percent from 0.3 percent.

It is forecast that consumer price inflation and core inflation will run at the mid-zero percent level this year, reflecting prolonged effects from the drop in global oil prices and weak demand-side inflationary pressures.

With little space left for more policy rate cuts, the BoK is more likely to turn to unconventional measures, Alex Holmes, an economist at Capital Economics, said.

Given that the Bank has already made a vague commitment to reduce "excess volatility" in long term bond yields, the most likely next step is an explicit yield target, which would be more effective in driving down long-term yields and supporting the economy, Holmes added.

News are provided by InstaForex
 
Japan Inflation Eases In August

Japanese Tokyo inflation eased in August after rising in the previous month, data from the Ministry of Internal Affairs showed on Friday.

The consumer price index increased 0.3 percent year-on-year in August, slower than 0.6 percent rise July. In June, inflation was 0.3 percent.

Core CPI fell 0.3 percent in August, after a 0.4 percent rise in the previous month. Economists had expected a 0.3 percent rise.

On a monthly basis, core prices fell 0.6 percent in August, after a 0.3 percent rise in the prior month. Excluding fresh food and energy, consumer prices fell 0.7 percent monthly, after a 0.3 percent increase in July.

On a seasonally adjusted basis, consumer prices fell 0.4 percent in August, reversing a 0.3 percent rise in the preceding month.

News are provided by InstaForex
 
Australia Private Sector Credit Eases 0.1% In July

6.jpg


Total private sector credit in Australia was down 0.1 percent on month in July, the Reserve Bank of Australia said on Monday - following the 0.2 percent decline in June.

On a yearly basis, private sector credit advanced 2.4 percent - slowing from the 2.9 percent gain in the previous month.

Individually, housing credit was up 0.2 percent on month and 3.1 percent on year, while personal credit tumbled 1.8 percent on month and 12.1 percent on year and business credit fell 0.6 percent on month and gained 3.7 percent on year.

Broad money was up 0.9 percent on month and 10.7 percent on year.

News are provided by
InstaForex.
 
Aussie Slightly Up After RBA Decision

The Reserve Bank of Australia kept its benchmark lending rate at 0.25 percent, as expected. Following the announcement, the aussie rose slightly against its major rivals.

The aussie was trading at 78.21 against the yen, 1.6197 against the euro, 0.7405 against the greenback and 1.0956 against the kiwi around 12:34 am ET.

News are provided by InstaForex
 
Australia GDP Slides 7.0% In Q2, Into Recession

2.jpg


Australia's gross domestic product was down a seasonally adjusted 7.0 percent on quarter in the second quarter of 2020, the Australian Bureau of Statistics said on Wednesday.

That missed expectations for a fall of 5.9 percent following the 0.3 percent decline in the three months prior, sending the country into recession.

On a yearly basis, GDP dropped 6.3 percent versus forecasts for a decline of 5.2 percent after rising 1.4 percent in Q1.

Capital expenditure dropped 4.9 percent on quarter after falling 0.8 percent in the previous three months. Final consumption tumbled 8.1 percent on quarter after sinking 0.4 percent in Q1.

News are provided by
InstaForex.
 
Hong Kong PMI Eases In August - IHS Markit

Private sector business conditions in Hong Kong continued to worsen in August, and at a faster rate, the latest survey from IHS Markit revealed on Thursday with a PMI score of 44.0.

That's down from 44.5 in July and it moves farther beneath the boom-or-bust line of 50 that separates expansion from contraction.

Individually, output and new orders fell as faster rates, while supply chains remained under pressure. Business expectations remained negative.

Further tightening of virus-fighting measures, including new limits on the size of public gatherings, dealt another blow to the private sector, with retail, entertainment and food establishments hit particularly hard.

News are provided by InstaForex
 
PHILIPPINES INFLATION CLIMBS 2.4% ON YEAR IN

Consumer prices in the Philippines were up 2.4 percent on year in August, the National Statistics Office said on Friday - shy of expectations for 2.8 percent and down from 2.7 percent in July.

On a monthly basis, inflation eased 0.2 percent after rising 0.5 percent in the previous month.

Core CPI gained an annual 3.1 percent, slowing from 3.3 percent a month earlier.

The bureau also said that industrial production in the Philippines plummeted 14.8 percent on year in August after sinking 16.0 percent in July.

News are provided by InstaForex
 
EUROPEAN ECONOMICS PREVIEW: GERMANY INDUSTRIAL OUTPUT DATA DUE

Industrial production from Germany is due on Monday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis is slated to issue Germany's industrial output data for July. Economists forecast production to grow 4.7 percent on month, slower than the 8.9 percent increase in June.

In the meantime, industrial output from Norway and foreign trade figures from Finland are due.

At 2.45 am ET, France current account data for July is due.

At 3.00 am ET, the Czech Statistical Office is scheduled to publish industrial production and foreign trade figures for July. Industrial output is expected to fall 7.2 percent on year, smaller than the 11.9 percent decrease in June.

Half an hour later, the UK Halifax house price data is due.

At 4.30 am ET, Eurozone Sentix investor confidence survey data is due. The investor sentiment index is seen at -10.5 in September versus -13.4 in August.

News are provided by InstaForex
 
EUROPEAN ECONOMICS PREVIEW: GERMANY FOREIGN TRADE DATA DUE

Foreign trade data from Germany and revised GDP data from euro area are due on Tuesday, headlining a light day for the European economic news. At 2.00 am ET, Destatis is slated to issue Germany's foreign trade data for July. Exports are forecast to grow 5 percent on month and imports to grow 3.3 percent. At 2.45 am ET, France's external trade data is due for July. The deficit totaled EUR 8 billion in June.

At 3.00 am ET, foreign trade figures are due Hungary and Austria. Hungary's trade surplus is seen at EUR 235 million in July.

Half an hour later, Statistics Sweden publishes industrial production and new orders data.

At 4.00 am ET, Italy's Istat releases retail sales figures for July. Sales had increased 12.1 percent on month in June.

At 5.00 am ET, Eurostat publishes euro area revised GDP data. The statistical office is expected to confirm 12.1 percent sequential fall in the second quarter.

News are provided by InstaForex
 
NEW ZEALAND Q2 MANUFACTURING VOLUME SINKS 12%

The volume of total manufacturing sales in New Zealand was down 12 percent on year in the second quarter of 2020, Statistics New Zealand said on Wednesday.

The value of manufacturing sales dropped an annual 9.5 percent, while the volume of total manufacturing finished goods stocks fell 2.1 percent.

The total wholesale trade sales value declined 10 percent on year toNZ$2.7 billion, while the total value of wholesales trade stocks was down 1.6 percent on year or NZ$206 million to NZ$13 billion.

News are provided by InstaForex
 
JAPAN PRODUCER PRICES RISE 0.2% ON MONTH IN AUGUST

Producer prices in Japan were up 0.2 percent on month in August, the Bank of Japan said on Friday - in line with forecasts and down from 0.8 percent in July.

On a yearly basis, producer prices fell 0.5 percent - again matching expectations following the 0.9 percent decline in the previous month.

Export prices were up 0.4 percent on month and down 1.5 percent on year in August, the bank said, while import prices gained 1.2 percent on month but tumbled 10.9 percent on year.

News are provided by InstaForex
 
Will the US dollar weaken against major currencies in September?

Almost all majors form reversal patterns relative to the US dollar. EUR/USD and NZD/USD have already created conditions for purchases. You should pay attention to the USD/CAD pair which already allows you to open deals to buy the Canadian dollar. When looking at the dollar index, it is important to note that it is trading within the accumulation zone. If all majors continue to form reversal patterns, the index will be retested by the WCZ 1/2 92.68-92.59. To form a reversal pattern on the index, you will need to push through this zone and fix it below it. While the index is trading within the correction, it is worth partially fixing purchases for the main currency pairs. The probability of corrective movements and a slight strengthening of the dollar is possible after a repeated test of the control zone. The model is planned to be implemented within the current week.

Strong demand in the WCZ 1/2 test indicates that major players are interested in this mark. The second test will be crucial for the movement in the second half of September. Those who trade the index, you need to prepare for re-entering the buy or the hold already open. For those who work with majors, it is necessary to take this into account when partially fixing profit transactions.

News are provided by InstaForex
 
AUSTRALIA HOUSE PRICES DROP IN Q2

Australia's house prices declined for the first time in a year in the second quarter, data from the Australian Bureau of Statistics showed Tuesday.

House prices fell 1.8 percent on a yearly basis in the June quarter, reversing a 1.6 percent rise in March quarter. This was the first decline since June 2019.

The falls in residential property prices were led by the Sydney and Melbourne property markets.

Head of Prices Statistics at the ABS, Andrew Tomadini, said "All capital cities apart from Canberra recorded falls in property prices in the June quarter 2020".

On a yearly basis, house prices were up 6.2 percent with rises in all capital cities except Perth and Darwin.

"The number of residential property transactions fell substantially in the eight capital cities during the June quarter 2020, due to the effects of COVID-19 on the property market", said Tomadini.

News are provided by InstaForex
 
EUROPEAN ECONOMICS PREVIEW: UK CONSUMER PRICE DATA DUE

Consumer and producer prices from the UK are due on Tuesday, headlining a light day for the European economic news.

At 2.00 am ET, the Office for National Statistics is set to publish UK consumer and producer prices for August. Inflation is forecast to ease to 0.1 percent from 1 percent in July.

Economists forecast UK output prices to fall 0.7 percent annually, following a 0.9 percent decline a month ago. Likewise, the decline in input prices is expected to slow to 4.9 percent from 5.7 percent.

At 3.00 am ET, the Czech Statistical Office issues producer prices for August. Prices are expected to drop 0.1 percent on year.

At 4.30 am ET, the Office for National Statistics releases UK house price data for June.

Half an hour later, Eurostat publishes external trade data for July. The euro area trade surplus is seen at EUR 12.6 billion versus EUR 21.2 billion in June.

News are provided by InstaForex
 
EUROPEAN ECONOMICS PREVIEW: BANK OF ENGLAND POLICY ANNOUNCEMENT DUE

The Bank of England is set to announce the outcome of its monetary policy meeting on Thursday, headlining a busy day for the European economic news.

At 2.00 am ET, the European Automobile Manufacturers' Association is slated to publish Europe's new car registration data for July/August. In the meantime, August foreign trade data is due from Switzerland. The surplus totaled CHF 2.58 billion in July.

At 3.00 am ET, HICP figures are due from Austria and Slovakia.

At 4.00 am ET, gross wages from Poland and foreign trade from Italy are due. Economists forecast Poland's gross wages to climb 4 percent on year in August versus a 3.8 percent rise in July.

At 5.00 am ET, Eurostat is scheduled to issue euro area final consumer price data for August. According to preliminary estimate, consumer prices had dropped 0.2 percent annually, reversing a 0.4 percent rise in July.

At 7.00 am ET, the BoE releases the monetary policy summary and the minutes of the monetary policy committee meeting. Economists expect the bank to hold its key rate at a record low 0.10 percent and asset purchase programme at GBP 745 billion.

News are provided by InstaForex
 
JAPAN OVERALL INFLATION SLOWS TO 0.2% ON YEAR IN AUGUST

Overall nationwide consumer prices in Japan were up 0.2 percent on year in August, the Ministry of Internal Affairs and Communications said on Friday - in line with expectations and slowing from 0.3 percent in July.

Core CPI, which excludes volatile food costs, sank an annual 0.4 percent - again matching forecasts following the flat reading in the previous month.

Individually, prices were down for fuel, education and recreation - while prices were higher for food, housing, furniture, clothing and medical care.

On a seasonally adjusted monthly basis, overall inflation slipped 0.1 percent and core CPI dropped 0.4

News are provided by InstaForex
 
You must log in or register to reply here.
Back
Top