Forex News from InstaForex

[IFX Gertrude]

Fitch Retains Austria's Rating At 'AA+'



Fitch Ratings affirmed sovereign ratings of Austria at 'AA+' with stable outlooks late Friday.

The rating agency said the economic growth is expected to remain on a steady upward trend and average 1.6 percent in 2016-17 after four years of sluggish activity.

The underlying growth is forecast to pick up in 2017 as investment continues its steady recovery and net exports make a positive contribution to growth.

The fiscal deficit was better than expected in 2015 at 1.1 percent of GDP compared with a 1.9 percent target, Fitch said.

Further, the agency estimates Austria's fiscal policy to remain prudent, producing small primary general government surpluses during 2016-2018.

News are provided byInstaForex.

[IFX Gertrude]

Japan Bank Lending +2.1% On Year In July



Overall bank lending in Japan was up 2.1 percent on year in July, the Bank of Japan said on Monday - standing at 499.590 trillion yen.

That was above forecasts for 2.0 percent, which would have been unchanged from the June reading.

Excluding trusts, bank lending also added an annual 2.1 percent to 434.309 trillion yen. That also was above expectations for 2.0, which would have been unchanged.

Lending from trusts climbed 2.3 percent for the second straight month.

News are provided byInstaForex.

[IFX Gertrude]

Oil Prices Climb on Revived Output Restrain Talks by OPEC Members



Oil prices advanced on Monday, elevating on reports of revived talks by some members of the Organization of the Petroleum Exporting Countries to curb output.

U.S. WTI crude oil futures climbed 0.5% from their last close, up by 21 cents at $42.01 per barrel while Brent crude futures were up 0.29% by 13 cents at $44.40 per barrel.

The increase in prices were brought on by the renewed calls by several OPEC members to halt production in an effort to restrain output that is persistently outpacing demand. OPEC members including Kuwait, Ecuador and Venezuela are perceived to be behind the renewed talks according to analysts. However, sentiment is continued to be weighed down by the increase in U.S. drilling with rigs operating in the country reported to be currently at its highest number since March.

News are provided byInstaForex.

[IFX Gertrude]

China CPI +1.8% On Year In July



Consumer prices in China were up 1.8 percent on year in July, the National Bureau of Statistics said on Tuesday.

That was in line with expectations and down from 1.9 percent in June.

Prices for food jumped an annual 3.3 percent, while non-food prices added 1.4 percent.

The bureau also said that producer prices were down 1.7 percent on year - exceeding expectations for -2.0 percent after tumbling 2.6 percent in the previous month.

News are provided byInstaForex.

[IFX Gertrude]

U.S. Stocks Retreat From Record Highs



U.S. equities climbed down from record highs on Monday as losses in healthcare shares pared gains due to elevated oil prices and a strong performance by the U.S. jobs market in July.

The benchmark S&P 500 touched a record intraday high at the beginning of trading day before closing down at 0.09% at 2.180. 89 while the Dow Jones industrial average was down 0.08%, closing at 18, 529.29. The Nasdaq Composite fell 0.15% to 5, 213.14.

Seven out of the 10 key S&P indexes slid, with the healthcare group leading the losses. Bristol-Myers led the drop and fell for the second day, losing 4.71% following its statement on Friday that its lung-cancer treatment drug did not pass a vital late-stage study.

Meanwhile, the energy index advanced 1.22% with Exxon Mobil and Schlumberger climbing 1.18% and 1.6% respectively.

News are provided byInstaForex.

[IFX Gertrude]

Australia Home Loans Add Just 1.2% In June



The total number of dwelling commitments in Australia issued in June was up a seasonally adjusted 1.2 percent on month, the Australian Bureau of Statistics said on Wednesday - coming in at 57,247.

The headline figure was shy of estimates for an increase of 2.3 percent following the upwardly revised 0.8 percent contraction in May (originally -1.0 percent).

Investment lending climbed 3.2 percent to A$11.785 billion after rising 5.3 percent in the previous month.

News are provided byInstaForex.

[IFX Gertrude]

Australia Home Loans Add Just 1.2% In June



The total number of dwelling commitments in Australia issued in June was up a seasonally adjusted 1.2 percent on month, the Australian Bureau of Statistics said on Wednesday - coming in at 57,247.

The headline figure was shy of estimates for an increase of 2.3 percent following the upwardly revised 0.8 percent contraction in May (originally -1.0 percent).

Investment lending climbed 3.2 percent to A$11.785 billion after rising 5.3 percent in the previous month.

News are provided byInstaForex.

[IFX Gertrude]

Dollar Surges to One-Month High Amid Mixed Economic Data



Following mixed U.K. economic data, the dollar has surged to its highest close since July 8 by 0.3 percent against the British pound. The WSJ Dollar Index has dropped to 0.3 percent with 86.63 while the dollar decreased against the Canadian dollar and the Japanese Yen.

A business survey from the U.K. has indicated that the like-for-like sales have grown by 1.1 percent in July however manufacturing data was lower-than-expected while trade gap is expanding. The dollar has prolonged declines against currencies of emerging markets which remain strong, implying that investors believe that the Fed will not raise rates in the upcoming term.

The dollar has reached its lowest level last seen in July 2015 when it was weak against the Brazilian real by 0.9 percent, down by 0.6 percent against the Mexican peso and fell by 1.1 percent against the South African rand.

News are provided byInstaForex.

[IFX Gertrude]

Singapore GDP Climbs +2.1% On Year In Q2



Singapore's gross domestic product expanded 2.1 percent on year in the second quarter of 2016, the Ministry of Trade and Industry said on Thursday - accelerating from the 1.8 percent gain in the three months prior.

On a quarterly annualized basis, the Singapore economy expanded 0.3 percent - up from 0.2 percent in the previous three months.

Upon the release of the data, the MTI narrowed its GDP forecast for 2016 to 1 to 2 percent from 1 to 3 percent.

News are provided byInstaForex.

[IFX Gertrude]

New Zealand’s Central Bank Slashes Interest Rates



The Reserve Bank of New Zealand lowered interest rates to a new record low of 2 percent as it aims to combat the persistently low inflation and to cool down the strong New Zealand dollar.

The New Zealand central bank's decision to cut the key interest rate by 25 basis point was highly expected by analysts. But the move had a little effect on easing the kiwi dollar that rose 1.8 percent to a one-year record high of 73.36 U.S. cents on the reports of the rate cut. This is the second rate cut within the year after an unexpected rate cut in March.

RBNZ also indicated that additional easing with be launched based on their present projections and speculations in order to ensure that inflation rate will be near the middle of the targeted range.

News are provided byInstaForex.