Forex News from InstaForex

[IFX Gertrude]

Indian Rupee Falls To 11-day Low Against U.S. Dollar



The Indian rupee weakened against the U.S. dollar in the morning deals on Tuesday. Against the greenback, the rupee fell to an 11-day low of 58.9705, from yesterday's closing quote of 58.7350. If the rupee extends its slide, it is likely to find support around the 59.57 zone. The rupee is seeing a pullback after its recent rally, triggered by the election of Narendra Modi as India's 15th Prime Minister. Modi was sworn in as the country's executive head yesterday and the swearing in ceremony was attended by heads of neighboring countries, industrialist and celebrities among others.


News are provided by InstaForex.

[IFX Gertrude]

Indian Rupee Slips To Nearly 2-week Low Against U.S. Dollar



The Indian rupee dropped against the U.S. dollar in the morning deals on Wednesday. Against the greenback, the rupee fell to nearly a 2-week low of 59.2100, down from yesterday's closing quote of 58.9800. If the rupee extends its downtrend, it is likely to find support around the 59.70 area.

News are provided by InstaForex.

[IFX Gertrude]

Philippine Q1 GDP Growth Slows; Trails Expectations



The Philippine economy grew at a slower-than-expected rate in the first quarter of 2014, figures from the National Statistical Coordination Board showed Thursday.

Gross domestic product for the first quarter rose 5.7 percent year-over-year, trailing expectations of a 6.4 percent increase. This follows the revised 6.3 percent rise in the previous quarter.

The industry sector, one of the three major sectors contributing to the GDP, grew at a year-over-year rate of 5.5 percent in the first quarter, lower by 11.3 percent compared to the same quarter of the previous year and 7.6 percent compared to the previous quarter.

The services sector contributed 3.8 percentage points to the GDP growth, followed by the industry sector and the agriculture sector contributing 1.8 and 0.1 percentage points, respectively.

The gross national income grew by 7.6 percent owing to an increase of 17.3 percent in the net primary income from the rest of the world.

News are provided by InstaForex.

[IFX Gertrude]

UK Consumer Confidence Hits Nine-Year High



An index measuring consumer sentiment in the United Kingdom came in with a score of 0 in May, polling company GfK said on Friday.

That beat forecasts for a score of -2 and was up from -3 in April. The May reading represents a nine-year high score for the index.

Also on Friday, property tracking website Hometrack said that house prices in the UK were up 0.5 percent on month and 6.1 percent on year.

That follows the 0.6 percent monthly increase and the 6.0 percent yearly gain in April.

News are provided by InstaForex.

[IFX Gertrude]

Singapore Dollar Off Multi-week Low Against U.S. Dollar



The Singapore dollar trimmed its early losses against the U.S. dollar in Asian deals on Tuesday. The Singapore dollar that fell to a multi-week low of 1.2571 against the greenback in early deals reversed direction with pair trading around 1.2556. The pair was worth 1.2569 at yesterday's close.

News are provided by InstaForex.

[IFX Gertrude]

Malaysian Ringgit Falls To Near 3-week Low Against U.S. Dollar



The Malaysian Ringgit lost ground against the U.S. dollar in Asian deals on Wednesday. The ringgit fell to 3.2370 against the greenback, its weakest since May 14. On the downside, the ringgit may find support around the 3.24 zone. At yesterday's close, the pair was quoted at 3.2305.

News are provided by InstaForex.

[IFX Gertrude]

Philippines Producer Prices Rise For Second Month



Philippine producer prices increased for the second straight month in April, led by the higher uptick of petroleum products, figures from the National Statistical Office showed Thursday. The producer price index rose 0.1 percent year-on-year in April, slower than March's revised 0.3 percent increase. In February , prices fell 0.6 percent. Prices of petroleum products jumped 13.6 percent annually in April. Cost of food manufacturing and electrical machinery also grew by 4.5 percent and 4.0 percent, respectively. At the same time, prices of furniture and fixtures logged a sharp decline of 27.9 percent. On a monthly basis, producer prices dropped 0.5 percent in April, in contrast to the 0.2 percent growth in the previous month.

News are provided by InstaForex.

[IFX Gertrude]

New Zealand House Prices Continue To Rise In May



House prices in New Zealand continued to rise for the second consecutive month in May while sales volume declined, figures from Quotable Value, QV, showed Friday. The QV Residential Price Movement Index rose 8.2 percent year-over-year in May. The index stood 13.9 percent higher than the previous market peak of 2007. After adjusting for inflation, house prices fell 6.6 percent year-over-year and remained 2.2 percent below the 2007 peak. "Sales volumes around the country are 10 to 15 percent lower than they were this time last year which could be a normal winter seasonal effect but it could also be a precursor to values dropping," said QV National Spokesperson Andrea Rush. "The LVR lending restrictions continue to have an effect in many of the regions with activity significantly slower at the entry level end of the market."

News are provided by InstaForex.

[IFX Gertrude]

Australian Dollar Climbs Against Most Majors



The Australian dollar advanced against most major currencies in early Asian deals on Monday. The aussie hit 95.91 against the yen for the first time since May 14. The aussie that closed Friday's deals at 0.9327 against the greenback and 1.0196 against the loonie rose to 0.9350 and 1.0224, respectively. The aussie edged up to 1.4590 against the euro, compared to last week's closing quote of 1.4606. If the aussie extends gain, it may face resistance around 0.94 against the greenback, 97.4 against the yen, 1.45 against the euro and 1.035 against the loonie.

News are provided by InstaForex.

[IFX Gertrude]

Philippine Export Growth Weakens Sharply In April



Philippines merchandise export growth weakened considerably in April, defying expectations for a strong increase , preliminary figures from the Philippine Statistical Authority showed Tuesday.

Total exports of the country advanced 0.8 percent year-on-year in April, after a 12.4 percent climb in the previous month, well below economists' forecast for 10.0 percent of growth.

Shipments of electronic products dropped 2.5 percent annually in April. A year ago, exports of this category of goods had risen 12.2 percent. Exports of other manufactured products also declined by 12.2 percent. Meanwhile, exports of processed food and beverages jumped 110.1 percent in April and that of other mineral products by 30.9 percent.

In the first four month period, total merchandise exports expanded 5.4 percent to $ 18.859 billion from $17.894 billion in the same period last year.

News are provided by InstaForex.