Forex News from InstaForex

[IFX Gertrude]

CHINESE YUAN RISES TO NEAR 2-WEEK HIGH AGAINST U.S. DOLLAR



The Chinese yuan strengthened against the U.S. dollar in the Asian session on Monday, as Chinese market reopened after China's Golden Week holiday.

Against the greenback, the yuan rose to nearly a 2-week high of 7.2940 from a recent high of 7.3021.

If the yuan extends its uptrend, it is likely to find resistance around the 7.24 region.

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[IFX Gertrude]

JAPAN HAS Y2.279 TRILLION CURRENT ACCOUNT SURPLUS IN AUGUST



Japan posted a current account surplus of 2.279 trillion yen in August, the Ministry of Finance said on Tuesday.

That was shy of expectations for a surplus of 3.091 trillion yen following the 2.771 trillion yen surplus in July.

Exports were down 2.6 percent on year at 7.893 trillion yen, while imports slumped an annual 18.2 percent to 8.643 trillion yen for a trade deficit of 749.5 billion yen.

The capital account showed a deficit of 6.4 billion yen, while the financial account had a surplus of 2.987 trillion yen.

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[IFX Gertrude]

SOUTH KOREA HAS $4.81 BILLION CURRENT ACCOUNT SURPLUS IN AUGUST



South Korea posted a current account surplus of $4.81 billion in August, the Bank of Korea said on Wednesday - up from $3.58 billion in July.

The goods account recorded a $5.06 billion surplus, while the services account posted a $1.60 billion deficit owing to a deficit in the travel account.

The primary income account recorded a $1.47 billion surplus due to an increase in interest income. The secondary income account recorded a $0.12 billion deficit.

Looking at the financial account, net assets increased by $5.73 billion during August. Direct investment assets increased by $3.41 billion, and direct investment liabilities increased by $1.70 billion.

There was a $3.05 billion increase in portfolio investment assets during the month, and a $1.01 billion decrease in portfolio investment liabilities.

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[IFX Gertrude]

EUROPEAN ECONOMIC NEWS PREVIEW: UK GDP DATA DUE



GDP, industrial production and foreign trade from the UK are due on Thursday, headlining a light day for the European economic news.

At 2.00 am ET, the Office for National Statistics publishes UK GDP, industrial output and foreign trade figures. The economy is forecast to grow 0.2 percent on month in August, in contrast to the 0.5 percent decrease in July.

At 4.30 am ET, the Bank of England publishes Credit Conditions survey results.

At 6.00 am ET, consumer price figures are due from Ireland and Portugal.

At 7.30 am ET, the European Central Bank releases the account of the monetary policy meeting of the Governing Council held on September 13 and 14.

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[IFX Gertrude]

CHINA EXPORTS FALL LESS THAN EXPECTED



China's exports declined less than expected in September, data from the General Administration of Customs showed on Friday.

Exports registered a decrease of 6.2 percent in September compared to the previous year. This was slower than the expected decline of 7.6 percent and the 8.8 percent fall seen in August.

At the same time, imports also decreased 6.2 percent annually, slower than the 7.3 percent fall in August. Imports were forecast to drop 6.0 percent.

Consequently, the trade surplus rose to $77.7 billion from $68.4 billion in August. The expected level was $70.0 billion.

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[IFX Gertrude]

CHINESE YUAN FALLS TO NEAR 3-WEEK LOW AGAINST U.S. DOLLAR



The Chinese yuan weakened against the U.S. dollar in the Asian session on Monday.

Against the greenback, the yuan fell to nearly a 3-week low of 7.3098 from Friday's closing value of 7.3049.

If the yuan extends its downtrend, it is likely to find support around the 7.33 region.

The Chinese central bank sets central parity rate every morning and allows the yuan to fluctuate up to 2 percent from that level.

News are provided by
InstaForex.

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[IFX Gertrude]

CHINESE YUAN FALLS TO NEAR 3-WEEK LOW AGAINST U.S. DOLLAR



The Chinese yuan weakened against the U.S. dollar in the Asian session on Monday.

Against the greenback, the yuan fell to nearly a 3-week low of 7.3098 from Friday's closing value of 7.3049.

If the yuan extends its downtrend, it is likely to find support around the 7.33 region.

The Chinese central bank sets central parity rate every morning and allows the yuan to fluctuate up to 2 percent from that level.

News are provided by
InstaForex.

Read More https://ifxpr.com/3M3IxV9

[IFX Gertrude]

EUROPEAN ECONOMIC NEWS PREVIEW: UK UNEMPLOYMENT DATA DUE



Unemployment from the UK and economic sentiment from Germany are the top economic news due on Tuesday.

At 2.00 am ET, the Office for National Statistics is scheduled to issue UK labor market statistics. The jobless rate is seen unchanged at 4.3 percent in three months to August. At the same time, average earnings growth including bonus are forecast to grow at a slower pace of 8.3 percent after an increase of 8.5 percent in three months to July.

At 5.00 am ET, Germany's ZEW economic confidence survey data is due. The confidence index is forecast to improve to -9.3 in October from -11.4 in September. At 7.50 am ET, European Central Bank's supervisory board member Kerstin af Jochnick is set to speak at a conference in Berlin.

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[IFX Gertrude]

EUROPEAN ECONOMIC NEWS PREVIEW: UK UNEMPLOYMENT DATA DUE



Unemployment from the UK and economic sentiment from Germany are the top economic news due on Tuesday.

At 2.00 am ET, the Office for National Statistics is scheduled to issue UK labor market statistics. The jobless rate is seen unchanged at 4.3 percent in three months to August. At the same time, average earnings growth including bonus are forecast to grow at a slower pace of 8.3 percent after an increase of 8.5 percent in three months to July.

At 5.00 am ET, Germany's ZEW economic confidence survey data is due. The confidence index is forecast to improve to -9.3 in October from -11.4 in September. At 7.50 am ET, European Central Bank's supervisory board member Kerstin af Jochnick is set to speak at a conference in Berlin.

News are provided by
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[IFX Gertrude]

CHINA GDP CLIMBS 4.9% ON YEAR IN Q3



China's gross domestic product expanded an annualized 4.9 percent on year in the third quarter of 2023, the National Bureau of Statistics said on Wednesday.

That beat forecasts for a gain of 4.4 percent but was still down from the 6.3 percent growth in the second quarter.

On a seasonally adjusted quarterly basis, GDP gained 1.3 percent - again exceeding expectations for 1.0 percent following the 0.5 percent increase in the three months prior.

The bureau also noted that industrial production was up 4.5 percent on year, beating forecasts for 4.3 percent and unchanged from the August reading.

Retail sales rose an annual 5.5 percent, topping expectations for a gain of 4.5 percent and up from 4.6 percent in the previous month.

Fixed Asset Investment rose 3.1 percent on year, missing forecasts for 3.2 percent, which would have been unchanged from August.

The jobless rate came in at 5.0 percent, below forecasts for 5.2 percent, which would have been unchanged.

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