Forex News from InstaForex

[IFX Gertrude]

Euro escalates ahead of US jobs data



The euro lost its ground Thursday, a day before the US jobs data that may affect the Federal Reserve's timing of raising interest rates this year. Traders are anticipating the nonfarm payrolls data, which many of them believe the figures may give a clearest picture of the overall US economy. Against the US dollar, the common currency closed at $1.1196. Thursday's move emphasizes the uncertainty encompassing the market “regarding the Fed's timing,” said Joe Manimbo, Senior Market Analyst at Western Union.

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[IFX Gertrude]

Australia Job Ads Rise At Faster Rate In September l



Job advertisements in Australia climbed for the second straight month in September at a faster pace, latest survey from the Australian and New Zealand Banking Group revealed Monday. Total job ads rose a seasonally adjusted 3.9 percent month-over-month in September, much faster than the 1.3 percent increase in August. In July, ads had fallen 0.4 percent. Internet job ads also grew at a faster pace of 4.0 percent monthly in September, following a 1.3 percent rise in the previous month. Meanwhile, newspaper ads fell 2.7 percent over the prior month, marking its first drop in three months. On an annual basis, job ads surged 10.5 percent in September, slightly slower than August's 10.7 percent growth. "The positive trend in job advertising is a sign that the economy is so far adjusting relatively well to significant headwinds from falling commodity prices and mining investment," ANZ Chief Economist Warren Hogan, said. "While we expect momentum in non-mining activity to remain quite good in the near-term, our view is that the significant support to growth from the factors above will wane heading into 2016." "For this reason, we expect employment growth to remain reasonably healthy over the remainder of 2015 but to then soften next year. This is likely to prompt the Reserve Bank to provide a little more monetary policy support to prevent the unemployment rate from rising further."

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[IFX Gertrude]

Australia Job Ads Rise At Faster Rate In September l



Job advertisements in Australia climbed for the second straight month in September at a faster pace, latest survey from the Australian and New Zealand Banking Group revealed Monday. Total job ads rose a seasonally adjusted 3.9 percent month-over-month in September, much faster than the 1.3 percent increase in August. In July, ads had fallen 0.4 percent. Internet job ads also grew at a faster pace of 4.0 percent monthly in September, following a 1.3 percent rise in the previous month. Meanwhile, newspaper ads fell 2.7 percent over the prior month, marking its first drop in three months. On an annual basis, job ads surged 10.5 percent in September, slightly slower than August's 10.7 percent growth. "The positive trend in job advertising is a sign that the economy is so far adjusting relatively well to significant headwinds from falling commodity prices and mining investment," ANZ Chief Economist Warren Hogan, said. "While we expect momentum in non-mining activity to remain quite good in the near-term, our view is that the significant support to growth from the factors above will wane heading into 2016." "For this reason, we expect employment growth to remain reasonably healthy over the remainder of 2015 but to then soften next year. This is likely to prompt the Reserve Bank to provide a little more monetary policy support to prevent the unemployment rate from rising further."

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[IFX Gertrude]

Australia Job Ads Rise At Faster Rate In September l



Job advertisements in Australia climbed for the second straight month in September at a faster pace, latest survey from the Australian and New Zealand Banking Group revealed Monday. Total job ads rose a seasonally adjusted 3.9 percent month-over-month in September, much faster than the 1.3 percent increase in August. In July, ads had fallen 0.4 percent. Internet job ads also grew at a faster pace of 4.0 percent monthly in September, following a 1.3 percent rise in the previous month. Meanwhile, newspaper ads fell 2.7 percent over the prior month, marking its first drop in three months. On an annual basis, job ads surged 10.5 percent in September, slightly slower than August's 10.7 percent growth. "The positive trend in job advertising is a sign that the economy is so far adjusting relatively well to significant headwinds from falling commodity prices and mining investment," ANZ Chief Economist Warren Hogan, said. "While we expect momentum in non-mining activity to remain quite good in the near-term, our view is that the significant support to growth from the factors above will wane heading into 2016." "For this reason, we expect employment growth to remain reasonably healthy over the remainder of 2015 but to then soften next year. This is likely to prompt the Reserve Bank to provide a little more monetary policy support to prevent the unemployment rate from rising further."

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[IFX Gertrude]

US dollar holds losses as traders pare back rate bets



The US dollar nursed losses Monday as disappointing US jobs data made investors scale back bets the Federal Reserve was on course to increase interest rates as early as this month. Last week, the nonfarm payrolls report showed the US employers added only 142,000 jobs in September. The greenback finished at $1.1233 from Friday's $1.1319. Against the Japanese yen, the currency closed at ¥120.01 from ¥118.68. “Though the Fed anticipated to defer its first rate hike until the first quarter of 2016, we still believe “the US economy is one of the few capable of generating inflation due to a relative tight labour market,” said strategists at Barclays. Uncertainty regarding the Fed's timing of rate increase has kept the currency locked in ranges although the US central bank is still expected to be the first one to raise rates in the near term.

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[IFX Gertrude]

Japanese yen declines as haven demand falters on higher stocks



The Japanese yen plummeted Tuesday as a rebound in commodities and stocks dampened demand for safe haven. The currency ended at ¥120.48 per US dollar and ¥85.36 per Australian dollar. Stocks and commodities, as US rate hike bets are scaled back, noticed a “big rebound and eased risk aversion,” said Etsuko Yamashita, Chief Economist at Sumitomo Mitsui Banking Corp. Meanwhile, the Bank of Japan will commence their two-day meeting today.

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[IFX Gertrude]

Australia retains rates as Aussie alleviates commodity price plunge



Australia's central bank on Tuesday left interest rates unchanged as the Australian dollar eased the impact of commodity prices' downfall and a weaker Chinese economy. In a statement, Reserve Bank of Australia Governor Glenn Stevens said the cash rate is still at a record low of 2%. The RBA reduced the rate twice this year, in May and February. The Aussie has lost almost 9% in the second quarter. Stevens emphasized there had been further softening in China and east Asia lately, and that the currency is adjusting to the considerable declines in major commodity prices. The Aussie ended at 71.18 US cents from 70.83 US cents ahead of the rate decision.

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[IFX Gertrude]

Asian shares accelerate as Samsung beats profit projections



Asian stocks ascended on sixth day as Samsung Electronics Co. shares leaped following its quarterly profit surpassed predictions and traders anticipated Bank of Japan's monetary policy decision. The MSCI Asia Pacific Index climbed 0.2% to 129.23 in Tokyo. Samsung surged 3.8% on better than expected profit in the third quarter, as the weaker Korean won bolstered component revenue and dampened the effect of price reductions on Galaxy smartphones. Also, Japan's Topix index gained 0.2%, while South Korea's Kospi index added 0.4%. Chinese markets are still closed for a holiday, while Hong Kong is yet to resume trading.

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[IFX Gertrude]

Taiwan CPI Rises Unexpectedly In September



Taiwan's consumer prices increased unexpectedly in September, figures from the Taiwan National Statistics showed Wednesday. The consumer price index rose 0.28 percent year-over-year in September, confounding economists' expectations for a 0.5 percent fall. In August, prices had fallen the same 0.5 percent. Food prices grew 5.85 percent annually in September and health costs went up by 0.31 percent. Meanwhile, costs for transport and communication declined 6.59 percent and clothing prices dropped by 0.67 percent. On a monthly basis, consumer prices climbed 0.68 percent in September. In a separate report, the statistical office announced that wholesale prices fell at a slower pace of 8.6 percent yearly in September, following a 9.4 percent decrease in August. Economists had expected a 8.8 percent decline for the month. Prices have been falling since September last year. Month-on-month, wholesale prices edged up 0.09 percent. Import prices plunged 12.2 percent in September from a year ago, while it rose 0.07 percent from the preceding month.

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[IFX Gertrude]

Japan August Current Account Surplus Y1.653 Billion



Japan posted a current account surplus of 1.653 billion yen in August, the Ministry of Finance said on Thursday. That exceeded forecasts for a surplus of 1.226 billion yen following the 1.808 billion yen surplus in July. The trade balance came in at a deficit of 326.1 billion yen following the 108.0 billion yen shortfall in the previous month. Exports added 3.6 percent on year to 5.857 trillion yen after climbing 4.6 percent to 6.544 trillion in July. Imports slipped an annual 4.9 percent to 6.184 trillion yen after dipping 6.5 percent to 6.652 trillion yen a month earlier. The capital account reflected a shortfall of 10.1 billion yen, the ministry said, while the financial account saw a surplus of 1.938 trillion yen. The adjusted current account balance was a surplus of 1.590 trillion yen, topping expectations for 1.226 trillion yen and up from 1.321 trillion yen a month earlier.

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