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Re: Forex News from InstaForex

Postby IFX Gertrude » Thu Jul 20, 2017 10:02 pm

European Stocks Retreat as Euro Firms on Draghi Comments

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European stocks dropped as investors claim exporters will suffer due to a stronger euro, following European Central Bank President Mario Draghi's remarks which buoyed the common currency.

The pan-European Stoxx 600 Index closed 0.4 percent lower. The benchmark trimmed a gain that hit 0.5 percent prior to when Draghi said officials will discuss altering the ECB's bond-buying program.

A stronger currency has become a concern for investors amid the second-quarter earnings season, as strategists at Deutsche Bank warned that every ten percent in the euro takes five percent off the STOXX 600's earnings.

Europe's basic resources sector was the largest decliner, losing 1.9 percent, with export-heavy aerospace defense companies and autos all under pressure.

European banks fell 0.4 percent, led lower by a 5.2 percent decline in Nordea's shares. The Nordic region's largest bank by market value dropped after posting second-quarter operating earnings below analysts' estimates. Danske Bank fell 1.4 percent following its quarterly earnings.

Germany's Lufthansa led the travel and leisure sector, which tumbled 8.6 percent. British budget airline easyJet dropped almost six percent following cautious comments on the outlook for summer pricing.

Technology stocks were led higher by Ingenico Group, rising over five percent, after reports that it will buy rival Bambora for 1.5 billion euros. Tags: Eurozone, Stocks, bonds, Equity markets

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Re: Forex News from InstaForex

Postby IFX Gertrude » Sun Jul 23, 2017 9:46 pm

MERCOSUR: Bloc Could Expel Venezuela, Says Argentina Minister

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Mercosur will permanently expel Venezuela from the bloc if the country's government advances with its intentions to call for a Constituent Assembly election on July 30, said the Argentinean Foreign Minister Jorge Faurie at the sidelines of the bloc summit in Mendoza.

"Some may read it as an expelling, but at the moment we do not have to discuss if it is a suspension of this or that. We have to talk about the fact that there is no democracy in Venezuela, and we will ratify it if there is no capacity for dialogue," the chancellor told reporters.

Venezuela was suspended from Mercosur for disrespecting the bloc's regulations. Earlier, Argentina President Mauricio Macri said that Mercosur is expecting the early adoption of an electoral calendar.

President Nicol?s Maduro's opponents carried out a 24-hour national strike as a part of the "zero hour" initiative, which seeks the president's resignation.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Sun Jul 23, 2017 10:27 pm

UK Consumers Face Highest Pressure in 3 Years - IHS Markit

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The financial situation of British consumers has weakened at its quickest rate in three years in July, with families increasingly shying away from bigger purchases like automobiles, holidays and household appliances, a survey revealed.

Financial data firm IHS Markit said its monthly Household Finance Index fell to 41.8 from June's 43.7, its lowest since July 2014, which reveals a persistent squeeze on household incomes as inflation increases quicker than wages.

IHS Markit said only 27 percent of the households it surveyed expects rates to increase in the next six months, the weakest rate since October. The latest survey also revealed the willingness of households to make large purchases, which has dropped to its weakest since December 2013.

British consumer price inflation hit its highest in almost four years at nearly three percent in May, before softening in June. However, annual wage growth is less than two percent.

Official data set to be released on Wednesday is seen to show that economic growth accelerated only slightly in the three months to the end of June.

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Re: Forex News from InstaForex

Postby IFX Yvonne » Tue Jul 25, 2017 2:13 am

Australia's Consumer Confidence Strengthens

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Australia's consumer confidence improved during the week ended July 23, after falling in the previous two weeks, a weekly survey compiled by the ANZ bank and Roy Morgan Research showed Tuesday.

The consumer confidence index climbed to 115.1 from 112.5 in the preceding week. Moreover, this was the highest score since February.

The increase in confidence was driven primarily by an improvement in consumers' views towards both current and future economic conditions.

The index measuring 'time to buy a major household item' rose 1.8 percent last week. Inflation expectations were unchanged at 4.3 percent on a four-week moving average basis.

"The solid increase in confidence last week is very encouraging and likely reflects another good jobs report along with the RBA's broadly positive assessment of domestic conditions in the minutes of the July board meeting," ANZ's head of Australian Economics, David Plank, commented.

"We expect labour market conditions to continue improving, although at a slower pace, now that the period of catch up between official and survey based measures is largely complete."

"We will be closely watching Governor Lowe's speech and the CPI release out later this week for further insight into the RBA's assessment of the labour market and the course for monetary policy."
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Re: Forex News from InstaForex

Postby IFX Yvonne » Wed Jul 26, 2017 2:14 am

Japan Producer Prices +0.8% In June

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Producer prices in Japan were up 0.8 percent on year in June, the Bank of Japan said on Wednesday - unchanged and in line with expectations.

On a monthly basis, producer prices fell 0.1 percent following the flat reading in May.

Individually, prices were up for transportation and advertising; they were down for leasing and rental.

For the second quarter of 2017, producer prices were up 0.8 percent on year and 0.4 percent on quarter.
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Re: Forex News from InstaForex

Postby IFX Gertrude » Wed Jul 26, 2017 10:08 pm

BRAZIL: Steelmakers Estimate Higher Output And Lower Sales In 2017

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The Brazilian Steel Institute (IABr), which represents steelmakers that operate in the country, kept unchanged its forecast for the local steel output in 2017 at 32.420 million tons, a 3.8% increase compared to last year. However, the estimate for domestic steel sales was revised down to 16.310 million tons, a 1.3% decrease. Previously, IABR expected a 1.3% increase.

Steel exports, meanwhile, are projected to rise 9.1% in 2017, to 14.659 million tons, compared with a previous forecast of a 6.4% increase. Exports revenue should grow by 32.6%, to US$ 7.420 billion.

Steel imports are expected to rise 18.8%, to 2,232 million tons, more than the 6.6% increase anticipated by the IABr in April. Imports revenue should grow by 11.8%, to US$ 1.951 billion. Steel consumption - which includes domestic sales plus imports by distributors and consumers - is expected to rise 1.1%, to 18.418 million tons. The previous projection was a 2.9% increase.

According to the IABr chairman, Marco Polo de Mello Lopes, the steel sector is still at a delicate moment, with little internal consumption.

"The market has not recovered yet and will not resume during 2017," he told a news conference.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Wed Jul 26, 2017 10:49 pm

Dollar Wavered Near 13-Month Lows After Fed Statement

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The dollar nursed losses at 13-month lows versus a basket of currencies early on Thursday after the Federal Reserve's policy statement, which was perceived to be slightly dovish.

The dollar's index against a basket of six major currencies dropped to 93.44, having lost ten percent from its 14-year peak of 103.82 reached on Jan 3.

The next support levels are seen at 93.019, a June 2016 low, and 91.919, a 16-month low notched in May 2016, although a breach of these would be seen as major bearish signals.

The Fed's perceived interest rate advantage is wearing away as many other central banks have began to look to winding back their stimulus in recent months.

Fed funds rate futures are implying slightly less than a 50 percent likelihood of a rate hike by December, compared to a little over 50 percent prior to the meeting.

The dollar fell to 111.111 yen, inching near 110.625, its 5 ½ week low notched on Monday.

Investors have turned to the euro ever since European Central Bank President Mario Draghi signalled that the central bank might adjust its asset purchase.

The euro climbed to as high as $1.1750 in early Thursday trade, touching its highest level since January 2015.

The British pound stood at $1.3119, near its recent high of $1.3126.

The Australian dollar regained its $0.80 mark for the first time since 2015 and last stood at $0.8001.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Thu Jul 27, 2017 9:17 pm

PEMEX: Net Income Increases To US$ 1.8 Billion In Q2

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Mexico's state-owned Petroleos Mexicanos (Pemex) reported a net profit of 32.8 billion Mexican pesos (US$ 1.8 billion) in the second quarter of 2017, compared to losses in the same period last year. It was the third consecutive quarter of positive financial results for the company.

In a statement, Pemex said that the result reflects policies implemented by the current administration to improve efficiency and profitability.

"For this, it has been a key to take advantage of the tools granted by the Energy Reform," the company said.

Crude oil production averaged 2,013 thousand barrels per day (Mbd) during the quarter. Compared to the same quarter of 2016 there was a 7.5% decrease.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Thu Jul 27, 2017 9:41 pm

European Stocks Drop as AstraZeneca Weighs on Indexes

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The largest one-day decline in AstraZeneca shares after a drug study failure weighed on stock trading in Europe on Thursday. It offset a handful of well-received earnings results and sent indexes lower.

The pan-European Stoxx Europe 600 Index closed below the flatline, with most sectors in the red.

Food and beverages stocks were the best performers, higher by 1.3 percent, as investors priced in solid earnings news.

Regional healthcare stocks dropped 1.2 percent to their lowest in over four months.

British pharmaceutical AstraZeneca said a combination of two of its new oncology drugs has failed to shrink lung cancer tumors in a clinical trial. Investors currently have doubts whether the firm will be able to achieve its ambitious growth plans. Shares of the firm plunged 15 percent to its lowest level in almost five months.

Strong results from large companies, which includes Swiss drugmaker Roche, beer maker AB InBev and Diageo were not enough to pull broad index higher.

Deutsche Bank led banking stocks lower, tumbling 6.5 percent in its weakest day in five months after the lender trimmed its 2017 revenue forecast as a result of a difficult second quarter.

Heavyweight BASF and Bayer fell following weaker than expected earnings, as well as a profit forecast trim for both.The chemicals sector was the worst-performing across Europe.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Sun Jul 30, 2017 10:07 pm

Japan Industrial Production Exits Contraction

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Japan's industrial output recovered in June, pulling away from contraction and marking the third time this year the key measure of production regained its footing from a decline in the prior month.

On a monthly basis, industrial production increased 1.6 percent in June, according to an initial reading from the Ministry of Economy, Trade and Industry. The month-on-month numbers was slightly short of the expected 1.7 percent increase, but a significant recovery from May's contraction of 3.6 percent.

The transport sector's output climbed 4.2 percent in June, recovering from a 13 percent slid in the preceding month. Output of chemicals also jumped 3.4 percent during the period, compared to the 2.2 percent decline in May.

Manufacturers see a steady increase in output in the following months, indicating that solid demand abroad and increase in consumer spending could buttress overall growth of the Japanese economy. Manufacturers expect output to increase 0.8 percent in July and 3.6 percent in the succeeding month.

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