Forex News from InstaForex

[IFX Gertrude]

AUSTRALIAN DOLLAR SLIDES AGAINST MAJORS



The Australian dollar weakened against other major currencies in the Asian session on Thursday.

The Australian dollar fell to more than a 3-week low of 0.9046 against the Canadian dollar, from yesterday's closing value of. 0.9060.

Moving away from yesterday's closing value of 0.6684 against the U.S. dollar, the aussie dropped to 0.6661.

Against the euro and the yen, the aussie edged down to 1.6255 and 88.39 from yesterday's closing quotes of 1.6217 and 88.76, respectively.

If the aussie extends its downtrend, it is likely to find support around 0.89 against the loonie, 0.65 against the greenback, 1.63 against the euro and 85.00 against the yen.

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[IFX Gertrude]

JAPAN RETAIL SALES SURGE 6.6% ON YEAR IN FEBRUARY



The total value of retail sales in Japan was up 6.6 percent on year in February, the Ministry of Economy, Trade and Industry said on Friday.

That beat forecasts for an increase of 5.8 percent and was up from the downwardly revised 5.0 percent gain in January.

Sales from large retailers climbed 5.0 percent on year, easing from 5.5 percent in the previous month.

Wholesale sales climbed an annual 2.3 percent, accelerating from 1.2 percent a month earlier.

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[IFX Gertrude]

YEN ADVANCES AGAINST MOST MAJORS



The Japanese yen strengthened against most major currencies in the Asian session on Monday.

The yen rose to 4-day highs of 143.62 against the euro and 163.42 against the pound, from last week's closing quotes of 143.99 and 163.74, respectively.

Against the Swiss franc and the Australian dollar, the yen advanced to 4-day highs of 144.91 and 88.54 from Friday's closing quotes of 145.03 and 88.73, respectively.

If the yen extends its uptrend, it is likely to find resistance around 138.00 against the euro, 157.00 against the pound, 139.00 against the franc and 85.00 against the aussie

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[IFX Gertrude]

JAPAN MONETARY BASE SLIPS 1.0% ON YEAR IN MARCH



The monetary base in Japan was down 1.0 percent on year in March, the Bank of Japan said on Tuesday - coming in at 655.780 trillion yen.

That follows the upwardly revised 1.6 percent contraction in February (originally -1.7 percent).

Banknotes in circulation was up an annual 2.1 percent, while coins in circulation sank 3.7 percent. Current account balances lost 1.6 percent, including a 2.1 percent drop in reserve balances.

The adjusted base was up 13.5 percent, slowing from 31.1 percent a month earlier.

For the first quarter of 2023, the monetary base slipped 2.1 percent on year.

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[IFX Gertrude]

NZ DOLLAR RISES AGAINST MAJORS



The New Zealand dollar strengthened against other major currencies in the Asian session on Wednesday.

The NZ dollar rose to a 3-week high of 83.97 against the yen and more than a 2-week high of 1.7167 against the euro, from yesterday's closing quotes of 83.14 and 1.7343, respectively.

Against the U.S. and the Australian dollars, the kiwi advanced to nearly a 2-month high of 0.6379 and a 3-1/2-month high of 1.0618 from yesterday's closing quotes of 0.6311 and 1.0696, respectively.

If the kiwi extends its uptrend, it is likely to find resistance around 86.00 against the yen, 1.67 against the euro, 0.64 against the greenback and 1.06 against the aussie.

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[IFX Gertrude]

EUROPEAN ECONOMIC NEWS PREVIEW: GERMANY INDUSTRIAL OUTPUT, CONSTRUCTION PMI DUE



Industrial production and construction Purchasing Managers' survey results from Germany are due on Thursday, headlining a light day for the European economic news.

At 1.45 am ET, unemployment data is due from Switzerland. The jobless rate is forecast to fall slightly to 2.0 percent in March from 2.1 percent in February.

At 2.00 am ET, Destatis is slated to release Germany's industrial production for February. Economists expect output to gain 0.1 percent on month, slower than the 3.5 percent increase in January.

In the meantime, UK Halifax house price data is due. House prices are expected to fall 0.3 percent on month in March, reversing a 1.1 percent increase in February.

Also, GDP, industrial production and household consumption are due from Statistics Sweden.

At 3.00 am ET, wholesale prices and foreign trade figures are due from Austria. And industrial and construction output and external trade reports are due from the Czech Republic.

At 3.30 am ET, S&P Global publishes Germany's construction Purchasing Managers' survey results.

At 4.30 am ET, UK S&P/CIPS construction PMI data is due. The index is seen falling to 53.5 in March from 54.6 in February.

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[IFX Gertrude]

NZ DOLLAR ADVANCES AGAINST MOST MAJORS



The New Zealand dollar strengthened against most major currencies in the Asian session on Friday.

The NZ dollar rose to 0.6262 against the U.S. dollar and 82.49 against the yen, from yesterday's closing quotes of 0.6242 and 82.28, respectively.

Against the euro, the kiwi advanced to 1.7435 from yesterday's closing value of 1.7479.

If the kiwi extends its uptrend, it is likely to find resistance around 0.65 against the greenback, 84.00 against the yen and 1.69 against the euro.

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[IFX Gertrude]

JAPAN HAS Y2.197 TRILLION CURRENT ACCOUNT SURPLUS IN FEBRUARY



Japan posted a current account surplus of 2.197 trillion yen in February, the Ministry of Finance said on Monday.

That was shy of expectations for a surplus of 2.536 trillion yen following the downwardly revised 1.989 trillion shortfall in January (originally -1.977 trillion yen).

Exports rose 4.5 percent on year to 7.644 trillion yen, while imports climbed an annual 8.248 trillion yen for a trade deficit of 604.1 billion yen.

The capital account showed a deficit of 15.8 billion yen, while the financial account showed a surplus of 3.292 trillion yen.

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[IFX Gertrude]

AUSTRALIAN DOLLAR RISES AGAINST MAJORS



The Australian dollar strengthened against other major currencies in the Asian session on Tuesday.

The Australian dollar rose to a 5-day high of 1.6309 against the euro, from yesterday's closing value of 1.6352.

Against the yen and the NZ dollar, the aussie advanced to 6-day highs of 89.03 and 1.0714 from yesterday's closing quotes of 88.67 and 1.0674, respectively.

The aussie edged up to 0.6674 against the U.S. dollar, from yesterday's closing value of 0.6641.

Moving away from an early near 5-month low of 0.8956 against the Canadian dollar, the aussie climbed to 0.9002.

If the aussie extends its uptrend, it is likely to find resistance around 1.58 against the euro, 91.00 against the yen, 1.08 against the kiwi, 0.68 against the greenback and 0.91 against the loonie.

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[IFX Gertrude]

JAPAN OVERALL BANK LENDING GAINS 3.0% ON YEAR IN MARCH



The value of overall bank lending in Japan was up 3.0 percent on year in March, the Bank of Japan said on Wednesday - coming in at 600.372 trillion yen.

That beat forecasts for an increase of 1.8 percent and was down from 3.3 percent in February.

Excluding trusts, lending climbed an annual 3.3 percent to 523.282 trillion yen - slowing from 3.6 percent in the previous month.

Lending from trusts rose 1.0 percent on year to 77.089 trillion yen after adding 0.9 percent a month earlier.

For the first quarter of 2023, overall lending rose 3.1 on year, lending minus trusts jumped 3.5 percent and lending from trusts was up 0.9 percent.

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