Forex News from InstaForex

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Re: Forex News from InstaForex

Postby IFX Gertrude » Mon Jun 05, 2017 9:58 pm

Treasury Yields Jumps Amid Mixed Economic Data

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U.S. government bond yields rallied amid a string of data that did not help clarify U.S. economic prospects after a disappointing jobs report helped trim growth expectations.

The 10-year Treasury note yield advanced 2.2 basis points to 2.182 percent. Despite its rally, the benchmark yield's closing was still its lowest close this year. Yield on the two-year note rose 1.8 basis point to 1.308 percent, while the yield on the 30-year bond or the long bond advanced 3.1 basis point to 2.840 percent.

The movement in yields came after the ISM services index for May slid to 56.9 percent against the 57.5 percent seen in the previous month. However, April's reading marked a 12-year high and the index continued to be above the adjusted annual average of 55.9 percent.

Another report showed that U.S. productivity growth during the first quarter of the year was revised upward from 0.6 percent, indicating that economic data in Q1 was not as soft as initially reported.

In the last few weeks, muted economic data, underlined by a dismal May nonfarm payrolls report, has barely discouraged investors from betting a June rate hike. Traders are now wagering in a 95.8 percent odds of a rate increase during the Fed's next policy meeting, based on the Chicago Mercantile Exchange's FedWatch tool.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Tue Jun 06, 2017 9:13 pm

Australia Manufacturing Sector Picks Up Steam In May - AIG

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The construction sector in Australia continued to expand in May, and at a faster rate, the latest survey from the Australian Industry Group revealed on Wednesday with a Performance of Construction Index score of 56.7.

That's up sharply from 51.9 in April, and it moves farther above the boom-or-bust line of 50 that separates expansion from contraction.

It also marks the fastest rate of expansion in more than two and a half years.

Individually, apartment building saw the biggest jump, although house building fell back into contraction.

Engineering construction and commercial construction were firmly in expansion territory.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Tue Jun 06, 2017 9:59 pm

Macy’s Warning Triggers Retail Sector Selloff

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Macy's finance chief Karen Hoguet cautioned analysts that the department store's gross margin might continue to erode in February, triggering renewed panic in the already struggling retail sector.

Hoguet warned that gross margins of the retailer would decline by around 1 percent in its current quarter compared to the same period a year prior. She added that it will drop less than 1 percent for the full fiscal year.

In February, the firm said it expected margin declines but did not specify the level of the drop. It assured that it is not downgrading its sales and profit targets and looks to make up the difference via cost-cutting and efforts to enhance the performance of its stores.

The executive said margins are under pressure because Macy's is taking a longer time than expected to get rid of surplus inventory. She also noted that Macy's was experiencing the impact of increased promotions of beauty products and stagnant watch sales.

The comments caused Macy's shares to tumble 8.2 percent to trade at $21.90, the company's lowest close in over six years. The remarks also triggered a selloff in the sector, underlining the sector's fragility. Other retailers were dragged down by the dim guidance, as J.C. Penney Co., Kohl's Group, Nordstrom Inc., Target Corp. and Wal-Mart Stores Inc. all experienced declines during the session.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Wed Jun 07, 2017 8:51 pm

Japan Overall Bank Lending Climbs 3.2% In May

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Overall bank lending in Japan was up 3.2 percent on year in May, the Bank of Japan said on Thursday - coming in at 513.269 trillion yen.

That topped expectations for an increase of 3.0 percent, which would have been unchanged from the April reading.

Excluding trusts, bank lending was up an annual 3.3 percent to 446.592 trillion yen. That also beat forecasts for 3.0 percent, which would have been unchanged.

Lending from foreign banks gained 2.9 percent on year to 66.676 trillion yen after rising 2.8 percent in the previous month.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Wed Jun 07, 2017 11:04 pm

Wall Street Higher Supported by Comey Relief

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U.S. equities finished higher on Wednesday after written testimony from former FBI director James Comey did not provide major revelations regarding the probe into Russian meddling with 2016's presidential election.

The Dow Jones industrial average climbed 0.18 percent to end at 21,173.69, with Nike leading gains while Coca-Cola lagged behind. The S&P 500 added 0.16 percent to close at 2,433.14, as financials led eight sectors up and energy declined the most. The Nasdaq composite rose 0.36 percent to finish at 6,297.38.

The stock market mostly fluctuated this week as investors held off from making large wagers ahead of Comey's testimony.

Equities were pressured by the near two percent decline in the S&P 500's energy sector. All but two of the 34 components of the sector dropped as U.S. crude futures plunged five percent because of the sudden increase in U.S. inventories.

Signet Jewelers was the biggest percentage advancer on the S&P 500, which climbed four percent. Newfield Exploration was the biggest decliner by tumbling seven percent.

Investors are currently focused on Britain's general election and the European Central Bank's policy meeting, both on Thursday.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Thu Jun 08, 2017 9:53 pm

Uk Election: Odds are in Decline for Conservatives

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After exit polls somewhat shocked the market and pointing to YouGov model prediction just weeks ago that forecasted a hung parliament weeks ago, betting odds are in decline, except for the odds for most seats.

The betting market is pricing 93 percent probability that the Conservative will win most of the seats in 650 members’ parliament.

The market is pricing less than 62 percent probability that Theresa may be the next Prime Minister. The odds for Jeremy Corbyn has moved higher from 20 percent to 33 percent.

The market is also pricing 66 percent probability that the Conservatives will be able to hold on to their majority in the election. The odds of a Labour Party majority is currently at less than 7 percent.

The odds of a hung parliament has moved up from less than 20 percent before the election to 33 percent as of now.

Foreign Secretary Boris Johnson is the favorite with 30 percent odds to become the next Conservative Party leader if Theresa May is replaced.

Results so far:
So far, the Labour Party has won 10 seats, while the Conservatives have secured wins in five. Still, a very long way to reach the magic figure (326).

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Re: Forex News from InstaForex

Postby IFX Gertrude » Thu Jun 08, 2017 10:25 pm

Dow Touches Record High but Ends Flat After Comey Testimony

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U.S. equities finished mostly higher on Thursday as Wall Street priced in former FBI Director James Comey's testimony. The “Trump trade” made a comeback but the S&P and Dow industrials eventually ended little changed.

The Dow Jones industrial average climbed 0.04 percent to finish at 21,182.53, as Caterpillar led gains while Walt Disney lagged behind. The S&P 500 added 0.03 percent to 2,433.79, with financials leading five sectors up and utilities was the largest decliner. The Nasdaq composite rose 0.39 percent to end at 6,321.76.

The Trump 'reflation trade' was back for the day with the S&P 500 financial sector gaining 1.1 percent.

The S&P 1500 construction and engineering index climbed 1.4 percent while the measure of construction materials stocks rose 1.5 percent. The S&P 1500 steel sector index advanced 4.1 percent, the most since April 20.

The announcement of Commerce Secretary Wilbur Ross that a national security review of the U.S. steel industry will be made to protect interests of domestic steel producers and consumers had bolstered infrastructure stocks.

Utilities stocks dropped the most on the S&P 500 as Treasury yields rose. The S&P utilities sector fell 0.88 percent, the most since mid March.

Among stocks active in corporate news, Alibaba jumped 13.3 percent to $142.34 after the company said it sees revenue growth of 45 to 49 percent in the 2018 fiscal year. Yahoo, which has a 15.5 percent stake in Alibaba, advanced 10.2 percent to $55.71.

Chipmaker Nvidia bounced 7.3 percent to $159.94 after Citigroup cited its bullish outlook on the stock and said in the long term it could reach $300.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Mon Jun 12, 2017 10:49 pm

Australian Economy Likely to have added 10,000 Jobs in May

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The data released last week indicated that the Australian economy grew at an annualized rate of 1.7 percent in the first quarter. Even with subdued growth, the labor market added 37,400 jobs in April. Most of the employment gains in the month was driven by part time employment, rising 49,000. This more than countered the 11,000 drop in full-time employment.

The participation rate remained stable at 64.8 percent as the unemployment rate dropped two tenths of a percentage point to 5.7 percent, approaching a low not seen since 2013, noted Wells Fargo. Even if employment growth has been solid, wage growth has been more stagnant.

However, the economy is likely to have added 10,000 jobs in May, according to consensus forecast. The forward momentum of labor market permitted the Reserve Bank of Australia to keep rates on hold at 1.5 percent during its latest meeting.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Tue Jun 13, 2017 12:53 am

Treasury Yields Continue to Rally Ahead of Fed Meeting

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U.S. government bond yields edged up as prices retreated ahead of the closely monitored two-day U.S. Federal Reserve policy meeting scheduled to start on Tuesday.

The yield on the two-year Treasury note, which is particularly sensitive to shifts in Fed policy, advanced 2.1 basis points to 1.359 percent. Meanwhile the yield on the 10-year note advanced 1.4 basis points to 2.215 percent. The yield on the long bond or the 30-year bond advanced 1.5 basis points to 2.867 percent.

Treasury yields rallied due to expectations of a quarter-point rate increase by the Fed by the end of the June policy meeting. Aside from this, investors will also be looking for clues on the pace of the rate increases after the latest one, with odds of a fifth rate hike since December 2015 falling below 50 percent.

Market participants are also expected to look forward to consumer price data slated to be released on Wednesday as Fed policymakers called the weak consumer price data in March and April as temporary to build up a June rate hike.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Tue Jun 13, 2017 9:07 pm

New Zealand Food Prices Gain 2.4% In May

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Food prices in New Zealand were up 2.4 percent on month in May, Statistics New Zealand said on Wednesday - following the 0.8 percent gain in April.

Fruit and vegetable prices rose 8.2 percent on month, while meat, poultry, and fish prices rose 2.3 percent.

Seasonally adjusted, food prices gained 1.6 percent on month.

On a yearly basis, prices were up 3.1 percent.

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