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Re: Forex News from InstaForex

Postby IFX Gertrude » Fri Jun 19, 2020 1:40 am

Australia Retail Sales Rebound At Record Pace In May

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Australia's retail sales expanded in May at the fastest pace in the 38 year history of the series, after the easing of coronavirus containment measures, data from the Australian Bureau of Statistics showed Friday.

Retail sales grew by 16.3 percent on a monthly basis in May, the biggest on record, following a record decline of 17.7 percent in April.

Turnover rose 5.3 percent from the same period last year.

There were large increases in turnover in clothing, footwear and personal accessory retailing and cafes, restaurants and takeaway food services, as restrictions eased throughout the month.

Data showed that the monthly rise in clothing, footwear and personal accessory retailing exceeded 100 percent but remained more than 20 percent from last year.

Food retailing rose 7.2 percent from April. At the same time, perishable goods turnover advanced 7.0 percent and non-perishable goods turnover gained 3.8 percent. and All other products turnover gained 5.8 percent in May.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Mon Jun 22, 2020 1:53 am

China Leaves Benchmark Lending Rates Unchanged

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China left its benchmark lending rates unchanged for the second straight month despite the economy struggling to recover from the impact of the coronavirus crisis.

The one-year loan prime rate was retained at 3.85 percent and the five-year loan prime rate was maintained at 4.65 percent.

The one-year and five-year loan prime rates were last reduced in April. The one-year loan prime rate was lowered by 20 basis points and five-year rate by 10 basis points in April.

The loan prime rate is fixed monthly based on the submission of 18 banks, though Beijing has influence over the rate-setting. This new lending rate replaced the central bank's traditional benchmark lending rate in August 2019.

Last week, the People's Bank of China injected CNY 200 billion funds into the financial system via medium-term lending facility at a rate of 2.95 percent, unchanged from the previous operation.

With fiscal stimulus ramping up and economic recovery well underway, the PBoC appears to see less of a need to encourage stronger private borrowing, Julian Evans-Pritchard, an economist at Capital Economics, said.

Broad credit growth still looks set to accelerate further in the coming quarters. But short-term interest rates are unlikely to decline much further, the economist noted.

Iris Pang, an ING economist said she is looking for a targeted RRR cut this week, by 0.5 percentage points for some banks on the specific requirement to use the liquidity for small and medium sized enterprises.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Tue Jun 23, 2020 1:15 am

Japan Manufacturing PMI Sinks To 28.9 In June - Jibun Bank

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The manufacturing sector in Japan continued to contract in June, and ay a faster rate, the latest survey from Jibun Bank revealed on Tuesday with a manufacturing PMI score of 28.9.

That's down from 30.3 in May, and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction.

Individually, output, new orders, new export orders, employment, backlogs, output prices, input prices and future output all continued to contract.

The data also showed that Japan's services PMI came in at 42.3 in June, up from 26.5 in the previous month. The composite index had a score of 27.8, down from 37.9 a month earlier.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Wed Jun 24, 2020 1:31 am

European Economics Preview: German Ifo Business Confidence Data Due

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Business sentiment survey results from Germany and France are due on Wednesday, headlining a light day for the European economic news.

At 2.00 am ET, Statistics Norway releases unemployment data for April. The jobless rate is expected to rise to 3.8 percent in April.

At 2.45 am ET, France's statistical office Insee is scheduled to issue business confidence survey results. The sentiment index is forecast to rise to 80 in June from 70 in May.

At 3.00 am ET, manufacturing confidence survey data is due from Sweden and Turkey.

At 4.00 am ET, Germany's ifo Institute is scheduled to publish business sentiment survey results for June. Economists forecast the business climate index to rise to 85.0 in June from 79.5 a month ago.

In the meantime, unemployment data is due from Poland. The jobless rate is expected to rise to 6.1 percent in May from 5.8 percent in April.

At 8.30 am ET, the Czech National Bank announces its interest rate decision. Economist forecast the bank to hold its key rate at 0.25 percent.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Thu Jun 25, 2020 1:47 am

New Zealand Trade Surplus NZ$1.3 Billion In May

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New Zealand posted a merchandise trade surplus of NZ$1.3 billion in May, Statistics New Zealand said on Thursday - following the NZ$1.267 billion surplus in April.

Exports were down an annual 6.1 percent or NZ$350 million to NZ$5.39 billion.

Imports plummeted 25.6 percent or NZ$1.4 billion to NZ$4.14 billion.

In the year ended May 2020, exports gained 1.3 percent or NZ$0.8 billion to NZ$60.1 billion. Imports fell 5.4 percent or NZ$3.5 billion to NZ$61.4 billion - resulting in a trade deficit of NZ$1.3 billion.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Fri Jun 26, 2020 1:31 am

European Economics Preview: France Consumer Confidence Data Due

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Consumer sentiment survey results from France are due on Friday, headlining a light day for the European economic news.

At 2.00 am ET, May import price data is due from Germany. Prices had decreased 7.4 percent annually in April.

At 2.45 am ET, France's statistical office Insee publishes consumer sentiment survey data. The indicator is expected to rise to 95 in June from 93 in May.

At 3.00 am ET, European Central Bank President Christine Lagarde is set to speak at an online summit organized by the European Business Leaders' Convention.

In the meantime, retail sales data from Spain is due. Economists forecast sales to fall 17.6 percent annually in May, following a 31.6 percent decrease in April.

Half an hour later, Statistics Sweden is set to issue retail sales and producer prices for May. Economists forecast sales to fall 2.1 percent on month, in contrast to an increase of 0.2 percent in April.

At 4.00 am ET, private sector credit data from euro area and manufacturing Purchasing Managers' survey results are due from Austria.

At 5.00 am ET, Italy's Istat is set to release business confidence survey data. The business sentiment index is expected to rise to 80 in June from 71.2 in May.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Tue Jun 30, 2020 1:32 am

New Zealand ANZ Business Sentiment Rises Less Than Estimated

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New Zealand business sentiment improved less than estimated in June, final data from ANZ showed on Tuesday.

The business confidence index rose to -34.4 in June from -41.8 in May. However, the score was weaker the preliminary estimate of -33.0.

ANZ said a vigorous bounce out of lockdown was evident in the numbers, but the levels were consistent with the assessment that the recession is just starting.

"It is encouraging to see a bounce in sentiment in the retail sector, and these tallies with anecdotes we are hearing about households rushing out to spend the involuntary savings accumulated during lockdown, as well as the money that had been squirreled away, earmarked for an overseas holiday," ANZ said.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Wed Jul 01, 2020 1:52 am

UK Shop Prices Continues To Fall In June: BRC

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UK shop prices declined for the thirteenth straight month in June but the pace of decrease slowed, data from the British Retail Consortium showed Wednesday.

The BRC-Nielsen shop price index declined 1.6 percent in June.

Although consumers benefited from the decline in shop prices, the situation for many retailers, such as those in clothing and footwear remains very challenging, Helen Dickinson, chief executive at BRC, said.

"Coronavirus has been a huge shock to the retail industry and coming on top of this, the threat of the UK leaving the EU without a trade deal is a real concern as it would lead to severe disruptions to supply chains, far beyond those experienced during lockdown, resulting in higher prices and reduced availability in shops," Dickinson added.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Thu Jul 02, 2020 2:41 am

European Economics Preview: Eurozone Unemployment Data Due

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Unemployment data from euro area is due on Thursday, headlining a light day for the European economic news.

At 3.00 am ET, Spain's unemployment data for June is due. The number of people out of work had increased 26,600 in May.

In the meantime, the Hungarian Central Statistical Office is scheduled to release foreign trade figures for April.

At 4.00 am ET, unemployment data is due from Italy. Economists forecast the jobless rate to climb to 7.7 percent in May from 6.3 percent in April. At 5.00 am ET, Eurostat is scheduled to release euro area unemployment and producer price data. The jobless rate is expected to rise to 7.7 percent in May from 7.3 percent in April.

Eurozone producer prices are forecast to decline 4.8 percent annually, faster than the 4.5 percent drop seen in April.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Fri Jul 03, 2020 1:40 am

China's Service Sector Grows Most Since 2010

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China's service sector expanded at the fastest pace in more than a decade in June, driven by strong orders as measures related to the coronavirus pandemic were relaxed, survey data from IHS Markit showed Friday.

The Caixin services Purchasing Managers' Index rose to 58.4 in June from 55.0 in May. The rate of expansion was the fastest since April 2010. A score above 50 indicates expansion in the sector.

Total new orders advanced at the quickest pace since August 2010 driven by improving market conditions and new export work expanded for the first time since January.

Firms widely reported that overall market conditions had continued to improve following an easing of measures related to the coronavirus disease 2019 pandemic.

Nonetheless, service providers reported another fall in workforce numbers. As new business increased, outstanding workloads logged a renewed rise in June. On the price front, the survey showed a slight drop in input prices at the end of the second quarter. At the same time, prices charged by services companies were broadly unchanged in June, thereby ending a six-month period of decline.

Service providers expressed stronger optimism towards the 12-month outlook for business activity in June.

The composite output index rose to 55.7 in June from 54.5 in May, to signal a sharp and accelerated increase in overall Chinese business activity.

"Although businesses were optimistic about the economic outlook, they remained cautious about increasing hiring, with employment in both the manufacturing and services sectors shrinking," Wang Zhe, a senior economist at Caixin Insight Group said. Addressing the employment problem requires not only macro policies to further promote work resumption, but also more targeted relief measures introduced by governments to tide companies over, said Wang.

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