Forex News from InstaForex

[IFX Gertrude]

CHINA INDUSTRIAL OUTPUT CLIMBS 6.6% ON YEAR IN NOVEMBER



Industrial production in China was up 6.6 percent on year in November, the National Bureau of Statistics said on Friday.

That beat forecasts for an increase of 5.6 percent and was up from 4.6 percent in October.

The bureau also said that retail sales jumped an annual 10.1 percent - shy of expectations for 12.5 percent but up from 7.6 percent in the previous month.

Fixed asset investment rose 2.9 percent on year - unchanged from October, but missing forecasts for a gain of 3.0 percent.

The unemployment rate came in at 5.0 percent, in line with expectations and unchanged from the previous month.

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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 Monday.

The NZ dollar rose to 4-day highs of 0.6243 against the U.S. dollar and 88.72 against the yen, from Friday's closing quotes of 0.6206 and 88.22, respectively.

Against the euro and the Australian dollar, the kiwi advanced to 4-day highs of 1.7483 and 1.0762 from last week's closing quotes of 1.7543 and 1.0783, respectively.

If the kiwi extends its uptrend, it is likely to find resistance around 0.64 against the greenback, 90.00 against the yen, 1.73 against the euro and 1.06 against the aussie.

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[IFX Gertrude]

YEN FALLS AGAINST MAJORS



The Japanese yen weakened against other major currencies in the early Asian session on Tuesday.

The yen fell to 6-day lows of 157.02 against the euro and 181.97 against the pound, from yesterday's closing quotes of 155.90 and 180.45, respectively.

Against the U.S. dollar and the Swiss franc, the yen slid to 6-day lows of 143.78 and 165.79 from Monday's closing quotes of 142.74 and 164.56, respectively.

Against Australia, the New Zealand and the Canadian dollars, the yen slipped to nearly a 2-week low of 96.61, a 1-week low of 89.50 and a 6-day low of 107.36 from yesterday's closing quotes of 95.71, 88.66 and 106.51, respectively.

If the yen extends its downtrend, it is likely to find support around 160.00 against the euro, 186.00 against the pound, 148.00 against the greenback, 169.00 against the franc, 98.00 against the aussie, 91.00 against the kiwi and 110.00 against the loonie.

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[IFX Gertrude]

CHINA KEEPS BENCHMARK LENDING RATES UNCHANGED



China's central bank maintained its benchmark lending rates on Wednesday after the rate on the medium-term lending facility was kept unchanged last week.

The People's Bank of China kept the one-year loan prime rate, or LPR, unchanged at 3.45 percent.

The bank had previously lowered the one-year rate by 10 basis points in August. New and outstanding loans are based on the one-year LPR.

At the same time, the five-year LPR, the benchmark for mortgage rates, was retained at 4.20 percent for the sixth consecutive time.

The Chinese central bank fixes the LPR every month based on the submission of 18 designated banks. The LPR replaced the traditional benchmark lending rate in August 2019.

The PBoC was widely expected to leave the rates unchanged today after the rate on medium-term lending facility, which acts as a guide to loan prime rates, was maintained at 2.50 percent last week. The bank had added CNY 1.45 trillion into the financial system via MLF.

Official data released early this month showed that new yuan loans increased notably to CNY 1.09 trillion in November from CNY 738.4 billion in the previous month.

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[IFX Gertrude]

YEN RISES AGAINST MAJORS



The Japanese yen strengthened against other major currencies in the Asian session on Thursday.

The yen rose to 2-day highs of 156.38 against the euro and 180.44 against the pound, from yesterday's closing quotes of 157.03 and 181.42, respectively.

Against the U.S. dollar and the Swiss franc, the yen advanced to 2-day highs of 142.81 and 165.66 from yesterday's closing quotes of 143.56 and 166.37, respectively.

Against Australia, the New Zealand and the Canadian dollars, the yen climbed to 2-day highs of 96.34, 89.27 and 106.94 from yesterday's closing quotes of 96.60, 89.65 and 107.35, respectively.

If the yen extends its uptrend, it is likely to find resistance around 153.00 against the euro, 178.00 against the pound, 140.00 against the greenback, 162.00 against the franc, 94.00 against the aussie, 87.00 against the kiwi and 104.00 against the loonie.

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[IFX Gertrude]

TAIWAN JOBLESS RATE FALLS IN NOVEMBER



The unemployment rate in Taiwan decreased somewhat in November, the Directorate General of Budget Accounting and Statistics reported Friday.

The seasonally adjusted unemployment rate came in at 3.37 percent in November, versus 3.41 percent a month ago. In the same period last year, the rate was 3.63 percent.

On an unadjusted basis, the jobless rate dropped to 3.34 percent in November from 3.43 percent in October. Unemployment decreased to 400,000 from 411,000.

Data showed that total employment increased by 19,000 from the previous month to 11.57 million. From the previous year, employment grew by 147,000 in November.

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[IFX Gertrude]

AUSTRALIAN DOLLAR FALLS AGAINST MAJORS



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

The Australian dollar fell to 6-day lows of 96.11 against the yen and 0.8987 against the Canadian dollar, from Friday's closing quotes of 96.82 and 0.9024, respectively.

Against the euro and the NZ dollar, the aussie slipped to 4-day lows of 1.6250 and 1.0756 from last week's closing quotes of 1.6189 and 1.0801, respectively.

The aussie edged down to 0.6775 against the U.S. dollar, from Friday's closing value of 0.6799, respectively.

If the aussie extends its downtrend, it is likely to find support around 93.00 against the yen, 0.87 against the loonie, 1.65 against the euro, 1.06 against the kiwi and 0.65 against the greenback.

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[IFX Gertrude]

U.S. DOLLAR FALLS AGAINST MAJORS



The U.S. dollar weakened against other major currencies in the Asian session on Tuesday.

The U.S. dollar fell to 4-day lows of 1.1029 against the euro and 142.09 against the yen, from yesterday's closing quotes of 1.1007 and 142.34, respectively.

Moving away from an early high of 0.8568 against the Swiss franc, the greenback slipped to a 4-day low of 0.8550.

The greenback edged down to 1.2714 against the pound, from yesterday's closing value of 1.2689.

Against the Australia and the New Zealand dollars, the greenback slid to a 4-day low of 0.6816 and more than a 5-1/2-month low of 0.6324 from Monday's closing quotes of 0.6796 and 0.6305, respectively.

Moving away from an early high of 1.3262 against the Canadian dollar, the greenback edged down to 1.3251.

If the greenback extends its downtrend, it is likely to find support around 1.11 against the euro, 140.00 against the yen, 0.84 against the franc, 1.28 against the sterling, 0.69 against the aussie, 0.64 against the kiwi and 1.31 against the loonie.

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[IFX Gertrude]

JAPAN HOUSING STARTS FALL 8.5%, MORE THAN EXPECTED



Japan's housing starts decreased for the sixth straight month in November, and at a faster-than-expected pace, data from the Ministry of Land, Infrastructure, Transport, and Tourism showed on Wednesday.

Housing starts dropped 8.5 percent year-on-year in November, which was worse than the 6.3 percent decline in October. Economists had expected a decrease of 4.3 percent.

Data showed that new construction was contracted in the majority of categories, including owned, rented, and built for scale.

The seasonally adjusted annualised number of housing starts fell to 775,000 in November from 808,000 in the previous month.

Data also showed that construction orders received by the big 50 contractors surged 33.6 percent annually in November, after a 4.2 percent rebound in the prior month.

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[IFX Gertrude]

U.S. DOLLAR FALLS AGAINST MAJORS



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

The U.S. dollar fell to an 8-year low of 0.8396 against the Swiss franc and a 2-week low of 141.18 against the yen, from yesterday's closing quotes of 0.8425 and 141.45, respectively.

The greenback slid to a 5-month low of 1.1123 against the euro and nearly a 5-month low of 1.2815 against the pound, from Wednesday's closing quotes of 1.1108 and 1.2800, respectively.

Against the Australia and the New Zealand dollars, the greenback dropped to 5-1/2-month lows of 0.6872 and 0.6370 from yesterday's closing quotes of 0.6853 and 0.6348, respectively.

The greenback edged down to 1.3193 against the Canadian dollar, from yesterday's closing value of 1.3206.

If the greenback extends its downtrend, it is likely to find support around 0.82 against the franc, 140.00 against the yen, 1.13 against the euro, 1.29 against the pound, 0.69 against the aussie, 0.65 against the kiwi and 1.30 against the loonie.

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