Forex News from InstaForex

[IFX Gertrude]

Research: Outlook for Ils



Quotes from Barclays Capital:

-The growth and balance-of-payment fundamentals in Israel are solid but the central bank has already taken steps against appreciation (by intervening) and appears ready to take further steps if the ILS were to rise again. Inflation remains low in Israel and there are no clear restraints on central bank FX intervention, or the imposition of additional macro-prudential measures.

News are provided by InstaForex.

[IFX Gertrude]

Day ahead in the Fx Market



FRIDAY, JUNE 28:
0500 - JAPAN MAY HOUSING STARTS Housing starts for May are expected to rise 6.2 percent compared to 5.8 percent rise in April.
0500 - JAPAN MAY CONSTRUCTION ORDERS No forecast available 0600 - UK NATIONWIDE HOUSE PRICES FOR JUNE Forecast to rise 0.3 percent from a month ago and 2 percent from a year ago.
0645 - FRENCH CONSUMER SPENDING FOR MAY Forecast to drop 0.1 percent from a month ago, compared with a drop of 0.3 percent, prior.
0645 - FRENCH PRODUCER PRICES FOR MAY Forecast to fall 0.3 percent from a month ago, compared with a fall of 0.9 percent, prior.
0700 - SWISS KOF INDICATOR No forecasts available.
0800 - ITALY BUSINESS CONFIDENCE FOR JUNE No forecasts available.
0900 - ITALY CPI (PRELIMINARY) FOR JUNE Forecasts to rise 0.2 percent from a month earlier and 1.1 percent from a year earlier.
1000 - ITALY PRODUCER PRICES FOR MAY No forecasts available.
1200 - GERMAN HICP (PRELIMINARY) FOR JUNE Forecasts to rise 1.8 percent from a year ago and expected to remain unchanged from a month ago.
1200 - GERMAN CPI (PRELIMINARY) FOR JUNE Forecast at 0.0 percent from a month ago and a 1.7 percent rise from a year ago.
1200 - FEDERAL RESERVE BOARD GOVERNOR STEIN SPEAKS, New York Federal Reserve Board Governor Jeremy Stein speaks on "Monetary Policy" before the C. Peter McColough Series on International Economics event at the Council on Foreign Relations.
1315 - FEDERAL RESERVE BANK OF RICHMOND PRESIDENT LACKER speaks, White Sulphur Springs, Virginia Federal Reserve Bank of Richmond President Jeffrey Lacker speaks on the economic outlook before panel, "The Economic Outlook and the Effect on Your Law Practice: A Forecast and Some Professional Advice," at the Judicial Conference of the Fourth Circuit.
1345 - CHICAGO PMI FOR JUNE The Institute for Supply Management Chicago releases June index of manufacturing activity. Economists in a Reuters survey forecast a reading of 56.0 compared with 58.7 in May.
1355 - THOMSON REUTERS/UNIV OF MICH FINAL JUNE CONSUMER SENTIMENT Thomson Reuters/University of Michigan Surveys of Consumers releases final June consumer sentiment index. Economists in a Reuters survey expect a reading of 82.8 compared with 82.7 in the preliminary June report.
1430 - U.S. ECRI WEEKLY Economic Cycle Research Institute releases its weekly index of economic activity for June 21. In the prior week, the index read 130.3.
1600 - CLEVELAND FED'S SCHWEITZER SPEAKS, Wheeling, West Virginia Federal Reserve Bank of Cleveland Senior Vice President Mark Schweitzer speaks before the West Liberty University Economics Club/Wheeling Area Chamber of Commerce Luncheon.
1930 - FEDERAL RESERVE BANK OF SAN FRANCISCO PRESIDENT WILLIAMS SPEAKS, Rohnert Park, California Federal Reserve Bank of San Francisco President John Williams speaks on the economy and monetary policy before the Sonoma County Economic Conference.
SUNDAY, JUNE 30: 2350 - BANK OF JAPAN'S QUARTERLY "TANKAN" SURVEY OF BUSINESS SENTIMENT

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[IFX Gertrude]

Aussie Off Lows After China Data, Still Shaky



The Australian dollar touched a near three-year low against a broadly firmer greenback on Monday, but managed to stage a modest comeback in the wake of a less dire-than-expected reading on China's manufacturing sector.

The Aussie was last up 0.4 percent on the day at $0.9171, having earlier fallen as far as $0.9110, its lowest since September 2010.

It climbed about 30 pips after a closely watched report revealed that China's factory activity did not slow as much as feared. China is Australia's single biggest export market.

News are provided by InstaForex.

[IFX Gertrude]

S.korea Won Inches down After Five-Day Rally



The South Korean won was quoted at 1,134.4 against the dollar as of 0230 GMT, compared with Monday's domestic close at 1,132.4.

The currency edged down on Tuesday after a five-day rally against the dollar and market participants made bargain bids for the greenback, offsetting dollar sales from exporters.

News are provided by InstaForex.

[IFX Yvonne]

China Approves Shanghai New Yuan Pilot Zone - Report



China has formally approved the establishment of a free trade zone that will trial yuan convertibility in Shanghai, the official China Daily reported on Thursday.

State media had reported in early June that approval of the zone was imminent, but details were scarce on the precise nature of the policy initiatives being contemplated.

News are provided by InstaForex.

[IFX Yvonne]

Us Dollar Leaps As ECB & Boe Recommit to Easy Money



The single currency slid 0.9 percent to a five-week low of $1.2884 at one stage before steadying at $1.2910 in early Asian trade, thanks to bids from regional central banks. The pound was stripped of gains made earlier in the week and sank 1.3 percent to a trough of $1.5054.

The U.S. dollar sped higher on the euro and sterling on Friday after the ECB and BoE both blindsided markets with decidedly dovish policy guidance, leaving the Federal Reserve as the only major central bank with any inclination to rein back stimulus.

News are provided by InstaForex.

[IFX Gertrude]

Research: China's June Cpi Inflation Likely to have accelerated to 2.6% Y/y



Quotes from Standard Chartered:

-China will release June CPI data on 9 July. We expect CPI inflation to have accelerated to 2.6% y/y from 2.1% in May on higher pork prices. Average pork prices rose 5.1% m/m in June, versus a decline of 18% in March-May, according to the National Bureau of Statistics.

-Pork consumption likely recovered after the sharp decline in the past three months owing to reports of mysterious pig deaths and the outbreak of bird flu. PPI inflation likely moderated to 2.7% y/y in June from 2.9% in May, versus a decline of 1.3% in March-April. We expect a slower m/m decline in June, owing to a lower manufacturing PMI reading (a sub-index of the PPI).

News are provided by InstaForex.

[IFX Gertrude]

Japan Index: Markets Put speed Bump in Abe’s Path



For the first time in six months, Japanese Prime Minister Shinzo Abe's economic experiment stumbled in May amidst skittish stock and bond markets. But the drop in the Breakingviews Abenomics Index to 93.8, from 94.4 in April, may be temporary as deflation continues to ease.

News are provided by InstaForex.

[IFX Gertrude]

S.korea Won Edges Higher on Exporters, Short-Covering



The South Korean won was quoted at 1,139.0 against the dollar as of 0225 GMT, compared with Tuesday's domestic close of 1,141.7.

Dealers said exporters continued to sell dollars to lock in the currency's recent gains against the won.

Once the dollar-won rate fell below the 1,140 mark, some investors were seen unwinding some bets against the local currency.

News are provided by InstaForex.

[IFX Gertrude]

Today's Equity Markets Wrap Up



Despite the volatility in commodity and FX markets before and after the FOMC Minutes/Bernanke comments - equity markets in Europe and the US were relatively uneventful.

The FTSE closed down 0.1%; the German DAX closed up 0.1%; the French CAC closed down 0.1%; the Milan Index eased 0.7% with the S&P downgrade weighing and the Spanish IBEX closed the day down 0.25%.

Wall Street went from small down to small up following the release of the FOMC Minutes (moved up about 50 points) before easing back to flat late in the session when the Treasury markets saw the Minutes as indicating tapering was on the way and push the 10-year Treasury yield higher.

Afterhours - following dovish Bernanke comments - the S&P futures up 0.5%.

News are provided by InstaForex.