Forex News from InstaForex

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Re: Forex News from InstaForex

Postby IFX Gertrude » Tue Sep 25, 2018 12:35 am

BoJ Minutes: Japanese Economy Continues To See Moderate Expansion

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Members of the Bank of Japan's monetary policy meeting said that Japan's economic expansion is continuing at an acceptable pace, minutes from the bank's meeting on July 30 and 31 revealed on Tuesday.

At the meeting, the central bank retained its massive monetary stimulus as expected, including the -0.1 percent interest rate on current accounts that financial institutions maintain at the bank.

"The staff explained that one option would be to indicate that the Bank intended to maintain the current extremely low levels of short- and long-term interest rates for an extended period of time, taking into account uncertainties regarding economic activity and prices," the minutes said.

The bank will continue to purchase government bonds so that the yield on the 10-year Japanese government bonds remains at around zero percent.

The BoJ is set to conduct purchases of Japanese government bonds in a flexible manner so that the outstanding amount will increase at an annual pace of about JPY 80 trillion.

Annual inflation is expected to gradually continue rising towards the target goal of 2 percent, the minutes said. The inflation outlook was downgraded, while maintaining growth projections.

The inflation forecast for fiscal 2018 was trimmed to 1.1 percent from 1.3 percent. Likewise, the projection for fiscal 2019 was lowered to 1.5 percent from 1.8 percent and that for 2020 to 1.6 percent from 1.8 percent.

"With regard to the outlook, the year-on-year rate of change in the CPI (all items less fresh food) was likely to increase gradually toward 2 percent, mainly on the back of a rise in medium- to long-term inflation expectations with the output gap remaining positive," the minutes said.

At the same time, the bank maintained its growth forecast for both fiscal 2019 and fiscal 2020 at 0.8 percent.

Overseas economies are generally seeing continued growth, the minutes said, although global financial markets are intermittently seeing periods of instability.

"The Bank will examine the risks considered most relevant to the conduct of monetary policy and make policy adjustments as appropriate," the minutes said.

Also on Tuesday, the central bank said that producer prices in Japan were up 1.3 percent on year in August - exceeding expectations for an increase of 1.1 percent, which would have been unchanged from the July reading.

On a monthly basis, producer prices were unchanged after rising 0.1 percent in the previous month.

Among the individual components, prices were up for advertising services, information and communications and real estate.

Prices were down for architectural services and hotels.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Wed Sep 26, 2018 1:07 am

New Zealand Has NZ$1.484 Billion Trade Deficit

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New Zealand had a record merchandise trade deficit of NZ$1.484 billion in August, Statistics New Zealand said on Wednesday - representing 37 percent of exports.

That missed forecasts for a shortfall of NZ$925 million following the revised deficit of NZ$196 million in July (originally -NZ$143 million).

The average monthly deficit in August over the last five years was NZ$1.0 billion. "This month's rise in imports to near record levels occurs at the time of year when exports are typically at a low point," international statistics manager Tehseen Islam said. Exports were up 9.9 percent on year in August to NZ$4.05 billion - missing forecasts for NZ$4.40 billion and down sharply from NZ$5.34 billion in the previous month.

The leading contributor to the rise was meat products and edible offal, up NZ$137 million (43 percent). This increase was led by sheep meat (up NZ$83 million or 55 percent) and beef (up NZ$45 million or 31 percent).

"New Zealand is exporting more beef and lamb, and getting better prices too," Islam said.

Dairy products were up NZ$80 million (17 percent), led by an increase in butter and other milk fats, up NZ$63 million.

Imports jumped an annual 14.0 percent to NZ$5.54 billion versus expectations for NZ$5.50 billion - roughly unchanged from the previous month.

The leading contributor to the imports rise was petroleum and products, up NZ$186 million (50 percent) from last year. This increase was led by crude oil (up NZ$98 million) and diesel (up NZ$73 million).

Imports of crude oil and other petroleum products tend to fluctuate from month to month. The quantity of crude oil imported in August 2018 fell 13 percent from August 2017, but prices rose by about 60 percent.

The latest unit price for crude oil remains 31 percent lower than the most-recent series peak in May 2012. Imports of vehicles, parts, and accessories also rose in August 2018, up NZ$55 million.

Imports of buses, cars, and trucks all had similar contributions to this rise.

The annual trade deficit was NZ$4.8 billion in August 2018, up from NZ$3.1 billion in August 2017.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Thu Sep 27, 2018 1:07 am

European Economics Preview: Eurozone Economic Sentiment Data Due

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Economic confidence survey from euro area and consumer prices from Germany are due on Thursday, headlining a busy day for the European economic news.

At 2.00 am ET, Germany's GfK consumer confidence data is due. The forward-looking consumer sentiment index is seen unchanged at 10.5 in October.

At 3.00 am ET, unemployment from Hungary and economic tendency survey results from Sweden are due. Sweden's economic tendency index is seen falling to 110.3 in September from 111.5 in August.

At 4.00 am ET, the European Central Bank is set to publish economic bulletin.

Also, the ECB releases M3 money supply data. Economists forecast M3 to grow 3.9 percent on year in August, following a 4 percent rise in July.

In the meantime, Italy's business and consumer sentiment survey results are due.

At 5.00 am ET, European Commission is set to issue euro area economic sentiment survey data. The economic confidence index is expected to fall to 111.2 in September from 111.6 in August.

At 8.00 am ET, Germany's preliminary inflation data is due. Inflation is seen unchanged at 2 percent in September.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Fri Sep 28, 2018 12:27 am

Japan Industrial Production Adds 0.7% In August

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Industrial production in Japan was up 0.7 percent on month in August, the Ministry of Internal Affairs and Communications said in Friday's preliminary reading.

That was shy of forecasts for an increase of 1.4 percent following the 0.1 percent decline in July.

On a yearly basis, industrial production added 0.6 percent - again missing forecasts for an increase of 1.5 percent and down sharply from 2.2 percent in the previous month.

Upon the release of the data, the METI's assessment of industrial production was that it is "picking up slowly but shows signs of decrease in part."

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Re: Forex News from InstaForex

Postby IFX Gertrude » Mon Oct 01, 2018 12:35 am

Vietnam Manufacturing PMI Slides In September - Nikkei

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The manufacturing sector in Vietnam continued to expand in September, albeit at a slower rate, the latest survey from Nikkei revealed on Monday with a manufacturing PMI score of 51.5.

That's down from 53.7 in August, although it remains above the boom-or-bust line of 50 that separates expansion from contraction. Individually, there were slower rises in output, new orders and employment.

Last month saw the first reduction in output prices in 13 months, while the rate of input cost inflation also eased.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Tue Oct 02, 2018 12:49 am

European Economics Preview: UK Construction PMI Data Due

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Purchasing Managers' survey data from the UK is due on Tuesday, headlining a light day for the European economic news.

At 2.00 am ET, August producer price data is due from Romania. Producer prices had increased 6 percent annually in July.

At 3.00 am ET, final GDP from the Czech Republic and final foreign trade from Hungary are due. The Czech statistical office is expected to confirm 0.7 percent sequential growth for the second quarter.

At 4.30 am ET, UK Markit/CIPS construction PMI data is due. The indicator is forecast to remain unchanged at 52.9 in September.

At 5.00 am ET, Eurostat is slated to issue euro area producer prices for August. Economists forecast producer prices to rise 3.8 percent on year, following a 4 percent increase in July.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Wed Oct 03, 2018 1:29 am

Japan Service Activity Slows In September - Nikkei

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The services sector in Japan continued to expand in September, but at a sharply slower pace, the latest survey from Nikkei revealed on Friday with a two-year low services PMI score of 50.2.

That's down from 51.5 in August, although it remains barely above the boom-or-bust line of 50 that separates expansion from contraction.

Individually, demand and employment continued to rise, although price pressure remained elevated.

The survey also said that the composite index fell to 50.7 in September, down from 52.0 in August.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Thu Oct 04, 2018 12:45 am

Australia Trade Surplus Increases In August

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Australia's trade surplus increased in August on higher exports, data from the Australian Bureau of Statistics showed Thursday.

The trade surplus rose to a seasonally adjusted A$1.6 billion from A$1.55 billion in July. Economists had forecast a fall in surplus, to A$1.45 billion.

Exports of goods and services gained 1 percent on month to A$36.56 billion. At the same time, imports remained broadly unchanged in August, at A$34.96 billion.

The small rise in the international trade surplus in August provides more evidence that the US-China trade war is not affecting Australia's external sector, Paul Dales, an economist at Capital Economics, said.

In fact, the recent weakening in the Australian dollar will probably mean that the external sector makes a decent contribution to GDP growth next year.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Fri Oct 05, 2018 1:18 am

Australia's Retail Sales Rise Moderately In August

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Australia's retail turnover logged a moderate growth in August, the Australian Bureau of Statistics said Friday.

Retail sales grew 0.3 percent month-on-month in August, following a relatively unchanged estimate in July and a 0.4 percent rise in June. Sales were expected to climb 0.2 percent.

There were rises in New South Wales, Victoria, South Australia, Queensland, Tasmania and the Australian Capital Territory. Western Australia was relatively unchanged, whilst there was a fall in the Northern Territory.

Over a longer-term and in a general sense, household income growth is expected to remain subdued and the major constraint on consumer spending with a likely negative wealth effect from the decline in home prices an additional headwind, Simon Murray, an economist at Westpac, said.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Mon Oct 08, 2018 1:56 am

European Economics Preview: Germany's Industrial Output Data Due

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Industrial production from Germany and investor confidence from euro area are due on Monday, headlining a light day for the European economic news. At 1.45 am ET, the State Secretariat for Economic Affairs releases Swiss unemployment data. The jobless rate is forecast to drop slightly to 2.5 percent in September from 2.6 percent in August.

At 2.00 am ET, Destatis is slated to issue Germany's industrial production data. Output is forecast to grow 0.5 percent on month in August, reversing a 1.1 percent drop in July. Norway's industrial output data is also due at 2.00 am ET.

At 3.00 am ET, Czech industrial production and retail sales figures are due. Economists forecast industrial production to grow 3.9 percent on year in August, slower than the 10.3 percent rise in July. Likewise, the Czech retail sales growth is expected to ease to 4.3 percent in August from 7 percent a month ago.

At 4.30 am ET, Eurozone Sentix investor confidence data is due. The sentiment index is forecast to drop to 11.8 in October from 12 in September.

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