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Re: Forex News from InstaForex

Postby IFX Gertrude » Mon Jul 22, 2019 12:10 am

CBI Urges Next UK PM To Act Fast To Get Economy Back On Track

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The next UK Prime Minister should restore confidence and take action to bring the economy back on track, the Confederation of British Industry said in its Business Manifesto published Monday. Carolyn Fairbairn, the CBI's Director General called for a clear direction for the UK and to build a long-term vision that drives in investment and back business as a foundation of a growing, inclusive economy.

Brexit has stalled progress on the UK economy for three years. A Brexit deal remains a top priority for business, but a broader vision is needed, the lobby noted.

"Early signals matter. The UK is a fantastic place to do business but we must be honest - the reputation of our country has taken a dent in recent times," Fairbairn said.

"Our new Prime Minister has a real chance to inject a new lease of life into the UK economy and show the world we are open for investment."

The manifesto also called for fast action to show world that the UK remains a trusted place to do business and to build a compelling economic vision for the UK of the future.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Tue Jul 23, 2019 12:25 am

BoJ Closely Examining Heightened Global Uncertainties, Says Kuroda

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The Bank of Japan is carefully monitoring heightened uncertainties regarding the global economy as some nervousness has been seen in global financial markets, Governor Haruhiko Kuroda said Tuesday.

"We will carefully examine various risk factors, in addition to developments in economic activity and prices as well as financial conditions, and weigh the benefits and costs of the policy effects," Kuroda said in a speech at the International Monetary Fund.

He said Japan's economy is no longer in deflation as the central bank continued its powerful monetary easing.

"The positive annual CPI inflation has taken hold, and the economy is no longer in deflation in the sense of a sustained decline in prices," Kuroda added.

Inflation is in the range of 0.5-1.0 percent. The banker reiterated that the BoJ will persistently continue with easing in order to maintain the momentum toward achieving 2 percent inflation target.

However, Kuroda said it is not easy to continue with such powerful quantitative and qualitative monetary easing for a long time.

Further, he said the bank adopted yield curve control in 2016, aiming to control both short-and long-term interest rates of bonds.

"In exerting monetary easing effects stably for a long time, the Bank judges that yield curve control is a better framework in terms of both controllability and sustainability," Kuroda added.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Tue Jul 23, 2019 10:17 pm

Gold in anticipation of the Fed rate cut

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Surprisingly, but a fact: amid the strengthening greenback, gold renews its perennial highs.

Since 2013, the precious metal has been trading in the range of $1050-1385 per ounce, and only recently strengthened expectations regarding easing of monetary policy by the Federal Reserve System (FRS) of the United States allowed quotes to come out.

The main obstacle in the path of "bulls" on XAU/USD is traditionally considered to be a strong dollar, but even now its position does not seem to be hopeless. What then is the matter?

If in 2014-2018, the US currency showed growth due to the tightening of the monetary rate of the Fed, then at present it remains stable primarily due to the weakness of competitors.

The Fed is signaling its intention to carry out monetary expansion for preventive purposes. The Bank of England in front of the "hawk" turns into a "dove". The ECB is also ready to ease monetary policy.

In conditions when it is difficult to find a strong currency, investors switch to other assets.

Promotions?

The historical highs of the S&P 500 index are undoubtedly impressive, but the higher it grows, the stronger the impression that this is a "bubble". The only driver of the rally is investor confidence in aggressively lowering the Fed rate. If the US central bank does not go in the wake of the market, the fall of the S&P 500 will be guaranteed. Bonds?

Under normal conditions, bonds act as an alternative to gold and take advantage of it in the form of interest income. However, when the volume of negative-yield bonds traded on the global market increases by leaps and bounds, and currently exceeds $13 trillion, investors start looking at the yellow precious metal in a completely different way. Buying gold seems to be the best choice for them. In fact, which is preferable: not having interest income or paying extra for the fact that you own bonds?

Is it any wonder, then, that in the conditions of only a formally strong dollar, the increasing risks of lowering the S&P 500 and the growing number of traded bonds with negative yields, investors prefer gold? Gold ETF reserves have already exceeded 74 million ounces - less than 18 million below the record high of 92 million ounces recorded in 2011.

"The vector of the monetary policy of key central banks seems to have changed, so we are optimistic about the prospects for the yellow precious metal," said experts from Citigroup. "

We expect the Fed to cut its interest rate by 25 basis points at the July meeting. At the same time, we do not exclude that the regulator can reduce it immediately by 50 basis points. The beginning of the decline in interest rates in the United States will be a positive event for the bulls on gold," they added.

According to Citigroup's forecast, in the third quarter the price of gold will average $1,425 per ounce, and in the fourth quarter - $1,450.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Wed Jul 24, 2019 10:21 pm

Japan Producer Prices Rise 0.7% On Year In June

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Producer prices in Japan were up 0.7 percent on year in June, the Bank of Japan said on Thursday - shy of expectations for 0.8 percent and down from the upwardly revised 0.9 percent gain in May (originally 0.8 percent).

On a monthly basis, producer prices eased 0.1 percent after sliding 0.2 percent in the previous month.

Individually, prices were up for transportation, real estate, advertising and leasing. Prices were steady at financial services and down for communication and information services.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Fri Jul 26, 2019 12:11 am

JPMorgan predicts the decline of the dollar era

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The position of the greenback in the foreseeable future may falter, and it even runs the risk of losing the status of the main global reserve currency, analysts at JPMorgan Chase warn.

"The dollar has been the main global reserve currency for almost 100 years. During this time, many investors, including those outside the United States, have become accustomed to the fact that dollar assets occupy a "higher than market" share in their portfolios. However, we believe that the US currency may lose its unique status due to structural and cyclical reasons, which will lead to a decline in its rate," representatives of the financial institute said.

"After the end of World War II, the United States became the largest global economy, accounting for a quarter of global GDP. If we add the countries of Western Europe, then this value will increase to 40%. Since then, fast-growing Asia, in the heart of which China is located, has consistently won back the share of the world market from the West, "they added.

According to experts, as the Asian region develops, the share of transactions in currencies other than the dollar will inevitably grow.

"In addition, the current US administration has questioned agreements with all major US trading partners - from Mexico and Canada to China and the EU, and also left the Trans-Pacific Partnership. Such unfriendly actions on the part of Washington can induce these states to reduce the share of the dollar in trade calculations," noted JPMorgan experts.

They believe that the permanent fiscal and trade deficits of the United States can trigger a decline in the dollar against a basket of currencies and gold, and advise investors to diversify their portfolios so that they prefer other currencies in developed markets and in Asia, as well as precious metals.

However, according to analysts, selling the dollar immediately is also not worth it, because shifts in preferences in financial markets take a very long time, so those who are counting on a quick weakening of the US currency should have extraordinary patience.

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Re: Forex News from InstaForex

Postby IFX Yvonne » Mon Jul 29, 2019 2:30 am

UK Private Sector Activity Continues To Contract: CBI

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The UK private sector activity continued to fall in three months to July but at a slightly slower pace, the monthly growth indicator from the Confederation of British Industry showed Sunday.

The balance of firms posting growth came in at -9 percent. This was the ninth straight rolling quarter of either flat or falling volumes.

Services activity logged a slower decline amid a marked decrease in both distribution and manufacturing volumes.

Nonetheless, private sector growth is forecast to pick up, with a balance of 9 percent expecting an improvement in the three months to October.

The growth indicator suggested a subdued start to the third quarter, following other recent data which indicated economic growth slowed noticeably in the second quarter of 2019.

"A new Prime Minister marks a fresh start and early signals matter," Annie Gascoyne, CBI director of economic policy, said. "Business is looking for a Brexit deal that unlocks confidence; clear signals the UK remains open to the world; and a willingness to work together with business on issues ranging from climate change to digital connectivity."
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Re: Forex News from InstaForex

Postby IFX Gertrude » Mon Jul 29, 2019 10:30 pm

Japan Industrial Production Slides 3.6% In June

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Industrial output in Japan was down a seasonally adjusted 3.6 percent on month in June, the Ministry of Economy, Trade and Industry said in Tuesday's preliminary reading.

That missed forecasts for a decline of 1.8 percent following the 2.0 percent gain in May.

On a yearly basis, industrial production sank 4.1 percent - again missing expectations for a drop of 2.0 percent after sliding 2.1 percent in the previous month.

Upon the release of the data, the METI maintained its assessment of industrial production, saying that it continues to fluctuate indecisively.

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Re: Forex News from InstaForex

Postby IFX Yvonne » Wed Jul 31, 2019 2:52 am

European Economics Preview: Eurozone GDP Data Due

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Quarterly national accounts, flash inflation and unemployment figures from the euro area are due on Wednesday, headlining a busy day for the European economic news.

At 2.00 am ET, the Nationwide Building Society is slated to issue UK house price data for July. Economists forecast house prices to rise 0.1 percent annually after climbing 0.5 percent in June.

In the meantime, retail sales and unemployment reports are due from Germany. Economists forecast retail sales to grow 0.6 percent on year in June, slower than the 4 percent increase in May.

At 2.45 am ET, France's Insee releases flash inflation data for July. Inflation is expected to remain unchanged at 1.2 percent.

At 3.00 am ET, GDP from Spain and foreign trade from Turkey are due.

At 3.55 am ET, the Federal Labor Agency is scheduled to issue Germany's unemployment figures. The jobless rate is seen unchanged at 5 percent in July.

At 4.00 am ET, Italy's unemployment figures are due. The jobless rate is expected to rise slightly to 10 percent in June from 9.9 percent in May.

At 5.00 am ET, Eurostat publishes Eurozone GDP, inflation and unemployment figures for the second quarter. The economy is forecast to grow 0.2 percent on quarter, slower than the 0.4 percent expansion in the first quarter.

Flash inflation is expected to ease slightly to 1.1 percent in July from 1.2 percent in June. Economists forecast euro area jobless rate to remain unchanged at 7.5 percent in June.

At 6.00 am ET, Italy's Istat releases GDP data for the second quarter. GDP is expected to drop 0.1 percent on quarter, reversing a 0.1 percent rise in the first quarter.
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Re: Forex News from InstaForex

Postby IFX Gertrude » Wed Jul 31, 2019 10:27 pm

Philippines Manufacturing Sector Picks Up Steam In July - Market

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The manufacturing sector in the Philippines continued to expand in July, and at a faster rate, the latest survey from Markit Economics revealed on Thursday with a manufacturing PMI score of 52.1.

That's up from 51.3 in June, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

Individually, new order growth was at its strongest in six months, while employment rose for the first time since February.

Output price inflation was at a two-year low.

With output and sales growth remaining strong, businesses remained optimistic regarding future activity.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Fri Aug 02, 2019 12:12 am

European Economics Preview: Eurozone Retail Sales Data Due

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Retail sales and producer prices from Eurozone are due on Friday, headlining a light day for the European economic news.

At 2.30 am ET, the Federal Statistical Office is scheduled to issue Swiss inflation figures. Inflation is seen easing to 0.5 percent in July from 0.6 percent in June.

At 3.00 am ET, retail sales data is due from Hungary. Economists expect sales to grow 6 percent on year in June, after rising 2.6 percent in May.

At 4.00 am ET, Italy's Istat publishes industrial production data for June. Economists forecast output to drop 0.3 percent on month, in contrast to a 0.9 percent rise in May.

At 4.30 am ET, IHS Markit releases UK construction Purchasing Managers' survey data for July. The construction PMI is forecast to rise to 46.0 in July from 43.1 in June.

At 5.00 am ET, Eurostat releases euro area retail sales and producer price data. Sales are forecast to grow 0.2 percent on month in June, reversing a 0.3 percent drop in May.

Economists expect producer prices to climb 0.8 percent annually in June after rising 1.6 percent a month ago.

In the meantime, Italy's retail sales data is due for June. Sales had decreased 0.7 percent on month in May.

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