Forex News from InstaForex

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Re: Forex News from InstaForex

Postby IFX Gertrude » Wed Sep 09, 2020 1:39 am

NEW ZEALAND Q2 MANUFACTURING VOLUME SINKS 12%

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The volume of total manufacturing sales in New Zealand was down 12 percent on year in the second quarter of 2020, Statistics New Zealand said on Wednesday.

The value of manufacturing sales dropped an annual 9.5 percent, while the volume of total manufacturing finished goods stocks fell 2.1 percent.

The total wholesale trade sales value declined 10 percent on year toNZ$2.7 billion, while the total value of wholesales trade stocks was down 1.6 percent on year or NZ$206 million to NZ$13 billion.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Wed Sep 09, 2020 10:55 pm

JAPAN JULY CORE MACHINE ORDERS CLIMB 6.3% ON MONTH

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The total value of core machine orders in Japan gained a seasonally adjusted 6.3 percent on month in July, the Cabinet Office said on Thursday - coming in at 751.3 billion yen.

That beat expectations for an increase of 1.9 percent following the 7.6 percent decline in June. On a yearly basis, core machine orders dropped 16.2 percent - also beating forecasts for a fall of 18.3 percent after tumbling 22.5 percent in the previous month.

Government orders plummeted 30.4 percent on month and 18.5 percent on year in July, while orders from overseas gained 13.8 percent on month and sank 25.3 percent on year.

Orders from agencies rose 2.3 percent on month and dropped 15.0 percent on year.

For the third quarter of 2020, core machine orders are forecast to have fallen 1.9 percent on quarter and 15.5 percent on year.

The total value of machinery orders received by 280 manufacturers operating in Japan - including volatile ones for ships and those from electric power companies - increased by 7.0 percent in July from the previous month and fell 19.4 percent on year.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Wed Sep 16, 2020 1:41 am

EUROPEAN ECONOMICS PREVIEW: UK CONSUMER PRICE DATA DUE

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Consumer and producer prices from the UK are due on Tuesday, headlining a light day for the European economic news.

At 2.00 am ET, the Office for National Statistics is set to publish UK consumer and producer prices for August. Inflation is forecast to ease to 0.1 percent from 1 percent in July.

Economists forecast UK output prices to fall 0.7 percent annually, following a 0.9 percent decline a month ago. Likewise, the decline in input prices is expected to slow to 4.9 percent from 5.7 percent.

At 3.00 am ET, the Czech Statistical Office issues producer prices for August. Prices are expected to drop 0.1 percent on year.

At 4.30 am ET, the Office for National Statistics releases UK house price data for June.

Half an hour later, Eurostat publishes external trade data for July. The euro area trade surplus is seen at EUR 12.6 billion versus EUR 21.2 billion in June.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Thu Sep 17, 2020 1:33 am

EUROPEAN ECONOMICS PREVIEW: BANK OF ENGLAND POLICY ANNOUNCEMENT DUE

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The Bank of England is set to announce the outcome of its monetary policy meeting on Thursday, headlining a busy day for the European economic news.

At 2.00 am ET, the European Automobile Manufacturers' Association is slated to publish Europe's new car registration data for July/August. In the meantime, August foreign trade data is due from Switzerland. The surplus totaled CHF 2.58 billion in July.

At 3.00 am ET, HICP figures are due from Austria and Slovakia.

At 4.00 am ET, gross wages from Poland and foreign trade from Italy are due. Economists forecast Poland's gross wages to climb 4 percent on year in August versus a 3.8 percent rise in July.

At 5.00 am ET, Eurostat is scheduled to issue euro area final consumer price data for August. According to preliminary estimate, consumer prices had dropped 0.2 percent annually, reversing a 0.4 percent rise in July.

At 7.00 am ET, the BoE releases the monetary policy summary and the minutes of the monetary policy committee meeting. Economists expect the bank to hold its key rate at a record low 0.10 percent and asset purchase programme at GBP 745 billion.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Thu Sep 17, 2020 11:32 pm

JAPAN OVERALL INFLATION SLOWS TO 0.2% ON YEAR IN AUGUST

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Overall nationwide consumer prices in Japan were up 0.2 percent on year in August, the Ministry of Internal Affairs and Communications said on Friday - in line with expectations and slowing from 0.3 percent in July.

Core CPI, which excludes volatile food costs, sank an annual 0.4 percent - again matching forecasts following the flat reading in the previous month.

Individually, prices were down for fuel, education and recreation - while prices were higher for food, housing, furniture, clothing and medical care.

On a seasonally adjusted monthly basis, overall inflation slipped 0.1 percent and core CPI dropped 0.4

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Re: Forex News from InstaForex

Postby IFX Gertrude » Mon Sep 21, 2020 2:41 am

CHINA KEEPS BENCHMARK RATES ON HOLD

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China retained its benchmark rates for the fifth straight month as the economy continued to log robust recovery from the downturn caused by the coronavirus pandemic.

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 interest rates were expected to be retained today as the rate on its medium-term lending facility or MLF, which serves as a guide for the LPR, was maintained early this month.

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.

With the economy now largely back to its pre-virus path and the People's Bank of China appearing reluctant to keep monetary policy loose for longer than needed, the next move in the LPR is likely to be an increase early next year, Julian Evans-Pritchard, an economist at Capital Economics said.

With fiscal policy to remain supportive for the remainder of the year, the PBOC appears to see little need for further rate declines and has instead shifted its focus back to containing financial risks, the economist noted.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Thu Sep 24, 2020 2:09 am

EUROPEAN ECONOMICS PREVIEW: SWISS MONETARY POLICY DECISION DUE

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The monetary policy announcement from the Swiss National Bank and business confidence from Germany are due on Thursday, headlining a busy day for the European economic news.

At 2.45 am ET, France's statistical office Insee is set to issue business confidence survey data. The sentiment index is forecast to rise to 95 in September from 93 in August.

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

Half an hour later, the Swiss National Bank is scheduled to announce its interest rate decision. The bank is expected to leave its key interest rate unchanged at -0.75 percent.

At 4.00 am ET, Germany's Ifo business confidence survey data is due. The business sentiment index is forecast to rise to 93.8 in September from 92.6 in August.

In the meantime, the European Central Bank releases economic bulletin and Norges Bank is set to announce its rate decision. The Norges Bank is expected to hold its rate at zero percent.

At 5.00 am ET, Italy's non-EU foreign trade data is due for August.

At 6.00 am ET, the Confederation of British Industry releases Distributive Trades survey data. The order book balance is forecast to rise to -35 percent in August from -46 percent in July.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Thu Sep 24, 2020 9:26 pm

DOLLAR TURNS SUBDUED AFTER EARLY STRENGTH

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After staying positive for much of the session till noon, the U.S. dollar turned weak and posted losses against some of its peers on Thursday.

Data released by the Labor Department this morning showed an unexpected uptick in first-time claims for U.S. unemployment benefits in the week ended September 19th.

The data said initial jobless claims inched up to 870,000, an increase of 4,000 from the previous week's revised level of 866,000. Economists had expected jobless claims to drop to 843,000 from the 860,000 originally reported for the previous week.

A separate report released by the Commerce Department showed new home sales jumped by 4.8% to an annual rate of 1.011 million in August after skyrocketing by 14.7% to an upwardly revised rate of 965,000 in July. Economists had expected new home sales to pull back by 1.2%.

The dollar index, which rose to 94.59 in late morning trades, fell to a low of 94.20 around mid afternoon and was last seen at 94.37, down slightly from previous close.

Against the Euro, the dollar firmed up to 1.627 before losing ground and slipping to 1.1689. It subsequently regained some lost ground and was hovering around 1.1670 a little while ago, netting a small loss.

The Pound Sterling was slightly firmer, fetching $1.2741, compared to $1.2726 on Wednesday afternoon.

The Yen was slightly weak at 105.42 a dollar, after recovering from 105.54.

The Aussie was stronger with the AUD-USD pair trading at 0.7045, up nearly 0.4%.

The Swiss franc was weaker against the greenback at 0.9629, down more than 0.3% from Wednesday's close, while the Loonie was firmer against the dollar at C$1.3359, gaining about 0.2%.

During their latest speeches some Fed officials' called for more fiscal stimulus. The call for fiscal stimulus and rising worries about the pace of global economic recovery amid surging coronavirus cases lifted demand for the safe-haven currency.

Fed Chair Jerome Powell said on Wednesday that the economy had a long way to go before recovery and further fiscal support is required to limit damage caused by the coronavirus pandemic.

Fed Vice Chair Richard Clarida said that the economy was still in a deep hole and policymakers "are not even going to begin thinking" about raising interest rates for now.

Switzerland's central bank retained its negative interest rates and said the expansionary monetary policy stance is needed to cushion the impact of the coronavirus pandemic on economic activity and inflation.

About high valuation of Swiss franc, the bank said it is willing to 'intervene more strongly' in the foreign exchange market, while taking the overall exchange rate situation into consideration.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Mon Sep 28, 2020 1:51 am

JAPAN LEADING INDEX DATA DUE ON MONDAY

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Japan will on Monday release final July numbers for its leading and coincident economic indexes, highlighting a light day for Asia-Pacific economic activity.

The leading index is tipped to see a score of 86.9, up from 83.8 previously - while the coincident is pegged at 76.2, up from 74.4.

Singapore will release August numbers for import and export prices and producer prices. In July, import prices were up 7.5 percent on year and export prices tumbled an annual 7.0 percent. Producer prices were down 8.5 percent on year.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Wed Sep 30, 2020 1:24 am

UK SHOP PRICES CONTINUE TO FALL IN SEPTEMBER:

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UK shop prices continued to decrease in September on falling non-food prices, data from the British Retail Consortium, or BRC, revealed Wednesday.

The shop price index dropped 1.6 percent year-on-year, the same pace of decrease as seen in August. Non-food prices decreased 3.2 percent in September compared to a decline of 3.4 percent in August. At the same time, food inflation eased to 1.2 percent from 1.3 percent in August. Fresh food inflation held steady at 0.2 percent.

Retailers are cutting prices in order to encourage further spending where sales are yet to pick up, Helen Dickinson, chief executive at BRC, said. In addition, September saw the lowest rate of fresh food inflation since 2017, which has been mostly driven by the continued availability of fresh, local food produce.

Mike Watkins, Head of Retailer and Business Insight, Nielsen, said "Looking ahead we can expect shop price inflation to remain at current low levels for the next quarter."

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