Forex News from InstaForex

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Re: Forex News from InstaForex

Postby IFX Gertrude » Mon Nov 30, 2020 1:49 am

EUROPEAN ECONOMICS PREVIEW: GERMANY FLASH INFLATION DATA DUE

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Flash consumer prices from Germany and mortgage approvals from the UK are due on Monday, headlining a busy day for the European economic news.

At 2.00 am ET, the Turkish Statistical Institute releases GDP data for the third quarter and trade data for October.

At 3.00 am ET, Spain's INE releases flash consumer price data. EU harmonized prices are forecast to drop 0.8 percent on year in November, following a 0.9 percent decrease in October.

In the meantime, producer prices and GDP figures are due from Austria.

At 4.00 am ET, GDP data is due from Poland and Iceland.

Half an hour later, the Bank of England releases mortgage approvals data for October. The number of mortgages approved fell to 84,490 from 91,450 in September.

At 5.00 am ET, Italy's Istat releases preliminary consumer prices for November. Economists forecast prices to drop 0.4 percent on year, after easing 0.3 percent in October.

At 8.00 am ET, Destatis is scheduled to issue Germany's flash consumer prices for November. Consumer prices are seen falling 0.1 percent annually versus a 0.2 percent decrease a month ago.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Tue Dec 01, 2020 1:28 am

RBA KEEPS POLICY UNCHANGED

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Australia's central bank maintained its key interest rate and vowed to keep the record low rate for at least three years.

The policy board of the Reserve Bank of Australia headed by the governor Philip Lowe decided on Tuesday to leave its key rate unchanged at a record low of 0.10 percent.

The central bank holds the target for the yield on the 3-year Australian Government bond at around 0.1 percent and the parameters of the Term Funding Facility and the government bond purchase program.

The board will not increase the cash rate until actual inflation is sustainably within the 2 to 3 per cent target range, the bank said. Given the outlook, the board is not expecting to increase the cash rate for at least three years.

The board will keep the size of the bond purchase program under review, particularly in light of the evolving outlook for jobs and inflation. The board said it is prepared to do more if necessary.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Wed Dec 02, 2020 1:29 am

SOUTH KOREA INFLATION CLIMBS 0.6% ON YEAR IN NOVEMBER

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Consumer prices in South Korea were up 0.6 percent on year in November, Statistics Korea said on Wednesday.

That missed forecasts for an increase of 0.9 percent but was up from 0.1 percent in the previous month.

On a monthly basis, inflation eased 0.1 percent - again shy of expectations for an increase of 0.2 percent but improving from the 0.6 percent contraction in October.

Core CPI, which excludes volatile food costs, gained an annual 0.6 percent after slipping 0.3 percent a month earlier.
utlook for jobs and inflation. The board said it is prepared to do more if necessary.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Thu Dec 03, 2020 1:54 am

CHINA SERVICES SECTOR PICKS UP STEAM IN NOVEMBER - CAIXIN

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The services sector in China continued to expand in November, and at a faster rate, the latest survey from Caixin showed on Thursday with a services PMI score of 57.8.

That's up from 56.8 in October, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

Individually, there was a substantial rise in business activity amid the quickest increase in new work since 2010.

Employment growth was also at its strongest in 10 years, as were input costs. The survey also showed that its composite index improved to 57.5 in November from 55.7 in October.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Fri Dec 04, 2020 1:28 am

INDIA'S CENTRAL BANK LEAVES KEY RATES UNCHANGED

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India's central bank left its key interest rates unchanged as widely expected as inflation remains elevated.

The Monetary Policy Committee, led by Governor Shaktikanta Das, voted unanimously to hold the policy repo rate at 4.00 percent. The reverse repo rate was retained at 3.35 percent.

The Marginal Standing Facility or MSF rate, and the Bank rate remained unchanged at 4.25 percent.

The last change in the benchmark rate was a 40 basis point cut in May, taking the cumulative reduction to 250 basis points since February 2019.

Das said the bank will continue with accommodative policy stance as long as necessary, at least for the current financial year and into the next year.

The bank projected real GDP to fall 7.5 percent in the financial year 2021-21. Das said inflation is likely to remain elevated. This constrains monetary policy at the current juncture.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Mon Dec 07, 2020 1:10 am

CHINA EXPORTS SURGE IN NOVEMBER

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China's exports surged in November driven by robust global demand, data from the General Administration of Customs showed on Monday.

Exports advanced 21.1 percent year-on-year in November, much bigger than the economists' forecast of 12 percent.

At the same time, imports grew moderately by 4.5 percent annually, which was also faster than the 6.1 percent increase expected by economists.

As a result, the trade surplus increased to $75.4 billion in November. Economists had forecast the surplus to fall to $53.5 billion from $58.44 billion in the previous month.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Tue Dec 08, 2020 1:28 am

AUSTRALIA TOTAL DWELLING APPROVALS +3.8% ON MONTH IN OCTOBER

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The total number of building permits issued in October was up a seasonally adjusted 3.8 percent on month in October, the Australian Bureau of Statistics said on Tuesday - standing at 16,584.

Permits for private sector house increased 3.1 percent on month to 10,692, while permits for private sector dwellings excluding houses jumped 6.2 percent to 5,529.

On a yearly basis, overall permits rose 14.3 percent, private sector houses surged 31.7 percent and private sector dwellings excluding houses dropped 10.6 percent.

The value of total building approved rose 26.1 percent on month in October. Non-residential building drove the increase, rising 58.6 percent, having fallen 35.4 percent in September. The value of total residential building increased 9.4 percent in October.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Wed Dec 09, 2020 1:45 am

EUROPEAN ECONOMICS PREVIEW: GERMANY'S FOREIGN TRADE DATA DUE

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Foreign trade data from Germany is due on Wednesday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis is scheduled to issue Germany's foreign trade figures for October. Exports are forecast to climb 1.2 percent on month, slower than September's 2.3 percent increase. Meanwhile, imports are expected to rise 1 percent, reversing a 0.1 percent fall.

At 3.00 am ET, Spain's INE releases industrial production data for October. Economists expect the production to fall 2.6 percent on year, following a 3.4 percent decrease in September.

In the meantime, foreign trade from Austria, Slovakia and Hungary are due. Slovakia's trade surplus is seen at EUR 724.8 million in October versus EUR 707.9 million a month ago.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Thu Dec 10, 2020 1:16 am

PHILIPPINES OCTOBER TRADE DEFICIT $1,776 BILLION

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The Philippines posted a merchandise trade deficit of $1.776 billion in October, the statistics office said on Thursday.

That follows the $1.707 billion shortfall in the previous month.

Exports were down 2.2 percent on year after rising 2.2 percent in September.

Imports plummeted an annual 19.5 percent after slipping 16.5 percent a month earlier.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Fri Dec 11, 2020 1:31 am

NEW ZEALAND FOOD PRICES FALL AS BORDER RESTRICTIONS DAMPEN EXPORTS

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New Zealand food prices declined in November as the Covid-19 restrictions reduced exports, Stats NZ said Friday.

Food prices fell 0.9 percent month-on-month in November, bigger than the 0.7 percent drop posted in October.

Rising air freight costs since the coronavirus border closures has made exporting products much more expensive. Moreover, shortage of international workers in the fruit picking industry has meant that growers cannot pick their fields fast enough, data revealed.

"With less exports there is more supply available for domestic consumption, causing lower prices," consumer prices manager Katrina Dewbery said.

"Prices are lower than we typically see for a November month with December generally being when they are cheapest. Some people may be seeing even cheaper prices during the first half of December," Dewbery said.

Despite a sharp 43 percent decrease in strawberry prices, fruit prices advanced 5.2 percent, while vegetable prices dropped 9.9 percent.

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