Forex News from InstaForex

[IFX Gertrude]

Canadian dollar rises before Fed rate decision



The Canadian dollar climbed Tuesday as crude prices inched higher, but investors were mostly hesitant to make huge bets before the much-awaited Federal Reserve's rate decision. Market participants are split on whether the US central bank will raise interest rates or defer such a move until later in the year or 2016. The loonie finished at 75.49 US cents from Monday's 75.43 US cents. The risk from Fed's policy decision is just too important “to not pay attention to,” said Brad Schruder, Director of Foreign Exchange at BMO Capital Markets. Meanwhile, US crude ended at $44.59 a barrel, buoyed by higher gasoline prices and advances on Wall Street.

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[IFX Gertrude]

Japan Has Y569.659 Billion Deficit In August



Japan had a merchandise trade deficit of 569.659 billion yen in August, the Ministry of Finance said on Thursday. That missed forecasts for a shortfall of 542.5 billion yen following the 268.4 billion yen deficit in July. Exports gained 3.1 percent on year, shy of forecasts for an increase of 4.4 percent and down from the 7.6 percent jump in the previous month. Imports dipped an annual 3.1 percent versus expectations for a fall of 2.5 percent following the 3.2 percent contraction a month earlier.

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[IFX Gertrude]

British pound bolsters as UK wages hit fastest pace in 6 years



The British pound escalated Wednesday as official figures showed British wages picked up speed in more than six years. According to the Official for National Statistics, the average pay throughout the United Kingdom rose by 2.9%, the fastest pace since 2009. Sterling finished at 72.93 pence per euro. Against the US dollar, the pound stood at $1.5445. With inflation still stuck around zero and oil prices slumping, traders have scaled back into next year their expectations on the Bank of England's timing of interest rate hikes. BOE Governor Mark Carney banged his recent remarks China-ignited market turmoil should not change the central bank's supposition.

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[IFX Gertrude]

BoJ Minutes: Modest Economic Recovery Remains On Track



The members of the Bank of Japan's monetary policy board felt that the country's economic recovery continued, minutes from the central bank's meeting on August 6 and 7 revealed on Friday. Private consumption was resilient and housing investment was also making progress, the board noted, while inflation expectations appear to be rising. "Quantitative and qualitative monetary easing has been exerting its intended effects, and the bank will continue with QQE, aiming to achieve the price stability target of 2 percent, as long as it is necessary for maintaining that target in a stable manner. It will examine both upside and downside risks to economic activity and prices, and make adjustments as appropriate," the minutes said. At the meeting, the BoJ decided to keep its monetary policy unchanged and also maintained its inflation and economic growth outlook. It also held its benchmark lending rate steady at 0 to 0.10 percent. By an 8-1 vote, the policy board decided to maintain its target of raising the monetary base at an annual pace of about JPY 80 trillion. Downside risks include commodity exporters and emerging markets, the bank said, as well as the pace of the economic recovery in the United States. "Risks to the outlook include developments in the emerging and commodity-exporting economies, the prospects regarding the debt problem and the momentum of economic activity and prices in Europe, and the pace of recovery in the U.S. economy," the minutes said. Inflation is likely to be about zero percent for the time being, due to the effects of the decline in energy prices. Core inflation was at meager 0.1 percent in June. Renewed fall in oil prices could weigh on inflation. Nonetheless, the bank aims to achieve its 2 percent inflation target by September next year. "With regard to the outlook, Japan's economy is expected to continue recovering moderately. The year-on-year rate of increase in the CPI is likely to be about 0 percent for the time being, due to the effects of the decline in energy prices," the minutes said.

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[IFX Gertrude]

BoJ Minutes: Modest Economic Recovery Remains On Track



The members of the Bank of Japan's monetary policy board felt that the country's economic recovery continued, minutes from the central bank's meeting on August 6 and 7 revealed on Friday. Private consumption was resilient and housing investment was also making progress, the board noted, while inflation expectations appear to be rising. "Quantitative and qualitative monetary easing has been exerting its intended effects, and the bank will continue with QQE, aiming to achieve the price stability target of 2 percent, as long as it is necessary for maintaining that target in a stable manner. It will examine both upside and downside risks to economic activity and prices, and make adjustments as appropriate," the minutes said. At the meeting, the BoJ decided to keep its monetary policy unchanged and also maintained its inflation and economic growth outlook. It also held its benchmark lending rate steady at 0 to 0.10 percent. By an 8-1 vote, the policy board decided to maintain its target of raising the monetary base at an annual pace of about JPY 80 trillion. Downside risks include commodity exporters and emerging markets, the bank said, as well as the pace of the economic recovery in the United States. "Risks to the outlook include developments in the emerging and commodity-exporting economies, the prospects regarding the debt problem and the momentum of economic activity and prices in Europe, and the pace of recovery in the U.S. economy," the minutes said. Inflation is likely to be about zero percent for the time being, due to the effects of the decline in energy prices. Core inflation was at meager 0.1 percent in June. Renewed fall in oil prices could weigh on inflation. Nonetheless, the bank aims to achieve its 2 percent inflation target by September next year. "With regard to the outlook, Japan's economy is expected to continue recovering moderately. The year-on-year rate of increase in the CPI is likely to be about 0 percent for the time being, due to the effects of the decline in energy prices," the minutes said.

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[IFX Gertrude]

China Home Prices Rise In August



Home prices in majority of the Chinese cities increased in August, figures from the National Bureau of Statistics showed Friday. On a monthly basis, home prices climbed 35 out of 70 cities surveyed by the government. Prices declined in 26 cities but remained flat in 9 months. The biggest hike in prices was noted in Shenzhen, by 5.1 percent and the steepest decreases were seen in Dandong, Jining and Xiangyang, by 0.5 percent. Compared with the same month of the previous year, home prices fell 61 out of the 70 cities during August.

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[IFX Gertrude]

Taiwan Jobless Rate Remains Stable In August



Taiwan's unemployment rate held steady in August, defying economists' expectations for an increase, figures from the Directorate General of Budget and Statistics, or DGBAS, showed Tuesday. The seasonally adjusted jobless rate came in at 3.74 percent in August, the same rate as in the previous month. Economists had expected the jobless rate to rise to 3.77 percent. In the corresponding month of the previous year, the unemployment rate was 3.93 percent. The number of unemployed people remained unchanged at 435,000 during August. A year ago, the jobless figure totaled 453,000. At the same time, the number of persons in employment increased to 11.21 million in August from 11.20 million a month ago. The labor force participation rate rose marginally to 58.65 percent in August from 58.64 percent in July. On an unadjusted basis, the unemployment rate climbed to 3.90 percent in August from 3.82 percent in the previous

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[IFX Gertrude]

Canadian Dollar Drops Against Most Majors



The Canadian dollar weakened against most major currencies in the Asian session on Wednesday. The Canadian dollar fell to more than a 2-week low of 90.04 against the yen, from yesterday's closing value of 90.51. Against the U.S. dollar and the euro, the loonie dropped to 1.3294 and 1.4797 from yesterday's closing quotes of 1.3271 and 1.4751, respectively. If the loonie extends its downtrend, it is likely to find support around 87.00 against the yen, 1.33 against the greenback and 1.54 against the euro.

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[IFX Gertrude]

Canadian Dollar Drops Against Most Majors



The Canadian dollar weakened against most major currencies in the Asian session on Wednesday. The Canadian dollar fell to more than a 2-week low of 90.04 against the yen, from yesterday's closing value of 90.51. Against the U.S. dollar and the euro, the loonie dropped to 1.3294 and 1.4797 from yesterday's closing quotes of 1.3271 and 1.4751, respectively. If the loonie extends its downtrend, it is likely to find support around 87.00 against the yen, 1.33 against the greenback and 1.54 against the euro.

News are provided byInstaForex.

[IFX Gertrude]

Canadian Dollar Drops Against Most Majors



The Canadian dollar weakened against most major currencies in the Asian session on Wednesday. The Canadian dollar fell to more than a 2-week low of 90.04 against the yen, from yesterday's closing value of 90.51. Against the U.S. dollar and the euro, the loonie dropped to 1.3294 and 1.4797 from yesterday's closing quotes of 1.3271 and 1.4751, respectively. If the loonie extends its downtrend, it is likely to find support around 87.00 against the yen, 1.33 against the greenback and 1.54 against the euro.

News are provided byInstaForex.