Forex News from InstaForex

[IFX Gertrude]

Taiwan Manufacturing Sector Turns To Contraction - Nikkei



The manufacturing sector in Taiwan swung to contraction in February, the latest revision from Nikkei showed on Tuesday with a PMI score of 49.4. That was down from 50.6 in January, and it slips beneath the boom-or-bust line of 50 that separates expansion from contraction. Among the individual components of the survey, output and new orders both contracted for the first time in three months. Outstanding work declined at its fastest rate since August, while deflationary pressures eased but remain marked.

News are provided byInstaForex.

[IFX Gertrude]

China Services Sector Slows In February - Caixin



The services sector in China continued to expand in February, albeit at a slower pace, the latest survey from Caixin showed on Thursday with a PMI score of 51.2. That's down from 52.4 in January, although it remains above the boom-or-bust line of 50 that separates expansion from contraction. Among the individual components, new business growth slowed, while new orders continued to decline and new business was roughly unchanged. The composite index came in with a score of 49.4, down from 50.1 in the previous month.

News are provided byInstaForex.

[IFX Gertrude]

Citigroup hires two execs from Goldman for senior roles



Citigroup Inc has hired Quentin Andre as head of global structured sales and Dirk Keijer as head of equity derivative sales for Europe, the Middle-East and Africa (EMEA), both joined from Goldman Sachs, the company said. Andre spent five years at Goldman serving as managing director and head of EMEA equity and fund derivatives structuring & marketing, as well as head of cross-asset systematic strategies Keijer was managing director, head of equity derivatives sales for Europe at Goldman.

News are provided byInstaForex.

[IFX Gertrude]

Australia Retail Sales Add 0.3% In January



The total value of retail sales in Australia was up a seasonally adjusted 0.3 percent on month in January, the Australian Bureau of Statistics said on Friday - coming in at A$24.834 billion. That was shy of forecasts for an increase of 0.4 percent following the flat reading in December. There were rises in other retailing (1.4 percent), household goods retailing (1.0 percent), cafes, restaurants and takeaway food services (1.0 percent) and clothing, footwear and personal accessory retailing (0.1 percent). Food retailing (-0.2 percent) and department stores (-1.3 percent) both fell in January. There were rises in New South Wales (0.5 percent), Queensland (0.3 percent), South Australia (0.4 percent), Western Australia (0.2 percent), Tasmania (1.0 percent), the Australian Capital Territory (0.7 percent) and the Northern Territory (1.3 percent). Victoria (0.0 percent) was relatively unchanged in January 2016. Online retail turnover contributed 2.9 percent to total retail turnover.

News are provided byInstaForex.

[IFX Gertrude]

Tech giants unite to support Apple in encryption fight with US



Technology industry leaders, including Alphabet Inc.'s Google, AT&T, Facebook Inc., and Microsoft Corporation submitted legal briefs urging a federal judge to support Apple Inc. which has been engaged in an encryption dispute with the US government. The entire Silicon Valley is opposing an order asking Apple to design a new software and implement other measures to enable access to an iPhone used by a San Bernardino shooter, saying it would compromise privacy and security. Apple argued such an order would lead to a risky precedent and jeopardize user security. Its industry allies filed amicus briefs to US District Judge Sheri Pym in Riverside, California to make their case. On the other hand, relatives of California shooting victims gave their own brief opposing the iPhone maker.

News are provided byInstaForex.

[IFX Gertrude]

Usd/sgd Trading in Range



USD/SGD last 1.3780-85, traded 1.3744-82 range so far
Pair may trade in range amid 1.3750-1.3850 intraday

News are provided byInstaForex.

[IFX Gertrude]

Investors anxious on bets ECB to push rate into negative territory



Investors are worried the European Central Bank will push the interest rate further into negative territory when they convene Thursday. The central bank's action will likely pull down government bond yields, further slashing borrowing costs which are already near record lows in several countries. But many traders cautioned trading may be volatile and markets could be roiled in case the ECB implements less stimulus than projected. Analysts and portfolio managers were still skeptical regarding the effectiveness of negatives rates in bolstering economic growth and inflation, expressing concerns about unintended consequences.

News are provided byInstaForex.

[IFX Gertrude]

Japan Q4 GDP Revised Up To -1.1% On Year



Japan's gross domestic product was down an annualized 1.1 percent on year in the fourth quarter of 2015, the Cabinet Office said in Tuesday's revised reading. That beat forecasts for a decline of 1.6 percent following last month's preliminary reading that suggested a contraction of 1.4 percent. GDP expanded 1.3 percent in the third quarter. On a quarterly basis, GDP dipped 0.3 percent - which also marked an upward revision from 0.4 percent. GDP added 0.3 percent in the three months prior. Nominal GDP was bumped up to -0.2 percent on quarter from -0.3 percent in the preliminary reading - although it was still down from the 0.6 percent gain in the third quarter. The GDP deflator was unrevised and in line with expectations, up 1.5 percent on year and down from 1.8 percent in the third quarter. Private consumption was revised down to -0.9 percent on quarter from -0.8 percent in the preliminary after gaining 0.4 percent in the previous three months. Capital expenditure was revised up to 1.5 percent from 1.4 percent in the preliminary reading. It also accelerated from the 0.7 percent increase in the three months prior. Also on Tuesday: . The Bank of Japan said that the total value of overall bank lending in Japan was up 2.2 percent on year in February, coming in at 496.957 trillion yen. That follows the upwardly revised 2.4 percent increase in January (originally 2.3 percent). Excluding trusts, bank lending was up an annual 2.2 percent to 432.182 trillion yen after rising a downwardly revised 2.3 percent in the previous month (originally 2.4 percent). Lending from trusts added 2.3 percent to 64.774 trillion yen, while lending from foreign banks tumbled 4.2 percent to 1.811 trillion yen. . The Ministry of Finance noted that Japan had a current account surplus of 520.8 billion yen in January - shy of forecasts for a surplus of 700 billion yen following the 960.7 billion yen surplus in December. The trade balance showed a deficit of 411.0 billion yen - beating forecasts for a shortfall of 530 billion yen following the 188.7 billion yen deficit in the previous month. Exports were down 15.4 percent on year to 5.355 trillion yen, while imports skidded 19.8 percent to 5.766 trillion yen.

News are provided byInstaForex.

[IFX Gertrude]

Canada says Toyota recalls 400,124 vehicles due to airbag issue



The government of Canada on Mondau said the Toyota Motor Corp was recalling 400,124 vehicles due to an issue with frontal airbags. The Japanese carmaker on Wednesday said it was expanding its worldwide recall involving potentially defective air bags by Takata Corp.

News are provided byInstaForex.

[IFX Gertrude]

Corn falls for First Time in 6 Sessions ahead of Usda Report



The most active corn futures fell 0.42 percent to $3.59 a bushel, having gained 0.42 percent in the previous session. U.S. Department of Agriculture to report latest supply and demand report on Wednesday. Traders and analysts expect the USDA to further increase its estimates for global corn and soybean inventories from February

News are provided byInstaForex.