Forex News from InstaForex

[IFX Gertrude]

SOUTH KOREA CONSUMER CONFIDENCE WEAKENS TO 4-MONTH LOW



South Korea's consumer sentiment weakened in September to the lowest level in four months, as households' current and future living conditions worsened, survey results from the Bank of Korea showed on Tuesday.

The consumer confidence index fell to 99.7 in September from 103.1 in August.

This was the lowest reading since May 2022, when it was 98.0.

The consumer confidence survey was conducted between September 11 and 18, among 2,500 households.

The sub-index for households' assessment of the prospective living standards dropped to 92 from 95, and the measure for the current living standards dropped to 89 from 91.

Similarly, the index measuring consumers' prospective household income decreased to 99 to 100 in July.

South Koreans were less pessimistic about their job prospects and the relevant index dropped to 74.0 from 84.

Their interest rate expectations remained stable in September, and the measure came in at 99.0.

The expected inflation rate for the upcoming year was 4.1 percent versus 4.2 percent in August.

Households' expectations for the domestic economic conditions in the future weakened from 72 to 66.0.

News are provided by
InstaForex.

Read More https://ifxpr.com/4598NnI

[IFX Gertrude]

EUROPEAN ECONOMIC NEWS PREVIEW: GERMAN GFK CONSUMER SENTIMENT DATA DUE



Consumer confidence from Germany and France are the top economic data due on Wednesday, headlining a light day for the European economic news.

At 2.00 am ET, the market research group GfK is scheduled to issue Germany's consumer sentiment survey results. Economists forecast the forward-looking consumer confidence index to remain unchanged at -25.5 in October.

In the meantime, unemployment from Norway and foreign trade data from Sweden are due. At 2.45 am ET, France's statistical office INSEE publishes consumer confidence survey data. Economists forecast the consumer sentiment index to fall to 84 in September from 85 in the previous month.

At 3.00 am ET, the National Institute of Economic Research releases Sweden's economic tendency survey results for September.

At 4.00 am ET, the European Central Bank is set to release euro area monetary aggregates for August. M3 money supply is forecast to fall 1.0 percent annually after a 0.4 percent drop in July.

Also, manufacturing Purchasing Managers' survey results are due from Austria.

News are provided by
InstaForex.

Read More https://ifxpr.com/466IeRA

[IFX Gertrude]

EUROPEAN ECONOMIC NEWS PREVIEW: GERMANY FLASH INFLATION DATA DUE



Flash inflation from Germany and economic sentiment survey results from the euro area are the top economic news due on Thursday.

At 2.00 am ET, Statistics Norway publishes retail sales and household consumption data.

At 3.00 am ET, Spain's statistical office INE is slated to release flash consumer prices and retail sales data. Economists forecast inflation to rise to 3.5 percent in September from 2.6 percent in August.

At 4.00 am ET, the European Central Bank publishes monthly bulletin. In the meantime, business and consumer sentiment survey results and producer prices are due from Italy.

At 5.00 am ET, the European Commission is set to issue economic sentiment survey results. The economic confidence index is expected to drop to 92.5 in September from 93.3 in August.

At 8.00 am ET, flash inflation figures are due from Germany. Consumer price inflation is forecast to ease sharply to 4.6 percent in September from 6.1 percent in August.

News are provided by
InstaForex.

Read More https://ifxpr.com/3rtS3Ke

[IFX Gertrude]

JAPAN INDUSTRIAL PRODUCTION UNCHANGED IN AUGUST



Industrial output in Japan came in flat in August, the Ministry of Economy, Trade and Industry said on Friday.

That beat expectations for a decline of 0.8 percent following the 1.8 percent drop in July.

On a yearly basis, industrial production fell 3.8 percent after slipping 2.3 percent in the previous month.

Upon the release of the data, the METI announced its assessment of production to fluctuating indecisively.

Industries that saw increased production included petroleum and coal products, communications electronics equipment and fabricated metals. These were offset by declines among motor vehicles, iron and steel and transport equipment.

News are provided by
InstaForex.

Read More https://ifxpr.com/3t8CxE5

[IFX Gertrude]

PHILIPPINES MANUFACTURING SECTOR CLIMBS INTO EXPANSION TERRITORY - S&P GLOBAL



The manufacturing sector in the Philippines moved to expansion in September, the latest survey from S&P Global revealed on Monday with a manufacturing PMI score of 50.6.

That's up from 49.7 in August, and it moves above the boom-or-bust line of 50 that separates expansion from contraction.

After having fallen for the first time in a year in August, improved demand conditions and new client wins supported a fresh, albeit modest rise in new orders during September. However, latest data also revealed a fall in new business from abroad, thereby marking the first month of contraction in the year-to-date. Moreover, the rate of decrease was solid overall and faster than the historical average.

Subsequently, the data suggested that the latest uptick in factory orders was fueled by domestic demand. Nonetheless, the overall rise in total new business translated into a further expansion in production. Moreover, the rate of growth quickened from August's 12-month low.

News are provided by
InstaForex.

Read More https://ifxpr.com/3tfaVNH

[IFX Gertrude]

PHILIPPINES MANUFACTURING SECTOR CLIMBS INTO EXPANSION TERRITORY - S&P GLOBAL



The manufacturing sector in the Philippines moved to expansion in September, the latest survey from S&P Global revealed on Monday with a manufacturing PMI score of 50.6.

That's up from 49.7 in August, and it moves above the boom-or-bust line of 50 that separates expansion from contraction.

After having fallen for the first time in a year in August, improved demand conditions and new client wins supported a fresh, albeit modest rise in new orders during September. However, latest data also revealed a fall in new business from abroad, thereby marking the first month of contraction in the year-to-date. Moreover, the rate of decrease was solid overall and faster than the historical average.

Subsequently, the data suggested that the latest uptick in factory orders was fueled by domestic demand. Nonetheless, the overall rise in total new business translated into a further expansion in production. Moreover, the rate of growth quickened from August's 12-month low.

News are provided by
InstaForex.

Read More https://ifxpr.com/3tfaVNH

[IFX Gertrude]

AUSTRALIA CENTRAL BANK KEEPS RATE UNCHANGED



Australia's central bank kept its key interest rate unchanged for the fourth straight session on Tuesday.

The policy board decided to maintain the cash rate target at 4.10 percent. The decision matched economists' expectations.

The central bank has raised its key rates by 4 percentage points since May last year. "The higher interest rates are working to establish a more sustainable balance between supply and demand in the economy and will continue to do so," Governor Michele Bullock said.

"Some further tightening of monetary policy may be required to ensure that inflation returns to target in a reasonable timeframe, but that will continue to depend upon the data and the evolving assessment of risk," she added.

News are provided by
InstaForex.

Read More https://ifxpr.com/48wkCHL

[IFX Gertrude]

NEW ZEALAND CENTRAL BANK KEEPS KEY RATE UNCHANGED



New Zealand's central bank decided to hold its benchmark rate unchanged, as widely expected, on Wednesday.

The Monetary Policy Committee of the Reserve Bank of New Zealand maintained the Official Cash Rate at 5.50 percent. The committee decided to keep the interest rate at a restrictive level to ensure that inflation returns to the 1 to 3 percent target range and to support maximum sustainable employment.

Policymakers observed that there is a near-term risk of activity and inflation not slowing as much as needed. Further, a greater slowdown in global economic demand, particularly in China could damp commodity prices and in turn export revenue.

News are provided by
InstaForex.

Read More https://ifxpr.com/46zw03F

[IFX Gertrude]

EUROPEAN ECONOMIC NEWS PREVIEW: GERMANY FOREIGN TRADE DATA DUE



Foreign trade and construction Purchasing Managers' survey results from Germany are the top economic news due on Thursday.

At 2.00 am ET, Destatis is scheduled to issue Germany's external trade data for August. Exports are forecast to fall 0.4 percent on month, while imports are expected to climb 0.5 percent.

At 2.45 am ET, France's statistical office INSEE is scheduled to release industrial production for August. Economists expect industrial output to drop 0.4 percent on a monthly basis, in contrast to the 0.8 percent increase in July.

At 3.00 am ET, Spain's INE publishes industrial output for August. Output is seen falling 2.1 percent annually after a 1.8 percent drop in July.

At 3.30 am ET, Germany's construction Purchasing Managers' survey results are due.

At 4.30 am ET, S&P Global releases UK construction PMI data for September. The index is seen at 49.9, down from 50.8 in August.

News are provided by
InstaForex.

Read More https://ifxpr.com/46hgbPg

[IFX Gertrude]

JAPAN LEADING INDEX RISES TO 109.5, HIGHEST IN 9 MONTHS



Japan's leading index improved in August to the highest level in nine months, preliminary data from the Cabinet Office showed on Friday.

The leading index, which measures future economic activity, rose to 109.5 in August from 108.2 in July.

Further, this was the highest reading since November last year, when it was 109.6.

The coincident index that measures the current economic situation increased somewhat to a 114.3 in August from 114.2 in the previous month.

Data showed that the lagging index climbed to 106.0 from 105.7 in the previous month.

News are provided by
InstaForex.

Read More https://ifxpr.com/3F7tHJE