Forex News from InstaForex

[IFX Gertrude]

Philippine Export Growth Accelerates In October



Philippine export growth quickened in October, data released by the National Statistics Office revealed Monday.
Exports grew 14 percent year-on-year in October following a 5.1 percent gain in September. Economists had forecast an 8.3 percent increase.
However, shipments fell 0.6 percent month-on-month. This followed a solid 10.4 percent growth in September.
Exports of electronic products, accounting for 42.9 percent of the total exports revenue in October, grew 13.4 percent from a year earlier. On a monthly basis, electronic shipments rose 0.4 percent.

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[IFX Gertrude]

Canadian Dollar Hits 2-day High Against Euro




The Canadian dollar climbed against the European currency in early Asian deals on Wednesday.
The loonie hit a 2-day high of 1.4583 against the euro, after having reached lowest level of 1.4646 in near 5 years on Tuesday. The next possible upside target for the loonie lies around the 1.44 zone.


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[IFX Gertrude]

Australia Inflationary Expectations Rise Slightly




Inflation expectations among Australian consumers increased slightly in December, a monthly survey by the Melbourne Institute revealed Thursday.
The expected inflation rate rose to 2.1 percent in December from 1.9 percent in November. It is now just above the lower bound of the Reserve Bank of Australia's (RBA) target band of 2-3 percent.
The survey also included quarterly information on past and future pay growth. Actual pay growth over the 12 months to December rose to 3.3 percent from 2.1 percent in the 12 months to September.
Expected pay growth in the coming 12 months rose to 3.2 percent from 2.7 percent in September.


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[IFX Gertrude]

Malaysian Ringgit Drops To 2-week Low Against US Dollar



The Malaysian ringgit extended its 2-day losing streak against its US counterpart in early Asian trading on Friday, falling to a 2-week low of 3.2392, down from 3.2305 hit late New York Thursday.
The near-term support for the ringgit is seen around the 3.24 area, a level last seen in early October.

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[IFX Gertrude]

Yen Strengthens Against Majors



The Japanese yen climbed against other major currencies in Asia on Monday.
The yen reached a 10-day high of 167.34 against the pound, 5-day high of 141.21 against the euro, 4-day highs of 102.64 against the greenback and 115.53 against the franc.
The yen is likely to face upside target around 101.6 against the greenback, 114.00 against the franc, 166.00 against the pound and 140.00 against the euro.



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[IFX Gertrude]

Yen Climbs Against U.S. Dollar



The Japanese yen advanced against the U.S. dollar in Asian trading on Tuesday.
The yen rose to 102.91 against the greenback, up from an early low of 103.10. The next possible resistance for the yen is seen around the 102.00 zone.



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[IFX Gertrude]

Malaysian Ringgit Declines To 2-1/2-month Low Against U.S. Dollar



The Malaysian Ringgit fell sharply against the U.S. dollar in Asia on Wednesday as traders await the Federal Reserve's decision on monetary policy due later in the day.

The ringgit hit 3.2560 against the greenback for the first time since October 4. If the ringgit slides further, it may face support at the 3.28 zone. The pair finished trading at 3.2485 yesterday.


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[IFX Gertrude]

Pound Hits 2-week High Against Euro



The pound gained ground against the euro in Asian deals on Thursday.
The pound reached 0.8339 against the euro, its highest since December 5. The pound is poised to seek resistance around the 0.827 mark. The pair was worth 0.8355 at yesterday's close.


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[IFX Gertrude]

New Zealand's Credit Card Spending Rises In November



New Zealand's credit card spending increased sharply in November, the latest data released by the Reserve Bank of New Zealand showed Friday.
Card spending rose 3.5 percent month-on-month in November following a 0.5 percent fall in the preceding month. Year-on-year, spending grew 6.9 percent.
Domestic billings on New Zealand issued cards rose 3.9 percent on a monthly basis and overseas billings on domestically issued cards increased 4.1 percent.


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[IFX Gertrude]

NZ Dollar Declines Against Australian Dollar



The New Zealand dollar slipped against the Australian dollar in Asian deals on Monday.
The kiwi fell to 1.0897 against the aussie, compared to last week's closing quote of 1.0859. Further downtrend may lead the kiwi to seek support at the 1.097 area.


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