Forex News from InstaForex

[IFX Gertrude]

UK Consumer Confidence Index Rises To -5





An index measuring consumer confidence in the United Kingdom came in at -5 in March, the latest survey from GfK revealed on Friday.
That beat expectations for -6 and is up from -7 in February. It also marks the highest score since August 2007.
The index is also 22 points higher than it was a year earlier.
"People are now on balance more positive than negative about their own financial prospects over the next year," said Nick Moon, managing director for GfK's social research division. "It is unlikely that anything announced in the recent budget will reverse this."


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[IFX Gertrude]

Japan Auto Production Continues To Expand





Japan's automobile production increased for the sixth consecutive month in February, data from the Japan Automobile Manufacturers' Association showed Monday.
Driven by huge domestic demand, auto production rose 7.1 percent or 57,186 units from a year ago to 863,397 units in February. Domestic sales surged 18.4 percent on a yearly basis, while exports declined 6 percent. At the same time, motorcycle production gained 9.6 percent annually to 56,348 units. This was the sixth consecutive rise in output. Domestic sales of motorcycle advanced 26.3 percent and exports climbed 21.1 percent.


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[IFX Gertrude]

Australia Leaves Key Rate Unchanged At 2.5%





The Reserve Bank of Australia left its key interest rate unchanged on Tuesday as widely expected by economists. Policymakers led by Governor Glenn Stevens decided to maintain the cash rate at 2.50 percent. Members assessed the most prudent course is likely to be a period of stability in interest rates, the central bank said in a statement. The bank expects inflation to be consistent with the 2-3 percent target over the next two years. In the Board's judgement, monetary policy is appropriately configured to foster sustainable growth in demand and inflation outcomes consistent with the target. Looking ahead, the bank said continued accommodative monetary policy should provide support to demand, and help growth to strengthen over time.


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[IFX Gertrude]

BoJ Tankan: Inflation Forecast 1.1% For Next Year





The expectation for inflation over the next year in Japan is 1.1 percent, the Bank of Japan said on Wednesday in the second half of its quarterly Tankan survey of consumer sentiment.
According to the all enterprise component, the inflation rate is expected to rise to 1.8 percent over the next three years, and then to 2.1 percent in five years.
However, among large manufacturers, inflation is expected to add just 0.2 percent over the next year, be flat in three years and then fall 0.3 percent in five years.
Among large non-manufacturers, inflation is called at 0.9 percent in the next year, 1.3 percent in three years and 1.5 percent in five years.
The first portion of the Tankan was released on Tuesday.


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[IFX Gertrude]

Swiss Franc Slides Against Most Majors





The Swiss franc weakened against most major currencies in the Asian session on Thursday. The Swiss franc fell to an 8-day low of 1.2210 against the euro and a 4-day low of 1.4777 against the pound, from yesterday's closing quotes of 1.2204 and 1.4733, respectively. Against the U.S dollar, the franc touched 0.8873, heading to pierce yesterday's multi-day low of 0.8874. If the Swiss franc continues its downtrend, it is likely to find support around the 1.23 against the euro, 1.48 against the pound and 0.89 against the greenback.


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[IFX Gertrude]

Malaysia's Export Growth Tops Expectations





Malaysia's exports grew more than expected in February, while imports rose less than estimated, data showed Friday.
Exports registered a double-digit growth of 12.3 percent in February from the prior year, the Department of Statistics reported. Shipments were expected to rise 11.9 percent.
Exports of manufactured goods accounted for 66.4 percent of total exports. The increase in demand was contributed mainly by higher exports of electrical and electronic products.
Meanwhile, imports rose 9.5 percent from last year, slower than the expected 14.4 percent increase.
The trade surplus surged 27.2 percent to MYR 10.44 billion in February, which was bigger than a MYR 8.45 billion expected surplus.


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[IFX Gertrude]

Contraction Slows For Australia Construction Sector





An index monitoring activity in Australia's construction sector saw a seasonally adjusted score of 46.2 in March, the Australian Industry Group and Housing Industry Association said on Monday in their Performance of Construction Index - up from 44.2 in February. Construction activity contracted for the third straight month, the survey showed, as a score below 50 signals decline and a score above 50 means expansion.
"As is the case with the broader economy, the rebalancing of the construction sector as mining-related activity slows still has a considerable way to go," said AiG Director of Public Policy Peter Burn in a release accompanying the data.
Among the individual components of the survey, the new orders sub-index saw its contraction slow dramatically, jumping from 39.5 in February to 48.3 in March.
The employment sub-index continued to weaken, falling from 46.0 in February to 42.7. The sub-index for construction climbed from 45.3 in February to 48.3 in March. House building dipped from 52.2 in the previous month to 50.8, while apartment building fell from 46.6 to 45.6.
Commercial construction tumbled from 59.9 to 56.5 points, and engineering construction surged from 39.7 to 45.5.
"What the sector and broader economy needs, however, is a sustained recovery in new home building commensurate with average construction levels being considerably higher over coming decades than those achieved over the past 20 years," said HIA chief economist Harley Dale.


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[IFX Gertrude]

Yen Ticks Down After Bank Of Japan Monetary Policy Decision





As expected, the Bank of Japan maintained its monetary easing program unchanged in the Asian session on Tuesday. Following the announcement, the yen inched down against other major currencies. The yen was trading at 102.93 against the greenback, 141.46 against the euro, 115.94 against the franc and 171.01 against the pound around 11:01 pm ET.


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[IFX Gertrude]

NZ Dollar Strengthens Against Most Majors




The New Zealand dollar drifted higher against most major rivals in early Asian deals on Wednesday.
The kiwi spiked up to 1.5835 against the euro, a level not seen since March 28. Against the greenback, the kiwi approached 0.8707 for the first time since August 2011.
The kiwi rose to 88.72 against the yen from Tuesday's closing quote of 88.25.
If the kiwi extends gain, it may face resistance around 0.875 against the greenback, 1.56 against the euro and 89.8 against the yen.


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[IFX Gertrude]

China Has $7.71 Billion Trade Surplus In March




China posted a merchandise trade surplus of $7.71 billion in March, the customs office said on Thursday.
That topped forecasts for a surplus of $0.9 billion following the $23.0 billion shortfall - largely due to the Lunar New Year holiday - in the previous month.
Exports were down 6.6 percent on year, missing expectations for an increase of 4.0 percent following the 18.1 percent contraction in February. Imports tumbled an annual 11.3 percent versus forecasts for a gain of 2.4 percent following the 10.1 percent increase a month earlier.

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