Forex News from InstaForex

[IFX Gertrude]

Australia Unemployment Rate Stable In May



The unemployment rate Australia remained stable for the third consecutive month in May, a report from the Australian Bureau Of Statistics showed Thursday.

The unemployment rate came in at 5.8 percent in May, the same rate as in April and March. Compared to a year ago, the unemployment rate rose 0.3 percentage points in May.

The number of unemployed people rose by 3,200 over the month to 717,100 in May. Out of the total, the number of unemployed looking for full-time work rose 9,000 to 529,700 and for part-time it decreased 5,900 to 187,400.

The number of employed people fell 4,800 over the month to 11,564,600. The number of full-time employees rose 22,200 while number of part-time employees fell 27,000 in May.

However, the participation rate fell to 64.6 in May from 64.7 in April.

News are provided by InstaForex.

[IFX Gertrude]

Yuan Strengthens To 2-month High Against U.S. Dollar



The Yuan strengthened against the U.S. dollar in the Asian session on Friday. Against the greenback, the yuan rose to a 2-month high of 6.2066. At yesterday's close, the yuan was trading at 6.2180. If the yuan extends its gain, it is likely to find resistance around the 6.19 area. The People Bank of China set today's central parity rate for yuan at 6.1503 per dollar, compared to Thursday's reference rate of 6.1516. The central bank sets the reference rate every morning and allows the currency to move upto 2 percent from that level. Traders focus on China's industrial production, retail sales and fixed asset investment data for May due shortly.

News are provided by InstaForex.

[IFX Gertrude]

New Zealand Growth To Accelerate In FY 2015 - NZ Institute For Economic Research



The consensus forecast for New Zealand is optimistic for 2015, data from the New Zealand Institute of Economic Research showed Monday. According to consensus forecasts, economic growth is expected to accelerate to 3.8 percent in the year ending March 2015 from 3.1 percent in the previous year. Broad based growth across household spending, investment and exports is forecast. Economic growth is likely to moderate to 2.8 percent and 2.1 percent in 2016 and 2017, respectively. Residential construction surge is estimated to continue for the upcoming five years and exports are expected to rebound after remaining almost flat in the past year. An improvement in the labour market is forecast, with the unemployment rate likely to fall to an average of 5 percent from the historically high levels of 5.9 percent. Wages are expected to increase, growing 3.1 percent on an average over the upcoming 3 years, and supporting household spending. Consumer price inflation is expected to flatten over the next two years.

News are provided by InstaForex.

[IFX Gertrude]

Yen Declines Against Majors



The Japanese yen lost ground against its key counterparts in Asian deals on Tuesday. The yen fell to 4-day lows of 138.45 against the euro, 113.64 against the franc and 94.02 against the loonie. The yen dropped to 173.13 against the pound and 102.06 against the greenback, compared to yesterday's closing values of 172.88 and 101.82, respectively. If the yen declines further, it may find support around 102.5 against the greenback, 114.00 against the franc, 174.00 against the pound, 139.5 against the euro and 94.7 against the loonie.

News are provided by InstaForex.

[IFX Gertrude]

Japan Manufacturing PMI Rises To 51.1 In May - Markit



An index monitoring the manufacturing sector in Japan came in with a score of 51.1 in May, the latest survey from Markit Economics revealed on Monday - up from 49.9 in April.

That pushes the index into expansionary territory, as a score above 50 signals growth in a sector while a reading below means contraction.

Among the individual components of the survey, the output index rose for the first time in three months to 51.8 - signaling expansion.

New orders also moved into growth, while input prices, stocks of purchases, stocks of finished goods and quantity of purchases continued to expand.

New export orders, employment, backlogs of work and output prices slowed, and supplier delivery times were unchanged.

News are provided by InstaForex.

[IFX Gertrude]

China Leading Index Slows To 0.7% In May - Conference Board



A leading economic index for China continued to expand in May, albeit at a slower pace, the latest survey from the Conference Board revealed on Tuesday.

The group's leading economic index was up 0.7 percent last month to a score of 290.2. That follows 1.0 percent increases in both April and March.

The coincident index was also up 0.7 percent in May, the data showed, with a score of 259.7. That was unchanged from the previous month and down from 1.5 percent in March.

"While the Leading Economic Index for China increased in May, its rate of increase has slowed considerably in recent months. The LEI, and its underlying components, suggest continued weaknesses in China's real economy in the coming months," said Jing Sima, Economist at The Conference Board.

"April's sharp improvement in the real estate sector was short-lived and consumers remain in a pessimistic mood. Moreover, the Coincident Economic Index indicates the rate of current economic activity is substantially lower than last year."

News are provided by InstaForex.

[IFX Gertrude]

Philippines Trade Deficit $743 Million In April



The Philippines saw a merchandise trade deficit of $743 million in April, the National Statistics Office said on Wednesday - following the $146 million shortfall in March.

Imports added an annual 3.0 percent in April to $5.309 billion - down from $5.42 billion in the previous month.

Through the first four months of the year, imports climbed 9.9 percent on year to $19.590 billion.

Export data, which was released two weeks ago, showed an increase of 0.8 percent to $4.506 billion.

News are provided by InstaForex.

[IFX Gertrude]

Usd/sgd and Usd/myr Dip Overnight



South Asia pairs set to open lower on Thursday as risk/carry rallies in NY

USD/SGD back below 1.25 in a modest affair after topside rejected in Asia

USD/MYR set to open ard 2.2200 after NDFs trade 6.2235-90 o/n

USD/IDR bucks trend - to open ard 12100 after NDFs trade 12150-12155 overnight

Thai trade data (0400GMT) and Spore mfg output (0500GMT) out today

Month end flows less influence on S Asia pairs than seen on N Asia pairs

News are provided by InstaForex.

[IFX Gertrude]

China Industrial Profits Slow In May



Chinese industrial profit rose at a slower rate in May, figures from the National Bureau of Statistics showed Friday.

Total industrial profit rose 8.9 percent on year in May. This follows the 9.6 percent increase in April.

Industrial profit rose 9.8 percent in the period of January to May, a slower rate of increase than the 10 percent rise in the period of January to April.

Year-to-date profit of private enterprises increased most by 12.9 percent in May. This was followed by a 3.4 percent rise in state-owned enterprises and a 0.9 percent uptick in collective enterprises.

However, mining year-to-date profits declined 16.4 percent in May.

News are provided by InstaForex.

[IFX Gertrude]

New Zealand Business Confidence Tumbles In June - ANZ



Business confidence in New Zealand declined sharply in June, the latest survey from ANZ revealed on Monday - falling from 53.5 in May to 42.8 in June.

Analysts suggest that the Reserve Bank of New Zealand's actions to raise interest rates are primarily responsible for the decline.

The activity outlook for June came in with a score of 45.8, down from 51.0 in the previous month.

"Growth signals remain strong and inflation messages are waning: a good mix for keeping the OCR on the low side and the economy on a roll," said ANZ Chief Economist Cameron Bagrie.

News are provided by InstaForex.