Forex News from InstaForex

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Re: Forex News from InstaForex

Postby IFX Gertrude » Wed May 24, 2023 11:59 pm

SINGAPORE GDP SLIPS 0.4% IN Q1

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Singapore's gross domestic product dropped a seasonally adjusted 0.4 percent on quarter in the first three months of 2023, the Ministry of Trade and Industry said on Thursday.

That beat forecasts for a decline of 0.7 percent following the 0.1 percent increase in the previous three months.

On an annualized basis, GDP rose 0.4 percent, exceeding expectations for a gain of 0.1 percent, which would have been unchanged from the previous reading.

Upon the release of the data, the MTI announced that its 2023 GDP growth forecast for Singapore has been maintained at 0.5 to 2.5 percent, with growth likely to come in at around the mid-point of the range.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Fri May 26, 2023 1:08 am

CANADIAN DOLLAR SLIDES AGAINST MAJORS

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The Canadian dollar weakened against other major currencies in the Asian session on Friday.

The Canadian dollar fell to nearly a 1-month low of 1.3654 against the U.S. dollar and a 9-day low of 1.4648 against the euro, from yesterday's closing quotes of 1.3639 and 1.4627, respecively.

Against the yen and the Australian dollar, the loonie dropped to 102.38 and 0.8885 from yesterday's closing quotes of 102.65 and 0.8873, respecively.

If the loonie extends its downtrend, it is likely to find support around 1.37 against the greenback, 1.49 against the euro, 99.00 against the yen and 0.91 against the aussie.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Mon May 29, 2023 3:46 am

SINGAPORE PRODUCER PRICES DECLINE 4.6%

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Singapore's producer prices decreased for the third straight month in April, largely due to a slump in the oil index, data from the Department of Statistics showed on Monday.

The manufacturing producer price index fell 4.6 percent year-on-year in April, slightly faster than the 4.4 percent rise in the prior month.

The oil index plunged 21.0 percent annually in April, and the non-oil index showed a comparatively smaller decrease of 1.1 percent.

Domestic supply prices were 11.4 percent lower in April from a year ago, after an 11.3 percent drop in March. This was the fourth successive monthly fall.

On a monthly basis, producer prices moved up 0.3 percent in April versus a 0.9 percent rise in the previous month.

Separate data from the statistical office revealed that import prices fell at a faster pace of 11.0 percent yearly in April, following a 10.1 percent decline in the prior month.

Monthly, import prices increased 1.2 percent from March, when they grew by 0.4 percent.

Data showed that export prices registered a decrease of 12.4 percent yearly in April, while they rose 0.7 percent compared to a month ago.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Tue May 30, 2023 1:16 am

AUSTRALIAN DOLLAR FALLS AGAINST MAJORS

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The Australian dollar weakened against other major currencies in the Asian session on Tuesday.

The Australian dollar fell to a 4-day low of 0.6510 against the U.S. dollar, from an early 6-day high of 0.6559.

Against the yen and the Canadian dollar, the aussie dropped to a 4-day low of 91.28 and more than a 6-month low of 0.8856 from yesterday's closing quotes of 91.80 and 0.8883, respectively.

Against the euro and the NZ dollar, the aussie edged down to 1.6444 and 1.0788 from an early 6-day high of 1.6351 and a 4-week high of 1.0825, respectively.

If the aussie extends its downtrend, it is likely to find support around 0.63 against the greenback, 88.00 against the yen, 0.86 against the loonie, 1.68 against the euro and 1.05 against the kiwi.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Wed May 31, 2023 12:15 am

AUSTRALIA PRIVATE SECTOR CREDIT CLIMBS 0.6% IN APRIL

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Private sector credit in Australia was up 0.6 percent on month in April, the Reserve Bank of Australia said on Wednesday - accelerating from 0.2 percent in March.

On a yearly basis, credit climbed 6.6 percent.

Housing credit was up 0.3 percent on month and 5.2 percent on year, while personal credit rose 0.1 percent on month and fell 0.3 percent on year and business credit jumped 1.1 percent on month and 10.6 percent on year.

Broad money added 0.4 percent on month and 6.5 percent on year.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Thu Jun 01, 2023 1:13 am

SOUTH KOREA TRADE DEFICIT $2.10 BILLION IN MAY

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South Korea posted a merchandise trade deficit of $2.10 billion in May, the Customs Office said on Thursday.

That exceeded expectations for a shortfall of $2.89 billion following the $2.70 billion deficit in April.

Exports dropped 15.2 percent on year, missing forecasts for a decline of 13.5 percent following the 14.3 percent fall in the previous month.

Imports were down 14.0 percent on year versus expectations for a drop of 10.6 percent after sinking 13.3 percent a month earlier.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Fri Jun 02, 2023 12:03 am

JAPAN MONETARY BASE DECLINES 1.1% ON YEAR IN MAY

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The monetary base in Japan was down 1.1 percent on year in May, the Bank of Japan said on Friday - coming in at 672.732 trillion yen.

That beat expectations for a decline of 1.4 percent following the upwardly revised 1.7 percent contraction in April (originally -1.9 percent).

Banknotes in circulation was up 1.3 percent on year, while coins in circulation fell an annual 3.1 percent.

Current account balances dropped 1.6 percent on year, including a 2.1 percent fall in reserve balances.

The adjusted monetary base was down 0.7 percent.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Mon Jun 05, 2023 12:05 am

HONG KONG PRIVATE SECTOR PMI FALLS TO 50.6 IN MAY - S&P GLOBAL

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The private sector in Hong Kong continued to expand in May, albeit at a slower pace, the latest survey from S&P Global showed on Monday with a private sector PMI score of 50.6.

That's down from 52.4 in April, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

Despite being driven by a surge in new business to Mainland China, new order growth slowed to the weakest since January. Lower new sales led to a softer rise in business activity and a reduction in inventory holdings. At the same time, staffing levels fell for the first time since November 2022.

That said, overall input cost inflation quickened as supplier performance deteriorated for the first time in seven months, thereby adding pressure to firms' margins. Less robust demand conditions also weighed on business confidence.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Tue Jun 06, 2023 5:47 am

PHILIPPINE INFLATION EASES TO 6.1%, LOWEST IN 11 MONTHS

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The Philippines' consumer price inflation eased for the fourth straight month in May to the lowest level in nearly a year, largely driven by a slowdown in prices for food products along with a fall in transport costs, data from the Philippine Statistical Authority showed on Tuesday.

The consumer price index, or CPI, climbed 6.1 percent year-over-year in May, slower than the 6.6 percent rise in April. Economists had forecast inflation to ease to 6.2 percent.

Moreover, this was the slowest inflation rate since June last year, when prices had risen the same 6.1 percent.

Nonetheless, the inflation was still above the central bank's target range of 2 to 4 percent.

The core inflation rate, which excludes prices of selected food and energy items, slowed marginally to 7.7 percent in May from 7.9 percent in April.

The annual price growth for food and non-alcoholic beverages moderated to a 5-month low of 7.4 percent in May from 7.9 percent a month ago. Meanwhile, utility costs rose at a stable rate of 6.5 percent.

Health costs were 4.1 percent higher compared to last year, and transport charges dropped by 0.5 percent.

On a monthly basis, consumer prices remained flat in May, while they were expected to increase slightly by 0.1 percent.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Wed Jun 07, 2023 12:26 am

AUSTRALIA GDP RISES 0.2% IN Q2

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Australia's gross domestic product expanded by a seasonally adjusted 0.2 percent on quarter in the first quarter of 2023, the Australian Bureau of Statistics said on Wednesday.

That missed expectations for an increase of 0.8 percent and was down from 0.5 percent in the previous three months.

On an annualized basis, GDP was up 2.3 percent - again missing forecasts for a gain of 2,7 percent, which would have been steady from the three months prior.

Capital expenditure was up 1.8 percent on quarter, exceeding expectations for a decline of 5.6 percent following the 1.4 percent contraction in the previous quarter.

The GDP chain price index was up 1.8 percent on quarter, while final consumption rose 0.2 percent.

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