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IFX Tatyana
post Jun 9 2009, 11:12 AM
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Canadian Dollar Strengthens To New Multi-Day Highs Against Majors
Tuesday during early deals, the Canadian dollar strengthened to new multi-day highs against its European, US, Australian and Japanese counterparts as crude oil prices rose toward $69 a barrel, snapping two-days of fall.

U.S. light crude for July delivery rose 93 cents to $69.02 a barrel by 4:55 am ET, just off a session high of $69.37. London Brent crude gained 94 cents to $68.82.

The Canadian dollar edged up to a 6-day high against the Aussie, an 8-day high against the euro and a 4-day high against the yen and the dollar. The Canadian currency appreciated 9% against the greenback, 2.4% against the euro and 5% against the yen in May, as stocks advanced and commodities rallied, led by energy, as the slumping greenback boosted demand for raw materials as a hedge against inflation. Raw materials account for more than half of Canada's export revenue.

During early deals on Monday, the Canadian dollar jumped to 1.1083 against the U.S. currency. This set a 4-day high for the loonie. On the upside, 1.079 is seen as the next target level for the Canadian dollar. The greenback-loonie pair was worth 1.1161 at Monday's close.

Canada's currency, called the loonie, depreciated 3% against the U.S. dollar in the first quarter of 2009, which ended on March 31, compared to a 13% loss in the fourth quarter of 2008 ending December 31.

But the Canadian dollar is showing strength since the beginning of second quarter this year as the crude oil prices rebounded and investors stepped out of havens into higher-yielding assets such as stocks amid signs the global economic slump is moderating. Thus far, the loonie has appreciated 17% against the greenback.

The Canadian dollar, which closed Monday's trading at 88.31 against the yen rose to a 4-day high of 88.65 during early deals on Tuesday. The next upside target for the loonie-yen pair is seen at the 91.0 level.

After hitting a new multi-year low of 68.44 against the yen on January 21, the Canadian dollar rebounded and extended its uptrend in the subsequent months. Since then, the loonie-yen pair advanced 23% to hit a new multi-month high of 89.20 on June 03.

The Canadian dollar rose to a 6-day high of 1.5412 against the euro in early deals on Tuesday. This may be compared to Monday's close of 0.8811. If the Canadian dollar climbs further, it may likely target the 0.872 level.

The Federal Statistical Office said Germany's trade surplus declined to EUR 9.4 billion in April from EUR 11.3 billion in the previous month. The surplus stood above the expected level of EUR 9.3 billion. Upon calendar and seasonal adjustment, the foreign trade surplus totaled EUR 9 billion.

According to provisional results of the Deutsche Bundesbank, the current account balance showed a surplus of EUR 5.8 billion in April, much smaller than the EUR 15.4 billion in April 2008.

The Canadian dollar that was worth 0.8811 against the Aussie at yesterday's New York session close, rose to a 5-day high of 0.8787 by about 5:20 am ET Tuesday. If the loonie climbs further, 0.872 is seen as the next upside target level.

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IFX Darika
post Jun 9 2009, 03:46 PM
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Pound climbs to 5-day high against yen and franc
Extending its recent rally, the UK's sterling rallied strongly higher against its major rivals on Tuesday morning in Asia. The pound rose to a 5-day high of 158.6 against the Japanese yen and 1.7548 against the Swiss franc by 8:00 pm ET. The pound also ticked up to 1.6102 against the US dollar and 0.8656 against the euro during this time.

Traders mulled reports showing the average asking price for houses in Great Britain came in at -44.1 in May, the Royal Institute of Chartered Surveyors said today, posting an 18-month index high. The score beat analyst expectations for -50.0 following the revised -58.7 in April for the highest reading since November 2007.

At the same time, the British Retail Consortium report showed today that same-store sales in May were down 0.8 percent on year. Overall sales, including those from newly opened stores, were up 0.8 percent on year.

The next upside target levels for the pound are seen at 1.773 against the franc, 161 versus the yen, 1.61 against the buck and 0.865 against the euro. At Monday's North American session, the pound closed deals at 0.8663 against the euro, 1.7525 versus the franc, 1.6053 against the greenback and 158.14 against the yen.

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IFX Tatyana
post Jun 11 2009, 01:13 PM
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Japanese yen bounces back against European majors
During early European deals on Thursday, the Japanese yen reversed its Asian session's downtrend against the European currency, the British pound and the Swiss franc. Meanwhile, the yen extended its gains against the US dollar.

The yen edged down earlier in Asian deals after a report showed that Japan's economy shrank in the first quarter at its fastest pace since World War Two.

The gross domestic product in Japan contracted by 3.8 percent in the first quarter compared to the previous three months, the Cabinet Office said today in its final report. That was slightly better than the record preliminary reading of -4.0 percent, at which analysts expected GDP to hold steady. GDP saw a 3.8 percent quarterly decline in Q4 of 2008.

On an annualized basis, GDP was down 14.2 percent versus expectations for a 14.9 percent decline after the -15.2 percent preliminary reading. Capex came in at -8.9 percent compared to the original 10.4 percent decline.

The Japanese yen extended its Asian session gains against the US dollar during early European deals on Thursday. At 3:10 am ET, the yen reached a high of 97.67 against the greenback, compared to 98.13 hit late New York Wednesday. The next upside target level for the Japanese currency is seen around 96.9.

The Japanese yen that closed Wednesday's North American session at 137.23 against the European currency declined to 137.71 at 2:15 am ET Thursday Thereafter, the yen reversed its direction and is currently trading at 136.80 against the euro with 134.3 seen as the next target level.

Against the British pound, the Japanese unit gained ground after hitting a low 160.98 at 2:15 am ET Thursday. The yen is presently trading at 160.05 versus the pound, compared to Wednesday's closing value of 160.56. On the upside, 155.6 is seen as the next target level for the Japanese yen.

The Japanese currency that touched a low of 91.09 against the Swiss franc during today's Asian deals strengthened thereafter. At 3:25 am ET, the yen climbed to 90.44 against the franc. This may be compared to Wednesday's closing value of 90.85. If the Japanese yen gains further, 89.6 is seen as the next target level.

At 4.00 am ET, the European Central Bank is slated to issue its monthly bulletin.

Half an hour later, Inflation Attitude survey is due from the Bank of England. According to the quarterly survey released on March 12, median expectations of the rate of inflation over the coming year were 2.1%, the lowest out turn since May 2005.

From U.S., the retail sales for May, business inventories for April and the weekly jobless claims report are expected.

Atlanta Federal Reserve Bank President Dennis Lockhart is due to deliver a speech on the economy before National Association of Securities Professionals annual conference in Atlanta at 1:05 PM Eastern Time.

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IFX Darika
post Jun 11 2009, 03:26 PM
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Dollar Choppy Versus Other Majors Wednesday
The dollar firmed up in choppy trading versus other major currencies Wednesday, but most of its gains came prior to the release of the Federal Reserve's Beige Book, which said that economic conditions remained weak or deteriorated further during the period from mid-April through May.

After coming under pressure over the last two days versus the euro and sterling amid increased risk appetite, the dollar steadied as a rally in stocks faded, causing traders to seek safer ground in the world's reserve currency.

The dollar spent most of the afternoon between 1.3900 and 1.4000, staying away from a 5-month low of 1.4338 set a week ago. Versus the sterling, the dollar managed to hold its ground near 1.6350, having slipped more than 5 cents over the previous two sessions. 8 days ago, the buck dropped to a 6-month low of 1.6662, culminating a dismal one-month run to the downside.

Russian Central Bank rattled currency traders today by saying it may cut its U.S. treasury investments in favor of International Monetary Fund bonds.

Also Wednesday, official data showed that the German annual inflation rate reached the lowest level since 1987 on easing energy and food prices. French industrial production dropped faster than expected in April due to widespread contraction in all industrial sub-sectors, especially in the manufacture of petroleum products.

Out of the euro area, British manufacturing output recorded growth for the second straight month in April signaling that the economy is on the road to a gradual recovery.

The dollar crept higher versus the yen, rising back above 98 to challenge a 4-week high of 98.87, set Monday morning. Wednesday saw some key statistical data releases from major Asian economies. Official reports showed that orders for Japanese machinery dropped to the lowest level in more than two decades and in China, consumer prices fell for the fourth straight month.

Back in the US, the Fed's Beige Book, a compilation of anecdotal evidence on economic conditions from each of the twelve Federal Reserve districts, said manufacturing activity declined or remained at a low level across most districts.

However, the Fed said that several districts also reported that the outlook by manufacturers has improved somewhat.

With the value of exports falling by more than the value of imports in the month of April, the Commerce Department released a report Wednesday morning showing that the U.S. trade deficit for the month came in modestly wider than in March.

The report showed that the trade deficit widened to $29.2 billion in April from a revised $28.5 billion in March. Economists had expected the deficit to widen to $29.0 billion from the $27.6 billion originally reported for the previous month.

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dice735
post Jun 12 2009, 11:15 AM
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Thanks for the interest reviews. Keep on Insta! biggrin.gif
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IFX Tatyana
post Jun 12 2009, 03:51 PM
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US Dollar Edges Up Against Majors.
Friday, the dollar edged up against its major counterparts on hopes of an economic recovery as data showed yesterday that the retail sales in U.S. rose in May for the first time in three months and the number of people filing first-time unemployment claims dropped last week to the lowest level in more than four months.

The dollar also gained ahead of the G8 finance ministers meeting later in the day where the ministers are expected to discuss the exit policies.

Trading will be subdued as investors may focus on the comments that may come out of the Group of eight ministers meeting. Its is expected that U.S treasury secretary may say U.S favors a strong dollar.

The U.S. Labor Department revealed Thursday that initial jobless claims, a closely-watched gauge of layoffs, came in at 601,000 for the week ended at June 6th. This was down 24,000 from the previous week's revised level of 625,000.

Another report released by the Commerce Department said that retail sales showed a notable increase in the month of May, although the increase was due in large part to an increase in gasoline prices that drove up sales at gas stations.

The report showed that retail sales rose 0.5 percent in May following a revised 0.2 percent decrease in April. Economists had expected sales to increased by 0.5 percent compared to the 0.4 percent decrease originally reported for the previous month.

Today at 8:30 am ET, the export & import price indexes for April, are due out from U.S. At 10 am ET, the Reuters/University of Michigan's preliminary report on the consumer sentiment index for June is scheduled to be released. Consumer confidence is expected to remain almost flat in the month, with economists forecasting a value of 68.6, little change from the previous month's 68.7.

The dollar that was worth 1.4110 against the euro and 1.6593 against the pound at yesterday's New York session close hit highs of 1.4034 and 1.6448, respectively during today's early trading. The next upside target levels for the dollar is seen at 1.391 against the European currency and 1.624 against the pound.

From the euro-area, the Euro zone industrial production dropped a seasonally adjusted 1.9% month-on-month in April, compared with a 1.4% fall in March, revised from 2% drop reported initially. Economists were looking for a decline of 0.4%.

Year-on-year, industrial production declined 21.6% in April, after falling 19.3% in March, revised from 20.2% drop estimated initially. Economists had predicted a decrease of 19.8%.

Additionally, the French statistical office INSEE said consumer price index or CPI dropped 0.3% year-over-year in May, compared with a 0.1% increase in the previous month. This was the first decrease since 1957. Economists were looking for a decline of 0.2%.

The dollar edged higher against its Swiss counterpart during Friday's early trading. At about 5:15 am ET, the dollar-franc pair hit as high as 1.0766, compared to yesterday's closing value of 1.0704. If the dollar rises further, 1.095 is seen as the next target level.

The greenback strengthened in early dealings versus the yen and hit as high as 98.26 by 5:40 am ET. This may be compared with yesterday's closing value of 97.65. The immediate resistance level for the pair is seen around the 98.8 level.

Japan's Ministry of Economy, Trade and Industry said today that the industrial production grew 5.9% month-on-month in April, revised up from the preliminary estimate of 5.2%. On a yearly basis, production plunged 30.7% in April.

Japan's consumer confidence improved to 36.3 in May from 33.2 logged in the previous month, a monthly survey from the Cabinet Office revealed. The indicator stood above the expected reading of 34.

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desire
post Jun 12 2009, 03:59 PM
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Thanks for these useful infos.

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IFX Darika
post Jun 12 2009, 04:15 PM
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We are glad to provide our clients the most actual and interesting information! More news you can get from our web-site daily using this link: forex news.



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IFX Tatyana
post Jun 18 2009, 11:37 AM
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Switzerland Cuts Economic Outlook, Govt. Announces New Stimulus Measures.
Wednesday, the Swiss government lowered its economic outlook for 2009 and lunched new set of measures to address the recession.

The State Secretariat for Economic Affairs or SECO said gross domestic product or GDP may fall 2.7% this year and by 0.4% next year. It was down from its previous forecast of a 2.2% contraction for this year and a slight recovery of 0.1% for 2010.

Consumer prices are forecast to decline 0.5% this year and may increase 0.9% in the coming year. In the March report, the government had forecast a 0.2% fall for this year and a rise of 1% for the next year.

Further, the forecast for the jobless rate in 2009 is kept untouched at 3.8%, while revised to 5.5% from 5.2% for the next year.

On the same day, the government announced new stimulus measures worth 400 million Swiss francs to fight rising unemployment. It brought overall measures of the third economic package to 750 million francs. The new measures include temporary employment in non-profit organizations, subsidies for training programmes and internships in government institutions.

The government also approved 200 million francs last month in subsidies for health insurance and 150 million francs in tax reductions.

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IFX Darika
post Jun 18 2009, 02:57 PM
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Dollar Fades Versus Majors After Obama Unveils Financial Reforms
The dollar tailed off versus other major currencies on Wednesday after President Barack Obama laid out a "sweeping" agenda for regulatory reform of the financial system.

Among reforms, Obama proposed granting the Federal Reserve the authority to scrutinize firms that are large enough to pose a "systemic risk" to the financial markets.

While the dollar came under some pressure following the announcement, on the whole its been a week a stabilization for the world's reserve currency. Although the buck has drifted lower against the yen, it has managed to consolidate recent gains versus the euro and sterling after a tough April and May.

The dollar slipped to a fresh 2-week low of 95.50 versus the yen, having only been above the century mark in 2009 for a few days in April.

Wednesday, the Bank of Japan and the Cabinet office raised their economic assessment for the second straight month as some of the leading indicators suggested that the worst of the recession is over.

The dollar eased about a penny to 1.3950 versus the euro, moving away from a 4-week high near 1.3750 set last week. Versus the sterling, the dollar remained choppy near 1.6400, staying near a 6-month low of 1.6662 set early in June.

In economic news from the US, consumer prices showed a modest increase in the month of May, according to a report released by the Labor Department on Wednesday, with the mild price growth coming in below the expectations of economists.

The report showed that consumer prices edged up 0.1 percent in May after coming in unchanged in April. Economists had been expecting a somewhat more substantial increase in prices of about 0.3 percent.

Elsewhere, the eurozone's trade surplus in April improved from March as well as from the year-ago period, a report from the Eurostat showed Wednesday.

The trade surplus increased to EUR2.7 billion in April from a revised surplus of EUR1.8 billion in March, and a EUR2.2 billion surplus last year. For March, the trade surplus was initially reported as EUR0.4 billion.

Meanwhile, the number of Britons claiming jobless benefits reached the highest level since July 1997, although the increase was less than expected, official data showed Wednesday.

The claimant count was 1.54 million in May, up 39,300 over the previous month, the Office fConsumer prices showed a modest increase in the month of May, according to a report released by the Labor Department on Wednesday, with the mild price growth coming in below the expectations of economists.

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IFX Darika
post Jun 19 2009, 03:53 PM
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IMF May Raise Global Growth Forecast For 2010, Official Says
The International Monetary Fund or IMF may raise its 2010 growth outlook for the world economy in the coming weeks, reflecting some improvements in global economic conditions, IMF's First Deputy Managing Director John Lipsky said Friday. He called for forceful policies to tackle the financial sector stress and continued international collaboration to ensure signs of economic improvement lead to a sustained global recovery.

In a keynote address to Turkish Industrialists' and Businessmen's Association in Bodrum, Lipsky said, "Financial conditions have improved, confidence is recovering gradually, and indicators of future production and demand have firmed. Reflecting these developments, I expect that in the coming weeks we will revise our growth projections modestly upward, mainly with regard to 2010."

However, he warned that given the worldwide increase in unemployment, it is far too early to conclude that the goal of restoring global growth has been accomplished.

While noting that recent indicators have signaled a slowdown in economic contraction, Lipsky said the timing and pace of the global economic recovery remains uncertain.

In April, the IMF had forecast that the global economy will contract by 1.3% in 2009, the deepest recession since the World War II. The economy is then expected to grow by 1.9% in 2010. The IMF is due to announce its updated forecasts for the world economy on July 7.

However, Lipsky said, "Even the upbeat indicators widely cited as representing "green shoots" still point to a global recovery that would be sluggish by historic standards."

He said activity in the advanced economies will revive only gradually over the course of 2010, weighed down by financial deleveraging, limited credit growth, weak household income growth and declining household net worth. Emerging economies are unlikely to return to trend growth while advanced economies are still underperforming. As a result, output gaps and unemployment rates in most economies likely will continue rising through 2010, Lipsky said.

In this context, he said, it should be clear that in most cases, continued strong policy actions will be needed during the remainder of this year and into 2010 in order to insure that economic activity begins a sustained improvement.

He stressed that robust growth will not be achieved until continuing financial sector problems are addressed forcefully. He noted that recent bank stress tests in major advanced economies, especially in the United States and the United Kingdom, have represented a significant step toward rebuilding market confidence and attracting new private capital.

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IFX Tatyana
post Jun 22 2009, 03:47 PM
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Euro Slides To Multi-day Lows Against Most Majors
The European common currency lost ground against its major rivals on Monday morning in Asia. The euro slumped to multi-day lows against most of them.

Traders are looking forward to the seasonally adjusted Italian industrial orders report for April and the German IFO business climate report for June in the upcoming session.

The euro fell to a 5-day low of 0.8444 against the pound around 9:10 pm ET and the pair is presently worth near 0.845. If the euro slips further, support is seen at the 0.843 level. At Friday's close, the euro-pound pair was quoted at 0.8458.

Latest report from the property website Rightmove showed that the average property asking price in the U.K. eased 0.4% month-over-month in June to 226,436 pounds. Annually, the asking price fell a steeper 5.5%.

Retreating from last week's winning streak, the euro fell to a 4-day low of 133.19 against the Japanese yen by 9:50 pm ET. The euro-yen pair that closed Friday's trading at 134.34 is presently quoted at 133.56 and the next downside target for the pair is seen at the 132.3 level.

The yen gained across the board after the Ministry of Economy, Trade and Industry report showed today that Japan's tertiary industry activity index rose 2.2% month-over-month in April following an upwardly revised 2.8% decline in the previous month. Economists had expected 2.3% growth for the month.

The euro also slipped to a 4-day low of 1.5056 against the Swiss franc around 5:35 pm ET. This may be compared to last week's close of 1.5079. On the downside, the euro-franc pair may likely target the 1.504 level.

Pulling back from Friday's weekly high of 1.4013, the euro declined to 1.3887 against the US dollar by 9:25 pm ET. The euro-buck pair that closed last week's deals at 1.3958 is presently trading at 1.3915.

With little first-tier economic data to consider, attention will likely turn to US Federal Reserve's interest rate decision on Wednesday. Analysts expect the FOMC will retain its base rate at 0.25 percent.

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IFX Darika
post Jun 22 2009, 05:06 PM
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World Bank Lowers Global GDP Forecast; Sees Huge Fall In Intl Capital Flows
The World Bank reduced its global GDP estimate as well as the outlook for most other economies and warned of a large decline in international capital flows amidst financial market fragility and recession.

The Washington-based lender now forecasts the world economy to shrink 2.9% this year, larger than its earlier prediction of a 1.7% decrease. In a report released on June 11, the lender had predicted the economy to shrink close to 3% in 2009. Global GDP is forecast to rebound with 2% growth next year and 3.2% by 2011.

The World Bank expects developing economies to grow 1.2% this year, following a 5.9% growth in 2008. The growth estimate for 2009 is much lower than the 2.1% expansion estimated in March. Following a slow growth in 2009, the bank sees a higher 4.4% growth in 2010 and 5.7% in 2011, albeit subdued relative to the strong performance before the current crisis.

When China and India are excluded, GDP in the remaining developing countries is projected to drop 1.6%, leading to continued job losses and throwing more people into poverty. China's GDP growth is seen at 7.2%, while Indian output growth is projected to be 5.1%. In 2010, India is expected to record 8% growth.

According to the latest Global Development Finance 2009 report, net private capital inflows to developing countries dropped to US$707 billion in 2008 amidst global economic recession and financial market fragility. Further, international capital flows are estimated to drop again in 2009 to US$363 billion.

Justin Lin, World Bank Chief Economist and Senior Vice President, Development Economics said, "The need to restructure the banking system, combined with emerging limits to expansionary policies in high-income countries, will prevent a global rebound from gaining traction."

Policy measures adopted by a number of large economies helped to avoid systemic collapse. The lender stressed the importance of concerted global action while the crisis is underway. The bank said as the world is entering an era of slower growth, it requires tighter and more effective oversight of the financial system.

High income nations like OECD countries are estimated to shrink 4.2% in 2009, while the decline in the U.S. is seen at 3% and that in Japan at 6.8%.

The World Bank also lowered its growth forecast for East Asia and the Pacific region from its initial growth forecast of 5.3%. The World Bank noted that this region experienced the full brunt of the crisis due to its close trade links with high income nations and as well as declining investment. The region is now estimated to grow 5% this year, with recovery across the region expected to start in the second half of 2009 and into 2010. But, the turnaround is set to be gradual as the regional GDP is projected to rise 6.6% in 2010 and 7.8% by 2011.

The World Bank said Europe and Central Asia was the most adversely affected region by recent developments. Huge current account deficits and domestic overheating resulted in the reversal of capital flows. For this region, the lender sees 4.7% contraction in 2009, while it is expected to expand around 1.6% next year. The bank revised down the estimate for 2009 from a 2% fall predicted in late March.

Meanwhile, South Asia experienced a significant decrease in capital inflows and a a falloff in investment growth. An annual growth of 4.6% is estimated for the region, down from 6.1% in 2008. In 2010, output is predicted to grow 7% and 7.8% in 2011.

The Middle East and North Africa region growth is predicted to halve to 3.1% this year. Though this region is less directly affected by the credit crunch than other regions, local equity property markets came under immense pressure. The economy is set to expand 3.8% in 2010 and 4.6% in 2011.

At the same time, the Sub-Saharan Africa was adversely influenced by reduced external demand, plunging export prices, weaker remittances, tourism revenues and lower capital inflows. Growth is estimated to slow sharply this year to 1%, down from an average growth of 5.7% in the last three years.

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dorin
post Jun 26 2009, 03:20 PM
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why news not update so long? blink.gif
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IFX Tatyana
post Jun 26 2009, 03:26 PM
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QUOTE (dorin @ Jun 26 2009, 05:20 PM) *
why news not update so long? blink.gif


We make an apology, but we had some technical problems with the news. We hope there won't be any problems in the future.



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IFX Tatyana
post Jun 26 2009, 03:28 PM
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Euro Shows Mixed Trading Against Majors
Friday, the European currency climbed to a 2-day high against the US dollar and the Japanese yen. On the other hand, the euro pared its Asian session gains against the British pound, while showed choppy trading versus the Swiss franc.

In economic news from Europe, Germany's Federal Statistical Office said in a report that the import price index dropped 10.4% year-over-year in May, compared to the 8.6% fall in the previous month. This was the highest price decline since February 1987. Economists were looking for a decline of 10.3%. On a monthly basis, import prices remained unchanged in May, after falling 0.8% in April. Economists had predicted an increase of 0.3%.

Meanwhile, the French statistical office INSEE said in a report that the consumer confidence stood at minus 37 in June, up from minus 40 in May. Economists had expected a reading of minus 39 for June.

Also, the French statistical office INSEE confirmed a 1.2% sequential contraction for its economy in the first quarter. At the same time, the statistical agency revised the figure for the fourth quarter to show a fall of 1.4% from a 1.5% contraction reported initially.

A report by France's Ministry of Labor and Employment showed today that the number of unemployed persons increased by 1.5% or 36,400 in May from the preceding month. Year-on-year, the number of unemployed persons increased by 26.4%. During the month, there were 2,543,100 unemployed persons.

Against the US dollar, the European currency edged higher during early deals on Friday. At 6:45 am ET, the euro-dollar pair reached a 2-day high of 1.4092, compared to 1.3989 hit late New York Thursday. If the pair gains further, 1.424 is seen as the next target level.

The single currency lost ground after hitting a high of 0.8573 against the British pound at 1:15 am ET Friday. The euro-pound pair is currently trading at 0.8539 with 0.843 seen as the next target level. The pair closed Thursday's North American session at 0.8548.

The 16-nation currency largely bounced between 1.532 and 1.529 against the Swiss franc during today's early deals. The euro-franc pair is now worth 1.5307, compared to Thursday's closing value of 1.5304.

KOF economic think tank said its economic barometer for Switzerland rose to minus 1.65 in June from May's revised reading of minus 1.85. Meanwhile, economists had expected the indicator to rise to minus 1.75.

Against the Japanese yen, the euro traded higher during Friday's early deals. At 2:40 am ET, the euro-yen pair hit a 2-day high of 134.96, compared to yesterday's closing value of 134.26. The next upside target level for the pair is seen around 137.2.

Japan's consumer prices dropped sharply in May compared to the year-ago period, mainly due to lower prices for utilities, transport and communication, official data showed today.

Data released by the Ministry of Internal Affairs and Communications said consumer prices fell 1.1% year-on-year in May, coming in line with economists' estimate, after a 0.1% drop in the previous month. Consumer prices declined for the fourth consecutive month in May.

Japan's index of all industry activity dropped 9.9% year-on-year in April, slower than a 11.9% fall in the preceding month, the Ministry of Economy, Trade and Industry said today. The index has been declining on an annual basis continuously since March 2008.

Traders are now likely to focus on the North American session, in which the U.S. Bureau of Economic Analysis is due to release its personal income & outlays report for May at 8:30 am ET. Economists estimate the report to show that personal income rose 0.2% and the personal spending increased 0.4% in the month.

At 10:00 am ET, the Reuters/University of Michigan's final report on the consumer sentiment index for June is scheduled to be released. Consumer confidence is expected to rise in the month, with economists forecasting an increase in the index to 69 from the previous month's reading of 68.7.

News are provided by InstaForex.



Regards, news editor Tatyana Tokarchuk


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dorin
post Jun 26 2009, 03:38 PM
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oh, updated! biggrin.gif that is good.
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IFX Darika
post Jun 26 2009, 04:13 PM
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US Dollar Ticks Up Following May Personal Income Report
The greenback, which slumped to multi-day lows against most majors just before the release of the US Commerce Department report on personal income, started trending higher following the report. As of now, the dollar is trading at 95.42 against the Japanese yen, 1.0847 versus the Swiss franc, 1.6491 against the pound and 1.4083 against the euro.

The report showed that personal income jumped 1.4 percent in May following an upwardly revised 0.7 percent increase in April. Economists had expected income to rise 0.3 percent compared to the 0.5 percent growth originally reported for the previous month.

Additionally, the Commerce Department also said that personal spending rose 0.3 percent in May after coming in unchanged in the previous month. The moderate increase in spending came in line with economist estimates.

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IFX Tatyana
post Jun 30 2009, 09:33 AM
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U.K. House Prices Rise For Second Straight Month.
Tuesday, the Nationwide Building Society said house prices in the U.K. rose 0.9% in June from the prior month, following a 1.3% increase in May. On a yearly basis, house prices were down 9.3% versus May's 11.3% decline. The price of a typical house totaled GBP 156,442 in June.

Martin Gahbauer, Nationwide's Chief Economist said, "If the pattern of price movements seen in the first half of the year is repeated over the second half, then prices could show only a small single digit fall for 2009 as a whole."

In the second quarter, all regions see moderation in annual rate of price decline. For U.K. as a whole, house prices rose 1.1% between first and second quarter. House prices were down 11.7% annually, slower than the 16.5% fall seen in the first quarter.

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IFX Darika
post Jun 30 2009, 01:05 PM
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Dollar And Yen Plunge On Improving Risk Appetite
Tuesday in Asia, the U.S. dollar and the Japanese yen plummeted against their key counterparts as hopes of an economic recovery increased risk appetite to buy higher-yielding assets.

The dollar and the yen are viewed as safe-haven currencies and tend to attract buying when worries about the global economy and financial markets flare up, but can come under pressure when such concerns recede.

Asian stock markets are broadly higher today, taking their cue from gains on Wall Street with energy stocks buoyed by a continued rise in crude oil prices.

Japan's Nikkei 225 was up 1.9%, Australia's S&P/ASX 200 was 1.5% higher, Korea's Kospi Composite Index was up 0.8%, Hong Kong's Hang Seng was up 1.4%, China's Shanghai Composite was 0.1% higher and Taiwan shares were up 0.9%.

Japan's Nikkei average rose 1.9 percent today, and briefly it hit 10,000 as surging crude prices boosted trading houses such as Mitsubishi Corp., which deal in oil, amid growing optimism that economic recession may be easing.

The 225-issue Nikkei Stock Average gained 184.57 points, or 1.89 percent, from Monday to 9,968.04 in the morning session after briefly touching 10,000.30. The benchmark index last topped the 10,000 line on June 15, logging an intraday high of 10,126.55.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 14.32 points, or 1.56 percent, to 929.64.

Stock market gains are fueling risk appetite in the currency markets, sending the euro, aussie and kiwi higher.

Sentiment in Japan was helped by news that household spending in May rose 0.3% on year, up for the first time in 15 months, and beating expectations for a 1.5% decline.

But that was tempered by the release of the May jobless rate, which rose to 5.2%, the highest since September 2003, from 5.0% in April. Analysts had expected an increase of 5.1% for May.

The job-to-applicant ratio came in at a record low of 0.44, compared to forecasts for 0.45 after the 0.46 level in April.

But the number of employed persons rose from 63.22 million in April to 63.42 million in May. The job participation rate was 60.5 percent, up from 60.4 percent a month earlier.

The Organization for Economic Cooperation and Development last week forecast Japan's jobless rate will rise to an unprecedented 5.8 percent in 2010.

In Asian trading on Tuesday, the yen fell to a 2-week low of 159.97 against the pound. This may be compared to yesterday's close of 159.15. If the yen weakens further, it may likely target the 162.6 level.

The yen has declined 4% against the pound after it reached a 3-week high of 154.13 on June 23.

The yen tumbled to a 15-day low of 135.97 against the euro during Asian deals on Tuesday. The next downside target level for the Japanese currency is seen at 138. At yesterday's close, the euro-yen pair was quoted at 135.32.

The euro gained 1% against the yen yesterday after a report showed that the Euro-zone economic sentiment rose more than expected in June.

The economic sentiment indicator rose to 73.3 from an upwardly revised reading of 70.2 recorded in May. Meanwhile, economists had expected the index to rise to 71 from May's initially reported reading of 69.3.

Against the Swiss franc, the yen slipped to a 6-day low of 89.14 in Asian deals on Tuesday. On the downside, 89.8 is seen as the next target level for the yen. The franc-yen pair was worth 88.80 at Monday's New York session close.

After hitting a 1-month high of 86.89 against the franc on June 24, the yen has been declining and it has lost more than 2% thus far.

The dollar also weakened today on optimism the global slump is waning, reducing the currency's appeal as a refuge.

During Asian deals on Tuesday, the dollar plunged to 1.6663 against the pound. This set the lowest level for the dollar since June 03. If the dollar slides further, it may likely target a new multi-month low of 1.70. The pound-dollar pair closed yesterday's trading at 1.6567.

The pound rose as U.K. consumers became much more upbeat about the economy's prospects over the next 12 months in June, boosting the overall measure of confidence for the fourth time in five months.

Consumers seem to believe that the measures taken by the government and the Bank of England to support the economy are likely to work, and indicating that they in turn won't cut back on spending as sharply as many economists had expected.

Polling firm GfK NOP said today that the headline measure of consumer confidence rose to -25 in June from -27 in the previous month. The index was in line with economists' expectations. At the same time, the index came in better than the minus 34 registered in June last year.

The dollar plummeted to a 7-month low of 1.6666 against the pound on June 03. Although the dollar gained thereafter, it pulled back again after reaching a 12-day high of 1.5805 on June 08.

However, the pound-dollar pair largely bounced between 1.6212 and 1.6623 for the past two weeks, but the pair moved off the range today.

The dollar slumped to a 4-day low of 1.0802 against the Swiss franc and a 6-day low of 1.4133 against the euro in Asian deals on Tuesday. If the dollar drops further, it may likely target 1.065 against the franc and 1.418 against the euro. The euro-dollar pair closed trading at 1.4089 and the dollar-franc pair at 1.0823 on Monday.

Extending yesterday's 1% gain, the dollar surged up against the yen in today's early Asian deals and reached a 5-day high of 96.33 at 8:05 pm ET. But the dollar fell thereafter and the pair is currently trading at 95.69, down from yesterday's New York session close of 96.06. The near term support level for the U.S. currency is seen at 95.1.

Traders are now likely to focus on the European session, in which the Swiss May UBS consumption indicator, French May PPI, German June unemployment rate, Euro-zone M3 money supply for May and CPI for June, Italian CPI for June and PPI for May, U.K. final first quarter GDP estimate and current account reports are expected.

From the U.S., the S&PCase-Shiller home price index for April and the consumer confidence report for June are due in the North American session.

News are provided by InstaForex.



Regards, news editor Darika Isakova


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