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IFX Gertrude
post Feb 4 2020, 01:07 AM
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New Zealand Building Permits Surge 9.9% In December



The total number of building permits issued in New Zealand was up a seasonally adjusted 9.9 percent on month in December, Statistics New Zealand said on Tuesday - coming in at 2,910.

That follows the upwardly revised 8.4 percent drop in November (originally -8.5 percent).

On a yearly basis, building permits spiked 14.0 percent to 37,538.

The annual value of non-residential building work consented was NZ$7.5 billion, up 5.2 percent from the December 2018 year.

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IFX Gertrude
post Feb 5 2020, 05:12 AM
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Japan Services PMI Ebbs In January - Jibun Bank



The services sector in Japan continued to expand in January, albeit at a slower rate, the latest survey from Jibun Bank revealed on Wednesday with a PMI score of 51.0.

That's down from 52.1 in December, although it remain further above the boom-or-bust line of 50 that separates expansion from contraction.

Individually, business activity growth was at a four-month high, although business confidence fell to a 29-month low.

Demand conditions improved somewhat, and employment rose further.

Also, the bank's composite index came in at 50.1 - down from 51.1 in the previous month.

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IFX Yvonne
post Feb 6 2020, 08:11 AM
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Euro Mixed Ahead Of German Factory Orders



At 2.00 am ET Thursday, Destatis is scheduled to issue Germany's factory orders for December. Orders are forecast to climb 0.6 percent on month, reversing a 1.3 percent drop in November.

Ahead of the data, the euro traded mixed against its major rivals. While the euro rose against the franc, it held steady against the rest of major rivals. The euro was worth 1.1000 against the greenback, 120.90 against the yen, 1.0713 against the franc and 0.8471 against the pound as of 1:55 am ET.



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IFX Gertrude
post Feb 7 2020, 02:08 AM
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Japan Leading Index Data Due On Friday



Japan is on Friday scheduled to release preliminary December figures for its leading and coincident indexes, highlighting a modest day for Asia-Pacific economic activity. The leading index is tipped to show a score of 91.3, up from 90.8 in November. The coincident is called steady at 94.7.

Japan also will see December figures for household spending and labor cash earnings. Household spending is tipped to fall 1.6 percent on year after sliding 2.0 percent in November. Labor cash earnings are called lower by an annual 0.1 percent after easing 0.2 percent a month earlier.

Australia will see January results for the Performance of Service Index from the Australian Industry Group; in December, the index score was 48.7.

Malaysia will release December numbers for industrial and manufacturing production; in November, they were up an annual 2.0 percent and 2.5 percent, respectively.

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IFX Gertrude
post Feb 11 2020, 03:33 AM
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Australia Home Loan Data Due On Tuesday



Australia will on Tuesday release December numbers for new home loans, setting the pace for a modest day in Asia-Pacific economic activity.

Loans are expected to rise 1.6 percent on month, slowing from 1.8 percent in November. Investment lending is also seen higher by 1.6 percent on month, down from 2.2 percent in the previous month.

Australia also will see January results for the indexes of business confidence and conditions from NAB; in December, their scores were -2 and +3, respectively.

Finally, the markets in Japan are closed on Tuesday in observance of National Day and will reopen on Wednesday.

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IFX Gertrude
post Feb 12 2020, 01:38 AM
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New Zealand January Overall Credit Card Spending Rises 0.3%



The total value of credit card spending in New Zealand added a seasonally adjusted 0.3 percent on month in January, Statistics New Zealand said on Wednesday.

That was in line with expectations following the 0.6 percent decline in December.

Retail credit card spending fell 0.1 percent on month, missing expectations for an increase of 0.5 percent following the 0.8 percent drop in the previous month.

"Retail card spending has slowed over the last couple of months on the back of a very strong November month," retail statistics manager Sue Chapman said. "The industries that fell this month compared with December had falls that were quite small, with values only falling by NZ$11 million or less."

Spending in the core retail industries (which excludes automotive industries) was down 0.2 percent.

The non-retail (excluding services) category was up NZ$37 million (2.1 percent), and the services category fell NZ$0.8 million (0.3 percent) in January 2020.

By industry, the movements were: fuel, up NZ$8.7 million (1.5 percent); durables, up NZ$4.1 million (0.3 percent); motor vehicles (excluding fuel), up NZ$1.1 million (0.6 percent); apparel, down NZ$1.0 million (0.3 percent); consumables, down NZ$6.9 million (0.3 percent); and hospitality, down NZ$11 million (1.0 percent).

In actual terms, cardholders made 158 million transactions across all industries in January 2020, with an average value of NZ$50 per transaction. The total amount spent using electronic cards was NZ$8.0 billion.

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IFX Gertrude
post Feb 13 2020, 02:29 AM
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Japan Producer Prices Rise 0.2% In January



Producer prices in Japan were up 0.2 percent on month in January, the Bank of Japan said on Thursday.

That exceeded expectations for a flat reading following the 0.1 percent increase in December.

On a yearly basis, producer prices jumped 1.7 percent - again beating forecasts for 1.5 percent and up sharply from 0.9 percent in the previous month.

Export prices were up 0.3 percent on month and down 1.4 percent on year, the bank said, while import prices gained 0.7 percent on month and fell 0.7 percent on year.

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IFX Gertrude
post Feb 14 2020, 02:08 AM
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New Zealand Food Prices Rise 0.6% On Month In January



Food prices in New Zealand were up a seasonally adjusted 0.6 percent on month in January, Statistics New Zealand said on Friday.

Unadjusted, food prices gained 2.1 percent.

On a monthly basis, fruit and vegetable prices rose 3.7 percent (down 0.3 percent after seasonal adjustment); while meat, poultry, and fish prices rose 2.3 percent; grocery food prices rose 2.4 percent (up 1.3 percent after seasonal adjustment); non-alcoholic beverage prices rose 3.9 percent; and restaurant meals and ready-to-eat food prices rose 0.2 percent.

On a yearly basis, food prices were up 3.56 percent in January.

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IFX Gertrude
post Yesterday, 03:25 AM
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Japan GDP Falls 6.3% On Year In Q4



Japan's gross domestic product was down an annualized 6.3 percent in the fourth quarter of 2019, the Cabinet Office said in Monday's preliminary report.

That was well shy of expectations for a decline 3.8 percent following the 0.5 percent increase in the three months prior.

On a seasonally adjusted quarterly basis, GDP sank 1.6 percent - again missing forecasts for a decline of 1.0 percent following the 0.1 percent gain in the third quarter.

Nominal GDP was down 1.2 percent on quarter, missing expectations for a drop of 0.6 percent after gaining 0.6 percent in the previous three months.

The GDP deflator was up 1.3 percent on year in Q4, the Cabinet Office said - exceeding expectations for an increase of 1.1 percent and up from 0.6 percent in the three months prior.

Business spending skidded 3.7 percent on quarter, missing forecasts for a decline of 1.6 percent following the 0.5 percent increase in the third quarter.

Private consumption sank 2.9 percent on quarter, missing forecasts for a drop of 2.0 percent following the 0.5 percent gain in the previous three months.

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IFX Gertrude
post Today, 05:01 AM
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EUR/USD: dollar continues to show strength, but its position does not look so unwaverable



Unlike its main competitor - the US dollar, which showed the best start since 2015, the euro seriously upset its fans. The greenback is favored by factors such as increased demand for defensive assets due to the coronavirus epidemic, strong statistics on the United States and more preferred (compared to peers) rates on the US debt market. The euro is being pulled to the bottom by unresolved issues on Brexit, the deterioration of the political landscape in the EU, disappointing macro statistics on the eurozone and the threat of a trade conflict between Washington and Brussels.

European GDP expanded by a modest 0.1% in the fourth quarter, while the German figure did not show growth at all. Experts recently interviewed by Reuters believe that by 2022, eurozone GDP will increase on average quarterly by 0.2-0.3, and by the end of 2019 it will accelerate by 0.9%. Given that the largest countries in the eurozone - France and Germany - receive about 40% of their income from foreign trade, there is reason to believe that in the near future the economy of the currency bloc may face even greater difficulties amid a slowdown in the growth of Chinese GDP associated with the epidemic coronavirus.

The successors to Angela Merkel as German Chancellor intend to fight for power in the country. The United Kingdom and the EU can not yet find common ground on a trade deal, which increases uncertainty and contributes to the outflow of capital from the EU. The ECB's ultra-soft monetary policy has made it unprofitable for both Europeans and banks to keep funds "at home" because of negative rates in the region.



Last weekend, the US trade mission reported that in March, Washington will increase the duty on aircraft imported from the EU from 10% to 15%. Apparently, these are just flowers. Over the past ten to twelve years, America has had a huge deficit in foreign trade with the EU. According to the head of the White House, Donald Trump, European duties on American goods are too high. Therefore, it is not surprising that the data on European trade balance published last Friday aroused the anger of the owner of the Oval Office. The trade surplus of the eurozone with the United States increased by 11% in 2019, to €152.6 billion. Obviously, after reaching a trade deal with Beijing, the White House intends to use all leverage to conclude an agreement with the EU.

The weakness of the eurozone economy, increased political risks in the region and concerns about a trade war between Washington and Brussels are forcing investors to get rid of the single European currency. The EUR/USD pair sank to its lowest level since April 2017.

Investment banks have already begun to actively reduce forecasts for the main currency pair. In particular, Credit Agricole analysts believe that at the end of 2020 EUR/USD will be trading near 1.13, and not at 1.16, as previously assumed. Danske Bank specialists went even further: they expect to see the euro fall in December not to $1.15, but to $1.08.

However, it should be recognized that the positions of the greenback do not look so unshakable. Data on US retail sales for November – December were revised downward, while industrial production in the country decreased for the fourth time in the last five months. This allowed Goldman Sachs and Barclays to lower forecasts for US GDP growth in the first quarter from 1.7% to 1.4% and from 1.5% to 1.1%, respectively. Therefore, one should not be surprised that the minutes of the January meetings of the Fed and the ECB will be used by speculators in order to take profit on shorts in EUR/USD. In this regard, the breakthrough of the bulls of resistance at 1.0870 will increase the likelihood of a pullback.

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