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IFX Gertrude
post Jan 18 2018, 05:45 AM
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Oil Prices Rally on Disruption Threats in Nigeria, declining U.S. Inventories



Oil prices edged up on a reported decline in U.S. crude stockpiles and as militant groups in Nigeria threatened to launch an assault on the nation's petroleum infrastructure.

But prices continued to be below the three-year highs as fuel stockpiles continue to be ample and as refineries reduce operations.

Brent crude futures stood at $69.56 per barrel, 18 cents or 0.3 percent higher from their last settlement. On Monday, the international benchmark hit their highest level since December-2015 high of $70.37 per barrel.

U.S. WTI crude futures traded at $64.25 per barrel, 28 cents or 0.4 percent higher from their last close. WTI hit their highest level since December, 2014 at $64.89 per barrel.

According to traders, prices have been lifted by reports that Nigeria's rebel group Niger Delta Avengers threaten to attack the nation's oil sector in the next few days.

Markets also received support from a decline in crude inventories. U.s. crude inventories declined by 5.1 million barrels in the latest week to 411.5 million, according to API.

Despite the overall upbeat sentiment in the markets, analysts warned that the recent rally, which has raised crude by around 14 percent since early December, may be on the verge of a correction.

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IFX Gertrude
post Jan 19 2018, 05:42 AM
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U.S. Inflation Expectations Jumps to Highest Level Since 2014



A significant market measure of inflation expectations has increased to its strongest level since 2014, as investors' deliver solid demand to purchase protection against the threat of rising interest rates and dropping bond prices.

The 10-year break-even rate, a market measure of inflation expectations derived from Treasury Inflation Protected Securities, has increased to 2.09 percent, it's highest level since September 2014 when oil prices were collapsing. The impact of oil prices on break-evens is strong, with analysts attributing at least part of the recent rise in inflation expectations to rising oil prices.

At a $13 billion auction of TIPS on Thursday, primary dealers — responsible for bidding on a pro rata share of the auction to ensure the sale of the debt — walked away with a smaller than average share of the securities, as other investors came in aggressively to buy.

The 10-year Treasury yield has increased 20 basis points so far this year to 2.6 percent on Thursday, closing in on its 2017 high of 2.63 percent.

The strong demand for TIPS showed a growing belief that price pressure is building from improving global demand and pushing domestic inflation to the Federal Reserve's 2 percent target.

Improving business activity around the world has supported oil and other commodity prices, reinforcing the view of rising inflation, analysts said.

The ratio of bids to the amount of 10-year TIPS offered was 2.69, which was the highest reading since May 2014.

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IFX Yvonne
post Jan 22 2018, 08:04 AM
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Gold Stable amid U.S. Government Shutdown Worries



Gold prices were on a steady footing on Monday amid a weaker dollar as the U.S. government shutdown due to a spending-bill impasse affected investor sentiment.

Spot fold was almost trading flat at $1, 331.57 per ounce. U.S. gold futures were up 0.1 percent at $1, 331.30. Holdings of SPDR Gold Trump increased 0.70 percent to 846.67 tonnes.

Meanwhile, the dollar index, which gauges to greenback versus a basket of currencies declined by as much as 0.5 percent to 90.155.

Funds for federal government agencies have run dry at midnight on Friday and was not replenished immediately amid a dispute between U.S. President Donald Trump and Democrats over the issue of immigration. Leaders of the Republican and Democratic senators held talks on Sunday as they look to break a deadlock that has kept the U.S. government shut down for two days. However, it was vague if an agreement could be reached to reopen federal agencies by the beginning of the workweek.

Another factor contributing to the bullishness of the gold was data from the U.S. Commodity Futures Trading Commission, which showed that hedged funds and money managers had increased their net long position in COMEX gold contracts in the week ending January 16.

Spot silver traded up 0.1 percent to$17.01. Platinum declined 0.1 percent to $1,011.65 after hitting its highest since September 8 at $1, 015.20 on Friday.



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IFX Gertrude
post Jan 23 2018, 05:14 AM
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COLOMBIA: Colcap Trades 0.29% Higher Boosted By Ecopetrol



Colcap, the main index of the Colombian Stock Exchange, rose 0.29% near the end of Monday's trade, moving at 1,555.54 points, boosted by a rally in Ecopetrol's shares, amid higher oil prices, said Marcela Ram?rez, an analyst at Acciones & Valores.

The shares of Ecopetrol (+5.07%), ETB (+1.97%), and Davivienda (+0.98%) rose, while Preferencial Bancolombia (-1.35%) and Cemargos (-1.03%) fell.

The locally traded. U.S. dollar closed at 2,852.45 Colombian pesos, marking a 0.11% rise.

Wilson Tovar, an analyst at Acciones & Valores, noted that the greenback lost ground at the beginning of the week after investors evaluated the impact of the partial closure of the United States government.

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IFX Gertrude
post Jan 23 2018, 05:43 AM
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Canada Wholesale Trade Climbs in November



The value of Canadian wholesale trade increased for the second consecutive month in November on gains across sectors, which includes the food and vehicle industries, according to Statistics Canada data.

Wholesale transactions climbed 0.7 percent on a seasonally adjusted basis in November to 63.55 billion Canadian dollars ($51.01 billion), while volumes increased 0.5 percent. October's sales were revised slightly higher to 1.6 percent from the previously reported 1.5 percent.

On a 12-month basis, wholesale trade in Canada increased 10.8 percent on nominal terms.

Wholesale trade increased in six out of seven sectors in November, accounting for 99 percent of sales and led by a 1.9 percent rise in the food, beverage and tobacco industry.

The motor vehicle sector advanced for the fourth time in five months, climbing 0.7 percent, on higher sales of new vehicle parts and accessories. Canadian auto sales topped the 2 million mark last year for the first time as consumers bought light trucks.

Inventories dropped 1.2 percent, the first decline in eight months amid decreases in the machinery and equipment, and vehicle sectors.

Canada's annual inflation rate is expected to have fallen marginally in December but still remains near the Bank of Canada's 2 percent target. Analysts will watch the three measures of underlying core inflation to gauge how quickly the central bank may raise interest rates again.

The Canadian dollar was trading at C$1.2453 to the greenback, or 80.30 U.S. cents, up 0.3 percent.

The currency traded in a range of C$1.2435 to C$1.2520. Since the beginning of 2018, the range has been C$1.2355 to C$1.2590.

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IFX Gertrude
post Jan 24 2018, 03:23 AM
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Japan December Trade Surplus Y358.971 Billion



Japan posted a merchandise trade surplus of 358.971 billion yen in December, the Ministry of Finance said on Wednesday - down 43.5 percent on year.

The headline figure was shy of expectations for a surplus 520.0 billion yen following the 113.4 billion yen surplus in November.

Exports climbed 9.3 percent on year to 7.302 trillion yen, also missing forecasts for a gain or 9.8 percent and down from 16.2 percent in the previous month.

Exports to Asia advanced 9.9 percent on year to 4.111 trillion yen, while exports to China alone jumped an annual 15.8 percent to 1.507 trillion yen.

Exports to the United States gained 3.0 percent on year to 1.411 trillion yen and exports to the European Union jumped an annual 11.4 percent to 792.213 billion yen.

Imports advanced an annual 14.9 percent to 6.943 trillion yen versus expectations for a gain of 12.4 percent and down from 17.2 percent a month earlier.

Imports from Asia climbed 15.7 percent on year to 3.379 trillion yen, while imports from China alone gained an annual 14.8 percent to 1.704 trillion yen.

Imports from the United States were up 7.5 percent to 699.419 billion yen, while imports from the European Union gained 9.8 percent to 786.388 billion yen.

Also on Wednesday, the latest survey from Nikkei said that the manufacturing sector in Japan continued to expand in January, and at an accelerated rate, with a manufacturing PMI score of 54.4.

That's up from 54.0 in December, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

Individually, output expanded at the quickest rate in 47 months, while new orders continued to rise sharply.

Inflationary pressures intensified.

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IFX Gertrude
post Jan 24 2018, 04:02 AM
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Nasdaq, S&P End at Record Peaks; Dow Weighed Down by J&J, Procter



U.S. stocks rose on Tuesday, as solid results from Netflix helped boost the S&P and Nasdaq Composite. However, losses in Johnson & Johnson and Procter & Gamble added pressure on the Dow Industrials.

The Nasdaq composite ended at a record peak, rising 0.7 percent to 7,460.29. The S&P 500 also closed at an all-time peak, gaining 0.2 percent at 2,839.13, as the corporate earnings season continued. The Dow Jones industrial average notched an intraday record, before closing 3.79 points lower at 26,210.81.

Video streaming giant Netflix after the close announced that total net adds reached 8.33 million, well above a StreetAccount estimate of 6.39 million. Netflix's stock jumped ten percent, lifting the company's market cap above $100 billion for the first time.

Dow components Johnson & Johnson, Procter & Gamble and Travelers Cos. all posted better-than-expected earnings and revenue on Tuesday. Verizon, another Dow component, posted a profit that fell short of expectations, while sales exceeded analyst estimates.

Other stocks, known as part of the “FAANG” - Facebook, Apple, Amazon and Google parent Alphabet - also moved higher.

Insurer Travelers provided the biggest boost to the Dow, climbing 5.32 percent after the company's profit topped estimates.

Equities are off to a strong start for the year, with the three major indexes rising at least 6 percent in January. Stocks are building on the strong gains made in 2017.

Whirlpool jumped 3.2 percent after Trump approved a 20 percent tariff on the first 1.2 million imported large residential washing machines in the first year and a 50 percent tariff on machines above that number.

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IFX Gertrude
post Jan 25 2018, 05:14 AM
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BRAZIL: Ibovespa Spikes 3.7% And Sets New Record Following Lula Conviction



Ibovespa, the benchmark stock market index in Brazil, rose 3.72% to 83,680 points Wednesday, a new settlement record amid a R$ 15.69 billion trading volume - nearly twice the average.

The rally was the result of a higher court unanimously upholding former president Lula's conviction for corruption and money laundering, which may reduce the chances of the center-left leader competing in this year's election.

"The markets have reacted positively to Lula's trial. The conviction lessens the likelihood of him becoming a presidential candidate, and this reinforces the expectation that a more centrist candidate be elected," said Guide Investimentos analyst Ign?cio Crespo.

According to chief economist of Gradual Investimentos, Andr? Perfeito, "we will still have many developments in Lula's campaign to become a presidential candidate. Today's episode may have been dramatic, but it is far from definitive."

In the conviction, the three judges increased the former president's prison sentence for 12 years and a month and indicated that he could be arrested after all the resources have been exhausted in TRF4. According to H. Commcor's chief operating officer, Ari Santos, the result was "predictable," but encouraged the markets.

The locally traded U.S. dollar reached minimum levels in the year against the Brazilian after Lula's conviction in the second instance. The greenback fell 2.43%, closing at R$ 3.1600, after reaching the intraday low of R$ 3.1530 (-2.73%).

For Friday, Santos projects that the index may fall into a profit-taking movement. For Crespo, however, the index may remain positive.

"The scenario remains optimistic for Brazil in the short and medium term," says the analyst.

The Ibovespa will remain closed Thursday for a local holiday.

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IFX Gertrude
post Jan 25 2018, 05:53 AM
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UK Employment Notched Record Peaks



Employment in Britain increased in the three months to the end of November, surpassing analysts expectations as pressure on employers to find skilled staff seems to have pushed up wages.

The number of people in work grew by 102,000 compared with the previous three months, bringing the number of people employed to 32.21 million, a fresh record peak. Analysts had forecasted a decline of 13,000.

The jobless rate was 4.3 percent over the three month period.

The employment rate, which measures the proportion of 16- to 64-year-olds in work, reached 75.3 percent, a figure that was higher than for a year earlier and the joint highest since comparable records began in 1971.

The UK labour market has created large numbers of jobs since the financial crisis but has struggled to generate real wage growth. Many of the jobs created have also been part time or self-employed.

However, the latest figures show an increase in the number of full time jobs, with the number of self-employed falling by 82,000.

Average weekly earnings were 2.5 percent higher than the previous year, including bonuses, and 2.4 percent higher excluding bonuses. That compares with 2.5 percent and 2.3 percent respectively during the previous three month period.

The Office for National Statistics, which produces the figures, calculates that this means real earnings dropped by 0.2 percent over the past year, including bonuses, and by 0.5 percent without them.

According to the ONS, the number of job vacancies increased to a record peak of 810,000 in the three months to the end of October.

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IFX Gertrude
post Jan 26 2018, 05:16 AM
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BoJ Minutes: Japan Economy Expected To Continue Expansion



Members of the Bank of Japan's Monetary Policy Board said that Japan's economy is expanding moderately and should continue to do so, minutes from the bank's December 20-21 meeting revealed on Friday.

"The Bank will make policy adjustments as appropriate, taking account of developments in economic activity and prices as well as financial conditions, with a view to maintaining the momentum toward achieving the price stability target," the minutes said

At the meeting, the central bank decided to maintain the -0.1 percent interest rate on current accounts that financial institutions maintain at the bank.

It also voted to maintain its aggressive monetary easing, as inflation remains well below the 2 percent target. The bank will hold its target of raising the amount of outstanding JGB holdings at an annual pace of about JPY 80 trillion.

The bank will purchase government bonds so that the yield of 10-year JGBs will remain at around zero percent.

"The year-on-year rate of change in the CPI for all items less fresh food was in the range of 0.5-1.0 percent, while the rate of change for all items less fresh food and energy remained slightly positive," the minutes said.

The board also noted that inflation expectations are in a weakening phase, although prices are expected to maintain an upward trend over the longer term.

The bank added that private consumption has been increasing moderately and business fixed investment continued an increasing trend with corporate profits and business sentiment improving.

"With regard to the outlook, the year-on-year rate of change in the CPI (all items less fresh food) was likely to continue on an uptrend and increase toward 2 percent, mainly on the back of an improvement in the output gap and a rise in medium- to long-term inflation expectations," the minutes said.

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IFX Gertrude
post Jan 26 2018, 05:42 AM
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Japan Inflation Steady in December



Japan's key price gauge increased at the same pace in December as in November, highlighting challenges for the Bank of Japan as it attempts to get faster inflation toward its ambitious 2 percent target.

The core consumer price index, which excludes fresh food prices but leaves in fuel costs, reached a year-on-year rise of 0.9 percent in December, according to Japan's Statistics Bureau. That brought core inflation to 0.5 percent for the whole of 2017.

The recent stability for the core inflation rate was supported by year-on-year growth of 5.2 percent in the cost of fuel, light and water and 1.6 percent growth in the cost of medical care.

Headline inflation increased one percent year on year, up from 0.6 percent in November, while core-core inflation - excluding both fresh food and fuel and energy costs - was unchanged from November with a growth of 0.3 percent.

The continued weakness supports the outlook that the BOJ will keep its stimulus program unchanged.

Some BOJ board members are already starting to get nervous about keeping policy loose for a prolonged period, claiming they saw room to hike rates or slow purchases of risky assets if the recovery continues, minutes of the December rate review showed.

Japan's economy grew for the seventh consecutive quarter in July-September, its longest uninterrupted stretch of expansion since 1994, on booming exports and an acceleration in consumption.

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IFX Gertrude
post Jan 29 2018, 04:55 AM
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Aussie Rally Brings Out the Bears



The Australian dollar's recent rally in 18 months is bringing out the bears.

The Aussie is on track to go into reverse as the Federal Reserve keeps hiking interest rates, while the Reserve Bank of Australia leaves borrowing costs at a record low, according to James Athey at Aberdeen Standard Investments in London, who is adding to his short positions.

Schroder Investment Management Australia Ltd., which is also short, said the Aussie is likely to trade closer to 70 U.S. cents than 80 cents in 12 months.

The Australian dollar has increased for seven consecutive weeks as the U.S. dollar has dropped while growing prices for commodities like iron ore have supported the outlook for Australia's exports.

Aberdeen and Schroder expect the RBA to likely leave its benchmark at 1.5 percent this year as debt-laden households struggle with stagnant wages and inflation at the lower end of the central bank's 2-to-3-percent target. Swaps traders are placing wagers that policy makers will tighten in the second half of 2018.

The Aussie rose to 81.36 U.S. cents on Friday, the highest since May 2015. It was little changed Monday at 81.14 cents.

Options traders are the most bearish on the Aussie among developed-market currencies, six-month risk reversals show. The premium investors paid for options giving the right to sell the Aussie against the U.S. dollar, over those to buy, was about 47 basis points. The gauge of bearishness has dropped from 165 basis points a year ago.

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IFX Gertrude
post Jan 29 2018, 06:46 AM
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Singapore Producer Prices Fall In December



Singapore's producer prices declined for the first time in one year in December, figures from the Department of Statistics showed Monday.

The manufactured product price index dropped 0.6 percent year-over-year in December, reversing a 2.9 percent rise in November.

Producer prices climbed 3.8 percent in the whole year 2017, in contrast to a 5.5 percent decrease in 2016.

The domestic supply price index rose 0.6 percent annually in December, while it edged down 0.2 percent from a month ago.

On a monthly basis, producer prices increased 0.8 percent in December, extending the 1.1 percent rise in November.

Data also revealed that import prices slid 0.5 percent yearly in December, following a 4.1 percent climb in the preceding month.

Export prices declined 2.4 percent in December over the prior year, after a 0.8 percent rise in November.

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IFX Gertrude
post Jan 30 2018, 05:33 AM
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Japan Labor Demand Grew in December



Labor demand in Japan increased in December to its highest in over 40 years, which could provide labor unions extra leverage in impending spring wage negotiations.

The jobs data implies that employers may be more likely to heed the government's call to increase wages by three percent or more at annual negotiations with unions this spring, boosting the chance that consumer spending and inflation will accelerate.

The jobs-to-applicants ratio climbed to 1.59 from 1.56 in November, which is the highest since January 1974.

The seasonally adjusted jobless rate rose to 2.8 percent from 2.7 percent in November, according to the Internal Affairs ministry. Economists' median forecast was for the jobless rate to remain at 2.7 percent, the lowest since November 1993.

Retail sales grew in December by the most in nearly three years on higher spending on cars and clothes, separate data showed, which could ease concerns about a sudden drop in household spending in the same month.

Sales were 3.6 percent higher in December from the previous year, compared with a median market forecast for a 1.8 percent rise. That also recorded the biggest increase since a 4.9 percent annual increase in April 2015.

Japanese household spending, which is different from retail sales because it is based on surveys sent to a small sample of consumers, dropped 0.1 percent in December from a year earlier in price-adjusted real terms.

Japan marked seven consecutive quarters of economic growth to end-September, its longest uninterrupted stretch of expansion since 1994.

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IFX Gertrude
post Jan 30 2018, 06:41 AM
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European Economics Preview: Eurozone GDP Data Due



Quarterly national accounts and economic confidence from euro area are due on Tuesday, headlining a light day for the European economic news.

At 1.30 am ET, France's GDP data is due. The economy is expected to grow 0.6 percent in the fourth quarter. At 2.00 am ET, Swiss foreign trade data for December is due.

At 3.00 am ET, GDP from Spain and unemployment from Hungary are due. Spain's GDP is forecast to grow 0.7 percent sequentially in the fourth quarter, slower than the 0.8 percent increase seen in the third quarter.

At 4.00 am ET, Italy's business and consumer confidence survey results are due. The consumer sentiment index is forecast to rise marginally to 116.7 in January from 116.6 in the previous month.

At 4.30 am ET, the Bank of England is set to issue mortgage approvals data. The number of mortgages approved in December is seen at 63,500 compared to 65,100 in November.

At 5.00 am ET, Eurostat is scheduled to issue euro area GDP data. The currency bloc is forecast to grow 0.6 percent sequentially in the fourth quarter.

In the meantime, European Commission publishes economic confidence survey data. Economists forecast the economic sentiment index to rise to 116.2 in January from 116.0 in December.

At 8.00 am ET, Germany's flash consumer price data is due. Inflation is seen at 1.7 percent in January, the same rate as seen in December.

In the meantime, Hungary's central bank announces its interest rate decision. The bank is expected to keep its key rate unchanged at 0.90 percent.

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IFX Gertrude
post Jan 31 2018, 03:27 AM
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COLOMBIA: Colcap Trades 1.34% Lower Due To Ecopetrol's Underperformance



Colcap, the main index of the Colombian Stock Exchange, fell 1.34% to 1,576.89 points near to the closing of Tuesday's session, due to the fall in Ecopetrol's shares.

Erika Baquero, an analyst at Alianza Valores, noted that the state-owned oil company was influenced by the decline in oil prices abroad.

The shares of Canacol (+0.20%) are rising, while Ecopetrol (-3.06%), Promigas (-3.04%), Sura (-1.73%), and Avianca (-1.37%) trade lower.

The locally traded U.S. dollar closed at 2,851.15 Colombian pesos, marking a 0.47% rise due to the drop in oil prices abroad.

Ramses Pestanapalmett, an analyst at Ultraserfinco, noted that the commodity falls due to the increase in exploratory activities in the United States and Canada, which values the U.S. currency against emerging currencies such as the Colombian peso.

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IFX Gertrude
post Jan 31 2018, 04:39 AM
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German Inflation Slowed in January



German inflation slowed in January, propelled by a weaker rise in energy prices, data showed, lending support to the European Central Bank's cautious approach to reducing its monetary stimulus only gradually.

Consumer price inflation slowed to 1.4 percent on the year in January, according to preliminary data from the Federal Statistics Office.

The rate follows a month-on-month drop of one percent from December 2017, on an EU-harmonised basis, Destatis added, and implies that the rising euro is damping down prices.

ECB chief Mario Draghi recently pushed back on rate hike speculations, arguing there was almost no chance of a move this year, even as some investors were betting on a hike as early as December.

For the month, consumer prices dropped 1.0 percent, below the 0.7 percent decline expected by analysts.

Lower energy inflation made the largest contribution to the weaker headline figure while food inflation picked up, the office said.

According to Carsten Brzeski, chief economist for Germany at ING, the figures “should ease the recent hysteria in markets about a possible inflation surge and changes to the ECB's monetary policy stance”.

The statistics office did not provide a preliminary reading for German core inflation.

However, Commerzbank analyst Marco Wagner said that core inflation probably remained unchanged in January and that he expected this key measure to rise in the coming months.

The German government expects national consumer price inflation to slow to 1.7 percent this year from 1.8 percent in 2017, despite raising its 2018 growth forecast to 2.4 percent from 1.9 percent previously, a government document showed.

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IFX Gertrude
post Feb 1 2018, 03:26 AM
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China Manufacturing PMI Holds Steady In January - Caixin



The manufacturing sector in China continued to expand in January, and at a steady pace, the latest survey from Caixin showed on Thursday with a Manufacturing PMI score of 51.5.

That was in line with expectations and unchanged from the December reading.

It also remained above the boom-or-bust line of 50 that separates expansion from contraction.

Individually, growth was supported by further, albeit slightly softer, increases in total new work and new export sales.

Higher production requirements led firms to increase their buying activity, while employment fell at the weakest pace in nearly three years.

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IFX Gertrude
post Feb 1 2018, 04:02 AM
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UK Consumer Morale Improves in January



UK consumers began 2018 in a less downbeat mood as Brits reported improved confidence in their financial situation for the coming year, according to a survey.

Research house GfK's consumer confidence index increased by 4 points to -9 in January.

The score reflects an improvement in consumers' views on their personal financial situation over the past 12 months as well as improved expectations for the year ahead. Consumer views of the U.K.'s economic situation in the past year and in the coming 12 months also improved.

All five measures used to calculate the index increased in January as the demand for major purchases, like furniture or washing machines, saw the biggest rise, climbing by five points to one. The index tracking the personal financial situation over the next 12 months increased to six from two in December while the outlook for the general economy edged higher to -24 from -28 in the previous month.

However, Joe Staton, head of market dynamics at GfK, cautioned that the headline measure of consumer confidence remained in negative territory and was lower than at the same time in 2016, when it stood at -5.

"In the absence of good news about rising wages and declining inflationary pressures, this off-trend number could be a temporary blip rather than a strong sign of recovery," Staton said.

Inflation stood at three percent in December, close to the quickest in nearly six years. Wage growth has failed to keep pace with the acceleration, fueled by the pound's drop in 2016. It may ease this year, and sterling's recent appreciation could help.

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IFX Gertrude
post Feb 2 2018, 03:08 AM
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Australia Producer Prices Climb 0.6% In Q4



Final demand producer prices in Australia were up 0.6 percent on quarter in the fourth quarter of 2017, the Australian Bureau of Statistics said on Friday - following the 0.2 percent gain in the three months prior.

The increase was mainly due to rises in the prices received for petroleum refining and petroleum fuel manufacturing (+11.9 percent), heavy and civil engineering construction (+0.7 percent) and building construction (+0.4 percent).

They were partly offset by falls in the prices received for sugar and confectionery manufacturing (-3.9 percent), tobacco product manufacturing (-3.8 percent) and sheep, beef cattle and grain farming; and dairy cattle farming (-3.6 percent).

On a yearly basis, producer prices jumped 1.7 percent - up from 1.6 percent in Q3.

Intermediate demand producer prices were up 1.2 percent on quarter and 3.1 percent on year, while preliminary demand producer prices advanced 1.3 percent on quarter and 3.0 percent on year.

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