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Forex Forex News from InstaForex

Discussion in 'Forex Forum' started by InstaForex Gertrude, Sep 5, 2015.

  1. InstaForex Gertrude

    InstaForex Gertrude Member

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    New Zealand Credit Card Spending Falls In February

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    New Zealand's credit card spending declined in February after rising in the previous month, figures from Reserve Bank of New Zealand showed on Friday.
    Credit card spending fell 0.6 percent month-on-month in February, after a 1.2 percent increase in January. In December, credit card spending had fallen 0.9 percent.
    Domestic billing decrease 0.3 percent monthly to NZ$3.296 billion and overseas billings rose 4.0 percent to NZ$398 million.
    On a year-on-year basis, overall credit card spending increased 2.5 percent in November, following a 3.7 percent rise in the previous month.

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  2. InstaForex Gertrude

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    New Zealand Ramps Up Stimulus To Combat Covid-19 Impact

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    The New Zealand government on Monday announced further support for the economy as the country prepares for the Alert Level 4 in the fight against covid-19.

    The central bank has decided to implement NZ$30 billion asset purchase programme as the negative economic implications of the coronavirus outbreak continued to intensify.

    The cabinet agreed to remove the cap on the wage subsidy scheme, which will inject a further NZ$4 billion into the economy over the next eleven weeks.

    The changes mean the forecast cost of the wage subsidy scheme is being lifted to NZ$9.3 billion Finance Minister Grant Robertson, said. This assumes 50 percent of businesses access the scheme.

    The government, central bank and retail banks have agreed in principle to significant temporary support for mortgage holders and a business finance guarantee scheme for those impacted by COVID-19.
    The cabinet agreed to freeze all rent increases and to look to extend no-cause terminations to protect people during this difficult time.

    "Like the rest of the world, we are facing the potential for devastating impacts from this virus," Prime Minister Jacinda Ardern, said. "But, through decisive action, and through working together, we have a small window to get ahead of it."

    The monetary policy committee of the Reserve Bank of New Zealand decided to implement a Large Scale Asset Purchase programme (LSAP) of government bonds.

    The central bank will buy up to NZ$30 billion of government bonds in the secondary market over the next twelve months.

    The bank said it will monitor the effectiveness of the programme and make adjustments and additions if needed.

    Last week, the central bank had cut its interest rate by 75 basis points to 0.25 percent.

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  3. InstaForex Gertrude

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    Japan Manufacturing Sinks To 44.8 In March - Nikkei

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    The manufacturing sector in Japan continued to contract, and at a faster pace, the latest survey from Nikkei revealed on Tuesday with a preliminary manufacturing PMI score of 44.8.
    That's down from 47.8 in February, and it moves further beneath the boom-or-bust line of 50 that separates expansion from contraction.

    The services PMI from Jibun Bank was even more troubling as it plummeted all the way down to 32.7 in March from 46.8 in February - largely reflecting the chaos wrought by the global COVID-19 pandemic.
    That dragged the composite PMI down to 35.8 from 47.0 a month earlier.

    Among the individual components, output, new orders, new export orders, backlogs, stocks of purchases and quantities of purchases all saw stronger rates of decline. Employment fell into contraction after expanding in the previous month.

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  4. InstaForex Gertrude

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    Malaysia Inflation Slows In February

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    Malaysia's consumer price inflation slowed in February, figures from the Department of Statistics showed on Wednesday.

    The consumer price index rose 1.3 percent year-on-year in February, after a 1.6 percent increase in January. Economists had expected a 1.4 percent rise.

    Among the main groups, prices for miscellaneous goods and services grew 2.5 percent annually in February. Prices for transport rose 2.4 percent and those of housing, water, electricity, gas and other fuels, and communication increased 1.6 percent and 1.5 percent, respectively.

    On a month-on-month basis, consumer prices remained unchanged in February.
    The core CPI rose 1.3 percent annually in February.

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  5. InstaForex Gertrude

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    European Economics Preview: Bank Of England Rate Decision Due

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    The interest rate announcement from the Bank of England is due on Thursday, headlining a busy day for the European economic news.
    At 3.00 am ET, the Office for National Statistics releases UK retail sales data for February. Economists forecast sales to grow 0.2 percent on month, following a 0.9 percent increase in January.
    Also, Germany Gfk consumer confidence survey data is due. The forward-looking consumer sentiment index is seen at 7.1 in April versus 9.8 in March.
    At 4.00 am ET, the Swedish National Institute of Economic Research is set to issue economic tendency survey data.
    Half an hour later, Sweden foreign trade data is due from Statistics Sweden.
    At 5.00 am ET, the European Central Bank is set to issue economic bulletin and money supply data. Economists forecast euro area M3 growth to remain unchanged at 5.2 percent in February.
    At 8.00 am ET, the Bank of England publishes the outcome of the monetary policy meeting. Economists expect the bank to retain its record low interest rate and to expand asset purchase programme to GBP 635 billion from GBP 435 billion.
    In the meantime, the Czech National bank announces its monetary policy decision. The two-week repo rate is likely to be lowered to 1.25 percent from 1.75 percent.

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  6. InstaForex Gertrude

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    Tokyo Overall Inflation Gains 0.4% On Year In March

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    Overall consumer prices in the Tokyo region of Japan were up 0.4 percent on year in March, the Ministry of Communications and Internal Affairs said on Friday.

    That exceeded expectations for an increase of 0.3 percent and was unchanged from the February reading.
    Core CPI, which excludes volatile food prices, also advanced an annual 0.4 percent. That was in line with expectations and down from 0.5 percent in the previous month.

    On a seasonally adjusted monthly basis, overall inflation was up 0.1 percent and core CPI was unchanged.

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