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Forex Forex News from InstaForex

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

  1. InstaForex Gertrude

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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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  7. InstaForex Gertrude

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    China Manufacturing PMI 52.0 In March

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    The manufacturing sector in China moved back into expansion in March, the latest survey from the National Bureau of Statistics said on Tuesday with a manufacturing PMI score of 52.0 - beating forecasts for 45.0.

    That's up sharply from 35.7 in February, and it moves back above the boom-or-bust line of 50 that separates expansion from contraction.

    The non-manufacturing PMI came in at 52.3, also exceeding expectations for 42.0 and up from 29.6 in the previous month.

    The composite PMI posted a score of 53.0, up from 28.9 a month prior.

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  8. InstaForex Gertrude

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    China Manufacturing PMI 52.0 In March

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    The manufacturing sector in China moved back into expansion in March, the latest survey from the National Bureau of Statistics said on Tuesday with a manufacturing PMI score of 52.0 - beating forecasts for 45.0.

    That's up sharply from 35.7 in February, and it moves back above the boom-or-bust line of 50 that separates expansion from contraction.

    The non-manufacturing PMI came in at 52.3, also exceeding expectations for 42.0 and up from 29.6 in the previous month.

    The composite PMI posted a score of 53.0, up from 28.9 a month prior.

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  9. InstaForex Gertrude

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    Contraction Accelerates For Vietnam Manufacturing Sector

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    The manufacturing sector in Vietnam continued to contract in March, and at a faster rate, the latest survey from IHS Markit revealed on Wednesday with a manufacturing PMI score of 41.9.

    That's down from 49.0 in February and it slips further beneath the boom-or-bust line of 50 that separates expansion from contraction.

    Individually, last month saw the sharpest declines in output, new orders and employment in survey history. Business confidence tumbled, while firms scaled back purchasing and inventory holdings.

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  10. InstaForex Gertrude

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    South Korea Inflation Data Due On Thursday

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    South Korea will on Thursday release March numbers for consumer prices, highlighting a modest day for Asia-Pacific economic activity. In February, overall inflation was flat on month and up 1.1 percent on year, while core CPI added 0.1 percent on month and gained 0.5 percent on year.

    Japan will provide March figures for monetary base; in February, the monetary base climbed 3.6 percent on year.

    Australia will see February figures for job vacancies; in January, vacancies were up 1.6 percent on month.

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  11. InstaForex Gertrude

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    Singapore Retail Sales Decrease In February

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    Singapore retail sales decline at the fastest pace in February, data from the Department of Statistics showed on Friday.
    Retail sales declined 8.6 percent year-on-year in February, following a 5.3 percent fall in January.
    Motor vehicle sales rose 1.3 percent annually in February, following a 33.6 percent fall in the previous month.
    Excluding motor vehicles, retail sales decreased 10.2 percent in February, after a 0.6 percent increase in the preceding month.
    Sales of wearing apparel and footwear declined the most by 41.0 percent in February and those of food and alcohol, and department stores decreased 40.5 percent and 36.3 percent, respectively.
    On a monthly basis, retail sales dropped 8.9 percent in February, after a 0.2 percent rise in the prior month.

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  12. InstaForex Gertrude

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    Australia Inflation Forecast Due On Monday

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    Australia will on Monday see the March inflation forecast from TD Securities, highlighting a light day for Asia-Pacific economic activity. In February, the forecast suggested a decline of 0.1 percent on month and an increase of 1.6 percent on year.
    Australia also will see March data on job advertisements from ANZ; in February, job ads were up 0.7 percent on month.
    New Zealand will see March figures for commodity prices from ANZ; in February, prices were down 2.1 percent on month.
    Finally the markets in China and Thailand are closed on Monday for the Qingming Festival and Chakri Day, respectively; they will re-open on Tuesday.

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  13. InstaForex Gertrude

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    Estonia Inflation Eases In March

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    Estonia's consumer price inflation eased in March, data from Statistics Estonia showed on Monday.
    The consumer price index rose 0.9 percent year-on-year in March, after a 2.0 percent increase in February. In January, inflation was 1.6 percent.

    Inflation was mainly affected the most by more expensive food and non-alcoholic beverages. Electricity were cheaper, while petrol and diesel fuel were more expensive, the agency reported.
    On a monthly basis, consumer prices dropped 0.7 percent in March, after a 0.5 percent rise in the previous month.

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  14. InstaForex Gertrude

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    Estonia Inflation Eases In March

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    Estonia's consumer price inflation eased in March, data from Statistics Estonia showed on Monday.

    The consumer price index rose 0.9 percent year-on-year in March, after a 2.0 percent increase in February. In January, inflation was 1.6 percent.
    Inflation was mainly affected the most by more expensive food and non-alcoholic beverages. Electricity were cheaper, while petrol and diesel fuel were more expensive, the agency reported.

    On a monthly basis, consumer prices dropped 0.7 percent in March, after a 0.5 percent rise in the previous month.

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  15. InstaForex Gertrude

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    S&P Lowers Australia's Rating Outlook To Negative

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    S&P Global Ratings revised the outlook on Australia's rating outlook to negative from stable as coronavirus, or COVID-19, outbreak weakened its fiscal outlook.
    The rating agency said the negative outlook reflects a substantial deterioration of Australia's fiscal headroom at the 'AAA' rating level.
    The outbreak of coronavirus has posed a severe economic and fiscal shock. The Australian economy is set to plunge into recession for the first time in almost 30 years, causing a substantial deterioration of the government's fiscal headroom at the 'AAA' rating level.
    Nonetheless, the ratings were affirmed at 'AAA'. S&P observed that the triple A rating on Australia benefit from the country's strong institutional settings, its wealthy economy, and monetary policy flexibility.

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  16. InstaForex Gertrude

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    BoK Rate Decision On Tap For Thursday

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    The Bank of Korea will wrap up its monetary policy meeting on Thursday and then announce its decision on interest rates, highlighting a light day for Asia-Pacific economic activity.

    The BoK is expected to keep its benchmark lending rate unchanged at the record low of 0.75 percent after the central bank's emergency cut last month of 50 basis points to deal with the Covid-19 crisis.

    Japan will see March results for its consumer confidence index, with forecasts suggesting a score of 35.0 - down from 38.4 in February.

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  17. InstaForex Gertrude

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    Japan Overall Bank Lending Rises 2.0% In March

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    Overall bank lending in Japan was up 2.0 percent on year in March, the Bank of Japan said on Friday - coming in at 546.248 trillion yen.
    That follows the 2.1 percent yearly increase in February.

    Excluding trusts, bank lending rose an annual 2.2 percent to 476.139 trillion yen after gaining 2.2 percent in the previous month.
    Lending from trusts was steady at 1.0 percent, worth 70.109 trillion yen, while lending from foreign banks skyrocketed an annual 28.5 percent to 3.655 trillion yen.

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  18. InstaForex Gertrude

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    Malaysia Industrial Production Rises In February

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    Malaysia's industrial production grew at a faster-than-expected pace in February, data from the Department of Statistics showed on Monday.
    Industrial production rose 5.8 percent year-on-year in February, following a 0.6 percent increase in January. Economists had expected a 0.7 percent rise.
    Manufacturing output grew 5.6 percent in February, following a 2.2 percent rise in the previous month.
    Among other sectors, mining and quarrying output increased 6.1 percent and electricity output rose 6.8 percent.
    Sales of textile, wearing apparels, leather and footwear gained 6.7 percent and those of petroleum, chemical, rubber and plastic, and wood, furniture, paper products and printing grew by 6.3 percent, each.

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  19. InstaForex Gertrude

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    Malaysia Jobless Rate Rises In February

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    Malaysia's unemployment rate rose in February, data from the Department of Statistics showed on Tuesday.
    The jobless rate rose to 3.3 percent in February from 3.2 percent in January. A similar rate of unemployment was seen in the same month last year.
    On a seasonally adjusted basis, jobless rate rose marginally to 3.3 percent in February from 3.2 percent in the previous month.
    The number of unemployed increased to 525,200 in February from 511,700 in the previous month.
    The number of employed increased to 15.34 million in February from 15.31 million in the prior month.

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  20. InstaForex Gertrude

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    Australia Consumer Sentiment Logs Record Fall

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    Australia's consumer confidence declined the most on record in April after the coronavirus outbreak evolved from serious concern to full-blown pandemic, survey data from Westpac showed on Wednesday.
    The Westpac-Melbourne Institute Index of Consumer Sentiment plunged 17.7 percent to 75.6 in April from 91.9 in March.

    This was the biggest monthly decrease in forty seven year history of the survey, taking the indicator beyond the global financial crisis lows.

    The survey reflects the large shocks to jobs and spending. Moreover, there was a collapse in confidence in the housing market.

    All five component sub-indexes fell in April. The biggest falls were in the near term outlook for the economy and in attitudes towards spending - reflecting the immediate effects of the shut-down, Westpac noted.

    The indicator measuring past family finances decreased 14.8 percent to an eight-year low of 70.4 and the outlook for family finances slid 6.6 percent to 90.9.

    The 'economy, next 12 months' sub-index logged a record fall of 31 percent to 53.7 in April. At the same time, the index measuring the outlook for long-term, say five years, dropped moderately by 3.8 percent to 87.0 in April.

    Further, the 'time to buy a major household item' plunged 31.6 percent to 76.2 in April. This was the lowest reading since the record low of 71 set in October 2008.

    The Westpac-Melbourne Institute Unemployment Expectations Index jumped 8.2 percent in April following the sharp 8.5 percent increase in March. At 158.1, the index was at a five year high. RSS feed

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