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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 Active Member

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    Crypto market rallies as other risk assets plunge

    The world's most popular and largest cryptocurrency showed steady growth, trading bullish for the second session. The digital asset tested the February high of $45,000 and then tumbled along with US stock indices in the North American session.

    Institutional investors and crypto whales have been recently buying out digital gold, seeking alternative instruments amid the escalating conflict between Russia and Ukraine.

    Last week, cryptocurrency funds saw an inflow of assets worth $36 million, up by $239 million, according to CoinShares.

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    On Tuesday, BTC soared 5.3% to $43,900. Like the flagship cryptocurrency, popular altcoins were also on the rise with ether jumping 4.6%, Binance Coin and Avalanche adding 8%, and XRP rising 2.1%.

    The crypto market capitalization has climbed 3.9% to $2.01 trillion over the past 24 hours, CoinGecko, the world's largest cryptocurrency data aggregator, reported.

    Meanwhile, BTC dominance increased 0.5% to 41.4% as popular altcoins showed weaker growth. The bitcoin fear and greed index has swelled 31 points to 51 points over the past 24 hours.

    New sanctions against Russia targeting the country's financial institutions are named as the main driving force of virtual assets.

    On February 28, bitcoin gained more than 15% as the US Treasury imposed sanctions against Russia's Central Bank and froze its assets in the US. Many European states announced similar sanctions as well.

    Crypto experts say isolation of Russia's financial system may cause a decrease in the correlation between cryptocurrencies and other risk assets observed since early 2022. Thus, digital gold has recently been bullish despite a fall in other risk assets.

    Despite the tense geopolitical situation, this is a good time for the crypto market. To avoid financial losses, investors from Russia and Ukraine began to actively invest in decentralized currencies, in particular, bitcoin.

    A fall in fiat currencies became another positive factor for bitcoin. According to Binance, the cryptocurrency exchange, trading volumes between the Russian ruble and BTC and USDT have significantly increased.

    At the same time, US officials are increasingly worried Russia might use virtual assets to evade sanctions. They urged the leading cryptocurrency exchanges to block Russian users from their platforms amid concerns digital currencies are being used to mitigate tightening sanctions.

    Binance, KuCoin, Kraken, and AAX responded by saying they did not intend to unilaterally block the funds of Russians. Meanwhile, the Kraken online service said that they would be forced to start the blocking process if the regulator said to. The statements by the world's largest crypto exchanges instilled optimism in the crypto market and contributed to the strengthening of BTC.

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  2. InstaForex Gertrude

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    Apocalypse now: The threat of a second Chernobyl has sharply raised the price of gold

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    This morning, after a Russian attack, the Zaporizhzhia nuclear power plant, which is the largest in Europe, caught fire. Fear has reached a climax, causing the price of gold to soar again.

    On Thursday, Russian troops captured Kherson, located in southern Ukraine, and continued to advance towards Zaporizhzhia. Early on Friday morning, disturbing news came from the region: a local nuclear power plant was on fire.

    The fire at the Zaporizhzhia nuclear power plant was caused by shelling by Russian forces who were trying to take control of the facility.

    Recall that earlier Russia had already seized the inactive Chernobyl station, located about 100 km north of Kyiv.

    Unlike the Chernobyl nuclear power plant, the Zaporizhzhia station is an important strategic facility. It is the largest in Europe and generates approximately 20% of the total volume of all Ukrainian electricity.

    The news of the fire at the nuclear power plant raised great concerns about its safety. The threat of a second Chernobyl quickly sowed panic in the stock markets and increased the demand for safe-haven assets.

    This morning, gold rose sharply by 0.6% to $1,948.60. However, later, when comments from the Ukrainian authorities about the real situation at the nuclear power plant appeared, the quotes also plummeted.

    Ukraine informed the International Atomic Energy Agency that the fire did not affect the main equipment. It was also noted that the radiation background is not disturbed.

    The severity of the incident was also assessed by US Secretary of Energy Jennifer Granholm. She assured that all reactors at the Zaporizhzhia NPP are reliably protected and will be safely shut down in an emergency.

    Despite the fact that the level of anxiety about the emergency at the nuclear power plant has already decreased, gold still maintains a confident upward trend. Now bullion is aiming to end the current week with an increase.

    According to preliminary estimates, since Monday, the yellow asset has risen in price by more than 2%. This is the best weekly increase in the precious metal since May last year.

    Geopolitics continues to be the key pricing factor in the gold market. Yesterday, waiting for the outcome of Russian-Ukrainian negotiations, the cost of bullion rose to $1,935.90. The difference with the previous trade, when the quotes fell by 1.1%, amounted to 0.7%.

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    Investors foresaw that the meeting of the two sides would not lead to a de-escalation of the conflict, and they were right. It seems that there is no point in hoping for a ceasefire anytime soon. The military operation will drag on for a long time, as a result of which the world economy may face a severe crisis.

    Markets are already feeling the economic impact of Russia's invasion of Ukraine. Oil prices are rising, fueling fears of accelerating inflation.

    Wanting to protect their savings during a period of great uncertainty, many traders get rid of risky financial instruments and buy protective assets.

    According to analyst Peter Grosskopf, gold currently has the biggest potential. The expert advises investors to ignore the daily price fluctuations that have been observed in recent days and focus on the larger upward trend of the precious metal.

    Grosskopf expects that interest in gold will continue to grow, as there will be a lot of volatility in the stock markets. This is not about a major stock crash. In an environment where both geopolitical and inflationary risks are huge, the usual correction will be enough to scare traders and increase their interest in the precious metal.

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  3. InstaForex Gertrude

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    Swiss National Bank pledges to stem franc's rise

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    The euro/franc exchange rate fell to 0.9910 in Asia overnight, as investors sought refuge in the Swiss currency. The valuation is the highest level for the franc since January 2015 when the Swiss central bank scrapped its peg to the euro. "The Swiss franc is currently sought after as a refuge currency, along with the US dollar and the yen," the central bank said in a statement.

    "The Swiss franc continues to be highly valued," it added. "The SNB remains prepared to intervene in the foreign exchange market if necessary."

    The verbal intervention is an unusual move by the central bank, which last gave a separate statement indicating its concerns about the franc's appreciation after Britain voted to leave the European Union in 2016.

    "While the SNB has been rather relaxed about the appreciation of the Swiss franc in the last months ... a drop below parity could change its attitude because parity is also a psychologically important threshold," UBS economist Alessandro Bee said.

    The SNB said the increased valuation of the franc, which is a danger for Switzerland's export-dominated economy, also recognized the inflation differentials between Switzerland and other countries.

    Consumer price inflation in Switzerland rose to a higher-than-expected 2.2% in February, the highest level since 2008, but well below the 5.8% level in the neighboring eurozone, Switzerland's biggest export market.

    The SNB on Monday said it looked at the overall currency situation rather than individual currency pairs.

    Sight deposit data, a proxy for the SNB's foreign currency purchases, showed a rise of just 500 million francs last week, indicating a small amount of intervention. Obviously, the bank is hoping with the announcement of its measures to achieve some outflow on the foreign exchange market.

    "I expect the SNB to fight this appreciation only moderately – because it cannot change the environment for investors that just seek safety," J. Safra Sarasin economist Karsten Junius said.

    Russia's invasion of Ukraine, which it calls a "special operation" has introduced uncertainties as the global economy looks to move towards monetary policy normalization, SNB Governing Board Member Andrea Maechler said in an interview published on Saturday.

    Her comments pointed out that the crisis had delayed the SNB's plans to retreat from the negative interest rates and foreign exchange purchases, which had been the basis of its expansive approach.

    The Swiss central bank gives its next monetary policy update on March 24. Obviously, if cash inflows continue, the institution will be forced to lower the franc exchange rate, otherwise exports and imports will cost the Swiss too much.

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  4. InstaForex Gertrude

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    US stocks closed lower, Dow Jones down 0.56%

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    At the close on the New York Stock Exchange, the Dow Jones fell 0.56% to a 6-month low, the S&P 500 index fell 0.73%, and the NASDAQ Composite index fell 0.28%.

    Caterpillar Inc was the top performer among the components of the Dow Jones index today, up 13.30 points or 6.76% to close at 210.00. Chevron Corp rose 8.49 points or 5.24% to close at 170.53. Boeing Co rose 4.63 points or 2.74% to close at 173.80.

    Shares of Coca-Cola Co were the leaders of the fall, the price of which fell by 2.42 points (3.96%), ending the session at 58.66. Procter & Gamble Company rose 3.96% or 6.05 points to close at 146.79 while UnitedHealth Group Incorporated shed 2.75% or 13.41 points to close at 473.46.

    Leading gainers among the S&P 500 index components in today's trading were Enphase Energy Inc, which rose 10.82% to 175.99, SolarEdge Technologies Inc, which gained 10.41% to close at 328.91, and also shares of Quanta Services Inc, which rose 8.17% to close the session at 116.83.

    The biggest losers were Seagate Technology PLC, which shed 9.51% to close at 90.57. Shares of ConAgra Foods Inc shed 8.22% to end the session at 30.93. Quotes of Intuitive Surgical Inc decreased in price by 7.98% to 269.32.

    Leading gainers among the components of the NASDAQ Composite in today's trading were Hycroft Mining Holding Corporation, which rose 203.31% to 1.00, Kala Pharmaceuticals Inc, which gained 88.49% to close at 1.15. as well as shares of Westport Fuel Systems Inc, which rose 52.63% to end the session at 2.03.

    The drop leaders were shares of Imperial Petroleum Inc, which fell 43.33% to close at 4.25. Shares of Inspirato Inc lost 42.78% to end the session at 15.25. Quotes of Digital Brands Group Inc decreased in price by 30.61% to 1.36.

    On the New York Stock Exchange, the number of securities that rose in price (1694) exceeded the number of those that closed in the red (1502), while quotes of 147 shares remained virtually unchanged. On the NASDAQ stock exchange, 2069 companies rose in price, 1727 fell, and 265 remained at the level of the previous close.

    The CBOE Volatility Index, which is based on S&P 500 options trading, fell 3.62% to 35.13.

    Gold futures for April delivery added 3.12%, or 62.35, to $2.00 a troy ounce. In other commodities, WTI crude for April delivery rose 4.44%, or 5.30, to $124.70 a barrel. Futures for Brent crude for May delivery rose 0.06%, or 0.08, to $129.27 a barrel.

    Meanwhile, in the Forex market, the EUR/USD pair remained unchanged at 0.00% to 1.09, while USD/JPY edged up 0.01% to hit 115.67.

    Futures on the USD index fell 0.17% to 99.12.

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  5. InstaForex Gertrude

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    Reviews: European stock markets rise sharply ahead of the big day

    In Wednesday's trading, key European indices showed strong gains. The German DAX is up by 5.32% after a permanent four-day decline. By the way, the DAX fell by more than 8% over the past week.

    The STOXX Europe 600 index of Europe's leading companies rose by 2.5% to 425.66 points. The British FTSE 100 gained 2.1% to settle at 7,112.6 points, while the French CAC 40 jumped by 5.01% to 6,283.33 points.

    The main reason for the spectacular rise in key European indices was the strong rally in the banking sector on the back of a stronger euro against the dollar. On Wednesday, UniCredit, BNP Paribas, Deutsche Bank shares soared by 8.3%, 7.97%, and 5.56% respectively.

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    In Wednesday's trading, key European indices showed strong gains. The German DAX is up by 5.32% after a permanent four-day decline. By the way, the DAX fell by more than 8% over the past week.

    The STOXX Europe 600 index of Europe's leading companies rose by 2.5% to 425.66 points. The British FTSE 100 gained 2.1% to settle at 7,112.6 points, while the French CAC 40 jumped by 5.01% to 6,283.33 points.

    The main reason for the spectacular rise in key European indices was the strong rally in the banking sector on the back of a stronger euro against the dollar. On Wednesday, UniCredit, BNP Paribas, Deutsche Bank shares soared by 8.3%, 7.97%, and 5.56% respectively.

    The securities of the German sportswear manufacturer Adidas climbed by more than 8%. The company's revenues rose by 15.2% to 21.23bn euros in the year to date. In addition, management of Adidas announced a 10% increase in dividend payments to €3.3 per share and projected sales growth of 11-13% in 2022.

    Shares in German tyre and automotive components maker Continental jumped 4% following the release of the company's financial report. According to the latest figures, Continental posted a net profit last year and resumed paying dividends to shareholders.

    The UK's Prudential Plc gained 6.8%. The insurance company increased its operating profit by 16% year-on-year in 2021. The main driver behind Prudential Plc's spectacular results was the strengthening of its business in the Asian region.

    The capitalization of Russian miner Polymetal soared by 33%. The company's management reported smooth production processes in Russia and Kazakhstan despite Western countries' sanctions.

    Shares in German postal and logistics company Deutsche Post AG rose 5.7% on a report of a 14% increase in net profit in the fourth quarter last year. In addition, the day before, the company announced the launch of a new €2bn buyback programme.

    Another important upside factor for Europe's leading indicators was the steadily rising oil prices, which exceeded $130 a barrel on Wednesday morning. The day before US President Joe Biden announced that the White House had banned energy imports from the Russian Federation. The UK authorities have also announced their intention to move away from Russian oil by the end of 2022. In the meantime, the European Union plans to reduce the bloc's energy dependence on energy supplies from the Russian Federation.

    On this news, the price of black gold instantly hit its highest levels since July 2008. In addition, decisive measures by Western countries carry the risks of further increases in the global cost of oil and a deterioration of the industry's supply chains.

    At the same time, Fatih Birol, head of the International Energy Agency, said the IEA was ready to bring more oil to market by releasing additional stocks.

    In recent days, the increase in world oil prices has been partly held back by news that US black gold inventories rose by 2.8 million barrels over the week. At the same time, market analysts predicted a steady decline in the indicator. Experts believe that this state of affairs was the result of consumers' negative reaction to higher prices at petrol stations and, as a consequence, a refusal to travel.

    This week's investor focus is on the upcoming European Central Bank (ECB) meeting scheduled for Thursday. Market participants will be keeping a close eye on how the ECB will deal with the persistently rising inflation rate and the multiple difficulties caused by the military conflict in Ukraine.

    In addition, the Russian and Ukrainian foreign ministers are scheduled to meet on March 10 in Turkey, which the world markets are expecting with great positivity and hope.

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  6. InstaForex Gertrude

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    US stocks closed lower, Dow Jones down 0.34%

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    At the close on the New York Stock Exchange, the Dow Jones fell 0.34%, the S&P 500 index fell 0.43%, the NASDAQ Composite index fell 0.95%.

    Chevron Corp was the top gainer among the components of the Dow Jones index today, up 4.55 points or 2.74% to close at 170.82. Walmart Inc rose 3.17 points (2.27%) to close at 142.63. Dow Inc rose 0.83 points or 1.39% to close at 60.63.

    Shares of Apple Inc became the leaders of the fall, the price of which fell by 4.43 points (2.72%), ending the session at 158.52. Procter & Gamble Company was up 2.57% or 3.83 points to close at 144.94, while Cisco Systems Inc was down 2.16% or 1.21 points to close at 54.71.

    Leading gainers among the S&P 500 index components in today's trading were Halliburton Company, which rose 8.93% to hit 37.95, Baker Hughes Co, which gained 8.67% to close at 36.74, and Mosaic Co, which rose 7.74% to end the session at 62.19.

    Etsy Inc was the biggest loser, shedding 5.35% to close at 136.98. Shares of EPAM Systems Inc lost 4.86% to end the session at 188.76. Quotes of MSCI Inc decreased in price by 4.69% to 465.26.

    Leading gainers among the components of the NASDAQ Composite in today's trading were Hycroft Mining Holding Corporation, which rose 138.10% to hit 1.50, AgriFORCE Growing Systems Ltd, which gained 102.37% to close at 3.42 , as well as shares of Hoth Therapeutics Inc, which rose 38.79% to close the session at 0.80.

    The biggest losers were Trean Insurance Group Inc, which shed 51.70% to close at 3.40. Shares of Fossil Group Inc lost 37.51% and ended the session at 9.08. Quotes TherapeuticsMD Inc fell in price by 27.50% to 0.29.

    On the New York Stock Exchange, the number of securities that fell in price (1836) exceeded the number of those that closed in positive territory (1367), and quotes of 128 shares remained virtually unchanged. On the NASDAQ stock exchange, 2,282 companies fell in price, 1,463 rose, and 253 remained at the level of the previous close.

    The CBOE Volatility Index, which is based on S&P 500 options trading, fell 6.84% to 30.23.

    Gold futures for April delivery added 0.68% or 13.60 to hit $2.00 a troy ounce. In other commodities, WTI April futures fell 2.64%, or 2.87, to $105.83 a barrel. Futures for Brent oil for May delivery fell 0.04%, or 0.04, to $109.15 a barrel.

    Meanwhile, in the Forex market, the EUR/USD pair remained unchanged 0.05% to 1.10, while USD/JPY rallied 0.00% to hit 116.14.

    Futures on the USD index rose by 0.58% to 98.53.

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  7. InstaForex Gertrude

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    Asia-Pacific stocks are generally down

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    As of 07:28 GMT+2, the Shanghai Composite Index is down 1.3% to 3266.73 points, the Shenzhen Composite Exchange is down 1.47% to 2141.27 points, the Hong Kong Hang Seng Index is by 3.75%, up to 19783.61 points. The Australian S&P/ASX 200 is up 1.12% to 7142.4 points, while the Japanese Nikkei 225 is up 1.09% to 25429.5 points. South Korean KOSPI is down 0.73% to 2641.85 points.

    Asian stock markets are mostly negative on Monday as investors watch the developments around Chinese companies listed in the US. Earlier, the US Securities and Exchange Commission presented a list of five companies that may be delisted.

    According to Daily FX analysts quoted by the Wall Street Journal, the quotes of Chinese technology giants listed on US stock exchanges have been falling for the second day in a row due to fears of delisting them.

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  8. InstaForex Gertrude

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    AUSTRALIA HOUSE PRICES JUMP 4.7% ON QUARTER IN Q4

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    House prices in Australia were up 4.7 percent on quarter in the fourth quarter of 2021, the Australian Bureau of Statistics said on Tuesday.

    That exceeded expectations for a gain of 3.9 percent and was down from the 5.0 percent increase in the third quarter.

    On a yearly basis, house prices jumped 23.7 percent, up from 21.7 percent.

    The total value of residential dwellings in Australia rose A$512.6 billion to A$9,901.6 billion in Q4, and the mean price of residential dwellings rose A$44,000 to A$920,100.

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  9. InstaForex Gertrude

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    SOUTH KOREA JOBLESS RATE FALLS IN FEBRUARY

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    South Korea's unemployment rate declined in February, data from Statistics Korea showed on Wednesday.

    The jobless rate fell to a seasonally adjusted 2.7 percent in February from 3.6 percent in January. In the same month last year, the unemployment rate was 3.9 percent.

    On an unadjusted basis, the unemployment rate declined to 3.4 percent in February from 4.1 percent in the previous month.

    The number of unemployed decreased to 954,000 in February from 1.143 million in the preceding month. Compared to a year ago, the figure decreased by 399,000 persons.

    The number of employed persons increased by 1.037 million year-on-year to 27.402 million in February.

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  10. InstaForex Gertrude

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    SINGAPORE NON-OIL DOMESTIC EXPORTS SINK 2.8% IN FEBRUARY

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    The value of non-oil domestic exports in Singapore was down a seasonally adjusted 2.8 percent on month in February, Statistics Singapore said on Thursday/

    That missed expectations for a decline of 0.3 percent following the 5.0 percent increase in January.

    On a yearly basis, non-oil domestic exports climbed 9.5 percent - again missing forecasts for an increase or 15.7 percent and down from 17.6 percent in the previous month.

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    JAPAN CONSUMER PRICES JUMP 0.9% ON YEAR IN FEBRUARY

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    Consumer prices in Japan were up 0.9 percent on year in February, the Ministry of Internal Affairs and Communications said on Friday.

    That exceeded forecasts for an increase of 0.7 percent and accelerated from 0.5 percent in January.

    On a monthly basis, inflation added 0.4 percent following the flat reading in the previous month.

    Core CPI, which excludes volatile food prices, rose 0.6 percent on year after gaining 0.2 percent a month earlier.

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    NEW ZEALAND HAS NZ$385 MILLION TRADE SHORTFALL IN FEBRUARY

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    Japan posted a seasonally adjusted merchandise trade deficit of NZ$385 million in February, Statistics New Zealand said on Monday. That follows the downwardly revised NZ$1,126 million deficit in January (originally a trade deficit of NZ$1.082 billion).

    Exports were worth NZ$5.49 billion last month, up from the downwardly revised NZ$4.8 billion a month earlier (originally NZ$4.86 billion).

    Imports were at NZ$5.88 billion, down from the downwardly revised NZ$5.92 billion in the previous month (originally NZ$5.94 billion).

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  13. InstaForex Gertrude

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    JAPAN LEADING INDEX DATA DUE ON TUESDAY

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    Japan will on Tuesday release final January figures for its leading and coincident indexes, highlighting a light day for Asia-Pacific economic activity.

    In December, the leading index had a score of 104.7, while the coincident was at 92.7.

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    SOUTH KOREA PRODUCER PRICES RISE 8.4% ON YEAR IN FEBRUARY

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    Producer prices in South Korea were up 8.4 percent on year in February, the Bank of Korea said on Wednesday - slowing from 8.9 percent in January.

    Individually, prices for agricultural, forestry and marine products fell 6.6 percent on year, while manufacturing products jumped 14.0 percent, utilities climbed 12.0 percent and services rose 2.5 percent.

    On a monthly basis, producer prices rose 0.4 percent, down from 1.1 percent in the previous month.

    Individually, prices for agricultural, forestry and marine products fell 5.1 percent on month, while manufacturing products added 1.1 percent, utilities eased 0.1 percent and services were flat.

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    BOJ MINUTES: JAPAN ECONOMY CONTINUES TO RECOVER

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    Members of the Bank of Japan's Monetary Policy Board said that Japan's economic recovery is continuing at a satisfactory pace in the wake of the COVID-19 pandemic, minutes from the bank's January 17-18 meeting revealed on Thursday.

    Corporate profits and business sentiment continue to improve, the minutes showed, although employment and income remain weak.

    To that end, the board said it finds it appropriate to maintain its current monetary easing and support stability in the financial markets.

    At the meeting, the BoJ voted 8-1 to maintain its monetary policy stimulus unchanged at -0.1 percent on current accounts that financial institutions maintain at the central bank. It also lifted its inflation forecast for the next fiscal year, citing a rise in commodity prices.

    The bank also said it will continue to purchase a necessary amount of Japanese government bonds without setting an upper limit so that 10-year JGB yields will remain at around zero percent.

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    TOKYO INFLATION DATA DUE ON FRIDAY

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    Japan will on Friday release March figures for consumer prices in the Tokyo region, highlighting a modest day for Asia-Pacific economic activity. In February, overall inflation was up 1.0 percent on year and core CPI rose an annual 0.5 percent.

    Singapore will release February numbers for industrial production, with forecasts suggesting a decline of 0.9 percent on month and an increase of 6.3 percent on year. That follows the 10.7 percent monthly drop and the 2.0 percent yearly gain in January.

    Taiwan will see March results for its consumer confidence index; in February, the index score was 73.19.

    China will provide final Q4 figures for current account; in the three months prior, the current account surplus was $73.6 billion.

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    HONG KONG TRADE DATA DUE ON MONDAY

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    Hong Kong will on Monday release February figures for imports, exports and trade balance, highlighting a light day for Asia-Pacific economic activity.

    In January, imports were up 9.6 percent on year and exports jumped an annual 18.4 percent, resulting in a HKD6.6 billion trade surplus.

    Taiwan will see March results for its consumer confidence index; in February, the index score was 73.19.

    The Philippines also will provide Q1 results for its consumer confidence index; the reading in the three months prior was -24.0.

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    AUSTRALIA RETAIL SALES JUMP 1.8% IN FEBRUARY

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    The total value of retail sales in Australia was up a seasonally adjusted 1.8 percent on month in February, the Australian Bureau of Statistics said on Tuesday - coming in at A$33.085 billion.

    That beat expectations for an increase of 1.0 percent following the downwardly revised 1.6 percent increase in January (originally 1.8 percent).

    Individually, sales were up for household goods, clothing, department stores and restaurants; sales were down for food retailing and other retailing.

    On a yearly basis, retail sales climbed 9.1 percent.

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    JAPAN RETAIL SALES SINK 0.8% IN FEBRUARY

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    The total value of retail sales in Japan was down 0.8 percent on year in February, the Ministry of Economy, Trade and Industry said on Wednesday - coming in at 11.537 trillion yen.

    That missed expectations for a loss of 0.3 percent following the downwardly revised 1.1 percent increase in January (originally 1.6 percent).

    On a monthly basis, retail sales were again down 0.8 percent after slipping 0.9 percent in the previous month.

    Commercial sales were down 0.2 percent on month and up 6.2 percent on year to 44.732 trillion yen, while wholesale sales dropped 1.5 percent on month and gained 8.8 percent on year to 33.196 trillion yen.

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  20. InstaForex Gertrude

    InstaForex Gertrude Active Member

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    AUSTRALIA PRIVATE SECTOR CREDIT GAINS 0.6% ON MONTH IN FEBRUARY

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    Private sector credit in Australia was up 0.6 percent on month in February, the Reserve Bank of Australia said on Thursday - unchanged from the January reading.

    Housing credit also rose 0.6 percent on month, while personal credit was flat and business credit gained 0.8 percent.

    On a yearly basis, overall credit jumped 7.9 percent - accelerating from 7.6 percent in the previous month.

    Housing credit gained an annual 7.8 percent, while personal credit fell 3.0 percent and business credit jumped 98 percent.

    Broad money was up 0.3 percent on month and 8.8 percent on year.

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