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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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    EUROPEAN ECONOMIC NEWS PREVIEW: UK INFLATION DATA DUE

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    Consumer and producer prices from the UK are due on Wednesday, headlining a light day for the European economic news.

    At 2.00 am ET, the Office for National Statistics releases UK consumer and producer prices for January. Consumer price inflation is forecast to ease to 10.3 percent from 10.5 percent in December.

    Economists forecast UK output prices to grow 13.3 percent in January from the last year, slower than the 14.7 percent increase in December. Likewise, input price inflation is seen easing to 14.7 percent from 16.5 percent.

    At 3.00 am ET, Spain's INE publishes final consumer and harmonized prices for January. Inflation is forecast to rise slightly to 5.8 percent, as initially estimated, from 5.7 percent in December.

    At 5.00 am ET, Eurostat publishes euro area industrial production and foreign trade figures. Industrial output is expected to fall 0.8 percent on month, reversing November's 1.0 percent increase. The trade deficit is seen widening to EUR 12.5 billion in December from EUR 11.7 billion in November.

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  2. InstaForex Gertrude

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    DUTCH JOBLESS RATE RISES SLIGHTLY TO 3.6%

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    The Netherlands' unemployment rate increased slightly in January from a six-month low in December, data from the Central Bureau of Statistics showed on Thursday.

    The seasonally adjusted ILO jobless rate for the 15-75 year old age group rose to 3.6 percent in January from 3.5 percent in December. In the corresponding month last year, the unemployment rate was also 3.6 percent.

    The number of unemployed increased to 360,000 in January, up from 352,000 the previous month.

    The youth unemployment rate, which applies to the 15 to 25 age group, climbed to 7.8 percent in January from 7.5 percent in the prior month.

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  3. InstaForex Gertrude

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    SWISS INDUSTRIAL PRODUCTION EXPANDS 6.1% IN Q4

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    Switzerland's industrial production continued to expand strongly in the fourth quarter on the back of sharp growth in the manufacturing sector, while construction output contracted, the Federal Statistical Office reported on Friday.

    Industrial production rose 6.1 percent year-over-year in the fourth quarter, slightly faster than the 6.0 percent rise in the third quarter.

    Production in the manufacturing sector grew 7.9 percent, while the mining and quarrying segment logged a negative growth of 3.0 percent. Electricity supply also slumped 10.3 percent.

    Secondary sector production, which combines industry and construction, grew 4.1 percent annually in the December quarter, following a 3.7 percent gain in the September quarter.

    Meanwhile, construction output declined 5.5 percent, slower than the 8.8 percent plunge in the preceding three-month period. Industrial turnover advanced 8.7 percent in the fourth quarter and construction turnover rose 2.7 percent.

    The growth in production and turnover has been uninterrupted since the first quarter 2021, the agency said.

    In December, industrial production climbed 8.6 percent year-on-year, following a 1.0 percent growth in November.

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  4. InstaForex Gertrude

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    EUROPEAN ECONOMIC NEWS PREVIEW: BUNDESBANK MONTHLY REPORT DUE

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    A monthly report from Germany's central bank is the only major data due on Monday, headlining a light day for the European economic news.

    At 2.00 am ET, Statistics Sweden is scheduled to issue consumer prices for January. Consumer price inflation is forecast to ease to 11.8 percent from 12.3 percent in December.

    At 4.00 am ET, industrial production, producer prices and employment figures are due from Poland. Industrial production is seen growing 4.3 percent annually in January after rising 1.0 percent in December. Economists forecast producer price inflation to slow to 18.5 percent from 20.4 percent a month ago.

    At 5.00 am ET, Eurostat releases euro area construction output data for December.

    At 6.00 am ET, Germany's central bank is set to publish the February edition of the Monthly Report that comments on the economic situation during the winter 2022/23.

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  5. InstaForex Gertrude

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    European stock indices decline moderately during trading

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    The composite index of the largest companies in the region Stoxx Europe 600 by 12:33 GMT + 3 fell by 0.05% and amounted to 464.09 points.

    The British stock index FTSE 100 fell by less than 0.1%, the German DAX - by 0.24%, the French CAC 40 - by 0.31%. The Italian FTSE MIB and the Spanish IBEX 35 lost 0.1% and 0.3% respectively.

    Trading activity in world markets is expected to be lower than usual on Monday due to the celebration of Presidents Day in the US.

    Stocks in Shanghai and Hong Kong rose sharply on Monday on news that the People's Bank of China kept its one-year Loan Prime Rate at 3.65% and the five-year lending rate at 4.3%. per annum.

    People's Bank of China has not changed rates for six meetings in a row. At the same time, many economists believe that in the coming months the rate may be lowered to stimulate economic growth, writes Bloomberg.

    On Wednesday evening, the minutes of the last Fed meeting will be made public, at which the key interest rate was raised by 25 basis points.

    Investors are particularly looking forward to the minutes as several Fed officials, including the heads of the Federal Reserve Banks of Cleveland and St. Louis, said last week that they were calling for a sharper rate hike.

    Shares of Pernod Ricard SA rose 0.1%. One of the world's largest producers of alcoholic beverages announced the start of a new stage of the share buyback program. The purchase of securities in the amount of up to 300 million euros will take place before April 6 and will be carried out as part of a total program of 750 million euros.

    Stellantis and Pirelli are up 2%, leading gains on the Milan bourse, while Telecom Italia shares are down 2.9%.

    Capitalization of the British retailer Frasers Group rose by 3.5% after the company announced a share buyback worth up to 80 million pounds ($96.26 million).

    Quotes of Commerzbank AG fall by 2.7%. As reported, the shares of Germany's second-largest bank will be included in the calculation of the main German stock index DAX 40 from February 27 instead of the papers of the chemical company Linde, according to a report by Deutsche Boerse AG, operator of the Frankfurt stock exchange.

    French supermarket chain Carrefour jumped 8% in market value to lead growth in the Stoxx Europe 600 index. The retailer reported annual revenue of more than 90 billion euros and recorded an 11% increase in like-for-like sales in the fourth quarter of last year.

    The decline leader in the Stoxx Europe 600 is Raiffeisen Bank International, shedding 7.6%, while the gainer was led by French medical equipment maker Orpea S.A., which jumped 17.7%.

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  6. InstaForex Gertrude

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    NEW ZEALAND SOFTENS MONETARY POLICY TIGHTENING

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    New Zealand's central bank raised its benchmark rate by a half percentage point on Wednesday, following a 75 basis-point hike in November, as policymakers assessed that the upside risks to inflation has moderated since the last meeting.

    The Monetary Policy Committee of the Reserve Bank of New Zealand lifted the Official Cash Rate to 4.75 percent from 4.25 percent.

    Previously, the bank had hiked the OCR by 75 basis points in November, which was the ninth consecutive hike. The interest rate was lifted by 450 basis points since October 2021.

    Although members discussed increases of 50 and 75 basis points at the February meeting, they observed that the balance of risks around inflation remain skewed to the upside but the extent of the risk had moderated somewhat since the November Statement.

    "A a 50 basis point move balanced the need to ensure core inflation and inflation expectations fall, against the early signs that demand was beginning to moderate towards the economy's productive capacity," the bank said.

    Members noted the long lags of monetary policy transmission to the economy. They agreed that the interest rate needs to reach a level where the MPC could be confident that it would reduce actual inflation to within the target range over the forecast horizon. Signaling further tightening, the bank said higher interest rates are required to sustainably bring down inflation and support maximum sustainable employment.

    Regarding the Cyclone Gabrielle and other severe weather events, policymakers said it is too early to estimate the full economic impact. The committee decided to look through the short-term direct price pressures stemming from these extreme weather events, and focus on the medium-term impacts.

    As the coming recession will be a little deeper than the central bank is anticipating, the RBNZ is likely to stop at 5.25 percent, Marcel Thieliant, an economist at Capital Economics, said.

    The interest rate cuts could happen as soon as the end of this year rather than the second half of next year as signaled by the Bank today, the economist added.

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  7. InstaForex Gertrude

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    EUROPEAN ECONOMIC NEWS PREVIEW: EUROZONE FINAL INFLATION DATA DUE

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    Final inflation from the euro area is the only major statistical report due on Thursday, headlining a light day for the European economic news.

    At 3.00 am ET, final consumer prices data from Austria is due. The flash estimate showed that consumer price inflation rose to 11.1 percent in January from 10.2 percent in December.

    At 4.00 am ET, unemployment data is due from Poland. The jobless rate is forecast to rise to 5.5 percent in January from 5.2 percent in December.

    At 5.00 am ET, Eurostat releases euro area final inflation data for January. The statistical office is set to confirm 8.5 percent inflation, which was up from 9.2 percent in December. Core inflation was seen at 5.2 percent, unchanged from December, and in line with preliminary estimate.

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  8. InstaForex Gertrude

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    JAPAN CONSUMER PRICE INFLATION AT 41-YEAR HIGH

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    Japan's consumer price inflation accelerated further in January to hit a fresh 41-year high, adding pressure on the central bank to withdraw its massive monetary stimulus.

    Core inflation that excludes volatile fresh food climbed to 4.2 percent in January from 4.0 percent in the previous month, data from the Ministry of Internal Affairs and Communications showed Friday.

    The rate was the fastest since September 1981 and matched economists' expectations. Headline inflation rose to 4.3 percent from 4.0 percent in December. The 4.3 percent was the strongest since December 1981. Inflation has remained above the 2 percent target for the tenth straight month.

    Excluding fresh food and energy, inflation advanced to 3.2 percent from 3.0 percent in the previous month.

    Fresh food prices advanced to 7.2 percent from 4.9 percent. Meanwhile, growth in energy prices slowed to 14.6 percent from 15.2 percent a month ago.

    On a monthly basis, overall consumer prices gained 0.4 percent, following December's 0.3 percent increase.

    With government energy subsidies taking effect from this month, inflation is expected to fall below the Bank of Japan's 2 percent target by mid-year, Capital Economics' economist Darren Tay, said. At the January monetary policy meeting, the BoJ left its yield curve control and negative interest rates unchanged.

    At the parliamentary hearing on Friday, BoJ Governor nominee Kazuo Ueda said it would be appropriate to continue monetary easing measures. Markets widely expect a policy change under the governorship of Ueda.

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  9. InstaForex Gertrude

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    AUSTRALIA COMPANY OPERATING PROFITS JUMP 10.6% IN Q4

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    Australia's company gross operating profits surged a seasonally adjusted 10.6 percent on quarter in the fourth quarter of 2022, the Australian Bureau of Statistics said on Monday.

    That blew away expectations for an increase of 1.5 percent following the upwardly revised 11.5 percent decline in the three months prior (originally -12.5 percent).

    Business inventories eased 0.2 percent on quarter, in line with forecasts following the 1.7 percent increase in the previous three months.

    Wages and salaries rose 2.6 percent on quarter.

    On a yearly basis, operating profits jumped16.0 percent, inventories gained 5.9 percent and wages advanced 11.6 percent.

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  10. InstaForex Gertrude

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    JAPAN INDUSTRIAL PRODUCTION SINKS 4.6% IN JANUARY

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    Industrial production in Japan was down a seasonally adjusted 4.6 percent on month in January, the Ministry of Economy, Trade and Industry said on Tuesday.
    That was shy of expectations for a decline of 2.6 percent following the 0.3 percent increase in December.
    On a yearly basis, industrial output fell 2.3 percent after skipping 2.4 percent in the previous month.
    Upon the release of the data, the METI downgraded its assessment of industrial production, saying that it has
    Shipments were down 3.1 percent on month and 2.4 percent on year, while inventories fell 0.9 percent on month and gained 3.2 percent on year. The inventory ratio advanced 2.5 percent on month and 9.6 percent on year.
    According to the METI's forecast of industrial production, output is expected to jump 8.0 percent in February and rise 0.7 percent in March.

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  11. InstaForex Gertrude

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    CHINA CAIXIN PMI MOVES BACK TO EXPANSION IN FEBRUARY

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    The manufacturing sector in China moved back into expansion territory in February, the latest survey from Caixin revealed on Wednesday with a PMI score of 51.6.

    That's up from 49.2 in January, and it moves above the boom-or-bust line of 50 that separates expansion from contraction.

    The higher headline index reading was supported by a renewed increase in production volumes in February. This marked the first upturn in output since last August, with the rate of expansion the steepest since June 2022.

    Firms frequently mentioned that the recent easing of COVID-19 containment measures and recovery of operations and client demand had underpinned the increase in production. Similarly, total new business expanded for the first time in seven months, and at the quickest rate since May 2021.

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  12. InstaForex Gertrude

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    EUROPEAN ECONOMIC NEWS PREVIEW: EUROZONE FLASH INFLATION, UNEMPLOYMENT DATA DUE

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    Flash inflation and unemployment data from the euro area and the minutes of the governing council from the European Central Bank are due on Thursday.

    At 3.00 am ET, Spain unemployment data is due. The number of unemployed is forecast to increase by 11,500 in February.

    In the meantime, flash inflation figures are due from Austria.

    At 4.00 am ET, Italy's statistical office Istat publishes unemployment data for January. The jobless rate is seen unchanged at 7.8 percent.

    At 5.00 am ET, Eurostat releases euro area flash inflation and unemployment data. The annual inflation rate is forecast to ease to 8.2 percent in February from 8.6 percent in January. At the same time, the unemployment rate is forecast to remain at 6.6 percent in January.

    At 7.30 am ET, the European Central Bank is scheduled to issue the account of the monetary policy meeting of the Governing Council held on February 1 and 2.

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  13. InstaForex Gertrude

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    SINGAPORE PMI SLUMPS IN FEBRUARY - S&P GLOBAL
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    The private sector in Singapore fell into contraction in February, the latest survey from S&P Global showed on Friday with a PMI score of 49.6.
    That's down from 51.2 in January, and it slips beneath the boom-or-bust line of 50 that separates expansion from contraction.
    Demand for Singaporean goods and services rose in February, but only fractionally compared to the start of the year. Promotional activities supported the latest growth in new orders. Growth was mainly driven by the real estate & business services and consumer services sectors. Foreign demand also saw its rate of growth slow in the latest survey.
    As a result of the weak rise in new orders, private sector output was only able to eke out slight gains in February. Lingering issues of supply constraints also led to a further accumulation of backlogged work over the month.
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  14. InstaForex Gertrude

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    YEN RISES AGAINST MAJORS

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    The Japanese yen strengthened against the other major currencies in the Asian session on Monday.

    The yen rose to a 5-day high of 144.15 against the euro and a 4-day high of 144.76 against the Swiss franc, from Friday's closing values of 144.36 and 145.03, respectively.

    Against the pound, the yen advanced to 163.17 from an early 4-day low of 163.68. Against the Australian and the New Zealand dollars, the yen climbed to 5-day highs of 91.52 and 84.27 from last week's closing quotes of 91.87 and 84.48, respectively.

    The yen rose to 99.67 against the Canadian dollar, from Friday's closing value of 99.85.

    If the yen extends its uptrend, it is likely to find resistance around 141.00 against the euro, 140.00 against the franc, 159.00 against the pound, 88.00 against the aussie, 82.00 against the kiwi and 95.00 against the loonie.

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  15. InstaForex Gertrude

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    AUSTRALIAN DOLLAR FALLS AFTER RBA RATE DECISION

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    The Reserve Bank of Australia released its monetary policy meeting at 10:30 pm ET in the early Asian session on Tuesday. The RBA increased the cash rate target by 25 basis points to 3.60 percent, as expected.

    After the RBA rate decision, the Australian dollar fell against its major rivals.

    As of 10:31 pm ET, the aussie was trading at 1.5904 against the euro, 0.6721 against the U.S. dollar, 91.30 against the yen and 1.0827 against the NZ dollar.

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  16. InstaForex Gertrude

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    EUROPEAN ECONOMIC NEWS PREVIEW: GERMANY INDUSTRIAL OUTPUT & RETAIL SALES DATA DUE

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    Industrial production and retail sales from Germany and revised quarterly national accounts from the euro area are due on Wednesday, headlining a light day for the European economic news.

    At 2.00 am ET, Destatis is scheduled to issue Germany's industrial production and retail sales for January. Industrial output is forecast to grow 1.4 percent on month, in contrast to the 3.1 percent decrease in December. Sales are expected to climb 2.0 percent on month, reversing a 5.3 percent decrease in the prior month.

    Half an hour later, the Hungarian Central Statistical Office is scheduled to release consumer prices for February. Inflation is forecast to ease to 25.4 percent from 25.7 percent in January.

    At 4.00 am ET, Italy's Istat is scheduled to publish retail sales for January. Economists forecast sales to fall 0.2 percent on month, the same pace of fall as seen in December.

    At 5.00 am ET, Eurostat releases euro area revised quarterly national accounts for the fourth quarter. The initial estimate showed that the currency bloc expanded only 0.1 percent after rising 0.3 percent in the third quarter.

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  17. InstaForex Gertrude

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    EUROPEAN ECONOMIC NEWS PREVIEW: FRANCE PAYROLL EMPLOYMENT DATA DUE

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    Payroll employment from France is the only major economic report due on Thursday, headlining a light day for the European economic news.

    At 1.30 am ET, France's statistical office INSEE releases payroll employment data for the fourth quarter.

    At 2.00 am ET, Statistics Sweden is scheduled to issue GDP, industrial production and new orders data for January.

    At 3.00 am ET, the Czech Statistical Office publishes foreign trade data for January. The trade balance is forecast to show a surplus of CZK 15.3 billion compared to a shortfall of CZK 1.2 billion in December.

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  18. InstaForex Gertrude

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    YEN FALLS AFTER BOJ RATE DECISION

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    The Japanese yen weakened against the other major currencies in the early Asian session on Friday, after the Bank of Japan left its policy balance rate unchanged at -0.1 percent, as expected.

    The yen fell to a 2-day low of 144.99 against the euro, a 3-day low of 163.19 against the pound and nearly a 3-month low of 146.91 against the Swiss franc, from yesterday's closing quotes of 144.04, 162.25 and 145.87, respectively.

    Against the U.S. and the Australian dollars, the yen edged down to 136.97 and 89.99 from a recent 3-day high of 135.81 and nearly a 2-month high of 89.26, respectively. Against the New Zealand and the Canadian dollars, the yen dropped to 83.52 and 98.94 from recent 1-month highs of 82.87 and 98.15, respectively.

    If the yen extends its downtrend, it is likely to find support around 146.00 against the euro, 166.00 against the pound, 148.00 against the franc, 139.00 against the greenback, 92.00 against the aussie, 85.00 against the kiwi and 100.00 against the loonie.

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  19. InstaForex Gertrude

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    U.S. DOLLAR FALLS AGAINST MAJORS

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    The U.S. dollar weakened against other major currencies in the Asian session on Monday. The U.S. dollar fell to nearly a 4-week low of 1.0731 against the euro and nearly a 2-week low of 1.2139 against the pound, from last week's closing quotes of 1.0639 and 1.2029, respectively.

    The U.S. dollar retreated to 133.69 against the yen and 0.9155 against the Swiss franc, from early highs of 135.05 and 0.9202, respectively.

    The U.S. dollar dropped to near 4-month lows of 133.52 against the yen and 0.9146 against the Swiss franc in the early Asian session today.

    Against the Australian, the New Zealand and the Canadian dollars, the greenback dropped to 6-day lows of 0.6672, 0.6202 and 1.3711 from Friday's closing quotes of 0.6580, 0.6132 and 1.3823, respectively.

    If the greenback extends its downtrend, it is likely to find support around 1.09 against the euro, 1.23 against the pound, 131.00 against the yen, 0.90 against the franc, 0.69 against the aussie, 0.63 against the kiwi and 1.35 against the loonie.

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  20. InstaForex Gertrude

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    AUSTRALIA CONSUMER CONFIDENCE DATA DUE ON TUESDAY

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    Australia will on Tuesday see March results for the consumer confidence index from Westpac Bank, highlighting a light day for Asia-Pacific economic activity. In February, the index dipped 6.9 percent.

    Australia also will see February results for the business confidence survey from NAB; in January, the survey score was +6.

    Singapore will release January results for unemployment; in the previous month, the jobless rate was 2.0 percent.

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