Gold price’s next move is largely dependent upon what happens in the US-China trade war.
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Saturday, 30 November 2019
Weekly Gold Price Forecast: Kicking the Can on a US-China Trade War Phase 1 Deal
Gold price’s next move is largely dependent upon what happens in the US-China trade war. Via DailyFX - Market News https://ift.tt/2NYYHlE
US Dollar May Rise as US-China Trade Deal, Key Data Fall Flat
The US Dollar may benefit from haven demand as key economic data falls short of expectations while any “phase 1” US-China trade deal disappoints.
US Dollar May Rise as US-China Trade Deal, Key Data Fall Flat
The US Dollar may benefit from haven demand as key economic data falls short of expectations while any “phase 1” US-China trade deal disappoints. Via DailyFX - Market News https://ift.tt/2NYYHlE
Canadian Dollar Outlook Bearish on BOC, Jobs Data, Trade War
The Canadian Dollar may face selling pressure if the BOC outlook strikes a more cautious note ahead of a cascade of key jobs data as US-China trade tensions escalate.
Canadian Dollar Outlook Bearish on BOC, Jobs Data, Trade War
The Canadian Dollar may face selling pressure if the BOC outlook strikes a more cautious note ahead of a cascade of key jobs data as US-China trade tensions escalate. Via DailyFX - Market News https://ift.tt/2NYYHlE
Australian Dollar Could Struggle With RBA Rate Call, GDP Figures
The Australian Dollar is as in thrall to US-China trade headlines as any asset, but the coming week offers the prospect of much domestic distraction.
Australian Dollar Could Struggle With RBA Rate Call, GDP Figures
The Australian Dollar is as in thrall to US-China trade headlines as any asset, but the coming week offers the prospect of much domestic distraction. Via DailyFX - Market News https://ift.tt/2NYYHlE
U.S. Dollar Shows Modest Move To The Downside
The value of the U.S. dollar moved modestly lower over the course of the trading session on Friday, as traders seemed reluctant to make significant moves.
The dollar is trading at 109.45 yen compared to the 109.51 yen it fetched on Thursday. Against the euro, the dollar is valued at $1.1018 compared to yesterday's $1.1009.
The choppy trading came amid concerns rising tensions between the U.S. and China over the situation in Hong Kong could impact ongoing trade talks.
After President Donald Trump signed two bills in support of pro-democracy protesters in Hong Kong, a spokesman for China's Foreign Ministry threatened strong countermeasures.
Foreign Ministry spokesman Geng Shuang accused the U.S. of interfering in China's internal affairs and violating international law and the basic norms governing international relations.
"China will take strong counter-measures in response to the U.S. behavior that interferes in China's internal affairs and undermines China's interests," Geng said.
"No one shall underestimate China's determination in safeguarding national sovereignty, security and development interests," he added. "Nor shall they misjudge China's resolve in implementing the 'one country, two systems' principle and in upholding prosperity and stability in Hong Kong."
With a fresh round of protests expected over the weekend, the dispute over the situation in Hong Kong could potentially derail the long-awaited phase one trade deal.
Trading activity remained relatively light, however, with many traders still away from their desks following the Thanksgiving Day holiday on Thursday.
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source http://www.mt5.com/forex_news/quickview/2147435/
Oil Prices Fall Sharply On Rising Tensions, Looming OPEC Meeting
After moving modestly higher in the two previous sessions, the price of crude oil showed a substantial pullback during trading on Friday.
Crude for January delivery plunged $2.94 or 5.1 percent to $55.17 a barrel, ending the session at its lowest closing level in a month.
The sell-off by oil prices came amid concerns rising tensions between the U.S. and China over the situation in Hong Kong could impact ongoing trade talks.
The resignation of Iraqi Prime Minister Adel Abdul-Mahdi also contributed to the steep drop, as traders believe the news could help quell weeks of unrest in Iraq.
Traders were also looking ahead to next week's OPEC meeting, where the cartel and its allies are widely expected to extend the current output cut of 1.2 million barrels per day.
After President Donald Trump signed two bills in support of pro-democracy protesters in Hong Kong, a spokesman for China's Foreign Ministry threatened strong countermeasures.
Foreign Ministry spokesman Geng Shuang accused the U.S. of interfering in China's internal affairs and violating international law and the basic norms governing international relations.
"China will take strong counter-measures in response to the U.S. behavior that interferes in China's internal affairs and undermines China's interests," Geng said.
"No one shall underestimate China's determination in safeguarding national sovereignty, security and development interests," he added. "Nor shall they misjudge China's resolve in implementing the 'one country, two systems' principle and in upholding prosperity and stability in Hong Kong."
With a fresh round of protests expected over the weekend, the dispute over the situation in Hong Kong could potentially derail the long-awaited phase one trade deal.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147434/
Treasuries Climb Off Worst Levels But Close Slightly Lower
Following the Thanksgiving Day holiday on Thursday, treasuries finished Friday's abbreviated trading session slightly lower.
Bond prices climbed well off their lows of the session but still ended the day just below the unchanged line. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, inched up nearly a basis point at 1.776 percent.
Treasuries rebounded from early weakness amid concerns rising tensions between the U.S. and China over the situation in Hong Kong could impact ongoing trade talks.
After President Donald Trump signed two bills in support of pro-democracy protesters in Hong Kong, a spokesman for China's Foreign Ministry threatened strong countermeasures.
Foreign Ministry spokesman Geng Shuang accused the U.S. of interfering in China's internal affairs and violating international law and the basic norms governing international relations.
"China will take strong counter-measures in response to the U.S. behavior that interferes in China's internal affairs and undermines China's interests," Geng said.
"No one shall underestimate China's determination in safeguarding national sovereignty, security and development interests," he added. "Nor shall they misjudge China's resolve in implementing the 'one country, two systems' principle and in upholding prosperity and stability in Hong Kong."
With a fresh round of protests expected over the weekend, the dispute over the situation in Hong Kong could potentially derail the long-awaited phase one trade deal.
News on the trade front is likely to remain in focus next week, although traders are also likely to keep a close eye on the Labor Department's monthly jobs report.
Trading could also be impacted by reaction to reports on manufacturing and service sector activity, the U.S. trade deficit, and consumer sentiment.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147433/
Gold Prices Move Notably Higher Amid Rising Tensions Over Hong Kong
Gold prices showed a strong move back to the upside during trading on Friday, more than offsetting the pullback seen on Wednesday.
The price of gold for February delivery jumped $11.90 or 0.8 percent to $1,472.70 an ounce after sliding $6.60 to $1,460.80 an ounce in the previous session.
For the holiday-interrupted week, gold for February delivery showed little change, inching up by just 0.1 percent.
The rebound on Friday came as some traders looked to gold as a safe haven amid concerns rising tensions between the U.S. and China over the situation in Hong Kong could impact ongoing trade talks.
After President Donald Trump signed two bills in support of pro-democracy protesters in Hong Kong, a spokesman for China's Foreign Ministry threatened strong countermeasures.
Foreign Ministry spokesman Geng Shuang accused the U.S. of interfering in China's internal affairs and violating international law and the basic norms governing international relations.
"China will take strong counter-measures in response to the U.S. behavior that interferes in China's internal affairs and undermines China's interests," Geng said.
"No one shall underestimate China's determination in safeguarding national sovereignty, security and development interests," he added. "Nor shall they misjudge China's resolve in implementing the 'one country, two systems' principle and in upholding prosperity and stability in Hong Kong."
With a fresh round of protests expected over the weekend, the dispute over the situation in Hong Kong could potentially derail the long-awaited phase one trade deal.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147432/
Friday, 29 November 2019
*Denmark Q3 GDP Up 0.3% On Quarter Vs. 1.1% In Q2
Denmark Q3 GDP Up 0.3% On Quarter Vs. 1.1% In Q2
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147310/
*Germany Oct Retail Sales Down 1.9% On Month, Consensus +0.2%
Germany Oct Retail Sales Down 1.9% On Month, Consensus +0.2%
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147311/
Euro Mixed Ahead Of German Retail Sales
At 2.00 am ET Friday, Destatis is scheduled to issue Germany retail sales and unemployment data for October. Economists forecast sales to grow 0.2 percent on month, following a 0.1 percent rise in September.
Ahead of the data, the euro traded mixed against its major counterparts. While the euro fell against the pound, it held steady against the rest of major counterparts.
The euro was worth 120.56 against the yen, 1.0995 against the franc, 0.8527 against the pound and 1.1010 against the greenback at 1:55 am ET.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147309/
Singapore Producer Prices Fall In October
Singapore producer prices declined further in October, data from the Department of Statistics showed on Friday.
The manufactured product price index fell 5.4 percent year-on-year in October, following the 4.5 percent decrease in September. Oil and non-oil prices plunged 24.9 percent and 1.7 percent, respectively.
On a monthly basis, producer prices decreased 1.5 percent in October, following a 0.1 percent fall in the previous month.
Another report showed that import prices dropped 6.8 percent annually in October, following a 4.9 percent decrease in September.
On a monthly basis, import prices fell 0.7 percent, in contrast to the 0.2 percent gain a month ago.
Exports prices decreased 2.1 percent on month, and fell 6.4 percent annually in October.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147308/
Australia Private Sector Credit Growth Slows In October
Australia's private sector credit growth eased marginally in October, figures from the Reserve Bank of Australia showed on Friday.
Private sector credit rose 0.1 percent month-on-month in October, following a 0.2 percent increase in September. Economists had forecast a 0.3 percent rise.
On a yearly basis, growth in private sector credit eased to 2.5 percent in October from 4.6 percent in the same month previous year. Economists had forecast the rate to rise 2.7 percent.
Data showed that broad money supply gained 0.5 percent on month and grew 4.2 percent annually in October.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147307/
Japan Consumer Confidence Highest In 5 Months
Japan's consumer confidence rose to the highest level in five months in November, data from the Cabinet Office showed on Friday.
The consumer confidence index rose to a seasonally adjusted 38.7 in November from 36.2 in October. Economists had expected a score of 37.0.
Among the four sub-indexes of the consumer confidence index, the index reflecting households' inclination to buy durable consumer goods rose to 35.3 in November, and the index for income growth increased to 40.1.
The indicators measuring overall livelihood improved to 38.0, and the employment perception grew to 41.4 in November.
The latest survey was conducted on November 15 covering 8,400 households with two or more persons.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147306/
Japan Housing Starts Fall At Fastest Pace In Five Months
Japan's housing starts fell at the fastest pace in five months in October, data from the Ministry of Land, Infrastructure, Transport and Tourism showed on Friday.
Housing starts decreased 7.4 percent year-on-year in October, following a 4.9 percent decline in September. This was in line with economists' expectations.
Annualized housing starts fell to 879,000 in October from 897,000 in the previous month. That was in line with economists' forecast. In the same period last year, housing starts totaled 950,000.
Data also showed that construction orders received by big 50 contractors rose 6.4 percent year-on-year in October, reversing a 6.8 percent fall in September.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147305/
*S. Africa Oct Private Sector Credit Up 7.28% Vs. 6.19% In Sep, Consensus 6.55%
S. Africa Oct Private Sector Credit Up 7.28% Vs. 6.19% In Sep, Consensus 6.55%
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147304/
*S. Africa Oct M3 Up 7.28% On Year Vs. 6.14% In September
S. Africa Oct M3 Up 7.28% On Year Vs. 6.14% In September
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147303/
*Estonia Sept Retail Sales S.a Flat On Month
Estonia Sept Retail Sales S.a Flat On Month
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source http://www.mt5.com/forex_news/quickview/2147302/
*Estonia Sept Retail Sales Up 4.0% On Year
Estonia Sept Retail Sales Up 4.0% On Year
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147301/
Brexit Briefing: DUP Rejects UK Government's Brexit Deal
Northern Ireland’s Democratic Unionist Party has launched its General Election manifesto, opposing key elements of the deal agreed between UK Prime Minister Boris Johnson and the EU. Via DailyFX - Market News https://ift.tt/2NYYHlE
US Dollar, Rupee Forecast: USD/INR and Nifty Brace for India GDP
The USD/INR uptrend may resume as India GDP slows to a 2013 low on a teetering banking sector that threatens the Nifty 50. The Rupee has struggled despite US-China trade deal bets. Via DailyFX - Market News https://ift.tt/2NYYHlE
Japan Industrial Output Declines More Than Expected
Japan's industrial production declined more than expected in October signaling a notable contraction in GDP during the fourth quarter, official data revealed Friday. The unemployment rate remained unchanged as expected in October, a separate communiqu? showed today.
According to preliminary data from the Ministry of Economy, Trade and Industry, industrial production plunged 4.2 percent month-on-month in October, in contrast to September's 1.7 percent increase. Economists had forecast a moderate decrease of 2 percent.
On a yearly basis, industrial production decreased sharply by 7.4 percent after rising 1.3 percent a month ago. Output was forecast to fall 5.2 percent.
Further, data showed that manufacturers expect to cut production by 1.5 percent in November but to lift output by 1.1 percent in December.
The sharp fall in industrial production in October suggests the economy might have been hit harder by the sales tax hike than expected, Tom Learmouth, an economist at Capital Economics, said.
The economist suspects the output gap would have to turn negative to convince the Bank of Japan to ease further, something a slight rise in unemployment couldn't achieve on its own.
Data from the Ministry of Internal Affairs and Communications the unemployment rate held steady at seasonally adjusted 2.4 percent in October. The rate matched economists' expectations.
The job-to-applicant ratio was also stable at 1.57 percent in October.
Another report showed that Tokyo core consumer prices excluding fresh food rose 0.6 percent annually in November and consumer prices excluding fresh food and energy gained 0.7 percent.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147296/
*Japan Nov Consumer Confidence 38.7 Vs. 36.3 In Oct, Consensus 37.0
Japan Nov Consumer Confidence 38.7 Vs. 36.3 In Oct, Consensus 37.0
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147295/
*Japan Oct Housing Starts -7.4% On Year Vs. -4.9% In Sept, Consensus -7.4%
Japan Oct Housing Starts -7.4% On Year Vs. -4.9% In Sept, Consensus -7.4%
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147294/
European Economics Preview: Germany Unemployment Data Due
Unemployment from Germany and euro area are due on Friday, headlining a busy day for the European economic news.
At 2.00 am ET, Destatis is scheduled to issue Germany retail sales and unemployment data for October. Economists forecast sales to grow 0.2 percent on month, following a 0.1 percent rise in September.
At 2.45 am ET, France's Insee publishes final GDP data for the third quarter. The statistical office is set to confirm 0.3 percent sequential growth. Flash inflation, producer prices and consumer spending figures are also due.
At 3.00 am ET, third quarter GDP figures are due from Hungary and the Czech Republic. Half an hour later, Statistics Sweden publishes third quarter GDP data. Economists forecast the economy to grow 0.2 percent sequentially.
At 3.55 am ET, Germany's unemployment data for November is due. The number of unemployed is forecast to increase by 5,000 after rising 6,000 in October.
At 4.30 am ET, the Bank of England is scheduled to issue mortgage approvals for October. Economists forecast mortgage approvals to fall to 65,400 from 65,900 in the previous month.
At 5.00 am ET, Eurostat is slated to publish flash inflation and unemployment figures. Eurozone inflation is seen rising to 0.9 percent in November from 0.7 percent in October. The jobless rate is forecast to remain unchanged at 7.5 percent.
At 6.00 am ET, Italy's revised GDP data is due. Economists expect the statistical office to confirm 0.1 percent quarterly growth for the third quarter.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147293/
Bank Of Korea Keeps Rate On Hold
The Bank of Korea retained its benchmark interest rate on Friday after lowering it twice this year.
The Monetary Policy Board of the Bank of Korea decided to maintain the base rate at 1.25 percent. The bank had reduced the rate by 25 basis points each in July and October.
The Board said it will maintain its accommodative monetary policy stance. In this process, the bank said it will judge whether to adjust the degree of monetary policy accommodation, while carefully monitoring developments in the US-China trade negotiations.
GDP is forecast to grow at around 2 percent in 2019 and the lower-2 percent level in 2020.
The bank expects the sluggishness in exports and facilities investment to ease somewhat and the consumption growth rate to moderately rise. However, the adjustment in construction investment will continue.
Looking ahead, inflation is forecast to moderately increase to around 1 percent and core inflation to be at the upper-zero percent level. The central bank targets 2 percent inflation for this year.
With growth set to stay subdued and inflation likely to remain weak, the bank is likely to cut rate by another 25 basis points, probably at the next meeting in January, Alex Holmes, an economist at Capital Economics, said.
A cut to 1.00 percent would start to raise questions about whether the central bank is approaching the limits of what can be achieved through conventional policy, Holmes noted.
Elsewhere, official data showed that industrial production decreased 0.4 percent on month in October, the same pace of drop as seen in September. On a yearly basis, production fell 0.5 percent.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147292/
Gold Prices Up, Markets Fret China Response To US Hong Kong Bills
Gold prices benefited from weaker risk appetite and softer risk appetite as Hong Kong continues to glower over US-China trade prospects. Via DailyFX - Market News https://ift.tt/2NYYHlE
UK GfK Consumer Confidence Remains Stable In November
UK consumer sentiment remained unchanged in November, survey results from the market research group GfK showed Friday.
The consumer sentiment index held steady at -14. The score matched economists' expectations.
"In the face of Brexit and election uncertainty, consumers are clearly in a 'wait-and-see' mode," Joe Staton, client strategy director at GfK, said.
"The general election is potentially an opportunity to move us out of the doldrums - but for this to happen there must be a clear result," Staton added. "A hung parliament could be very damaging for consumer confidence and would surely deepen the obvious malaise that we see month after month."
Among sub-indices, the index measuring changes in personal finances over the last twelve months decreased one point to zero. The forecast for personal finances was unchanged at +1 in November.
The measure for the past general economic situation of the country fell one point to -34. Expectations for the general economic situation over the next 12 months gained three points to -34.
The major purchase index dropped one point to zero in November. Likewise, the savings index decreased three points to +18.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147291/
How Crude Oil Prices React to Weather-Induced Disruption Fears
With increasing volatility in weather patterns, how might storms, hurricanes and floods rattle the supply chain for petroleum-based products and impact crude oil prices? Via DailyFX - Market News https://ift.tt/2NYYHlE
Australian Dollar Could Fall Sharply if RBA QE Becomes 'Live'
The Australian Dollar has wilted through November partly thanks to its lack of monetary policy support. At least one major domestic bank thinks it has even less than markets reckon. Via DailyFX - Market News https://ift.tt/2NYYHlE
How to Trade the Impact of Politics on Global Financial Markets
As the global economy continues to contract, the risk of geopolitical threats undermining financial and economic stability are rising, leaving the door open to violent volatility – and trading oppo... Via DailyFX - Market News https://ift.tt/2NYYHlE
Thursday, 28 November 2019
Crude Oil Prices Hit By Stock Build, China Eyed as Trump Backs HK
Crude oil prices were already struggling with news of record UK weekly production when Donald Trump sapped risk appetite by signing support for human rights in Hong Kong into law. Via DailyFX - Market News https://ift.tt/2NYYHlE
Trump Policies Invite Inflation But Gold Prices May Fall Anyway
Gold prices may fall while the US Dollar gains even as economic policies championed by the Trump administration invite inflation. Via DailyFX - Market News https://ift.tt/2NYYHlE
UK Car Production Declines As Uncertainty Mounts: SMMT
UK car production declined in October as the automotive sector counts the cost of uncertainty, the Society of Motor Manufacturers and Traders, or SMMT, reported Thursday.
Car manufacturing output dropped 4 percent year-on-year in October. Production decreased in 16 out of the last 17 months. Data showed that 134,752 units rolled off production lines in October.
Production for domestic market declined 10.7 percent and that for exports were down 2.6 percent.
SMMT said model changeovers also played a part in the downturn, while in the year to date car production plunged 14.4 percent to 1.12 million units, with the majority of 80.5 percent, heading abroad to destinations around the world.
Mike Hawes, SMMT Chief Executive, said, "Yet another month of falling car production makes these extremely worrying times for the sector."
"This sector is export led, already shipping cars to more than 160 countries, and in a period of unprecedented change a close trading relationship with the EU and preferential trading with all these other markets will be essential to keep automotive in Britain," Hawes added.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147217/
Euro Forecast: On Weak Footing as November Winds Down; No ECB Rate Cuts Due
The Euro has lost modest ground thus far in November, even as ECB rate cut expectations have evaporated for the next 12-months. Via DailyFX - Market News https://ift.tt/2NYYHlE
Australia Capex Slips 0.2% In Q3
Private capital expenditure in Australia was down a seasonally adjusted 0.2 percent on quarter in the third quarter of 2019, the Australian Bureau of Statistics said on Thursday - worth A$29.413 billion.
That missed expectations for a flat reading following the 0.6 percent drop in the three months prior.
On a yearly basis, capex sank 1.3 percent.
Capex for buildings and structures rose 2.7 percent on quarter and fell 0.3 percent on year to A$15.853 billion, while capex for equipment, plant and machinery sank 3.5 percent on quarter and 2.4 percent on year to A$13.560 billion.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147216/
*Australia Private Capital Expenditure -0.2% On Quarter In Q3
Australia Private Capital Expenditure -0.2% On Quarter In Q3
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147215/
*New Zealand Business Confidence -26.4 In November; Activity Outlook +12.9 - ANZ
New Zealand Business Confidence -26.4 In November; Activity Outlook +12.9 - ANZ
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147214/
Japan Retail Sales Tumble 14.4% In October
Retail sales in Japan plunged a seasonally adjusted 14.4 percent on month in October, the Ministry of Economy, Trade and Industry said on Thursday.
That missed expectations for a decline of 10.4 percent following the 7.2 percent increase in September.
On a yearly basis, retail sales sank 7.1 percent - also missing forecasts for a drop of 3.8 percent following the 9.2 percent jump in the previous month.
Large retailer sales dropped 8.2 percent versus expectations for a decline of 7.1 percent following the 10.0 percent spike a month earlier.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147213/
*Japan Large Retailer Sales -8.2% On Year In October
Japan Large Retailer Sales -8.2% On Year In October
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147212/
*Japan Retail Sales -7.1% On Year In October
Japan Retail Sales -7.1% On Year In October
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147211/
Swiss Franc Looks Nervously to GDP, Trade War HIt Expected
The Swiss Franc has seen underlying weakness on many fronts , but evidence that trade tensions are hampering its home economy are unlikely to help. Via DailyFX - Market News https://ift.tt/2NYYHlE
Euro Forecast: EUR/USD Selloff Ahead of Key EU, German Data?
EUR/USD is on the verge of breaking below key support which may precede an aggressive selloff. Eurozone confidence data and German CPI statistics may be the catalysts. Via DailyFX - Market News https://ift.tt/2NYYHlE
Japan Retail Sales Data Due On Thursday
Japan will on Thursday release October numbers for retail sales, highlighting a modest day for Asia-Pacific economic activity.
Retail sales are expected to sink 10.4 percent on month and 3.8 percent on year after jumping 7.1 percent on month and 9.1 percent on year in September. Large retailer sales are called lower by an annual 7.1 percent after soaring 10 percent in the previous month.
Australia will provide Q3 data for private capital expenditure, with forecasts suggesting a flat quarterly reading following the 0.5 percent drop in the three months prior.
New Zealand will see November results for the business confidence index and activity outlook from ANZ. In October, the confidence index was at -42.4 and the outlook was at -3.5.
Malaysia will release October figures for producer prices; in September, prices were up 0.7 percent on month and down 2.4 percent on year.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147210/
U.S. Dollar Moves Higher Following Slew Of Economic Data
With traders reacting to a slew of U.S. economic data, the value of the U.S. dollar moved to the upside during trading on Wednesday.
The dollar is currently trading at 109.55 yen compared to the 109.05 yen it fetched at the close of New York trading on Tuesday. Against the euro, the dollar is trading at $1.1001 compared to yesterday's $1.1021.
The strength in the dollar came following the release of some upbeat economic data, including a Commerce Department report showing durable goods orders unexpectedly rebounded in the month of October.
The Commerce Department said durable goods orders climbed by 0.6 percent in October after plunging by a revised 1.4 percent in September.
Economists had expected durable goods orders to decrease by 0.8 percent compared to the 1.2 percent slump that had been reported for the previous month.
Separately, revised data released by the Commerce Department showed the U.S. economy grew by more than initially estimated in the third quarter.
The Commerce Department said real gross domestic product jumped by 2.1 percent in the third quarter compared to the previously estimated 1.9 percent increase. Economists had expected the pace of GDP growth to be unrevised.
The stronger than previous estimated growth reflected upward revisions to private inventory investment, non-residential fixed investment, and consumer spending.
Meanwhile, the National Association of Realtors released a report unexpectedly showing a sharp pullback in U.S. pending home sales in the month of October.
NAR said its pending home sales index plunged by 1.7 percent to 106.7 in October after surging up by 1.4 percent to a revised 108.6 in September.
Economists had expected pending home sales to climb by 0.8 percent compared to the 1.5 percent jump originally reported for the previous month.
A pending home sale is one in which a contract was signed but not yet closed. Normally, it takes four to six weeks to close a contracted sale.
The Commerce Department also released a separate report showing U.S. personal income came in nearly flat in the month of October, although personal spending rose in line with economist estimates.
Late in the trading day, the Federal Reserve released its Beige Book, which said U.S. economic activity expanded modestly from October through mid-November.
The Beige Book, a compilation of anecdotal evidence on economic conditions in the twelve Fed districts, noted economic growth continued at a similar pace to the prior reporting period.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147209/
Silver Prices Outlook Bullish After Trump Signs Hong Kong Bill
Silver prices may have a bullish session ahead after Trump signed a controversial bill supporting the Hong Kong protests which may catalyze an upside breakout in XAG/USD Via DailyFX - Market News https://ift.tt/2NYYHlE
Gold Price May Attempt to Break Out Amid Failure to Test Monthly Low
The price of gold may attempt to break out of the range bound price action from earlier this week as the precious metal holds above the monthly low ($1446). Via DailyFX - Market News https://ift.tt/2NYYHlE
USD/JPY, AUD/USD, NZD/USD Brace. Trump Signs HK Bill in Thin Trade
The USD/JPY, AUD/USD and NZD/USD dropped after Donald Trump signed the HK Bill, fueling trade war woes. Volatility may be amplified by the US Thanksgiving holiday and low liquidity. Via DailyFX - Market News https://ift.tt/2NYYHlE
Oil Prices Pull Back On Unexpected Increase In Inventories
Oil prices moved to the downside during trading on Wednesday, giving back ground after moving higher over the two previous sessions.
Crude for January delivery climbed well off its lows of the session but still fell $0.30 or 0.5 percent to $58.11 a barrel.
The pullback by oil prices came after the Energy Information Administration released a report unexpectedly showing a weekly increase in crude oil inventories.
The report said crude oil inventories rose by 1.6 million barrels in the week ended November 22nd compared to economist estimates for a decrease of about 0.3 million barrels.
The EIA said gasoline inventories also surged up by 5.1 million barrels during the week, while distillate fuel inventories increased by 0.7 million barrels.
Meanwhile, the upcoming Thanksgiving Day holiday pushed forward several U.S. economic reports, leading to an avalanche of data that painted a mixed picture.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147208/
Treasuries Give Back Ground Following Upbeat Data
After moving to the upside over the two previous sessions, treasuries gave back some ground during trading on Wednesday.
Bond prices came under pressure early in the session and remained firmly negative throughout the day. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, rose by 2.7 basis points to 1.767 percent.
The early pullback by treasuries came following the release of some upbeat U.S. economic data, including a Commerce Department report showing durable goods orders unexpectedly rebounded in the month of October.
The Commerce Department said durable goods orders climbed by 0.6 percent in October after plunging by a revised 1.4 percent in September.
Economists had expected durable goods orders to decrease by 0.8 percent compared to the 1.2 percent slump that had been reported for the previous month.
Separately, revised data released by the Commerce Department showed the U.S. economy grew by more than initially estimated in the third quarter.
The Commerce Department said real gross domestic product jumped by 2.1 percent in the third quarter compared to the previously estimated 1.9 percent increase. Economists had expected the pace of GDP growth to be unrevised.
The stronger than previous estimated growth reflected upward revisions to private inventory investment, non-residential fixed investment, and consumer spending.
Meanwhile, the National Association of Realtors released a report unexpectedly showing a sharp pullback in U.S. pending home sales in the month of October.
NAR said its pending home sales index plunged by 1.7 percent to 106.7 in October after surging up by 1.4 percent to a revised 108.6 in September.
Economists had expected pending home sales to climb by 0.8 percent compared to the 1.5 percent jump originally reported for the previous month.
A pending home sale is one in which a contract was signed but not yet closed. Normally, it takes four to six weeks to close a contracted sale.
The Commerce Department also released a separate report showing U.S. personal income came in nearly flat in the month of October, although personal spending rose in line with economist estimates.
Late in the trading day, the Federal Reserve released its Beige Book, which said U.S. economic activity expanded modestly from October through mid-November.
The Beige Book, a compilation of anecdotal evidence on economic conditions in the twelve Fed districts, noted economic growth continued at a similar pace to the prior reporting period.
Traders largely shrugged of the results of the Treasury Department's auction of $32 billion worth of seven-year notes, which attracted average demand.
The seven-year note auction drew a high yield of 1.719 percent and a bid-to-cover ratio of 2.44, while the ten previous seven-year note auctions had an average bid-to-cover ratio of 2.43.
The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.
The Treasury revealed earlier this week that its auctions of $40 billion worth of two-year notes and $41 billion worth of five-year notes both attracted above average demand.
Following the Thanksgiving Day holiday on Thursday, trading activity is likely to remain subdued on Friday amid a lack of major U.S. economic data and an early close for the markets.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147207/
Gold Prices Give Back Ground In Light Pre-Holiday Trading
Gold prices moved notably lower over the course of the trading day on Wednesday, more than offsetting the increase seen in the previous session.
After rising $3.40 to $1,460.30 an ounce on Tuesday, gold for December delivery slid $6.90 or 0.5 percent to $1,453.40 an ounce.
With the decrease on the day, gold for December delivery ended the session at its lowest closing level in nearly four months.
The more actively traded gold for February delivery fell $6.60 or 0.4 percent to $1,460.80 an ounce after climbing $3.60 to $1,467.40 an ounce on Tuesday.
Continued optimism about a U.S.-China trade weighed on the price of gold, as traders moved out of the safe haven amid expectations the two economic superpowers will eventually reach an agreement.
Trading activity was somewhat subdued, however, with some traders looking to get a head start on the Thanksgiving Day holiday on Thursday.
The upcoming holiday pushed forward several U.S. economic reports, leading to an avalanche of data that painted a mixed picture.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147206/
Fed's Beige Book Says U.S. Economy Continues To Expand At Modest Pace
U.S. economic activity expanded modestly from October through mid-November, according to the Federal Reserve's Beige Book.
The Beige Book, a compilation of anecdotal evidence on economic conditions in the twelve Fed districts, noted economic growth continued at a similar pace to the prior reporting period.
The report is typically released about two weeks before the next monetary policy meeting and will be used by Fed officials to make their decision on interest rates at a meeting set for December 10-11.
The central bank is widely expected to leave rates unchanged after three straight rate cuts, with CME Group's FedWatch Tool currently indicating a 94.8 percent chance the Fed will keep rates unchanged.
The Fed said most districts reported stable to moderately growing consumer spending, with several districts seeing increases in auto sales and tourism.
Meanwhile, a majority of districts continued to experience no growth in manufacturing, although more districts reported an expansion in the current period than the previous one.
The Beige Book said employment continued to rise slightly overall, even as labor markets remained tight across the U.S.
Several districts noted relatively strong job gains in professional and technical services as well as healthcare, the Fed added.
With regard to inflation, the report noted that prices rose at a modest pace during the reporting period, as firms' ability to raise prices to cover higher costs remained limited.
However, a few districts noted that companies affected by higher tariffs were more inclined to pass the cost increases on to customers.
The Beige Book said the outlooks generally remained positive, with some contacts expecting the current pace of growth to continue into next year.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147205/
GBP/USD: British Pound Spikes as YouGov Poll Predicts Tory Majority
The British Pound surged above the 1.2920 mark to print fresh intraday highs after the latest UK election poll predicted Boris Johnson's Conservative Party will hold a commanding 68-seat majority. Via DailyFX - Market News https://ift.tt/2NYYHlE
S&P 500 Trading to Pick Up Following Thanksgiving Week
A shortened holiday trading week will likely give rise to increased volume and range next week as traders mull Black Friday data Via DailyFX - Market News https://ift.tt/2NYYHlE
Wednesday, 27 November 2019
RBNZ To Intensify Supervisory Strategy Over Financial Institutions
The Reserve Bank of New Zealand said the bank will review its supervisory strategy and take a more intensive approach that would involve greater scrutiny of financial institutions.
Releasing the November Financial Stability Report on Wednesday, Deputy Governor Geoff Bascand said good governance and robust risk management processes within financial institutions are important to maintain long term resilience.
However, recent reviews of banks and life insurers underscored the importance to improve their behavior.
"We are engaging with industry to ensure that they strengthen their own assurance processes and controls," he said. "We have also reviewed our own supervisory strategy and will be taking a more intensive approach, which will involve greater scrutiny of institutions' compliance."
Governor Adrian Orr said financial system vulnerabilities remain elevated and more effort is required to ensure that the system remains resilient over the longer-term.
As the Loan-to-Value Ratio, or LVR, restrictions have been successful in reducing the more excessive household mortgage lending, the bank decided to leave the LVR restrictions at current levels at this point in time, Orr added.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147128/
*Finland Nov Consumer Confidence -5.0 Vs. -6.6 In October
Finland Nov Consumer Confidence -5.0 Vs. -6.6 In October
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147127/
South Korea Consumer Confidence At 7-Month High
South Korea consumer confidence strengthened to a seven-month high in November, survey results from the Bank of Korea showed on Wednesday.
The consumer sentiment index rose to 100.9 in November from 98.6 in October. This was the highest score since last April, when it was 101.6.
The indicator for consumer sentiment regarding current living standards was unchanged, at 92, while that concerning the future outlook for living standards gained two points to 95.
Consumer sentiment related to future household income increased to 99, and that concerning future spending rose one point to 109.
The index for current domestic economic conditions climbed one points to 73, and the future domestic economic conditions indicator moved up four points to 81.
The expected inflation rate for the coming year remained steady at 1.7 percent.
The survey was conducted among 2,350 households between November 11 and 18.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147126/
DAX and FTSE 100 Technical Forecast: Risk of Reversal
DAX upside appears exhausted as the RSI heads lower, while the FTSE 100 faces its first significant test. Via DailyFX - Market News https://ift.tt/2NYYHlE
European Economics Preview: France Consumer Confidence Data Due
Consumer confidence from France is due on Wednesday, headlining a light day for the European economic news.
At 1.00 am ET, consumer and manufacturing confidence survey results are due from Finland.
At 2.00 am ET, Germany's Destatis is scheduled to issue import prices for October. Import prices are forecast to fall 3.5 percent on year, following a 2.5 percent decrease in September.
At 2.45 am ET, France's Insee is scheduled to issue consumer sentiment for November. The consumer confidence index is expected to fall to 100 in November from 104 in October.
At 3.00 am ET, unemployment data is due from Hungary. The jobless rate is seen at 3.5 percent in October, unchanged from September.
Half an hour later, Statistics Sweden publishes foreign trade data for October.
At 4.00 am ET, Italy's Istat publishes consumer and business confidence survey results. The consumer sentiment index is forecast to remain unchanged at 111.7 in November.
In the meantime, Poland's unemployment data is due. Economists forecast the jobless rate to remain unchanged at 5.1 percent in October.
Also, Austria's manufacturing Purchasing Managers' survey data is due.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147125/
Australia Construction Work Done Falls Less Than Expected
Australia's construction work done declined less than expected in the September quarter, data from the Australian Bureau of Statistics showed Wednesday.
Construction work done decreased 0.4 percent sequentially in the third quarter compared to the expected fall of 1 percent. On a yearly basis, the value of construction work done declined 7 percent.
Within total work, building work dropped 0.5 percent and residential work declined 3.1 percent. Engineering work fell 0.2 percent. Partially offsetting these declines, non-residential work done grew 4 percent.
The construction sector is in a cyclical downturn led by the housing sector, where conditions have swung from boom-to-bust, Andrew Hanlan, an economist at Westpac said. Public investment will be supportive of growth over the near-term, with governments continuing to commit to additional projects, the economist added.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147124/
China Industrial Profits Decline In October
China's industrial profits declined at a faster pace in October largely due to falling producer prices and slowdown in production and sales growth, data from the National Bureau of Statistics showed Wednesday.
Industrial profits decreased 9.9 percent on a yearly basis in October, following a 5.3 percent decrease in September. This was the third consecutive decrease.
During January to October, industrial profits logged an annual fall of 2.9 percent. Profits had decreased 2.1 percent in January to September period.
In the first ten months of October, profits in the manufacturing sector contracted 4.9 percent, while that in mining grew 2.4 percent. Profits in the utility sector surged 14.4 percent.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147123/
US Dollar Eyes PCE, GDP Data as S&P 500 Shows Signs of Topping
The US Dollar along with equity markets will be closely watching the release of key data and how it may impact the Fed outlook right as the S&P 500 registers another all-time high. Via DailyFX - Market News https://ift.tt/2NYYHlE
Gold Prices Fall as US-China Trade Hopes Hold Up, US Data Eyed
Gold prices struggled through the Asian session as risk appetite held up. Investors saw some chance of an interim trade deal between Washington and Beijing. Via DailyFX - Market News https://ift.tt/2NYYHlE
AUD/USD Exposed to Dovish Guidance as RBA Identifies Roadmap for QE
AUD/USD tracks the range-bound price action from earlier this week, but the Australian Dollar may face a more bearish fate as the RBA endorses a dovish forward guidance. Via DailyFX - Market News https://ift.tt/2NYYHlE
Japanese Yen May Fall as Euro Gains, Will GBP/JPY Follow EUR/JPY?
The Japanese Yen is facing selling pressure on US-China trade deal expectations. Sentiment hints that EUR/JPY has room to climb, but can this momentum extend into GBP/JPY? Via DailyFX - Market News https://ift.tt/2NYYHlE
New Zealand Has NZ$1.0 Billion Trade Deficit In October
New Zealand had a merchandise trade deficit of NZ$1.0 billion in October, Statistics New Zealand said on Wednesday.
That was in line with expectations following the NZ$1.242 billion shortfall in September.
Imports were down 1.4 percent on year to NZ$6.0 billion - again matching forecasts after showing NZ$5.71 billion in the previous month.
Exports climbed an annual 4.3 percent to NZ$5.0 billion, in line with expectations and up from NZ$4.47 billion a month earlier.
The annual trade deficit was NZ$5.0 billion in October 2019, down from NZ$5.8 billion in the year ended October 2018.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147122/
*New Zealand Imports -1.4% On Year, Exports +4.3% In October
New Zealand Imports -1.4% On Year, Exports +4.3% In October
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147121/
*New Zealand Trade Deficit NZ$1.0 Billion In October
New Zealand Trade Deficit NZ$1.0 Billion In October
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147120/
New Zealand Trade Data Due On Wednesday
New Zealand will on Wednesday release October numbers for imports, exports and trade balance, highlighting a modest day for Asia-Pacific economic activity.
Imports are expected to be worth NZ$6.0 billion, up from NZ$5.71 billion in September. Exports are called at NZ$5.0 billion, up from NZ$4.47 billion in the previous month. The trade balance is expected to show a deficit of NZ$1.0 billion following the NZ$1.242 billion shortfall a month earlier.
China will provide October numbers for industrial profits; in September, profits were down 5.3 percent on year.
Australia will see Q3 data for construction work done; in the three months prior, construction work was down 3.8 percent on quarter.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147119/
U.S. Dollar Showing Little Change Versus Other Major Currencies
The U.S. dollar has turned in a lackluster performance on Tuesday, showing little change versus other major currencies.
Currently, the dollar is trading at 109.04 yen compared to the 108.93 yen it fetched at the close of New York trading on Monday. Against the euro, the dollar is valued at $1.1025 compared to yesterday's $1.1014.
The choppy trading comes as traders continue to express some uncertainty about a U.S.-China trade deal but largely remain optimistic an agreement will eventually be reached.
A statement from China's Commerce Ministry revealed Chinese Vice Premier Liu He held a phone call with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steve Mnuchin earlier today.
The statement said the two sides discussed how to resolve each other's core concerns, reached consensus on how to resolve related issues, and agreed to maintain communication on the remaining issues in the first phase of agreement negotiations.
On the U.S. economic front, the Conference Board released a report unexpectedly showing a continued drop in consumer confidence in November.
The Conference Board said its consumer confidence index fell to 125.5 in November from an upwardly revised 126.1 in October.
Economists had expected the consumer confidence index to inch up to 126.9 from the 125.9 originally reported for the previous month.
"Consumer confidence declined for a fourth consecutive month, driven by a softening in consumers' assessment of current business and employment conditions," said Lynn Franco, Senior Director of Economic Indicators at The Conference Board.
"However, consumers' short-term expectations improved modestly, and growth in early 2020 is likely to remain at around 2 percent," she added. "Overall, confidence levels are still high and should support solid spending during this holiday season."
A separate report from the Commerce Department showed new home sales pulled back from a significantly upwardly revised level in October.
The Commerce Department said new home sales fell by 0.7 percent to an annual rate of 733,000 in October after surging up by 4.5 percent to an upwardly revised rate of 738,000 in September.
Economists had expected new home sales to jump by 1.1 percent to a rate of 709,000 from the 701,000 originally reported for the previous month.
With the upward revision, new home sales in September were at their highest level since hitting 778,000 in July of 2007.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147118/
USD/CAD Rate Fails to Test October, RSI to Offer Bearish Signal
The Relative Strength Index (RSI) may offer a bearish signal for USD/CAD as the oscillator threatens the upward trend from earlier this month. Via DailyFX - Market News https://ift.tt/2NYYHlE
Australian Dollar Slips as China Industrial Profits Tank Again
The Australian Dollar is like all other markets focused on US-China trade headlines. However terrible weakness in Chinese industrial profits set it back. Via DailyFX - Market News https://ift.tt/2NYYHlE
USD/JPY Climb Resumes on US-China Trade Deal Bets, GBP/USD Sinks
The USD/JPY rose and may continue climbing as US-China trade deal bets boosted the S&P 500. This is as the British Pound fell against the US Dollar on UK General Election polling. Via DailyFX - Market News https://ift.tt/2NYYHlE
Crude Oil Prices Extend Yesterday's Move To The Upside
After ending the previous session modestly higher, the price of crude oil saw some further upside during trading on Tuesday.
Crude for January delivery climbed $0.40 to $48.41 a barrel after ending Monday's trading up $0.24 at $58.01 a barrel.
The price of crude oil benefited from persistent optimism that the U.S.-China will ultimately reach an agreement to end their long-running trade dispute.
A statement from China's Commerce Ministry revealed Chinese Vice Premier Liu He held a phone call with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steve Mnuchin earlier Tuesday.
The statement said the two sides discussed how to resolve each other's core concerns, reached consensus on how to resolve related issues, and agreed to maintain communication on the remaining issues in the first phase of agreement negotiations.
Traders were also looking ahead to reports on weekly oil inventories, with the Energy Information Administration's report on Wednesday expected to show a modest drop in crude oil inventories in the week ended November 22nd.
On the U.S. economic front, the Conference Board released a report unexpectedly showing a continued drop in consumer confidence in November.
The Conference Board said its consumer confidence index fell to 125.5 in November from an upwardly revised 126.1 in October.
Economists had expected the consumer confidence index to inch up to 126.9 from the 125.9 originally reported for the previous month.
"Consumer confidence declined for a fourth consecutive month, driven by a softening in consumers' assessment of current business and employment conditions," said Lynn Franco, Senior Director of Economic Indicators at The Conference Board.
"However, consumers' short-term expectations improved modestly, and growth in early 2020 is likely to remain at around 2 percent," she added. "Overall, confidence levels are still high and should support solid spending during this holiday season."
A separate report from the Commerce Department showed new home sales pulled back from a significantly upwardly level in October.
The Commerce Department said new home sales fell by 0.7 percent to an annual rate of 733,000 in October after surging up by 4.5 percent to an upwardly revised rate of 738,000 in September.
Economists had expected new home sales to jump by 1.1 percent to a rate of 709,000 from the 701,000 originally reported for the previous month.
With the upward revision, new home sales in September were at their highest level since hitting 778,000 in July of 2007.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147117/
Treasuries Move To The Upside Amid Lingering Uncertainty About Trade Deal
After turning higher over the course of the previous session, treasuries extended the upward move during trading on Tuesday.
Bond prices showed an initial move to the upside and remained positive throughout the session. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, dipped 2.4 basis points to 1.740 percent.
Treasuries benefited from their appeal as a safe haven amid lingering uncertainty about a potential U.S.-China trade deal.
A statement from China's Commerce Ministry revealed Chinese Vice Premier Liu He held a phone call with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steve Mnuchin earlier Tuesday.
The statement said the two sides discussed how to resolve each other's core concerns, reached consensus on how to resolve related issues, and agreed to maintain communication on the remaining issues in the first phase of agreement negotiations.
Treasuries remained positive following the release of the results of the Treasury Department's auction of $41 billion worth of five-year notes, which attracted above average demand.
The five-year note auction drew a high yield of 1.587 percent and a bid-to-cover ratio of 2.50, while the ten previous five-year note auctions had an average bid-to-cover ratio of 2.38.
The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.
On the U.S. economic front, the Conference Board released a report unexpectedly showing a continued drop in consumer confidence in November.
The Conference Board said its consumer confidence index fell to 125.5 in November from an upwardly revised 126.1 in October.
Economists had expected the consumer confidence index to inch up to 126.9 from the 125.9 originally reported for the previous month.
"Consumer confidence declined for a fourth consecutive month, driven by a softening in consumers' assessment of current business and employment conditions," said Lynn Franco, Senior Director of Economic Indicators at The Conference Board.
"However, consumers' short-term expectations improved modestly, and growth in early 2020 is likely to remain at around 2 percent," she added. "Overall, confidence levels are still high and should support solid spending during this holiday season."
A separate report from the Commerce Department showed new home sales pulled back from a significantly upwardly level in October.
The Commerce Department said new home sales fell by 0.7 percent to an annual rate of 733,000 in October after surging up by 4.5 percent to an upwardly revised rate of 738,000 in September.
Economists had expected new home sales to jump by 1.1 percent to a rate of 709,000 from the 701,000 originally reported for the previous month.
With the upward revision, new home sales in September were at their highest level since hitting 778,000 in July of 2007.
Looking ahead, the Treasury is due to announce the results of its auction of $32 billion worth of seven-year notes on Wednesday.
Trading on Wednesday may also be impacted by reaction to a slew of U.S. economic data, including reports on weekly jobless claims, durable goods orders, personal income and spending and pending home sales.
The Federal Reserve is also due to release its Beige Book, a compilation of anecdotal evidence on economic conditions in the twelve Fed districts.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147116/
Gold Prices Show Moderate Move Back To The Upside
Gold priced moved moderately higher over the course of the trading day on Tuesday, partly offsetting the drop seen in the previous session.
The price of gold for December delivery rose $3.40 to $1,460.30 an ounce after sliding $6.70 to $1,456.90 an ounce in the previous session.
Gold benefited from its appeal as a safe haven amid lingering uncertainty about a potential U.S.-China trade deal.
A statement from China's Commerce Ministry revealed Chinese Vice Premier Liu He held a phone call with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steve Mnuchin earlier Tuesday.
The statement said the two sides discussed how to resolve each other's core concerns, reached consensus on how to resolve related issues, and agreed to maintain communication on the remaining issues in the first phase of agreement negotiations.
On the U.S. economic front, the Conference Board released a report unexpectedly showing a continued drop in consumer confidence in November.
The Conference Board said its consumer confidence index fell to 125.5 in November from an upwardly revised 126.1 in October.
Economists had expected the consumer confidence index to inch up to 126.9 from the 125.9 originally reported for the previous month.
"Consumer confidence declined for a fourth consecutive month, driven by a softening in consumers' assessment of current business and employment conditions," said Lynn Franco, Senior Director of Economic Indicators at The Conference Board.
"However, consumers' short-term expectations improved modestly, and growth in early 2020 is likely to remain at around 2 percent," she added. "Overall, confidence levels are still high and should support solid spending during this holiday season."
A separate report from the Commerce Department showed new home sales pulled back from a significantly upwardly level in October.
The Commerce Department said new home sales fell by 0.7 percent to an annual rate of 733,000 in October after surging up by 4.5 percent to an upwardly revised rate of 738,000 in September.
Economists had expected new home sales to jump by 1.1 percent to a rate of 709,000 from the 701,000 originally reported for the previous month.
With the upward revision, new home sales in September were at their highest level since hitting 778,000 in July of 2007.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147115/
US Dollar Outlook: FOMC Bets & GDP Data Eyed – Volatility Amiss?
US Dollar outlook hinges on changes in FOMC rate cut expectations as traders react to the latest US-China trade talk headlines, Fed official commentary and high-impact economic data releases. Via DailyFX - Market News https://ift.tt/2NYYHlE
Tuesday, 26 November 2019
Singapore Industrial Production Rises Unexpectedly In October
Singapore's industrial production increased unexpectedly in October, data from the Economic Development Board showed on Tuesday.
Industrial production grew 4.0 percent year-on-year in October, following a 0.7 percent rise in September. Economists had expected a 1.4 percent fall.
Excluding biomedical, industrial production rose 0.2 percent annually in October. Biomedical cluster logged a sharp growth of 24.0 percent.
On a month-on-month basis, manufacturing output rose 3.4 percent in October, after a 4.0 percent increase in September. Economists had forecast a 0.6 percent rise.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147073/
*Finland Oct Jobless Rate 6.2% Vs. 6.3% In Last Year
Finland Oct Jobless Rate 6.2% Vs. 6.3% In Last Year
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147072/
Brexit Briefing: Debate to Continue for Months Says Former Deputy PM
Hopes that the UK General Election will put an end to the Brexit wrangling are misplaced, according to former Conservative Deputy Prime Minister Michael Heseltine. Via DailyFX - Market News https://ift.tt/2NYYHlE
*Singapore Oct Industrial Production +3.4% M/M Vs. +4.0% In Sept,consensus +0.6%
Singapore Oct Industrial Production +3.4% M/M Vs. +4.0% In Sept,consensus +0.6%
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147071/
*Singapore Oct Industrial Production +4.0% Y/Y Vs. +0.7% In Sept,consensus -1.4%
Singapore Oct Industrial Production +4.0% Y/Y Vs. +0.7% In Sept,consensus -1.4%
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147070/
European Economics Preview: German Consumer Confidence Data Due
Consumer confidence survey data from Germany is due on Tuesday, headlining a light day for the European economic news.
At 1.00 am ET, Statistics Finland releases October unemployment data. The jobless rate had declined to 5.9 percent in September from 6.1 percent in August.
At 2.00 am ET, the market research group Gfk is slated to release German consumer sentiment survey results for December. The forward-looking index is forecast to remain unchanged at 9.6.
In the meantime, Denmark's retail sales data is due.
At 3.30 am ET, Statistics Sweden is scheduled to issue producer prices for October. Producer prices had increased 0.3 percent on year in September.
At 4.30 am ET, mortgage approvals figures are due from the UK Finance.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147069/
RBA's Debelle Says Lower Wage Rise Is New Normal
Reserve Bank of Australia Deputy Governor Guy Debelle said the lower wage growth has become the new normal.
Around 80 percent of firms expect stable wage growth over the year ahead and only about 10 percent anticipate stronger wage increases. "This supports the case that lower wage rises have become the new normal," he said in a speech to Australian Council of Social Service conference, on Tuesday.
"We expect wages growth to remain largely unchanged at its current level over the next couple of years," Debelle said.
The banker noted rising evidence that suggests that wage adjustments of 2-3 percent have become the norm, rather than the 3-4 percent in 2012.
Debelle observed that the surprising strength in labor supply has been one of the factors that contributed to wages growth being slower than expected.
He said the more wages growth is entrenched in the 2-3 percent range, the more likely it is that a sustained period of labor market tightness will be necessary to move away from that.
This increase in labor supply has meant that the strong employment outcomes in recent years has not generated the pick-up in wages growth that might otherwise have occurred, he added.
He concluded that a gradual lift in wages growth would be a welcome development and it is needed for inflation to be sustainably within the 2-3 percent target range.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147068/
Euro Forecast: Firm US Sentiment Data May Push EUR/USD Lower
The Euro may fall against the US Dollar if consumer confidence data from the world’s largest economy leads capital to flow into the haven-linked Greenback, amplifying the decline in EUR/USD. Via DailyFX - Market News https://ift.tt/2NYYHlE
Crude Oil Prices Hold Near Highs, US-China Trade News to Drive
Crude oil prices benefited from generally higher risk appetite in the Asian session as investors hope that at least an interim US-China trade deal can come soon. Via DailyFX - Market News https://ift.tt/2NYYHlE
New Zealand Retail Sales Growth Accelerates In September
New Zealand retail sales grew at a faster pace in the third quarter largely driven by electrical and electronic goods, data from Stats NZ showed Tuesday. Retail sales volume increased by more-than-expected 1.6 percent sequentially in the September quarter, following a 0.2 percent rise in June. Economists had forecast a 0.5 percent rise.
At the same time, retail sales value growth improved to 1.4 percent from 0.7 percent a quarter ago.
Data showed that electrical and electronic goods had the largest increase in volume, up 4.4 percent, following a 5.2 percent rise in the June quarter. The next largest growth was in department stores, up 3.5 percent. Meanwhile, accommodation showed the biggest fall of 1.4 percent.
In value terms, supermarket and grocery stores had the largest increase in the third quarter.
Nine regions had higher retail sales values in the September quarter compared with the June quarter. The Auckland region had the largest rise this quarter, up 1.7 percent.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147067/
EUR/USD Eyes Monthly Low as ECB Reinforces Dovish Forward Guidance
EUR/USD may exhibit a more bearish behavior over the remainder of the week as the exchange rate carves a fresh series of lower highs and lows. Via DailyFX - Market News https://ift.tt/2NYYHlE
US Dollar, Rupee Forecast: USD/INR and Nifty Brace for India GDP
The USD/INR uptrend may resume as India GDP slows to a 2013 low on a teetering banking sector that threatens the Nifty 50. The Rupee has struggled despite US-China trade deal bets. Via DailyFX - Market News https://ift.tt/2NYYHlE
Japan Producer Prices Climb 2.1% On Year In October
Producer prices in Japan surged 2.1 percent on year in October, the Bank of Japan said on Tuesday - handily beating expectations for an increase of 1.8 percent following the 0.5 percent gain in September.
On a monthly basis, producer prices advanced 1.9 percent following the flat reading in the previous month.
Individually, prices were higher for utilities, information and communications, transportation, real estate, rental and financial services.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147066/
*Japan Producer Prices +2.1% On Year In October
Japan Producer Prices +2.1% On Year In October
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147065/
Australian Dollar Could Gain if RBA's Lowe Mulls Monetary Limits
The Australian Dollar has weakened since October, but could pause on the way down if the RBA Governor again wonders how far easy money policy should be taken. The ASX might not welcome such sentiment. Via DailyFX - Market News https://ift.tt/2NYYHlE
Dollar Stays Positive
The U.S. dollar turned in a mixed performance against its major rivals on Monday, even as the dollar index spent much of the day's session in positive territory.
The dollar slipped a bit by mid morning, but recovered swiftly and stayed above the flat line thereafter amid optimism the U.S. and China will sign an interim trade deal by the end of the year.
A tabloid run by China's ruling Communist Party discounted "negative" media reports and said the economic superpowers are "very close" to a phase one deal.
The state-backed Global Times said on Twitter that China also remains committed to continuing talks for a phase two or even a phase three deal with the United States.
China has offered to raise penalties on intellectual property violations in an attempt to hammer out a partial trade deal with the United States.
U.S. national security adviser Robert O'Brien said an initial trade deal was still possible by the end of the year.
U.S. President Donald Trump and Chinese President Xi Jinping have also recently made positive comments about a potential trade deal despite reports of complications arising that could delay the agreement until next year.
The dollar index eased to 98.17 around mid morning from a high of 98.32, but edged higher soon and was last seen at 98.32, up marginally from previous close.
Against the euro, the dollar was up at $1.1010, compared to Friday's close of $1.021.
German business confidence rose to a four-month high in November, suggesting that the economy is set to continue to expand moderately in the fourth quarter.
The business confidence index rose to 95.0 in November from 94.7 in October, survey data from ifo institute showed.
The institute said the German economy is showing resilience. The largest euro area economy is likely to grow 0.2% in the fourth quarter, the think tank said.
The Pound Sterling was stronger against the greenback, with a unit of Sterling fetching $1.2898, compared with $1.2832 on Friday.
The Japanese Yen was lower by about 0.3% at 108.94 a dollar. The International Monetary Fund downgraded its growth projection for Japan and urged the government to take fiscal policy that supports near-term growth and stimulate price momentum.
According to the concluding statement of the 2019 Article IV mission to Japan, the country's economy is set to expand 0.8% this year, which was slower than the previous forecast of 0.9%.
For 2020, real GDP growth is projected to slow to 0.5%, as external demand remains soft and dampens export-related investment.
The dollar was up slightly against the loonie at 1.3304. Data from Statistics Canada showed wholesale trade in Canada rose 1.0% to $65.1 billion in September, nearly offsetting the 1.2% decline in August.
Sales were up in five of seven sub-sectors, representing 82% of total wholesale sales.
The dollar shed ground against the Aussie and Swiss franc, with the AUD-USD and Dollar-Franc pairs trading at 0.6775 and 0.9969, respectively.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147064/
New Zealand Retail Sales Data Due On Tuesday
New Zealand will on Tuesday release Q3 numbers for retail sales, setting the pace for a modest day in Asia-Pacific economic activity. Sales are expected to add 0.5 percent on quarter after rising 0.2 percent in the three months prior.
Japan will see October figures for producer prices, with forecasts suggesting an increase of 1.8 percent on year - up from 0.5 percent in September.
Hong Kong will release October numbers for imports, exports and trade balance. In September, imports were worth HKD379.33 billion and exports were at HKD347.69 billion for a trade deficit of HKD31.64 billion.
Singapore will provide October figures for industrial production; in September, production was up 3.7 percent on month and 0.1 percent on year.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147063/
Gold to Test Key Price Levels Amid Hopes for US-China Trade Deal
The price of gold may test the former-resistance zone around $1447 (38.2% expansion) to $1457 (100% expansion) for support amid growing hopes for a US-China trade deal. Via DailyFX - Market News https://ift.tt/2NYYHlE
US Dollar, S&P 500 Look to PCE, GDP Data After Powell Speech
The US Dollar, NZD, AUD and the S&PP 500 remained broadly unchanged after Fed Chairman Jerome Powell’s speech as the attention turns to key US data and escalating trade talks. Via DailyFX - Market News https://ift.tt/2NYYHlE
Treasuries Edge Higher After Seeing Initial Weakness
After showing an initial move to the downside, treasuries turned higher over the course of morning trading on Monday.
Bond prices managed to remain modestly positive throughout the afternoon. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, edged down by 1 basis point to 1.764 percent.
The uptick by treasuries came despite strength on Wall Street, with the Nasdaq and the S&P 500 reaching new record intraday highs.
Treasuries may have benefited from lingering uncertainty about a U.S.-China trade agreement even though a tabloid run by China's ruling Communist Party discounted "negative" media reports and said the economic superpowers are "very close" to a phase one deal.
China also remains committed to continuing talks for a phase two or even a phase three deal with the United States, the state-backed Global Times said on Twitter.
President Donald Trump and Chinese President Xi Jinping have also recently made positive comments about a potential trade deal despite reports of complications arising that could delay the agreement until next year.
Treasuries continued to see modest strength after the Treasury Department revealed this month's auction of $40 billion worth of two-year notes attracted slightly above average demand.
The two-year note auction drew a high yield of 1.601 percent and a bid-to-cover ratio of 2.63, while the ten previous two-year note auctions had an average bid-to-cover ratio of 2.59.
The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.
Looking ahead, the Treasury is due to announce the results of its auctions of $41 billion worth of five-year notes on Tuesday.
Trading on Tuesday may also be impacted by reaction to reports on home prices, new home sales, and consumer confidence.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147062/
Oil Futures End Modestly Higher On Trade Deal Hopes
Crude oil prices moved higher on Monday as worries about outlook for energy demand subsided a bit after positive comments from the U.S. and China raised optimism about a phase one trade deal between the two countries.
Expectations that oil output cuts will be extended until mid-2020 by OPEC and allies contributed as well to oil's uptick. The OPEC meeting is scheduled to take place on December 5 in Vienna.
West Texas Intermediate crude oil futures for January ended up $0.24 at $58.01 a barrel.
Brent Crude oil futures settled higher by $0.25 at $63.64 a barrel.
On Friday, WTI crude oil futures for January ended down $0.81, or about 1.4%, at $57.77 a barrel.
There is renewed optimism about a U.S.-China trade agreement after a tabloid run by China's ruling Communist Party discounted "negative" media reports and said the economic superpowers are "very close" to a phase one deal.
The state-backed Global Times said on Twitter that China also remains committed to continuing talks for a phase two or even a phase three deal with the United States.
China has offered to raise penalties on intellectual property violations in an attempt to hammer out a partial trade deal with the United States.
U.S. national security adviser Robert O'Brien said an initial trade deal was still possible by the end of the year.
U.S. President Donald Trump and Chinese President Xi Jinping have also recently made positive comments about a potential trade deal despite reports of complications arising that could delay the agreement until next year.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147061/
Gold Futures Settle Lower
Gold prices edged lower on Monday as riskier assets gained in strength after positive comments from U.S. and China raised optimism the two countries will sign a phase one trade deal by the end of the year.
A somewhat steady dollar too contributed to the yellow metal's weakness.
The dollar Index, which rose to 98.38 in early trades, dropped to a low of 98.20 before recovering to 98.32, gaining marginally over previous close.
Gold futures for December ended down $6.70, or about 0.5%, at $1,456.90 an ounce.
On Friday, gold futures for December ended flat at $1,463.60 an ounce.
Silver futures for December closed down $0.114 at $16.886 an ounce, while Copper futures for December ended at $2.6475 per pound, down slightly from previous close.
There is renewed optimism about a U.S.-China trade agreement after a tabloid run by China's ruling Communist Party discounted "negative" media reports and said the economic superpowers are "very close" to a phase one deal.
The state-backed Global Times said on Twitter that China also remains committed to continuing talks for a phase two or even a phase three deal with the United States.
U.S. national security adviser Robert O'Brien said an initial trade deal was still possible by the end of the year.
U.S. President Donald Trump and Chinese President Xi Jinping have also recently made positive comments about a potential trade deal despite reports of complications arising that could delay the agreement until next year.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147060/
New Zealand Dollar Gains vs Yen But NZD/JPY Momentum Lacking
The New Zealand Dollar gained as the Japanese Yen fell, but failed to achieve meaningful upside technical progress despite seemingly ideal fundamental news. Will Powell sink markets ahead? Via DailyFX - Market News https://ift.tt/2NYYHlE
Monday, 25 November 2019
Finland Producer Prices Fall For Fifth Month
Finland's producer prices declined for the fifth straight month in September, data from Statistics Finland showed on Monday.
The producer price index declined 0.9 percent year-on-year in October, following a 0.6 percent decrease in September.
On a month-on-month basis, producer prices remained unchanged in October, after a 0.5 percent increase in the preceding month.
Data also showed that import and export prices declined 3.3 percent and 1.5 percent, respectively, in October.
On a monthly basis, imports prices fell 0.6 percent and export prices remained unchanged in September.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147014/
*Turkey Nov Capacity Utilization 77.2 Vs. 76.4 In October
Turkey Nov Capacity Utilization 77.2 Vs. 76.4 In October
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147013/
*Turkey Nov Manufacturing Confidence 102.0 Vs. 100.9 In October
Turkey Nov Manufacturing Confidence 102.0 Vs. 100.9 In October
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147012/
*IMF: Japan GDP To Grow 0.8% In 2019, 0.5% In 2020
IMF: Japan GDP To Grow 0.8% In 2019, 0.5% In 2020
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147011/
*IMF: Japan's Inflation To Continue Slow Upward Trend, But Below BoJ's 2% Target
IMF: Japan's Inflation To Continue Slow Upward Trend, But Below BoJ's 2% Target
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147010/
Japan Leading Index Unchanged In September
Japan's leading index remained unchanged in September after falling in the previous month, final data from the Cabinet Office showed on Monday.
The leading index, which measures the future economic activity, came in at 91.9 in September, same as in August. The initial estimate was 92.2.
The coincident index that reflects the current economic activity increased to 101.1 in September from 99.0 in the preceding month. The initially estimated score was 101.0.
The lagging index fell to 104.3 in September from 104.7 in the prior month. The initial estimate was 102.9.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147009/
Singapore Inflation Slows In October
Singapore's consumer price inflation eased in October, data from the Monetary Authority of Singapore and the Ministry of Trade and Industry showed on Monday.
The consumer price index rose 0.4 percent year-on-year in October, after a 0.5 percent increase in September. Economists had expected a 0.5 percent rise.
The slowdown was driven by a steeper decline in the cost of electricity and gas and lower services inflation, data showed.
MAS core inflation, which excludes the costs of accommodation and private road transport, slowed to 0.6 percent in October from 0.7 percent in the previous month. This was the lowest in more than three years.
On a month-on-month basis, consumer prices fell 0.4 percent in October, after remaining unchanged in the preceding month. At the same time, MAS core CPI remained unchanged in October.
The MAS and the ministry forecast core inflation to come within the lower end of the 1-2 percent range in 2019 and average 0.5- 1.5 percent in 2020. Meanwhile, overall inflation is expected to be around 0.5 percent in 2019 and average 0.5-1.5 percent in 2020.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147008/
*Finland Oct Producer Prices Down 0.9% On Year
Finland Oct Producer Prices Down 0.9% On Year
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147007/
Bitcoin (BTC) Price Analysis: Slump Stalls, Outlook Remains Negative
Bitcoin continues to push lower and now trades around $6,700 after hitting minor horizontal support around $6,500. BTC may partially recover recent falls but the trend remains negative. Via DailyFX - Market News https://ift.tt/2NYYHlE
*Singapore Oct CPI -0.4% On Year Vs. 0% In September
Singapore Oct CPI -0.4% On Year Vs. 0% In September
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147006/
*Singapore Oct CPI Up 0.4% On Year Vs. % 0.5% In Sept, Consensus 0.5%
Singapore Oct CPI Up 0.4% On Year Vs. % 0.5% In Sept, Consensus 0.5%
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147005/
*Japan Sept Lagging Index 104.3 Vs. 104.7 In August
Japan Sept Lagging Index 104.3 Vs. 104.7 In August
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147004/
*Japan Sept Coincident Index 101.1 Vs. 99.0 In August
Japan Sept Coincident Index 101.1 Vs. 99.0 In August
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147003/
*Japan Sept Leading Index 91.9, Same As In August
Japan Sept Leading Index 91.9, Same As In August
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147002/
European Economics Preview: Germany Ifo Business Confidence Data Due
Business sentiment data from Germany is due on Monday, headlining a light day for the European economic news.
At 1.00 am ET, Finland's producer price data for October is due.
At 3.00 am ET, producer prices from Spain and industrial production from Austria are due.
At 4.00 am ET, the ifo institute is set to release Germany's business confidence survey results. Economists forecast the business confidence index to rise to 95.0 in November from 94.6 in October.
In the meantime, Poland's retail sales data is due. Sales are forecast to grow 5.8 percent on year, following a 5.3 percent rise in September.
At 6.00 am ET, the Confederation of British Industry is set to release Distributive Trades survey data for November. The UK retail sales balance is seen unchanged at -10 percent.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147001/
Euro Outlook: German IFO Data May Accelerate EUR/USD Selloff
The Euro may fall if German IFO data spooks regional investors and accelerates a selloff in EUR/USD as the pair tests a critical price level. Via DailyFX - Market News https://ift.tt/2NYYHlE
Gold Prices Wilt as Markets Hope For 'Phase-1' US-China Trade Deal
Gold prices slipped back as Monday saw a resurgence of risk appetite. Wire reports suggested that a substantive trade deal is some way off, but investors think an interim agreement is possible. Via DailyFX - Market News https://ift.tt/2NYYHlE
NZD/USD Rate to Consolidate Amid Failed Test of Former Support
NZD/USD may consolidate over the remainder of the month as the rebound from the yearly low fails to produce a test of the former support zone. Via DailyFX - Market News https://ift.tt/2NYYHlE
Crude Oil Price Outlook: Brent, SEK, NOK May Fall on Trade War Peril
Crude oil prices, along with the petroleum-linked Norwegian Krone and Swedish Krona may face selling pressure as US trade tensions with China and the EU escalate. Via DailyFX - Market News https://ift.tt/2NYYHlE
USD/SGD, USD/IDR, USD/MYR, USD/PHP Remain Glued to Trade War News
The US Dollar rose against SGD, IDR, SGD and PHP on US-China trade deal woes and may continue doing so should talks fall apart. It may show weakness on local GDP and PCE data. Via DailyFX - Market News https://ift.tt/2NYYHlE
Singapore Inflation Data Due On Monday
Singapore is on Monday scheduled to release October figures for consumer prices, highlighting a light day for Asia-Pacific economic activity.
In September, consumer prices were flat on month and up 0.5 percent on year.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2147000/
Australian Dollar Traders to Take Cues from RBA, US-China Trade News
Fresh comments coming out of the Reserve Bank of Australia (RBA) may drag on AUD/USD as the central bank keeps the door open to implement lower interest rates. Via DailyFX - Market News https://ift.tt/2NYYHlE
Euro and British Pound Fell on Soft Data, EUR/USD Eyes Support
The Euro and British Pound depreciated against the US Dollar, bringing EUR/USD near support as the Greenback capitalized on soft European economic data and better local outcomes. Via DailyFX - Market News https://ift.tt/2NYYHlE
Sunday, 24 November 2019
Weekly US Dollar Forecast: Front-Loaded Week Due to Thanksgiving
The coming week is shortened due to the holiday; all of the meaningful US economic data and speeches by Federal Reserve policymakers are due between Monday and Wednesday. Via DailyFX - Market News https://ift.tt/2NYYHlE
Weekly US Dollar Forecast: Front-Loaded Week Due to Thanksgiving
The coming week is shortened due to the holiday; all of the meaningful US economic data and speeches by Federal Reserve policymakers are due between Monday and Wednesday.
US Dollar, Gold and VIX Must Watch Markets with Trade Wars Competing with Liquidity
We have closed out a week where both trade wars and recession worries have regained significant traction. You wouldn't have noticed that threat, however, if you were only referencing price action f... Via DailyFX - Market News https://ift.tt/2NYYHlE
US Dollar, Gold and VIX Must Watch Markets with Trade Wars Competing with Liquidity
We have closed out a week where both trade wars and recession worries have regained significant traction. You wouldn't have noticed that threat, however, if you were only referencing price action f...
Dow Jones, DAX 30 & FTSE 100 Forecasts: Trade Wars to Dominate
Trade wars look poised to dominate the fundamental landscape for equities as the United States clamps down on Huawei and a phase one trade deal experiences further delays. Via DailyFX - Market News https://ift.tt/2NYYHlE
Dow Jones, DAX 30 & FTSE 100 Forecasts: Trade Wars to Dominate
Trade wars look poised to dominate the fundamental landscape for equities as the United States clamps down on Huawei and a phase one trade deal experiences further delays.
Sterling (GBP) Price Outlook: Range Setting Ahead of a General Election Breakout
The British Pound continues to test boundaries against a range of currencies ahead of the December 12 General Election, with current UK PM Boris Johnson holding a healthy lead in the polls. Via DailyFX - Market News https://ift.tt/2NYYHlE
Sterling (GBP) Price Outlook: Range Setting Ahead of a General Election Breakout
The British Pound continues to test boundaries against a range of currencies ahead of the December 12 General Election, with current UK PM Boris Johnson holding a healthy lead in the polls.
Euro Outlook Bearish Amid Renewed Trade Tensions, Debt Risks
The Euro may face selling pressure in the week ahead amid a reignition in EU-US trade tensions as regional growth falters and threatens to undermine Eurozone financial stability. Via DailyFX - Market News https://ift.tt/2NYYHlE
Euro Outlook Bearish Amid Renewed Trade Tensions, Debt Risks
The Euro may face selling pressure in the week ahead amid a reignition in EU-US trade tensions as regional growth falters and threatens to undermine Eurozone financial stability.
Saturday, 23 November 2019
Gold Price Outlook Hinges on Fed Rhetoric, US-China Trade Negotiation
Upcoming remarks from Federal Reserve officials may influence the price of gold as the central bank alters the outlook for monetary policy. Via DailyFX - Market News https://ift.tt/2NYYHlE
Gold Price Outlook Hinges on Fed Rhetoric, US-China Trade Negotiation
Upcoming remarks from Federal Reserve officials may influence the price of gold as the central bank alters the outlook for monetary policy.
Dow Jones, FTSE 100 & DAX Technical Forecast for the Week Ahead
While the Dow Jones has stalled, the upward trajectory remains intact. Potential bull trap in the FTSE 100. DAX eyes 13000 following false upside break. Via DailyFX - Market News https://ift.tt/2NYYHlE
Dow Jones, FTSE 100 & DAX Technical Forecast for the Week Ahead
While the Dow Jones has stalled, the upward trajectory remains intact. Potential bull trap in the FTSE 100. DAX eyes 13000 following false upside break.
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