Australia Private Sector Credit Unchanged In August

Private sector credit in Australia was flat on month in August, the Reserve Bank of Australia said on Wednesday - following the 0.1 percent decline in July.

On a yearly basis, credit gained 2.2 percent after rising 2.4 percent in the previous month.

Housing credit was up 0.2 percent on month and 3.2 percent on year, while personal credit fell 1.1 percent on month and 12.5 percent on year and business credit shed 0.4 percent on month and added 2.9 percent on year.

Broad money was up 0.8 percent on month and 11.5 percent on year.

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source http://www.mt5.com/forex_news/quickview/2164583/

*Australia Private Sector Credit Flat On Month, +2.2% On Year In August

Australia Private Sector Credit Flat On Month, +2.2% On Year In August

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164582/

*Australia Building Permits -1.6% On Month In August

Australia Building Permits -1.6% On Month In August

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source http://www.mt5.com/forex_news/quickview/2164581/

Gold, Silver Price Analysis: Weighed by Stronger US Dollar Post-Debate

Gold and silver prices paused a 3-day rally as US Dollar rose after the first US presidential election debate. Key support levels can be found at US$ 1,875 and US$ 22.90 respectively. Via DailyFX - Market News https://ift.tt/32vveVH

China Manufacturing PMI Climbs To 51.5 In September

The manufacturing sector in China continued to expand in September, and at a faster rate, the latest survey from the National Bureau of Statistics showed on Wednesday with a manufacturing purchasing managers index score of 51.5.

That beat expectations for 51.2 and it's up from 51.0 in August. It also moves further above the boom-or-bust line of 50 that separates expansion from contraction.

The bureau also said its non-manufacturing PMI came in with a score of 55.9 - also exceeding expectations for 55.5 and up from 55.2 in the previous month.

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source http://www.mt5.com/forex_news/quickview/2164580/

*China Manufacturing PMI 51.5 In September; Non-Manufacturing PMI 55.9 - NBS

China Manufacturing PMI 51.5 In September; Non-Manufacturing PMI 55.9 - NBS

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source http://www.mt5.com/forex_news/quickview/2164579/

Japan Industrial Output Climbs 1.7% In August

Industrial production in Japan added a seasonally adjusted 1.7 percent on month in August, the ministry of Economy, Trade and Industry said on Wednesday.

That exceeded expectations for an increase of 1.5 percent following the 8.7 percent gain in July.

On a yearly basis, industrial production dropped 13.3 percent - roughly in line with expectations following the 15.5 percent decline in the previous month.

Upon the release of the data, the METI upgraded its assessment on industrial production, saying now that it is picking up.

Industries that contributed to the increase included motor vehicles, iron and steel and electronic parts. These gains were offset by drops from production machinery, electrical machinery and communications equipment.

Shipments were up 2.1 percent on month and down 13.8 percent on year, while inventories fell 1.4 percent on month and 6.0 percent on year.

The inventory ratio lost 2.5 percent on month but jumped 12.3 percent on year.

According to the METI's forecast for industrial production, output is seen higher by 5.7 percent on month in September and up by 2.9 percent on month in October.

Industries expected to contribute to the gain in September include transport equipment, production machinery and communications equipment.

Industries expected to contribute to the gain in October include communications equipment, production machinery and transport equipment.

Also on Wednesday, the METI said that the total value of retail sales in Japan was up 4.6 percent on month in August, coming in at 12.419 trillion yen.

That beat expectations for an increase of 1.0 percent following the downwardly revised 3.4 percent drop in July (originally -3.3 percent).

On a yearly basis, retail sales fell 1.9 percent - again exceeding expectations for a fall of 3.5 percent after slipping a downwardly revised 2.9 percent in the previous month (originally -28 percent).

Commercial sales were up 1.4 percent on month and down 12.4 percent in August, while wholesale sales rose 0.8 percent on month and lost 16.6 percent on year.

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source http://www.mt5.com/forex_news/quickview/2164578/

USD/CAD Outlook: August High Still on Radar as RSI Tracks Upward Trend

The August high (1.3451) remains on the radar for USD/CAD as the RSI tracks the upward trend established in September and approaches overbought territory. Via DailyFX - Market News https://ift.tt/32vveVH

Japan Retail Sales Jump 4.6% In August

The total value of retail sales in Japan was up 4.6 percent on month in August, the ministry of Economy, Trade and Industry said on Wednesday - coming in at 12.419 trillion yen.

That beat expectations for an increase of 1.0 percent following the downwardly revised 3.4 percent drop in July (originally -3.3 percent).

On a yearly basis, retail sales fell 1.9 percent - again exceeding expectations for a fall of 3.5 percent after slipping a downwardly revised 2.9 percent in the previous month (originally -28 percent).

Commercial sales were up 1.4 percent on month and down 12.4 percent in August, while wholesale sales rose 0.8 percent on month and lost 16.6 percent on year.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164577/

*New Zealand Business Confidence Index -28.5 In September - ANZ

New Zealand Business Confidence Index -28.5 In September - ANZ

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source http://www.mt5.com/forex_news/quickview/2164576/

Japan Industrial Production Rises 1.7% In August

Industrial output in Japan was up a seasonally adjusted 1.7 percent on month in August, the ministry of Economy, Trade and Industry said on Wednesday.

That exceeded expectations for an increase of 1.5 percent following the 8.7 percent gain in July.

On a yearly basis, industrial production dropped 13.3 percent - roughly in line with expectations following the 15.5 percent decline in the previous month.

Upon the release of the data, the METI upgraded its assessment on industrial production, saying now that it is picking up.

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source http://www.mt5.com/forex_news/quickview/2164575/

*Japan Retail Sales -1.9% On Year In August

Japan Retail Sales -1.9% On Year In August

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source http://www.mt5.com/forex_news/quickview/2164574/

*Japan Industrial Production +1.7% On Month, -13.3% On Year In August

Japan Industrial Production +1.7% On Month, -13.3% On Year In August

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164573/

New Zealand Building Consents Rise 0.3% In August

The total number of building consents issued in New Zealand gained a seasonally adjusted 0.3 percent on month in August, Statistics New Zealand said on Wednesday - standing at 3,147.

That was roughly in line with expectations following the downwardly revised 4.6 percent drop in July (originally -4.5 percent).

In the year ended August 2020, the actual number of new dwellings consented was 37,467, up 5.1 percent from the August 2019 year.

The annual value of non-residential building work consented was NZ$6.8 billion, down 9.4 percent on year.

In August 2020, consents were for: 1,791 stand-alone houses; 1,048 townhouses, flats, and units; 205 apartments; and 103 retirement village units.

By region, the numbers of new dwellings consented in the year ended August were: 14,879 in Auckland - up 3.7 percent; 4,105 in Waikato - up 1.4 percent; 3,163 in Wellington - up 15 percent; 5,925 in rest of North Island - up 3.9 percent; 5,653 in Canterbury - up 8.8 percent; and 3,739 in rest of South Island - up 3.5 percent.

In the year ended August 2020, non-residential building consents totaled NZ$6.8 billion, down 9.4 percent from the August 2019 year. Non-residential construction prices (as measured by the capital goods price index) were up 4.5 percent in the June 2020 year.

In the August 2020 year, the non-residential building types with the highest values were: education buildings - NZ$1.1 billion (down 5.8 percent); storage buildings - NZ$1.0 billion (up 5.8 percent); and offices, administration, and public transport buildings - NZ$952 million (down 1.8 percent).

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164572/

New Zealand Building Permits Gain 0.3% In August

The total number of building permits issued in New Zealand was up a seasonally adjusted 0.3 percent on month in August, Statistics New Zealand said on Wednesday - coming in at 3,147.

That was roughly in line with expectations following the downwardly revised 4.6 percent drop in July (originally -4.5 percent).

In the year ended August 2020, the actual number of new dwellings consented was 37,467, up 5.1 percent from the August 2019 year.

The annual value of non-residential building work consented was NZ$6.8 billion, down 9.4 percent on year.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164571/

*New Zealand Building Permits +0.3% On Month, +5.1% On Year In August

New Zealand Building Permits +0.3% On Month, +5.1% On Year In August

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164570/

USD Unfazed While SPX Set to Open Higher Following Presidential Debate

The US Dollar held firm while S&P 500 futures nudged marginally higher after the first presidential debate of the US 2020 elections took centerstage. Via DailyFX - Market News https://ift.tt/32vveVH

Japan Data On Tap For Wednesday

Japan is scheduled to release a batch of data on Wednesday, headlining a busy day for Asia-Pacific economic activity. On tap are August figures for industrial production, retail sales, housing starts and construction orders.

In July, industrial production was up 8.7 percent on month and down 15.5 percent on year, while retail sales sank 3.3 percent on month and 2.8 percent on year. Housing starts tumbled 11.4 percent on year and construction orders plummeted an annual 22.9 percent.

China will see September results for the manufacturing and non-manufacturing indexes from the NBS; in August, their scores were 51.0 and 55.2, respectively. China also will see September results for the manufacturing PMI from Caixin, which is expected to hold steady at 53.1.

The Philippines will provide August data for producer prices; in July, producer prices were down 3.3 percent on year.

Australia will see August figures for building permits and private sector credit. Permits are called flat on month after spiking 12.0 percent in July. Credit was down 0.1 percent on month and up 2.4 percent on year in July.

Hong Kong will release August numbers for retail sales; in July, sales plummeted 23.9 percent on year.

New Zealand will see August figures for building permits and September results for the business confidence index from ANZ. In July, permits were down 4.5 percent on month, while the business index had a score of -41.8 in August.

Thailand will release August data for industrial production, current account, retail sales and its coincident index. In July, industrial production dropped 14.69 percent on year, while the current account had a surplus of $1.79 billion, retail sales tumbled 17.4 percent on year and the coincident had a score of 123.77.

Finally, the markets in South Korea are closed for the Chuseok Festival and will re-open on Monday.

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source http://www.mt5.com/forex_news/quickview/2164569/

U.S. Dollar Extends Slide

The U.S. dollar eased against its peers on Tuesday, extending losses from previous session, and drifting further down from two-month highs posted last week, as the focus shifted to the first presidential debate, due later in the day.

U.S. President Donald Trump and Democratic challenger Joe Biden will engage in the first of the three socially distance presidential debates tonight. The debate, to be held at Case Western Reserve University in Cleveland and moderated by Chris Wallace of Fox News, will likely consist of six segments of about 15 minutes each.

The markets were also reacting to updates on negotiations over a coronavirus-relief package. House Speaker Nancy Pelosi and Treasury Secretary reportedly discussed for nearly an hour today, and talks are likely to resume on Wednesday.

On Monday, House Democrats unveiled a new $2.2 trillion bill.

The Conference Board's report said U.S. consumer confidence jumped 15.5 to a 6-month high of 101.8 in September. Economists had expected the reading to come in at 94.0.

The dollar index slipped to a low of 93.82, losing about 0.5% from previous close.

Against the Euro, the dollar weakened to $1.1743, about 0.65% down from Monday's level. Eurozone economic confidence index reached a six-month high in September driven by waning pessimism in industry, retail trade, construction and services, survey data from the European Commission showed.

The economic confidence index rose to 91.1 in September from 87.5 in August. This was the highest score since March and above economists' forecast of 89.0.

The Pound Sterling firmed up to $1.2856 after falling to $1.2825 from a high of $1.2903. On the Brexit front, the European Union and Britain have indicated that a post-Brexit deal was still some way off as negotiations recommenced over implementing their Withdrawal Agreement.

The Yen, which was moving in a tight band, was weaker at 105.68 a dollar.

The Aussie strengthened, fetching US$0.7132 a unit, compared with US$0.7071 a day earlier.

The Swiss franc was stronger, with the Dollar-franc pair at 0.9193, more than 0.6% up from Monday, and the Loonie was softer at 1.3390 a dollar, after falling to a low of 1.3419 from 1.3352 a dollar.

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source http://www.mt5.com/forex_news/quickview/2164568/

Dow Jones Eyes First US Election Debate, Hang Seng Index May Rebound

The Dow Jones Industrial Average was in a cautious mode ahead of the first US presidential election debate. The Hang Seng Index may enjoy a relief rebound after Evergrande stroke a debt deal. Via DailyFX - Market News https://ift.tt/32vveVH

NZD/USD Recovery Takes Shape Following Failure to Test August Low

A further improvement in risk appetite may fuel a larger recovery in NZD/USD amid the inverse relationship between the US Dollar and investor confidence. Via DailyFX - Market News https://ift.tt/32vveVH

Crude Oil Futures Settle Sharply Lower

Crude oil prices drifted down sharply on Tuesday as worries about energy demand resurfaced after reports showed a surge in coronavirus cases across the globe and that several countries are reimposing lockdown measures.

Traders also looked ahead to the first U.S. presidential debate between Donald Trump and Democrat Joe Biden, due to take place later today.

West Texas Intermediate Crude oil futures for November ended down $1.31 or about 3.2% at $39.29 a barrel.

Brent Crude futures slipped $1.60 or about 3.8% to $40.83 a barrel.

On the Covid-19 front, the global death toll from the pandemic surged past 1 million on Monday night, with U.N. Secretary General Ant?nio Guterres calling it a "mind-numbing figure".

He said that it was crucial that the international community learn from the mistakes made in the first 10 months of the pandemic.

Separately, Anthony S. Fauci, the United States' leading infectious-disease expert, called Florida's full reopening of bars and restaurants "very concerning," and warned it will spark more coronavirus outbreaks.

Traders also await weekly inventory reports from the American Petroleum Institute (API) and U.S. Energy Information Administration (EIA). While API's report is due later today, EIA is scheduled to release its inventory data at 10:30 AM ET Wednesday.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164567/

Gold Futures Settle Higher As Dollar Extends Slide

Gold prices moved higher on Tuesday, extending gains from previous session, as the dollar continued to exhibit weakness.

Weakness in stock markets amid rising worries about a surge in coronavirus cases across the globe, Brexit uncertainty, and caution ahead of the presidential debate between President Donald Trump and Democratic candidate Joe Biden rendered global stock markets weak.

Trump and Biden are set to meet tonight in Cleveland for their first of three debates that could shake up the race for the White House.

The markets were also reacting to updates about negotiations over a new coronavirus rescue plan, and news on the Brexit front.

The dollar index dropped to 93.82 in late morning trades, and despite recovering to 94.05 a little past noon, slipped to 93.87 subsequently, netting a loss of about 0.4%.

Gold futures for December ended up $20.90 or about 1.1% at $1,903.20 an ounce, the highest settlement since last Tuesday.

Silver futures for December closed higher by $0.841 at $24.445 an ounce, while Copper futures for December settled flat at $2.9900 per pound.

According to reports, Democrats unveiled their latest relief package Monday night ahead of renewed negotiations with Treasury Secretary Steven Mnuchin.

"Democrats are making good on our promise to compromise with this updated bill, which is necessary to address the immediate health and economic crisis facing America's working families right now," Speaker of the House Nancy Pelosi said in a statement Monday.

On the Brexit front, the European Union and Britain have indicated that a post-Brexit deal was still some way off as negotiations recommenced over implementing their Withdrawal Agreement.

On the Covid-19 front, the global death toll from the pandemic surged past 1 million on Monday night, with U.N. Secretary General Ant?nio Guterres calling it a "mind-numbing figure".

He said that it was crucial that the international community learn from the mistakes made in the first 10 months of the pandemic.

Separately, Anthony S. Fauci, the United States' leading infectious-disease expert, called Florida's full reopening of bars and restaurants "very concerning," and warned it will spark more coronavirus outbreaks.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164566/

*Singapore Aug Manufactured Product Prices Fall 1.2% M-o-M Vs. -0.1% In July

Singapore Aug Manufactured Product Prices Fall 1.2% M-o-M Vs. -0.1% In July

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164498/

*Japan Jul Leading Index 86.9 Vs. 83.8 In June: Final

Japan Jul Leading Index 86.9 Vs. 83.8 In June: Final

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164497/

European Economics Preview: Eurozone Economic Confidence Data Due

Economic confidence from euro area and mortgage approvals data from the UK are due on Tuesday, headlining a busy day for the European economic news.

At 2.45 am ET, the statistical office Insee publishes France's monthly consumer confidence survey data for September. The consumer sentiment index is forecast to fall marginally to 93.0 from 94 in August.

At 3.00 am ET, Sweden's National Institute of Economic Research is scheduled to issue consumer and manufacturing confidence data.

In the meantime, flash consumer prices and retail sales from Spain and unemployment from Hungary are due. Spain's consumer prices are forecast to drop 0.5 percent annually in September, the same pace of decrease as seen in August.

At 4.00 am ET, Italy's Istat is slated to release producer prices for August.

Half an hour later, the Bank of England publishes mortgage approvals data for August. The number of mortgage approvals is forecast to rise to 73,000 from 66,300 in July.

At 5.00 am ET, European Commission releases economic sentiment survey data. The euro area economic confidence is forecast to rise to 89 in September from 87.7 in August.

At 8.00 am ET, Destatis is set to issue Germany's flash consumer prices for September. Consumer prices are forecast to drop 0.1 percent on year, after staying flat in August.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164496/

British Pound (GBP) Latest: Stronger all Round as Brexit Talks Resume

GBP/USD is firmer and many Sterling crosses are higher on a minor risk rally. That’s despite a lack of progress in the EU-UK talks on a post-Brexit trade deal. Via DailyFX - Market News https://ift.tt/32vveVH

DAX 30 Index Rebound at Risk on Merkel's Warning, Covid-19 Second Wave

Germany’s DAX 30 index’s rebound may prove short-lived as a worrying surge in Covid-19 infections threatens to upend the nation’s economic recovery. Via DailyFX - Market News https://ift.tt/32vveVH

Crude Oil and Gold Prices Eyeing Pelosi-Mnuchin Meeting on Stimulus

Crude oil and gold prices gained on US fiscal stimulus hopes. Ahead, the focus for WTI and XAU/USD shifts to a meeting between Nancy Pelosi and Steven Mnuchin. Via DailyFX - Market News https://ift.tt/32vveVH

EUR/USD Rate Trades in Defined Range Despite Dovish ECB Guidance

EUR/USD may trade within a defined range over the coming days as the European Central Bank (ECB) appears to be in no rush to alter the path for monetary policy. Via DailyFX - Market News https://ift.tt/32vveVH

Tokyo Overall Inflation Gains 0.2% On Year In September

Overall consumer prices in the Tokyo area were up 0.2 percent on year in September, the Ministry of Internal Affairs and Communications said on Tuesday.

That was shy of expectations for an increase of 0.3 percent, which would have been unchanged from the August reading.

Core CPI, which excludes volatile food prices, slipped an annual 0.2 percent. That exceeded forecasts for a drop of 0.3 percent, which also would have been unchanged from the previous month.

On a seasonally adjusted monthly basis, overall Tokyo inflation was down 0.1 percent and core CPI was flat.

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source http://www.mt5.com/forex_news/quickview/2164495/

South Korea Industrial Output Dips 0.7% In August

Industrial output in South Korea fell a seasonally adjusted 0.7 percent on month in August, Statistics Korea said on Tuesday - beating forecasts for a decline of 1.5 percent following the 1.6 percent increase in July.

On a yearly basis, industrial production sank 3.0 percent - missing expectations for a fall of 2.8 percent following the 2.5 percent drop in the previous month.

The index of all industry production was down 0.9 percent on month and 3.4 percent on year after adding 0.1 percent on month and losing 1.5 percent on year in July.

The Manufacturing Production Index fell 1.0 percent on month and 3.1 percent on year, while the Manufacturing Shipment Index lost 1.4 percent on month and 7.2 percent on year. The Manufacturing Inventory Index added 2.1 percent on month and 3.6 percent on year.

The Production Capacity Index rose 0.2 percent on month and 1.6 percent on year. The Index of Capacity Utilization Rate slid 0.6 percent on month and 7.1 percent on year.

The Manufacturing Average Capacity Utilization Rate in August marked 69.6 percent, down 0.5 percentage points from the previous month. The Index of Services shed 1.0 percent on month and 3.7 percent on year. The Retail Sales Index gained 3.0 percent on month and 0.3 percent on year.

The Equipment Investment Index sank 4.4 percent on month and 1.8 percent on year. The Domestic Machinery Shipment Index slid 0.5 percent on year. The value of Domestic Machinery Orders Received in August increased 0.5 percent on year.

The value of construction completed at constant prices dropped 7.1 percent on month and 9.4 percent on year. The value of construction orders received at current prices surged an annual 37.2 percent.

The Composite Coincident Index in August rose 0.5 percent on month. The Cyclical Component of Composite Coincident Index, which reflects current economic situations, gained 0.4 points from the previous month.

The Composite Leading Index in August increased by 0.9 percent from the previous month. The Cyclical Component of Composite Leading Index, which predicts the turning point in business cycle, increased by 0.6 points from July.

The stats bureau also said that construction output sank 9.4 percent on year in August after easing 0.6 percent in July.

Retail sales were up 3.0 percent on month and 0.3 percent on year in August after sinking 6.0 percent on month and gaining 0.5 percent on year in July.

Also on Tuesday, the Bank of Korea said that business sentiment improved slightly in September after its Business Survey Index came in with a score of 68.

That's up 2 points from the previous month, but the outlook for the following month remained unchanged at 68.

After seasonal adjustment, the BSI for September 2020 was 68, unchanged from August 2020, but that for the outlook for the following month also rose by 2 points to 70.

In the non-manufacturing sector, the BSI on business conditions for September 2020 was 62, down 4 points from the previous month, and that for the outlook for the following month also fell by 7 points to 62.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164494/

*Tokyo Overall Inflation +0.2% On Year; Core CPI -0.2% On Year

Tokyo Overall Inflation +0.2% On Year; Core CPI -0.2% On Year

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164493/

South Korea Industrial Production Sinks 0.7% In August

Industrial production in South Korea was down a seasonally adjusted 0.7 percent on month in August, Statistics Korea said on Tuesday - beating forecasts for a decline of 1.5 percent following the 1.6 percent increase in July.

On a yearly basis, industrial production sank 3.0 percent - missing expectations for a fall of 2.8 percent following the 2.5 percent drop in the previous month.

The index of all industry production was down 0.9 percent on month and 3.4 percent on year after adding 0.1 percent on month and losing 1.5 percent on year in July.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164492/

*South Korea Retail Sales +3.0% On Month, +0.3% On Year In August

South Korea Retail Sales +3.0% On Month, +0.3% On Year In August

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164491/

*South Korea Industrial Production -0.7% On Month, -3.0% On Year In August

South Korea Industrial Production -0.7% On Month, -3.0% On Year In August

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164490/

South Korea Business Sentiment Ticks Higher In September

Business sentiment in South Korea improved slightly in September, the latest survey from the Bank of Korea showed on Tuesday with a Business Survey Index score of 68.

That's up 2 points from the previous month, but the outlook for the following month remained unchanged at 68.

After seasonal adjustment, the BSI for September 2020 was 68, unchanged from August 2020, but that for the outlook for the following month also rose by 2 points to 70.

In the non-manufacturing sector, the BSI on business conditions for September 2020 was 62, down 4 points from the previous month, and that for the outlook for the following month also fell by 7 points to 62.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164489/

*South Korea Business Confidence Index +68 In September Vs. +66 In August

South Korea Business Confidence Index +68 In September Vs. +66 In August

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164488/

South Korea Industrial Production Data Due On Tuesday

South Korea will on Tuesday release August numbers for industrial production and retail sales, setting the pace for a light day in Asia-Pacific economic activity.

In July, industrial production was up 1.6 percent on month and down 2.5 percent on year, while retail sales tumbled 6.0 percent on month and added 0.6 percent on year.

Japan will see September figures for Tokyo area consumer prices; in August, overall inflation was down 0.3 percent on month and was up 0.3 percent on year.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164487/

Dow Jones Climbs on Stimulus Hopes, ASX 200 and Nikkei 225 Advance

Dow Jones Industrial Average surged for a second day on fiscal stimulus hopes. The US Dollar fell alongside VIX volatility index. Asia-Pacific equities opened broadly higher. Via DailyFX - Market News https://ift.tt/32vveVH

Dollar Exhibits Weakness Against Peers

The U.S. dollar was weak against its peers on Monday as rising equities, data showing an improvement in China's industrial profits and optimism about a new coronavirus relief bill in the U.S. dimmed the currency's safe-haven appeal.

Data from National Bureau of Statistics showed that China's industrial profits grew for the fourth straight month in August.

Industrial profits rose 19% year-on-year to 612.81 billion yuan in August, following a 19.6% increase in July.

Rising hopes for fresh stimulus also boosted sentiment. House Speaker Nancy Pelosi said on Sunday that a new package is still possible. House Democrats plan to unveil a new $2.4 trillion coronavirus relief bill.

The price tag for the bill is $1 trillion less than a stimulus package the House passed back in May but may still be too high for Republicans.

Traders were looking ahead to upcoming economic data and the first presidential election debate between U.S. President Donald Trump and his Democratic rival Joe Biden for directional cues.

The dollar index slid to 94.15 in the European session as the euro and Sterling strengthened amid increased risk appetite. The index recovered to edge past 94.40 before noon, but eased to 94.29 subsequently, netting a loss of nearly 0.4%.

The Euro firmed up to $1.1677 by mid morning, and was last fetching $1.1666, nearly 0.3% more than Friday's close.

Against Pound Sterling, the dollar weakened to $1.2833, giving up about 0.7%.

The Yen was slightly stronger at 105.53 a dollar, compared to 105.58 a dollar on Friday.

The Aussie firmed up more than 0.6%, with the AUD-USD pair trading at 0.7073.

The Swiss franc was firmer at 0.9245 a dollar, while the Loonie was up 0.1% at C$1.3373 a dollar.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164486/

GBP, USD Eye Brexit, Presidential Debate & Outlook for Stimulus Talks

The British Pound and US Dollar will be contending with the rising geopolitical risks of Brexit, US fiscal stimulus talks and the first presidential debate in a data-packed week. Via DailyFX - Market News https://ift.tt/32vveVH

Euro Forecast: Failed Breakouts or False Breakdowns? Levels for EUR/JPY & EUR/USD

As the DXY Index has clawed back gains in recent weeks, EUR/USD rates have slid back. Their fates remain intertwined. Via DailyFX - Market News https://ift.tt/32vveVH

AUD/USD to Stage Larger Rebound as RSI Reverses from Oversold Zone

AUD/USD looks poised to extend the rebound from the monthly low (0.7006) as the Relative Strength Index (RSI) appears to be reversing from oversold territory. Via DailyFX - Market News https://ift.tt/32vveVH

Crude Oil Futures Settle Higher

Crude oil prices rose on Monday and the most active futures contract ended notably higher, despite lingering worries about outlook for fuel demand amid reimposition of mobility curbs in some countries due to a surge in coronavirus cases.

Data from Johns Hopkins University showed new coronavirus cases in the U.S. increased by at least 10% or more compared to the week before in 21 states as of Sunday. Health experts have been warning that coronavirus cases will surge in the fall and winter.

However, optimism about a new U.S. coronavirus relief package helped ease concerns about energy demand and supported oil prices.

U.S. House Speaker Nancy Pelosi expressed optimism Sunday that she hopes to find common ground for agreement with Treasury Secretary Stephen Mnuchin.

A weak U.S. dollar contributed as well to oil's uptick.

West Texas Intermediate Crude oil futures for November ended up $0.35 or about 0.9% at $40.60 a barrel, after hitting a high of $40.79 earlier in the day.

Brent crude futures moved up $0.51 or about 1.2% to $42.43 a barrel.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164485/

Gold Futures Settle Notably Higher As Dollar Weakens

Gold prices moved higher on Monday as the dollar weakened against most of its peers.

The dollar index slipped to 94.15 in the European session, and despite moving past 94.40 subsequently, faltered again and was last seen at 94.25, down more than 0.4% from previous close.

Data showing strong industrial profits in China dimmed dollar's safe-haven appeal.

Profits of China's industrial firms grew for the fourth straight month in August, buoyed in part by a rebound in commodities prices and equipment manufacturing, official data showed on Sunday.

Gold futures for December ended up $16.00 or about 0.9% at $1,882.30 an ounce, rallying from an early low of $1,851.10 an ounce.

Silver futures for December closed higher by $0.511 at $23.604 an ounce, while Copper futures for December settled at $2.9900 per pound, gaining $0.0190.

Investors were looking ahead to upcoming economic data and the first presidential election debate between U.S. President Donald Trump and his Democratic rival Joe Biden for directional cues.

On the stimulus front, U.S. House Speaker Nancy Pelosi has expressed optimism Sunday that she hopes to find common ground for agreement with Treasury Secretary Stephen Mnuchin.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164484/

*Slovakia Sept Economic Confidence 87.7 Vs. 83.5 In August

Slovakia Sept Economic Confidence 87.7 Vs. 83.5 In August

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164451/

*Lithuania Aug Retail Sales Ip 0.5% On Month

Lithuania Aug Retail Sales Ip 0.5% On Month

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164450/

*Lithuania Aug Retail Sales +7.7% On Year Vs. +7.1% In July

Lithuania Aug Retail Sales +7.7% On Year Vs. +7.1% In July

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164449/

Malaysia Exports Fall Unexpectedly In August

Malaysia's exports fell unexpectedly in August, data from the Department of Statistics showed on Monday.

Exports fell 2.9 percent year-on-year to MYR 79.1 billion in August, reversing a 3.1 percent increase in July. Economists had expected a 4.8 percent rise.

Imports declined 6.5 percent annually to MYR 65.9 billion in August, following an 8.7 percent fall in the previous month. Economists had forecast a fall of 4.3 percent.

As a result, the trade surplus declined to MYR 13.2 billion in August from MYR 25.2 billion. Economists had expected a surplus of MYR 17.9 billion.

On a monthly basis, exports fell 14.5 percent in August and imports decreased 2.2 percent.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164448/

*Norway Aug Retail Sales +8.2% On Year Vs. +13.8% In July

Norway Aug Retail Sales +8.2% On Year Vs. +13.8% In July

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164447/

*Norway Aug Retail Sales -4.9% On Month Vs. +0.6% In July

Norway Aug Retail Sales -4.9% On Month Vs. +0.6% In July

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164446/

Finland's Industrial Confidence Remains Stable In September

Finland's industrial confidence remained unchanged in September, survey results from the Confederation of Finnish Industries EK showed on Monday.

The industrial confidence index held steady at -20 in September. The reading for August was revised from -19. The indicator remained well below the long-term average of +1 in September.

The construction sentiment index also remained stable at -15 in September. The long-term average was -6.

The balance of the services confidence dropped one point to -11 and was weaker than the long-run average.

At -5, the retail confidence turned negative in September, down from +2 in August. The long-term average was -1.

"It seems that the economic recovery is over, at least momentarily, Sami Pakarinen, EK's leading economist said. The near future looks very worrying.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164445/

*Finland Sep Industrial Confidence Stable At -20

Finland Sep Industrial Confidence Stable At -20

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164444/

*Finland Sep Consumer Confidence -5.9 Vs. -5.1 In August

Finland Sep Consumer Confidence -5.9 Vs. -5.1 In August

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164443/

*Dutch Sept Business Confidence -4.8 Vs. -5.4 In August

Dutch Sept Business Confidence -4.8 Vs. -5.4 In August

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164442/

*Malaysia Aug Imports Down 6.5% On Year

Malaysia Aug Imports Down 6.5% On Year

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164441/

*Malaysia Exports Down 2.9% On Year

Malaysia Exports Down 2.9% On Year

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164440/

Gold, Silver Price Forecast: Will 100-Day SMA Hold or Break?

Gold and silver prices are consolidating near their 100-Day Simple Moving Averages (SMAs) at US$ 1,870 and US$ 22.80 respectively. The US Dollar is closely eyed. Via DailyFX - Market News https://ift.tt/32vveVH

USD/JPY Rebound Fades On Renewed Stimulus Optimism, Vaccine Progress

The USD/JPY exchange rate’s 5-day recovery from multi-month lows could fade in light of renewed stimulus optimism and Covid-19 vaccine progress. Via DailyFX - Market News https://ift.tt/32vveVH

US Dollar Rose, Capital Fled Emerging Markets. SGD, IDR, PHP, MYR at Risk?

The US Dollar soared against emerging market and ASEAN currencies as capital fled developing economies in a sign of rising concern about the global growth outlook. Will this continue? Via DailyFX - Market News https://ift.tt/32vveVH

Gold Price Holds Steady as Fed Balance Sheet Approaches June Peak

The price of gold holds near the monthly low ($1849) as the Federal Reserve’s balance sheet widens for the second week to reach its highest level since June. Via DailyFX - Market News https://ift.tt/32vveVH

GBP, USD Eye Brexit, Presidential Debate & Outlook for Stimulus Talks

The British Pound and US Dollar will be contending with the rising geopolitical risks of Brexit, US fiscal stimulus talks and the first presidential debate in a data-packed week. Via DailyFX - Market News https://ift.tt/32vveVH

Japanese Yen Outlook: AUD/JPY, CAD/JPY, EUR/JPY Levels To Watch

The Japanese Yen’s 5% surge from the yearly low could prove to be a mere counter-trend correction as key chart resistance appears to have stifled topside potential. Via DailyFX - Market News https://ift.tt/32vveVH

Japan Leading Index Data Due On Monday

Japan will on Monday release final July numbers for its leading and coincident economic indexes, highlighting a light day for Asia-Pacific economic activity.

The leading index is tipped to see a score of 86.9, up from 83.8 previously - while the coincident is pegged at 76.2, up from 74.4.

Singapore will release August numbers for import and export prices and producer prices. In July, import prices were up 7.5 percent on year and export prices tumbled an annual 7.0 percent. Producer prices were down 8.5 percent on year.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164439/

NZD/USD Analysis: Bearish Price Sequence Sputters Ahead of August Low

NZD/USD may consolidate going into October as the decline from the monthly high (0.6798) sputters ahead of the August low (0.6489). Via DailyFX - Market News https://ift.tt/32vveVH

Nasdaq 100 Futures Extend Gains, Hang Seng and Nifty 50 May Rebound

Nasdaq 100 futures climb in early Asia hours after rising 2.26% on Friday, setting an upbeat tone for Asia-Pacific open. The US Dollar index retraces. Via DailyFX - Market News https://ift.tt/32vveVH

AUD/USD Analysis Ahead of Presidential Debate, Supreme Court Nominee Battle

How will AUD/USD perform ahead of the first Biden-Trump presidential debate against the backdrop of the ongoing battle over the Supreme Court vacancy? Via DailyFX - Market News https://ift.tt/32vveVH

AUD/USD Analysis Ahead of Presidential Debate, Supreme Court Nominee Battle

How will AUD/USD perform ahead of the first Biden-Trump presidential debate against the backdrop of the ongoing battle over the Supreme Court vacancy? Via DailyFX - Market News https://ift.tt/32vveVH

AUD/USD Analysis Ahead of Presidential Debate, Supreme Court Nominee Battle

How will AUD/USD perform ahead of the first Biden-Trump presidential debate against the backdrop of the ongoing battle over the Supreme Court vacancy? Via DailyFX - Market News https://ift.tt/32vveVH

Markets Week Ahead: US Dollar, Gold , Dow Jones, Sterling, US Stimulus, NFPs

The US Dollar soared as the Dow Jones and S&P 500 extended losses, gold prices fell. Investors may be growing increasingly impatient for further US fiscal stimulus. The British Pound faces more Bre...

Markets Week Ahead: US Dollar, Gold , Dow Jones, Sterling, US Stimulus, NFPs

The US Dollar soared as the Dow Jones and S&P 500 extended losses, gold prices fell. Investors may be growing increasingly impatient for further US fiscal stimulus. The British Pound faces more Bre... Via DailyFX - Market News https://ift.tt/32vveVH

S&P 500 Price Forecast: US Presidential Election May Spook Volatility

The S&P 500 index may struggle with a consolidation in view of several headwinds. The US presidential election may cool risk appetite and spook volatility.

S&P 500 Price Forecast: US Presidential Election May Spook Volatility

The S&P 500 index may struggle with a consolidation in view of several headwinds. The US presidential election may cool risk appetite and spook volatility. Via DailyFX - Market News https://ift.tt/32vveVH

Mexican Peso Fundamental Forecast: Banxico Tries to Aid Economic Recovery

USD/MXN pushes higher as a long-awaited correction in the US Dollar gets underway

Mexican Peso Fundamental Forecast: Banxico Tries to Aid Economic Recovery

USD/MXN pushes higher as a long-awaited correction in the US Dollar gets underway Via DailyFX - Market News https://ift.tt/32vveVH

Euro Forecast: EUR/USD Outlook Still Bearish But Bounce Due

EUR/USD fell sharply last week and there are few signs yet that the selling is over. However, a bounce is likely before the decline resumes Via DailyFX - Market News https://ift.tt/32vveVH

Gold Price Outlook: Rising US Dollar Sinks XAU/USD, Will Losses Extend?

Anti-fiat gold prices suffered the worst week since August as the US Dollar gained ground. Will losses extend? All eyes turn to fiscal stimulus hopes and non-farm payrolls data.

Gold Price Outlook: Rising US Dollar Sinks XAU/USD, Will Losses Extend?

Anti-fiat gold prices suffered the worst week since August as the US Dollar gained ground. Will losses extend? All eyes turn to fiscal stimulus hopes and non-farm payrolls data. Via DailyFX - Market News https://ift.tt/32vveVH

USD Volatility Ahead? Presidential Debate, Stimulus Talks & NFPs on Deck

The US Dollar will be bracing for a cascade of political risks including the first presidential debate, ongoing stimulus talks, the Supreme Court vacancy against the backdrop of key employment data.

USD Volatility Ahead? Presidential Debate, Stimulus Talks & NFPs on Deck

The US Dollar will be bracing for a cascade of political risks including the first presidential debate, ongoing stimulus talks, the Supreme Court vacancy against the backdrop of key employment data. Via DailyFX - Market News https://ift.tt/32vveVH

Oil Price Rebound Stalls Ahead of Monthly High with OPEC on Sidelines

The price of oil may continue to trade in a narrow range as the rebound from the September low ($36.13) appears to have stalled ahead of the month high ($43.43).

Oil Price Rebound Stalls Ahead of Monthly High with OPEC on Sidelines

The price of oil may continue to trade in a narrow range as the rebound from the September low ($36.13) appears to have stalled ahead of the month high ($43.43). Via DailyFX - Market News https://ift.tt/32vveVH

Dollar Firms Up Against Peers

The U.S. dollar gained against its peers on Friday on safe-haven appeal after new restrictions in Europe due to a resurgence in Covid-19 cases dampened prospects of economic recovery.

Several governments across Europe reimposed lockdown measures following a second wave of infections. The U.K., France and Spain reported spikes in new coronavirus cases on Thursday.

Traders were also following stimulus talks in Washington, where the Democrats are reportedly preparing a $2.2 trillion package.

Data from the Commerce Department showed that durable goods orders climbed much less than expected in the month of August.

The Commerce Department said durable goods orders rose by 0.4% in August after soaring by an upwardly revised 11.7% in July.

The dollar index rose to a two-month high at 94.74 around mid morning, and despite paring some gains subsequently, was firmly up in positive territory at 94.60 around late afternoon, gaining 0.26% over previous close.

Against the Euro, the dollar firmed up to $1.1613 before noon, and was last seen at $1.1630, still notably up from Thursday's close of $1.1670. Data from the European Central Bank showed that Eurozone money supply increased at a slower pace in August and credit to the private sector logged a steady growth.

The Pound Sterling was flat at $1.2744, after easing to $1.2698 from a high of $1.2806 it had touched earlier. According to data released by the Office for National Statistics, the UK budget deficit widened to the highest on record in August due to lower income and government's coronavirus relief schemes.

Public sector net borrowing excluding public sector banks, increased by GBP 30.5 billion from last year to GBP 35.9 billion in August.

The Japanese currency Yen was down at 105.59 a dollar, after closing at 105.41 a dollar on Thursday.

The Aussie weakened to US$0.7029, down more than 0.25% from its previous close.

The Swiss franc was down at 0.9299 a dollar, while the Loonie weakened to 1.3393 a dollar, netting a modest loss.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164438/

Australian Dollar May Extend Fall Despite Easing Covid-19 Restrictions

The Australian Dollar may extend its slide lower despite the planned easing of Covid-19 restrictions, as the market continues to price in an RBA rate cut on October 6.

Australian Dollar May Extend Fall Despite Easing Covid-19 Restrictions

The Australian Dollar may extend its slide lower despite the planned easing of Covid-19 restrictions, as the market continues to price in an RBA rate cut on October 6. Via DailyFX - Market News https://ift.tt/32vveVH

Treasuries Close Nearly Unchanged After Another Lackluster Session

After ending the previous session slightly higher, treasuries turned in a lackluster performance during trading on Friday.

Bond prices saw modest strength in early trading but pulled back near the unchanged line as the day progressed. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, edged down by less than a basis point to 0.659 percent.

Treasuries initially benefited from the release of a report from the Commerce Department showing a much smaller than expected increase in durable goods orders in the month of August.

The Commerce Department said durable goods orders rose by 0.4 percent in August after soaring by an upwardly revised 11.7 percent in July.

Economists had expected durable goods orders to surge up by 1.5 percent compared to the 11.4 percent spike that had been reported for the previous month.

Excluding a 0.5 percent increase in orders for transportation equipment, durable goods orders still climbed by 0.4 percent in August following a 3.2 jump in July. Ex-transportation orders were expected to shoot up by 1.5 percent.

Meanwhile, the report said orders for non-defense capital goods excluding aircraft, a reading on business spending, advanced by 1.8 percent in August after jumping by an upwardly revised 2.5 percent in July.

Buying interest remained relatively subdued, however, as traders seemed reluctant to make significant moves amid uncertainty about the economic outlook.

Traders also kept an eye on developments in Washington amid reports House Democrats plan to unveil a new $2.4 trillion coronavirus relief bill.

The price tag for the bill is $1 trillion less than a stimulus package the House passed back in May but may still be too high for Republicans.

The subsequent pullback by treasuries may partly have reflected the rally that emerged on Wall Street, with tech stocks leading the way higher.

The Labor Department's monthly jobs report is likely to be in the spotlight next week, although reports on consumer confidence, pending home sales, personal income and spending and manufacturing activity may also attract attention.

Traders may also keep an eye on the first debate between President Donald Trump and Democratic nominee Joe Biden for clues about the outcome of the presidential election.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164437/

Oil Futures Settle Lower On Demand Growth Concerns

Crude oil prices settled modestly lower on Friday, weighed down by concerns about outlook for energy demand due to rising coronavirus cases and reports of fresh lockdown measures in several countries.

Reports about resumption of crude exports from Libya weighed as well on oil prices.

Recent data showing a drop in crude inventories in the U.S. helped limit oil's decline a bit.

West Texas Intermediate Crude oil futures for November ended down $0.06 or about 0.2% at $40.25 a barrel.

WTI Crude oil futures shed about 2.6% in the week.

Brent Crude futures were lower by $0.07 at $41.87 a barrel.

According to Baker Hughes, the oil-drilling rigs count in the U.S. moved up for the first time in three weeks, rising by 4 this week to 183.

According to reports, coronavirus cases in the U.S. topped 7 million, accounting for more than 20% of the world's todal.

In Europe, health officials have warned of the risk of a potentially lethal "twindemic of Covid-19 and the flu."

Meanwhile, the cumulative tall of coronavirus infections in Spain crossed 70,000 on Thursday. France too reported a surge in new cases. The U.K. reported the highest number of new coronavirus cases in a single day since the start of the pandemic.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164436/

Gold Futures Settle Lower, Sheds Nearly 5% In Week

Gold prices drifted lower on Friday, posting losses for the fourth session this week, as the dollar gained in strength, recovering after exhibiting some weakness a day earlier.

The dollar index rose to 94.74, a new two-month peak, a little before noon, and pared some gains subsequently. It was last seen hovering around 94.60, up 0.26% from previous close.

The dollar has been making steady progress on safe-haven appeal amid rising worries about the virus pandemic and its impact on global growth.

Gold futures for December ended down $10.60 or about 0.6% at $1,866.30 an ounce, the lowest close in two months. For the week, gold futures shed about 4.9%, the most in a week in more than 6 months.

Silver futures for December ended lower by $0.103 or 0.4% at $23.093 an ounce, while Copper futures settled at $2.9710 per pound, gaining $0.0030 or about 0.1%.

Meanwhile on the virus relief bill front, the House Democrats are reportedly working on a $2.4 trillion relief proposal. House Speaker Nancy Pelosi is said to have reiterated her willingness to neogiate with the White House to find an agreement.

According to a report released by the Commerce Department this morning, durable goods orders climbed much less than expected in the month of August.

The report said durable goods orders rose by 0.4% in August after soaring by an upwardly revised 11.7% in July.

Economists had expected durable goods orders to surge up by 1.5% compared to the 11.4% spike that had been reported for the previous month.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164435/

*Denmark Aug Retail Sales Fall 1.1% M-o-M Vs. -1% In July

Denmark Aug Retail Sales Fall 1.1% M-o-M Vs. -1% In July

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164401/

*Denmark Aug Retail Sales Rise 2% On Year Vs. 7.2% In July

Denmark Aug Retail Sales Rise 2% On Year Vs. 7.2% In July

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164400/

*UK Apr-Aug Budget Deficit GBP 173.7 Bln, Highest On Record

UK Apr-Aug Budget Deficit GBP 173.7 Bln, Highest On Record

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164399/

Pound Little Changed After U.K. Public Sector Finance Data

At 2.00 am ET Friday, the Office for National Statistics has released UK public sector finance data for August. The pound changed little against its major rivals after the data.

The pound was trading at 134.35 against the yen, 1.1819 against the franc, 0.9148 against the euro and 1.2756 against the greenback around 2.05 am ET.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164398/

*UK Aug Budget Deficit GBP 35.9 Bln, Consensus GBP 35.05 Bln

UK Aug Budget Deficit GBP 35.9 Bln, Consensus GBP 35.05 Bln

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164397/

Pound Mixed Ahead Of U.K. Public Sector Finance Data

At 2.00 am ET Friday, the Office for National Statistics releases UK public sector finance data for August. The budget deficit is forecast to widen to GBP 35.05 billion from GBP 25.94 billion in July.

Ahead of the data, the pound traded mixed against its major rivals. While it rose against the greenback, it held steady against the rest of major rivals

The pound was worth 134.39 against the yen, 1.1819 against the franc, 0.9148 against the euro and 1.2757 against the greenback as of 1:55 am ET.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164396/

UK Car Production Declines Sharply In August: SMMT

UK car production declined sharply in August as ongoing coronavirus crisis stalled efforts to ramp up output, data from the Society of Motor Manufacturers and Traders, or SMMT, showed Friday.

Output decreased 44.6 percent on a yearly basis in August. Just 51,039 units rolled off factory lines as the decline in demand from overseas markets was compounded by a sharp decrease in output for British buyers.

The SMMT said the performance also reflects an unusually strong August in 2019, when some plants worked through the customary summer maintenance shutdown period, instead pausing in April to mitigate the then possible 'no deal' Brexit on March 31.

Production for domestic market plunged 58.3 percent annually and that for exports were down 41.1 percent.

So far this year UK, car production decreased 40.2 percent, representing a loss of 348,821 units.

"The UK industry is fundamentally strong and agile, and the measures announced yesterday by the Chancellor are welcome and essential, although we await more details of how they will work for all businesses and crucially large manufacturers," Mike Hawes, SMMT chief executive?said.

The lobby observed that crisis of a second wave of coronavirus comes with the prospect of a 'no-deal' Brexit now mere months away and with the UK on course to produce just below 885,000 cars this year, down 34 percent on 2019.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164395/

Australian Dollar Forecast: Key AUD/USD Levels to Watch

US correction and fuelling expectations of RBA easing weighs on the Australian Dollar. Via DailyFX - Market News https://ift.tt/32vveVH

*Amended: Singapore Aug Industrial Output Rises 13.7% On Year, Consensus +4.6%

Amended: Singapore Aug Industrial Output Rises 13.7% On Year, Consensus +4.6%

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164394/

*Singapore Aug Industrial Output Rises 13.9% On Year, Consensus +2.6%

Singapore Aug Industrial Output Rises 13.9% On Year, Consensus +2.6%

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164393/

*South Korea Sep Consumer Confidence 79.4 Vs. 84.2 In August

South Korea Sep Consumer Confidence 79.4 Vs. 84.2 In August

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164392/

British Pound Latest (GBP) - Are the UK and EU Nearing a Brexit Agreement?

GBP/USD to remain choppy, while optimism over EU-UK Brexit negotiations are rising. Via DailyFX - Market News https://ift.tt/32vveVH

*UK Aug Car Production Falls 44.6% On Year: SMMT

UK Aug Car Production Falls 44.6% On Year: SMMT

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164391/

European Economics Preview: UK Public Sector Finance Data Due

Public sector finance data from the UK is due on Friday, headlining a light day for the European economic news.

At 2.00 am ET, the Office for National Statistics releases UK public sector finance data for August. The budget deficit is forecast to widen to GBP 35.05 billion from GBP 25.94 billion in July.

At 3.00 am ET, producer prices from Spain and industrial production from Austria are due.

At 3.30 am ET, Statistics Sweden is scheduled to issue producer prices for August.

At 4.00 am ET, the European Central Bank is slated to issue euro area monetary aggregates for August. M3 money supply is expected to grow at a steady pace of 10.2 percent.

Italy's Istat is also slated to publish business and consumer sentiment survey results at 4.00 am. The business confidence index is seen rising to 87.5 from 86.1 in August.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164390/

*Japan Aug Corporate Services Prices Rise 1% On Year Vs. 1.1% In July

Japan Aug Corporate Services Prices Rise 1% On Year Vs. 1.1% In July

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164389/

*UK Sep GfK Consumer Confidence -25 Vs. -27 In August

UK Sep GfK Consumer Confidence -25 Vs. -27 In August

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164388/

EUR/USD Rates May Extend Slide Lower on Covid-19 Second Wave Fears

The EUR/USD exchange rate is at risk of extending its slide lower as a ‘second wave’ of coronavirus infections in Europe notably sours risk appetite. Via DailyFX - Market News https://ift.tt/32vveVH

Dow Jones Rebounds at 23.6% Fibonacci Level, Nikkei 225, ASX 200 Climb

Dow Jones Industrial Average futures climb in early Asia hours after rising 0.29% as the VIX volatility index fell. Asia-Pacific equities look for a relief rebound. Via DailyFX - Market News https://ift.tt/32vveVH

Dollar Turns Subdued After Early Strength

After staying positive for much of the session till noon, the U.S. dollar turned weak and posted losses against some of its peers on Thursday.

Data released by the Labor Department this morning showed an unexpected uptick in first-time claims for U.S. unemployment benefits in the week ended September 19th.

The data said initial jobless claims inched up to 870,000, an increase of 4,000 from the previous week's revised level of 866,000. Economists had expected jobless claims to drop to 843,000 from the 860,000 originally reported for the previous week.

A separate report released by the Commerce Department showed new home sales jumped by 4.8% to an annual rate of 1.011 million in August after skyrocketing by 14.7% to an upwardly revised rate of 965,000 in July. Economists had expected new home sales to pull back by 1.2%.

The dollar index, which rose to 94.59 in late morning trades, fell to a low of 94.20 around mid afternoon and was last seen at 94.37, down slightly from previous close.

Against the Euro, the dollar firmed up to 1.627 before losing ground and slipping to 1.1689. It subsequently regained some lost ground and was hovering around 1.1670 a little while ago, netting a small loss.

The Pound Sterling was slightly firmer, fetching $1.2741, compared to $1.2726 on Wednesday afternoon.

The Yen was slightly weak at 105.42 a dollar, after recovering from 105.54.

The Aussie was stronger with the AUD-USD pair trading at 0.7045, up nearly 0.4%.

The Swiss franc was weaker against the greenback at 0.9629, down more than 0.3% from Wednesday's close, while the Loonie was firmer against the dollar at C$1.3359, gaining about 0.2%.

During their latest speeches some Fed officials' called for more fiscal stimulus. The call for fiscal stimulus and rising worries about the pace of global economic recovery amid surging coronavirus cases lifted demand for the safe-haven currency.

Fed Chair Jerome Powell said on Wednesday that the economy had a long way to go before recovery and further fiscal support is required to limit damage caused by the coronavirus pandemic.

Fed Vice Chair Richard Clarida said that the economy was still in a deep hole and policymakers "are not even going to begin thinking" about raising interest rates for now.

Switzerland's central bank retained its negative interest rates and said the expansionary monetary policy stance is needed to cushion the impact of the coronavirus pandemic on economic activity and inflation.

About high valuation of Swiss franc, the bank said it is willing to 'intervene more strongly' in the foreign exchange market, while taking the overall exchange rate situation into consideration.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164387/

USD/CAD Rate Searches for Resistance as RSI Tracks Upward Trend

USD/CAD trades to a fresh monthly high (1.3418) and the exchange rate may continue to search to resistance as the RSI tracks the upward trend established in September. Via DailyFX - Market News https://ift.tt/32vveVH

Treasuries Close Slightly Higher Following Lackluster Session

After ending the previous session modestly lower, treasuries turned in a lackluster performance during trading on Thursday.

Bond prices spent much of the day lingering near the unchanged line before closing slightly higher. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, edged down by 1 basis point to 0.666 percent.

The choppy trading came following the release of a mixed batch of U.S. economic data, which added to recent uncertainty about the economic outlook.

Early in the day, the Labor Department released a report showing an unexpected uptick in first-time claims for U.S. unemployment benefits in the week ended September 19th.

The report said initial jobless claims inched up to 870,000, an increase of 4,000 from the previous week's revised level of 866,000.

The modest increase surprised economists, who had expected jobless claims to drop to 843,000 from the 860,000 originally reported for the previous week.

Meanwhile, the Commerce Department released a separate report unexpectedly showing another significant increase in new home sales in the U.S. in the month of August.

The Commerce Department said new home sales jumped by 4.8 percent to an annual rate of 1.011 million in August after skyrocketing by 14.7 percent to an upwardly revised rate of 965,000 in July.

Economists had expected new home sales to pull back by 1.2 percent to a rate of 890,000 from the 901,000 originally reported for the previous month.

With the unexpected increase, new home sales surged up to their highest level since reaching 1.016 million in September of 2006.

Traders largely shrugged off the results of the Treasury Department's auction of $50 billion worth of seven-year notes, which attracted modestly below average demand.

The seven-year note auction drew a high yield of 0.462 percent and a bid-to-cover ratio of 2.42, while the ten previous seven-year note auctions had an average bid-to-cover ratio of 2.51.

The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.

Trading on Friday may be impacted by reaction to the Commerce Department's report on durable goods orders in the month of August.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164386/

Crude Oil Futures Settle Higher Again

Crude oil prices moved higher on Thursday despite lingering worries about energy demand outlook in the wake of rising COVID-19 cases and fresh lockdown measures in several parts across Europe.

The U.K., France and Germany have all been reporting spikes in new cases of coronavirus infections and several countries in Europe, including these three, have imposed new restrictions.

West Texas Intermediate Crude oil futures for November ended up $0.38 or almost 1% at $40.31 a barrel, recovering well after early weakness.

Brent crude futures edged up $0.08 or about 0.2% to $41.85 a barrel.

Recent data from Energy Information Administration that showed a drop in U.S. crude inventories supported oil's recovery.

The EIA data on Wednesday showed crude inventories in the country fell by 1.6 million barrels last week. The drop, however, was less than what markets had expected.

Gasoline stockpiles fell by about 4 million barrels last week, while distillate stockpiles showed a drawdown of 3.4 million barrels, according the report from EIA.

However, data showing a drop in U.S. business activity in September limited oil's uptick. The continued impasse over additional fiscal stimulus too raised concerns about economic recovery and weighed on the commodity.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164385/

Gold Futures Close Modestly Higher As Dollar Retreats

Gold futures rebounded from early weakness and two-month lows on Thursday and snapped a three-day losing streak, due largely to some bargain hunting and a slightly weaker dollar.

The dollar index advanced to 94.59 a little before noon, but dropped to 94.20 later in the session. It was last seen at 94.28, down more than 0.1% from previous close.

Continuous surge in coronavirus in several countries across Europe, and uncertainties surrounding the U.S. presidential elections and the U.S. stimulus package lifted the greenback in recent sessions.

Gold futures for December ended up $8.50 or about 0.5% at 1,876.90 an ounce

Silver futures for December edged up $0.091 or 0.4% to $23.196 an ounce, while Copper futures for December closed lower by $0.0250 or about 0.8% at $2.9680 per pound.

Data released by the Labor Department this morning showed an unexpected uptick in first-time claims for U.S. unemployment benefits in the week ended September 19th.

The data said initial jobless claims inched up to 870,000, an increase of 4,000 from the previous week's revised level of 866,000. Economists had expected jobless claims to drop to 843,000 from the 860,000 originally reported for the previous week.

Meanwhile, the Labor Department said the less volatile four-week moving average fell to 878,250, a decrease of 35,250 from the previous week's revised average of 913,500.

A report released by the Commerce Department showed new home sales jumped by 4.8% to an annual rate of 1.011 million in August after skyrocketing by 14.7% to an upwardly revised rate of 965,000 in July. Economists had expected new home sales to pull back by 1.2%.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164384/

US Dollar Winning the Safe-Haven Battle vs JPY and CHF

US Dollar takes the title of preferred safe-haven against the Japanese Yen and Swiss Franc Via DailyFX - Market News https://ift.tt/32vveVH

*Japan Aug Core Consumer Prices Flat On Year

Japan Aug Core Consumer Prices Flat On Year

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164320/

*Finland Aug Retail Sales Up 5.1% On Year: Flash

Finland Aug Retail Sales Up 5.1% On Year: Flash

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164319/

*Finland Aug Producer Prices Up 0.8% On Month

Finland Aug Producer Prices Up 0.8% On Month

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164318/

*Finland Aug Producer Prices Fall 4.1% On Year

Finland Aug Producer Prices Fall 4.1% On Year

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164317/

European Economics Preview: Swiss Monetary Policy Decision Due

The monetary policy announcement from the Swiss National Bank and business confidence from Germany are due on Thursday, headlining a busy day for the European economic news.

At 2.45 am ET, France's statistical office Insee is set to issue business confidence survey data. The sentiment index is forecast to rise to 95 in September from 93 in August.

At 3.00 am ET, manufacturing confidence data is due from Turkey.

Half an hour later, the Swiss National Bank is scheduled to announce its interest rate decision. The bank is expected to leave its key interest rate unchanged at -0.75 percent.

At 4.00 am ET, Germany's Ifo business confidence survey data is due. The business sentiment index is forecast to rise to 93.8 in September from 92.6 in August.

In the meantime, the European Central Bank releases economic bulletin and Norges Bank is set to announce its rate decision. The Norges Bank is expected to hold its rate at zero percent.

At 5.00 am ET, Italy's non-EU foreign trade data is due for August.

At 6.00 am ET, the Confederation of British Industry releases Distributive Trades survey data. The order book balance is forecast to rise to -35 percent in August from -46 percent in July.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164316/

British Pound (GBP) Latest: More GBP/USD Weakness Ahead of Sunak Speech

GBP/USD is continuing to slide on a strong US Dollar as traders wait for a speech by UK Chancellor Rishi Sunak in which he will announce new plans to support jobs through the winter. Via DailyFX - Market News https://ift.tt/32vveVH

Dow Jones Industrial Average Eyeing 200-DMA as Risk Appetite Abates

The Dow Jones Industrial Average looks poised to slide back to its 200-day moving average as risk appetite continues to evaporate in the absence of additional stimulus Via DailyFX - Market News https://ift.tt/32vveVH

Crude Oil Prices Swing Lower on Demand Concerns, Strong USD

Demand concerns and a rising US Dollar sent crude oil prices lower on Wednesday. Cloudy economic recovery prospects weighed on sentiment, despite falling US crude inventories. Via DailyFX - Market News https://ift.tt/32vveVH

EUR/USD Rate Takes Out August Low as RSI Tracks Downward Trend

EUR/USD may face a further decline as it takes out the August low, while the RSI continues to track the downward trend carried over from the end of July. Via DailyFX - Market News https://ift.tt/32vveVH

New Zealand Has NZ$353 Million Trade Deficit

New Zealand posted a merchandise trade deficit of NZ$353 million in August, Statistics New Zealand said on Thursday.

That follows the upwardly revised NZ$447 million trade surplus in July (originally NZ$282 million).

Exports were up NZ$349 million or 8.6 percent on year to NZ$4.41 billion, down from NZ$4.91 billion in the previous month.

Individually, there were rises in aircraft and parts, fruit, live animals and milk powder - while crude oil and fish dropped.

Annual goods exports were valued at NZ$60.7 billion, up NZ$1.6 billion from the previous year.

Imports tumbled NZ$940 million or an annual 16.0 percent to NZ$4.76 billion, up from NZ$4.63 billion a month earlier.

Individually, there were rises in electrical machinery and medical equipment - while vehicles and parts, petroleum products and mechanical machinery were down.

Annual goods imports were valued at NZ$59.4 billion, down NZ$5.3 billion from the previous year.

The average deficit in the previous five August months was NZ$1.3 billion.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164315/

New Zealand August Trade Deficit NZ$353 Million

New Zealand had a merchandise trade deficit of NZ$353 million in August, Statistics New Zealand said on Thursday.

That follows the upwardly revised NZ$447 million trade surplus in July (originally NZ$282 million).

Exports were up NZ$349 million or 8.6 percent on year to NZ$4.41 billion, down from NZ$4.91 billion in the previous month.

Imports tumbled NZ$940 million or an annual 16.0 percent to NZ$4.76 billion, up from NZ$4.63 billion a month earlier.

The average deficit in the previous five August months was NZ$1.3 billion.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164314/

*New Zealand Exports +8.6% On Year In August; Imports -16.0%

New Zealand Exports +8.6% On Year In August; Imports -16.0%

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164313/

*New Zealand Has NZ$353 Million Trade Deficit In August

New Zealand Has NZ$353 Million Trade Deficit In August

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164312/

Gold and Silver Vulnerable on Stagnating Stimulus Talks, USD Resurgence

Gold and silver are at risk of extending their slide from monthly highs as the lack of additional fiscal stimulus and rising geopolitical tensions underpin USD. Via DailyFX - Market News https://ift.tt/32vveVH

Bank Of Japan Minutes Due On Thursday

The Bank of Japan will on Thursday release the minutes from its monetary policy meeting on July 14-15, highlighting a modest day for Asia-Pacific economic activity.

At the meeting, the bank voted 8-1 to retain the interest rate at -0.1 percent on current accounts that financial institutions maintain at the central bank. The bank will also continue to purchase necessary amount of Japanese government bonds without setting an upper limit so that 10-year JGB yields will remain at around zero percent.

New Zealand will provide August figures for imports, exports and trade balance. In July, imports were worth NZ$4.63 billion and exports were at NZ$4.91 billion for a trade surplus of NZ$282 million.

Singapore will see August numbers for industrial production; in July, production was up 1.6 percent on month and down 8.4 percent on year.

Hong Kong will release August figures for imports, exports and trade balance. In July, imports were down 3.4 percent on year and exports fell 3.0 percent for a trade deficit of HKD29.8 billion.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164311/

S&P 500 Breaks 23.8% Fibonacci, Hang Seng and Straits Times Fall

Asia-Pacific equities face a cloudy day ahead after a bloodbath US trading session. The US Dollar climbs, the VIX volatility index surges and risk assets are in a “risk off” mode. Via DailyFX - Market News https://ift.tt/32vveVH

Dollar Continues To Rise On Safe-haven Demand

The U.S. dollar firmed up against most of its peers on Wednesday, extending gains to another session, on increased safe-haven appeal following continued surge in coronavirus cases in Europe and several other countries across the world.

Federal Reserve Chair Jerome Powell, continuing to testify before Congress for the second day, said the U.S. Congress and the Federal Reserve both need to "stay with it" in working to bolster the economic recovery.

Despite progress in rebounding from the coronavirus economic downturn, "there is a long way to go," with millions still jobless compared to where the economy was in February, he said.

"We need to stay with it ... The recovery will go faster if there is support coming both from Congress and the Fed," Powell said.

Meanwhile, with the elections looming, it looks increasingly unlikely that the lawmakers will reach an agreement on a new coronavirus relief bill anytime soon.

The dollar index rose to 94.43 in late afternoon trades, and is currently at 94.40, up 0.44% from previous close.

Against the Euro, the dollar firmed up to $1.1661, gaining about 0.4%. Data from IHS Markit showed the euro area private sector stagnated in September. Encouraging France factory data aided sentiment a bit.

The euro area composite output index declined to 50.1 in September from 51.9 in August. Economists had forecast the reading to drop to 51.7.

Manufacturing output growth accelerated in September to the fastest since February 2018, while services recorded the largest contraction of output since May.

The Pound Sterling strengthened around noon with a unit of Sterling fetching $1.1776, but retreated thereafter to trade around $1.2721, netting a loss of over 0.1%.

The IHS Markit/CIPS flash composite Purchasing Managers' Index (PMI) for UK dropped to a three-month low of 55.7 after hitting a six-year high of 59.1 in the previous month.

The Japanese currency Yen weakened to 105.38 a dollar, losing ground from 104.93 a dollar Tuesday evening.

The Aussie weakened with the AUD-USD pair dropping to 0.7072, about 1.4% down from Tuesday's close of 0.7171.

The Swiss franc was weaker at 0.9237 a dollar, after closing at 0.9198 a dollar on Tuesday.

The Loonie was down 0.6% at 1.3383 a dollar.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164310/

Market Outlook Ahead of the First Biden-Trump Presidential Debate

What is the outlook for financial markets ahead of the first presidential debate and how are Democratic nominee Joe Biden and President Donald Trump doing in the polls? Via DailyFX - Market News https://ift.tt/32vveVH

NZD/USD Forecast: Bearish Price Sequence Brings August Low on Radar

NZD/USD appears to be on track to test the August low (0.6489) as it extends the series of lower highs and lows from earlier this week. Via DailyFX - Market News https://ift.tt/32vveVH

Treasuries Show Modest Move To The Downside

After ending the previous session little changed, treasuries showed a modest move to the downside during trading on Wednesday.

Bond prices climbed off their worst levels of the day but remained in negative territory. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, inched up by 1.2 basis points to 0.676 percent.

The modest weakness among treasuries came as traders reacted to comments from President Donald Trump indicating the U.S. would not follow the U.K.'s lead and implement a second round of lockdowns.

"The U.K. just shut down again. They just announced that they're going to do a shutdown, and we're not going to be doing that," Trump told Fox 2 Detroit on Tuesday. "We understand the disease, we understand how to handle it."

In other coronavirus-related news, Johnson & Johnson (JNJ) announced it has begun a phase 3 trial of its coronavirus vaccine candidate.

Meanwhile, Federal Reserve Chair Jerome Powell, continuing to testify before Congress for the second day, said the U.S. Congress and the Federal Reserve both need to "stay with it" in working to bolster the economic recovery.

Despite progress in rebounding from the coronavirus economic downturn, "there is a long way to go," with millions still jobless compared to where the economy was in February, he said.

"We need to stay with it ... The recovery will go faster if there is support coming both from Congress and the Fed," Powell said.

Bond traders largely shrugged off the results of the Treasury Department's auction of $53 billion worth of five-year notes, which attracted average demand.

The five-year note auction drew a high yield of 0.275 percent and a bid-to-cover ratio of 2.52, while the ten previous five-year note auctions had an average bid-to-cover ratio of 2.49.

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 auction of $50 billion worth of seven-year notes on Thursday.

Trading on Thursday may also be impacted by reaction to reports on weekly jobless claims and new home sales as well as additional testimony from Powell.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164309/

Oil Futures Settle Slightly Higher As Inventories Drop

Crude oil futures settled higher on Wednesday, supported by data showing a drop in U.S. crude inventories last week.

However, gains for the commodity were just modest as worries about energy demand outlook persisted amid continued surge in coronavirus cases in several countries and reports of fresh lockdown measures.

West Texas Intermediate Crude futures for November ended higher by $0.13 or about 0.3% at $39.93 a barrel, retreating from a high of $40.75.

Brent crude futures moved up $0.53 or about 1.3% to $42.25 a barrel, but subsequently fell to $41.68 a barrel.

Data released by U.S. Energy Information Administration (EIA) this morning showed crude inventories in the country fell by 1.6 million barrels last week. The drop, however, was less than what markets had expected.

Gasoline stockpiles fell by about 4 million barrels last week, while distillate stockpiles showed a drawdown of 3.4 million barrels.

A report released by the American Petroleum Institute (API) late Tuesday said crude inventories rose by 691,000 barrels in the week to Sept. 18, rather than falling as analysts forecast.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164308/

Gold Futures Settle Sharply Lower

Gold prices declined sharply on Tuesday and the front-month gold futures contract settled at fresh 2-month low, as the dollar extended its gains to yet another session.

The dollar index rose to 94.31 a little before noon, rising from an early low of 93.93. It was last seen at 93.25, up nearly 0.3% from previous close.

The greenback has been gaining in strength with surging coronavirus cases across Europe resulting in increased demand for the safe-haven currency.

Gold futures for December ended down $39.20 or about 2.1% at $1,868.40 an ounce.

Silver futures for December slid $1.318 to settle at $23.105 an ounce, while Copper futures for December settled at $2.9930 per pound, down $0.0680 from previous close.

Federal Reserve Chairman Jerome Powell, continuing to testify before the Congress for the second day, said, the U.S. Congress and the Federal Reserve both need to "stay with it" in working to bolster the economic recovery.

Despite progress in rebounding from the coronavirus economic downturn, "there is a long way to go," with millions still jobless compared to where the economy was in February, he said.

"We need to stay with it ... The recovery will go faster if there is support coming both from Congress and the Fed," Powell said.

On Tuesday, Powell told the U.S. House Financial Services Committee that the world's largest economy has a long way to go before fully recovering from the coronavirus pandemic.

Separately, U.S. Treasury Secretary Steven Mnuchin said Tuesday that he and the White House continue to seek an agreement with both parties in Congress on another fiscal relief package.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164307/

*Dutch Q2 GDP -9.4% On Year Vs. -0.2% In Q1

Dutch Q2 GDP -9.4% On Year Vs. -0.2% In Q1

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164243/

European Economics Preview: Eurozone Flash PMI Data Due

Flash Purchasing Managers' survey data from euro area and the UK are due on Wednesday, headlining a busy day for the European economic news.

At 2.00 am ET, Germany's market research group GfK is set to release consumer confidence survey data for October. The forward-looking sentiment index is expected to rise to -1 from -1.8 in September.

At 3.00 am ET, Spain's INE releases final GDP data for the second quarter. The statistical office is expected to confirm the quarterly contraction of 18.5 percent.

At 3.15 am ET, IHS Markit releases France's composite PMI data. The composite output index is expected to rise to 51.9 in September from 51.6 in August.

At 3.30 am ET, Germany's flash PMI data is due. Economists forecast the composite PMI to fall to 54.1 in September from 54.4 in August.

Half an hour later, preliminary Purchasing Managers' survey results are due from the euro area. The composite output index is seen at 51.7 in September versus 51.9 in August.

At 4.30 am ET, IHS Markit is scheduled to issue UK composite PMI survey data. Economists forecast the composite PMI to drop to 56.3 from 59.1 in August.

At 8.30 am ET, the Czech National Bank is set to announce its interest rate decision.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164242/

*Malaysia Aug CPI Up 0.2% On Month

Malaysia Aug CPI Up 0.2% On Month

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164241/

*Malaysia Aug CPI -1.4% On Year Vs. -1.3% In July

Malaysia Aug CPI -1.4% On Year Vs. -1.3% In July

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164240/

British Pound (GBP) Latest: GBP/USD Will Likely Fall Further, FTSE Up

GBP/USD dropped through an important support level Tuesday, suggesting more losses are on the way. The next key support comes from the 200-day moving average at 1.2655. Via DailyFX - Market News https://ift.tt/32vveVH

*Australia Sep Flash Composite Output Index 50.5 Vs. 49.4 In August

Australia Sep Flash Composite Output Index 50.5 Vs. 49.4 In August

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164239/

*RBNZ: Alternative Tools Can Be Deployed Independently

RBNZ: Alternative Tools Can Be Deployed Independently

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164238/

*RBNZ Maintains Asset Purchase Programme At NZ$100 Bln

RBNZ Maintains Asset Purchase Programme At NZ$100 Bln

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164237/

*New Zealand Central Bank Holds Key Rate At 0.25%

New Zealand Central Bank Holds Key Rate At 0.25%

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164236/

US Dollar Tracks Shift in Risk Sentiment Despite Powell Testimony

The US Dollar appeared to dismiss Federal Reserve Chair Jerome Powell’s recent testimony as Covid-19 ‘second wave’ concerns fuel haven inflows. Via DailyFX - Market News https://ift.tt/32vveVH

Gold, Silver Price Forecast: Key Supports Broken as US Dollar Strengthens

Gold prices broke a key support level at US$ 1,910, as a rising USD Dollar weighed on precious metal prices. Silver prices drifted lower for a third day, eyeing key support at US$ 23.30. Via DailyFX - Market News https://ift.tt/32vveVH

Japan Manufacturing PMI Inches Higher In September - Jibun Bank

The manufacturing sector in Japan continued to contract in September, albeit at a barely slower pace, the latest survey from Jibun Bank revealed on Wednesday with a manufacturing PMI score of 47.3.

That's up marginally from 47.2 in August, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.

Individually, production and new orders fell markedly again, although the rate of job shedding was the softest in four months. Business confidence rose to its strongest level in more than two years.

The data also showed that the services PMI crept up to 45.6 from 45.0 last month, while the composite index rose to 45.5 from 45.2.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164235/

*Japan Manufacturing PMI 47.3 In September, Services PMI 45.6 - Jibun Bank

Japan Manufacturing PMI 47.3 In September, Services PMI 45.6 - Jibun Bank

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164234/

AUD/USD Rate Eyes August Low as RBA Outlines Monetary Policy Options

AUD/USD appears to be on track to test the August low (0.7076) as the Reserve Bank of Australia (RBA) provides further details regarding the options for monetary policy. Via DailyFX - Market News https://ift.tt/32vveVH

Copper Price Outlook Remains Bullish Despite Shift in Risk Appetite

Copper prices may continue to push higher despite a worrying surge in Covid-19 cases and the lack of progress in Congressional stimulus negotiations. Via DailyFX - Market News https://ift.tt/32vveVH

New Zealand Dollar Gains on RBNZ, But NZD/USD May Follow S&P 500 Lower

While the New Zealand Dollar rose on the RBNZ rate decision, NZD/USD remains at the mercy of risk trends given recent volatility in the S&P 500. Kiwi’s broader decline may continue. Via DailyFX - Market News https://ift.tt/32vveVH

New Zealand Interest Rate Decision On Tap For Wednesday

The Reserve Bank of New Zealand will wrap up its monetary policy meeting on Wednesday and then announce its decision on interest rates, highlighting a busy day for Asia-Pacific economic activity. The RBNZ is widely expected to keep its Official Cash Rate (OCR) unchanged at the record low 0.25 percent.

The central bank in Thailand also will conclude its monetary policy meeting and then announce its decision on interest rates; the bank is widely expected to keep its benchmark lending rate steady at 0.50 percent.

Singapore will provide August figures for consumer prices; in July, overall inflation was down 0.3 percent on month and 0.4 percent on year, while core CPI also sank an annual 0.4 percent.

Japan will see July results for its all-industry activity index and September figures for the manufacturing, services and composite PMIs from Jibun Bank.

In June, the all-industry index climbed 6.1 percent on month. In August, the manufacturing PMI had a score of 47.3, while services was at 45.0 and the composite showed 45.2.

Taiwan will release August numbers for industrial production and retail sales. In July, industrial production was up 2.65 percent on year and retail sales gained an annual 2.5 percent.

The material has been provided by InstaForex Company - www.instaforex.com

source http://www.mt5.com/forex_news/quickview/2164233/