Australian Dollar Advances On Positive China Data

The Australian dollar moved up against its major rivals during the Asian session on Thursday, as China's factory and service sector activities expanded in December, while the Covid vaccine developments and the approval of the Brexit deal by the U.K. Parliament supported demand for riskier assets.

Survey data from the National Bureau of Statistics showed that China's manufacturing sector growth moderated at the end of the year.

The official manufacturing Purchasing Managers' Index fell to 51.9 from 52.1 in November.

The score was forecast to drop marginally to 52.0. A reading above 50 indicates expansion in the sector.

The non-manufacturing PMI that measures sentiment in the services and construction sectors declined to 55.7 in December from 56.4 a month ago.

The widening rollout of vaccines in several countries spurred hopes of a global economic recovery next year.

The passage of the $2.3 trillion stimulus package in the U.S. and prospects for additional stimulus in the near future also lifted sentiment.

The aussie climbed to 0.9820 against the loonie, its highest level since June 2018. On the upside, 1.00 is possibly seen as its next resistance level.

Breaking the key 0.77 level, the aussie firmed to a 2-1/2-year high of 0.7709 against the greenback. The aussie is seen finding resistance around the 0.82 level.

The aussie hit a 1-1/2-year peak of 79.48 against the yen from Wednesday's close of 79.27. The next possible resistance for the aussie is seen around the 82.00 level.

The aussie rallied to the strongest level since September 2019 versus the euro, at 1.5949. If the aussie rises further, 1.56 is seen as its next resistance level.

The aussie rebounded to 1.0669 against the kiwi, from a low of 1.0650 hit at 8:00 pm ET. The aussie is likely to find resistance around the 1.09 level.

Looking ahead, the U.S. weekly jobless claims for the week ended December 26 will be featured in the New York session.

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

source http://www.mt5.com/forex_news/quickview/2169564/

*Turkey Nov Imports Rise 15.9% On Year

Turkey Nov Imports Rise 15.9% On Year

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

source http://www.mt5.com/forex_news/quickview/2169563/

*Turkey Nov Exports Fall 0.9% Annually

Turkey Nov Exports Fall 0.9% Annually

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

source http://www.mt5.com/forex_news/quickview/2169562/

*Turkey Nov Trade Deficit $5.03 Bln Vs. -$1.98 Bln Last Year

Turkey Nov Trade Deficit $5.03 Bln Vs. -$1.98 Bln Last Year

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

source http://www.mt5.com/forex_news/quickview/2169561/

Russia's Service Sector Continues To Contract In December

Russia's service sector logged another downturn in business activity but the pace of contraction remained moderate at the end of the year, survey results from IHS Markit showed Thursday.

The services Purchasing Managers' Index fell to 48.0 in December from 48.2 in the previous month. A score below 50 indicates contraction in the sector.

The survey showed third consecutive fall in new business due to muted customer demand and fall in purchasing power. Likewise, the fall in new export sales eased in December.

Service providers reported a substantial increase in cost burdens in December. Although the rate of input price inflation softened, it was the second-fastest since March. Selling prices increased the most since April 2019.

Service sector firms were more upbeat regarding the outlook for output over the coming 12 months.

In an effort to cut costs, Russian service sector firms reduced their workforce numbers at a solid pace at the end of 2020.

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

source http://www.mt5.com/forex_news/quickview/2169560/

*South Africa Nov Private Sector Credit Up 3.38% Vs. 3.24% In Oct, Consensus 3%

South Africa Nov Private Sector Credit Up 3.38% Vs. 3.24% In Oct, Consensus 3%

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

source http://www.mt5.com/forex_news/quickview/2169559/

*South Africa Nov M3 Money Supply Up 8.18% On Year Vs. 9.83% In Oct, Consensus 9.65%

South Africa Nov M3 Money Supply Up 8.18% On Year Vs. 9.83% In Oct, Consensus 9.65%

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

source http://www.mt5.com/forex_news/quickview/2169558/

*Russia Dec Services PMI 48.0 Vs. 48.2 In November

Russia Dec Services PMI 48.0 Vs. 48.2 In November

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

source http://www.mt5.com/forex_news/quickview/2169557/

Dutch Retail Sales Growth Accelerates In November

Dutch retail sales growth accelerated in November driven by higher turnover in both food and non-food sectors, data published by the Central Bureau of Statistics showed Thursday.

Retail turnover climbed 9.6 percent on a yearly basis in November, following a 7.3 percent rise in October. This was the seventh consecutive rise in turnover. Turnover in food stores as well as non-food stores climbed 5.9 percent each from the previous year. Online turnover surged 55.5 percent.

Meanwhile, adjusted turnover grew at a slower pace of 5.4 percent after expanding 9 percent in October.

Data showed that sales volume was 8.4 percent higher than in November 2019.

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

source http://www.mt5.com/forex_news/quickview/2169556/

South Korea's Inflation Slows In December

South Korea's inflation slowed marginally in December, data from Statistics Korea revealed on Thursday.

Consumer price inflation eased to 0.5 percent from 0.6 percent in November. The rate came in line with expectations.

Excluding food and energy, core inflation also slowed to 0.5 percent from 0.6 percent.

Month-on-month, consumer prices gained 0.2 percent, in contrast to a 0.1 percent drop in the previous month. At the same time, core consumer prices remained flat in December.

Data showed that food and non-alcoholic beverages prices advanced 6.2 percent and that of clothing and footwear by 0.6 percent.

Cost of housing, water, electricity gas and other fuels gained 0.1 percent, while alcoholic beverages and tobacco prices were down 0.1 percent.

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

source http://www.mt5.com/forex_news/quickview/2169555/

*Dutch Nov Retail Turnover Rises 9.6% On Year Vs. 7.3% In October

Dutch Nov Retail Turnover Rises 9.6% On Year Vs. 7.3% In October

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

source http://www.mt5.com/forex_news/quickview/2169554/

Bitcoin (BTC) Latest: BTC/USD at Record High, Takes Aim at 30,000

The Bitcoin price rose again in early European business Thursday, hitting a record high above $29,000 and in a good position to reach $30,000 soon. Via DailyFX - Market News https://ift.tt/32vveVH

China's Manufacturing Sector Growth Moderates In December

China's manufacturing sector growth moderated at the end of the year, survey data from the National Bureau of Statistics showed Thursday.

The official manufacturing Purchasing Managers' Index fell to 51.9 from 52.1 in November.

The score was forecast to drop marginally to 52.0. However, a reading above 50 indicates expansion in the sector.

The export order sub-index in manufacturing eased to 51.3 from 51.5 in November.

The non-manufacturing PMI that measures sentiment in the services and construction sectors declined to 55.7 in December from 56.4 a month ago.

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

source http://www.mt5.com/forex_news/quickview/2169553/

British Pound Aiming Higher as UK Lawmakers Approve Brexit Trade Deal

The British Pound may continue outperforming its haven-associated counterparts as UK lawmakers ratify the post-Brexit trade deal with the EU and regulators approve AstraZeneca’s Covid-19 vaccine. Via DailyFX - Market News https://ift.tt/32vveVH

*South Korea Dec Inflation 0.5% Vs. 0.6% In Nov, Consensus 0.6%

South Korea Dec Inflation 0.5% Vs. 0.6% In Nov, Consensus 0.6%

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

source http://www.mt5.com/forex_news/quickview/2169552/

*China Dec Official Non-manufacturing PMI 55.7 Vs. 56.4 In November

China Dec Official Non-manufacturing PMI 55.7 Vs. 56.4 In November

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

source http://www.mt5.com/forex_news/quickview/2169551/

*China Dec Official Manufacturing PMI 51.9 Vs. 52.1 In Nov, Consensus 52.0

China Dec Official Manufacturing PMI 51.9 Vs. 52.1 In Nov, Consensus 52.0

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

source http://www.mt5.com/forex_news/quickview/2169550/

Gold Price Outlook: Falling Real Yields, USD Weakness to Buoy XAU/USD

Gold prices may continue to push higher in the coming weeks on the back of falling real yields, rising inflation expectations and the possibility of additional fiscal support in 2021. Via DailyFX - Market News https://ift.tt/32vveVH

New Zealand Dollar Outlook: NZD/USD Bulls Push Kiwi to Fresh Multi-Year Highs

The New Zealand Dollar gained versus the Greenback on Wednesday as the US Dollar slid lower. Meanwhile, upcoming Chinese PMI data may drive sentiment after Wall Street pushed higher in thin, low vo... Via DailyFX - Market News https://ift.tt/32vveVH

USD Price Outlook: US Dollar Sinks as Euro Rallies to 1.2300

USD price action weakened broadly on Wednesday and sent the US Dollar Index plunging to fresh yearly lows as the Euro extended its rally to the 1.2300-level. Via DailyFX - Market News https://ift.tt/32vveVH

Crude Oil Futures Settle Higher After Data Shows Sharp Drop In Inventories

Oil prices moved higher on Wednesday, lifted by data showing a larger than expected decline U.S. crude inventories in the week ended December 25.

A weaker dollar too contributed to oil's uptick.

West Texas Intermediate Crude oil futures for February ended up $0.40 or about 0.8% at $48.40 an ounce.

Brent crude futures were up $0.27 or 0.52% at $51.50 a barrel a little while ago.

Data released by the Energy Information Administration (EIA) this morning showed crude inventories in the U.S. fell by 6.1 million barrels last week, significantly more than an expected drop of about 3.8 million barrels.

A report released by the American Petroleum Institute (API) late Tuesday said U.S. crude inventories fell 4.79 million barrels last week to 492.9 million barrels, much higher than an expected drop of about 3.1 million barrels.

According to Baker Hughes' report, the number of U.S. oil rigs rose by 3 this week to 267. Baker Hughes releases its data usually on Friday, but this week, it has released it early as Friday is a holiday for New Year's Day.

Meanwhile, traders continue to look ahead to the OPEC meeting, scheduled to take place on January 4. The group and its allies, including Russia, are set to discuss tapering oil output cuts.

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

source http://www.mt5.com/forex_news/quickview/2169549/

Treasuries Close Slightly Higher After Another Lackluster Session

After closing nearly unchanged for two consecutive sessions, treasuries continued to show a lack of direction during trading on Wednesday.

Bond prices spent most 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 nearly a basis point to 0.926 percent.

The choppy trading on the day came as many traders remained away from their desks ahead of the New Year's Day holiday on Friday.

Traders largely shrugged off a report from the National Association of Realtors showing a continued decrease in U.S. pending home sales in the month of November.

NAR said its pending home sales index slid 2.6 percent to 125.7 in November after falling by 0.9 percent to 129.1 in October. Economists had expected pending home sales to come in unchanged.

A pending home sale is one in which a contract was signed but not yet closed. Normally, it takes four to six weeks to close a contracted sale.

Meanwhile, a separate report from MNI Indicators showed an unexpected acceleration in the pace of growth in Chicago-area business activity in the month of December.

MNI Indicators said its Chicago business barometer rose to 59.5 in December from 58.2 in November, with a reading above 50 indicating growth. Economists had expected the barometer to dip to 57.0.

Traders also kept an eye on developments in Washington, as lawmakers haggle over increasing stimulus checks to $2,000 from $600.

Senate Majority Leader Mitch McConnell, R-Ken., blocked Democratic efforts to fast-track a House approved measure to increase the size of the checks.

McConnell has instead proposed a bill that would tie the bigger stimulus checks to the repeal of a provision that protects social media platforms and the creation of an election fraud commission.

With Democrats likely to oppose the combined package, Senate Minority Leader Chuck Schumer, D-N.Y., described the move by McConnell as a "blatant attempt to deprive Americans of a $2,000 survival check."

Political observers have suggested McConnell added the so-called "poison pill" to give cover to Georgia Senators seeking re-election in next week's crucial run-offs.

A report on weekly jobless claims may attract attention on Thursday, although trading activity is likely to remain light as some traders look to get a head start on New Year's Eve celebrations.

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

source http://www.mt5.com/forex_news/quickview/2169548/

Gold Futures Settle Higher As Dollar Tumbles To Near 3-year Low

Gold futures settled higher on Wednesday, as the dollar slipped to near three-year lows amid optimism about more stimulus from U.S. policymakers.

The dollar index, which fell to 89.56, staged a modest recovery subsequently and was last seen at 89.69, down 0.34% from previous close.

Gold futures for February ended up by $10.50 or about 0.6% at $1,893.40 an ounce.

Silver futures for March ended higher by $0.356 at $26.573 an ounce, while Copper futures for March settled at $3.5490 per pound, down $0.0065 from previous close.

In economic news, a report from the National Association of Realtors showed a continued decrease in U.S. pending home sales in the month of November. The data said NAR's pending home sales index eased by 2.6% to 125.7 in the month, after falling by 0.9% to 129.1 in October. Economists had expected pending home sales to come in unchanged.

A report released by MNI Indicators showed an unexpected acceleration in the pace of growth in Chicago-area business activity in the month of December. MNI Indicators said its Chicago business barometer rose to 59.5 in December from 58.2 in November. Economists had expected the barometer to dip to 57.0.

Reports say the volume of various COVID metrics in the United States rebounded on Wednesday, with number of deaths and total hospitalizations in the country rising to new highs.

The authorities have also confirmed the first known case of the new Covid-19 variant in the United States. According to experts, the new variant is considered to be more transmissible than the previous strains of coronavirus.

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

source http://www.mt5.com/forex_news/quickview/2169547/

*UK Dec Nationwide House Prices Rise 7.3% On Year Vs. 6.5% In Nov, Consensus 6.7%

UK Dec Nationwide House Prices Rise 7.3% On Year Vs. 6.5% In Nov, Consensus 6.7%

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

source http://www.mt5.com/forex_news/quickview/2169506/

*UK Dec Nationwide House Prices Up 0.8% M-o-M Vs. 0.9% In Nov, Consensus 0.4%

UK Dec Nationwide House Prices Up 0.8% M-o-M Vs. 0.9% In Nov, Consensus 0.4%

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

source http://www.mt5.com/forex_news/quickview/2169507/

Amended: China Lowers 2019 GDP Growth To 6.0%

Corrected headline

China downgraded its economic growth for 2019 on Wednesday, which is set to provide a low base for the 2020 growth calculation.

The National Bureau of Statistics revised down the GDP growth for 2019 to 6.0 percent from 6.1 percent. For 2019, the government had targeted 6.0-6.5 percent annual expansion.

This year China avoided setting economic growth target for the first time due to the uncertainty posed by the outbreak of Covid-19.

The NBS is set to publish the fourth quarter GDP data on January 18. China is expected to be the only major economy to expand in 2020 as it managed to control the spread of the coronavirus.

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

source http://www.mt5.com/forex_news/quickview/2169505/

China Lowers 2019 GDP Growth To 6.1%

China downgraded its economic growth for 2019 on Wednesday, which is set to provide a low base for the 2020 growth calculation.

The National Bureau of Statistics revised down the GDP growth for 2019 to 6.0 percent from 6.1 percent. For 2019, the government had targeted 6.0-6.5 percent annual expansion.

This year China avoided setting economic growth target for the first time due to the uncertainty posed by the outbreak of Covid-19.

The NBS is set to publish the fourth quarter GDP data on January 18. China is expected to be the only major economy to expand in 2020 as it managed to control the spread of the coronavirus.

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

source http://www.mt5.com/forex_news/quickview/2169504/

*Russia Dec Manufacturing PMI 49.7 Vs. 46.3 In November

Russia Dec Manufacturing PMI 49.7 Vs. 46.3 In November

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

source http://www.mt5.com/forex_news/quickview/2169503/

*China Cuts 2019 GDP Growth To 6% From 6.1%

China Cuts 2019 GDP Growth To 6% From 6.1%

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

source http://www.mt5.com/forex_news/quickview/2169502/

European Economics Preview: UK Nationwide House Price Data Due

House prices from the UK and flash consumer prices from Spain are due on Wednesday, headlining a light day for the European economic news.

At 1.00 am ET, IHS Markit releases Russia's manufacturing Purchasing Managers' survey data for December.

At 2.00 am ET, UK Nationwide house price data is due. House price inflation is seen rising to 6.7 percent in December from 6.5 percent in November.

At 3.00 am ET, Spain's INE publishes preliminary consumer and producer prices for December. Economists forecast the harmonized index of consumer prices to drop 0.7 percent annually following a 0.8 percent decrease in November.

In the meantime, Switzerland's KOF leading index is due. The index reading is seen at 100.5 in December versus 103.5 a month ago.

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

source http://www.mt5.com/forex_news/quickview/2169501/

British Pound (GBP) Latest: GBP/USD Likely to Head Back Above 1.36

GBP/USD is benefiting from a weak USD as optimism about loose monetary policy worldwide and the roll out of coronavirus vaccines lifts ‘risk-on’ assets including GBP, EUR and AUD. Via DailyFX - Market News https://ift.tt/32vveVH

Dow Jones, Russell 2000 at Risk as Senate Blocks Stimulus Checks Vote

The Dow Jones and Russell 2000 may come under pressure in the near term as Senate Republicans blocked an attempt by Democrats to increase stimulus payments to $2000. Via DailyFX - Market News https://ift.tt/32vveVH

Gold, Crude Oil Prices Climb as US Dollar Sinks. Eyes on Senate Stimulus Talks

Gold and crude oil prices are gaining during Wednesday’s APAC trading session as the US Dollar weakens. Will this trend continue over the remaining 24 hours? All eyes are on US stimulus talks. Via DailyFX - Market News https://ift.tt/32vveVH

South Korea Industrial Production Climbs 0.3% In November

Industrial output in South Korea rose a seasonally adjusted 0.3 percent on month in November, Statistics Korea said on Wednesday - shy of expectations for an increase of 0.8 percent following the 1.2 percent contraction in October.

On a yearly basis, industrial production gained 0.5 percent - again missing forecasts for an increase of 1.0 percent after sinking 2.2 percent in the previous month.

The index of all industry production was up 0.7 percent on month and down 0.6 percent on year after dropping 0.1 percent on month and 2.6 percent on year in October.

The Manufacturing Production Index in November increased 0.3 percent on month and 0.7 percent on year. The Manufacturing Shipment Index added 0.3 percent on month and 1.2 percent on year. The Manufacturing Inventory Index fell 1.2 percent on month and 1.3 percent on year.

The Production Capacity Index in November eased 0.1 percent both on month and on year. The Index of Capacity Utilization Rate added 0.1 percent on month but fell 0.5 percent on year.

The Manufacturing Average Capacity Utilization Rate in November marked 73.8 percent, which showed no change from the previous month. The Index of Services in November gained 0.7 percent on month but shed 1.4 percent on year.

The Retail Sales Index in November shed 0.9 percent on month and 1.5 percent on year. The Equipment Investment Index jumped 3.6 percent on month and 5.7 percent on year.

The Domestic Machinery Shipment Index spiked 9.7 percent on year. The value of Domestic Machinery Orders Received in November sank 2.1 percent on year. The value of Construction Completed at constant prices gained 2.1 percent on month but lost 0.8 percent on year. The value of Construction Orders Received at current prices surged an annual 30.0 percent.

The Composite Coincident Index in November rose 0.7 percent on month. The Cyclical Component of Composite Coincident Index, which reflects current economic situations, added 0.5 points on month. The Composite Leading Index gained 0.9 percent on month. The Cyclical Component of Composite Leading Index, which predicts the turning point in business cycle, rose 0.7 points on month.

Also on Wednesday: . Statistics Korea said that the value of retail sales in South Korea was down a seasonally adjusted 1.0 percent on month in November, following the 0.9 percent contraction in the previous month. On a yearly basis, retail sales skidded 1.5 percent after dropping 0.2 percent a month earlier. . The Bank of Korea said that business confidence eased in December with an unadjusted Business Survey Index score of 82.0 - down from 85.0 in November. Seasonally adjusted, the index score was 83.0. The outlook fell from 81.0 to 77.0.

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

source http://www.mt5.com/forex_news/quickview/2169500/

Indian Rupee Forecast: Will USD/INR Reverse as CPI Brings RBI Cuts in Focus?

The Indian Rupee has been struggling to capitalize on a weaker US Dollar. Will lower inflation expectations change USD/INR’s trajectory? What are some risks the Nifty 50 is facing? Via DailyFX - Market News https://ift.tt/32vveVH

South Korea Retail Sales Sink 1.0% In November

The value of retail sales in South Korea was down a seasonally adjusted 1.0 percent on month in November, Statistics Korea said on Wednesday.

That follows the 0.9 percent contraction in the previous month.

On a yearly basis, retail sales skidded 1.5 percent after dropping 0.2 percent a month earlier.

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

source http://www.mt5.com/forex_news/quickview/2169499/

South Korea Industrial Output Rises 0.3% In November

Industrial production in South Korea was up a seasonally adjusted 0.3 percent on month in November, Statistics Korea said on Wednesday - shy of expectations for an increase of 0.8 percent following the 1.2 percent contraction in October.

On a yearly basis, industrial production gained 0.5 percent - again missing forecasts for an increase of 1.0 percent after sinking 2.2 percent in the previous month.

The index of all industry production was up 0.7 percent on month and down 0.6 percent on year after dropping 0.1 percent on month and 2.6 percent on year in October.

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

source http://www.mt5.com/forex_news/quickview/2169498/

*South Korea Retail Sales -1.0% On Month, -1.5% On Year In November

South Korea Retail Sales -1.0% On Month, -1.5% On Year In November

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

source http://www.mt5.com/forex_news/quickview/2169497/

*South Korea Industrial Production +0.3% On Month, +0.5% On Year In November

South Korea Industrial Production +0.3% On Month, +0.5% On Year In November

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

source http://www.mt5.com/forex_news/quickview/2169496/

Dollar Stays Weak Despite Paring Some Early Losses

The U.S. dollar was weak against most of its rivals on Tuesday, weighed down by a massive stimulus package signed by President Donald Trump.

The currency fell sharply in the Asian session after U.S. House of Representatives backed President Donald Trump's push for increasing the direct payments in the coronavirus relief package and sent the bill to the Senate.

However, it pared some losses as the session progressed following Senate Majority Leader Mitch McConnell, R-Ken., blocking an effort by Senate Minority Leader Chuck Schumer, D-N.Y., to unanimously approve the House bill.

The dollar index, which fell to 89.85, recovered to 90.01 by late afternoon, but was still trailing its previous close by about 0.36%.

The Euro and Pound Sterling, both gained in strength against the dollar earlier in the day, but gave up some points as the day progressed.

Against the Euro, the dollar was hovering around $1.2250, and against Pound Sterling, it was trading at $1.3500.

The Yen recovered after early weakness on Tuesday. A little while ago, it was trading at 103.56 a dollar.

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

source http://www.mt5.com/forex_news/quickview/2169495/

Silver Price Outlook: XAG/USD Lower as Increased Direct Payments Hit Roadblock

Silver prices fell on Tuesday after increased stimulus payments to Americans hit a roadblock in the Senate. Wall Street trading ended the day mostly lower alongside XAG/USD as inflation bets eased. Via DailyFX - Market News https://ift.tt/32vveVH

South Korea Industrial Production Data Due On Wednesday

South Korea will on Wednesday release November numbers for industrial production and retail sales, highlighting a light day for Asia-Pacific economic activity.

Industrial production is expected to add 0.8 percent on month and 1.0 percent on year after sinking 1.2 percent on month and 2.2 percent on year in October. Retail sales were down 0.9 percent on month and 0.2 percent on year in October.

Thailand will see November results for retail sales, current account and its coincident index. In October, sales were down 5.7 percent on year, while the current account showed a surplus of $0.99 billion and the coincident index had a score of 126.48.

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

source http://www.mt5.com/forex_news/quickview/2169494/

Oil Futures Settle Higher Ahead Of Inventory Data

Crude oil prices moved higher on Tuesday amid hopes energy demand will pick up in the event of the U.S. policymakers deciding to provide additional stimulus to boost economic growth.

Traders were also reacting to reports saying crude oil inventories in the U.S. may have dropped in the week ending December 25th.

Reports citing a poll by Reuters say oil stockpiles may have dropped last week. The report says crude stocks likely fell by 2.1 million barrels in the week.

The official data from Energy Information Administration (EIA) is due out on Wednesday.

The American Petroleum Institute's weekly oil report is due later today.

West Texas Intermediate Crude oil futures for February ended higher by $0.38 or about 0.8% at $48.00 a barrel.

Brent crude futures were up $0.36 or 0.7% at $51.26 a barrel a little while ago.

There are expectations that energy demand may see an increase sometime in the first quarter of the coming year thanks to positive developments on the vaccine front.

However, the reimposition of movement restrictions in the U.K. and several parts of Europe and Africa due to the spread of a new variant of the coronavirus remains a major concern.

The market is also looking ahead to the upcoming meeting of the Organization of the Petroleum Exporting Countries and allies, including Russia. The meeting is scheduled to take place next Monday (January 4, 2021).

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

source http://www.mt5.com/forex_news/quickview/2169493/

Treasuries Close Nearly Unchanged For Second Straight Day

After ending the previous session nearly unchanged, treasuries showed a lack of direction over the course of the trading day on Tuesday.

Bond prices recovered from an initial move to the downside and spent the rest of the day lingering near the unchanged line. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, inched up by less than a basis point to 0.935 percent.

The choppy trading on the day came amid light volume, as many traders remain away from their desks ahead of the New Year's Day holiday on Friday.

A lack of major U.S. economic data also kept some traders on the sidelines ahead of the release of reports on pending home sales and weekly jobless claims in the coming days.

Traders also kept an eye on the latest developments in Washington after President Donald Trump signed a coronavirus relief and government spending bill over the weekend.

Trump has called for the direct payments included in the bill to be increased to $2,000 from $600, and the House voted Monday to approve a measure increasing the size of the stimulus checks.

However, Senate Majority Leader Mitch McConnell, R-Ken., blocked an effort by Senate Minority Leader Chuck Schumer, D-N.Y., to unanimously approve the House bill.

The bond market shrugged off the results of the Treasury Department's auction of $59 billion worth of seven-year notes, which attracted below average demand.

The seven-year note auction drew a high yield of 0.662 percent and a bid-to-cover ratio of 2.31, while the ten previous seven-year note auctions had an average bid-to-cover ratio of 2.48.

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

On Monday, the Treasury revealed its auctions of $58 billion worth of two-year notes and $59 billion worth of five-year notes also attracted below average demand.

Trading on Wednesday may be impacted by reaction to reports on Chicago-area business activity and pending home sales, although trading activity is likely to remain relatively subdued.

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

source http://www.mt5.com/forex_news/quickview/2169492/

Gold Futures Settle Marginally Higher

Gold prices edged marginally higher on Tuesday thanks to a weak dollar and slightly easing equity markets.

The dollar index, which fell to 89.85, was last seen at 89.98, down by about 0.4% from previous close.

Gold futures for February ended up $2.50 or about 0.1% at $1,882.90 an ounce after swinging between gains and losses right through the session.

Silver futures for March ended lower by $0.322 at $26.217 an ounce, while Copper futures for March settled at $3.5555 per pound, down $0.0165 from previous close.

U.S. stocks retreated after a positive start as Senate Majority Leader Mitch McConnell blocked an attempt to push through a bill proposing an increase in direct payments in the coronavirus relief package.

The House Representatives had passed the bill to raise direct payments to eligible Americans from $600 to $2,000.

President Donald Trump, who had signed a massive $2.3 trillion fiscal relief package, that included a $900 billion in pandemic relief, demanded the increase in direct payments to Americans.

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

source http://www.mt5.com/forex_news/quickview/2169491/

Seven-Year Note Auction Attracts Below Average Demand

The Treasury Department finished off this week's announcements of the results of its long-term securities auctions on Tuesday, revealing its sale of $59 billion worth of seven-year notes attracted below average demand.

The seven-year note auction drew a high yield of 0.662 percent and a bid-to-cover ratio of 2.31.

Last month, the Treasury sold $56 billion worth of seven-year notes, drawing a high yield of 0.653 percent and a bid-to-cover ratio of 2.37.

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

The ten previous seven-year note auctions had an average bid-to-cover ratio of 2.48.

On Monday, the Treasury revealed its auctions of $58 billion worth of two-year notes and $59 billion worth of five-year notes also attracted below average demand.

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

source http://www.mt5.com/forex_news/quickview/2169490/

*Sweden Nov Exports Down 3.0% On Year

Sweden Nov Exports Down 3.0% On Year

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

source http://www.mt5.com/forex_news/quickview/2169469/

Market Sentiment Positive, AUD/USD, NZD/USD, EUR/USD all Firm | Webinar

Trader confidence is high on the US stimulus package, the EU-UK trade deal and the coronavirus vaccine rollout, suggesting further gains for ‘risk-on’ assets. Via DailyFX - Market News https://ift.tt/32vveVH

*Sweden Nov Trade Surplus SEK 1.4 Bln Vs. SEK 2.6 Bln In Last Year

Sweden Nov Trade Surplus SEK 1.4 Bln Vs. SEK 2.6 Bln In Last Year

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

source http://www.mt5.com/forex_news/quickview/2169468/

Turkey Economic Sentiment Falls In December

Turkey's economic confidence decreased in December, figures from the Turkish Statistical Institute showed on Tuesday.

The economic confidence index decreased to 86.4 in November from 89.5 in October. In the same month last year, the confidence index was 97.2.

The consumer confidence index remained unchanged at 80.1 in December.

The measure of manufacturing industry morale rose to 110.4 in December and the confidence index for services decreased to 70.4.

The confidence measures for retail trade declined to 87.6 in December, and that for construction sector fell to 73.3.

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

source http://www.mt5.com/forex_news/quickview/2169467/

Dollar Lower As House Boosts Stimulus Checks In Aid Package

The U.S. dollar fell against its major counterparts in the Asian session on Tuesday, as the sentiment lifted up after the U.S. House of Representatives backed President Donald Trump's push for increasing the direct payments in the coronavirus relief package and send the bill to the Senate.

The House voted on Monday to increase the stimulus checks to $2,000 from $600 as demanded by Trump.

The bill was headed to the Senate, where Republicans are likely to block the measure due the budget deficit.

But the House voted to override Trump's veto of a $740 billion defense bill that was approved by Congress earlier this month.

Risk sentiment improved as Trump's signing of the Covid aid package raised optimism about an economic recovery.

The greenback weakened to 1.3495 versus the pound, from a high of 1.3439 hit at 5:00 pm ET. The currency is seen finding support around the 1.37 region.

The greenback reached as low as 0.8865 against the Swiss franc, setting a 1-week low. On the downside, 0.87 is possibly seen as its next support level.

The U.S. currency pulled back from its early highs of 1.2206 against the euro and 103.82 against the yen and was trading at 1.2243 and 103.62, respectively. The greenback may test support around 1.24 against the euro and 100.00 against the yen, if it drops again.

The greenback edged down to 0.7599 against the aussie, 0.7124 against the kiwi and 1.2820 against the loonie, following its early highs of 0.7574, 0.7096 and 1.2853, respectively. The currency is likely to target support around 0.78 against the aussie, 0.73 against the kiwi and 1.26 against the loonie.

Looking ahead, S&P/Case-Shiller home price index for October is scheduled for release in the New York session.

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

source http://www.mt5.com/forex_news/quickview/2169466/

*Turkey Dec Economic Confidence 86.4 Vs. 89.5 In November

Turkey Dec Economic Confidence 86.4 Vs. 89.5 In November

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

source http://www.mt5.com/forex_news/quickview/2169465/

*Singapore Nov Producer Prices -1.6% On Month Vs. +0.4% In October

Singapore Nov Producer Prices -1.6% On Month Vs. +0.4% In October

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

source http://www.mt5.com/forex_news/quickview/2169464/

*Singapore Nov Producer Prices -8.8% On Year Vs. -8.3% In October

Singapore Nov Producer Prices -8.8% On Year Vs. -8.3% In October

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

source http://www.mt5.com/forex_news/quickview/2169463/

*Singapore Nov Producer Prices Fall 8.8% Annually Vs. -8.3% In October

Singapore Nov Producer Prices Fall 8.8% Annually Vs. -8.3% In October

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

source http://www.mt5.com/forex_news/quickview/2169462/

*Singapore Nov Import Prices Down 5.8% On Year Vs. -7.6% In October

Singapore Nov Import Prices Down 5.8% On Year Vs. -7.6% In October

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

source http://www.mt5.com/forex_news/quickview/2169461/

British Pound (GBP) Latest: GBP/USD Preparing for Future Gains

GBP/USD looks to be consolidating ahead of a further push higher as traders continue to welcome the post-Brexit trade deal between the EU and the UK. Via DailyFX - Market News https://ift.tt/32vveVH

*Philippine Nov Producer Prices Fall 3.4% On Year Vs. -3.3% In October

Philippine Nov Producer Prices Fall 3.4% On Year Vs. -3.3% In October

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

source http://www.mt5.com/forex_news/quickview/2169460/

DAX 30 Index Storms to Record Highs on Vaccine Rollout, Brexit Relief

Germany’s DAX 30 index may continue to push higher on the back of the rollout of Pfizer’s Covid-19 vaccine and the agreement between the EU and UK on a Brexit trade deal. Via DailyFX - Market News https://ift.tt/32vveVH

Crude Oil Prices Struggle to Hold Gains as Stimulus Enthusiasm Fades

Crude oil prices regained some strength as the US House of Representatives voted to raise pandemic relief payments to $2,000 from $600, raising prospects for fuel demand. Yet demand concerns may ca... Via DailyFX - Market News https://ift.tt/32vveVH

Indian Rupee Forecast: Will USD/INR Reverse as CPI Brings RBI Cuts in Focus?

The Indian Rupee has been struggling to capitalize on a weaker US Dollar. Will lower inflation expectations change USD/INR’s trajectory? What are some risks the Nifty 50 is facing? Via DailyFX - Market News https://ift.tt/32vveVH

Natural Gas Outlook: Bears in Firm Control after Warmer Weather Forecasts

Natural gas prices are on track to record the worst monthly performance since December of 2018 following warmer than expected temperature forecasts spurring a rapid selloff. Via DailyFX - Market News https://ift.tt/32vveVH

ASX 200, Nikkei 225 Climb as S&P 500 Hits Record High on Stimulus Bill

Stock markets in Asia-Pacific are climbing as President Donald Trump signed a $2.3 trillion package containing government funding and Covid relief stimulus. All three major US indices closed at rec... Via DailyFX - Market News https://ift.tt/32vveVH

Singapore Trade Data Due On Tuesday

Singapore will on Tuesday release November numbers for imports, exports and trade balance, highlighting a light day for Asia-Pacific economic activity.

In October, imports were down 7.6 percent on year and exports sank an annual 8.0 percent, while producer prices tumbled 9.6 percent on year.

The Philippines will see November figures for producer prices; in October, prices were down 3.3 percent on year.

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

source http://www.mt5.com/forex_news/quickview/2169459/

Australian Dollar Forecast: AUD/NZD, AUD/JPY Higher on Stimulus News

Increased fiscal stimulus bets in the U.S appears to have boosted sentiment this week with the Australian Dollar being a primary beneficiary. However, AUD/NZD and AUD/JPY face thinly traded tapes a... Via DailyFX - Market News https://ift.tt/32vveVH

South Korea Consumer Confidence Sinks In December - BoK

Consumer confidence in South Korea tumbled in December, the Bank of Korea said on Tuesday after its Composite Consumer Sentiment Index (CCSI) came in with a score of 89.8 - down sharply from 97.9 in November.

Consumer sentiment regarding current living standards was three points lower than in November at 86, and that concerning the future outlook for living standards was five points lower at 89.

Sentiment related to future household income was three points lower than in November at 93, and that concerning future household spending was five points lower at 99.

Consumer sentiment concerning current domestic economic conditions was 16 points lower than in November at 56, and that concerning future domestic economic conditions was 10 points lower at 81.

The expected inflation rate for the following year was 1.8 percent.

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

source http://www.mt5.com/forex_news/quickview/2169458/

*South Korea Consumer Sentiment Index 89.8 In December Vs. 97.9 In November - BoK

South Korea Consumer Sentiment Index 89.8 In December Vs. 97.9 In November - BoK

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

source http://www.mt5.com/forex_news/quickview/2169457/

Treasuries Close Little Changed After Recovering From Early Weakness

After coming under pressure early in the session, treasuries regained ground over the course of the trading day on Monday.

Bond prices climbed well off their early lows, ending the day nearly unchanged. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, inched up by less than a basis point to 0.933 percent after reaching a high of 0.958 percent.

The early weakness among treasuries came in reaction to news that President Donald Trump has finally signed a $2.3 trillion government spending bill that includes approximately $900 billion in coronavirus relief funds.

Trump had previously resisted signing the legislation, calling for $600 in direct payments to individuals to be increased to $2,000.

House Democrats are set to vote on an increase in the direct payments later today, while Trump has called on the Republican-controlled Senate to do the same.

Trading activity remained subdued, however, with many traders still away from their desks ahead of the New Year's Day holiday on Friday.

A lack of major U.S. economic data also kept traders on the sidelines, although reports on home prices, pending home sales, and weekly jobless claims may attract attention in the coming days.

Meanwhile, the Treasury Department revealed its auctions of $58 billion worth of two-year notes and $59 billion worth of five-year notes attracted below average demand.

The Treasury is scheduled to announce the result of its auction of $59 billion worth of seven-year notes on Tuesday.

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

source http://www.mt5.com/forex_news/quickview/2169456/

Crude Oil Futures Settle Lower On Demand Worries

Despite positive news on the stimulus front, crude oil prices drifted lower on Monday as rising coronavirus cases and tighter restrictions on travel in several places raised concerns about outlook for energy demand.

Oil prices rebounded after a weak start but retreated subsequently as demand concerns weighed.

West Texas Intermediate Crude oil futures for February ended down $0.61 or about 1.3% at $47.62 a barrel.

Brent crude futures settled at $50.86 a barrel today, netting a loss of $0.43 or about 0.8%.

On Sunday, U.S. President Donald Trump signed legislation for $900 billion in coronavirus economic aid and $1.4 trillion in government spending, providing support for millions of Americans and averting a government shutdown. He had earlier threatened to block the package, calling the $900 billion pandemic relief a "disgrace."

"I am signing this bill to restore unemployment benefits, stop evictions, provide rental assistance, add money for PPP, return our airline workers back to work, add substantially more money for vaccine distribution, and much more," Mr. Trump said in a statement.

Traders were also looking ahead to the upcoming meeting of the Organization of the Petroleum Exporting Countries (OPEC) and allies. The group is expected to discuss tapering oil output cuts. As of now, the group is set to boost output by 500,000 barrels per day from January.

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

source http://www.mt5.com/forex_news/quickview/2169455/

Dutch Producer Confidence Strongest Since March

Dutch producer confidence improved in December to its highest level since March, data from the Central Bureau of Statistics showed on Monday.

The producer sentiment index rose to a nine-month high of -0.4 in December from -3.8 in November. This was below the average score of 0.3 seen over the past twenty years.

Opinion on expected activity improved in December. Producers were less negative about the order book for the seventh straight month, and their assessment of stocks of finished products was more positive, the agency said.

There were more entrepreneurs who expected their production to increase in the coming three months, the agency said.

Producers were more positive in the wood and building materials industry, while sentiment in food industry was more negative.

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

source http://www.mt5.com/forex_news/quickview/2169431/

Pound Strengthens After U.K, EU Finalize Landmark Post-Brexit Trade Deal

The pound advanced against its most major trading partners in the Asian session on Monday, as the historic deal on future trading relationship allowed for tariff-free trade in goods when the U.K. exits the single market and customs union on December 31.

Britain and the European Union struck a post-Brexit deal on Thursday, ensuring that both sides can continue to trade in goods without tariffs or quotas after the transition period.

There will be extra checks and paperwork for businesses at borders from January.

Under the terms of the new deal, there will be no hard border on the island of Ireland between the Republic of Ireland and Northern Ireland.

The U.K.'s access to the bloc's financial market must be negotiated outside the accord in specific equivalence deals.

The pact included a five-and-a-half year transition period for the fishing industry, during which the EU fishermen will give up a quarter of the value of the fish they caught in UK waters.

People on short-term business trips would be exempted from market access restrictions such as economic needs tests or imposing work permits.

The UK Parliament is set to vote on the deal on December 30.

The currency strengthened on Thursday, as Britain and the European Union struck a Brexit trade deal to avoid a disastrous departure on the December 31 deadline. It added 0.7 percent versus the franc, 0.4 percent versus the yen and 0.3 percent against both the greenback and the euro for the day.

The pound remained higher versus the greenback, at 1.3568. This marked a 0.3 percent rise from last week's closing value of 1.3531. Next key resistance for the pound is likely seen around the 1.37 level.

After falling to 1.2040 at 6:00 pm ET, the pound edged up 0.3 percent to 1.2076 against the franc. The pair had finished last week's deals at 1.2058. Further rise in the pound may face resistance around the 1.24 level.

The pound gained 0.2 percent versus the yen, approaching 140.57. At last week's trading close, the pair was quoted at 140.27. The pound is likely to face resistance around the 144.00 region, if it gains again.

Data from the Ministry of Economy, Trade and Industry showed that Japan industrial production was unchanged on a seasonally adjusted basis in November. That missed expectations for an increase of 1.2 percent following the 4.0 percent gain in October.

In contrast, the pound depreciated versus the euro, reaching as low as 0.9013. The euro-pound pair was worth 0.8998 at last week's close. The pound is seen facing support around the 0.92 mark.

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

source http://www.mt5.com/forex_news/quickview/2169430/

Lithuania Retail Sales Growth Slows In November

Lithuania's retail sales rose for the seventh month in a row in November, albeit at a softer pace, figures from the statistical office showed on Monday.

Retail sales, excluding VAT, increased a working-day adjusted 6.4 percent year-on-year in November, after a 8.4 percent rise in October.

Sales of non-food stores increased 13.1 percent annually in November and sales in specialized stores rose 6.1 percent.

Sales in non-specialized stores, and those of food, alcoholic beverages and tobacco increased by 4.3 percent, each.

On a month-on-month basis, retail sales fell 0.4 percent in November.

For the January to November period, retail sales rose by a working-day adjusted 2.9 percent from the same period of the previous year.

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

source http://www.mt5.com/forex_news/quickview/2169429/

*Lithuania Nov Retail Sales Down 0.4% On Month

Lithuania Nov Retail Sales Down 0.4% On Month

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

source http://www.mt5.com/forex_news/quickview/2169428/

*Lithuania Nov Retail Sales +6.4% On Year Vs. +8.4% In October

Lithuania Nov Retail Sales +6.4% On Year Vs. +8.4% In October

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

source http://www.mt5.com/forex_news/quickview/2169427/

*Norway Nov Household Consumption +1.5% On Month Vs. -0.3% In October

Norway Nov Household Consumption +1.5% On Month Vs. -0.3% In October

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

source http://www.mt5.com/forex_news/quickview/2169426/

*Norway Nov Retail Sales +2.9% On Month Vs. +1.2% In October

Norway Nov Retail Sales +2.9% On Month Vs. +1.2% In October

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

source http://www.mt5.com/forex_news/quickview/2169425/

*Norway Nov Retail Sales +13.8% On Year Vs. +10.6% In October

Norway Nov Retail Sales +13.8% On Year Vs. +10.6% In October

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

source http://www.mt5.com/forex_news/quickview/2169424/

*Finland Dec Manufacturing Confidence -5 Vs. -13 In November

Finland Dec Manufacturing Confidence -5 Vs. -13 In November

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

source http://www.mt5.com/forex_news/quickview/2169423/

China's Industrial Profits Growth Moderates In November

China's industrial profits logged a double-digit annual growth in November, but the pace of growth moderated notably, data released by the National Bureau of Statistics showed over the weekend.

Industrial profits increased 15.5 percent on a yearly basis in November, following a 28.2 percent surge posted in October.

The slowdown in November was largely driven by a higher base compared with October, the statistical office said.

During January to November period, profits of industrial firms climbed 2.4 percent from the same period last year.

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

source http://www.mt5.com/forex_news/quickview/2169422/

*Finland Dec Consumer Confidence -4.6 Vs. -4.8 In November

Finland Dec Consumer Confidence -4.6 Vs. -4.8 In November

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

source http://www.mt5.com/forex_news/quickview/2169421/

Malaysia Exports Rise In November

Malaysia's exports rose sharply in November, data from the Department of Statistics showed on Monday.

Exports rose 4.3 percent year-on-year to MYR 84.4 billion in November, after a 0.2 percent increase in October. Economists had expected a 3.8 percent rise.

Imports declined 9.0 percent annually to MYR 67.6 billion in November, following a 6.0 percent fall in the previous month. Economists had forecast a fall of 5.7 percent.

The trade surplus totaled MYR 16.8 billion in November, which was above the expected level of MYR 12.6 billion.

On a monthly basis, exports declined 5.0 percent in November and imports decreased 24.0 percent.

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

source http://www.mt5.com/forex_news/quickview/2169420/

*Dutch Business Confidence -0.4 Vs. -3.8 In November

Dutch Business Confidence -0.4 Vs. -3.8 In November

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

source http://www.mt5.com/forex_news/quickview/2169419/

Implied Volatility: What is it & Why Should Traders Care?

Implied volatility, synonymous with expected volatility, is a variable that shows the degree of movement expected for a given market or security. Via DailyFX - Market News https://ift.tt/32vveVH

*Malaysia Nov Imports -9.0% On Year Vs. -6.0% In October

Malaysia Nov Imports -9.0% On Year Vs. -6.0% In October

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

source http://www.mt5.com/forex_news/quickview/2169418/

*Malaysia Nov Exports +4.3% On Year Vs. +0.2% In October

Malaysia Nov Exports +4.3% On Year Vs. +0.2% In October

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

source http://www.mt5.com/forex_news/quickview/2169417/

Gold Prices Rise as Trump Signs Stimulus Package, USD Weakens

Gold prices jumped on Monday as President Trump signed a long-waited US stimulus package and government spending bill. The US Dollar fell while risk assets enjoyed a relief rally. Via DailyFX - Market News https://ift.tt/32vveVH

Japan Industrial Output Unchanged On Month In November

Industrial output in Japan was flat on a seasonally adjusted basis in November, the Ministry of Economy, Trade and Industry said on Monday.

That missed expectations for an increase of 1.2 percent following the 4.0 percent gain in October.

On a yearly basis, industrial production sank 3.4 percent, matching forecasts following the 3.0 percent drop in the previous month.

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

Industries that increased included production machinery, business-oriented machinery and iron and steel. These were offset by declines among motor vehicles, chemicals and plastic products.

Shipments were down 0.9 percent on month and 3.9 percent on year, while inventories fell 1.1 percent on month and 8.7 percent on year. The inventory ratio slipped 1.8 percent on month and 1.2 percent on year.

Industries that contributed to the decline in shipments included motor vehicles, electrical machinery and petroleum products. These were mitigated by gains among production machinery, business oriented machinery and electronic parts and devices.

Industries that contributed to the decline in inventories included chemicals and production machinery. These were offset by gains among iron and steel, paper and plastic products.

According to the METI's forecast of industrial production, output is expected to sink 1.1 percent in December and then spike 7.1 percent in January.

Industries contributing to the loss in December include transport equipment, business oriented machinery and electrical machinery.

Industries contributing to the gain in January include production machinery, business oriented machinery and electronic parts.

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

source http://www.mt5.com/forex_news/quickview/2169416/

Japan Industrial Production Flat On Month In November

Industrial production in Japan was unchanged on a seasonally adjusted basis in November, the Ministry of Economy, Trade and Industry said on Monday.

That missed expectations for an increase of 1.2 percent following the 4.0 percent gain in October.

On a yearly basis, industrial production sank 3.4 percent, matching forecasts following the 3.0 percent drop in the previous month.

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

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

source http://www.mt5.com/forex_news/quickview/2169415/

*Japan Industrial Production Flat On Month, -3.4% On Year In November

Japan Industrial Production Flat On Month, -3.4% On Year In November

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

source http://www.mt5.com/forex_news/quickview/2169414/

AUD/USD, Iron Ore and Copper Prices May Rise on Chinese Industrial Profits

Chinese industrial firms posted a seventh consecutive month of profit growth this week which may support copper and iron ore prices into the new year. AUD/USD rose above trendline support, nearing ... Via DailyFX - Market News https://ift.tt/32vveVH

S&P 500, Hang Seng Weekly Open: Alibaba Probe Weighs on Sentiment

Stock markets are set to open mildly higher on stimulus and vaccine hopes in Asia-Pacific trade. Chinese tech stocks tumbled after Beijing initiated an antitrust probe into Alibaba, weighing on the... Via DailyFX - Market News https://ift.tt/32vveVH

Japan Industrial Production Data Due On Monday

Japan will on Monday release preliminary November numbers for industrial production, highlighting a modest day for Asia-Pacific economic activity. In October, industrial production was up 4.0 percent on month and down 3.0 percent on year.

The Philippines will see November figures for retail sales; in October, sales were up 1.2 percent on year.

Singapore will release November numbers for producer prices; in October, producer prices were down 9.6 percent on year.

Hong Kong will see November figures for imports, exports and trade balance. In October, imports were up 0.6 percent on year and exports were down an annual 1.1 percent for a trade deficit of HKD36.8 billion.

Thailand will provide November data for industrial production; in October, industrial production was down 0.54 percent on year.

Finally, the markets in Australia and New Zealand are closed on Monday in observance of Boxing Day and will re-open on Tuesday.

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

source http://www.mt5.com/forex_news/quickview/2169413/

Copper 1Q Forecast: May Rise Further as Post-Covid Economic Outlook Clears

Copper may continue to rise into fresh multi-year highs as fundamental drivers appear set to strengthen in 2021. Via DailyFX - Market News https://ift.tt/32vveVH

CNH 1Q Forecast: Vaccines and Biden’s Presidency May Threaten Yuan’s “One Way” Trajectory

A potential rebound in the US Dollar as a result of stronger fundamentals and inflation overshoot may lead to a reversal of EM currencies’ bullish trend. More importantly, a possible reigniting of ... Via DailyFX - Market News https://ift.tt/32vveVH

MXN 1Q Forecast: Mexican Peso Outlook - USD/MXN Bearish in 2021 as Recovery Persists

The Mexican Peso looks positioned for a prolonged advance against the US Dollar in 2021. This could present bearish USD/MXN trading opportunities with the Mexican Peso possessing potential to exten... Via DailyFX - Market News https://ift.tt/32vveVH

JPY 1Q Forecast: 2021 Could be the Year JPY Wakes Up

The place to be next year could be JPY, as the charts become increasingly “dead” and coiled up. USD/JPY and EUR/JPY are a couple of charts that hint at possibly making big moves. Via DailyFX - Market News https://ift.tt/32vveVH

AUD 1Q Forecasts: Key Market Trends to Watch for in 2021 FX Market - Long AUD/USD and AUD/JPY

The Australian Dollar may continue to outperform against its US counterpart as the continuation pattern gains traction ahead of 2021. The improvement in investor confidence has also spurred a recov... Via DailyFX - Market News https://ift.tt/32vveVH

AUD, NZD 1Q Forecasts: Commodity Currency Breakout in 2021? Cyclical Upturn Ahead for AUD & NZD

2021 could prove to be the start of a commodity-currency bull market, as long-term price analysis suggests a cyclical shift may be afoot for AUD, NZD against the haven-linked USD. Via DailyFX - Market News https://ift.tt/32vveVH

CAD/JPY 1Q Forecast: Long CAD/JPY - Time to Start Mending the Global Economy

A long CAD/JPY trade hopefully benefits from the nascent economic recovery. I’m looking for both sides of the FX-pair to perform with the Canadian dollar appreciating alongside an uplift in the pri... Via DailyFX - Market News https://ift.tt/32vveVH

EUR/USD 1Q Forecast: US Dollar May Rebound vs. Euro as Fed, ECB Policies Diverge

One major central bank unlikely to pace the Fed is the ECB. A yawning gap between US and Eurozone breakeven rates underscores this, suggesting that the Euro may turn lower as the global monetary po... Via DailyFX - Market News https://ift.tt/32vveVH

JPY 1Q Forecasts: Range USD/JPY 7-Year Wedge, Bullish GBP/JPY Post-Brexit Break

Looking into 2021, I’m interested in the gravity of USD/JPY’s range and the contrast for multiple scenarios to a GBP/JPY climb. Via DailyFX - Market News https://ift.tt/32vveVH

USD/CAD 1Q Forecast: Short USD/CAD Amid a Recovering Global Economy and Dovish Fed

As economies continued to regain their footing, the US Dollar lost much of its luster as the Federal Reserve looks to stand firm on its accommodative policy stance into 2023. On the other hand, the... Via DailyFX - Market News https://ift.tt/32vveVH

NZD/USD 1Q Forecast: Long NZD/USD as RBNZ Rhetoric Improves

The New Zealand Dollar has been the best performing currency towards the end of the year, appreciating 6.8% against the US Dollar in November alone. I expect this appreciation to continue into the ... Via DailyFX - Market News https://ift.tt/32vveVH

1Q Forecasts: Vaccines Mean Hope Springs Eternal - Long MXN/JPY, Long Copper (XCU/USD), Long RUT & NDX

In this low interest rate world with pent up aggregate demand and significant slack in the world’s major economies, there is ample room for growth. If growth is the story of 2021, the underperforme... Via DailyFX - Market News https://ift.tt/32vveVH

USD 1Q Forecast: US Dollar Breaks Multi-year Trend Support – Looking for a Low

One of the most significant technical reactions this past year was in the US Dollar Index. Via DailyFX - Market News https://ift.tt/32vveVH

USD/SGD 1Q Forecast: US Dollar at Risk to Singapore Dollar Amid Hunt for Yield in Emerging Markets

The Singapore Dollar may continue its advance against the US Dollar in 2021 as capital keeps flowing into Emerging Markets. Via DailyFX - Market News https://ift.tt/32vveVH

CAD/CHF 1Q Forecast: Long CAD/CHF – A Combination of Risk Trends and Positioning

As the global economic outlook improves with pent up demand supporting growth, risks are tilted to the upside for oil prices, which in turn is likely to keep the Canadian Dollar afloat, particularl... Via DailyFX - Market News https://ift.tt/32vveVH

GBP/NZD 1Q Forecast: Long GBP/NZD as Competing Sterling and Kiwi Climb Shifts in 2021

On the NZD side, the good news of a potential global economic revival has been largely priced in to the markets already. On the GBP side, there is scope for the UK economy to perform better than wi... Via DailyFX - Market News https://ift.tt/32vveVH

USD/JPY 1Q Forecast: Can the BoJ Keep Up With the Breakneck Pace of the FOMC?

With Shinzo Abe now no longer leading Japan, can Abenomic-fueled Yen losses remain? Via DailyFX - Market News https://ift.tt/32vveVH

Top Trading Lessons: Take Extra Caution Before Joining Popular Trades

The first quarter of 2020 turned traders on their heads as Covid-19 ripped through the global economy. Swift action from the Federal Reserve and other central banks backstopped the global financial... Via DailyFX - Market News https://ift.tt/32vveVH

Top Trading Lessons: A Crisis May Scare Away the Crowd, But Not the Best Traders

Many things that happened in 2020 appear to be counterintuitive, especially when it comes to the stock markets. Via DailyFX - Market News https://ift.tt/32vveVH

Top Trading Lessons: A Lesson on Irrational Exuberance and Trader Psychology

You might have heard the aphorism "the market is not the economy" before. The phrase surfaced quite a bit this past year largely owing to COVID-19 and the economic fallout caused by the pandemic. Via DailyFX - Market News https://ift.tt/32vveVH

Top Trading Lessons: Trade More of What Is in Play, Less of What Isn’t

2020 was filled with extremely high levels of volatility across just about every asset class. The S&P 500 had one of its most volatile years on record, the WTI crude oil front-month contract went n... Via DailyFX - Market News https://ift.tt/32vveVH

Top Trading Lessons: History Doesn't Repeat Itself, But It Often Rhymes

The quote ‘history doesn't repeat itself, but it often rhymes,’ which is largely attributed to Mark Twain, comes to mind as COVID-19 has made 2020 an unforgettable year. Via DailyFX - Market News https://ift.tt/32vveVH

Top Trading Lessons: Don’t Fight the Tape and Don’t Fight the Fed

2020 proved once again that you should always follow two of the commandments laid out by Wall Street legend Marty Zweig in his 1986 book titled “Winning on Wall Street”: don’t fight the tape and de... Via DailyFX - Market News https://ift.tt/32vveVH

Top Trading Lessons: Be Confident – Don’t Listen to Noise

A recurring theme this year has been the huge amount of trading advice, commentary, opinion – aka ‘noise’ – around a majority of my trading decisions in 2020. Via DailyFX - Market News https://ift.tt/32vveVH

The Basics of Technical Analysis

This beginners guide will introduce you to the basics of technical analysis, and how it can be used to trade FX. Via DailyFX - Market News https://ift.tt/32vveVH

Top Trading Lessons: Ignore ‘Market Lore’ and Focus on the Evidence

Seemingly one of the most stubbornly durable bits of “market lore” is that traders treat gold as some sort of ultimate safe haven. Tellingly, the financial news media is often filled with hand-wrin... Via DailyFX - Market News https://ift.tt/32vveVH

Turkey Capacity Utilization Rate Falls In December

Turkey's capacity utilization rate dropped marginally in December, survey data from the Central Bank of the Republic of Turkey showed on Friday.

The capacity utilization rate fell to 75.6 percent in December from 75.8 percent in the previous month.

On a seasonally adjusted basis, the utilization rate came in at 75.4 percent versus 75.3 percent a month ago.

Another report from the central bank showed that the manufacturing confidence index rose to 106.8 in December from 103.9 in November.

Elsewhere, survey data published by the statistical office revealed that confidence weakened across services, retail trade and construction sectors in December.

The services confidence slid 9.2 percent to 70.4 in December. Likewise, the retail trade sentiment index decreased 7.8 percent to 87.6 and the index for construction fell 7.2 percent to 73.3.

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

source http://www.mt5.com/forex_news/quickview/2169412/

*Turkey Dec Capacity Utilization 75.6% Vs. 75.8% In November

Turkey Dec Capacity Utilization 75.6% Vs. 75.8% In November

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

source http://www.mt5.com/forex_news/quickview/2169411/

Top Trading Lessons: A Classic Adage and Weakness: Let Your Winners Run

I have been trading and analysing the markets for approximately two decades, so there have been many lessons learned long the way – most of them with a meaningful degree of pain. Via DailyFX - Market News https://ift.tt/32vveVH

Japan Retail Sales Growth Eases Sharply; Tokyo CPI Falls Further

Japan's retail sales growth eased sharply in November and Tokyo consumer prices logged its third consecutive fall in December as the third wave of coronavirus infections weighed on demand, official data showed Friday.

Retail sales grew 0.7 percent in November from the last year, but much slower than the 6.4 percent growth seen in October, the Ministry of Economy, Trade and Industry reported.

Economists had forecast an annual growth of 1.7 percent. Nonetheless, this was the second consecutive growth after seven straight months of decline.

Elsewhere, data published by the Ministry of Internal Affairs and Communications showed that the consumer price index for Tokyo dropped for the third straight month in December.

The Tokyo CPI declined 1.3 percent annually, following a 0.8 percent drop in November.

Excluding fresh food, consumer prices were down 0.9 percent versus a 0.7 percent decrease in November. This was the biggest fall since 2010. Prices were expected to decrease 0.8 percent.

Another report from the ministry showed that the jobless rate fell to a seasonally adjusted 2.9 percent in November, while the rate was forecast to remain unchanged at 3.1 percent.

The number of employed persons decreased by 550,000 from the previous year, which was the eighth consecutive fall. At the same time, unemployment increased 440,000 annually to 1.95 million.

The ministry said the jobs-to-applicant ratio rose to 1.06 from 1.04 in October.

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

source http://www.mt5.com/forex_news/quickview/2169410/

Japan's Housing Starts Fall At Slower Pace

Japan's housing starts continued to decline in November albeit at a slower pace, data from the Ministry of Land, Infrastructure, Transport and Tourism showed on Friday.

Housing starts were down 3.7 percent on year, following October's 8.3 percent decline. This was also better than the expected decrease of 4.9 percent.

Annualized housing starts rose to 820,000 in November from 802,000 in the previous month.

Further, data showed that construction orders received by the big 50 contractors decreased 4.7 percent on a yearly basis, bigger than the 0.1 percent fall posted in October.

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

source http://www.mt5.com/forex_news/quickview/2169409/

*Japan Nov Construction Orders Down 4.7% Annually Vs. -0.1% In October

Japan Nov Construction Orders Down 4.7% Annually Vs. -0.1% In October

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

source http://www.mt5.com/forex_news/quickview/2169408/

*Japan Nov Housing Starts Fall 3.7% On Year Vs. -8.3% In Oct, Consensus -4.9%

Japan Nov Housing Starts Fall 3.7% On Year Vs. -8.3% In Oct, Consensus -4.9%

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

source http://www.mt5.com/forex_news/quickview/2169407/

Top Trading Lessons: Steer Clear of Speculative Mania and Be Patient

The second half of 2020 was filled with symptoms of excess and disregard for risk management in many markets, particularly in US equities. Via DailyFX - Market News https://ift.tt/32vveVH

Top Trading Lessons: Try to Avoid FOMO

I think an important aspect of markets in 2020 has been trying not to get FOMO (Fear of Missing Out) when volatility was shooting up and “easy profits” could be seen flying around. Via DailyFX - Market News https://ift.tt/32vveVH

Top Trading Lessons: It Pays to Be Nimble in a Crisis, Be Confident in Your Knowledge

As a self-styled central bank Kremlinologist, I pay close attention to what policymakers say, when they say it, and how they say it. But to take central bankers’ statements and turn them into actio... Via DailyFX - Market News https://ift.tt/32vveVH

Top Trading Lessons: Technicals Hold All the Weight, Not the Click-Bait: Covid-19 Edition

I've often advocated that traders remain disciplined to price action staying aware of but not beholden to the headlines. This year was no different. Via DailyFX - Market News https://ift.tt/32vveVH

Oil Edges Lower In Cautious Trade

Oil prices fell in cautious trade on Thursday ahead of the Christmas break.

Benchmark Brent crude edged down 0.1 percent to $51.19 a barrel, while U.S. West Texas Intermediate (WTI) crude futures were down 0.2 percent at $48.05.

Both contracts gained over 2 percent on Wednesday as draws in U.S. inventories of crude, gasoline and distillates stoked hopes of a return in fuel demand.

Concerns surrounding the resurgence of the coronavirus pandemic and a suggestion by U.S. President Donald Trump that he might not sign a stimulus bill into law weighed on prices today, while the downside remained capped by a decline in U.S. crude inventories and Brexit trade deal hopes.

Data from Energy Information Administration (EIA) showed crude inventories in the U.S. fell by 562,000 barrels in the week ended December 18. Gasoline stockpiles were down by 1.1 million barrels last week, while distillate stocks dropped by 2.3 million barrels, the report showed.

Brexit talks have taken place through the night and reports suggest that a trade deal is imminent just a week before the transition period ends.

A last minute hitch related to fishing has delayed the agreement and an announcement is expected later in the day, Irish Foreign Minister Simon Coveney reportedly said.

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

source http://www.mt5.com/forex_news/quickview/2169394/

Taiwan's Jobless Rate Remains Stable In November

Taiwan's unemployment rate remained unchanged in November, figures from the Directorate General of Budget, Accounting and Statistics showed on Thursday.

The jobless rate came in at seasonally adjusted 3.77 percent in November, the same rate as logged in October.

On an unadjusted basis, the unemployment rate was 3.75 percent versus 3.80 percent a month ago.

Data showed that the number of unemployed decreased by 6,000 or 1.23 percent from the previous month to 449,000.

The labor force participation rate was 59.15 percent versus 59.13 percent in October.

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

source http://www.mt5.com/forex_news/quickview/2169393/

Euro Outlook: EUR/USD, EUR/GBP Levels to Watch

G10 FX muted with the exception of GBP. EUR/USD maintains range, EUR/GBP breaking key support. Via DailyFX - Market News https://ift.tt/32vveVH

*Taiwan Nov Jobless Rate Stable At 3.77%

Taiwan Nov Jobless Rate Stable At 3.77%

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

source http://www.mt5.com/forex_news/quickview/2169392/

FTSE 250: UK Shares Strong as Traders Await Brexit Confirmation

UK shares push higher as news breaks of a Christmas Eve Brexit deal Via DailyFX - Market News https://ift.tt/32vveVH

Dutch GDP Grows More Than Initial Estimate In Q3

The Dutch economy grew more than initially estimated in the third quarter, final data from Statistics Netherlands revealed Thursday.

Gross domestic product expanded 7.8 percent sequentially in the third quarter, reversing an 8.5 percent decline seen in the second quarter. The third quarter rate was revised up from 7.7 percent. On a yearly basis, GDP shrank 2.5 percent, but slower than the 9.4 percent decline posted in the second quarter.

The expenditure-side breakdown showed that household consumption was revised down while government spending growth was upwardly revised. Household spending moved up 8.9 percent and government expenditure rose 7.2 percent sequentially.

Gross fixed capital formation also climbed 7.2 percent in the third quarter. Exports of goods and services advanced 8.3 percent and imports of goods and services rose 6.7 percent.

Data showed that employment increased by 165,000 in the third quarter from the previous quarter.

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

source http://www.mt5.com/forex_news/quickview/2169391/

*Dutch Q3 GDP Falls 2.5% On Year, Flash -2.5%

Dutch Q3 GDP Falls 2.5% On Year, Flash -2.5%

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

source http://www.mt5.com/forex_news/quickview/2169390/

*Dutch Q3 GDP Rises 7.8% On Quarter, Flash +7.7%

Dutch Q3 GDP Rises 7.8% On Quarter, Flash +7.7%

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

source http://www.mt5.com/forex_news/quickview/2169389/

Brexit Trade Deal Expected Imminently, Sterling (GBP) Strengthens Across the Board

The EU and UK are expected to announce a post-Brexit trade deal shortly leaving Sterling free to move higher against a range of currencies. Via DailyFX - Market News https://ift.tt/32vveVH

Singapore's Industrial Production Rebounds In November

Singapore's industrial production rebounded strongly in November driven by biomedical manufacturing, data from the Economic Development Board showed Thursday.

Industrial output climbed 17.9 percent on a yearly basis, in contrast to a 0.8 percent fall in October. Production was forecast to grow 15.4 percent.

Excluding biomedical manufacturing, industrial production grew 14 percent from the same period last year.

On a monthly basis, industrial production advanced 7.2 percent, reversing a 19 percent decline in the previous month. This was also faster than the expected 5 percent increase.

Biomedical manufacturing output surged 40.6 percent annually in November. Production of electronics and chemical clusters grew 34.9 percent and 10.1 percent, respectively.

Precision engineering output gained 7.3 percent from the last year. Meanwhile, general manufacturing and transport engineering fell 13.3 percent and 29.5 percent, respectively.

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

source http://www.mt5.com/forex_news/quickview/2169388/

Japan Services PPI Falls For Second Month

Japan's services producer prices declined for the second straight month in November, the Bank of Japan said Thursday.

The services producer price index dropped 0.6 percent annually, following a 0.5 percent decrease a month ago.

On a monthly basis, services producer price inflation eased to 0.1 percent from 0.2 percent in October.

Excluding international transportation, services producer prices were down 0.4 percent versus a 0.3 percent fall in the previous month. Month-on-month, prices gained 0.2 percent, the same rate as posted in October.

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

source http://www.mt5.com/forex_news/quickview/2169387/

*Singapore Nov Industrial Output Rises 7.2% On Month Vs. -19% In Oct, Consensus +5%

Singapore Nov Industrial Output Rises 7.2% On Month Vs. -19% In Oct, Consensus +5%

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

source http://www.mt5.com/forex_news/quickview/2169386/

*Singapore Nov Industrial Output Rises 17.9% Annually Vs. -0.8% In Oct, Consensus 15.4%

Singapore Nov Industrial Output Rises 17.9% Annually Vs. -0.8% In Oct, Consensus 15.4%

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

source http://www.mt5.com/forex_news/quickview/2169385/

*Japan Nov Corporate Services Price Index Falls 0.6% On Year, Consensus -0.6%

Japan Nov Corporate Services Price Index Falls 0.6% On Year, Consensus -0.6%

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

source http://www.mt5.com/forex_news/quickview/2169384/

How to Trade the Impact of Politics on Global Financial Markets

In a slowing global economy, the threat of geopolitical risks destabilizing global growth are elevated and open the door to violent volatility – and trading opportunities. Via DailyFX - Market News https://ift.tt/32vveVH

Crude Oil, Gold Prices Rally to Resistance With Brexit Deal Around Corner

Crude oil and gold prices benefited from US Dollar weakness amid promising signs of an imminent Brexit deal. All eyes are on Boris Johnson, Donald Trump and the new virus strain. Via DailyFX - Market News https://ift.tt/32vveVH

Swiss Franc Technical Analysis: NZD/CHF, CAD/CHF, AUD/CHF Setups to Watch

Chart setups in the Swiss Francoffer key price levels and patterns that can give way to potential swings in the coming week across NZD/CHF, CAD/CHF, and AUD/CHF. Via DailyFX - Market News https://ift.tt/32vveVH

ASX 200, Hang Seng May Ride the Brexit Tailwind as Dow Drifts Higher

Asia-Pacific stocks are set to trade higher as a cyclical bid into financial and energy shares lifted the Dow Jones and S&P 500 overnight. US fiscal stimulus deal and Brexit trade talks remain in f... Via DailyFX - Market News https://ift.tt/32vveVH

Dollar Loses Ground Against Rivals

The U.S. dollar lost ground against its peers on Wednesday, reacting to a slew of economic data, the latest updates on Brexit trade deal talks, and U.S. fiscal stimulus.

On the stimulus front, President Donald Trump slammed the bill passed by the Congress on Tuesday as a "disgrace." In a video posted on Twitter, Trump called on Congress to amend the bill to increase the direct payments to individuals to $2,000 from $600 and "get rid of the wasteful and unnecessary items."

Democrats expressed support for increasing the size of the direct payments, but the idea is likely to face resistance in the Republican-controlled Senate.

The stimulus is attached to a government spending bill that Trump needs to sign by Monday to avoid a government shutdown.

Data from the Labor Department showed initial jobless claims in the U.S. slid to 803,000 in the week ended December 19th, a decrease of 89,000 from the previous week's revised level of 892,000. Economists had expected jobless claims to come in unchanged compared to the 885,000 originally reported for the previous week.

Data from the Commerce Department showed durable goods orders climbed by 0.9% in November after spiking by an upwardly revised 1.8% in October. Economists had expected durable goods orders to rise by 0.6% compared to the 1.3% jump that had been reported for the previous month.

Another report from Commerce Department said new home sales plunged by 11% to an annual rate of 841,000 in November after sliding by 2.1% to a revised rate of 945,000 in October.

A report released by the University of Michigan on Wednesday showed U.S. consumer sentiment improved by less than initially estimated in the month of December. The report said the consumer sentiment index for December was downwardly revised to 80.7 from the previously reported 81.4.

The dollar index, which dropped to a low of 90.16 around mid morning, recovered some ground subsequently and was last seen at 90.36, down 0.33% from previous close.

Against the Euro, the dollar weakened to $1.2221 earlier in the day, but pared some losses as the session progressed. It was down 0.2% at $1.2184 a little while ago.

The Pound Sterling firmed up against the dollar, fetching $1.3495 a unit, about 1% more than Tuesday's closing level. The pound was higher against its major counterparts, as France lifted the travel ban on the U.K., allowing travel in limited circumstances, as the border closure caused chaos during the holiday season.

The European Commission on Tuesday urged EU nations to ease travel bans imposed on Britain in order to ensure essential travel and avoid supply chain disruptions.

Meanwhile, on the Brexit front, after resolving a few fair competition issues, negotiators were reportedly dealing with EU fisheries rights in the U.K. waters. According to some sources, the negotiations were in a final phase and an agreement could be reached by Wednesday night.

The Yen firmed up to 103.37 a dollar before easing to 103.54, but was still stronger by about 0.1%. Japan's leading index rose more than estimated in October, climbing to 94.3 from 93.3 a month earlier, final data from the Cabinet Office showed. In the initial estimate, the reading was 93.8.

The Aussie was up 0.75% against the dollar as the AUD-USD pair rose to 0.7579 from 0.7523.

Against Swiss franc, the dollar shed about 0.12%, fetching CHF 0.8884 a unit, while against the Loonie it was down nearly 0.5% at C$ 1.2848.

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

source http://www.mt5.com/forex_news/quickview/2169383/

AUD/USD, AUD/NZD Struggle on Technical Themes as Traders Eye Holiday Break

The Australian Dollar is taking a break from its longer-term bullish theme with AUD/USD and AUD/NZD struggling against technical levels. Meanwhile, Wall Street trading was mixed as recent economic ... Via DailyFX - Market News https://ift.tt/32vveVH

Oil Futures Settle Sharply Higher After Inventory Data

Crude oil prices rose sharply on Wednesday, rebounding after posting losses in the previous two sessions, after data showed a drop in U.S. crude stockpiles.

France's decision to reopen its borders with the U.K. to travelers and truck drivers who test negative for Covid-19, a weaker dollar and optimism about a post-Brexit trade deal between the U.K. and European Union helped as well.

West Texas Intermediate Crude oil futures for February ended higher by $1.10 or about 2.3% at $48.12 a barrel.

Brent crude futures gained $1.12 or about 2.25% to $51.20 a barrel.

Both WTI and Brent Crude contracts shed about 2% on Tuesday amid worries about a likely drop in energy demand due to the rapidly-spreading new coronavirus strain.

Data from Energy Information Administration (EIA) showed crude inventories in the U.S. fell by 562,000 barrels in the week ended December 18.

The data also said gasoline stockpiles were down by 1.1 million barrels last week, and distillate stocks dropped by 2.3 million barrels.

Oil also found support from the closure of the Qua Iboe crude oil export terminal last week following a fire at the facility.

The U.S. Congressional nod to a $892 billion coronavirus aid package helped boost investor sentiment, but Trump has threatened not to sign the relief bill, saying he wants an increase in the stimulus checks for individuals to $2,000 from $600.

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

source http://www.mt5.com/forex_news/quickview/2169382/

Treasuries Come Under Pressure Amid Pullback In Jobless Claims

Treasuries came under pressure during trading on Wednesday, more than offsetting the modest strength seen in the previous session.

Bond prices climbed off their worst levels after an early move to the downside but remained firmly negative. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, rose by 3.7 basis points to 0.955 percent.

The early weakness among treasuries came following the release of some upbeat economic data, including a report from the Labor Department showing a significant pullback in first-time claims for unemployment benefits in the week ended December 19th.

The report said initial jobless claims slid to 803,000, a decrease of 89,000 from the previous week's revised level of 892,000.

Economists had expected jobless claims to come in unchanged compared to the 885,000 originally reported for the previous week.

The unexpected pullback came after jobless claims reached their highest level since early September in the previous week.

The Commerce Department also released a report showing new orders for U.S. manufactured durable goods increased by more than expected in the month of November.

Selling pressure waned over the course of the morning, however, as separate reports from the Commerce Department showed steep drops in personal income and new home sales.

Uncertainty about a coronavirus relief package approved by Congress has also led to cautious trading after President Donald Trump slammed the bill as a "disgrace" in a video posted on Twitter on Tuesday.

Trump called on Congress to amend the bill to increase the direct payments to individuals to $2,000 from $600 and "get rid of the wasteful and unnecessary items."

Democrats expressed support for increasing the size of the direct payments, but the idea is likely to face resistance in the Republican-controlled Senate.

The stimulus is attached to a government spending bill that Trump needs to sign by Monday to avoid a government shutdown.

Trading activity is likely to be light in a shortened trading session on Thursday, as some traders look to get a head start on the holiday weekend.

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

source http://www.mt5.com/forex_news/quickview/2169381/

Gold Futures Settle Higher As Dollar Weakens

Gold prices edged higher on Wednesday, rebounding from recent losses, after the dollar weakened against most of its peers amid signs of progress in Brexit trade talks.

The dollar index, which fell to 90.16 around mid morning, was last seen at 90.40, down nearly 0.3% from previous close.

Gold futures for February ended up $7.80 or about 0.4% at $1,878.10 an ounce.

Silver futures for March closed stronger by $0.386 at $25.921 an ounce, while Copper futures for March settled at $3.5560 per pound, gaining $0.0360.

In economic news today, first-time claims for U.S. unemployment benefits showed a significant pullback in the week ended December 19th, the Labor Department revealed in a report.

The report said initial jobless claims slid to 803,000, a decrease of 89,000 from the previous week's revised level of 892,000. Economists had expected jobless claims to come in unchanged compared to the 885,000 originally reported for the previous week.

Data from the Commerce Department showed durable goods orders climbed by 0.9% in November after spiking by an upwardly revised 1.8% in October. Economists had expected durable goods orders to rise by 0.6% compared to the 1.3% jump that had been reported for the previous month.

Another report from Commerce Department said personal income slumped by 1.1% in November after falling by a revised 0.6% in October. Economists had expected personal income to dip by 0.3% compared to the 0.7% drop originally reported for the previous month.

The National Association of Realtors released a report on Tuesday that showed existing home sales in the United States pulled back in the month of November.

The Conference Board's report on Tuesday showed consumer confidence in the U.S. has unexpectedly decreased in the month of December.

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

source http://www.mt5.com/forex_news/quickview/2169380/

UK Car Production Declines In November: SMMT

UK car production declined in November, data released by the Society of Motor Manufacturers and Traders, or SMMT, showed Wednesday.

Car manufacturing decreased 1.4 percent annually to 106,243 units in November.

Output for domestic markets dropped 10.4 percent, while that for exports gained marginally by 0.3 percent.

The annual decline in production masks a particularly weak November 2019 when precautionary factory shutdowns in anticipation of a potential 'no deal' Brexit on October 31, depressed output.

Year-to-date production was down -31.0 percent with 380,809 fewer cars manufactured in 2020. This puts the industry on course to produce fewer than a million cars this year for only the second time since the early eighties, the lobby noted.

Around 85 percent of cars built in November were manufactured for exports, highlighting the critical importance of free and fair trade with global markets to UK car makers.

Yet another decline for UK car production is of course concerning, but not nearly as concerning as the New Year nightmare facing the automotive industry if we do not get a Brexit deal that works for the sector, Mike Hawes, SMMT chief executive, said.

"With just nine days to go, the threat of 'no deal' is palpable and the sector, now also reeling from the latest coronavirus resurgence, Tier 4 showroom lockdowns and disruption at critical UK ports, needs more than ever the tariff-free trading arrangements on which our competitiveness is founded, Hawes added.

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

source http://www.mt5.com/forex_news/quickview/2169329/

British Pound (GBP) Latest: Brexit Update Gives Boost to Sterling

GBP on the front foot once again on latest Brexit update. Via DailyFX - Market News https://ift.tt/32vveVH

US Dollar Down as Upbeat Markets Dismiss Trump Stimulus Opposition

The US Dollar fell amid ebbing demand for haven assets as upbeat financial markets shrugged off news that US President Donald Trump refuses to sign a bipartisan Covid relief bill. Via DailyFX - Market News https://ift.tt/32vveVH

European Economics Preview: Germany Import Price Data Due

Import prices from Germany and producer prices from France are due on Wednesday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis is slated to issue Germany import price figures for November. Economists forecast import prices to fall 4 percent annually, following a 3.9 percent decrease in October.

At 2.45 am ET, the French statistical office Insee publishes producer prices for November.

At 3.00 am ET, Spain's INE is set to issue revised quarterly national accounts for the third quarter. According to preliminary estimate, the economy had expanded 16.7 percent sequentially.

At 4.00 am ET, Italy's Istat releases business and consumer confidence survey results. Economists forecast the business confidence index to rise to 90.5 in December from 90.2 in November.

In the meantime, unemployment data is due from Poland. The jobless rate is seen at 6.2 percent in November versus 6.1 percent in October.

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

source http://www.mt5.com/forex_news/quickview/2169328/

Malaysia Consumer Prices Fall Further In November

Malaysia's consumer prices fall further in November, data from the Department of Statistics showed on Wednesday.

Consumer prices declined 1.7 percent year-on-year in November, following a 1.5 percent fall in October. Economists had expected prices to fall again by 1.5 percent.

The annual fall was largely driven by the decline in transportation cost, as prices fell 11.1 percent.

Prices for housing, water, electricity, gas and other fuels declined 3.3 percent yearly in November. Prices for clothing and footwear decreased 0.5 percent and those of furnishings, household equipment and routine household maintenance fell 0.1 percent.

On a monthly basis, consumer prices fell 0.2 percent in November.

The core inflation was 0.7 percent in November.

During the January to November period, consumer prices fell 1.7 percent from the same period last year.

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

source http://www.mt5.com/forex_news/quickview/2169327/

*Japan Oct Lagging Index 91.2 Vs. 91.7 In September

Japan Oct Lagging Index 91.2 Vs. 91.7 In September

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

source http://www.mt5.com/forex_news/quickview/2169326/