Markets gyrated wildly this past week as traders reacted to a barrage of headlines ranging from central bank commentary to GameStop stock price volatility. What's in store for the week ahead?
Forex signals news and analysis, fundamental stock market breakdown including geopolitical analysis and in depth discussion. Up to date live news feed from around the world, stock market specific.
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Sunday, 31 January 2021
Markets Week Ahead: Gold, Dow, Euro-Area GDP, NFPs, BoE & RBA Eyed
Markets gyrated wildly this past week as traders reacted to a barrage of headlines ranging from central bank commentary to GameStop stock price volatility. What's in store for the week ahead? Via DailyFX - Market News https://ift.tt/32vveVH
Stock Market Forecast for the Week Ahead: Will the Mania Continue?
US indices were thrown into disarray last week as an army of retail traders poured into stocks with heavy short interest like GameStop. What makes for an intriguing story is also immensely risky fo... Via DailyFX - Market News https://ift.tt/32vveVH
Stock Market Forecast for the Week Ahead: Will the Mania Continue?
US indices were thrown into disarray last week as an army of retail traders poured into stocks with heavy short interest like GameStop. What makes for an intriguing story is also immensely risky fo...
Euro Forecast: EUR/USD to Shrug Off Any Hints of an ECB Interest Rate Cut
Nobody is seriously expecting the ECB to cut Eurozone interest rates any time soon. It appears keen to persuade the markets that a reduction is possible but there’s little chance EUR/USD will react.
Euro Forecast: EUR/USD to Shrug Off Any Hints of an ECB Interest Rate Cut
Nobody is seriously expecting the ECB to cut Eurozone interest rates any time soon. It appears keen to persuade the markets that a reduction is possible but there’s little chance EUR/USD will react. Via DailyFX - Market News https://ift.tt/32vveVH
Saturday, 30 January 2021
Gold Price Forecast: Is Gold at Risk From a US Dollar Turning Point?
Gold prices consolidating, however, US Dollar may present a risk.
Gold Price Forecast: Is Gold at Risk From a US Dollar Turning Point?
Gold prices consolidating, however, US Dollar may present a risk. Via DailyFX - Market News https://ift.tt/32vveVH
US Dollar Forecast: Where to After GameStop Short-Squeeze Rattled Markets?
The US Dollar may remain in a consolidative state as fundamental risks, such as fiscal stimulus bets, non-farm payrolls and “short-squeezing”, threaten broader stock market sentiment.
US Dollar Forecast: Where to After GameStop Short-Squeeze Rattled Markets?
The US Dollar may remain in a consolidative state as fundamental risks, such as fiscal stimulus bets, non-farm payrolls and “short-squeezing”, threaten broader stock market sentiment. Via DailyFX - Market News https://ift.tt/32vveVH
Crude Oil Forecast: Backwardation Hints at Gains with OPEC JMMC on Tap
Crude oil prices may continue to push higher ahead of OPEC’s JMMC meeting, on the back of futures curve backwardation, vaccination progress and a notable decline in global cases of Covid-19.
Crude Oil Forecast: Backwardation Hints at Gains with OPEC JMMC on Tap
Crude oil prices may continue to push higher ahead of OPEC’s JMMC meeting, on the back of futures curve backwardation, vaccination progress and a notable decline in global cases of Covid-19. Via DailyFX - Market News https://ift.tt/32vveVH
Dollar Exhibits Mixed Trend Against Peers
The U.S. dollar was a bit sluggish on Friday, as major currencies reacted to a slew of economic data from across the globe.
Additionally, markets awaited announcements regarding stimulus, updates on vaccine supplies and continued to track news about coronavirus cases.
In U.S. economic news, a report from the Commerce Department showed personal income climbed by 0.6% in December after tumbling by a downwardly revised 1.3% in November. Economists had expected personal income to inch up by 0.1% compared to the 1.1% slump originally reported for the previous month.
The report also said personal spending dipped by 0.2% in December after falling by a downwardly revised 0.7% a month earlier. Economists had expected spending to decrease by 0.4%, matching the drop originally reported for the previous month.
The University of Michigan's report showed consumer sentiment deteriorated by slightly more than initially estimated in the month of January. The report said the consumer sentiment index for January was downwardly revised to 79.0 from the preliminary reading of 79.2.
Economists had expected the consumer sentiment index to be unrevised from the preliminary reading, which was still down from 80.7 in December.
The dollar index, which fell to 90.36 from a high of 90.78, recovered some ground subsequently and was last seen hovering around 90.55, up 0.11% from previous close.
Against the Euro, the dollar, the euro was up marginally, fetching $1.2133 a unit, compared to $1.2123 Thursday evening. In economic news, the German economy managed to expand in the fourth quarter avoiding a double-dip recession, despite the second wave of coronavirus triggered another lockdown at the end of 2020.
According to preliminary data from the statistical office Insee, the French economy contracted less-than-expected in the fourth quarter.
The dollar firmed up to 1.3701 against Sterling, recovering after trading at $1.3751 a unit of the British currency in the European session.
The Yen was weaker at 104.74 a dollar, sliding from 104.26 a dollar on Thursday. Japan's consumer confidence decreased to the lowest level in five months in January, data from the Cabinet Office showed. On a seasonally adjusted basis, the consumer confidence index decreased to 29.6 in January from 31.8 in December.
Against the Aussie, the dollar gained in strength. The AUD-USD pair was quoting at 0.7639, after trading at 0.7689 in the previous session.
The Swiss franc was weaker at 0.8910, sliding from 0.8888. The KOF Economic Barometer in Switzerland slid to its lowest level since July, falling to 96.5 in January of 2021 from a downwardly revised 104.1 in the previous month and much worse than market expectations of 102.
The Loonie firmed up to 1.2795, gaining from 1.2830 a dollar. The Canadian economy grew 0.7% over a month earlier in November of 2020, following a 0.4% expansion in the previous month and compared to market expectations of a 0.4% gain. GDP fose for the seventh consecutive month following the biggest contraction on record in March and April.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2171211/
AUD/USD Rate Outlook Hinges on February 2021 RBA Rate Decision
The Reserve Bank of Australia (RBA) interest rate decision may fuel the recent rebound in AUD/USD if the central bank retains the current course for monetary policy.
AUD/USD Rate Outlook Hinges on February 2021 RBA Rate Decision
The Reserve Bank of Australia (RBA) interest rate decision may fuel the recent rebound in AUD/USD if the central bank retains the current course for monetary policy. Via DailyFX - Market News https://ift.tt/32vveVH
Treasuries Extend Pullback Seen In Previous Session
Following the notable pullback seen in the previous session, treasuries saw further downside during trading on Friday.
Bond prices regained some ground after coming under pressure in early trading but remained negative. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, rose by 3.6 basis points to 1.093 percent.
The early weakness among treasuries came as traders continue to react to Thursday's upbeat economic data, including a Commerce Department showing U.S. GDP grew 4.0 percent in the fourth quarter.
The Commerce Department released a separate report this morning showing a much bigger than expected increase in U.S. personal income in the month of December, although the report also showed a modest decrease in personal spending.
The report said personal income climbed by 0.6 percent in December after tumbling by a downwardly revised 1.3 percent in November.
Economists had expected personal income to inch up by 0.1 percent compared to the 1.1 percent slump originally reported for the previous month.
Meanwhile, the Commerce Department said personal spending dipped by 0.2 percent in December after falling by a downwardly revised 0.7 percent in November.
Economists had expected spending to decrease by 0.4 percent, matching the drop originally reported for the previous month.
The University of Michigan also released a report showing consumer sentiment deteriorated by slightly more than initially estimated in the month of January.
The report said the consumer sentiment index for January was downwardly revised to 79.0 from the preliminary reading of 79.2.
Economists had expected the consumer sentiment index to be unrevised from the preliminary reading, which was still down from 80.7 in December.
Another report released by the National Association of Realtors on Friday showed pending home sales in the U.S. fell by more than expected in the month of December.
NAR said its pending home sales index slipped by 0.3 percent to 125.5 in December after tumbling by 2.5 percent to 125.9 in November. Economists had expected the index to edge down by 0.1 percent.
Pending home sales decreased for the fourth consecutive month but were still up by 21.4 percent compared to the same month a year ago.
A pending home sale is one in which a contract was signed but not yet closed. Normally, it takes four to six weeks to close a contracted sale.
The Labor Department's closely watched monthly jobs report is likely to attract attention next week along with reports on manufacturing and service sector activity, factory orders and the U.S. trade deficit.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2171210/
Oil Futures Fail To Hold Early Gains, Settle Lower On Demand Worries
Crude oil futures settled lower on Friday as worries about outlook for energy demand due to rising coronavirus cases and delay in vaccine supplies weighed on prices.
Oil prices were also weighed down by uncertainty about additional stimulus from Joe Biden administration happening anytime soon.
However, stronger than expected GDP data from Germany and France limited oil's downside.
West Texas Intermediate Crude oil futures for March ended down $0.14 or about 0.3% at $52.20 a barrel.
Brent crude futures were down $0.16 or about 0.29% at $54.94 a barrel a little while ago.
Crude oil futures gained about 7% in January 2020.
According to Baker Hughes, the number of active U.S. rigs drilling for oil rose by six to 295 this week, rising for the ninth straight week. The total active U.S. rig count rose to 384, adding six this week.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2171209/
Gold Futures Snap Six-session Losing Streak, Settle Modestly Higher
Gold futures moved higher on Friday, snapping a six-session losing streak, as investors sought the safe-haven asset following a sharp surge in speculative trading in stocks by retail investors.
Stock prices took a beating as investor sentiment was jolted by a huge increase in speculative trading from retail investors organized over online forums, such as Reddit.
According to data analytics company S3, hedge funds and other large investors that bet against GameStop have lost more than $5 billion after a cohort of amateur investors joined forces to inflate the price of shares in the U.S. video game chain.
The dollar index, which dropped to 90.36 in the European session from a high of 90.78, recovered subsequently and was last seen hovering around 90.55, up 0.11% from previous close.
Gold futures for April ended up $9.10 or about 0.5% at $1,850.30 an ounce. Gold futures shed about 2.4% in January.
Silver futures for March ended higher by $0.992 at $26.914 an ounce, while Copper futures for March settled at $3.5560 per pound, down $0.0220 from previous close.
In U.S. economic news, a report from the Commerce Department showed personal income climbed by 0.6% in December after tumbling by a downwardly revised 1.3% in November. Economists had expected personal income to inch up by 0.1% compared to the 1.1% slump originally reported for the previous month.
The report also said personal spending dipped by 0.2% in December after falling by a downwardly revised 0.7% a month earlier. Economists had expected spending to decrease by 0.4%, matching the drop originally reported for the previous month.
The University of Michigan's report showed consumer sentiment deteriorated by slightly more than initially estimated in the month of January. The report said the consumer sentiment index for January was downwardly revised to 79.0 from the preliminary reading of 79.2.
Economists had expected the consumer sentiment index to be unrevised from the preliminary reading, which was still down from 80.7 in December.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2171208/
Friday, 29 January 2021
Australia Private Sector Credit Rises 0.3% In December
Private sector credit in Australia was up 0.3 percent on month in December, the Reserve Bank of Australia said on Friday - accelerating from the 0.1 percent gain in November.
On a yearly basis, credit climbed 1.8 percent - up from 1.7 percent a month earlier.
Housing credit added 0.4 percent on month and 3.5 percent on year, while personal credit fell 0.5 percent on month and 12.3 percent on year and business credit gained 0.2 percent on month and 1.0 percent on year.
Broad money was up 0.6 percent on month and 12.6 percent on year.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2171077/
Australia Producer Prices Climb 0.5% On Quarter In Q4
Final demand producer prices were up 0.5 percent on quarter in the fourth quarter of 2020, the Australian Bureau of Statistics said on Friday - following the 0.4 percent gain in the previous three months.
There were quarterly price rises in building construction (+0.5 percent), childcare services (+7.9 percent) and accommodation (+4.3 percent).
There were quarterly declines in specialized machinery and equipment manufacturing (-2.4 percent), sugar and confectionary manufacturing (-5.2 percent) and cigarette and tobacco manufacturing (-5.0 percent).
On a yearly basis, producer prices slipped 0.1 percent after sinking 0.4 percent in the three months prior.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2171076/
*Australia Producer Prices +0.5% On Quarter, -0.1% On Year In Q4
Australia Producer Prices +0.5% On Quarter, -0.1% On Year In Q4
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2171074/
*Australia Private Sector Credit +0.3% On Month, +1.8% On Year In December
Australia Private Sector Credit +0.3% On Month, +1.8% On Year In December
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2171075/
Japan Industrial Output Drops 1.6% On Month In December
Industrial production in Japan dropped a seasonally adjusted 1.6 percent on month in December, the Ministry of Economy, Trade and Industry said on Friday.
That missed forecasts for a decline of 1.5 percent following the 0.5 percent fall in November.
On a yearly basis, industrial production sank 3.2 percent - beating forecasts for a decline of 3.3 percent after the 3.9 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 contributed to the decline were business-oriented machinery, motor vehicles and electrical machinery - offset by gains among chemicals and electronic parts.
Shipments were down 1.6 percent on month and 3.4 percent on year, while inventories rose 1.1 percent on month and dropped 8.4 percent on year. The inventory ratio was up 2.0 percent on month and down 3.1 percent on year.
The METI's forecast of industrial production suggests an increase of 8.9 percent on month in January and a decline of 0.3 percent in February.
Industries expected to contribute to the increase in January include electronic parts, production machinery and business-oriented machinery.
Industries expected to contribute to the decline in February include business-oriented machinery, transport equipment and electrical machinery.
Also on Friday: . The unemployment rate in Japan was a seasonally adjusted 2.9 percent in December, the Ministry of Internal Affairs and Communications said - unchanged from the November reading but was shy of forecasts for 3.0 percent.
The job-to-applicant ratio was 1.06 - unchanged and in line with expectations.
. Overall consumer prices in the Tokyo region were down 0.5 percent on year in January, the Ministry of Internal Affairs and Communications said - following the 1.3 percent drop in December.
Individually, prices were down for food, fuel, medical care, transportation and education. Prices were up for housing, furniture, clothing and recreation.
Core CPI was down 0.4 percent on year versus expectations for a fall of 0.6 percent following the 0.9 percent decline in the previous month.
On a seasonally adjusted monthly basis, overall inflation was up 0.5 percent and core CPI gained 0.6 percent.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2171073/
Japan Industrial Production Sinks 1.6% On Month In December
Industrial output in Japan was down a seasonally adjusted 1.6 percent on month in December, the Ministry of Economy, Trade and Industry said on Friday.
That missed forecasts for a decline of 1.5 percent following the 0.5 percent fall in November.
On a yearly basis, industrial production sank 3.2 percent - beating forecasts for a decline of 3.3 percent after the 3.9 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/2171072/
*Japan Industrial Production -1.6% On Month, -3.2% On Year In December
Japan Industrial Production -1.6% On Month, -3.2% On Year In December
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2171071/
Tokyo Overall Inflation Sinks 0.5% On Year In January
Overall consumer prices in the Tokyo region were down 0.5 percent on year in January, the Ministry of Internal Affairs and Communications said on Friday - following the 1.3 percent drop in December.
Individually, prices were down for food, fuel, medical care, transportation and education. Prices were up for housing, furniture, clothing and recreation.
Core CPI was down 0.4 percent on year versus expectations for a fall of 0.6 percent following the 0.9 percent decline in the previous month.
On a seasonally adjusted monthly basis, overall inflation was up 0.5 percent and core CPI gained 0.6 percent.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2171070/
Japan Unemployment Rate Holds Firm At 2.9% In December
The unemployment rate in Japan was a seasonally adjusted 2.9 percent in December, the Ministry of Internal Affairs and Communications said on Friday.
That was unchanged from the November reading but was shy of forecasts for 3.0 percent.
The job-to-applicant ratio was 1.06 - unchanged and in line with expectations.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2171069/
*Japan Unemployment Rate 2.9% In December
Japan Unemployment Rate 2.9% In December
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2171067/
*Tokyo Overall Inflation -0.5 On Year, Core CPI -0.4% On Year In January
Tokyo Overall Inflation -0.5 On Year, Core CPI -0.4% On Year In January
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2171068/
South Korea Industrial Output Climbs 3.7% In December
Industrial production in South Korea advanced a seasonally adjusted 3.7 percent on month in December, Statistics Korea said on Friday.
That beat forecasts for an increase of 1.2 percent following the 0.3 percent gain in November.
On a yearly basis, industrial production jumped 3.4 percent - again exceeding expectations for a gain of 0.9 percent following the 0.5 percent increase in the previous month.
The Index of all industry production in December increased 0.5 percent on month and fell 0.3 percent on year.
The Manufacturing Production Index gained 3.7 percent on month and 3.4 percent on year. The Manufacturing Shipment Index added 1.3 percent on month and 2.1 percent on year. The Manufacturing Inventory Index fell 0.2 percent on month but increased 1.4 percent on year.
The Production Capacity Index gained 1.5 percent on month and 1.5 percent on year. The Index of Capacity Utilization Rate rose 0.8 percent on month and 0.4 percent on year.
The Manufacturing Average Capacity Utilization Rate in December marked 74.5 percent, which was up 0.6 percentage points on month. The Index of Services sank 1.1 percent on month and 2.2 percent on year. The Retail Sales Index rose 0.2 percent on month but shed 2.0 percent on year.
The Equipment Investment Index added 0.9 percent on month and 5.3 percent on year. The Domestic Machinery Shipment Index in December spiked 11.0 percent on year. The value of Domestic Machinery Orders Received in December sank 6.5 percent on year.
The value of Construction Completed at constant prices slipped 0.9 percent on month and 2.5 percent on year. The value of Construction Orders Received at current prices increased 2.0 percent on year.
The Composite Coincident Index in December increased by 0.3 percent from the previous month. The Cyclical Component of Composite Coincident Index, which reflects current economic situations, was flat on month.
The Composite Leading Index in December added 0.7 percent on month. The Cyclical Component of Composite Leading Index, which predicts the turning point in business cycle, increased by 0.5 points from the previous month.
Also on Friday, Statistics Korea said that the total value of retail sales in South Korea was up a seasonally adjusted 0.2 percent on month in December - following the 1.0 percent contraction in November.
On a yearly basis, retail sales dropped 2.0 percent after sinking 1.5 percent in the previous month.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2171066/
South Korea Retail Sales Rise 0.2% In December
The total value of retail sales in South Korea was up a seasonally adjusted 0.2 percent on month in December, Statistics Korea said on Friday.
That followed the 1.0 percent contraction in November.
On a yearly basis, retail sales dropped 2.0 percent after sinking 1.5 percent in the previous month.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2171065/
South Korea Industrial Production Jumps 3.7% In December
Industrial output in South Korea was up a seasonally adjusted 3.7 percent on month in December, Statistics Korea said on Friday.
That beat forecasts for an increase of 1.2 percent following the 0.3 percent gain in November.
On a yearly basis, industrial production jumped 3.4 percent - again exceeding expectations for a gain of 0.9 percent following the 0.5 percent increase in the previous month.
Manufacturing production rose 3.4 percent on year after rising 0.7 percent a month earlier - while construction output sank an annual 2.5 percent after falling 0.8 percent in November.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2171064/
*South Korea Retail Sales +0.2% On Month In December
South Korea Retail Sales +0.2% On Month In December
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2171063/
*South Korea Industrial Production +3.7% On Month, +3.4% On Year In December
South Korea Industrial Production +3.7% On Month, +3.4% On Year In December
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2171062/
Japan Data On Tap For Friday
Japan is scheduled to release a batch of data on Friday, headlining a busy day in Asia-Pacific economic activity. On tap are December figures for unemployment, industrial production, housing starts and construction orders, as well as January figures for consumer confidence and for Tokyo inflation.
The jobless rate is tipped to rise to 3.0 percent from 2.9 percent in November, while the job-to-applicant ratio is called steady at 1.06. Industrial production in November was down 0.5 percent on month and 3.9 percent on year, while housing starts sank 3.7 percent on year and construction orders dropped an annual 4.7 percent.
The consumer confidence index had a score of 31.8 in December, while Tokyo overall inflation fell 1.3 percent on year and core CPI lost an annual 0.9 percent.
Australia will see Q4 figures for producer prices and December numbers for private sector credit. In Q3, producer prices were up 0.4 percent on quarter and down 0.4 percent on year. In November, Private sector credit rose 0.1 percent on month and 1.7 percent on year.
The Philippines will release December data for producer prices; in November, prices were down 3.4 percent on year.
South Korea will provide December data for industrial production and retail sales. In November, industrial production was up 0.3 percent on month and 0.5 percent on year, while retail sales fell 1.0 percent on month and 1.5 percent on year.
Singapore will see December numbers for bank lending, producer prices and import and export prices, as well as Q4 results for its business confidence index.
In November, bank lending was at SGD676.7 billion, while producer prices fell 9.4 percent on year, import prices gained 5.8 percent on year and export prices sank an annual 6.6 percent. The business confidence index score was -3.
Taiwan will release an advance estimate for Q4 gross domestic product, with forecasts suggesting an increase of 3.61 percent - down from 3.92 percent in Q3.
Hong Kong will provide an advance estimate for Q4 gross domestic product; in Q4, GDP was up 2.8 percent on quarter and down 3.5 percent on year.
Thailand will see November numbers for retail sales and December figures for unemployment, current account and its coincident index. In October, retail sales tumbled 6.8 percent on year. In November, the jobless rate was 2.0 percent, the current account deficit was $1.5 billion and the coincident index score was 126.1.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2171061/
S&P 500 May Lead Hang Seng, ASX 200 Higher Amid Reddit Stock Frenzy
The S&P 500, Dow Jones and Nasdaq 100 indices rebounded on Thursday as several brokerage platforms restricted buying in GameStop and AMC to cool retail speculation. Asia-Pacific equities may follow... Via DailyFX - Market News https://ift.tt/32vveVH
Dollar Retreats After Early Gains
After exhibiting strength early on in the session thanks to fairly strong economic data, the U.S. dollar retreated and pared gains on Thursday as a rally in stock market dimmed the currency's appeal a bit.
Data from the Labor Department showed initial jobless claims fell to 847,000 in the week ended January 23rd, a decrease of 67,000 from the previous week's revised level of 914,000.
Economists had expected jobless claims to drop to 875,000 from the 900,000 originally reported for the previous week.
A report from the Commerce Department said real gross domestic product jumped by 4% in the fourth quarter after skyrocketing by 33.4% in the third quarter.
Despite the rebound in the second half of the year, GDP for 2020 contracted by 3.5% following the 2.2% growth seen in 2019.
A separate report from the Commerce Department showed new home sales in the U.S. rebounded in the month of December after falling for four consecutive months.
The dollar index, which was up around 90.80 earlier in the day, dropped to 90.41 later on and was last seen at 90.52, down 0.14% from previous close.
Against the Euro, the dollar was down slightly at 1.2120, easing from around 1.2090 a unit of the European currency. Survey results from the European Commission showed Eurozone economic sentiment weakened in January driven by sliding confidence in retail trade and services as Covid-19 containment measures remain in place.
The economic sentiment index fell less-than-expected to 91.5 from 92.4 in the previous month. The expected level was 89.5. The industrial confidence index rose unexpectedly to -5.9 from -6.8 a month ago. The reading was seen falling to -7.2.
The Pound Sterling was stronger, fetching $1.3728 a unit, nearly 0.3% more than Wednesday's close.
The Yen weakened to 104.47 a dollar before regaining some lost ground. At 104.25, the Japanese currency was down 0.15% a little while ago.
Against the Aussie, the dollar was weaker by about 0.25% with the pair trading at 0.7683. The Loonie was up marginally at C$1.2810 a dollar.
The Swiss franc was little changed at 0.8886. Data from the Federal Customs Administration showed Switzerland's exports declined 6.4% month-on-month in December, after a 5.6% growth in November. Imports declined 6.7% monthly in December, after a 4.7% rise in the previous month.
On Wednesday, the Federal Reserve offered a downbeat assessment of the economy, saying that the virus crisis continues to weigh on economic activity, employment, and inflation, and poses considerable risks to the economic outlook.
The economy was still a long way from a complete recovery, Powell said, adding that it is too early to talk about tapering the Fed's asset purchase program.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2171060/
AUD/JPY, AUD/NZD Turn Higher on Wall Street Optimism
US equity markets bounced back on Thursday after a sharp selloff the day prior. Asia-Pacific trading is set to extend higher, with the Australian Dollar benefiting, but potential headwinds may be o... Via DailyFX - Market News https://ift.tt/32vveVH
Crude Oil Futures Settle Lower On Demand Concerns
Crude oil futures settled lower on Thursday as worries about outlook for energy demand outweighed recent data showing a substantial drop in crude inventories in the U.S. last week.
Rising coronavirus cases, tighter lockdown restrictions and worries over delay in vaccine supplies raised concerns about energy demand and dragged down oil prices.
West Texas Intermediate Crude oil futures for March ended lower by $0.51 or about 1% at $52.34 a barrel, coming off the session's high of $53.58.
Brent crude futures were lower by about $0.42 or 0.7% at $55.11 a barrel a little while ago.
In economic news today, data from the Labor Department showed initial jobless claims fell to 847,000 in the week ended January 23rd, a decrease of 67,000 from the previous week's revised level of 914,000.
Economists had expected jobless claims to drop to 875,000 from the 900,000 originally reported for the previous week.
A report from the Commerce Department said real gross domestic product jumped by 4% in the fourth quarter after skyrocketing by 33.4% in the third quarter.
Despite the rebound in the second half of the year, GDP for 2020 contracted by 3.5% following the 2.2% growth seen in 2019.
A separate report from the Commerce Department showed new home sales in the U.S. rebounded in the month of December after falling for four consecutive months.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2171059/
Treasuries Give Back Ground Following Upbeat Economic Data
Treasuries moved to the downside during trading on Thursday, giving back ground after trending higher over the past few sessions.
Bond prices moved steadily lower as the day progressed before closing firmly in negative territory. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, rose by 4.3 basis points to 1.057 percent.
The pullback by treasuries was partly due to a rebound by stocks on Wall Street, which moved sharply higher following the sell-off seen on Wednesday.
A batch of upbeat U.S. economic data also reduced the appeal of safe havens like bonds, with a report from the Labor Department showing a bigger than expected decline in first-time claims for U.S. unemployment benefits in the week ended January 23rd.
The Labor Department said initial jobless claims fell to 847,000, a decrease of 67,000 from the previous week's revised level of 914,000.
Economists had expected jobless claims to drop to 875,000 from the 900,000 originally reported for the previous week.
Jobless claims declined for the second consecutive week after reaching a more than four-month high of 927,000 in the week ended January 9th.
The Commerce Department also released a report showing economic growth matched economist estimates in the fourth quarter of 2020.
The report said real gross domestic product jumped by 4.0 percent in the fourth quarter after skyrocketing by 33.4 percent in the third quarter.
Despite the rebound in the second half of the year, GDP for 2020 contracted by 3.5 percent following the 2.2 percent growth seen in 2019.
A separate report from the Commerce Department showed new home sales in the U.S. rebounded in the month of December after falling for four consecutive months.
Bond prices hit their lows of the session after the Treasury Department revealed this month's auction of $62 billion worth of seven-year notes attracted below average demand.
The seven-year note auction drew a high yield of 0.754 percent and a bid-to-cover ratio of 2.30, while the ten previous seven-year note auctions had an average bid-to-cover ratio of 2.46.
The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.
Trading on Friday may be impacted by reaction to another batch of U.S. economic data, including reports on personal income and spending, consumer sentiment and pending home sales.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2171058/
Gold Futures Fail To Hold Early Gains, Extends Losses To 6th Straight Day
Gold prices drifted lower on Thursday, losing for a sixth straight session, as riskier assets such as equities rebounded after suffering a severe setback in the previous session.
The dollar's retreat after early strength helped limit the bullion's downside. The dollar index, which advanced to 90.86 in the European session, fell below the flat line subsequently, and was last seen at 90.44, down 0.25% from previous close.
Gold futures for April ended down $7.70 or about 0.4% at $1,841.20 an ounce, after hitting a high of $1,862.90 earlier in the day.
Silver futures for March ended higher by $0.533 at $25.922 an ounce, while Copper futures for March settled at $3.5780 per pound, gaining $0.0205.
Gold gained in strength earlier in the day, as the Federal Reserve left its benchmark interest rate unchanged, as widely expected, on Wednesday. The central bank also pledged to keep buying Treasury and mortgage bonds to restrain longer-term borrowing rates and support the economy.
The Fed reiterated that it would keep its low interest rate policies in place even well after the economy has sustained a recovery from the viral pandemic.
Warning about the risks to the economic outlook, Fed officials removed a phrase from their previous statement that had said the risks were "over the medium term."
In economic news today, data from the Labor Department showed initial jobless claims fell to 847,000 in the week ended January 23rd, a decrease of 67,000 from the previous week's revised level of 914,000.
Economists had expected jobless claims to drop to 875,000 from the 900,000 originally reported for the previous week.
A report from the Commerce Department said real gross domestic product jumped by 4% in the fourth quarter after skyrocketing by 33.4% in the third quarter.
Despite the rebound in the second half of the year, GDP for 2020 contracted by 3.5% following the 2.2% growth seen in 2019.
A separate report from the Commerce Department showed new home sales in the U.S. rebounded in the month of December after falling for four consecutive months.
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source http://www.mt5.com/forex_news/quickview/2171057/
Thursday, 28 January 2021
British Pound (GBP) Latest: GBP/USD Under Downside Pressure, Support Tested
GBP/USD is again testing support at a trendline that marks the lower boundary of a rising channel in place since January 11. If it breaks through, the near-term outlook will turn bearish. Via DailyFX - Market News https://ift.tt/32vveVH
How to Manage the Emotions of Trading
Controlling emotions while trading can prove to be the difference between success and failure. Via DailyFX - Market News https://ift.tt/32vveVH
European Economics Preview: Eurozone Economic Confidence Data Due
Economic confidence from euro area and flash consumer prices from Germany are due on Thursday, headlining a busy day for the European economic news.
At 2.00 am ET, Swiss foreign trade data for December is due. The trade surplus totaled CHF4.45 billion in November.
In the meantime, Statistics Norway releases retail sales and unemployment data. The jobless rate is seen unchanged at 5.2 percent in three months to November.
At 3.00 am ET, the National Institute of Economic Research is slated to issue Swedish economic tendency survey results.
Also, Spain's unemployment data for the fourth quarter is due. The jobless rate is expected to rise to 16.6 percent in the fourth quarter from 16.26 percent in the third quarter.
Half an hour later, Statistics Sweden is scheduled to publish retail sales and unemployment figures for December. Economists expect the jobless rate to climb to 8.4 percent from 7.7 percent in November.
At 4.00 am ET, Italy's Istat publishes business and consumer confidence survey results.
At 5.00 am ET, the European Commission is slated to issue euro area economic sentiment survey results. The economic confidence index is forecast to fall to 89.5 in January from 90.4 in December.
At 8.00 am ET, Destatis releases Germany's flash consumer price data for January. Economists forecast consumer prices to rise 0.7 percent annually, reversing a 0.3 percent drop in December.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170975/
*Philippine 2020 GDP Down 9.5%
Philippine 2020 GDP Down 9.5%
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source http://www.mt5.com/forex_news/quickview/2170974/
*Philippine Q4 GDP Falls 8.3% Annually Vs. -11.4% In Q3, Consensus -8.5%
Philippine Q4 GDP Falls 8.3% Annually Vs. -11.4% In Q3, Consensus -8.5%
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source http://www.mt5.com/forex_news/quickview/2170973/
Crude Oil, Gold Prices at the Mercy of Risk Trends Ahead of US GDP Data
Crude oil and gold prices are at the mercy of risk trends following the worst day on Wall Street in about 3 months. Will fourth-quarter US GDP data bring back calm into the markets? Via DailyFX - Market News https://ift.tt/32vveVH
IBEX 35 Forecast: Coronavirus, IMF Outlook Paint Bleak Picture for Spain
Spanish equities continued their sluggish start to 2021, as Covid fears and slow vaccination rollouts preempted a broader sell-off of risk assets across continental Europe. Via DailyFX - Market News https://ift.tt/32vveVH
Natural Gas Rallies on Colder Temperature Outlook, EIA Report in Focus
Natural gas prices rallied on a colder US temperature outlook, with prices breaching above a key technical level. The EIA weekly storage report may decide where prices go next. Via DailyFX - Market News https://ift.tt/32vveVH
Australia Export Prices Spike 5.5% On Quarter In Q4
Export prices in Australia were up 5.5 percent on quarter in the fourth quarter of 2020, the Australian Bureau of Statistics said on Thursday - beating forecasts for a decline of 1.3 percent following the 5.1 percent drop in Q3.
Import prices sank 1.0 percent on quarter versus expectations for a fall of 2.4 percent after sinking 3.5 percent in the three months prior.
On a yearly basis, export prices were up 0.3 percent and import prices tumbled 7.3 percent.
The largest contributor to export prices was metalliferous ores and metal scrap (+11.5 percent), driven by the demand for iron ore from China.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170972/
*Australia Export Prices +5.5% On Quarter, Import Prices -1.0% On Quarter In Q4
Australia Export Prices +5.5% On Quarter, Import Prices -1.0% On Quarter In Q4
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170971/
Japan Retail Sales Slip 0.3% On Year In December
The value of retail sales in Japan was down 0.3 percent on year in December, the Ministry of Economy, Trade and Industry said on Thursday - coming in at 14.434 trillion yen.
That beat expectations for a decline of 0.4 percent following the downwardly revised 0.6 percent increase in November (originally 0.7 percent).
On a seasonally adjusted monthly basis, retail sales sank 0.8 percent after sliding a downwardly revised 2.1 percent in November (originally -2.0 percent).
For the fourth quarter of 2020, retail sales were up 2.0 percent on year and 0.2 percent on quarter at 39.431 trillion yen.
For all of 2020, retail sales were down 3.3 percent at 146.438 trillion yen.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170970/
*Japan Retail Sales -0.3% On Year In December
Japan Retail Sales -0.3% On Year In December
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170969/
New Zealand Trade Surplus NZ$17 Million
New Zealand posted a merchandise trade surplus of NZ$17 million in December, Statistics New Zealand said on Thursday - following the NZ$252 million surplus in November.
Exports fell NZ$149 million or 2.7 percent on year to NZ$5.35 billion.
New Zealand's biggest goods export, dairy products, fell NZ$377 million (19 percent) in December.
"Dairy export values and volumes both fell in December, compared with the same month a year before," international trade manager Alasdair Allen said.
Leading the total falls in December were milk powder, down NZ$227 million, butter, down NZ$62 million, and milk fats, down NZ$51 million on the same month in 2019.
"The drop in dairy exports was mainly due to a fall in sales to New Zealand's biggest export market, China," Allen said.
Total dairy exports to China fell NZ$194 million (21 percent) to NZ$740 million in December. This was led by falls in milk powder, down NZ$113 million.
Imports rose NZ$213 million or 4.2 percent on year to NZ$5.33 billion.
Car imports were up NZ$106 million in December 2020 compared with December 2019.
Imports of electrical and machinery products were up NZ$90 million, and iron and steel up NZ$41 million in December.
"Monthly car imports fell sharply early in 2020 when Covid-19 first hit, but values have bounced back to more typical levels," Allen said.
For the fourth quarter of 2020, exports were up 0.4 percent on quarter to NZ$15 billion and imports were up 4.7 percent on quarter to NZ$14 billion for a trade surplus of NZ$412 million.
For all of 2020, exports added 0.04 percent on year to NZ$60 billion and imports fell 11 percent on year to NZ$57 billion for a surplus of NZ$2.9 billion.
Imports of petroleum and products fell NZ$2.4 billion in 2020, following Covid-19 travel restrictions.
Imports of vehicle, parts, and accessories also fell, by NZ$2.1 billion. With little international travel, demand for turbojets and turbo-propellers fell, with imports of mechanical machinery and equipment down NZ$1.1 billion.
Exports of breathing equipment (respiratory equipment) were up NZ$526 million, due to high demand during the Covid-19 pandemic. Fruit exports rose NZ$525 million, driven by higher volumes and prices for kiwifruit.
Aircraft and parts rose NZ$435 million, as planes were sent to the United States for storage, during the slump in international travel. Preparations of cereals, flour, and starch, were up NZ$204 million, driven by infant formula.
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source http://www.mt5.com/forex_news/quickview/2170968/
New Zealand Has NZ$17 Million Trade Surplus
New Zealand had a merchandise trade surplus of NZ$17 million in December, Statistics New Zealand said on Thursday - following the NZ$252 million surplus in November.
Exports fell NZ$149 million or 2.7 percent on year to NZ$5.35 billion, while imports rose NZ$213 million or 4.2 percent on year to NZ$5.33 billion.
For the fourth quarter of 2020, exports were up 0.4 percent on quarter to NZ$15 billion and imports were up 4.7 percent on quarter to NZ$14 billion for a trade surplus of NZ$412 million.
For all of 2020, exports added 0.04 percent on year to NZ$60 billion and imports fell 11 percent on year to NZ$57 billion for a surplus of NZ$2.9 billion.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170967/
Japan Retail Sales Data Due On Thursday
Japan will on Thursday release December numbers for retail sales, highlighting a modest day for Asia-Pacific economic activity. Sales are expected to sink 0.4 percent on year after rising 0.7 percent in November.
Australia will see Q4 data for import and export prices. Import prices are tipped to fall 2.4 percent on quarter after sinking 3.5 percent in Q3. Export prices are expected to slip 1.3 percent on quarter after dropping 5.1 percent in the three months prior.
The Philippines will provide Q4 data for gross domestic product; in Q3, GDP was up 8.0 percent on quarter and down 11.5 percent on year.
New Zealand will see December figures for imports, exports and trade balance. In November, imports were worth NZ$4.95 billion and exports were at NZ$5.2 billion for a trade surplus of NZ$252 million.
Singapore will release preliminary Q4 numbers for unemployment; in Q3, the jobless rate was 3.6 percent.
Finally, the markets in Malaysia are closed on Thursday in observance of Thaipusam and will re-open on Friday.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170966/
*New Zealand Exports NZ$5.35 Billion, Imports NZ$5.33 Billion In December
New Zealand Exports NZ$5.35 Billion, Imports NZ$5.33 Billion In December
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170965/
*New Zealand Trade Surplus NZ$17 Million In December
New Zealand Trade Surplus NZ$17 Million In December
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source http://www.mt5.com/forex_news/quickview/2170964/
S&P 500 Leads Nikkei 225, ASX 200 Lower as Volatility Spikes
All three major US indices tumbled on Wednesday as short squeezes in GameStop and AMC Entertainment appeared to have triggered broad selling on Wall Street. Apple and Facebook earnings beat expecta... Via DailyFX - Market News https://ift.tt/32vveVH
NZD/USD, AUD/USD, USD/CAD Waver to FOMC-Induced Greenback Rally
US Dollar strength continued after the Federal Reserve interest rate decision, sinking risk-sensitive currencies like the New Zealand Dollar as traders reassessed market conditions. Via DailyFX - Market News https://ift.tt/32vveVH
U.S. Dollar Moves To The Upside Amid Sell-Off On Wall Street
After moving to the downside on Tuesday, the value of the U.S. dollar has shown a notable rebound during trading on Wednesday.
The U.S. dollar index has given back some ground after reaching an intraday high of 90.88 but is currently up 0.5 percent at 90.61.
Currently, the dollar is trading at 104.11 yen compared to the 103.62 yen it fetched at the close of New York trading on Tuesday. Against the euro, the dollar is trading at $1.2114 compared to yesterday's $1.2160.
The greenback has benefited from its appeal as a safe haven amid the sell-off seen by stocks on Wall Street.
Concerns about the impact of new, more contagious coronavirus strains weighed on stocks along with uncertainty about the prospects for more stimulus under President Joe Biden.
Worries about recent speculative trading by retail investors also weighed on Wall Street amid continued spikes by heavily shorted stocks.
In U.S. economic news, a report released by the Commerce Department showed new orders for manufactured durable goods rose by much less than expected in the month of December.
The Commerce Department said durable goods orders edged up by 0.2 percent in December after surging by an upwardly revised 1.2 percent in November.
Economists had expected durable goods orders to increase by 0.9 percent compared to the 1.0 percent jump that had been reported for the previous month.
Excluding a pullback in orders for transportation equipment, durable goods orders climbed by 0.7 percent in December after advancing by 0.8 percent in November. Ex-transportation orders were expected to rise by 0.5 percent.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170963/
Crude Oil Futures Settle Higher As Inventories Drop
Crude oil futures settled higher on Wednesday after official data showed a substantial drop in U.S. crude stockpiles in the week ended January 22.
Despite the sharp drop in inventories, persisting worries about the surge in coronavirus cases and tighter restrictions on movements in several parts across the world continue to cause uncertainty about near term energy demand.
West Texas Intermediate Crude oil futures for March ended up $0.24 or about 0.5% at $52.85 a barrel.
Brent crude futures were up $0.34 at $56.25 a barrel.
According to the data released by the Energy Information Administration (EIA) this morning, crude inventories in the U.S. fell by 9.9 million barrels last week, dropping to 476.7 million barrels. The numbers beat analysts' expectations for a build of 430,000 barrels.
Distillate stockpiles were down 815,000 barrels in the week against expectations for a draw of 361,000 barrels, while gasoline inventories rose 2.47 million barrels.
The data also said that stockpiles in Cushing, the U.S. storage hub, declined by 2.3 million barrels last week.
The American Petroleum Institute (API) reported on Tuesday a draw in crude oil inventories of 5.3 million barrels in the week to January 22. Analysts had predicted an inventory smaller draw of 430,000 barrels for the week. Gasoline stocks rose by 3.1 million barrels, which was much more than expected.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170962/
US Dollar Outlook: EUR/USD Under Pressure as Volatility Ramps
EUR/USD price action edged notably lower on Wednesday amid broad-based US Dollar strength as volatility spiked and Fed Chair Powell cautioned markets about a slowing economic recovery. Via DailyFX - Market News https://ift.tt/32vveVH
Treasuries Move Higher Amid Sell-Off On Wall Street
After ending the previous session nearly unchanged, treasuries showed a moderate move to the upside during trading on Wednesday.
Bond prices moved higher early in the session and remained positive throughout the day. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, fell by 2.6 basis points to 1.014 percent.
The strength among treasuries came as stocks on Wall Street moved sharply lower amid concerns about the impact of new, more contagious coronavirus strains along with uncertainty about the prospects for a new relief package.
Traders were also worried about recent speculative trading by retail investors amid continued spikes by heavily shorted stocks like GameStop (GME) and AMC Entertainment (AMC).
The sell-off on Wall Street increased the appeal of safe havens such as bonds, although buying interest was somewhat subdued ahead of the Federal Reserve's monetary policy announcement.
Treasuries remained positive following the announcement, with the Fed leaving interest rates unchanged as widely expected and revealing it plans to maintain its asset purchase program at the current pace.
The Fed said it decided to keep the target range for the federal funds rate at zero to 0.25 percent and once again said it expects to leave rates at near-zero levels until labor market conditions reach levels consistent with maximum employment and inflation is on track to moderately exceed 2 percent.
The more closely watched section of the Fed's accompanying statement revealed that the central bank plans to continue purchasing bonds at a rate of at least $120 billion per month.
The statement reiterated the assertion first made last month, when the Fed said it will maintain asset purchases at the current rate until "substantial further progress" has been made toward its goals of maximum employment and price stability.
"We don't expect the Fed to begin tapering its asset purchases until early next year and think the first rate hike could be delayed until 2024," said Paul Ashworth, Chief U.S. Economist at Capital Economics.
In one of the few changes to the statement, the Fed said pace of the economic recovery has moderated in recent months, with weakness concentrated in the sectors most adversely affected by the ongoing coronavirus pandemic.
Looking ahead, trading on Thursday may be impacted by reaction to reports on initial jobless claims, new home sales and leading economic indicators.
Bond traders are also likely to keep an eye on the results of the Treasury Department's auction of $62 billion worth of seven-year notes.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170961/
Wednesday, 27 January 2021
*Japan Nov Coincident Index 89.0 Vs. 89.4 In October
Japan Nov Coincident Index 89.0 Vs. 89.4 In October
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170901/
*Japan Nov Leading Index 96.4 Vs. 94.3 In October
Japan Nov Leading Index 96.4 Vs. 94.3 In October
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source http://www.mt5.com/forex_news/quickview/2170900/
US Dollar Outlook: DXY Forms Head and Shoulders Pattern Ahead of FOMC
The US Dollar Index (DXY) is at risk of extending its recent slide lower as prices carve out a bearish Head and Shoulders pattern ahead of the FOMC interest rate decision. Via DailyFX - Market News https://ift.tt/32vveVH
*Philippines Dec Exports -9.1% On Year Vs. -18.3% In November
Philippines Dec Exports -9.1% On Year Vs. -18.3% In November
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170899/
*China Dec Industrial Profits Rise 20.1% On Year
China Dec Industrial Profits Rise 20.1% On Year
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source http://www.mt5.com/forex_news/quickview/2170898/
*UK Jan BRC Shop Price Index Down 2.2% On Year
UK Jan BRC Shop Price Index Down 2.2% On Year
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170897/
*Australia Dec NAB Business Confidence 4 Vs. 13 In November
Australia Dec NAB Business Confidence 4 Vs. 13 In November
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source http://www.mt5.com/forex_news/quickview/2170896/
*Australia Dec NAB Business Conditions Rises To 14, Highest Since 2018
Australia Dec NAB Business Conditions Rises To 14, Highest Since 2018
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source http://www.mt5.com/forex_news/quickview/2170895/
Gold, Crude Oil Outlook: Will FOMC Meeting Catalyze Price Volatility?
Gold prices traded lower while crude oil prices edged higher ahead of the January FOMC meeting, where investors are looking for the Fed’s take on recent economic developments and future monetary po... Via DailyFX - Market News https://ift.tt/32vveVH
US Dollar Forecast: Stuck Between Treasuries, Equities as Emerging Markets Push On
Will the US Dollar fall versus the Singapore Dollar, Taiwanese Dollar and Philippine Peso if a fiscal stimulus delay pressures Treasury yields? The Fed and earnings may keep risk appetite intact. Via DailyFX - Market News https://ift.tt/32vveVH
Copper Forecast: US Stimulus and Chinese Recovery Key Price Drivers
Copper prices are easing this week after a major producer downgraded its sales volume forecast. Price action is likely dependent on Chinese demand and US Stimulus in coming weeks. Via DailyFX - Market News https://ift.tt/32vveVH
Australia Inflation Climbs To 0.9% On Year In Q4
Consumer prices in Australia were up 0.9 percent on year in the fourth quarter of 2020, the Australian Bureau of Statistics said on Wednesday - exceeding expectations for 0.7 percent, which would have been unchanged from Q3.
On a quarterly basis, inflation also gained 0.9 percent - beating forecasts for 0.7 percent and down from 1.6 percent in the three months prior.
The Reserve Bank of Australia's trimmed mean was up 0.4 percent on quarter and 1.2 percent on year - both matching forecasts and unchanged.
The weighted median rose 0.5 percent on quarter and 1.4 percent on year after rising 0.3 percent on quarter and 1.3 percent on year in the previous three months.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170894/
*Australia Weighted Median CPI +0.5% On Quarter, +1.4% On Year In Q4
Australia Weighted Median CPI +0.5% On Quarter, +1.4% On Year In Q4
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170893/
*Australia Inflation +0.9% On Quarter, +0.9% On Year In Q4
Australia Inflation +0.9% On Quarter, +0.9% On Year In Q4
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170891/
*Australia Trimmed Mean CPI +0.4% On Quarter, +1.2% On Year In Q4
Australia Trimmed Mean CPI +0.4% On Quarter, +1.2% On Year In Q4
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170892/
Nasdaq Poised to Rise with Hang Seng, ASX 200. Apple Earnings in Focus
Nasdaq 100 index futures are climbing afterhours as traders await earnings from Apple and Facebook. Asia-Pacific stocks look set to rebound from Tuesday’s losses. The US Dollar retreated. Via DailyFX - Market News https://ift.tt/32vveVH
Australia Inflation Data Due On Wednesday
Australia will on Wednesday release Q4 figures for consumer prices, highlighting a modest day for Asia-Pacific economic activity.
Inflation is tipped to rise 0.7 percent both on quarter and on year; in Q3, consumer prices rose 1.6 percent on quarter and 0.7 percent on year. The Reserve Bank of Australia's trimmed mean is called steady at 0.4 percent on quarter and 1.2 percent on year, while the weighted median is also tipped to rise 0.4 percent on quarter and 1.2 percent on year.
Australia also will see December results for the leading economic index from Westpac; in November, the index gained 0.5 percent on month.
The Philippines will provide December numbers for imports, exports and trade balance. In November, imports were down 18.9 percent on year and exports rose an annual 3.0 percent for a trade deficit of $1.73 billion.
Japan will see final November numbers for its leading and coincident indexes. The leading index is expected to see a score of 96.6, up from 94.3 in October. The coincident is pegged at 89.1, down from 89.4 in the previous month.
China will release December figures for industrial profits; in November, profits were up 2.4 percent on year.
Thailand will provide December data for industrial production; in November, production was up 0.35 percent on year.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170890/
Dollar Weakens Against Other Major Currencies
The U.S. dollar retreated after early gains on Tuesday, as traders continued to closely track the progress on the stimulus front, reacted to geopolitical and the latest batch of economic data from across the world.
A report from the Conference Board showed an unexpected improvement in U.S. consumer confidence in the month of January. The Conference Board said its consumer confidence index climbed to 89.3 in January from a downwardly revised 87.1 in December.
Economists had expected the index to edge down to 88.5 from the 88.6 originally reported for the previous month. The unexpected rebound by the headline index came as the expectations index jumped to 92.5 in January from 87.0 in December.
On the stimulus front, U.S. President Joe Biden said he's open to negotiations on his $1.9 trillion Covid-19 relief proposal, but didn't rule out pursuing a Democrat-only route for passage.
U.S. Senate Majority Leader Chuck Schumer said earlier Monday an aid package was unlikely before mid-March, just when jobless benefits from the last package will be running out.
A number of GOP Senators have expressed skepticism about the need for additional stimulus after recently approving a $900 billion relief package.
The dollar index, which rose to 90.61 in the Asian session, touched a low of 90.12 in late morning trades before edging up to 90.16, still down by over 0.25%.
Against the Euro, the dollar weakened to $1.2166, down 0.2% from previous close of $1.2143.
The Pound Sterling was stronger, fetching $1.3739 a unit, nearly 0.5% up from Monday's $1.3676. The U.K. unemployment rate increased and the employment rate continued to decline in three months to November, labor force survey results from the Office for National Statistics showed.
The jobless rate rose 0.6 percentage points from the previous quarter to 5% in three months to November. The expected rate was 5.1%. At the same time, the employment rate dropped 0.4 percentage points sequentially to 75.2%. Employment decreased by 88,000 on the quarter.
The Yen firmed up to 103.61 a dollar, advancing from 103.77 a dollar. Minutes of the Bank of Japan's December meeting showed some discussions on the topic of exchange rates and further policy easing in light of the economic stresses caused by the pandemic.
Against the Aussie, the dollar weakened to 0.7747, drifting down from 0.7713.
The Swiss franc firmed up to CHF 0.8865 a dollar from CHF 0.8885, while the Loonie strengthened to 1.2694 a dollar from 1.2740.
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source http://www.mt5.com/forex_news/quickview/2170889/
AUD/USD May Rise if Australian Inflation Data Impresses, FOMC in Focus
Wall Street took a step back on concerns over future fiscal relief, led by small-cap stocks. Meanwhile, the Australian Dollar is rising ahead of Q4 inflation data Via DailyFX - Market News https://ift.tt/32vveVH
US Dollar Outlook: AUD/USD Eyes Federal Reserve Announcement
AUD/USD price action extended higher on Tuesday as the US Dollar weakened broadly and erased prior session gains with traders shifting focus to the Fed rate decision on deck for release. Via DailyFX - Market News https://ift.tt/32vveVH
Treasuries Close Nearly Unchanged Ahead Of Fed Announcement
After moving notably higher over the course of the two previous sessions, treasuries showed a lack of direction during trading on Tuesday.
Bond prices spent the day bouncing back and forth across the unchanged line before closing nearly flat. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, ended the day unchanged at 1.040 percent.
The choppy trading on the day came as traders looked ahead to the Federal Reserve's monetary policy announcement on Wednesday.
The Fed is widely expected to leave interest rates unchanged, but many expect the central bank to provide additional guidance about its bond purchasing program.
Uncertainty about more fiscal stimulus under President Joe Biden also kept traders on the sidelines amid recent reports pointing to intensifying opposition from GOP lawmakers.
The Biden administration has signaled a willingness to negotiate over the president's $1.9 trillion proposal, but it is worth noting that talks over the previous relief package dragged on for months.
Meanwhile, traders largely shrugged off a report from the Conference Board showing an unexpected improvement in U.S. consumer sentiment in the month of January.
The Conference Board said its consumer confidence index climbed to 89.3 in January from a downwardly revised 87.1 in December.
The increase surprised economists, who had expected the index to edge down to 88.5 from the 88.6 originally reported for the previous month.
Traders also did not pay much attention to the results of the Treasury Department's auction of $61 billion worth of five-year notes, which attracted below average demand.
The five-year note auction drew a high yield of 0.424 percent and a bid-to-cover ratio of 2.34, while the ten previous five-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.
The Fed announcement is likely to be in the spotlight on Wednesday, overshadowing a report on durable goods orders in the month of December.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170888/
Crude Oil Futures Settle Lower Ahead Of Inventory Data
Despite edging up early on in the session, crude oil futures settled lower on Tuesday, as traders looked ahead to weekly inventory data, and appeared a bit hesitant to create significant long positions due to uncertain outlook for energy demand.
The American Petroleum Institute's weekly oil report is due later today, while the Energy Information Administration (EIA) is scheduled to release its inventory data for the week ended January 22 on Wednesday morning.
Oil's decline was somewhat limited as prices found some support on news about a blast in Saudi Arabia.
West Texas Intermediate Crude oil futures for March ended lower by $0.16 or about 0.3% at $52.61 a barrel.
Brent crude futures were lower by about $0.10 or 0.2% at $55.78 a barrel.
A survey by S&P Global Platts indicates crude inventories in the U.S. may have dropped by 1.7 million barrels last week. Gasoline inventories are forecast to rise by 1.2 million barrels while distillate stockpiles may have dropped down by about 800,000 barrels.
On the stimulus front, U.S. President Joe Biden said he's open to negotiations on his $1.9 trillion Covid-19 relief proposal, but didn't rule out pursuing a Democrat-only route for passage.
U.S. Senate Majority Leader Chuck Schumer said earlier Monday an aid package was unlikely before mid-March, just when jobless benefits from the last package will be running out.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170887/
Gold Futures Settle Lower For 4th Straight Day
Gold futures ended weak on Tuesday, extending losses to a fourth straight session, as traders awaited the Federal Reserve's upcoming monetary policy announcement.
A weak dollar limited the yellow metal's slide. The four-session losing streak is the longest for gold futures since April 2020.
The dollar index, which rose to 90.61 in the Asian session amid rising tensions between the U.S. and China, retreated soon and then kept sliding to hit a low of 90.12 in late morning trades, before edging up a bit to 90.19. It was still down by about 0.22% from previous close.
Gold futures for February ended down $4.30 or about 0.2% at $1,850.90 an ounce.
Silver futures for March closed higher by $0.054 or about 0.2% at $25.538 an ounce, while Copper futures for March settled at $3.6195 per pound, down $0.0100 or 0.3% from previous close.
On the stimulus front, U.S. President Joe Biden said he's open to negotiations on his $1.9 trillion Covid-19 relief proposal, but didn't rule out pursuing a Democrat-only route for passage.
U.S. Senate Majority Leader Chuck Schumer said earlier Monday an aid package was unlikely before mid-March, just when jobless benefits from the last package will be running out.
A number of GOP Senators have expressed skepticism about the need for additional stimulus after recently approving a $900 billion relief package.
A report from the Conference Board showed an unexpected improvement in U.S. consumer confidence in the month of January. The Conference Board said its consumer confidence index climbed to 89.3 in January from a downwardly revised 87.1 in December.
Economists had expected the index to edge down to 88.5 from the 88.6 originally reported for the previous month. The unexpected rebound by the headline index came as the expectations index jumped to 92.5 in January from 87.0 in December.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170886/
Tuesday, 26 January 2021
*UK 3-months To Nov Jobless Rate At 5%, Consensus 5.1%
UK 3-months To Nov Jobless Rate At 5%, Consensus 5.1%
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170835/
Pound Falls Ahead Of UK Unemployment Data
At 2.00 am ET Tuesday, the Office for National Statistics releases UK labor market data. The jobless rate is forecast to rise to 5.1 percent in three months to November from 4.9 percent in three months to October.
Ahead of the data, the pound dropped against its major rivals. The pound was worth 1.3640 against the greenback, 141.46 against the yen, 1.2123 against the franc and 0.8891 against the euro as of 1:55 am ET.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170834/
Singapore Industrial Production Growth Slows In December
Singapore's industrial production grew at a softer pace in December, data from the Economic Development Board showed on Tuesday.
Industrial output rose 14.3 percent year-on-year in December, after an 18.7 percent growth in November. Production was forecast to increase 11.5 percent.
Excluding biomedical manufacturing, industrial production grew 19.8 percent yearly in December, following a 14.0 percent increase in the preceding month.
On a monthly basis, industrial production rose 2.4 percent in December, slower than 7.5 percent gain in the previous month. Economists had expected a 0.6 percent fall.
Production of electronics surged 41.8 percent annually in December and that of chemical clusters rose by 12.3 percent. Precision engineering output gained 11.0 percent and general manufacturing increased 5.9 percent.
Meanwhile, biomedical manufacturing output declined 13.2 percent and transport engineering fell 31.5 percent.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170833/
Bitcoin (BTC) Continues to Struggle While Ethereum (ETH) Comes Off a Fresh All-Time High
Bitcoin (BTC/USD) continues to struggle to move higher and yesterday’s bearish candle may cap any further upside in the short-term. Via DailyFX - Market News https://ift.tt/32vveVH
Japan Services Producer Prices Fall For Third Month
Japan's services producer prices declined for the third straight month in December, data released by the Bank of Japan showed on Tuesday.
The services producer price index fell 0.4 percent year-on-year in December, following a 0.5 percent drop in November. This was the third straight consecutive month of decline.
On a monthly basis, services producer price inflation eased to 0.1 percent from 0.2 percent in the previous month.
Excluding international transportation, services producer prices gained 0.1 percent annually after rising 0.2 percent in November.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170832/
European Economics Preview: IMF World Economic Outlook Report Due
The World Economic Outlook from the International Monetary Fund and the labor market statistics from the UK are due on Tuesday, headlining a light day for the European economic news.
At 2.00 am ET, the Office for National Statistics releases UK labor market data. The jobless rate is forecast to rise to 5.1 percent in three months to November from 4.9 percent in three months to October.
At 3.00 am ET, December producer price data is due from Spain. Prices had dropped 2.8 percent on year in November.
Half an hour later, Statistics Sweden publishes producer prices for December. Economists forecast prices to fall 5.4 percent annually, following a 4.4 percent drop in November.
At 6.00 am ET, the Confederation of British Industry releases Distributive Trades survey results for January. The retail sales balance is seen at -28 percent versus -3 percent in December.
At 8.00 am ET, the International Monetary Fund publishes World Economic Outlook. In the meantime, Hungary's central bank announces its interest rate decision. The bank is expected to keep its key rate unchanged at 0.6 percent.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170831/
British Pound (GBP) Latest: GBP/USD Falling After UK Unemployment Data
GBP/USD is sliding in early European trade Tuesday despite the release of marginally better than expected UK jobs data, with a firmer US Dollar adding to its weakness. Via DailyFX - Market News https://ift.tt/32vveVH
*Singapore Dec Manufacturing Output +2.4% On Month Vs. +7.5% In Nov, Consensus -0.6%
Singapore Dec Manufacturing Output +2.4% On Month Vs. +7.5% In Nov, Consensus -0.6%
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170830/
*Singapore Dec Manufacturing Output +14.3% On Year Vs. +18.7% In Nov, Consensus +11.5%
Singapore Dec Manufacturing Output +14.3% On Year Vs. +18.7% In Nov, Consensus +11.5%
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170829/
US Dollar May Extend Rise as Stocks Fall After China Drains Liquidity
The anti-risk US Dollar rose while stocks swooned in Asia-Pacific trade as China pulled close to US$12 billion from the banking system. More of the same may be ahead. Via DailyFX - Market News https://ift.tt/32vveVH
US Dollar Forecast: Stuck Between Treasuries, Equities as Emerging Markets Push On
Will the US Dollar fall versus the Singapore Dollar, Taiwanese Dollar and Philippine Peso if a fiscal stimulus delay pressures Treasury yields? The Fed and earnings may keep risk appetite intact. Via DailyFX - Market News https://ift.tt/32vveVH
South Korea GDP Expands 1.1% On Quarter In Q4
South Korea's gross domestic product climbed a seasonally adjusted 1.1 percent on quarter in the fourth quarter of 2020, the Bank of Korea said in Tuesday's advance estimate.
That beat expectations for an increase of 0.7 percent following the 2.1 percent gain in the previous three months.
Real gross domestic income increased 0.7 percent on quarter.
On the expenditure side, private consumption contracted by 1.7 percent, as expenditures on services (restaurants and accommodation) and goods (food) both decreased. Government consumption fell 0.4 percent, with decreased expenditures on goods and health care benefits. Construction investment expanded 6.5 percent, as building construction and civil engineering increased.
Facilities investment fell 2.1 percent due to a decrease in transportation equipment despite an increase in machinery. Exports rose 5.2 percent as exports of goods such as semiconductors and chemical products expanded. Imports were up 2.1 percent, owing to increased imports of machinery and equipment.
On the production side, agriculture, forestry and fishing jumped 4.9 percent due to increased crop yields and fishery production. Manufacturing rose 2.8 percent due to increases in chemical products and computer, electronic and optical products. Electricity, gas and water supply added 5.9 percent due to an increase in electricity.
Construction expanded 2.6 percent, owing to increases in building construction and civil engineering. Services grew 0.4 percent, led by information and communication and human health and social work despite decreases in accommodation and food services and transportation and storage.
On a yearly basis, GDP sank 1.4 percent - exceeding forecasts for a drop of 1.7 percent following the 1.1 percent decline in the three months prior.
For all of 2020, GDP was down 1.0 percent.
On the expenditure side, while the growth of government consumption continued and facilities investment turned positive, private consumption and exports reversed to a decrease.
On the production side, while the decline in construction was alleviated, manufacturing and services turned negative.
Real GDI fell by 0.3 percent. As the terms of trade improved due to factors such as a decrease in the price of crude oil, real GDI exceeded real GDP.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170828/
South Korea GDP Climbs 1.1% On Quarter In Q4
South Korea's gross domestic product expanded a seasonally adjusted 1.1 percent on quarter in the fourth quarter of 2020, the Bank of Korea said in Tuesday's advance estimate.
That beat expectations for an increase of 0.7 percent following the 2.1 percent gain in the previous three months.
On a yearly basis, GDP sank 1.4 percent - exceeding forecasts for a drop of 1.7 percent following the 1.1 percent decline in the three months prior.
For all of 2020, GDP was down 1.0 percent.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170827/
*South Korea GDP +1.1% On Quarter, -1.4% On Year In Q4
South Korea GDP +1.1% On Quarter, -1.4% On Year In Q4
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170826/
Dow Jones, Hang Seng, Nikkei 225 Outlook: Will the Rally Carry on?
Wall Street stocks were mixed overnight as markets adjusted expectations for the US fiscal stimulus plan. A strengthening US Dollar may undermine Asia-Pacific equities following Monday’s strong rally. Via DailyFX - Market News https://ift.tt/32vveVH
South Korea GDP Data Due On Tuesday
South Korea will on Tuesday release an advance estimate for Q4 gross domestic product, highlighting a busy day for Asia-Pacific economic activity.
GDP is expected to gain 0.7 percent on quarter and sink 1.7 percent on year after climbing 2.1 percent on quarter and falling 1.1 percent on year in the previous three months.
The Bank of Japan will release the minutes from its monetary policy meeting on December 17 and 18. At the meeting, the bank's policy board extended the duration of emergency loan facility to September 2021.
The bank also removed upper limit of JPY 100 billion on funds against loans that financial institutions make on their own. The board voted 8-1 to retain the interest rate at -0.1 percent on current accounts that financial institutions maintain at the central bank.
New Zealand will see December results for credit card spending and for the services PMI from BusinessNZ. Card spending is expected to sink 8.9 percent on year after dropping an annual 5.6 percent in November. The services PMI score in November was 46.7.
Singapore will provide December data for industrial production; in November, industrial production was up 7.2 percent on month and 17.9 percent on year.
Hong Kong will release December numbers for imports, exports and trade balance. In November, imports were up 5.1 percent on year and exports rose an annual 5.6 percent for a trade deficit of HKD25.6 billion.
Finally, the markets in Australia are closed on Tuesday in observance of Australia Day and will reopen on Wednesday.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170825/
Dollar Rises Against Peers
The U.S. dollar firmed up against its peers on Monday on safe-haven appeal due to worries about growth due to surging coronavirus cases and tighter restrictions on movements into the U.S. from several European countries.
Disappointing economic data from Germany, and worries over vaccine supply delays also lifted dollar's safe-haven appeal.
Survey results from the ifo institute said German business confidence weakened in January. The business confidence index fell to 90.1 in January from revised 92.2 in the previous month. The score was forecast to drop moderately to 91.8.
Current assessment as well as expectations deteriorated in January. The current assessment index slid to 89.2, which was below the expected reading of 90.6. Likewise, the expectations index decreased to 91.1, which was also below the consensus forecast of 93.2.
With coronavirus cases looking on course to hit the 100 million mark worldwide, several countries are reimposing lockdown restrictions. The French government is likely to impose a third lockdown in the coming days to combat coronavirus in the country.
U.S. President Joe Biden is set to impose a ban on non-U.S. citizens from the U.K., Ireland and 26 other countries in Europe. Travelers from Brazil and South Africa will also be barred from entering the U.S. following detection of new virus variants in those countries.
Markets are also looking ahead to the Federal Reserve's monetary policy, due on Wednesday.
The dollar index, which rose to 90.52 a little before noon, gave up some gains as the session progressed, but was still holding in positive territory at 90.38, gaining 0.16% over previous close.
Against the Euro, the dollar was stronger by about 0.26% at $1.2143, despite easing from $1.2117.
The Pound Sterling was weaker, fetching $1.3669 a unit, less than $1.3685 on Friday evening.
The Yen was flat at 103.77 a dollar, after having weakened to 103.93 earlier in the day.
Against the Aussie, the dollar was little changed, with the AUD-USD pair at 0.7711.
The Swiss franc was down at CHF 0.8881, sliding from CHF 0.8856 a session earlier, while the Loonie was down nearly 0.1% at C$ 1.2745.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170824/
New Zealand Services PMI Improves To 49.2 In December - BusinessNZ
The services sector in New Zealand continued to contract in December, albeit at a slower pace, the latest survey from BusinessNZ showed on Tuesday with a Performance of Services Index score of 49.2.
That's up from 46.7 in November, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.
Among the individual components, sales, employment and new orders all expanded, while supplier deliveries and inventories were in contraction.
"Activity indicators such as these have had their work cut out lately, in trying to nail GDP to the nearest percent. In any case, the composite index is consistent with our view that NZ real GDP will be broadly flat over the six months to March 2021," BNZ Senior Economist Craig Ebert said.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170823/
*New Zealand Performance Of Service Index 49.2 In December - BusinessNZ
New Zealand Performance Of Service Index 49.2 In December - BusinessNZ
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170822/
Uncertainty About Stimulus Leads To Strength Among Treasuries
Following the uptick seen in the previous session, treasuries showed a more notable move to the upside during trading on Monday.
Bond prices moved higher in morning trading and saw continued strength in the afternoon. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, slid by 5.1 basis points to 1.040 percent.
The strength among treasuries came amid reports of intensifying Republican opposition to President Joe Biden's proposed $1.9 trillion stimulus package.
A number of GOP Senators have expressed skepticism about the need for additional stimulus after recently approving a $900 billion relief package.
Republicans have expressed support for some elements of Biden's proposal but have raised concerns about other initiatives as well as the price tag for the overall bill.
Treasuries saw some further upside following the release of the results of the Treasury Department's auction of $60 billion worth of two-year notes, which attracted above average demand.
The two-year note auction drew a high yield of 0.125 percent and a bid-to-cover ratio of 2.67, while the ten previous two-year note auctions had an average bid-to-cover ratio of 2.57.
The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.
Looking ahead, the Treasury is due to announce the results of its auction of $61 billion worth of five-year notes on Tuesday.
Trading on Tuesday may also be impacted by reaction to the Conference Board's report on consumer confidence in the month of January.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170821/
Bitcoin, Ethereum Outlook: ETH Poised to Outperform BTC in Near Term
The Bitcoin/Ethereum ratio’s break to its lowest levels since August 2018 suggests that ETH may continue to outperform BTC in the coming weeks. Key levels to watch for Bitcoin and Ethereum. Via DailyFX - Market News https://ift.tt/32vveVH
Oil Futures Close Higher
Crude oil futures settled higher on Monday amid expectations of a drop in crude supplies.
Reports saying oil exports have been halted at some Libyan ports following a dispute over wages, and Iran's reported plan to cut crude output supported oil prices.
Concerns about outlook for energy demand due to rising coronavirus cases and tighter lockdown measures in several places across the globe capped oil's upside.
West Texas Intermediate Crude oil futures for March ended up $0.50 or about 1% at $52.77 a barrel.
Brent crude oil futures were up $0.40 at $55.65 a barrel a little while ago.
Amid bitter political differences, lawmakers in Washington are getting to work on the $1.9-trillion stimulus proposal from the new president.
There are expectations that there will be some additional spending to materialize eventually that will help lift global economic growth.
Meanwhile, market participants remain hopeful that Fed Chair Jerome Powell will provide reassurance after Wednesday's policy meeting that $120 billion of monthly bond purchases won't be tapered any time soon.
Reports that OPEC and allies' compliance with regard to output curbs, and news about Indonesia seizing an Iranian-flagged tanker over suspected illegal fuel transfers contributed as well to oil's uptick.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170820/
Gold Futures Settle Lower For 3rd Straight Day
Gold prices drifted lower on Monday, extending losses to a third straight session, as the dollar recovered after early weakness and stayed firm against most of its peers.
However, gold's decline was limited due to optimism about stimulus. Traders were also looking ahead to the Federal Reserve's monetary policy announcement, due on Wednesday.
Reports showing spikes in coronavirus cases and tighter lockdown restrictions in several places across the globe raised concerns about growth and halted the bullion's slide.
The dollar index, which rose to 90.52, was last seen hovering around 90.40, up 0.18% from previous close.
Gold futures for February ended down $1.00 at $1,855.20 an ounce, after falling to a low of $1,846.20 from a high of $1,867.40.
Silver futures for March ended lower by $0.072 at $25.484 an ounce, while Copper futures for March settled at $3.6295 per pound, gaining $0.0035.
On the stimulus front, lawmakers in Washington are working on the $1.9-trillion stimulus proposal from the new president.
According to the Financial Times, Joe Biden faces a narrow window to clinch bipartisan support for his $1.9 trillion stimulus plan, after congressional Democrats said they wanted a deal before the impeachment trial against Donald Trump.
Investors, however, expect some additional spending to materialize eventually that will help lift global economic growth.
The Federal Reserve, which will announce its policy on Wednesday, is widely expected to put off any changes in their bond-buying program until next year.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170819/
Monday, 25 January 2021
CAC 40 Under Pressure as France Struggles to Contain the Virus
The 7-day rolling average remains above 20,000 in France despite strict measures to try and contain the virus Via DailyFX - Market News https://ift.tt/32vveVH
*Lithuania Dec Industrial Production S.A Up 0.6 % On Month
Lithuania Dec Industrial Production S.A Up 0.6 % On Month
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170784/
*Lithuania Dec Industrial Production Up 3.6% On Year
Lithuania Dec Industrial Production Up 3.6% On Year
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170783/
*Turkey Jan Manufacturing Confidence 107.0 Vs. 106.8 In December
Turkey Jan Manufacturing Confidence 107.0 Vs. 106.8 In December
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170782/
*Turkey Jan Manufacturing Confidence S.A 109.0 Vs. 110.4 In December
Turkey Jan Manufacturing Confidence S.A 109.0 Vs. 110.4 In December
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170781/
*Turkey Jan Manufacturing Capacity Utilization S.A 75.6% Vs. 75.4% In Dec
Turkey Jan Manufacturing Capacity Utilization S.A 75.6% Vs. 75.4% In Dec
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170780/
*Turkey Jan Manufacturing Capacity Utilization 75.4% Vs. 75.6% In Dec
Turkey Jan Manufacturing Capacity Utilization 75.4% Vs. 75.6% In Dec
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170779/
Finland Producer Prices Fall Further
Finland's producer prices declined further in December, albeit at a softer pace data from Statistics Finland showed on Monday.
Producer prices decreased 2.9 percent year-on-year in December, following a 4.6 percent decline in November.
On a month-on-month basis, producer prices rose 1.0 percent in December, following a 0.7 percent increase in the prior month.
The decline in the producer prices for manufactured products was particularly attributable to fallen prices of oil products, pulp, paper, paperboard and cardboard from December last year.
Import prices declined 6.0 percent annually in December and export prices fell by 4.4 percent.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170778/
*Finland Dec Producer Prices +1.0% On Month Vs. +0.7% In November
Finland Dec Producer Prices +1.0% On Month Vs. +0.7% In November
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170777/
*Finland Dec Producer Prices -2.9% On Year Vs. -4.6% In November
Finland Dec Producer Prices -2.9% On Year Vs. -4.6% In November
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2170776/
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