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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Wednesday, 31 March 2021
Crude Oil Prices Outlook: OPEC+ Output Cut Extension in Focus
China Manufacturing PMI Climbs To 51.9 In March - NBS
The manufacturing sector in China continued to expand in March, and at a faster rate, the National Bureau of Statistics said on Wednesday with a manufacturing PMI score of 51.9.
That beat expectations for 51.0 and was up from 50.6 in February, moving further above the boom-or-bust line of 50 that separates expansion from contraction.
The NBS also said its non-manufacturing PMI came in at 56.3, up sharply from 51.4 in the previous month.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174445/
*China Manufacturing PMI 51.9 In March - NBS
China Manufacturing PMI 51.9 In March - NBS
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174444/
Australia Building Permits Spike 21.6% In February
The total number of building permits issued in Australia was up a seasonally adjusted 21.6 percent on month in February, the Australian Bureau of Statistics said on Wednesday - coming in at 19,422.
That beat expectations for a gain of 5.0 percent following the 19.4 percent slide in January.
Private sector houses rose 15.1 percent to 13,939, while private sector dwellings excluding houses increased 45.3 percent.
Total dwelling approvals rose in Queensland (40.5 percent), Tasmania (31.6 percent), Victoria (21.7 percent), Western Australia (19.1 percent) and New South Wales (16.1 percent). Dwelling approvals fell in South Australia (3.4 percent).
The seasonally adjusted estimate for the value of non-residential building approved rose 27.5 percent.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174443/
Australia Private Sector Credit Gains 0.2% In February
Private sector credit in Australia was up 0.2 percent on month in February, the Reserve Bank of Australia said on Wednesday - unchanged from the January reading.
On a yearly basis, private sector credit rose 1.6 percent - slowing from 1.7 percent in the previous month.
Housing credit was up 0.4 percent on month and 3.8 percent on year, while personal credit lost 0.5 percent on month and 12.3 percent on year and business credit was flat on month and down 0.2 percent on year.
Broad money was up 0.1 percent on month and 12.5 percent on year.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174442/
*Australia Building Permits +21.6% On Month In February
Australia Building Permits +21.6% On Month In February
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174441/
*Australia Private Sector Credit +0.2% On Month, +1.6% On Year In February
Australia Private Sector Credit +0.2% On Month, +1.6% On Year In February
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174440/
Japan Industrial Production Drops 2.1% In February
Industrial output in Japan fell a seasonally adjusted 2.1 percent on month in February, the Ministry of Economy, Trade and Industry said on Wednesday.
That was shy of expectations for a fall of 1.2 percent following the 4.3 percent jump in January.
On a yearly basis, industrial production shed 2.6 percent - roughly in line with expectations - after sinking 5.2 percent in the previous month.
Upon the release of the data, the METI maintained its assessment of industrial production, saying that it continues to pick up.
Industries that contributed to the decline included motor vehicles, electrical machinery and chemicals, while production machinery and transport equipment were up.
Shipments were down 1.5 percent on month and 3.5 percent on year thanks to declines among motor vehicles, electrical machinery and other manufacturing.
Inventories were down 1.0 percent on month and 9.6 percent on year thanks to declines among motor vehicles, chemicals and electronic parts.
The inventory ratio was up 1.0 percent on month and down 4.8 percent on year.
According to the METI's forecast for industrial production, output is expected to have fallen 1.9 percent in March but then spike 9.3 percent in April.
Industries contributing to the decline in March include production machinery, business-oriented machinery and electrical machinery.
Industries contributing to the jump in April include production machinery, electrical machinery and business-oriented machinery.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174439/
Japan Industrial Output Sinks 2.1% In February
Industrial production in Japan was down a seasonally adjusted 2.1 percent on month in February, the Ministry of Economy, Trade and Industry said on Wednesday.
That was shy of expectations for a fall of 1.2 percent following the 4.3 percent jump in January.
On a yearly basis, industrial production shed 2.6 percent - roughly in line with expectations - after sinking 5.2 percent in the previous month.
Upon the release of the data, the METI maintained its assessment of industrial production, saying that it continues to pick up.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174438/
*Japan Industrial Production -2.1% On Month In February
Japan Industrial Production -2.1% On Month In February
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174437/
South Korea Industrial Production Climbs 4.3% In February
Industrial output in South Korea advanced a seasonally adjusted4.3 percent on month in February, Statistics Korea said on Wednesday.
That beat forecasts for a decline of 0.1 percent following the upwardly revised 1.2 percent contraction in January (originally -1.6 percent).
On a yearly basis, industrial production was up 0.9 percent - shy of expectations for an increase of 2.5 percent following the upwardly revised 7.8 percent jump in the previous month (originally 7.5 percent).
The Index of all industry production in February was up 2.1 percent on month and 0.4 percent on year.
The Manufacturing Production Index climbed 4.9 percent on month and 1.0 percent on year. The Manufacturing Shipment Index gained 2.2 percent on month and 1.3 percent on year. The Manufacturing Inventory Index in February rose 0.4 percent on month but fell 2.6 percent on year.
The Production Capacity Index fell 0.3 percent on month but gained 1.2 percent on year. The Index of Capacity Utilization Rate jumped 5.8 percent on month but shed 1.8 percent on year.
The Manufacturing Average Capacity Utilization Rate in February was 77.4 percent up 4.2 percentage points from the previous month. The Index of Services in February increased by 1.1 percent on month and 0.7 percent on year.
The Retail Sales Index in February lost 0.8 percent on month but increased 8.4 percent on year. The Equipment Investment Index fell 2.5 percent on month but gained 7.0 percent on year.
The Domestic Machinery Shipment Index in February eased 0.4 percent on year. The value of Domestic Machinery Orders Received in February surged an annual 26.7 percent.
The value of Construction Completed at constant prices increased by 6.5 percent on month but sank 8.7 percent on year. The value of Construction Orders Received at current prices shed 3.1 percent on year.
The Composite Coincident Index added 0.4 percent on month. The Cyclical Component of Composite Coincident Index, which reflects current economic situations, rose 0.3 points on month.
The Composite Leading Index gained 0.5 percent on month. The Cyclical Component of Composite Leading Index, which predicts the turning point in business cycle, increased by 0.2 points from the previous month.
Also on Wednesday, Statistics Korea said that the value of retail sales in South Korea was down a seasonally adjusted 0.8 percent on month in February.
That missed expectations for a decline of 0.3 percent following the 1.6 percent increase in January.
On a yearly basis, retail sales climbed 8.4 percent - exceeding expectations for a gain of 5.0 percent following the flat reading in the previous month.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174436/
South Korea Retail Sales Slip 0.8% In February
The value of retail sales in South Korea was down a seasonally adjusted 0.8 percent on month in February, Statistics Korea said on Wednesday.
That missed expectations for a decline of 0.3 percent following the 1.6 percent increase in January.
On a yearly basis, retail sales climbed 8.4 percent - exceeding expectations for a gain of 5.0 percent following the flat reading in the previous month.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174435/
*South Korea Retail Sales -0.8% On Month, +8.4% On Year In February
South Korea Retail Sales -0.8% On Month, +8.4% On Year In February
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174434/
South Korea Industrial Output Jumps 4.3% In February
Industrial production in South Korea climbed a seasonally adjusted4.3 percent on month in February, Statistics Korea said on Wednesday.
That beat forecasts for a decline of 0.1 percent following the upwardly revised 1.2 percent contraction in January (originally -1.6 percent).
On a yearly basis, industrial production was up 0.9 percent - shy of expectations for an increase of 2.5 percent following the upwardly revised 7.8 percent jump in the previous month (originally 7.5 percent).
The Index of all industry production in February was up 2.1 percent on month and 0.4 percent on year.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174433/
*South Korea Industrial Production +4.3% On Month, +0.9% On Year In February
South Korea Industrial Production +4.3% On Month, +0.9% On Year In February
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174432/
Bitcoin in Focus as CFTC Issues $572 Million Fine for Crypto Ponzi Scheme
China Manufacturing PMI On Tap For Wednesday
China will on Wednesday see March results for the manufacturing and non-manufacturing PMIs from the National Bureau of Statistics, highlighting a busy day in Asia-Pacific economic activity. The manufacturing PMI is expected to see a score of 51.2, up from 50.6 in February, while the non-manufacturing PMI is tipped to improve from 51.4 to 52.0.
Australia will release February numbers for building permits and private sector credit. In January, building permits plummeted 19.4 percent on month, while private sector credit rose 0.2 percent on month and 1.7 percent on year.
Japan will provide February figures for industrial production, housing starts and construction orders. Industrial production is forecast to have fallen 1.2 percent on month after climbing 4.3 percent in January. Housing starts are tipped to fall 4.8 percent on year after slipping 3.1 percent in January - when construction orders spiked 14.1 percent on year.
The Philippines will see February data for producer prices; in January, prices were down 5.3 percent on year.
South Korea will release February numbers for industrial production and retail sales. Industrial production is expected to ease 0.1 percent on month and rise 2.5 percent on year after falling 1.6 percent on month and gaining 7.5 percent on year in January. Retail sales were flat on month in January and up 1.6 percent on year.
Thailand will see February figures for industrial production, current account and its coincident index, as well as January numbers for retail sales. Industrial production is predicted to add 0.6 percent on year after sinking 2.8 percent in the previous month. In January, the current account deficit was $0.7 billion and the coincident had an index score of 126.5. In December, retail sales were down 0.38 percent on year.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174431/
Dollar Stays Firm Against Other Major Currencies
The U.S. dollar firmed up against major counterparts on Tuesday amid rising bond yields thanks to the momentum in vaccine rollout and on expectations of more stimulus measures.
Markets are awaiting President Joe Biden's announcement about infrastructure spending plan, due tomorrow.
According to a report released by the Conference Board, consumer confidence in the U.S. skyrocketed by much more than anticipated in the month of March.
The Conference Board said its consumer confidence index spiked to 109.7 in March from a downwardly revised 90.4 in February. Economists had expected the consumer confidence index to climb to 96.0 from the 91.3 originally reported for the previous month.
With the much bigger than expected increase, the consumer confidence index reached its highest level since the onset of the coronavirus pandemic in March of 2020.
The yield on 10-Year U.S. Treasury Note rose to 1.78% before easing a bit.
The Dollar Index advanced to 93.35 this morning, gaining about 0.45%. The index was last seen hovering around 93.30, up nearly 0.4% from previous close.
Against the Euro, the dollar firmed up to $1.1720, gaining about 0.4%. Eurozone economic confidence improved more-than-expected in March, survey results from the European Commission showed.
The economic sentiment index climbed to 101.0 in March from 93.4 in the previous month. The score was above economists' forecast of 96.0. This was the highest reading since February 2020.
The Pound Sterling was weaker by nearly 0.25%, fetching $1.3732 a unit, after having closed at $1.3764 on Monday.
The Yen weakened to 110.35 a dollar, nearly 0.5% down from previous close of 109.82 a dollar. The total value of retail sales in Japan was down 1.5 percent on year in February, the Ministry of Economy, Trade and Industry said on Tuesday - coming in at 11.628 trillion yen.
That beat forecasts for a decline of 2.8 percent following the 2.4 percent drop in the previous month.
Against the Aussie, the dollar was gaining more than 0.5%, having firmed up to 0.7593 from 0.7633.
Against Swiss franc, the dollar was stronger, fetching CHF 0.9421 a unit, up from CHF 0.9392. A measure signaling future turning points in the Swiss economy climbed to its highest in over a decade in March, suggesting a faster pace of economic recovery in the coming months.
The economic barometer rose to 117.8 from a revised 102.6 in February, the KOF Economic Institute said Tuesday. Economists had expected the index to climb to 104.6.
The Loonie weakened to 1.2633 a dollar from 1.2591 on Monday, giving up nearly 0.35%.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174430/
Chinese Yuan Forecast: USD/CNH May Fall After Strong PMI Figures
Fibonacci for a Multi-Market Trader’s Approach
Treasuries Close Nearly Unchanged After Recovering From Early Weakness
After coming under pressure early in the session, treasuries regained ground over the course of the trading day on Tuesday.
Bond prices climbed well off their worst levels of the day before ending the session nearly unchanged. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, inched up by less than a basis point to 1.726 percent.
Early in the session, the ten-year yield reached a high of 1.765 percent, its highest intraday level in fourteen months.
The initial weakness among treasuries came amid optimism about the coronavirus vaccine rollouts and the economy reopening as well as President Joe Biden's soon to be announced infrastructure plan.
Further reducing the appeal of safe havens like bonds, the Conference Board released a report showing consumer confidence skyrocketed by much more than anticipated in the month of March.
The Conference Board said its consumer confidence index spiked to 109.7 in March from a downwardly revised 90.4 in February.
Economists had expected the consumer confidence index to climb to 96.0 from the 91.3 originally reported for the previous month.
With the much bigger than expected increase, the consumer confidence index reached its highest level since the onset of the coronavirus pandemic in March of 2020.
Selling pressure waned over the course of the morning, however, inspiring some traders to pick up treasuries at reduced prices and higher yields.
Trading on Wednesday may be impacted by reaction to a report on private sector employment, as the markets will be closed when the Labor Department releases its more closely watched monthly jobs report on Friday.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174429/
Crude Oil Futures Settle Notably Lower
Crude oil prices drifted lower on Tuesday after concerns about likely disruptions eased after shipping traffic resumed through the Suez Canal.
Traders were also weighing possible impact of the surge in coronavirus cases and extended lockdown measures in Europe on near-term energy demand. West Texas Intermediate Crude oil futures for May ended down $1.01 or about 1.6% at $60.55 a barrel.
Brent crude futures were down $0.91 or 1.4% at $64.01 a barrel a little while ago.
Markets were looking ahead to the outcome of the upcoming meeting of the Organization of the Petroleum Exporting Countries and their allies. The oil cartel is expected to take call on production cuts during the meeting.
It is widely expected that the OPEC+ will stick with its tight production curbs for another month to safeguard the recovery in prices amid new coronavirus pandemic lockdowns.
Meanwhile, although traffic through Suez Canal has resumed, authorities said it could take up to 3 days to clear the backlog of ships waiting to transit the route.
Investors now await the weekly crude oil reports from the American Petroleum Institute (API) and Energy Information Administration (EIA). The API's report is due out later today, while EIA's inventory data will be out Wednesday morning.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174428/
Gold Futures Settle Sharply Lower For 2nd Straight Day
Gold prices drifted lower on Tuesday, pushing the most active gold futures contract to a weak close for a second straight session.
A stronger dollar and rising bond yields weighed on gold prices. Optimism about strong U.S. economic recovery amid momentum in vaccination rollout and reopening of businesses dimmed the demand for the safe haven metal.
The dollar index advanced to 93.35, gaining about 0.4%. The yield on U.S. 10-year Treasury Note rose to a 14-month high at about 1.778% before easing slightly.
Gold futures for June ended down $28.60 or about 1.7% at $1,686.00 an ounce. May series gold futures contracts settled lower by $28.30 or 1.7% at $1,683.90 an ounce.
Silver futures for May ended down $0.634 at $24.137 an ounce, while Copper futures for May settled at $3.9785 per pound, down $0.0560 from previous close.
In economic news, consumer confidence in the U.S. skyrocketed by much more than anticipated in the month of March, according to a report released by the Conference Board.
The Conference Board said its consumer confidence index spiked to 109.7 in March from a downwardly revised 90.4 in February. Economists had expected the consumer confidence index to climb to 96.0 from the 91.3 originally reported for the previous month.
With the much bigger than expected increase, the consumer confidence index reached its highest level since the onset of the coronavirus pandemic in March of 2020.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174427/
Tuesday, 30 March 2021
*Estonia February Retail Sales Up 4.0% On Year
Estonia February Retail Sales Up 4.0% On Year
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174346/
*Estonia Feb Retail Sales Flat On Month
Estonia Feb Retail Sales Flat On Month
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174347/
*Finland Feb Jobless Rate 8.1% Vs. 6.9% Last Year
Finland Feb Jobless Rate 8.1% Vs. 6.9% Last Year
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174345/
Gold Price (XAU/USD) Slumps as US Treasury Yields Hit a Fresh 14-Month High
DAX 30 Sets Record High as Positive Momentum Consolidates
British Pound (GBP) Latest: EUR/GBP Weakness Likely to Persist
Euro Price Outlook: Delayed Ratification of Recovery Fund to Weigh on EUR
Gold Price Eyes $1,700 as Yields Climb, ETF Outflows Continue
US Dollar May Still Have Edge as Emerging Markets Underperform Ahead of NFPs
Dow to Outperform vs. Nasdaq if Inflation Fears Force Fed Rethink
Japan Retail Sales Sink 1.5% On Year In February
The total value of retail sales in Japan was down 1.5 percent on year in February, the Ministry of Economy, Trade and Industry said on Tuesday - coming in at 11.628 trillion yen.
That beat forecasts for a decline of 2.8 percent following the 2.4 percent drop in the previous month.
On a monthly basis, retail sales jumped 1.4 percent after dropping 1.7 percent in January.
Commercial sales were down 3.3 percent on year and up 0.4 percent on month at 42.114 trillion yen, while wholesale sales sank 1.2 percent on month and 4.3 percent on year to 30.486 trillion yen.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174344/
*Japan Retail Sales -1.5% On Year In February
Japan Retail Sales -1.5% On Year In February
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174343/
Japan Jobless Rate Steady At 2.9% In February
The unemployment rate in Japan came in at a seasonally adjusted 2.9 percent in February, the Ministry of Internal Affairs and Communications said on Tuesday.
That was unchanged from the January reading and was below forecasts for 3.0 percent.
The job-to-applicant ratio was 1.09 - shy of expectations for 1.11, which would have been unchanged from the January reading.
The participation rate was 61.9 percent in February - exceeding expectations for 61.8 percent, which would have been unchanged from the previous month's number.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174342/
*Japan Unemployment Rate 2.9% In February
Japan Unemployment Rate 2.9% In February
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174341/
New Zealand Building Consents Tumble In February
The total number of building permits issued in New Zealand dropped a seasonally adjusted 18.2 percent on month in February, Statistics New Zealand said on Tuesday - coming in at 3,129.
That follows the downwardly revised 1.5 percent increase in January (originally 2.1 percent).
In the year to February 2021, the number of dwellings consented was up 4.9 percent - standing at 39,725.
The annual value of non-residential building work consented was NZ$7.1 billion, down 2.7 percent from the February 2020 year.
In February 2021, there were 3,129 new dwellings consented, comprising: 1,944 stand-alone houses; 884 townhouses, flats, and units; 155 retirement village units; and 146 apartments.
By region, the numbers of new dwellings consented in the year ended February 2021 (compared with the February 2020 year) were: 17,060 in Auckland - up 15 percent; 4,133 in Waikato - down 3.0 percent; 2,978 in Wellington - down 11 percent; 6,308 in rest of North Island - up 6.1 percent; 5,859 in Canterbury - up 7.2 percent; and 3,379 in rest of South Island - down 16 percent.
In the year ended February 2021, non-residential building consents totaled NZ$7.1 billion, down 2.7 percent from the February 2020 year.
In the February 2021 year, the non-residential building types with the highest values were: education buildings - NZ$1.3 billion (up 26 percent); storage buildings - NZ$1.1 billion (up 27 percent); and offices, administration, and public transport buildings - NZ$952 million (down 2.3 percent).
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174340/
Japan Jobless, Retail Sales Data Due On Tuesday
Japan will on Tuesday release February numbers for unemployment and retail sales, highlighting a light day for Asia-Pacific economic activity.
The jobless rate is expected to rise to 3.0 percent from 2.9 percent in January. Retail sales were down 0.5 percent on month and 2.4 percent on year in January.
New Zealand will see February data for building permits; in January, permits were up 2.1 percent on month.
Hong Kong will see February figures for retail sales; in January, retail sales were down 14.5 percent on year.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174339/
New Zealand Building Approvals Plummet In February
The total number of building permits issued in New Zealand was down a seasonally adjusted 18.2 percent on month in February, Statistics New Zealand said on Tuesday - coming in at 3,129.
That follows the downwardly revised 1.5 percent increase in January (originally 2.1 percent).
In the year to February 2021, the number of dwellings consented was up 4.9 percent - standing at 39,725.
The annual value of non-residential building work consented was NZ$7.1 billion, down 2.7 percent from the February 2020 year.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174338/
*New Zealand Building Permits -18.2% On Month In February
New Zealand Building Permits -18.2% On Month In February
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174337/
Bitcoin (BTC), Ethereum (ETH) Forecast: Visa Adoption to Buoy Cryptos
Dow Jones Extends Higher on Infrastructure Hopes. Nikkei 225, ASX 200 May Rise
Crude Oil Price Outlook: WTI May Rise as Saudi Arabia Shows Support to Extend OPEC+ Cuts
Oil Futures Settle Higher
Crude oil futures settled higher on Monday amid concerns about possible disruptions in supply.
However, news about freeing of the container ship that had got stranded in the Suez canal helped limit oil's downside.
West Texas Intermediate Crude oil futures for May ended higher by $0.59 or about 1% at $61.56 a barrel.
Brent crude futures were up $0.47 or 0.73% at $64.90 a barrel a little while ago.
Traders were looking ahead to the decision of the Organization of the Petroleum Exporting Countries and their allies, with regard to production curbs. The OPEC+ will be announcing their decision on Thursday (April 1).
Oil prices drifted down earlier in the day as the cargo ship blocking the Suez Canal was partially refloated, raising hopes the vital waterway will soon be reopened.
The Ever Given, an enormous container ship almost the length of the Empire State Building, has been wedged since early last week in the canal. The authorities said they hoped the ship would soon be completely freed.
Almost 15% percent of world shipping goes through the Suez Canal, which cuts through Egypt from the Mediterranean to the Red Sea.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174336/
Gold Futures Settle Notably Lower As Dollar, Bond Yields Rise
Gold prices drifted lower on Monday, pushing the most active gold futures contract to its lowest close in about three weeks, as the dollar firmed up and the yields on U.S. Treasury Notes rose.
The dollar index advanced to 92.96, gaining about 0.2%. The yield on U.S. 10-year Treasury Note rose to over 1.70%.
Gold futures for April ended down $20.10 or about 1.2% at $1,712.20 an ounce, the lowest close since March 8.
Gold futures slid to a low of $1,703.30 an ounce around mid morning before recovering some lost ground.
Silver futures for May ended lower by $0.343 or 1.4% at $24.771 an ounce, while Copper futures settled at $4.0345 per pound, losing $0.0335 or about 0.8%.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174335/
Monday, 29 March 2021
Singapore Producer Prices Decline Slows In February
Singapore's producer prices declined at a softer pace in February, data from the Department of Statistics showed on Monday.
The manufacturing producer price index decreased 3.2 percent year-on-year in February, following an 5.1 percent decline in January.
The oil index grew 5.6 percent annually in February, while the non-oil indices fell 4.3 percent.
The Domestic Supply Price Index declined 0.7 percent year-on-year in February, following a 4.6 percent decrease in January.
On a monthly basis, producer prices rose 1.9 percent in February, following a 1.8 percent increase in the preceding month.
Another report from the statistical office showed that the import prices fell 3.5 percent annually in December, following a 5.8 percent decrease in the previous month.
On a month-on-month basis, import prices increased 2.8 percent in February, following a 1.9 percent gain in the prior month.
Data showed that export prices declined 1.9 percent yearly in February and grew 2.9 percent from a month ago.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174301/
Archegos Capital Management Latest - Lenders Warn of Significant Losses
Vietnam Q1 GDP Growth Stable At 4.5%
Vietnam's economy expanded at a steady pace in the first quarter, official data showed on Monday.
Gross domestic product grew 4.5 percent year-on-year in the first quarter, the same rate as seen in the fourth quarter.
The annual growth was largely driven by robust exports, which was up 22 percent. At the same time, imports advanced 26.3 percent.
The economy lost a little momentum in the first quarter due to a renewed virus outbreak, but with the latest wave quashed and most restrictions now lifted, the economy should bounce back strongly over the coming quarters, Gareth Leather, an economist at Capital Economics, said.
Data showed that consumer prices climbed at a faster pace of 1.16 percent in the first quarter from the same period last year.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174300/
Finland Consumer Confidence Weakens; Industrial Confidence Improves
Finland's consumer confidence decreased and industrial morale improved in March, separate survey results showed on Monday.
The consumer sentiment index fell to -3.0 in March from -0.8in February, Statistics Finland said.
Among the four components, households' expectations of their own economy at present improved in March and households' expectation concerning there own economy in twelve months remained unchanged.
Meanwhile, households' expectation concerning Finland's economy weakened in March and intentions to spend money on durable goods decreased.
The data was collected from 1080 persons between March 1 and 21.
Data from the Confederation of Finnish Industries showed that the manufacturing confidence index rose five points to +3 in March from -2.0 in February. The reading was above the long-term average of +1.
The construction confidence indicator increased to -16 in March from -23 in February. The reading was weaker than its long-term average of -7.
The service sector confidence indicator declined three points to -4 in March.
The retail trade confidence remained unchanged at -1 in March, which was same the long-term average of -1.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174299/
Malaysia Exports Rises In February
Malaysia's exports grew in February, data from the Department of Statistics showed on Monday.
Exports increased 17.6 percent year-on-year to MYR 87.6 billion in February. Economists had expected a rise of 8.8 percent.
Imports gained 12.7 percent annually to MYR 69.7 billion in February. Economists had forecast a 4.0 percent rise.
The trade surplus totaled MYR 17.9 billion in February, which was above the expected level of MYR 15.9 billion.
On a monthly basis, exports declined 2.3 percent in February and imports decreased 4.5 percent.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174298/
USD Shorts Squeezed, Heavy Selling in JPY & NZD, GBP Longs Slashed - COT Report
*Vietnam Q1 GDP Rises 4.5% On Year
Vietnam Q1 GDP Rises 4.5% On Year
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174297/
*Singapore Feb Manufactured Products Prices Up 1.9% On Month Vs. +1.8% In January
Singapore Feb Manufactured Products Prices Up 1.9% On Month Vs. +1.8% In January
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174296/
*Singapore Feb Manufactured Products Prices Down 3.2% Y-o-Y Vs. -5.1% In January
Singapore Feb Manufactured Products Prices Down 3.2% Y-o-Y Vs. -5.1% In January
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174295/
*Singapore Feb Import Prices Rise 0.8% On Year Vs. -1.8% In January
Singapore Feb Import Prices Rise 0.8% On Year Vs. -1.8% In January
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174294/
*Finland Mar Manufacturing Confidence +3.0 Vs. -2.0 In February
Finland Mar Manufacturing Confidence +3.0 Vs. -2.0 In February
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174293/
*Finland Mar Consumer Confidence -3.0 Vs. -0.8 In February
Finland Mar Consumer Confidence -3.0 Vs. -0.8 In February
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174292/
European Economics Preview: UK Mortgage Approvals Data Due
Mortgage approvals data from the UK is due on Monday, headlining a light day for the European economic news.
At 1.00 am ET, consumer and industrial confidence survey results are due from Finland.
At 4.00 am ET, IHS Markit releases Austria's manufacturing PMI survey results.
Half an hour later, the Bank of England publishes mortgage approvals data for February. The number of mortgages approved in February is seen at 95,000 versus 99,000 in January. At 6.00 am ET, February retail sales data is due from Ireland. Sales had declined 21.8 percent on month in January.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174291/
British Pound (GBP) Latest: GBP/USD Pushing Ahead on Vaccine Cheer
*Malaysia Feb Trade Surplus MYR 17.9 Billion, Consensus MYR 15.9 Bln
Malaysia Feb Trade Surplus MYR 17.9 Billion, Consensus MYR 15.9 Bln
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174290/
Dow Jones, Nasdaq 100 Hampered by Tax-Hike Talks, Archegos Block Sales
Crude Oil, Gold Prices Down as Block Trade Drama Boosts US Dollar
How to Trade the Impact of Politics on Global Financial Markets
US Dollar May Still Have Edge as Emerging Markets Underperform Ahead of NFPs
Silver Price Forecast: Biden Infrastructure Plan May Direct XAG/USD Higher
Singapore Price Data Due On Monday
Singapore is scheduled to release February figures for import prices, export prices and producer prices, highlighting a light day for Asia-Pacific economic activity.
In January, import prices were down 2.2 percent on year, while export prices and producer prices both sank an annual 4.7 percent.
Thailand will see unemployment numbers for January and February; in December, the jobless rate was 1.5 percent.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174289/
How to Short Sell a Stock When Trading Falling Markets
Implied Volatility: What is it & Why Should Traders Care?
S&P 500 May Face Volatility Into Quarter End, but Momentum Points to More Upside
Sunday, 28 March 2021
Markets Week Ahead: Nasdaq 100, US Dollar, Gold, Crude Oil, Fed Ends SLR Exemption, NFPs
Markets Week Ahead: Nasdaq 100, US Dollar, Gold, Crude Oil, Fed Ends SLR Exemption, NFPs
Will Dow Jones Continue to Outperform Nasdaq 100 on Reflation Optimism?
Will Dow Jones Continue to Outperform Nasdaq 100 on Reflation Optimism?
USD/MXN Outlook: Should Banxico Keep Rates Steady or React to Inflation?
USD/MXN Outlook: Should Banxico Keep Rates Steady or React to Inflation?
Euro Forecast: EUR/USD Outlook Bleak on Lockdowns, Third Wave Fears
Euro Forecast: EUR/USD Outlook Bleak on Lockdowns, Third Wave Fears
Saturday, 27 March 2021
Gold Weekly Price Forecast: XAU Caught Between Treasury Yields and USD
Gold Weekly Price Forecast: XAU Caught Between Treasury Yields and USD
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US Dollar Rally to Benefit from Upbeat Non-Farm Payrolls (NFP) Report
US Dollar Rally to Benefit from Upbeat Non-Farm Payrolls (NFP) Report
Dollar Turns Easy Against Some Peers
The U.S. dollar shed ground against some of its major counterparts on Friday, although it managed to hold near multi-month highs amid continued optimism about a quick U.S. economic recovery.
The dollar index advanced to 92.87 before paring some gains. Still, at 92.73, the index was up by about 0.22% a little while ago.
Against the Euro, the dollar weakened to $1.1793, sliding by about 0.25%.
The Pound Sterling strengthened against the dollar, fetching $1.3792 a unit, compared to $1.3732 on Thursday.
The Yen weakened to 109.68 a dollar, losing nearly 0.5%.
The Aussie was stronger against the dollar. The AUD-USD pair was quoting at 0.7641 a little while ago, giving the Aussie a gain of about 0.8%.
The Swiss franc was slightly stronger against the greenback at 0.9391, while the Loonie firmed up to 1.2570 a dollar, gaining 0.35% from $1.2613.
In U.S. economic news, the Commerce Department released a report showing personal income pulled back sharply in the month of February.
The Commerce Department said personal income plunged by 7.1% in February after skyrocketing by an upwardly revised 10.1% in January.
Economists had expected personal income to plummet by 7.3% compared to the 10% spike originally reported for the previous month.
The sharp pullback in personal income primarily reflected a decrease in government social benefits following the distribution of $600 stimulus checks in January.
The report also showed personal spending slumped by 1% in February after soaring by an upwardly revised 3.4% in January.
Economists had expected personal spending to decrease by 0.7% compared to the 2.4% jump originally reported for the previous month.
Meanwhile, a reading on inflation said to be preferred by the Federal Reserve showed the annual rate of core consumer price growth slowed to 1.4% in February from 1.5% in January.
A separate report from the University of Michigan showed U.S. consumer sentiment improved by even more than previously estimated in the month of March.
The University of Michigan said its consumer sentiment index for March was upwardly revised to 84.9 from the preliminary reading of 83.0. Economists had expected the index to be upwardly revised to 83.6.
The consumer sentiment index is well above the final February reading of 76.8, reaching its highest level since hitting 89.1 in the same month a year ago.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174288/
Australian Dollar May Wobble if Chinese and Tech Stocks Keep Sinking
Australian Dollar May Wobble if Chinese and Tech Stocks Keep Sinking
Treasuries Give Back Ground Amid Optimism About Economy Reopening
After trending higher earlier in the week, treasuries gave back some ground during the trading session on Friday.
Bond prices climbed off their worst levels after an initial drop but remained firmly in negative territory. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, climbed 4.6 basis points at 1.660 percent.
The pullback by treasuries came as optimism about the economy reopening reduced the appeal of safe havens like bonds after President Joe Biden doubled his goal for the administration of coronavirus vaccines in his first 100 days in office.
On Thursday Biden announced a new goal of administering 200 million coronavirus vaccinations within his first 100 days after reaching his goal of 100 million shots before his 60th day in office.
"I know it's ambitious, twice our original goal. But no other country in the world has even come close, not even close to what we are doing. I believe we can do it," Biden told reporters at his first official press conference as president.
According to the Centers for Disease Control and Prevention, 137 million Covid vaccines have been administered, with nearly 15 percent of the population fully vaccinated.
In U.S. economic news, the Commerce Department released a report showing personal income pulled back sharply in the month of February.
The Commerce Department said personal income plunged by 7.1 percent in February after skyrocketing by an upwardly revised 10.1 percent in January.
Economists had expected personal income to plummet by 7.3 percent compared to the 10.0 percent spike originally reported for the previous month.
The sharp pullback in personal income primarily reflected a decrease in government social benefits following the distribution of $600 stimulus checks in January.
The report also showed personal spending slumped by 1.0 percent in February after soaring by an upwardly revised 3.4 percent in January.
Economists had expected personal spending to decrease by 0.7 percent compared to the 2.4 percent jump originally reported for the previous month.
Meanwhile, a reading on inflation said to be preferred by the Federal Reserve showed the annual rate of core consumer price growth slowed to 1.4 percent in February from 1.5 percent in January.
A separate report from the University of Michigan showed U.S. consumer sentiment improved by even more than previously estimated in the month of March.
The University of Michigan said its consumer sentiment index for March was upwardly revised to 84.9 from the preliminary reading of 83.0. Economists had expected the index to be upwardly revised to 83.6.
The consumer sentiment index is well above the final February reading of 76.8, reaching its highest level since hitting 89.1 in the same month a year ago.
Reports on consumer confidence, private sector employment, and manufacturing activity may attract attention next week, although trading activity is likely to be somewhat subdued ahead of the Easter weekend.
The Labor Department's closely watched monthly jobs report is scheduled to be released next Friday, when the markets will be closed for Good Friday.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174287/
Oil Futures Settle Sharply Higher
Crude oil prices rose sharply on Friday amid concerns it might take several weeks to dislodge the giant container ship that is blocking the Suez Canal, a critical commodity chokepoint that connects the Red Sea with the Mediterranean.
West Texas Intermediate Crude oil futures for May ended up $2.41 or about 4.1% at $60.97 a barrel. WTI futures shed about 0.8% in the week.
Brent crude futures were up $2.65 or 4.28% at $64.60 a barrel a little while ago.
According to reports, efforts are on to free the giant cargo ship blocking Egypt's Suez Canal which is estimated to be holding up more than $9bn (?6.5bn) worth of goods each day.
Officials stopped all ships entering the canal on Thursday, and a salvage company said the vessel may take weeks to free.
Hopes that the OPEC and its allies might continue with lower production contributed as well to the rise in oil prices.
However, there are concerns about outlook for energy demand due to extension of coronavirus lockdowns in several countries in Europe. The European Commission has warned that the European Union is at the start of a third wave of the pandemic.
France has extended partial lockdowns in more areas and President Macro has warned that the next few weeks will be tough.
A report from Baker Hughes showed the number of oil and gas rigs in the United States increased by 6 this week, after an increase of 9 last week. The total number of active oil and gas rigs in the U.S. is now at 417, which is 311 fewer than this time last year.
The oil rig count has increased by nearly 30 rigs over the last two months.
The oil rig count increased by 6 this week to 324, and the number of gas rigs stayed the same at 92. The number of miscellaneous rigs also remained unchanged at 1.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174286/
Gold Futures Settle Higher For The Day, But Shed 0.5% In Week
Gold futures ended higher on Friday, but still posted a weekly loss as the dollar's continued strength dimmed the demand for the safe-haven asset.
As risk sentiment improved thanks to strong U.S. economic data and progress on vaccination rollouts, equities gained in strength.
The dollar index, which rose to 92.87, was last seen at 92.80, up nearly 0.3% from previous close.
Gold futures for April ended up $7.20 or about 0.4% at $1,732.30 an ounce. Gold futures shed 0.5% in the week, the first weekly loss in three weeks.
Silver futures for May finished higher by $0.067 at $25.114 an ounce, while Copper futures for May settled at $4.0680 per pound, gaining $0.0900.
A report released by the University of Michigan showed U.S. consumer sentiment improved by even more than previously estimated in the month of March.
The report said, the consumer sentiment index for March was upwardly revised to 84.9 from the preliminary reading of 83.0. Economists had expected the index to be upwardly revised to 83.6.
The consumer sentiment index is well above the final February reading of 76.8, reaching its highest level since hitting 89.1 in the same month a year ago.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174285/
Friday, 26 March 2021
Pound Climbs Vs Most Majors Ahead Of U.K. Retail Sales
At 3.00 am ET Friday, the Office for National Statistics publishes UK retail sales data for February. Economists forecast retail sales to grow 2.1 percent on month, reversing January's 8.2 percent fall.
Ahead of the data, the pound retreated against the euro, but rose against the rest of major rivals.
The pound was worth 1.3755 against the greenback, 150.31 against the yen, 1.2930 against the franc and 0.8565 against the euro as of 2:55 am ET.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174225/
FTSE 100 Outlook: US Economic Recovery Optimism Spilling Into European Equities
Australian Dollar Forecast: Key AUD/USD Set-Up Levels to Watch
Singapore Industrial Production Increases In February
Singapore's industrial production grew in February, data from the Economic Development Board showed on Friday.
Industrial output rose 16.4 percent year-on-year in February, following a 9.2 percent growth in January. Production was forecast to increase 16.5 percent.
Excluding biomedical manufacturing, industrial production grew 13.6 percent yearly in February, following a 13.0 percent increase in the preceding month.
On a monthly basis, industrial production rose 1.6 percent in February, slower than 4.3 percent gain in the previous month. Economists had expected a 2.9 percent fall.
Production of electronics surged 30.3 percent annually in February and that of biomedical manufacturing rose by 23.9 percent. Precision engineering output gained 15.0 percent and chemicals increased 2.5 percent.
Meanwhile, general manufacturing output declined 5.5 percent and transport engineering fell 24.2 percent.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174224/
*Dutch Q4 GDP -2.8% On Year Vs. -2.4% In Q3
Dutch Q4 GDP -2.8% On Year Vs. -2.4% In Q3
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174223/
South Korea Consumer Confidence Improves In March
South Korea's consumer confidence improved in March, survey results from Bank of Korea showed on Friday.
The consumer confidence index rose to 100.5 in March from 97.4 in February.
The indicator measuring current living standards rose two points to 89 in March and that concerning the outlook for living standards increased one points to 95.
Consumer sentiment related to future household income remained unchanged at 96 and future spending index grew three points to 107.
Consumer sentiment concerning current domestic conditions increased nine points to 72 and future domestic economic conditions rose three points to 93.
The expected inflation rate for the following year was 2.1 percent versus 2.0 percent a month ago.
The survey was conducted among 2,500 households between March 9 and 16.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174222/
European Economics Preview: German Ifo Business Confidence Data Due
Business confidence from Germany and retail sales from the UK are due on Friday, headlining a light day for the European economic news.
At 3.00 am ET, the Office for National Statistics publishes UK retail sales data for February. Economists forecast retail sales to grow 2.1 percent on month, reversing January's 8.2 percent fall.
At 4.00 am ET, Spain INE releases quarterly GDP data for the fourth quarter. The statistical office is expected to confirm 0.4 percent sequential growth.
At 4.30 am ET, Statistics Sweden publishes retail sales and foreign trade data for February. Sales had increased 3.4 percent on month in January.
At 5.00 am ET, Germany's ifo institute is set to issue business confidence survey results. Economists forecast the business sentiment index to rise to 93.2 in March from 92.4 in February.
In the meantime, Italy's Istat releases business and consumer sentiment survey data. The business confidence index is seen at 99.4 in March, up from 99.0 in February.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174221/
*Singapore Feb Industrial Production +1.6% On Month Vs. +4.3% In Janaury
Singapore Feb Industrial Production +1.6% On Month Vs. +4.3% In Janaury
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174220/
*Singapore Feb Industrial Production +16.4% On Year Vs. +9.2% In Janaury
Singapore Feb Industrial Production +16.4% On Year Vs. +9.2% In Janaury
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174219/
Tokyo Core Consumer Prices Fall At Slower Pace
Tokyo's consumer prices declined at a slower pace in March, data published by the Ministry of Internal Affairs and Communications showed on Friday.
The core consumer price index, excluding food, dropped 0.1 percent year-on-year in March. The annual rate was forecast to fall 0.2 percent after easing 0.3 percent in February. Core prices have been falling since August 2020.
Excluding food and energy, Tokyo inflation rose to 0.3 percent from 0.2 percent in the previous month. This was the highest rate since July 2020.
The overall Tokyo CPI fell 0.2 percent annually after decreasing 0.3 percent in February.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174218/
British Pound (GBP) Latest: GBP/USD Pushes Higher, EUR/GBP Eyes Multi-Month Lows
Fibonacci for a Multi-Market Trader’s Approach
*Tokyo Mar Consumer Prices Fall 0.2% On Year Vs. -0.3% In February
Tokyo Mar Consumer Prices Fall 0.2% On Year Vs. -0.3% In February
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174217/
*South Korea Mar Consumer Confidence 100.5 Vs. 97.4 In Feb, Consensus 96.2
South Korea Mar Consumer Confidence 100.5 Vs. 97.4 In Feb, Consensus 96.2
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174216/
Canadian Dollar Forecast: US Inflation Data to Trigger USD/CAD Downtrend?
Crude Oil Prices Look Past Suez Canal Blockage, Gold May Rise on US PCE Data
Copper Prices Sink to Two-Week Low on US Dollar Strength
Dow Jones May Lead Hang Seng, ASX 200 Higher as the Fed Lifts Bank Dividend Restrictions
Dollar Continues To Exhibit Strength Against Rivals
The U.S. dollar exhibited strength against most of its major counterparts on Thursday amid hopes the U.S. economy will see a much stronger than expected recovery.
Data from the Commerce Department showed that real gross domestic product surged up by 4.3% in the fourth quarter compared to the previously reported 4.1% jump. Economists had expected the pace of GDP growth to be unrevised.
Data from the Labor Department showed that U.S. weekly jobless claims slid to 684,000 in the week ended March 20, a decrease of 97,000 from the previous week's revised level of 781,000. Economists had expected jobless claims to decline to 730,000 from the 770,000 originally reported for the previous week.
The dollar index, which advanced to 92.92 was last seen at 92.85, up 0.35% from previous close.
Against the Euro, the dollar firmed up to $1.1765, rising 0.42% from Wednesday's close of $1.1815.
The Pound Sterling weakened against the dollar, fetching $1.3732 a unit, about 0.35% less from previous closing level.
The Yen weakened to 109.19 a dollar, sliding from 108.73.
The Aussie was down marginally with the AUD-USD pair at 0.7581.
The Swiss franc was weak against most of its counterparts after the Swiss National Bank left its policy rates unchanged. Against the dollar, the Swiss currency was down nearly 0.5% at CHF 0.9402. Policymakers of the Swiss National Bank retained the policy rate and interest on sight deposits at the SNB at -0.75%, as widely expected.
Despite the recent weakening, the bank repeated that the Swiss franc remains highly valued. The bank said it is willing to intervene in the foreign exchange market 'as necessary', while taking the overall currency situation into consideration.
The Loonie, at 1.2613 a dollar, was down by about 0.3%.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174215/
How to Trade Forex News: An Introduction
Crude Oil Futures Settle Sharply Lower On Demand Worries
Crude oil prices drifted lower on Thursday weighed down by worries about outlook for energy demand due to extension of lockdown measures in several countries.
Traders largely shrugged off the Suez Canal disruptions and signs of stronger gasoline demand in the U.S. At least 150 vessels were said to be waiting to use the Suez Canal after a skyscraper-sized cargo ship wedged across the vital waterway, according to canal service provider Leth Agencies.
West Texas Intermediate Crude oil futures for May ended lower by $2.62 or 4.3% at $58.56 a barrel. Crude futures had surged up 5.9% on Wednesday, after having plunged more than 6% a session earlier.
Brent crude futures were down $2.68 or 4.2% at $61.73 a barrel a little while ago.
Several countries in Europe, including Germany, France and Italy are seeing spikes in coronavirus cases and are reportedly extending lockdown measures. Also, there are growing concerns about vaccine delays causing a dent in fuel demand.
A stronger dollar contributed as well to the decline in oil prices today.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174214/
Treasuries Close Flat After Lackluster Session
After trending higher over the past few sessions, treasuries showed a lack of direction over the course of the trading day on Thursday.
Bond prices spent much of the trading day lingering near the unchanged line. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, ended the day flat at 1.614 percent.
Treasuries moved to the downside following the release of the results of the Treasury Department's auction of $62 billion worth of seven-year notes but rebounded going into the close.
The seven-year note auction drew a high yield of 1.300 percent and a bid-to-cover ratio of 2.23, while the ten previous seven-year note auctions had an average bid-to-cover ratio of 2.36.
The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.
Earlier this week, the Treasury revealed its auction of $60 billion worth of two-year notes attracted average demand, while its auction of $61 billion worth of five-year notes attracted slightly below average demand.
Meanwhile, bond traders seemed to shrug off a Labor Department report showing initial jobless claims fell to their lowest level since the early days of the coronavirus pandemic.
The report said initial jobless claims slid to 684,000 in the week ended March 20th, a decrease of 97,000 from the previous week's revised level of 781,000.
Economists had expected jobless claims to decline to 730,000 from the 770,000 originally reported for the previous week.
With the much bigger than expected decrease, jobless claims dropped to their lowest level since hitting 282,000 in the week ended March 14, 2020.
A separate report from the Commerce Department showed economic activity in the U.S. unexpectedly grew faster than previously estimated in the fourth quarter of 2020.
The report showed real gross domestic product surged up by 4.3 percent in the fourth quarter compared to the previously reported 4.1 percent jump. Economists had expected the pace of GDP growth to be unrevised.
Meanwhile, Federal Reserve Chair Jerome Powell told National Public Radio's "Morning Edition," accelerated coronavirus vaccine distribution combined with support from Congress will enable the U.S. to reopen the economy sooner than might have been expected.
Powell also said the Fed plans to gradually roll back its asset purchases as the economy makes substantial progress towards the Fed's goals of maximum employment and price stability.
While Powell stressed the pullback in support will only come when the "economy has all but fully recovered."
Looking ahead, trading on Friday may be impacted by reaction to reports on personal income and spending and consumer sentiment.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174213/
Gold Futures Settle Lower As Dollar Climbs Up
Gold futures settled lower on Thursday, weighed down by a stronger dollar and higher U.S. Treasury yields.
Treasury yields climbed after Fed Chair Jerome Powell told the Senate Committee on Banking, Housing and Urban Affairs on Wednesday that 2021 was "going to be a very, very strong year in the most likely case."
Powell said that inflation will move up over the course of this year, but the effect will be neither particularly large nor persistent.
Powell also said the Fed plans to gradually roll back its asset purchases as the economy makes substantial progress towards the Fed's goals of maximum employment and price stability.
The dollar index rose to 92.92 and despite paring some gains subsequently, was still firmly up in positive territory at 92.81, up 0.3% from previous close.
Gold futures for April ended down $8.10 or about 0.5% at $1,725.10 an ounce.
Silver futures for May closed lower by $0.184 at $25.047 an ounce, while Copper futures for May settled with a loss of $0.0860 at $3.9780 per pound.
Data from the Labor Department showed initial jobless claims slid to 684,000 in the week ended March 20th, a decrease of 97,000 from the previous week's revised level of 781,000. Economists had expected jobless claims to decline to 730,000 from the 770,000 originally reported for the previous week.
With the much bigger than expected decrease, jobless claims dropped to their lowest level since hitting 282,000 in the week ended March 14, 2020.
A separate report from the Commerce Department showed real gross domestic product surged up by 4.3% in the fourth quarter compared to the previously reported 4.1% jump. Economists had expected the pace of GDP growth to be unrevised.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174212/
Thursday, 25 March 2021
*RBI's Das: Working On Introducing Digital Version Of Fiat Currency
RBI's Das: Working On Introducing Digital Version Of Fiat Currency
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source http://www.mt5.com/forex_news/quickview/2174146/
*RBI's Das: Don't Foresee Kind Of Lockdown Experienced Last Year - PTI
RBI's Das: Don't Foresee Kind Of Lockdown Experienced Last Year - PTI
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source http://www.mt5.com/forex_news/quickview/2174145/
The Suez Canal and the Importance for Crude Oil Prices
German Consumer Sentiment Set To Improve In April
German consumer sentiment is set to improve in April after the easing of the hard lockdown and falling infection rates at the time of the survey, data from market research group GfK showed Thursday.
The forward-looking consumer sentiment index rose to -6.2 in April from revised -12.7 in March. The reading was forecast to climb to -11.9.
With infection rates rising again and the lockdown will be tightened again, it is questionable whether the improvement in consumer confidence will continue, Gfk observed.
"A sustained recovery in consumer confidence will continue to be a long time coming - which means difficult times ahead for retailers and manufacturers," Rolf B?rkl, GfK consumer expert, said.
The income expectations indicator gained 15.8 points to 22.3 points in March. Income expectations significantly contributed to the sharp increase in sentiment.
The propensity to buy also increased in March. The corresponding index climbed 4.9 points to12.3 points.
The economic expectations index rose 9.7 points to 17.7 in March. With the first easing from the hard lockdown, consumers expect the German economy to recover further.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174144/
Euro Little Changed After German GfK Consumer Confidence Index
German Gfk consumer confidence survey results have been published at 3.00 am ET Thursday. The euro changed little against its major rivals after the data.
The euro was trading at 128.71 against the yen, 1.1815 against the greenback, 0.8637 against the pound and 1.1060 against the franc around 3:01 am ET.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174143/
*German Apr Gfk Consumer Confidence -6.2 Vs. -12.7 In Mar, Consensus -11.9
German Apr Gfk Consumer Confidence -6.2 Vs. -12.7 In Mar, Consensus -11.9
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174142/
Euro Mixed Ahead Of German GfK Consumer Confidence Index
At 3.00 am ET Thursday, the market research group Gfk is set to release consumer confidence survey results. The consumer sentiment index is seen at -11.9 in April versus -12.9 in March.
Ahead of the data, the euro traded mixed against its major rivals. While it held steady against the greenback and the yen, it against the pound and the franc.
The euro was worth 128.80 against the yen, 1.1821 against the greenback, 0.8635 against the pound and 1.1062 against the franc as of 2:55 am ET.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174141/
Ireland Consumer Confidence Improves In March
Ireland's consumer confidence improved for the second month in a row in March, survey data from KBC Bank showed on Thursday.
The consumer confidence increased to 77.1 in March from 70.8 in February.
"The strongest monthly improvements in the March report were seen in the forward-looking elements of the survey dominated by the twelve month outlook for Irish economic activity and jobs," KBC Ireland analyst Austin Hughes said.
The current condition index rose to 88.8 in March from 83.0 in the previous month.
The index of consumers expectations grew to 69.3 in March from 62.7 in the prior month.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174140/
Indian Rupee Off 6-day Low Against U.S. Dollar
The Indian rupee came off from its early low against U.S. dollar in late morning deals on Thursday.
Concerns over climbing Covid-19 cases and caution ahead of the expiry of March series derivative contracts on the NSE weighed on Indian shares.
The benchmark S&P BSE Sensex plunged 599 points, or 1.22 percent, to 48,581, while the broader NSE Nifty index was down 175 points, or 1.2 percent, at 14,375.
The Indian rupee was trading at 72.60 against the greenback, up from a 6-day low of 72.70 seen earlier in the session. The rupee may locate resistance around the 70.00 level.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174139/
European Economics Preview: Swiss Central Bank Rate Decision Due
The monetary policy announcement from the Swiss National Bank is due on Thursday, headlining a busy day for the European economic news. At 3.00 am ET, the market research group Gfk is set to release consumer confidence survey results. The consumer sentiment index is seen at -11.9 in April versus -12.9 in March.
At 3.45 am ET, the French statistical office Insee publishes business sentiment survey results. The business confidence index is expected to rise marginally to 98 in March from 97 in February.
At 4.00 am ET, Spain's INE releases producer prices data.
At 4.30 am ET, the Swiss central bank announces its monetary policy decision. The central bank is expected to retain the policy rate and interest on sight deposits at the SNB at -0.75 percent.
In the meantime, Statistics Sweden publishes producer prices for February.
At 5.00 am ET, the European Central Bank is set to publish economic bulletin.
At 6.00 am ET, the ECB is scheduled to issue money supply data for February. Eurozone M3 is forecast to grow 12.5 percent annually, the same rate as seen in January.
At 7.00 am ET, the Confederation of British Industry releases Distributive Trades survey data for March. The retail sales balance is seen at -37 percent versus -45 percent in February.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174138/
GOLD Outlook: XAU/USD Sideways Consolidation Gearing Up for Breakout
Euro (EUR/USD) Price Outlook - Sellers Remain in Control as Support Breaks
British Pound (GBP) Latest: EUR/GBP Outlook More Positive, Further Gains Possible
*Ireland Mar Consumer Confidence 77.1 Vs. 70.8 In February
Ireland Mar Consumer Confidence 77.1 Vs. 70.8 In February
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174137/
Dow Jones, Russell 2000 Probing Key Support as Reopening Trade Unwinds
Gold Price Trend Points Lower, Crude Oil Rebound May Fizzle
Hong Kong Trade Data Due On Thursday
Hong Kong will on Thursday release February figures for imports, exports and trade balance, highlighting a light day for Asia-Pacific economic activity.
In January, imports were up 37.7 percent on year and exports surged an annual 44 percent for a trade deficit of HKD25.2 billion.
Thailand will provide February numbers for industrial production, with forecasts suggesting an increase of 0.6 percent on year following the 2.8 percent contraction in January.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174136/
Nasdaq Fell While Oil Gained, Nikkei 225 and ASX 200 Held Steady amid Tech Rout
Dollar Stays Firm Against Peers
The U.S. dollar was firm against most of its peers on Wednesday amid continued optimism about the pace of recovery in the U.S.
Worries about spikes in coronavirus cases and extension of lockdown measures in several parts of Europe weighed on euro.
The dollar index advanced to 92.61, gaining about 0.3%.
Against the Euro, the dollar firmed up to $1.1812, gaining 0.33%. The euro area private sector returned to growth in March underpinned by a record expansion in manufacturing as global demand continued to revive from the pandemic, survey results from IHS Markit showed.
The composite output index rose to an eight-month high of 52.5 in March from 48.8 in February. The reading was forecast to climb to 49.1. The score exceeded the neutral level of 50.0 for the first time since last September, suggesting expansion in the private sector.
The Pound Sterling weakened against the dollar, fetching $1.3680 per unit, about 0.52% less than Tuesday's close of $1.3751. Data from the Office for National Statistics said U.K. consumer price inflation slowed unexpectedly in February, easing to 0.4% from 0.7% in January. The rate was forecast to rise to 0.8%. Month-on-month, consumer prices edged up 0.1%, in contrast to January's 0.2% fall.
The Yen was weaker at 108.72 a dollar, compared to previous close of 108.58. The manufacturing sector in Japan continued to expand in March, and at a slightly faster pace, the latest survey from Jibun Bank showed on Wednesday with a manufacturing PMI score of 52.0.
That's up from 51.4 in February and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
The Aussie slid against the dollar, with the AUD-USD pair at $0.7580, dropping from $0.7824.
The Swiss franc was weaker at CHF 0.9357 a dollar, sliding from CHF 0.9340.
The Loonie was little changed at 1.2583 a dollar, compared to 1.2588 on Tuesday. Oil's rebound after previous session's sharp setback lifted the Loonie.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174135/
How to Research Stocks: A Step by Step Guide
Treasury Yields Extend Pullback Off Last Week's Highs
Treasuries moved higher over the course of the trading day on Wednesday, extending the upward move seen over the two previous sessions.
Bond prices showed a lack of direction in morning trading but climbed firmly into positive territory in the afternoon. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, fell 2.4 basis points to 1.614 percent.
With the continued drop on the day, the ten-year yield has tumbled by 14 basis points since reaching a fourteen-month intraday high last Thursday.
The continued strength among treasuries was partly attributed to comments from Federal Reserve Chair Jerome Powell, who told lawmakers he is not worried by the recent jump in yields.
"It seems that rates have responded to news about vaccination and ultimately about growth. So higher growth, higher inflation, lower cases about Covid," Powell told the Senate Banking Committee. "In effect there's been an underlying sense of an improved economic outlook."
The advance by treasuries seen in afternoon trading came even though the Treasury Department revealed this month's auction of $61 billion worth of five-year notes attracted slightly below average demand.
The five-year note auction drew a high yield of 0.850 percent and a bid-to-cover ratio of 2.36, while the ten previous five-year note auctions had an average bid-to-cover ratio of 2.41.
The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.
The Treasury revealed on Tuesday that this month's auction of $60 billion worth of two-year notes attracted average demand.
On the U.S. economic front, the Commerce Department released a report showing new orders for U.S. manufactured durable goods unexpectedly decreased in the month of February.
The Commerce Department said durable goods orders slumped by 1.1 percent in February after spiking by an upwardly revised 3.5 percent in January.
The pullback came as a surprise to economists, who had expected durable goods orders to climb by 0.8 percent compared to the 3.4 percent jump that had been reported for the previous month.
Excluding a steep drop in orders for transportation equipment, durable goods orders still fell by 0.9 percent in February after surging up by 1.6 percent in January. Economists had expected a 0.6 percent increase.
The data follows the recent release of disappointing reports on retail sales, industrial production and home sales, although the weakness is largely seen as the result of severe winter storms.
Looking ahead, the Treasury is due to announce the result of its auction of $62 billion worth of seven-year notes on Thursday.
Trading on Thursday may also be impacted by reaction to the Labor Department's report on initial jobless claims in the week ended March 20th.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2174133/