*Japan May Consumer Confidence 34.1 Vs. 34.7 In April

Japan May Consumer Confidence 34.1 Vs. 34.7 In April

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

source http://www.mt5.com/forex_news/quickview/2177418/

*Malaysia Apr Producer Prices +0.8% On Month Vs. +0.7% In March

Malaysia Apr Producer Prices +0.8% On Month Vs. +0.7% In March

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

source http://www.mt5.com/forex_news/quickview/2177417/

*Malaysia Apr Producer Prices +10.6% On Year Vs. +6.7% In March

Malaysia Apr Producer Prices +10.6% On Year Vs. +6.7% In March

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

source http://www.mt5.com/forex_news/quickview/2177416/

*Dutch Apr +9.6% On Year Vs. +6.7% In March

Dutch Apr +9.6% On Year Vs. +6.7% In March

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

source http://www.mt5.com/forex_news/quickview/2177415/

GBP/USD Weekly Forecast: BoE Hawks vs UK Reopening Concerns

GBP/USD on the front foot to close the week. Bulls aim for YTD peak, while EUR/GBP range is maintained.

GBP/USD Weekly Forecast: BoE Hawks vs UK Reopening Concerns

GBP/USD on the front foot to close the week. Bulls aim for YTD peak, while EUR/GBP range is maintained. Via DailyFX - Market News https://ift.tt/32vveVH

Australia Private Sector Credit Gains 0.2% On Month In April

Private sector credit in Australia was up 0.2 percent on month in April, the Reserve Bank of Australia said on Monday - slowing from the 1.0 percent gain in March.

On a yearly basis, credit gained 1.3 percent, accelerating from 0.4 percent in the previous month.

Housing credit was up 0.5 percent on month and 4.4 percent on year, while personal credit was flat on month and sank 7.8 percent on year and business credit fell 0.3 percent on month and 3.0 percent on year.

Broad money rose 0.2 percent on month and 6.8 percent on year.

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

source http://www.mt5.com/forex_news/quickview/2177414/

Crude Oil Prices Eye Key Chart Resistance with OPEC+ Meeting in Focus

Crude oil prices are hovering near a key chart resistance as traders await an OPEC+ meeting scheduled on June 1st. Iranian sanctions remain a wildcard as nuclear talks may cloud the supply outlook. Via DailyFX - Market News https://ift.tt/32vveVH

China Manufacturing PMI Eases To 51.0 In May - NBS

The manufacturing sector in China continued to expand in May, albeit at a slower pace, the latest survey from the National Bureau of Statistics showed on Monday with a manufacturing PMI score of 51.0.

That was shy of expectations for 51.1, which would have been unchanged from the April reading. It does, however, remain well above the boom-or-bust line of 50 that separates expansion from contraction.

The bureau also said its non-manufacturing PMI came in with a score of 55.2, beating forecasts for 54.9, which would have been unchanged from the previous month's reading.

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

source http://www.mt5.com/forex_news/quickview/2177413/

*China Manufacturing PMI 51.0 In May; Non-Manufacturing PMI 55.2 - NBS

China Manufacturing PMI 51.0 In May; Non-Manufacturing PMI 55.2 - NBS

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

source http://www.mt5.com/forex_news/quickview/2177412/

Japan Industrial Production Climbs 2.5% On Month In April

Industrial output in Japan was up 2.5 percent on month in April, the Ministry of Economy, Trade and Industry said on Monday.

That missed expectations for an increase of 4.1 percent following the downwardly revised 1.7 percent gain in March (originally 2.2 percent).

On a yearly basis, industrial production jumped 15.4 percent, beating forecasts for 13.0 percent following the 3.4 percent increase 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 increase included business-oriented machinery, electrical machinery and production machinery. Industries that contributed to the decrease included motor vehicles, transport equipment and plastic products.

Shipments were up 2.6 percent on month and 15.7 percent on year, thanks to support from electrical machinery, production machinery and business-oriented machinery. Inventories were down 0.1 percent on month and 9.8 percent on year thanks to declines among chemicals, electrical machinery and other manufacturing.

According to the METI's forecast of industrial production, output is expected to slip 1.7 percent in May and climb 5.0 percent in June.

Contributing to the decline in May are transport equipment, others and paper products. Contributing to the rebound in June are transport equipment, others and fabricated metals.

Also on Monday, the METI said that the total value of retail sales in Japan was down a seasonally adjusted 4.5 percent on month in April, coming in at 12.200 trillion yen.

That missed expectations for a gain of 2.0 percent following the 1.2 percent increase in March.

On a yearly basis, retail sales climbed 12.0 percent - again missing expectations for 15.3 percent after rising 5.2 percent in the previous month.

Wholesale sales were down 0.9 percent on month and up 11.7 percent on year at 33.289 trillion yen, while commercial sales sank 2.1 percent on month and gained 11.8 percent on year at 45.489 trillion yen.

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

source http://www.mt5.com/forex_news/quickview/2177411/

Japan Retail Sales Drop 4.5% In April

The total value of retail sales in Japan was down a seasonally adjusted 4.5 percent on month in April, the Ministry of Economy, Trade and Industry said on Monday - coming in at 12.200 trillion yen.

That missed expectations for a gain of 2.0 percent following the 1.2 percent increase in March.

On a yearly basis, retail sales climbed 12.0 percent - again missing expectations for 15.3 percent after rising 5.2 percent in the previous month.

Wholesale sales were down 0.9 percent on month and up 11.7 percent on year at 33.289 trillion yen, while commercial sales sank 2.1 percent on month and gained 11.8 percent on year at 45.489 trillion yen.

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

source http://www.mt5.com/forex_news/quickview/2177410/

Japan Industrial Output Gains 2.5% On Month In April

Industrial production in Japan rose 2.5 percent on month in April, the Ministry of Economy, Trade and Industry said on Monday.

That was shy of expectations for an increase of 4.1 percent following the downwardly revised 1.7 percent gain in March (originally 2.2 percent).

On a yearly basis, industrial production jumped 15.4 percent, beating forecasts for 13.0 percent following the 3.4 percent increase 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/2177409/

*Japan Retail Sales -4.5% On Month, +12.0% On Year In April

Japan Retail Sales -4.5% On Month, +12.0% On Year In April

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

source http://www.mt5.com/forex_news/quickview/2177407/

*Japan Industrial Production +2.5% On Month, +15.4% On Year In April

Japan Industrial Production +2.5% On Month, +15.4% On Year In April

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

source http://www.mt5.com/forex_news/quickview/2177408/

South Korea Industrial Production Drops 1.6% In April

Industrial output in South Korea slipped a seasonally adjusted 1.6 percent on month in April, Statistics Korea said on Monday.

That missed expectations for an increase of 1.5 percent following the downwardly revised 0.9 percent contraction in March (originally -0.8 percent).

On a yearly basis, industrial production jumped 12.4 percent - beating forecasts for a gain of 11.2 percent following the downwardly revised 4.4 percent increase in the previous month (originally 4.7 percent).

The index of all industry production was down 1.1 percent on month and up 8.8 percent on year in April.

The Manufacturing Production Index fell 1.7 percent on month but jumped 13.0 percent on year. The Manufacturing Shipment Index slid 0.9 percent on month climbed 13.5 percent on year. The Manufacturing Inventory Index eased 0.1 percent on month and 4.2 percent on year.

The Production Capacity Index shed 0.3 percent on month but increased 1.4 percent on year. The Index of Capacity Utilization Rate lost 1.4 percent on month but spiked 11.0 percent on year.

The Manufacturing Average Capacity Utilization Rate was 73.8 percent, down 1.1 percentage points from the previous month. The Index of Services rose 0.4 percent on month and 8.4 percent on year.

The Retail Sales Index gained 2.3 percent on month and 8.6 percent on year. The Equipment Investment Index added 3.5 percent on month and 16.8 percent on year.

The Domestic Machinery Shipment Index climbed 5.1 percent on year, while the value of Domestic Machinery Orders Received jumped 16.4 percent on year.

The value of Construction Completed at constant prices shed 0.8 percent on month and 1.8 percent on year. The value of Construction Orders Received at current prices skyrocketed 84.2 percent on year.

The Composite Coincident Index advanced 1.1 percent on month. The Cyclical Component of Composite Coincident Index, which reflects current economic situations, increased 1.1 points on month.

The Composite Leading Index rose 0.7 percent on month. The Cyclical Component of Composite Leading Index, which predicts the turning point in business cycle, increased by 0.4 points from the previous month.

Also on Monday, Statistics Korea said that the value of retail sales in South Korea was up a seasonally adjusted 2.3 percent on month in April. That was in line with expectations and was unchanged from the March reading.

On a yearly basis, retail sales jumped 8.6 percent - shy of expectations for 9.0 percent and down from 10.9 percent in the previous month.

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

source http://www.mt5.com/forex_news/quickview/2177406/

Gold Prices Hit Four-Month High as US Dollar, Bond yields Retreat

Gold prices climbed to a four-month high as a weaker US Dollar and falling longer-dated Treasury yields bolstered the appeal of the yellow metal. ETF inflows decelerated last week. Via DailyFX - Market News https://ift.tt/32vveVH

South Korea Retail Sales Advance 2.3% In April

The value of retail sales in South Korea was up a seasonally adjusted 2.3 percent on month in April, Statistics Korea said on Monday.

That was in line with expectations and was unchanged from the March reading.

On a yearly basis, retail sales jumped 8.6 percent - shy of expectations for 9.0 percent and down from 10.9 percent in the previous month.

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

source http://www.mt5.com/forex_news/quickview/2177405/

South Korea Industrial Output Sinks 1.6% In April

Industrial production in South Korea was down a seasonally adjusted 1.6 percent on month in April, Statistics Korea said on Monday.

That was shy of expectations for an increase of 1.5 percent following the downwardly revised 0.9 percent contraction in March (originally -0.8 percent).

On a yearly basis, industrial production jumped 12.4 percent - beating forecasts for a gain of 11.2 percent following the downwardly revised 4.4 percent increase in the previous month (originally 4.7 percent).

The index of all industry production was down 1.1 percent on month and up 8.8 percent on year in April.

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

source http://www.mt5.com/forex_news/quickview/2177404/

*South Korea Retail Sales +2.3% On Month, +8,6% On Year In April

South Korea Retail Sales +2.3% On Month, +8,6% On Year In April

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

source http://www.mt5.com/forex_news/quickview/2177403/

*South Korea Industrial Production -1.6% On Month, +12.4% On Year In April

South Korea Industrial Production -1.6% On Month, +12.4% On Year In April

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

source http://www.mt5.com/forex_news/quickview/2177402/

Japan Data Due On Monday

Japan is scheduled to release a raft of data on Monday, headlining a busy day for Asia-Pacific economic activity. On tap are April figures for industrial production, retail sales, housing starts and construction orders, as well as May numbers for its consumer confidence index.

In March, industrial production was up 2.2 percent on month and 3.4 percent on year, while retail sales gained 1.2 percent on month and 5.2 percent on year. Housing starts added an annual 1.5 percent and construction orders climbed 12.5 percent. In April, the consumer confidence index score was 34.7.

Australia will see April figures for private sector credit; in March, credit was up 1.0 percent on month and 0.4 percent on year.

South Korea will provide April numbers for industrial production, manufacturing production and retail sales.

Industrial production is forecast to gain 1.5 percent on month and 11.2 percent on year after slipping 0.8 percent on month and rising 4.7 percent on year in March. Manufacturing production also gained 4.7 percent on year in March and retail sales were up 2.3 percent on month and 10.9 percent on year.

Singapore will release April data for bank lending; in March, lending was worth SGD691.2 billion.

China will see May results for its manufacturing and non-manufacturing PMIs; in Aril, their scores were 51.1 and 54.9, respectively.

Thailand will provide April numbers for industrial production, retail sales, current account and its coincident index. In March, industrial production was up 4.12 percent on year, retail sales rose 0.2 percent on year, the current account deficit was $0.8 billion and the coincident index score was 127.2.

Finally, the markets in Malaysia are closed on Monday for the Harvest Festival and will re-open on Tuesday.

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

source http://www.mt5.com/forex_news/quickview/2177401/

Dow Jones, Hang Seng, ASX 200 Outlook: Chinese Manufacturing PMI in Focus

Wall Street stocks shrugged off higher-than-expected core PCE inflation data. The Russell 2000 retreated as AMC Entertainment pulled back. Asia-Pacific investors are eyeing Chinese PMI today. Via DailyFX - Market News https://ift.tt/32vveVH

Markets Week Ahead: Dow, Euro, Dollar, Oil, Bitcoin, RBA Decision, NFPs

Markets were rather uneventful last week with volatility cooling off as we head into the lull of summer, but event risk on the horizon looks plentiful. What's in store for the week ahead?

Markets Week Ahead: Dow, Euro, Dollar, Oil, Bitcoin, RBA Decision, NFPs

Markets were rather uneventful last week with volatility cooling off as we head into the lull of summer, but event risk on the horizon looks plentiful. What's in store for the week ahead? Via DailyFX - Market News https://ift.tt/32vveVH

Stock Market Forecast for the Week Ahead: The Summer Doldrums Approach

Seasonality may work to slow stock market price action as a drawdown in volume and volatility seep into the market. The major indices have already begun to show symptoms of range-bound price action.

Stock Market Forecast for the Week Ahead: The Summer Doldrums Approach

Seasonality may work to slow stock market price action as a drawdown in volume and volatility seep into the market. The major indices have already begun to show symptoms of range-bound price action. Via DailyFX - Market News https://ift.tt/32vveVH

How to Research Stocks: A Step by Step Guide

Do you know how to research stocks? Keep reading for insights and tools to supplement your stock investing strategy. Via DailyFX - Market News https://ift.tt/32vveVH

Euro Forecast: EUR/USD Price Outlook Positive, Well Placed For More Gains

EUR/USD remains in an uptrend and is in a good position to reach the 1.23 level and then new highs for the year to date as the Eurozone economy improves and coronavirus cases drop.

Euro Forecast: EUR/USD Price Outlook Positive, Well Placed For More Gains

EUR/USD remains in an uptrend and is in a good position to reach the 1.23 level and then new highs for the year to date as the Eurozone economy improves and coronavirus cases drop. Via DailyFX - Market News https://ift.tt/32vveVH

Gold Forecast Bright on Weak USD; Silver Eyes Multi-Year High

Gold price action advanced for its fourth-week straight as silver soared to multi-year highs thanks to a stubbornly weak US Dollar. Will gold and silver prices rise further or will Fed hawks stymie...

Gold Forecast Bright on Weak USD; Silver Eyes Multi-Year High

Gold price action advanced for its fourth-week straight as silver soared to multi-year highs thanks to a stubbornly weak US Dollar. Will gold and silver prices rise further or will Fed hawks stymie... Via DailyFX - Market News https://ift.tt/32vveVH

Weekly Fundamental US Dollar Forecast: Inflation Fears Linger; May US NFP Due Friday

The ongoing erosion of US real yields, thanks to rising inflation expectations and stagnant US Treasuries, has proved to be a negative influence on US Dollar.

Weekly Fundamental US Dollar Forecast: Inflation Fears Linger; May US NFP Due Friday

The ongoing erosion of US real yields, thanks to rising inflation expectations and stagnant US Treasuries, has proved to be a negative influence on US Dollar. Via DailyFX - Market News https://ift.tt/32vveVH

NFP and Forex: What is NFP and How to Trade It?

Non-farm payroll figures are highly anticipated by forex traders. Find out how they affect trading. Via DailyFX - Market News https://ift.tt/32vveVH

Bitcoin (BTC), Ethereum (ETH), Alt-Coins - Beware of Weekend Volatility

The 24/7 cryptocurrency market needs to monitored closely over the coming long weekend with volatility levels still high

Bitcoin (BTC), Ethereum (ETH), Alt-Coins - Beware of Weekend Volatility

The 24/7 cryptocurrency market needs to monitored closely over the coming long weekend with volatility levels still high Via DailyFX - Market News https://ift.tt/32vveVH

Australian Dollar Forecast: AUD/USD May Wilt on RBA, Falling Iron Ore Prices

The Australian Dollar may struggle as the RBA further hints at rolling the yield target to the November 2024 bond. AUD/USD remains vulnerable to falling copper and iron ore prices.

Australian Dollar Forecast: AUD/USD May Wilt on RBA, Falling Iron Ore Prices

The Australian Dollar may struggle as the RBA further hints at rolling the yield target to the November 2024 bond. AUD/USD remains vulnerable to falling copper and iron ore prices. Via DailyFX - Market News https://ift.tt/32vveVH

Dollar Gains Against Major Counterparts On Strong Data

The U.S. dollar gained against its major rivals on Friday, buoyed by strong economic data.

An inflation reading preferred by the Federal Reserve showed an acceleration in the pace of price growth but not as much as traders had feared.

The reading on core consumer prices showed the pace of price growth accelerated to 3.1% in April from 1.9% in March. While the increase in prices exceeded economist estimates, the jump was apparently not as severe as to raised concerns about the Federal Reserve tightening monetary policy.

The Fed has attributed the recent increase in prices to "transitory factors" and has repeatedly hinted that it will not consider tightening until prices exceed 2% for "some time."

Data from the Commerce Department showed that U.S. core personal consumption expenditures index rose 0.7% on month in April following a 0.4% increase in March. The PCE price index grew 0.6% in April, same as seen in the previous month.

Personal income plunged by 13.1% in April, after rising by a revised 20.9% in March. Economists had expected personal income to drop by 14.2%.

The University of Michigan's consumer sentiment for the US was revised slightly higher to 82.9 in May of 2021 from a preliminary 82.8, matching market forecasts. The reading still pointed to the lowest consumer confidence level in 3 months.

The dollar index, which rose to 90.44 in the European session, later dropped to 89.98 before recovering to 90.07, netting a gain of about 0.11%.

Against the Euro, the dollar firmed to $1.2133 but pared gains and eased to $1.2192, netting just a marginal gain. The European Commission's economic sentiment index strongly to 114.5 in May, up from 110.5 in April, and above expectations for a score of 112.1.

The Pound Sterling weakened a bit against the dollar, fetching $1.4192 a unit, compared with $1.4203 Thursday evening.

The Yen firmed to 109.85 a dollar, down just marginally, after having weakened to 110.20 earlier in the day.

The Aussie weakened against the dollar, losing more than 0.5% as the AUD-USD traded at 0.7707.

Against Swiss franc, the dollar was quite stronger, fetching CHF 0.8999, about 0.35% up from the previous close. Switzerland's economic outlook remained very positive in May, driven by manufacturing and exports, survey data by the KOF economic institute showed Friday.

The KOF Economic Barometer climbed to a new record high of 143.2 point from 136.4 in April, which was revised from 134.0. Economists had forecast a score of 136. The reading is well above its long-term average.

The Loonie was weaker at C$1.2076 a dollar, down 0.08% from Thursday's close.

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

source http://www.mt5.com/forex_news/quickview/2177400/

Oil Futures Snap 5-day Winning Streak, Settle Lower For The Day

Crude oil futures settled lower on Friday, snapping a five-day winning streak, as traders took some profits and looked ahead to the upcoming meeting of the Organization of the Petroleum Exporting Countries (OPEC) and its allies.

OPEC and its allies, collectively known as OPEC+, will meet on June 1 to consider the current oil market situation and decide on production levels. It is widely expected that the members will agree on a production hike as earlier proposed.

West Texas Intermediate Crude oil futures for July ended down by $0.53 or about 0.8% at $66.32 a barrel. WTI crude futures gained more than 4% in the week.

Brent crude futures were down $0.38 or 0.54% at $68.82 a barrel a little while ago.

Recent data from Energy Information Administration (EIA) that showed a larger than expected drop in crude inventories in the week ended May 21st helped limit oil's downside today.

Data released by Baker Hughes showed U.S. rigs drilling for oil increased by 3 to 359 this week, rising for a fourth consecutive week. The total active U.S. rig count, including those drilling for natural gas, climbed by 2 to 457.

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

source http://www.mt5.com/forex_news/quickview/2177399/

Gold Futures Settle Modestly Higher

Gold prices moved higher on Friday, after data showed the increase in consumer prices in the month of April was not as severe as to raise concerns about any policy tightening by the central bank.

The dollar pared its gains but still held on in positive territory, thus limiting gold's upside.

The dollar index, which rose to 90.44 by mid morning, dropped to 89.98. It was last seen at 90.03, up 0.06% from the previous close.

Gold futures for August ended up by $6.80 or about 0.4% at $1,905.30 an ounce, the highest close since January 7. On Thursday, the contract shed 0.3%, after scoring gains in the previous three sessions.

Gold futures gained about 1.5% in the week, and climbed 7.8% in the month.

Silver futures for July gained $0.074 or 0.3%, settling at $28.014 an ounce today. Silver futures gained nearly 2% this week, and added 8.3% in the month.

Copper futures for July settled at $4.6775 per pound, gaining $0.0145 or 0.3%. Copper futures gained about 4.4% in the week and 4.7% in the month.

An inflation reading preferred by the Federal Reserve showed an acceleration in the pace of price growth but not as much as traders had feared.

The reading on core consumer prices showed the pace of price growth accelerated to 3.1% in April from 1.9% in March.

While the increase in prices exceeded economist estimates, the jump was apparently not as severe as to raised concerns about the Federal Reserve tightening monetary policy.

The Fed has attributed the recent increase in prices to "transitory factors" and has repeatedly hinted that it will not consider tightening until prices exceed 2% for "some time."

The University of Michigan's consumer sentiment for the US was revised slightly higher to 82.9 in May of 2021 from a preliminary 82.8, matching market forecasts. The reading still pointed to the lowest consumer confidence level in 3 months.

Personal income in the US decreased 13.1% month-over-month in April of 2021, compared to market expectations of a 14.1% drop and after jumping by a revised 20.9% in March. Personal spending in the United States rose 0.5% from a month earlier in April 2021, following an upwardly revised 4.7% rise in March.

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

source http://www.mt5.com/forex_news/quickview/2177398/

*Malaysia Apr Trade Surplus MYR 20.5 Bln, Consensus MYR 18.8 Bln

Malaysia Apr Trade Surplus MYR 20.5 Bln, Consensus MYR 18.8 Bln

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

source http://www.mt5.com/forex_news/quickview/2177303/

*Malaysia Apr Exports Surge 63.0% On Year, Consensus 22.9%

Malaysia Apr Exports Surge 63.0% On Year, Consensus 22.9%

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

source http://www.mt5.com/forex_news/quickview/2177301/

*Malaysia Apr Imports Rise 24.4% Annually, Consensus 18%

Malaysia Apr Imports Rise 24.4% Annually, Consensus 18%

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

source http://www.mt5.com/forex_news/quickview/2177302/

European Economics Preview: Eurozone Economic Confidence Data Due

Economic confidence from euro area and flash consumer prices from France are due on Friday, headlining a busy day for the European economic news.

At 2.00 am ET, Destatis is slated to issue Germany's import prices for April. Import price inflation is forecast to rise to 10 percent from 6.9 percent in March. At 2.45 am ET, France's statistical office Insee publishes flash consumer prices, detailed GDP data, consumer spending and producer prices. Consumer price inflation is expected to climb to 1.4 percent in May from 1.2 percent in April.

At 3.00 am ET, retail sales from Spain and producer prices from Austria are due. Also, Swiss KOF leading indicator data is due.

Half an hour later, Statistics Sweden is scheduled to issue GDP, retail sales and household lending figures.

At 4.00 am ET, Italy's Istat releases producer prices for April. Prices had increased 2.7 percent on year in March.

Also, consumer prices from Poland and unemployment data from Norway are due.

At 5.00 am ET, European Commission is set to publish euro area economic confidence survey results for May. The economic sentiment index is forecast to climb to 112.1 in May from 110.3 in the previous month.

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

source http://www.mt5.com/forex_news/quickview/2177300/

Gold Price Rise May Fizzle as US PCE Data Beckons Fed Action

Gold prices may turn lower having stalled near the $1900/oz figure if US PCE data registers hotter inflation than expected, beckoning the Fed to rethink its stimulus programs. Via DailyFX - Market News https://ift.tt/32vveVH

*Estonia April Retail Sales Up 23.0% Y/Y, 12.0% M/M

Estonia April Retail Sales Up 23.0% Y/Y, 12.0% M/M

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

source http://www.mt5.com/forex_news/quickview/2177299/

*Finland Q1 GDP -0.1% On Quarter Vs. +0.4% In Q4

Finland Q1 GDP -0.1% On Quarter Vs. +0.4% In Q4

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

source http://www.mt5.com/forex_news/quickview/2177298/

*Finland Q1 GDP -1.0% On Year Vs. -1.1% In Q4

Finland Q1 GDP -1.0% On Year Vs. -1.1% In Q4

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

source http://www.mt5.com/forex_news/quickview/2177297/

*Dutch May Producer Confidence 8.8 Vs. 6.5 In April

Dutch May Producer Confidence 8.8 Vs. 6.5 In April

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

source http://www.mt5.com/forex_news/quickview/2177296/

British Pound (GBP) Outlook Remains Positive Going Into The Long Weekend

The British Pound remains bid going into the long weekend after hawkish commentary from Bank of England policymaker Gertjan Vlieghe Via DailyFX - Market News https://ift.tt/32vveVH

Japan Jobless Rate Climbs To 2.8% In April

The unemployment rate in Japan came in at a seasonally adjusted 2.8 percent in April, the Ministry of Communications and Internal Affairs said on Friday.

That was above expectations for 2.7 percent and was up from 2.6 percent in March.

The job-to-applicant ratio was 1.09 - again missing forecasts for 1.10, which would have been unchanged from the previous month.

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

source http://www.mt5.com/forex_news/quickview/2177295/

Tokyo Overall Inflation Falls 0.4% On Year In May

Overall consumer prices in Tokyo were down 0.4 percent on year in May, the Ministry of Communications and Internal Affairs said on Friday - following the 0.6 percent decline in April.

Core CPI was down an annual 0.2 percent - unchanged and in line with expectations.

Individually, prices were down for food, fuel, medical care and transportation; prices were higher for housing, furniture, clothing, education and recreation.

On a seasonally adjusted monthly basis, overall inflation and core CPI were both higher by 0.3 percent.

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

source http://www.mt5.com/forex_news/quickview/2177294/

*Tokyo Overall Inflation -0.4% On Year In May; Core CPI -0.2%

Tokyo Overall Inflation -0.4% On Year In May; Core CPI -0.2%

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

source http://www.mt5.com/forex_news/quickview/2177293/

Why a Rise in Retail Trading May Signal Another Mania

The Fed and government’s support has altered how Americans think of saving versus investing. This is acting to kindle ‘animal spirits,’ in every sense of the Keynesian fashion. Via DailyFX - Market News https://ift.tt/32vveVH

*Japan Unemployment Rate 2.8% In April

Japan Unemployment Rate 2.8% In April

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

source http://www.mt5.com/forex_news/quickview/2177292/

Euro Technical Outlook: EUR/USD, EUR/CHF Chart Levels

EUR/USD and EUR/CHF are in sensitive technical positions as the month draws to a close. Where to next? Via DailyFX - Market News https://ift.tt/32vveVH

Japan Unemployment Data Due On Friday

Japan will on Friday release April figures for unemployment, highlighting a light day for Asia-Pacific economic activity.

The jobless rate is tipped to rise to 2.7 percent from 2.6 percent in March, while the jobs-to-applicant ratio is called steady at 1.10.

Japan also will see May results for Tokyo inflation, which is considered a leading indicator for the nationwide trend. In April, Tokyo overall inflation was down 0.6 percent on year and core CPI dipped 0.2 percent.

Singapore will provide April figures for import and export prices, as well as producer prices. In March, import prices were up 8.3 percent on year and export prices gained an annual 3.5 percent, while producer prices jumped 9.6 percent on year.

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

source http://www.mt5.com/forex_news/quickview/2177291/

Nasdaq 100 Retreats as Reddit Retail Frenzy Returns, Hang Seng Index May Climb

The Nasdaq 100 index pulled back as small-cap stocks outperformed larger ones. Reddit traders pushed AMC Entertainment 35% higher. APAC markets look set to open steadily following strong US jobs data. Via DailyFX - Market News https://ift.tt/32vveVH

Dollar Turns In Lackluster Performance Against Major Rivals

The U.S. dollar turned in a lackluster performance against its peers on Thursday as traders reacted to a slew of economic data from the U.S. and Europe, and reacted to comments from BoE policymaker about a likely hie in UK interest rate next year.

Data released by the Labor Department showed initial jobless claims in the U.S. slid to 406,000 in the week ended May 22nd, a decrease of 38,000 from the previous week's unrevised level of 444,000. Economists had expected jobless claims to dip to 425,000.

Jobless claims decreased for the fourth consecutive week, once again falling to their lowest level since hitting 256,000 in the week ended March 14, 2020.

A report from the Commerce Department showed an unexpected pullback in durable goods orders in April, although the decrease was largely due to a steep drop in orders for transportation equipment.

The report showed durable goods orders tumbled by 1.3% in April after jumping by an upwardly revised 1.3% in March. Economists had expected durable goods orders to climb by 0.7% in April.

The Commerce Department also released a report showing the pace of U.S. economic growth in the first quarter was unrevised from the advance estimate.

The report showed real gross domestic product spiked by 6.4% in the first quarter, unchanged from the estimate provided last month. Economists had expected a modest upward revision in the pace of GDP growth to 6.5%.

The dollar index, which briefly emerged into positive territory after data showed another drop in weekly U.S. jobless claims, retreated again in late morning trades. Despite a subsequent recovery, it faltered again as the session progressed.

The dollar index was last seen hovering around 90.00, down marginally from the previous close. The index touched a low of 89.89 before the release of jobless claims data.

Against the Euro, the dollar was flat at $1.2197 a little while ago. Earlier, after sliding to $1.2217 a unit of Euro, the dollar recovered to $1.2175 before sliding again.

The Pound Sterling gained against other major currencies after a Bank of England policymaker hinted at a rate hike next year, though it could happen earlier if the economy rebounds quickly.

Speaking at the University of Bath, Gertjan Vlieghe said "the first rise in bank rate is likely to become appropriate only well into next year, with some modest further tightening thereafter".

The dollar weakened to $1.4219 a unit of Sterling, before recovering to $1.4201, still down by about 0.6%.

The Yen weakened to 109.83 a dollar, giving up more than 0.6%.

Against the Aussie, the dollar was flat with the AUD-USD at 0.7743.

The Swiss franc strengthened against the dollar, firming to 0.8968, from Wednesday's close of 0.8982 a dollar. Data from the Federal Customs Administration showed Switzerland's exports increased by a real 0.1% month-on-month in April, after a 5.1% growth in March. Imports rose 2.2% monthly in April, after a 3.7% increase in the previous month.

The Loonie was stronger by nearly 0.5% at C$1.2066 a dollar, gaining from C$1.2123.

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

source http://www.mt5.com/forex_news/quickview/2177290/

Bitcoin (BTC) Analysis: Price Remains Vulnerable Despite Recent Bounce

Bitcoin appears to have settled down following a wave of panic selling and forced liquidations, but the cryptocurrency remains vulnerable in the near-term. Via DailyFX - Market News https://ift.tt/32vveVH

Treasuries Move To The Downside As Jobless Claims Continue To Decline

After ending the previous session slightly lower, treasuries saw further downside over the course of the trading day on Thursday.

Bond prices saw initial weakness and remained firmly negative throughout the session. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, rose by 3.6 basis points to 1.610 percent.

The weakness among treasuries came after the Labor Department released a report showing weekly jobless claims once again fell to a new pandemic-era low.

The Labor Department said initial jobless claims slid to 406,000 in the week ended May 22nd, a decrease of 38,000 from the previous week's unrevised level of 444,000. Economists had expected jobless claims to dip to 425,000.

Jobless claims decreased for the fourth consecutive week, once again falling to their lowest level since hitting 256,000 in the week ended March 14, 2020.

A separate report from the Commerce Department showed an unexpected pullback in durable goods orders in April, although the decrease was largely due to a steep drop in orders for transportation equipment.

The report showed durable goods orders tumbled by 1.3 percent in April after jumping by an upwardly revised 1.3 percent in March.

The pullback surprised economists, who had expected durable goods orders to climb by 0.7 percent compared to the 0.8 percent increase that had been reported for the previous month.

Excluding a 6.7 percent slump in orders for transportation equipment, however, durable goods orders shot up by 1.0 percent in April after spiking by 3.2 percent in March. Economists had expected 0.8 percent growth.

The Commerce Department also released a report showing the pace of U.S. economic growth in the first quarter was unrevised from the advance estimate.

The report showed real gross domestic product spiked by 6.4 percent in the first quarter, unchanged from the estimate provided last month. Economists had expected a modest upward revision in the pace of GDP growth to 6.5 percent.

Meanwhile, a report released by the National Association of Realtors showed pending home sales in the U.S. unexpectedly tumbled to their lowest level in nearly a year in the month of April.

Trading on Friday is likely to be driven by reaction to the reading on inflation included in the Commerce Department's report on personal income and spending.

The inflation reading is said to be preferred by the Federal Reserve and could have a significant impact on the outlook for monetary policy.

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

source http://www.mt5.com/forex_news/quickview/2177289/

Oil Futures Settle Higher For 5th Straight Session

Crude oil prices moved higher on Thursday, extending gains to a fifth straight session, riding on recent data showing a drop in U.S. crude inventories, strong U.S. employment data and amid optimism about increased demand in the U.S. and Europe.

Oil prices drifted down earlier in the day as traders continued to closely follow the developments with regard to negotiations over the Iran nuclear deal.

West Texas Intermediate Crude oil futures for July ended up by $0.64 or about 1% at $66.85 a barrel.

Brent crude futures were up by $0.43 or 0.63% at $69.16 a barrel a little while ago.

Iran and world powers are in talks in Vienna, discussing about reviving the 2015 nuclear deal, formally known as the Joint Comprehensive Plan of Action. According to recent reports, the latest round of talks was constructive and the two parties made meaningful progress.

Meanwhile, the Organization of the Petroleum Exporting Countries and its allies are scheduled to meet next Wednesday (June 1), to discuss energy market conditions and the cartel's production policy.

Data released by the Labor Department said initial jobless claims in the U.S. slid to 406,000 in the week ended May 22nd, a decrease of 38,000 from the previous week's unrevised level of 444,000. Economists had expected jobless claims to dip to 425,000.

Jobless claims decreased for the fourth consecutive week, once again falling to their lowest level since hitting 256,000 in the week ended March 14, 2020.

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

source http://www.mt5.com/forex_news/quickview/2177288/

Gold Futures Snap 3-day Winning Streak, Settle Modestly Lower

Gold futures settled lower on Thursday after spending almost the entire session in negative territory with traders closely following a slew of economic data from the U.S., and tracking treasury yields and dollar movements.

However, a weak dollar limited gold's downside. The dollar index, which recovered to around 90.10 after falling to a low of 89.89, was down 0.1% at 89.96 a little while ago.

Federal Reserve Vice Chairman for Supervision Randal Quarles said Wednesday that he was prepared to open talks on reducing the emergency support measures if the economy continues to power out of the health crisis.

Friday's reading on inflation said to be preferred by the Fed, is likely to have a significant impact on the outlook for monetary policy.

Gold futures for August ended down by $5.30 or about 0.3% at $1,898.50 an ounce, losing ground after three successive days of gains.

Silver futures for July ended higher by $0.063 at $27.940 an ounce, while Copper futures for July settled at $4.6630 per pound, gaining $0.1335.

Data released by the Labor Department said initial jobless claims in the U.S. slid to 406,000 in the week ended May 22nd, a decrease of 38,000 from the previous week's unrevised level of 444,000. Economists had expected jobless claims to dip to 425,000.

Jobless claims decreased for the fourth consecutive week, once again falling to their lowest level since hitting 256,000 in the week ended March 14, 2020.

A report from the Commerce Department showed an unexpected pullback in durable goods orders in April, although the decrease was largely due to a steep drop in orders for transportation equipment. The report showed durable goods orders tumbled by 1.3% in April after jumping by an upwardly revised 1.3% in March. Economists had expected durable goods orders to climb by 0.7% in April.

The Commerce Department also released a report showing the pace of U.S. economic growth in the first quarter was unrevised from the advance estimate. The report showed real gross domestic product spiked by 6.4% in the first quarter, unchanged from the estimate provided last month. Economists had expected a modest upward revision in the pace of GDP growth to 6.5%.

Meanwhile, a report released by the National Association of Realtors showed pending home sales in the U.S. unexpectedly tumbled to their lowest level in nearly a year in the month of April.

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

source http://www.mt5.com/forex_news/quickview/2177287/

*Germany Jun GfK Consumer Confidence -7.0, Consensus -5.2: Reports

Germany Jun GfK Consumer Confidence -7.0, Consensus -5.2: Reports

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

source http://www.mt5.com/forex_news/quickview/2177213/

*China Apr Industrial Profits Surge 57% On Year

China Apr Industrial Profits Surge 57% On Year

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

source http://www.mt5.com/forex_news/quickview/2177211/

Franc Climbs Ahead Of Swiss Trade Data

At 2.00 am ET Thursday, foreign trade figures for Switzerland are due. Ahead of the data, the franc rose against its major counterparts.

The franc was worth 121.64 against the yen, 0.8967 against the greenback, 1.0936 against the euro and 1.2662 against the pound at 1:55 am ET.

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

source http://www.mt5.com/forex_news/quickview/2177212/

Euro Mixed Ahead Of German GfK Consumer Confidence Index

At 2.00 am ET Thursday, German GfK consumer confidence survey results are due. The forward-looking consumer sentiment index is forecast to rise to -5.2 in June from -8.8 in May.

The euro traded mixed against its major rivals before the data. While it rose against the greenback, it held steady against the pound and the yen. Against the franc, it dropped.

The euro was worth 133.04 against the yen, 1.2196 against the greenback, 1.0937 against the franc and 0.8637 against the pound at 1:55 am ET.

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

source http://www.mt5.com/forex_news/quickview/2177210/

*UK Apr Car Production -3.8% Below 2019 Output: SMMT

UK Apr Car Production -3.8% Below 2019 Output: SMMT

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

source http://www.mt5.com/forex_news/quickview/2177209/

European Economics Preview: Germany GfK Consumer Confidence Data Due

Consumer confidence survey results from Germany and Italy are due on Thursday, headlining a light day for the European economic news.

At 2.00 am ET, German GfK consumer confidence survey results are due. The forward-looking consumer sentiment index is forecast to rise to -5.2 in June from -8.8 in May.

In the meantime, foreign trade figures for Switzerland are due.

At 3.00 am ET, the National Institute of Economic Research is slated to publish Sweden economic tendency survey data for May.

Half an hour later, Statistics Sweden is set to issue foreign trade figures for April. The trade surplus is seen at SEK 5.6 billion versus SEK 4.1 billion in March.

At 4.00 am ET, IHS Markit releases Austria's manufacturing Purchasing Managers' survey results.

In the meantime, business and consumer sentiment survey results are due from Italy. The consumer confidence indicator is seen rising to 104.4 in May from 102.3 in April. The business sentiment index is expected to climb to 106.4 from 105.4 a month ago.

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

source http://www.mt5.com/forex_news/quickview/2177208/

Bitcoin (BTC), Ethereum (ETH), Alt-Coins - Recovery Remains Fragile, Volatility Stuck at Near-Extremes

The cryptocurrency market is gradually recovering from last week’s clear-out and further consolidation is needed to boost positive sentiment Via DailyFX - Market News https://ift.tt/32vveVH

*Finland May Industrial Confidence 13.0 Vs. 10.0 In April

Finland May Industrial Confidence 13.0 Vs. 10.0 In April

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

source http://www.mt5.com/forex_news/quickview/2177207/

*Finland May Consumer Confidence 2.7 Vs. 3.8 In April

Finland May Consumer Confidence 2.7 Vs. 3.8 In April

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

source http://www.mt5.com/forex_news/quickview/2177206/

Moving Average (MA) Explained for Traders

The Moving Average is a popular indicator for identifying trends. Learn how to use and interpret MA. Via DailyFX - Market News https://ift.tt/32vveVH

British Pound (GBP) Price Outlook: GBP/USD Challenging Support

GBP/USD is edging lower, with trendline and moving average support both being tested as the US Dollar firms on persistent talk that the Fed will soon start discussing a tightening of monetary policy. Via DailyFX - Market News https://ift.tt/32vveVH

US Dollar May Rise as Inflation Fears, Fed Outlook Hoard the Spotlight

The US Dollar may rise amid speculation that higher-than-expected inflation readings will prompt sooner-than-expected tapering of Fed monetary stimulus. Via DailyFX - Market News https://ift.tt/32vveVH

Australia Capex Jumps 6.3% On Quarter In Q1

The value of total new capital expenditure was up a seasonally adjusted 6.3 percent on quarter in the first three months of 2021, the Australian Bureau of Statistics said on Thursday - coming in at A$31.494 billion.

That beat forecasts for an increase of 2.0 percent following the 3.0 percent increase in the three months prior.

Capex for buildings and structures gained 3.8 percent on quarter to A$16.193 billion and capex for equipment, plants and machinery jumped 9.1 percent to A$15.301 billion.

On a yearly basis, overall capex was up 0.8 percent, buildings and structures sank 3.4 percent and equipment gained 5.6 percent.

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

source http://www.mt5.com/forex_news/quickview/2177205/

*Australia Private Capital Expenditure +6.3% On Quarter In Q1

Australia Private Capital Expenditure +6.3% On Quarter In Q1

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

source http://www.mt5.com/forex_news/quickview/2177204/

Crude Oil Prices Drop on APAC Viral Resurgence, Iranian Supply Worries

WTI prices pulled back slightly as markets weighed extended restrictions in Japan and renewed lockdowns in Australia’s Victoria state. Concerns about Iranian supply may also limit oil’s upside pote... Via DailyFX - Market News https://ift.tt/32vveVH

Gold Prices Pull Back From $1,900 as Stimulus Tapering Fears Gear Up

Gold prices retreated for a second day after the NBNZ hinted that it may start hiking rates next year, stoking fears about a wave of central bank tightening. The US Dollar and yields rebounded, wei... Via DailyFX - Market News https://ift.tt/32vveVH

South Korea Interest Rate Decision Due On Thursday

The Bank of Korea will wrap up its monetary policy meeting on Thursday and then announce its decision on interest rates, highlighting a light day for Asia-Pacific economic activity. The central bank is widely expected to keep its benchmark lending rate unchanged at 0.50 percent.

China will provide April figures for industrial profits; in March, profits skyrocketed 137 percent on year.

Hong Kong will release April numbers for imports, exports and trade balance. In March, imports were up 21.7 percent on year and exports climbed an annual 26.4 percent for a trade deficit of HKD27.0 billion.

Australia will see Q1 results for private capital expenditure, with forecasts suggesting an increase of 2.0 percent on quarter following the 3.0 percent gain in the previous three months.

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

source http://www.mt5.com/forex_news/quickview/2177203/

BTC/USD Recovery Halted on Iran Headlines, but Technicals Hint at More Upside

Bitcoin's recovery from the psychological 30,000 level was interrupted by negative headlines out of Iran. However, the cryptocurrency's technical posture suggest the ride higher may continue. Via DailyFX - Market News https://ift.tt/32vveVH

Dollar Rebounds, Scores Solid Gains Against Peers

The U.S. dollar moved higher on Wednesday, rebounding from recent losses, after data showed a weak outlook for the Japanese economy, and the New Zealand central bank hinted at a rate hike.

Traders are looking ahead to U.S. inflation data, due on Friday.

The dollar index advanced to 90.11, gaining about 0.55%.

Against the Euro, the dollar firmed up to $1.2196, rising nearly 0.5% from the previous close of $1.2252.

The Pound Sterling lost ground against the dollar, easing to $1.4122, from $1.4149.

The Yen weakened to 109.14, sliding from 108.78. Japan's government downgraded its economic assessment citing the impact of the coronavirus pandemic on consumer spending and business conditions.

In the monthly report, the Cabinet Office said that the Japanese economy shows weakness in some components further, although it remains in picking up in a severe situation due to the Novel Coronavirus.

Against the Aussie, the dollar firmed up a bit to 0.7743, gaining from 0.7751.

The Swiss franc slipped to 0.8972 a dollar, sliding 0.19%, while the Loonie weakened to 1.2124 a dollar, losing nearly 0.5%.

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

source http://www.mt5.com/forex_news/quickview/2177202/

S&P 500 Index Gains as Trades Eye US GDP, Nikkei and ASX 200 Climb

The S&P 500 index climbed modestly ahead of the release of US GDP, durable goods as well as initial jobless claims data. Asia Pacific markets are positioned for a steady start as inflation fears ab... Via DailyFX - Market News https://ift.tt/32vveVH

Treasuries Close Slightly Lower Following Choppy Trading Day

Treasuries showed a lack of direction over the course of the trading session on Wednesday before ending the day slightly lower.

Bond prices spent the morning bouncing back and forth across the unchanged line but moved to the downside in the afternoon. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, inched up by 1 basis point to 1.574 percent.

The pullback shown by treasuries in afternoon trading came even though the Treasury Department revealed its auction of $61 billion worth of five-year notes attracted slightly above average demand.

The five-year note auction drew a high yield of 0.788 percent and a bid-to-cover ratio of 2.49, while the ten previous five-year note auctions had an average bid-to-cover ratio of 2.40.

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 also attracted above average demand.

On Thursday, the Treasury is scheduled to announce the results of this month's auction of $62 billion worth of seven-year notes.

Trading on Thursday may also be impacted by reaction to reports on weekly jobless claims, durable goods orders and pending home sales.

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

source http://www.mt5.com/forex_news/quickview/2177201/

Oil Futures Settle Higher As Crude Stockpiles Drop

Crude oil futures settled higher on Wednesday, rising for a fourth successive session, after data showed a drop in U.S. crude inventories in the week ended May 21st.

Expectations that fuel demand in the U.S. will see a surge ahead of the summer driving season contributed as well to oil's uptick.

Worries about a likely excess supply in the market in the event of a return of Iranian supply limited oil's gains. According to reports, talks between Iran and world powers to resolve outstanding issues on a nuclear accord will continue in Vienna this week.

West Texas Intermediate Crude oil futures for July ended up by $0.14 or about 0.2% at $66.21 a barrel.

Data released by Energy Information Administration (EIA) showed crude oil inventories in the U.S. dropped by 1.662 million barrels last week, much higher than an expected draw of about 1.05 million barrels.

Gasoline inventories were down by 1.745 million barrels, and distillate stockpiles declined by 3.013 million barrels in the week, data from EIA showed.

The American Petroleum Institute (API) on Tuesday reported a draw in crude oil inventories of 439,000 barrels for the week ended May 21, compared with a build of 620,000 million barrels reported for the previous week. Analysts had predicted a draw of 1.050 million barrels for the week.

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

source http://www.mt5.com/forex_news/quickview/2177200/

Gold Futures Settle Higher Again

Despite the dollar's rebound from recent losses, gold futures settled higher on Wednesday, extending gains to a third consecutive session.

Inflation concerns and lower Treasury yields supported the yellow metal.

The dollar index rose by about 0.55% to 90.11, limiting gold's uptick.

Gold futures for June ended up by $3.20 or about 0.2% at $1,901.20 an ounce, the highest close since January 7.

Silver futures for July closed lower by $0.179 or 0.6% at $27.877 an ounce, while Copper futures settled at $4.5295 per pound, gaining $0.0230 or 0.3%.

The dollar had tumbled to multi-month lows in recent sessions, weighed down by comments by several Federal Reserve officials that any inflation will be transitory and the Fed will maintain its current dovish monetary policy stance.

Gold's movements over the next couple of days will depend largely on the data on inflation, growth and jobless claims.

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

source http://www.mt5.com/forex_news/quickview/2177199/

*Denmark Apr Retail Sales -8.3% On Month Vs. +19.8% In March

Denmark Apr Retail Sales -8.3% On Month Vs. +19.8% In March

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

source http://www.mt5.com/forex_news/quickview/2177167/

*Amended: Japan Mar Final Leading Index 102.5 Vs. 98.9 In Feb, Flash 103.2

Amended: Japan Mar Final Leading Index 102.5 Vs. 98.9 In Feb, Flash 103.2

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

source http://www.mt5.com/forex_news/quickview/2177166/

Canadian Dollar Forecast: Pushing to Lower Levels or Correction Ahead?

Exhaustion setting in as CAD stalls despite rising oil prices. Via DailyFX - Market News https://ift.tt/32vveVH

European Economics Preview: France Business & Consumer Confidence Due

Business and consumer confidence survey results are due from France on Wednesday, headlining a light day for the European economic news.

At 2.45 am ET, France Insee is scheduled to issue business and consumer confidence survey results for May. The business confidence index is forecast to rise to 106 in May from 104 in April. Likewise, the consumer sentiment indicator is seen rising to 97 from 94 in the prior month.

At 3.30 am ET, Statistics Sweden publishes unemployment data for April. The unemployment rate was 10 percent in March.

At 4.00 am ET, unemployment data is due from Poland. Economists forecast the jobless rate to fall to 6.3 percent in April from 6.4 percent in March.

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

source http://www.mt5.com/forex_news/quickview/2177165/

*Japan Mar Leading Index 102.5 Vs. 988.9 In February

Japan Mar Leading Index 102.5 Vs. 988.9 In February

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

source http://www.mt5.com/forex_news/quickview/2177164/

British Pound (GBP) Price Outlook: Range-Trading Opportunities in GBP/USD

GBP/USD continues to trade sideways around the 1.4150 level and will likely ease back as the price nears its recent highs and rally when it nears the lows. Via DailyFX - Market News https://ift.tt/32vveVH

RBNZ Holds Official Cash Rate Steady At 0.25%

The Monetary Policy Committee of the Reserve Bank of New Zealand on Wednesday decided to keep its Official Cash Rate unchanged at the record low of 0.25 percent, in line with expectations.

It was the 10th straight meeting with no change after the RBNZ trimmed the OCR by 75 basis points to the current mark on March 16, 2020.

The Committee also will keep the Large Scale Asset Purchase (LSAP) Program of up to NZ$100 billion and the Funding for Lending Program (FLP) operation unchanged.

The global economic outlook has continued to improve, with ongoing fiscal and monetary stimulus underpinning the recovery, the central bank said in a statement accompanying the decision. New Zealand's commodity export prices have benefited from this rise in global demand. However, divergences in economic activity, both within and between countries, remain significant. The sustainability of the global economic recovery remains dependent on the containment of COVID-19.

The near-term economic data will continue to be highly variable. While economic growth in New Zealand slowed over the summer months following an earlier strong rebound, construction activity remains robust. The aggregate level of employment has also proved resilient, while fiscal spending continues to support domestic economic activity.

However, tourism-related business activity continues to be affected by the absence of international visitors, with the recent opening of Trans-Tasman travel expected to only partially offset revenue losses. The extent of the dampening effect of the government's new housing policies on house price growth and hence economic activity will also take time to be observed.

Confidence in the medium-term outlook is rising as the more extreme negative health scenarios wane given the vaccination progress globally. However, given ongoing virus-related restrictions in activity, the sectoral unevenness of economic recovery, and the weak level of business investment.

A range of international and domestic factors are currently resulting in rising costs for businesses and consumers. These factors include disruptions to global raw material supplies, higher oil prices, and pressure on shipping arrangements. These price pressures are likely to be temporary and are expected to abate over the course of the year.

The committee noted that medium-term inflation and employment would likely remain below its remit targets in the absence of prolonged monetary stimulus. The committee also noted that while the low interest rate environment has supported house prices, other factors such as recent tax changes, the growing supply of housing, and lending restrictions, are providing offsetting pressures.

The committee agreed to maintain its current stimulatory monetary settings until it is confident that consumer price inflation will be sustained near the 2 percent per annum target midpoint, and that employment is at its maximum sustainable level.

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

source http://www.mt5.com/forex_news/quickview/2177163/

How to Short Sell a Stock When Trading Falling Markets

Short selling is a great way to trade on a falling market. Learn how to short stocks Via DailyFX - Market News https://ift.tt/32vveVH

Australia Construction Work Climbs 2.4% In Q1

The value of total construction work done in Australia was up a seasonally adjusted 2.4 percent on quarter in the first three months of 2021, the Australian Bureau of Statistics said on Wednesday - coming in at A$51.975 billion.

That beat expectations for an increase of 2.2 percent following the upwardly revised 0.4 percent increase in the three months prior (originally -0.9 percent).

Building construction was up 2.5 percent on quarter, while residential building gained 5.1 percent, non-residential building fell 1.6 percent and engineering rose 2.2 percent.

On a yearly basis, the value of total construction work fell 1.1 percent. Building construction was down 1.8 percent on year, while residential building gained 4.2 percent, non-residential building fell 10.4 percent and engineering eased 0.3 percent.

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

source http://www.mt5.com/forex_news/quickview/2177162/

Gold Price Forecast: XAU/USD May Rise Post RBNZ as Fedspeak Remains Dovish

Gold prices climbed, extending April’s bounce amid falling Treasury yields and an RBNZ rate decision that seemed to spark a domino chain that dented the US Dollar. XAU/USD may rise ahead. Via DailyFX - Market News https://ift.tt/32vveVH

*Australia Construction Work Done +2.4% On Quarter In Q1

Australia Construction Work Done +2.4% On Quarter In Q1

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

source http://www.mt5.com/forex_news/quickview/2177161/

New Zealand April Trade Surplus NZ$388 Million

New Zealand posted a merchandise trade surplus of NZ$388 million in April, Statistics New Zealand said on Wednesday - up from the upwardly revised NZ$39 million surplus in March (originally NZ$38 million).

Imports surged 26.0 percent on year to NZ$4.98 billion last month, but down from NZ$5.66 billion in March.

Exports rose an annual 1.2 percent to NZ$5.37 billion after coming in at NZ$5.69 billion in the previous month.

Export commodities to rise included logs, wood, and wood articles (up NZ$356 million), mechanical machinery and equipment (up NZ$102 million), live animals (up NZ$64 million), and iron and steel (up NZ$51 million).

Export commodities to fall included milk powder, butter, and cheese, down NZ$311 million (20 percent), fruit, down NZ$192 million (24 percent), food preparations (includes infant formula), down NZ$78 million (30 percent), and wine, down NZ$59 million (36 percent).

The monthly trade balance in April 2020 was a surplus of NZ$1.4 billion.

In the year to April, annual goods exports were valued at NZ$59.0 billion, down NZ$1.4 billion (2.4 percent) from the previous year.

Annual goods imports were valued at NZ$58.3 billion, down NZ$4.6 billion (7.2 percent) from the previous year.

The annual goods trade balance was a surplus of NZ$733 million. In the year ended April 2020 there was a deficit of NZ$2.4 billion.

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

source http://www.mt5.com/forex_news/quickview/2177160/

New Zealand Has NZ$388 Million Trade Surplus In April

New Zealand had a merchandise trade surplus of NZ$388 million in April, Statistics New Zealand said on Wednesday - up from the upwardly revised NZ$39 million surplus in March (originally NZ$38 million).

Imports surged 26.0 percent on year to NZ$4.98 billion last month, but down from NZ$5.66 billion in March.

Exports rose an annual 1.2 percent to NZ$5.37 billion after coming in at NZ$5.69 billion in the previous month.

The monthly trade balance in April 2020 was a surplus of NZ$1.4 billion.

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

source http://www.mt5.com/forex_news/quickview/2177159/

*New Zealand Has NZ$388 Million Surplus In April

New Zealand Has NZ$388 Million Surplus In April

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

source http://www.mt5.com/forex_news/quickview/2177158/

*New Zealand Imports +26.0% On Year, Exports +1.2% In April

New Zealand Imports +26.0% On Year, Exports +1.2% In April

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

source http://www.mt5.com/forex_news/quickview/2177157/

New Zealand Dollar Outlook: RBNZ Catapults NZD/USD on Possible 2H 2022 OCR Hike

NZD/USD jolted higher after the Reserve Bank of New Zealand left benchmark lending rates unchanged in May, but opened the door to a possible hike during 2H 2022. Via DailyFX - Market News https://ift.tt/32vveVH

New Zealand Interest Rate Decision Due On Wednesday

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

New Zealand also will release April figures for imports, exports and trade balance. In March, imports were worth NZ$5.65 billion and exports were at NZ$5.68 billion for a trade surplus of NZ$33 million.

Australia will see April results for the leading economic index from Westpac and also Q1 numbers for construction work done. The economic index was up 0.38 percent on month in March. Construction work is expected to gain 2.2 percent on quarter after sinking 0.9 percent in the three months prior.

Singapore will provide Q1 numbers for current account; in the previous three months, the current account surplus was SGD19.62 billion.

Japan will release final March figures for its leading and coincident economic indexes; the previous scores were 98.9 and 89.9, respectively.

Finally, the markets in Malaysia, Singapore and Indonesia are closed on Wednesday for Vesak Day - while Thailand is also shuttered for Wisakha Bucha Day. They all return to action on Thursday.

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

source http://www.mt5.com/forex_news/quickview/2177156/

*South Korea Business Confidence Index 96.0 In May, Unchanged From April - BoK

South Korea Business Confidence Index 96.0 In May, Unchanged From April - BoK

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

source http://www.mt5.com/forex_news/quickview/2177155/

DailyFX Forex Trading Course Walkthrough: Part One

While the FX market shares many similarities with other markets, there is considerable nuance that one will want to learn when getting started in Foreign Exchange. Via DailyFX - Market News https://ift.tt/32vveVH

Dollar Extends Slide Against Peers

The U.S. dollar exhibited weakness against most of its major counterparts on Tuesday amid rising speculation the Fed will continue with its easy monetary policy.

Recent speeches from some Fed officials confirmed that the central bank is unlikely to tighten its policy anytime soon.

James Bullard, president of the St. Louis Federal Reserve, told Yahoo Finance in an exclusive interview that policymakers should not be too eager to pull back support yet as vaccinations bring the economy "closer and closer" to pre-pandemic form.

Other Fed officials Raphael Bostic and Lael Brainard also talked down inflation risks and described the recent demand-supply disruptions as transitory.

A report released by the Conference Board said the consumer confidence index edged down to 117.2 in May after climbing to a revised 117.5 in April.

Economists had expected the consumer confidence index to pull back to 119.5 from the 121.7 originally reported for the previous month.

New home sales in the U.S. showed a substantial decrease in the month of April, according to a report released by the Commerce Department. The report said new home sales slumped by 5.9% to an annual rate of 863,000 in April after jumping by 7.4% to a significantly downwardly revised rate of 917,000 in March.

Investors now await U.S. personal consumption data, the Fed's preferred inflation measure, due later this week.

The dollar index dropped to a multi-month low of 89.54 in the Asian session, and despite rallying to 89.85 by noon, faltered again and was last seen at 89.70, down 0.17% from the previous close.

Against the Euro, the dollar dropped to $1.2249, giving up more than 0.25%. Survey data from the ifo Institute showed that German business sentiment improved more than expected in May.

The business confidence index rose to 99.2 in May from 96.6 in the previous month. The reading was also above economists' forecast of 98.2.

Data from Destatis revealed that the German economy contracted slightly more than initially estimated in the first quarter due to the coronavirus pandemic, with the GDP falling 1.8% sequentially, in contrast to the 0.5% expansion seen in the fourth quarter.

The Pound Sterling firmed up, fetching $1.4143 a unit, compared with $1.4157 Monday evening.

The Yen was flat at 108.75 a dollar, recovering from a low of 109.07 it touched in early New York session.

The Aussie, which eased to US$0.7733, recovered subsequently and was down slightly at US$0.7750 a little while ago.

The Swiss franc firmed up to 0.8954 a dollar, gaining from 0.8972 a dollar, while the Loonie weakened to C$1.2065 a dollar, down 0.17% from the previous close of C$1.2044.

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

source http://www.mt5.com/forex_news/quickview/2177154/

Oil Futures Settle Slightly Higher

Crude oil futures settled marginally up on Tuesday with traders closely following the ongoing negotiations with regard to Iran nuclear deal.

Traders looked to be weighing the likely impact a prospective deal that could result in the U.S. lifting sanctions on Iran might make on global crude supply.

West Texas Intermediate Crude oil futures for July edged up $0.02 to settle at $66.07 a barrel.

Brent crude futures were down $0.10 or 0.15% at 68.27 a barrel a little while ago.

Iran and the U.N. nuclear watchdog said on Monday that they are extending a recently expired monitoring agreement by a month, giving negotiators in Vienna time to revive the nuclear deal from which the U.S. withdrew in 2018.

Talks between Iran and world powers will continue in Vienna this week to resolve outstanding issues on a nuclear accord.

Iranian President Hassan Rouhani said Monday the U.S. has no other option than to lift all sanctions on Iran, which were imposed under former U.S. President Donald Trump.

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

source http://www.mt5.com/forex_news/quickview/2177153/

Treasuries Extend Upward Trend Amid Easing Inflation Concerns

Treasuries showed a notable move to the upside during trading on Tuesday, extending the upward trend seen over the past few sessions.

Bond prices moved modestly higher in early trading and climbed more firmly into positive territory as the day progressed. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, fell by 4.4 basis points to 1.564 percent.

The continued advance by treasuries came as concerns about inflation and monetary policy tightening continued to ease following comments from several Federal Reserve Officials.

St. Louis Fed President James Bullard told Yahoo Finance in an exclusive interview that policymakers should not be too eager to pull back support yet as vaccinations bring the economy "closer and closer" to pre-pandemic form.

Other Fed officials Raphael Bostic and Lael Brainard also talked down inflation risks and described the recent demand-supply disruptions as transitory.

Treasuries saw further upside after the Treasury Department revealed this month's auction of $60 billion worth of two-year notes attracted above average demand.

The two-year note auction drew a high yield of 0.152 percent and a bid-to-cover ratio of 2.74, while the ten previous two-year note auctions had an average bid-to-cover ratio of 2.51.

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

On the U.S. economic front, the Commerce Department released a report showing a substantial decrease in new home sales in the month of April.

The report said new home sales slumped by 5.9 percent to an annual rate of 863,000 in April after jumping by 7.4 percent to a significantly downwardly revised rate of 917,000 in March.

Economists had expected new home sales to tumble by 7.0 percent to a rate of 950,000 from the 1.021 million originally reported for the previous month.

A separate report released by the Conference Board showed consumer confidence in the U.S. held steady in the month of May.

The Conference Board said its consumer confidence index edged down to 117.2 in May after climbing to a revised 117.5 in April.

Economists had expected the consumer confidence index to pull back to 119.5 from the 121.7 originally reported for the previous month.

A lack of major U.S. economic data may lead to light trading on Wednesday, although bond traders are likely to keep an eye on the results of the Treasury's auction of $61 billion worth of five-year notes.

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

source http://www.mt5.com/forex_news/quickview/2177152/

Gold Futures Settle Higher As Dollar Slips

Gold prices climbed higher on Tuesday as the dollar slid against its peers and the yield on Treasury bonds dropped.

Data showing a drop in U.S. consumer confidence reading contributed as well to the increased demand for the safe-haven yellow metal.

The dollar index dropped to 89.54 in the Asian session. After recovering to 89.85 by noon, the index retreated again and was last seen at 89.65, down 0.21% from Monday's close.

Gold futures for June ended up by $13.50 or about 0.7% at $1,898.00 an ounce.

Silver futures for July closed higher by $0.151 at $28.056 an ounce, while Copper futures for July settled at $4.5065 per pound, down $0.1090 from the previous close.

The dollar slid as comments from a series of Fed officials helped ease fears about inflation.

James Bullard, president of the St. Louis Federal Reserve, told Yahoo Finance in an exclusive interview that policymakers should not be too eager to pull back support yet as vaccinations bring the economy "closer and closer" to pre-pandemic form.

Other Fed officials Raphael Bostic and Lael Brainard also talked down inflation risks and described the recent demand-supply disruptions as transitory.

A report released by the Conference Board said the consumer confidence index edged down to 117.2 in May after climbing to a revised 117.5 in April. Economists had expected the consumer confidence index to pull back to 119.5 from the 121.7 originally reported for the previous month.

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

source http://www.mt5.com/forex_news/quickview/2177151/

*Germany Q1 GDP Falls 1.8% On Quarter, Flash -1.7%

Germany Q1 GDP Falls 1.8% On Quarter, Flash -1.7%

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

source http://www.mt5.com/forex_news/quickview/2177099/

*UK Apr PSNB Excld Banks GBP 31.7 Bln, Second Highest April Borrowing On Record

UK Apr PSNB Excld Banks GBP 31.7 Bln, Second Highest April Borrowing On Record

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

source http://www.mt5.com/forex_news/quickview/2177098/

Euro Mixed Ahead Of German GDP Data

At 2.00 am ET Tuesday, Destatis is scheduled to issue Germany's revised GDP data for the first quarter. According to preliminary estimate, gross domestic product fell 1.7 percent sequentially, in contrast to the 0.5 percent growth seen in the fourth quarter.

Ahead of the data, the euro traded mixed against its major counterparts. While it held steady against the greenback and the yen, it was up against the franc. Against the pound, it dropped.

The euro was worth 132.97 against the yen, 1.2225 against the greenback, 1.0961 against the franc and 0.8624 against the pound at 1:55 am ET.

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

source http://www.mt5.com/forex_news/quickview/2177097/

European Economics Preview: Germany Ifo Business Confidence Data Due

Business confidence and revised GDP from Germany are due on Tuesday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis is scheduled to issue Germany's revised GDP data for the first quarter. According to preliminary estimate, gross domestic product fell 1.7 percent sequentially, in contrast to the 0.5 percent growth seen in the fourth quarter.

Also, April public sector finance data is due from the UK.

At 3.00 am ET, Spain's producer price data is due. In the meantime, industrial production from Austria and manufacturing sentiment from Turkey are due.

Half an hour later, Statistics Sweden is slated to release producer prices for April.

At 4.00 am ET, Germany's ifo business confidence survey data is due. Economists forecast the business confidence index to rise to 98.2 in May from 96.8 in April. At 6.00 am ET, the Confederation of British Industry is set to issue UK Distributive Trades survey results for May. The retail sales balance is seen rising to 30 percent in May from 20 percent in April.

At 8.00 am ET, Hungary's central bank announces its interest rate decision. The bank is seen holding the rate at 0.60 percent.

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

source http://www.mt5.com/forex_news/quickview/2177096/

Introduction to Basic Trendline Analysis

Learn to identify, construct and utilize trend lines; the simplest and single most important tool in your trading arsenal. Via DailyFX - Market News https://ift.tt/32vveVH

Australian Dollar Forecast: AUD/USD Positives Fade, China Starts FX Intervention

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*Singapore Apr Industrial Production +1.0% On Month Vs. -1.7% In Mar, Consensus +0.5%

Singapore Apr Industrial Production +1.0% On Month Vs. -1.7% In Mar, Consensus +0.5%

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

source http://www.mt5.com/forex_news/quickview/2177095/

*Singapore Apr Industrial Production +2.1% On Year Vs. +7.6% In Mar, Consensus +3.4%

Singapore Apr Industrial Production +2.1% On Year Vs. +7.6% In Mar, Consensus +3.4%

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

source http://www.mt5.com/forex_news/quickview/2177094/

*Finland Apr Jobless Rate 9.0% Vs. 8.0% In March

Finland Apr Jobless Rate 9.0% Vs. 8.0% In March

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

source http://www.mt5.com/forex_news/quickview/2177093/

Fibonacci Confluence on FX Pairs

Fibonacci levels can highlight key areas of support and resistance, but multiple Fibonacci levels in close proximity may provide even greater insight Via DailyFX - Market News https://ift.tt/32vveVH

British Pound (GBP) Price Outlook: GBP/USD to Break Higher if 1.42 Breached

GBP/USD is well placed to extend this month’s rally if the 1.42 level can be overcome on a sustained basis. Via DailyFX - Market News https://ift.tt/32vveVH

As a New Retail Trader Age Rises, Heed Tales of Past Manias

In spring 2020, the temporary closures of professional sports leagues during the initial coronavirus pandemic lockdown anointed a new class of retail traders in financial markets. Via DailyFX - Market News https://ift.tt/32vveVH

Singapore Q1 GDP Grows 1.3% On Year

Singapore's gross domestic product expanded 1.3 percent on year in the first three months of 2021, the Ministry of Trade and Industry said on Tuesday.

That exceeded expectations for an increase of 0.9 percent following the 2.4 percent contraction in the fourth quarter of 2020.

On a seasonally adjusted quarterly basis, GDP rose 3.1 percent after climbing 3.8 percent in the three months prior.

Upon the release of the data, the MTI maintained its GDP growth forecast for 2021 at 4.0 to 6.0 percent.

The performance of the Singapore economy in Q1 was stronger than expected. The MTI said. While the recent tightening of domestic restrictions and border controls represents a setback to segments of the economy, the broader economy should still see a recovery this year in tandem with the global economic rebound and further progress in the domestic vaccination program.

The manufacturing sector expanded 10.7 percent on year, up from 10.3 percent in the previous quarter. Growth was due to output expansions in the electronics, precision engineering and chemicals clusters, which outweighed output declines in the transport engineering, general manufacturing and biomedical manufacturing clusters. On quarter, the manufacturing sector grew 10.8 percent, rebounding from the 1.4 percent contraction in the preceding quarter.

The construction sector contracted 22.7 percent on year, improving from the 27.4 percent contraction in the previous quarter. The performance of the sector was weighed down by declines in both public and private sector construction works. On quarter, the sector grew 5.0 percent, extending the 55.6 percent expansion in the fourth quarter.

The wholesale trade sector expanded 3.5 percent on year, faster than the 1.8 percent growth in the previous quarter. Growth was supported by an expansion in the machinery, equipment & supplies segment, which came on the back of the strong wholesale sales of telecommunications equipment & computers in tandem with the robust performance of Singapore's electronics exports. On quarter, the sector's growth slowed to 1.2 percent from the 5.2 percent in the fourth quarter.

The retail trade sector grew 1.4 percent on year, a reversal from the 4.7 percent contraction in the preceding quarter. Growth was supported by higher motor vehicular and non-motor vehicular sales volumes, partly due to low base effects from last year when sales were dampened by the introduction of safe distancing measures. On quarter, the sector expanded 0.9 percent, similar to the 0.8 percent growth in the previous quarter.

The transportation & storage sector shrank 16.5 percent on year, extending the 27.4 percent drop in the fourth quarter. Within the sector, the air transport segment contracted on the back of a sustained plunge in air passengers handled amidst ongoing international and domestic travel restrictions. Similarly, the water transport segment shrank on account of a decline in total sea cargo handled. On quarter, the transportation & storage sector grew 5.7 per cent, better than the 3.4 percent expansion in the previous quarter.

The accommodation sector expanded 19.0 percent on year, a turnaround from the 19.7 percent contraction in the preceding quarter. The strong growth seen in the sector was largely due to low base effects as international visitor arrivals had started to plunge in the first quarter of 2020 due to the tightening of border controls, although government and domestic tourism demand also provided some support. On quarter, the sector shrank 11.6 percent, reversing the 2.3 percent growth in the previous quarter.

The food & beverage services sector contracted 9.4 percent on year, improving from the 19.0 percent contraction in the previous quarter. All segments within the sector saw a decline in sales volume. Food caterers continued to be badly affected by restrictions on large-scale events and gatherings. Other segments such as restaurants were weighed down by capacity constraints arising from safe distancing measures, as well as the continued slump in visitor arrivals. On quarter, the sector was flat, a slowdown from the 6.7 percent expansion in the fourth quarter.

Growth of the information & communications sector accelerated to 6.4 percent on year from 2.6 percent in the previous quarter. The sector's strong performance was driven by the IT & information services and other segments, which came on the back of robust enterprise and consumer demand for digital solutions and services, as well as games & software publishing activities respectively. On quarter, the sector shrank 1.1 percent, a reversal from the 4.2 percent expansion in the preceding quarter.

The finance & insurance sector grew 4.7 percent on year, extending the 4.9 percent expansion in the previous quarter. Growth was mainly supported by the banking segment, which expanded on account of a pickup in credit intermediation activities. At the same time, the fund management, insurance and activities auxiliary to financial services segments also posted healthy growth. On quarter, the sector expanded 1.4 percent, moderating from 3.8 percent growth in the fourth quarter.

The real estate sector shrank 3.9 percent on year, easing from the 10.8 percent contraction in the previous quarter. The weak performance of the sector was largely due to a decline in commercial office and retail space rentals. On quarter, the sector slowed to 5.6 percent from 8.8 percent in the preceding quarter.

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

source http://www.mt5.com/forex_news/quickview/2177092/

Gold Price Outlook: XAU/USD Struggles as Bitcoin Rises, Eyes on Fedspeak Ahead

Gold prices struggled capitalizing on a weaker US Dollar and Treasury yields as Bitcoin rallied the most in about 2 weeks. Will dovish Fedspeak rekindle the yellow metal’s momentum? Via DailyFX - Market News https://ift.tt/32vveVH

Singapore GDP Expands 1.3% On Year In Q1

Singapore's gross domestic product gained 1.3 percent on year in the first three months of 2021, the Ministry of Trade and Industry said on Tuesday.

That beat expectations for an increase of 0.9 percent following the 2.4 percent contraction in the fourth quarter of 2020.

On a seasonally adjusted quarterly basis, GDP rose 3.1 percent after climbing 3.8 percent in the three months prior.

Upon the release of the data, the MTI maintained its GDP growth forecast for 2021 at 4.0 to 6.0 percent.

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

source http://www.mt5.com/forex_news/quickview/2177091/

*Singapore GDP +3.1% On Quarter, +1.3% On Year In Q1

Singapore GDP +3.1% On Quarter, +1.3% On Year In Q1

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

source http://www.mt5.com/forex_news/quickview/2177090/

South Korea Consumer Confidence Improves In May - BoK

Consumer confidence in South Korea picked up steam in May, the Bank of Korea said on Tuesday with its latest consumer confidence index score of 105.2 - up from 102.2 in April.

Consumer sentiment regarding current living standards was one point higher than in April at 93, and the outlook was also up one point to 97. Consumer sentiment for future household income was one point higher than in April at 98, while the outlook was two points higher at 108.

Consumer sentiment concerning current domestic economic conditions was eight points higher at 85, and the outlook was five points higher at 90.

The expected inflation rate for the following year was 2.2 percent.

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

source http://www.mt5.com/forex_news/quickview/2177089/

How Central Banks Impact the Forex Market

Discover how policies and interest rate hikes of central banks impact forex and trading decisions. Via DailyFX - Market News https://ift.tt/32vveVH

Dow Jones Gains, Nasdaq 100 Outperforms Amid Dovish Fedspeak. ASX 200 May Rise

The Dow Jones gained, but the tech-heavy Nasdaq 100 outperformed amid dovish Fedspeak. Australia’s ASX 200 may approach 2020 highs as APAC markets focus on a potentially rosy day. Via DailyFX - Market News https://ift.tt/32vveVH

Dollar Turns Weak Against Other Major Currencies

U.S. dollar lost ground against most of its peers on Monday as the yield on treasury bonds dropped amid hopes the central bank will hold its easy monetary policy unchanged for now.

The yield on 10-year U.S. Treasury Note dropped to near 1.60% this morning. Traders looked ahead to some crucial economic data, including reports on retail sales, consumer confidence and personal income & spending, due this week.

On the stimulus front, the White House lowered its infrastructure bill to $1.7 trillion from $2.25 trillion by reducing spending on broadband, roads, bridges and major infrastructure projects.

Still, Senate Republicans did not consider the new proposal as a significant improvement from the original package.

The dollar index, which dropped to 89.76 around mid morning, recovered some lost ground subsequently, and was last seen at 89.84, down 0.2% from the previous close.

Against the Euro, the dollar weakened to $1.2231 before recovering to $1.2216, still down as much as 0.3% from Friday's close.

The Pound Sterling was stronger against the dollar, fetching $1.4154 a unit, slightly up compared to previous close of $1.4150.

The Yen firmed up to 108.76, gaining 0.17%.

Against the Aussie, the dollar weakened to 0.7754 from 0.7732.

The Swiss franc strengthened to 0.8968 a dollar, gaining 0.12%. The Loonie firmed up to 1.2047 against the dollar, rising 0.16%, on higher crude oil prices.

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

source http://www.mt5.com/forex_news/quickview/2177088/

Three Women Leaders Changing Finance, Economics and Business

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Treasuries Move To Upside Ahead Of Key Inflation Data

After ending the previous session nearly unchanged, treasuries moved to the upside over the course of the trading day on Monday.

Bond prices moved higher in morning trading and remained firmly positive throughout the afternoon. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, fell by 2.4 basis points to 1.608 percent.

The advance by treasuries came amid a quiet day on the U.S. economic front, with traders keeping an eye on remarks by several Federal Reserve officials.

The economic calendar picks in the coming days and traders are likely to pay close attention to reports on new home sales, consumer confidence, durable goods orders, and personal income and spending.

The personal income and spending report includes a reading on inflation said to be preferred by the Federal Reserve, which could have an impact on the outlook for monetary policy.

While the Fed has repeatedly signaled it believes the recent increase in inflation largely reflects "transitory factors," a spike in prices could still raise concerns about the central bank tapering its asset purchases.

Trading on Tuesday may be impacted by reaction to reports on home prices, new home sales and consumer confidence.

Bond traders are also likely to keep an eye on the results of the Treasury Department's auction of $60 billion worth of two-year notes.

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

source http://www.mt5.com/forex_news/quickview/2177087/

Oil Futures Settle Sharply Higher

Crude oil futures climbed higher on Monday as inconclusive negotiations with Iran on the nuclear deal issue and reports forecasting a possible hurricane in the Gulf of Mexico eased concerns about any excess supply in the market.

A weak dollar, and expectations of a surge in energy demand amid easing travel restrictions in the U.S. and Europe supported oil's uptick. Recent upbeat data like strong manufacturing and services sector reports from the U.S. and some major European economies helped as well.

West Texas Intermediate Crude oil futures for July ended up by $2.47 or about 3.9% at $66.05 a barrel.

Brent crude futures were up $1.97 or nearly 3% at $68.32 a barrel a little while ago.

According to Goldman Sachs, oil prices are likely to hit $80 a barrel this year even if large volumes of Iranian crude return to the market, as energy demand is set to rise thanks to acceleration in vaccination and reopening of businesses in the U.S. and Europe.

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

source http://www.mt5.com/forex_news/quickview/2177086/