*UK Jun BRC Shop Price Index Falls 0.7% On Year

UK Jun BRC Shop Price Index Falls 0.7% On Year

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

source http://www.mt5.com/forex_news/quickview/2178901/

*South Korea May Retail Sales Up 3.1% Annually

South Korea May Retail Sales Up 3.1% Annually

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

source http://www.mt5.com/forex_news/quickview/2178900/

*South Korea May Retail Sales Fall 1.8% On Month

South Korea May Retail Sales Fall 1.8% On Month

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

source http://www.mt5.com/forex_news/quickview/2178899/

China Manufacturing Sector Growth Slows In June

China's manufacturing sector growth eased in June, reports said citing survey data from the National Bureau of Statistics on Wednesday.

The manufacturing Purchasing Managers' Index fell to 50.9 in June from 51.0 in May. However, a score above 50.0 indicates expansion in the sector and also remained above economists' forecast of 50.8.

At the same time, the non-manufacturing PMI that measures the performance of services and construction activity, declined to 53.5 in June from 55.2 a month ago.

The private Purchasing Managers' survey data from IHS Markit and Caixin is due on July 1.

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

source http://www.mt5.com/forex_news/quickview/2178898/

*Australia May Private Sector Credit Rises 0.4% M-o-M

Australia May Private Sector Credit Rises 0.4% M-o-M

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

source http://www.mt5.com/forex_news/quickview/2178897/

*Australia May Private Sector Credit Up 1.9% Annually Vs. 3.2% Last Year

Australia May Private Sector Credit Up 1.9% Annually Vs. 3.2% Last Year

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

source http://www.mt5.com/forex_news/quickview/2178896/

*China Jun Non-manufacturing PMI 53.5 Vs. 55.2 In May

China Jun Non-manufacturing PMI 53.5 Vs. 55.2 In May

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

source http://www.mt5.com/forex_news/quickview/2178895/

*China Jun Factory PMI 50.9 Vs. 51.0 In May, Consensus 50.8

China Jun Factory PMI 50.9 Vs. 51.0 In May, Consensus 50.8

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

source http://www.mt5.com/forex_news/quickview/2178894/

*Japan METI: Production Set To Increase In June, Decrease In July

Japan METI: Production Set To Increase In June, Decrease In July

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

source http://www.mt5.com/forex_news/quickview/2178893/

*Japan May Industrial Production Falls 5.9% M-o-M Vs. +2.9% In Apr, Consensus -2.4%

Japan May Industrial Production Falls 5.9% M-o-M Vs. +2.9% In Apr, Consensus -2.4%

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

source http://www.mt5.com/forex_news/quickview/2178891/

*Japan May Industrial Production Rises 22% On Year Vs. 15.8% In April

Japan May Industrial Production Rises 22% On Year Vs. 15.8% In April

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

source http://www.mt5.com/forex_news/quickview/2178892/

Introduction to Pitchfork Analysis & Median Line Trading

Find out how parallels of these trend lines can be utilized to give structure to a market advance or decline. Via DailyFX - Market News https://ift.tt/32vveVH

British Pound (GBP) Price Outlook: More Losses Likely for GBP/USD

GBP/USD looks to be heading lower near-term as its decline from 1.40 a week ago persists despite signs of a truce in the so-called sausage wars between the UK and the EU. Via DailyFX - Market News https://ift.tt/32vveVH

Crude Oil Prices Climb Ahead of OPEC+ Meeting, Viral Concern Eases

Crude oil prices held gains on vaccine optimism as traders awaited the OPEC+ meeting for clues about production hikes. API reported a sixth consecutive weekly fall in crude inventories. Via DailyFX - Market News https://ift.tt/32vveVH

Gold Prices Fall as Moderna Vaccine Optimism Strengthens the US Dollar

Gold prices fell almost 1% on Tuesday as the US Dollar strengthened after Moderna’s Covid-19 vaccine was shown to be effective against the Delta variant. Prices remain fragile ahead of Friday’s non... Via DailyFX - Market News https://ift.tt/32vveVH

What Does a Forex Spread Tell Traders?

Improve your knowledge of the spread, which is based on the buy and sell price of a currency pair. Via DailyFX - Market News https://ift.tt/32vveVH

Iron Ore Forecast: Prices May Stay Depressed Despite Upbeat Chinese Manufacturing PMI

Iron ore faces a tough recovery this week despite upbeat Chinese manufacturing PMI figures from the National Bureau of Statistics (NBS). Via DailyFX - Market News https://ift.tt/32vveVH

Dollar Rises To 1-week High, Posts Gains Against Major Rivals

The U.S. dollar climbed higher against most of its major rivals on Tuesday and hit a one-week high in the process, amid a surge in the Delta variant of the coronavirus infection, and new travel curbs in several countries.

Data showing a jump in U.S. consumer confidence in the month of June aided dollar's uptick. Traders also looked ahead to the upcoming monthly jobs data, and other key economic reports including U.S. manufacturing activity and factory orders.

The dollar rose on remarks from a few Fed officials that the central bank might tighten monetary policy sooner rather later.

Concerns over the imposition of tougher restrictions in some countries including Australia due to surging coronavirus infections contributed as well to the dollar's uptick.

In the U.K, coronavirus cases involving the Delta variant are rising, prompting European nations such as Spain and Portugal to impose new restrictions on travelers.

Several Fed policy makers have turned hawkish recently despite a weaker-than-expected U.S. inflation reading last week.

Richmond Fed President Thomas Barkin said on Monday that the central bank has made "substantial further progress" toward its inflation goal so as to begin the withdrawal of stimulus.

Barkin added that he would decide next year whether the U.S. central bank had reached its inflation and employment goals to justify a rate hike.

In economic news, the Conference Board said Tuesday that its Consumer Confidence index for June came in with a reading of 127.3, up from a revised reading of 120.0 in the previous month.

The S&P CoreLogic Case-Shiller 20-city home price index in the US increased by 14.9 percent in April 2021, following a revised 13.4 percent growth in the previous month and beating market expectations of 14.5 percent.

The dollar index climbed to 92.19 but pared some gains subsequently. It was last seen at 92.06, up nearly 0.2% from the previous close.

Against the Euro, the dollar firmed to $1.1897, rising nearly 0.25%.

Against Pound Sterling, the dollar strengthened to $1.3844, up nearly 0.3% from Monday's close.

The Yen strengthened to 110.55 a dollar, gaining marginally.

Against the Aussie, the dollar firmed to 0.7511, rising about 0.75%.

The Swiss franc weakened to 0.9212 a dollar, sliding from 0.9195, while the Loonie slid to 1.2401 from 1.2337, losing more than 0.5%.

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source http://www.mt5.com/forex_news/quickview/2178890/

Dow Jones Steady as Tech Stocks Rally, Hang Seng May Rebound

The Dow Jones closed modestly higher after a lab report showed Modena’s Covid-19 vaccine is effective against the Delta strain. The Nasdaq 100 hit an all-time high. APAC markets may rebound. Via DailyFX - Market News https://ift.tt/32vveVH

Euro Stoxx 50 & IBEX 35 Outlook: Recent Rally at Risk as COVID Cases Rise Again

The recent rally in European equity benchmarks is at risk following a rise in new delta-variant COVID cases and fresh travel restrictions. Via DailyFX - Market News https://ift.tt/32vveVH

Oil Futures Settle Slightly Higher Ahead Of Inventory Data

Crude oil prices moved higher on Tuesday after a somewhat lackluster session with traders looking ahead to the upcoming meeting of the Organization of the Petroleum Exporting Countries and its allies.

Traders are also awaiting weekly oil reports from the American Petroleum Institute (API) and U.S. Energy Information Administration (EIA). While the API's report is due later today, the EIA is scheduled to release its report Wednesday morning.

Concerns about outlook for energy demand due to the surge in the delta variant of the coronavirus infection and fresh curbs on travel in several European countries weighed on crude oil prices.

West Texas Intermediate Crude oil futures for August ended up by $0.07 at $72.98 a barrel.

The OPEC+ meeting, scheduled to take place on Thursday (July 1), will likely see the members agreeing on increasing crude output by an additional 500,000 barrels a day from August amid hopes energy demand will pick up.

Meanwhile, outbreaks of the highly contagious COVID-19 variant Delta raised concerns that the economic recovery will be slow.

In Australia, the cities of Sydney, Perth, Brisbane and Darwin have all been put into lockdown as the outbreak spreads. Spain and Portugal announced restrictions on the entry of unvaccinated British citizens ahead of the peak summer vacation period.

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

source http://www.mt5.com/forex_news/quickview/2178889/

Gold Futures Settle Notably Lower

Gold prices declined sharply on Tuesday after the yield on long term government bonds rose and the dollar strengthened against some major rivals.

The dollar rose on remarks from a few Fed officials that the central bank might tighten monetary policy sooner rather later.

Concerns over the imposition of tougher restrictions in some countries including Australia due to surging coronavirus infections contributed as well to the dollar's uptick.

In the U.K, coronavirus cases involving the Delta variant are rising, prompting European nations such as Spain and Portugal to impose new restrictions on travelers.

The dollar index, which rose to 92.19, was hovering around 92.05 a few minutes ago, gaining about 0.18%.

Gold futures for August ended down by $17.10 or about 1% at $1,763.60 an ounce, the lowest close since mid April.

Silver futures for September ended down by $0.353 or 1.3% at $25.901 an ounce, while Copper futures for September shed $0.0140 or 1.4% at $4.2645 per pound.

Several Fed policy makers have turned hawkish recently despite a weaker-than-expected U.S. inflation reading last week.

Richmond Fed President Thomas Barkin said on Monday that the central bank has made "substantial further progress" toward its inflation goal so as to begin the withdrawal of stimulus.

Barkin added that he would decide next year whether the U.S. central bank had reached its inflation and employment goals to justify a rate hike.

In economic news, the Conference Board said Tuesday that its Consumer Confidence index for June came in with a reading of 127.3, up from a revised reading of 120.0 in the previous month.

The S&P CoreLogic Case-Shiller 20-city home price index in the US increased by 14.9 percent in April 2021, following a revised 13.4 percent growth in the previous month and beating market expectations of 14.5 percent.

Investors await U.S. jobs report due on Friday to determine the pace of improvement in the labor market.

Other key economic data due this week include pending home sales, ADP private sector payrolls, jobless claims and ISM manufacturing activity.

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

source http://www.mt5.com/forex_news/quickview/2178888/

Australian Dollar Outlook: Delta Variant Weighs on Outlook, Chinese PMIs on Tap

The Australian Dollar moved lower against the Greenback overnight as investors become increasingly concerned over the spread of the highly transmissible Delta Covid variant. AUD/USD is eyeing Chine... Via DailyFX - Market News https://ift.tt/32vveVH

*Spain Jun Flash Inflation 2.6% Vs. 2.7% In May

Spain Jun Flash Inflation 2.6% Vs. 2.7% In May

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

source http://www.mt5.com/forex_news/quickview/2178835/

*Sweden Jun Economic Sentiment 119.8 Vs. 119.3 In May

Sweden Jun Economic Sentiment 119.8 Vs. 119.3 In May

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

source http://www.mt5.com/forex_news/quickview/2178834/

Dutch Producer Confidence At Record High

Dutch producer confidence improved to the highest level since 1985, data from the Central Bureau of Statistics showed on Tuesday.

The producer sentiment index rose to 11.5 in June from 8.8 in May. This was above the average score of 0.3 seen over the past twenty years.

The latest reading was the highest since the survey started in 1985.

Producers were slightly more positive about the order position, while assessment of stocks of finished goods were less positive, the agency said.

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

The producers in the electrical engineering and machine industry, and wood and building materials industry were more positive in June.

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

source http://www.mt5.com/forex_news/quickview/2178833/

UK House Prices Grow Most Since 2004: Nationwide

UK house prices grew at the fastest pace in more than six years in June largely due to the low base of comparison, data from the Nationwide Building Society showed on Tuesday.

House prices grew 13.4 percent on a yearly basis in June, the biggest outturn since November, 2004. Economists had forecast prices to climb 13.7 percent after rising 10.9 percent in May.

While the strength is partly due to base effects, with June last year unusually weak due to the first lockdown, the market continues to show significant momentum, Robert Gardner, Nationwide's chief economist, said.

Month-on-month, house price growth eased to 0.7 percent in June from 1.7 percent in May. Prices in June were almost 5 percent higher than in March.

Despite house prices rising to new all-time highs, mortgage payment is not high by historic standards, largely because mortgage rates remained close to record lows.

Underlying demand is likely to remain solid in the near term as the economy unlocks, Gardner said. Improving consumer confidence, low borrowing cost combined with the lack of supply on the market suggested further upward pressure on prices.

Nevertheless, underlying demand is likely to soften around the turn of the year if unemployment rises as most analysts expect, as government support schemes wind down, added Gardner.

In the second quarter, there were a considerable pick up in overall house price growth. House prices advanced 3.7 percent sequentially and by 10.3 percent from the last year.

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

source http://www.mt5.com/forex_news/quickview/2178832/

*France Jun Consumer Confidence 102 Vs. 98 In May, Consensus 100

France Jun Consumer Confidence 102 Vs. 98 In May, Consensus 100

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

source http://www.mt5.com/forex_news/quickview/2178831/

US Dollar Rise Maintained, Eyes on Month End Rebalancing

USD keeps on the front foot as bulls probe higher levels. Eyes on month end rebalancing ahead of NFP. Via DailyFX - Market News https://ift.tt/32vveVH

*Singapore May Producer Prices +9.2% On Year Vs. +9.4% In April

Singapore May Producer Prices +9.2% On Year Vs. +9.4% In April

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

source http://www.mt5.com/forex_news/quickview/2178830/

*UK June Nationwide House Prices Up 0.7% On Month Vs. 1.7% In May, Consensus 0.7%

UK June Nationwide House Prices Up 0.7% On Month Vs. 1.7% In May, Consensus 0.7%

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

source http://www.mt5.com/forex_news/quickview/2178829/

*UK Jun Nationwide House Prices Rise 13.4% On Year Vs. 10.9% In May, Consensus 13.7%

UK Jun Nationwide House Prices Rise 13.4% On Year Vs. 10.9% In May, Consensus 13.7%

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

source http://www.mt5.com/forex_news/quickview/2178828/

Japan Retail Sales Climb More Than Expected; Unemployment Rises

Japan's retail sales grew for the third straight month in May despite continuing restrictions related to the pandemic and the unemployment rate rose further, official data revealed Tuesday.

Retail sales grew at a pace of 8.2 percent year-on-year in May, but slower than the 11.9 percent increase in April, data released by the Ministry of Economy, Trade and Industry showed.

However, the annual growth rate was faster than the expected increase of 7.9 percent and marked the third consecutive increase.

At the same time, retail sales fell 0.4 percent in May from April, when sales declined 4.6 percent.

Consumer spending is likely to remain unchanged from the first quarter levels in the second quarter, Tom Learmouth, an economist at Capital Economics, said.

Heading into the third quarter, with most state of emergency declarations lifted consumption should now be recovering strongly, the economist noted. And that recovery should continue over the coming months as vaccines build up the economy's immunity to the virus.

Elsewhere, data released by the Ministry of Internal Affairs and Communications showed that the unemployment rate rose to a seasonally adjusted 3 percent in May from 2.8 percent in April.

On an unadjusted basis, the jobless rate came in at 3.1 percent, up from 3 percent in April.

The number of unemployed increased by 130,000 from the last year to 2.11 million in May.

While the further rise in the unemployment rate last month suggests on-off restrictions are taking their toll on the labor market, employment should bounce back strongly soon, Learmouth at Capital Economics, said.

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

source http://www.mt5.com/forex_news/quickview/2178827/

European Economics Preview: Eurozone Economic Confidence Data Due

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

At 1.30 am ET, the French statistical office Insee publishes unemployment data for the first quarter. The jobless rate is forecast to rise to 8.1 percent from 8 percent in the fourth quarter.

At 2.00 am ET, the UK Nationwide house price data is due. House prices are forecast to rise 13.7 percent on year in June, faster than the 10.9 percent increase in May.

At 2.45 am ET, the French statistical office Insee is scheduled to issue monthly consumer confidence survey results. The consumer sentiment index is forecast to rise to 100 in June from 97 in May.

At 3.00 am ET, Sweden's economic tendency survey data is due.

In the meantime, flash consumer prices and retail sales figures are due from Spain. EU harmonized inflation is seen unchanged at 2.4 percent in June.

At 4.30 am ET, the Bank of England is set to release mortgage approvals data for May. The number of mortgages approved in May is forecast to fall to 85,900 from 86,920 in April.

At 5.00 am ET, European Commission is slated to release euro area economic confidence survey data. The economic sentiment index is seen rising to 116.5 in June from 114.5 in May.

At 8.00 am ET, Germany's flash consumer price data is due. Consumer price inflation is forecast to ease to 2.3 percent in June from 2.5 percent in May.

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

source http://www.mt5.com/forex_news/quickview/2178826/

*Dutch Jun Business Confidence 11.5 Vs. 8.8 In May

Dutch Jun Business Confidence 11.5 Vs. 8.8 In May

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

source http://www.mt5.com/forex_news/quickview/2178825/

Gold Price Forecast: XAU/USD Heading for Worst Month Since 2016, Range Trading Ahead of NFP

Gold is back within its April range as momentum builds ahead of NFP Friday Via DailyFX - Market News https://ift.tt/32vveVH

*Japan May Jobless Rate 3% Vs. 2.8% In Apr, Consensus 2.9%

Japan May Jobless Rate 3% Vs. 2.8% In Apr, Consensus 2.9%

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

source http://www.mt5.com/forex_news/quickview/2178824/

*Japan May Retail Sales Up 8.2% On Year Vs. 11.9% In Apr, Consensus 7.9%

Japan May Retail Sales Up 8.2% On Year Vs. 11.9% In Apr, Consensus 7.9%

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

source http://www.mt5.com/forex_news/quickview/2178823/

*Japan May Retail Sales Fall 0.4% On Month

Japan May Retail Sales Fall 0.4% On Month

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source http://www.mt5.com/forex_news/quickview/2178822/

British Pound (GBP) Price Outlook: GBP/USD Poised to Break Lower?

Amidst a lack of fundamental news to move Sterling, attention will likely be on technicals near-term, and they’re suggesting a possible shift to the downside. Via DailyFX - Market News https://ift.tt/32vveVH

Crude Oil, Gold, Natural Gas Forecast: Traders Eye US NFP Report and Heatwave

The US non-farm payrolls report (NFP) will likely influence price action in gold and crude oil prices as traders gauge the Fed's policy path. Meanwhile, a heatwave in the country is sending natural... Via DailyFX - Market News https://ift.tt/32vveVH

Nasdaq 100 Hits Record High, Viral Concerns Weigh on ASX 200

The Nasdaq 100 surged to an all-time high on earnings optimism, outperforming the Dow Jones and S&P 500. Oil dropped while gold held steady. APAC markets look set to trade mixed today. Via DailyFX - Market News https://ift.tt/32vveVH

Banks Resume Capital Distribution Following Federal Reserve Stress Test Results

Major US banks announced plans to resume and boost their capital distribution programs, with all but Citi electing to boost quarterly dividends. Via DailyFX - Market News https://ift.tt/32vveVH

Oil Futures Settle Lower On Demand Concerns

Crude oil prices drifted lower on Monday, dragging the most active crude futures contract to its lowest close in more than a week.

Concerns about outlook for energy demand following new travel restrictions in some European countries, including Germany, Spain and Portugal, and fresh lockdown moves in Australia amid concerns over the spread of the delta variant of Covid-19 weighed on oil prices.

Traders were also a bit reluctant to create fresh long positions ahead of the upcoming meeting of the Organization of the Petroleum Exporting Countries and their allies, due this Thursday.

West Texas Intermediate Crude oil futures for August ended down by $1.14 or about 1.5% at $72.91 a barrel, the lowest close since June 18.

Analysts surveyed by Bloomberg expect OPEC+ to raise their collective output levels by another 550,000 barrels per day (bpd) in August.

Data showing a slowdown in China's industrial profits growth raised concerns about oil demand from the world's second largest economy.

Traders also noted the developments on the geopolitical front. The U.S. carried out airstrikes against Iran-backed militia in Iraq and Syria on Sunday, in response to drone attacks against U.S. personnel and facilities in Iraq.

The strikes targeted operational and weapons storage facilities at two locations in Syria and one location in Iraq, the Pentagon said. The Pentagon press secretary, John Kirby, described the airstrikes as "defensive".

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source http://www.mt5.com/forex_news/quickview/2178821/

Gold Futures Settle Higher For 2nd Straight Day

Gold futures settled higher on Monday, gaining for a second straight session, despite starting off on a somewhat weak note.

Concerns about a spike in coronavirus cases in Asia and fresh travel-related restrictions in Australia, Spain, Germany and Portugal due to the spread of the Delta variant of Covid-19 in parts of Europe pushed up demand for the safe-haven asset.

Gold futures for August ended up by $2.90 or about 0.2% at $1,780.70 an ounce.

Silver futures for July ended up by $0.136 at $26.223 an ounce. Copper futures for September, the most active contract, settled at $4.2785 per pound, down $0.0110 from the previous close.

The dollar's retreat from the day's high supported gold prices. The dollar index, which rose to 92.02 in the European session, was last seen hoving around 91.85, its previous closing level.

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

source http://www.mt5.com/forex_news/quickview/2178820/

Australian Dollar Outlook: Lockdowns Straining AUD’s Path, RBA Outlook

AUD/USD is under pressure as Australia enacts a new round of lockdowns amid worries about the quickly spreading Delta variant of Covid-19. A speech from RBA Governor Philip Lowe is eyed. Via DailyFX - Market News https://ift.tt/32vveVH

*Lithuania May Retail Sales Up 1.7% On Month

Lithuania May Retail Sales Up 1.7% On Month

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

source http://www.mt5.com/forex_news/quickview/2178789/

Malaysia Exports Rises Less Than Expected

Malaysia's exports rose less than expected in May, data from the Department of Statistics showed on Monday.

Exports surged 47.3 percent year-on-year to MYR 92.3 billion in May. Economists had expected a rise of 52.4 percent.

Imports grew 50.3 percent annually to MYR 78.6 billion in May.

The trade surplus totaled MYR 13.7 billion in May, which was below the expected level of MYR 18.0 billion, the agency said.

On a monthly basis, exports declined 12.6 percent in May and imports decreased 7.8 percent.

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

source http://www.mt5.com/forex_news/quickview/2178787/

*Norway May Retail Sales +5.8% On Month Vs. +0.4% In April

Norway May Retail Sales +5.8% On Month Vs. +0.4% In April

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

source http://www.mt5.com/forex_news/quickview/2178786/

*Norway May Retail Sales +5.6% On Year Vs. +2.9% In April

Norway May Retail Sales +5.6% On Year Vs. +2.9% In April

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

source http://www.mt5.com/forex_news/quickview/2178785/

*Germany May Import Prices Rise 1.7% On Month, Consensus 1.5%

Germany May Import Prices Rise 1.7% On Month, Consensus 1.5%

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

source http://www.mt5.com/forex_news/quickview/2178783/

*Germany May Import Prices Up 11.8% Annually, Consensus 11.3%

Germany May Import Prices Up 11.8% Annually, Consensus 11.3%

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

source http://www.mt5.com/forex_news/quickview/2178784/

BoJ Summary: Inflation Likely To Rise In H2 2021

Japan's inflation is likely to rise in the second half of 2021 as pent-up demand starts materializing, Bank of Japan policymakers said at the monetary policy meeting held on June 17 and 18.

According to the summary of opinions, inflation is set to be around zero percent in the short run.

Inflation is expected to increase gradually, mainly on the back of continued improvement in economic activity, a rise in energy prices, and a dissipation of the effects of a reduction in mobile phone charges.

Nonetheless, inflationary pressure is expected be only transitory due to an entrenched deflationary mindset.

As vaccinations have been progressing rapidly of late, Japan's economy is expected to recover to a certain extent in the short run, a member said.

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

source http://www.mt5.com/forex_news/quickview/2178782/

Australian Dollar Forecast: AUD/USD Consolidating as Key Resistance Holds

AUD reaction to renewed lockdown limited, key US data to driver sentiment this week. Via DailyFX - Market News https://ift.tt/32vveVH

European Economics Preview: Germany Import Price Data Due

Import price data from Germany is due on Monday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis is slated to publish Germany's import price data for May. Economists forecast import prices to climb 11.3 percent annually versus a 10.3 percent rise in April.

In the meantime, Statistics Norway releases retail sales data for May.

At 3.30 am ET, retail sales and household lending data is due from Sweden.

Half an hour later, IHS Markit publishes Austria's manufacturing Purchasing Managers' survey results for June.

At 6.00 am ET, Ireland's retail sales data is due for May. Sales had increased 7.4 percent on month in April.

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

source http://www.mt5.com/forex_news/quickview/2178781/

*Germany Import Price Data Due At 2.00 AM ET

Germany Import Price Data Due At 2.00 AM ET

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

source http://www.mt5.com/forex_news/quickview/2178780/

*Finland Jun Industrial Sentiment 20 Vs. 14 In May

Finland Jun Industrial Sentiment 20 Vs. 14 In May

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

source http://www.mt5.com/forex_news/quickview/2178779/

*Finland Jun Consumer Confidence 4.6 Vs. 2.7 In May

Finland Jun Consumer Confidence 4.6 Vs. 2.7 In May

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

source http://www.mt5.com/forex_news/quickview/2178778/

*Malaysia May Imports Up 50.3% On Year

Malaysia May Imports Up 50.3% On Year

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

source http://www.mt5.com/forex_news/quickview/2178777/

*Malaysia May Exports Up 47.3% On Year, Consensus +52.4%

Malaysia May Exports Up 47.3% On Year, Consensus +52.4%

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source http://www.mt5.com/forex_news/quickview/2178776/

*Malaysia May Trade Surplus MYR 13.7 Billion, Consensus MYR 18.0 Billion

Malaysia May Trade Surplus MYR 13.7 Billion, Consensus MYR 18.0 Billion

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

source http://www.mt5.com/forex_news/quickview/2178775/

British Pound Price Outlook: Unfazed by Political Rout, GBP/USD Picking Up Bullish Momentum

GBP/USD is building up to a bullish breakout after bouncing off trendline support Via DailyFX - Market News https://ift.tt/32vveVH

Crude Oil Prices Hit $74 ahead of OPEC+ Meeting on Demand Optimism

WTI crude oil prices hit fresh two-and-half year highs as the demand outlook strengthens. OPEC+ is planning to raise output at a meeting this week amid tightened market conditions. 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

Gold Prices Fall After US PCE Data Strengthens Fed Tapering Bets

Gold prices extended lower after US core PCE growth hit the highest level since 1992, reaffirming inflationary pressures. Boston Fed President Eric Rosengren hinted at first rate hike by the end of... Via DailyFX - Market News https://ift.tt/32vveVH

How to Manage the Emotions of Trading

Controlling emotions while trading can prove to be the difference between success and failure. Via DailyFX - Market News https://ift.tt/32vveVH

S&P 500 Hits All-Time High, Lifting Hang Seng and ASX 200 Sentiment

Wall Street stocks rallied on Friday despite a moderate pullback in the tech sector. Tesla will recall over 285k cars in China. NBS manufacturing PMI and US nonfarm payrolls data are in focus this ... Via DailyFX - Market News https://ift.tt/32vveVH

Australian Dollar Forecast: AUD/USD Takes Hit on New Covid Lockdowns

AUD/USD is under pressure as Australia enacts a new round of lockdowns amid worries about the quickly spreading Delta variant of Covid-19. A speech from RBA Governor Lowe is eyed. Via DailyFX - Market News https://ift.tt/32vveVH

The Basics of Technical Analysis

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

Markets Week Ahead: Dow Jones, US Dollar, Non-Farm Payrolls, Crude Oil, OPEC+

Market sentiment is mending again, with the Dow Jones, DAX 30 and CSI 300 on the rise despite Fed tapering bets being brought forward. The US Dollar is eyeing non-farm payrolls data. Crude oil pric...

Markets Week Ahead: Dow Jones, US Dollar, Non-Farm Payrolls, Crude Oil, OPEC+

Market sentiment is mending again, with the Dow Jones, DAX 30 and CSI 300 on the rise despite Fed tapering bets being brought forward. The US Dollar is eyeing non-farm payrolls data. Crude oil pric... Via DailyFX - Market News https://ift.tt/32vveVH

Forex Vs Stocks: Top Differences & How to Trade Them

Learn the main differences between forex and stocks to understand the best market to trade based on your trading style and strategy. Via DailyFX - Market News https://ift.tt/32vveVH

Dow Jones & DAX 30 Forecasts for the Week Ahead

The Dow Jones might struggle to regain its footing as investors look to rotate out of value stocks and back into high-growth technology stocks. Meanwhile, the DAX 30 awaits inflation and employment...

Dow Jones & DAX 30 Forecasts for the Week Ahead

The Dow Jones might struggle to regain its footing as investors look to rotate out of value stocks and back into high-growth technology stocks. Meanwhile, the DAX 30 awaits inflation and employment... Via DailyFX - Market News https://ift.tt/32vveVH

What is Earnings Season & What to Look for in Earnings Reports?

Earnings announcements are a key driver for stock prices: Learn the what and when of earnings. Via DailyFX - Market News https://ift.tt/32vveVH

Mexican Peso Forecast: USD/MXN Balance of Risks Appears Tilted to the Downside

The possibility of Banxico embarking on an aggressive tightening cycle and positive risk sentimentshould drive USD/MXN lower in the near term, with the 2021 low being the immediate focus.

Mexican Peso Forecast: USD/MXN Balance of Risks Appears Tilted to the Downside

The possibility of Banxico embarking on an aggressive tightening cycle and positive risk sentimentshould drive USD/MXN lower in the near term, with the 2021 low being the immediate focus. Via DailyFX - Market News https://ift.tt/32vveVH

Euro Forecast: Inflation Data May Prompt Fall in EUR/USD Price

EUR/USD has been on a roller coaster ride over the past fortnight; its next move could be lower, triggered by the coming week’s Eurozone inflation numbers.

Euro Forecast: Inflation Data May Prompt Fall in EUR/USD Price

EUR/USD has been on a roller coaster ride over the past fortnight; its next move could be lower, triggered by the coming week’s Eurozone inflation numbers. 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

Gold Weekly Forecast: XAU/USD Performance Contingent on NFP Data

Gold is back within its April range as investor’s try and balance inflation data

Gold Weekly Forecast: XAU/USD Performance Contingent on NFP Data

Gold is back within its April range as investor’s try and balance inflation data Via DailyFX - Market News https://ift.tt/32vveVH

Crude Oil Price Outlook: OPEC+ Meeting, Iran Talks In Focus

Crude oil price outlook for the week ahead is juxtaposed by the prospect of OPEC+ boosting production and Iran nuclear deal discussions being delayed. Where is the commodity headed next?

Crude Oil Price Outlook: OPEC+ Meeting, Iran Talks In Focus

Crude oil price outlook for the week ahead is juxtaposed by the prospect of OPEC+ boosting production and Iran nuclear deal discussions being delayed. Where is the commodity headed next? Via DailyFX - Market News https://ift.tt/32vveVH

The Federal Reserve Bank: A Forex Trader’s Guide

Learn about the US central bank, its key mandates, and how to trade Fed interest rate decisions. Via DailyFX - Market News https://ift.tt/32vveVH

US Dollar Hit with Dovish Fed Rhetoric Ahead of NFP Report

Fresh data prints coming out of the US may prop up the Dollar as Non-Farm Payrolls (NFP) are expected to increase for the sixth consecutive month.

US Dollar Hit with Dovish Fed Rhetoric Ahead of NFP Report

Fresh data prints coming out of the US may prop up the Dollar as Non-Farm Payrolls (NFP) are expected to increase for the sixth consecutive month. Via DailyFX - Market News https://ift.tt/32vveVH

Copper Trading: Copper Trading Tips and Strategies

Copper may not be the world's most popular metal but it certainly is one of the more important. Via DailyFX - Market News https://ift.tt/32vveVH

Bitcoin (BTC), Ethereum (ETH) Slump Going Into a Potentially Volatile Weekend

The cryptocurrency is a sea of red again and has given back nearly all of this week’s mini-rebound. Weekend volatility could see more losses.

Bitcoin (BTC), Ethereum (ETH) Slump Going Into a Potentially Volatile Weekend

The cryptocurrency is a sea of red again and has given back nearly all of this week’s mini-rebound. Weekend volatility could see more losses. Via DailyFX - Market News https://ift.tt/32vveVH

Dollar Recovers After Mid Session Setback

The U.S. dollar depreciated against its most major counterparts in the European session on Friday, as the nation's personal income slumped in May, easing fears over a faster tightening of monetary policy by the U.S. Federal Reserve.

The currency recovered from lows post noon and even managed to gain some ground against some of its rivals.

In economic news today, a report from the Commerce Department showed the annual rate of core consumer price growth in May matched economist estimates. The reading on inflation said to be preferred by the Fed showed the annual rate of core consumer price growth accelerated to 3.4% in May from 3.1% in April.

According to the data released by the Commerce Department, personal income slumped by 2% in May after plunging by 13.1% in April. Economists had expected personal income to tumble by 2.5%.

Meanwhile, the report showed personal spending was virtually unchanged in May after climbing by 0.9% in April. Personal spending was expected to rise by 0.4%.

A report from the University of Michigan said that its consumer sentiment reading for the US was revised lower to 85.5 in June from a preliminary reading of 86.4. Although market had expected to score to come in at 87.4, it still remained the second-highest since start of the pandemic.

The currency was further weighed by stimulus optimism, after President Joe Biden announced that the White House has reached an infrastructure deal with U.S. Senators worth $579 billion.

The agreement proposes spending to rebuild roads, bridges and other traditional infrastructure over the next five years.

The package is expected to generate "millions" of jobs and will be funded through unused coronavirus aid money and returned state jobless benefits.

The dollar index dropped to 91.53 around mid morning, but rallied to 91.88 later on in the day. It was last seen at 91.80, down slightly from the previous close.

Against the Euro, the dollar was slightly weak at $1.1937, after recovering from $1.1977.

Against Pound Sterling, the dollar firmed to $1.3879, gaining from $1.3922.

The Yen gained marginally at 110.79 a dollar.

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

source http://www.mt5.com/forex_news/quickview/2178774/

Oil Futures Settle Higher On Demand Hopes

Crude oil futures closed higher on Friday as optimism about outlook for energy demand outweighed concerns about possible excess supply in the market in the event of OPEC+ deciding to increase crude production.

Thanks to the momentum in vaccine rollouts and the reopening of the economies in the U.S. and several counties across Europe, traders are betting on hopes energy demand will see a significant rise.

West Texas Intermediate Crude oil futures for August ended up by $0.75 or about 1% at $74.05 a barrel. WTI crude futures gained more than 3% in the week, gaining for a fifth straight week.

Brent Crude futures were up $0.46 or 0.61% at $76.02 a barrel a little while ago.

The Organization of the Petroleum Exporting Countries and their allies are scheduled to meet on July 1 to discuss further easing of their output cuts from August. The group had previously agreed to gently raise production until the end of July.

It is widely expected that producers will take a cautious approach to output increases and will try to balance the market's need for more supply against the fragile nature of the recovery in demand.

A report released by Baker Hughes Friday afternoon showed the number of oil and gas rigs in the United States stayed the same this week, at 470. U.S. oil and gas rig count had increased by 9 in the previous week. The total number of active oil and gas drilling rigs in the U.S. is now up by 205 than around the same time last year. The oil rig count fell by 1 this week to 372, while the number of gas rigs increased by 1 to 98.

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

source http://www.mt5.com/forex_news/quickview/2178773/

Gold Futures Settle Slightly Up For The Day, Gains 0.5% In Week

Gold prices edged up marginally on Friday and the most active gold futures contract recorded its first weekly gain in about a month.

A weak dollar supported gold's uptick. The dollar index, which dropped to 91.53 around mid morning, recovered lost ground and moved slightly above the flat line around mid afternoon. It was last seen at 91.87, up 0.06% from Thursday's close.

Gold futures for August ended up by $1.10 at $1,777.80 an ounce. Gold futures gained about 0.5% in the week, after posting losses in the previous three weeks.

Silver futures for July settled higher by $0.037 at $26.087 an ounce, while Copper futures for July settled at $4.2920 per pound, down $0.0190 from the previous close.

Despite Federal Reserve's forecast for rate hikes in 2023, traders seem to be coming to terms with the fact that tighter monetary policy is not imminent.

In economic news today, a report from the Commerce Department showed the annual rate of core consumer price growth in May matched economist estimates. The reading on inflation said to be preferred by the Fed showed the annual rate of core consumer price growth accelerated to 3.4 percent in May from 3.1 percent in April.

According to the data released by the Commerce Department, personal income slumped by 2% in May after plunging by 13.1% in April. Economists had expected personal income to tumble by 2.5%.

Meanwhile, the report showed personal spending was virtually unchanged in May after climbing by 0.9% in April. Personal spending was expected to rise by 0.4%.

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

source http://www.mt5.com/forex_news/quickview/2178772/

Australian Dollar Outlook: AUD/USD, S&P 500, Chinese Stocks Rise. Fedspeak, NFPs Eyed

The Australian Dollar recovered with the S&P 500 and Shanghai Composite. Was it another overreaction to the Fed? AUD/USD turns to RBA Governor Philip Lowe, Fedspeak and US NFPs next.

Australian Dollar Outlook: AUD/USD, S&P 500, Chinese Stocks Rise. Fedspeak, NFPs Eyed

The Australian Dollar recovered with the S&P 500 and Shanghai Composite. Was it another overreaction to the Fed? AUD/USD turns to RBA Governor Philip Lowe, Fedspeak and US NFPs next. Via DailyFX - Market News https://ift.tt/32vveVH

How to Learn Technical Analysis with DailyFX

Getting started in technical analysis can seem daunting but understanding the basics will build a solid foundation. Learn more... Via DailyFX - Market News https://ift.tt/32vveVH

*Singapore May Industrial Production +7.2% On Month Vs. -0.4% In Apr, Consensus -0.9%

Singapore May Industrial Production +7.2% On Month Vs. -0.4% In Apr, Consensus -0.9%

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

source http://www.mt5.com/forex_news/quickview/2178731/

*Singapore May Industrial Production +30.0% On Year Vs. +2.3% In Apr, Consensus +23.6%

Singapore May Industrial Production +30.0% On Year Vs. +2.3% In Apr, Consensus +23.6%

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

source http://www.mt5.com/forex_news/quickview/2178730/

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

*Malaysia May Inflation 4.4% Vs. 4.7% In Apr, Consensus 4.7%

Malaysia May Inflation 4.4% Vs. 4.7% In Apr, Consensus 4.7%

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

source http://www.mt5.com/forex_news/quickview/2178729/

British Pound (GBP/USD) Struggling to Regain Trend Support, US Inflation Data Nears

GBP/USD currently trades either side of 1.3900 after yesterday’s neutral Bank of England meeting left hawks mildly disappointed. Via DailyFX - Market News https://ift.tt/32vveVH

Gold Prices May Fall as US PCE Data Stokes Fed Rate Hike Bets

Gold prices may resume last week’s violent selloff if the US PCE inflation gauge overshoots forecasts, reviving accelerated Fed rate hike speculation. Via DailyFX - Market News https://ift.tt/32vveVH

The Most Volatile Currency Pairs and How to Trade Them

Find out what currency pairs may show the most volatility, and how you can tailor your strategy to capitalize on market volatility. Via DailyFX - Market News https://ift.tt/32vveVH

Crude Oil Prices at Risk as Chart Setup Hints at Fading Momentum

Crude oil prices may turn lower as technical positioning warns that upside momentum may be fading. May’s US PCE report is focus as Fed policy speculation continues to swirl. Via DailyFX - Market News https://ift.tt/32vveVH

Tokyo Overall Annual Inflation Unchanged In June

Overall consumer prices in Tokyo were flat on year in June, the Ministry of Internal Affairs and Communications said on Friday.

That exceeded expectations for a decline of 0.1 percent following the 0.4 percent decline in May.

Core CPI, which excludes volatile food prices, also was unchanged on a yearly basis versus forecasts for a decline of 0.1 percent after slipping 0.2 percent in the previous month.

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

On a seasonally adjusted monthly basis, overall inflation was up 0.3 percent and core CPI rose 0.1 percent.

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

source http://www.mt5.com/forex_news/quickview/2178728/

*Tokyo Overall Inflation Flat On Year In June; Core CPI Also Flat On Year

Tokyo Overall Inflation Flat On Year In June; Core CPI Also Flat On Year

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

source http://www.mt5.com/forex_news/quickview/2178727/

New Zealand Has NZ$469 Million Trade Surplus

New Zealand posted a merchandise trade surplus of NZ$469 million in May, Statistics New Zealand said on Friday.

That was up from the upwardly revised NZ$414 million surplus in April (originally NZ$388 million).

Imports skyrocketed NZ$1.3 billion of 31 percent on year to NZ$5.4 billion, up from the upwardly revised NZ$4.99 billion figure in the previous month (originally NZ$4.98 billion).

"May 2021 had the largest all-time value in imports of cars for any month," international trade manager Alasdair Allen said. "The big monthly rise in vehicle imports was largely due to a recovery from the COVID-19 pandemic."

Exports rose NZ$461 million or 8.5 percent on year to NZ$5.87 billion, up from the upwardly revised NZ$5.4 billion figure a month earlier (originally NZ$5.37 billion).

Monthly goods exports were up MZ$461 million to $5.9 billion. This was driven by dairy products, up NZ$154 million (12 percent) to NZ$1.5 billion from May 2020.

The increase was driven by milk powder which rose NZ$129 million (18 percent) in value, and 18 percent in quantity. Other drivers included fresh milk, up NZ$33 million (42 percent) in value, and 55 percent in quantity.

The exports increase was also driven by logs, wood, and wood articles, up NZ$108 million. This was led by a large rise in untreated logs, up NZ$104 million (35 percent), and 32 percent in quantity.

"Exports of logs have been recovering steadily over the last four months," Allen said.

On an yearly basis, annual goods exports were valued at NZ$59.5 billion, down NZ$592 million (1.0 percent) from the previous year.

Annual goods imports were valued at NZ$59.6 billion, down NZ$1.8 billion (2.9 percent) from the previous year.

In the year ended May 2021, the annual goods trade balance was a deficit of NZ$62 million.

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

source http://www.mt5.com/forex_news/quickview/2178726/

New Zealand May Trade Surplus NZ$469 Million

New Zealand had a merchandise trade surplus of NZ$469 million in May, Statistics New Zealand said on Friday.

That was up from the upwardly revised NZ$414 million surplus in April (originally NZ$388 million).

Imports skyrocketed NZ$1.3 billion of 31 percent on year to NZ$5.4 billion, up from the upwardly revised NZ$4.99 billion figure in the previous month (originally NZ$4.98 billion).

Exports rose NZ$461 million or 8.5 percent on year to NZ$5.87 billion, up from the upwardly revised NZ$5.4 billion figure a month earlier (originally NZ$5.37 billion).

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

source http://www.mt5.com/forex_news/quickview/2178725/

*New Zealand Has NZ$469 Million Trade Surplus In May

New Zealand Has NZ$469 Million Trade Surplus In May

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

source http://www.mt5.com/forex_news/quickview/2178723/

*New Zealand Imports +31.0% On Year In May; Exports +8.5%

New Zealand Imports +31.0% On Year In May; Exports +8.5%

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

source http://www.mt5.com/forex_news/quickview/2178724/

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

New Zealand Trade Data Due On Friday

New Zealand will on Friday release May numbers for imports, exports and trade balance, highlighting a light day for Asia-Pacific economic activity.

In April, imports were worth NZ$4.98 billion and exports were at NZ$5.37 billion for a trade surplus of NZ$388 million.

Japan will see June figures for Tokyo inflation; in May, overall CPI was down 0.4 percent on year and core CPI was down an annual 0.2 percent.

Singapore will provide May figures for industrial production; in April, output was up 1.0 percent on month and 2.1 percent on year.

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

source http://www.mt5.com/forex_news/quickview/2178722/

Dollar Turns In Mixed Performance Against Peers As Risk Sentiment Improves

The U.S. dollar turned in a slightly volatile performance on Thursday as traders reacted to a slew of upbeat U.S. economic data, and the Bank of England's monetary policy announcement.

The Labor Department's report showed initial jobless claims in the U.S. edged down to 411,000 in the week ended June 19th, a decrease of 7,000 from the previous week's revised level of 418,000. Economists had expected jobless claims to drop to 380,000 from the 412,000 originally reported for the previous week.

Data from the Commerce Department showed that new orders for U.S. manufactured durable goods rebounded in the month of May, surging up by 2.3%, after falling by a revised 0.8% in April. Economists had expected durable goods orders to spike by 2.7% compared to the 1.3% slump that had been reported for the previous month.

A separate report showed that the pace of U.S. economic growth in the first quarter of 2021 was unrevised from the previous estimate.

The report said real gross domestic product spiked by 6.4% in the first quarter, matching the estimate provided last month as well as economist estimates.

The dollar index, which dropped to 91.66 post release of the data on jobless claims, durable goods orders and GDP, recovered to 91.91 subsequently, and was last seen hovering around 91.80.

Against the Euro, the U.S. dollar recovered to 1.1934 from 1.1958.

The Pound Sterling weakened against the dollar, fetching $1.3926 per unit, about 0.26% less than Wednesday's close of $1.3962. The Bank of England today kept its key interest rate and quantitative easing unchanged, as widely expected. The nine-member Monetary Policy Committee headed by Andrew Bailey unanimously decided to hold the benchmark rate at a record low of 0.1%.

The central bank retained the existing stock of corporate bond purchases at GBP 20 billion and the government bond purchases at GBP 875 billion, taking the size of total quantitative easing to GBP 895 billion.

The Yen gained marginally against the dollar, firming to 110.88 from 110.95.

Against the Aussie, the dollar was slightly weak at 0.7583, compared to 0.7575 Wednesday evening.

The Swiss franc gained marginally at CHF 0.9179 a dollar, up from CHF 0.9185, while the Loonie weakened to 1.2324 a dollar from 1.2306.

Statistics Canada said that according to a flash estimate, Canada's manufacturing sales went up 1% from a month earlier in May, rebounding from a 2.1% drop in April, on the back of a widespread recovery across Canadian industries.

Wholesale sales in Canada likely advanced by 1.1% month-over-month in May of 2021, following a 0.4% rise in the previous month, preliminary estimates showed. The increase reflects higher sales in the machinery, equipment and supplies subsector.

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

source http://www.mt5.com/forex_news/quickview/2178721/

Dow Jones Rebound May Lift Sentiment for Nikkei 225 and ASX 200

Wall Street stocks rallied following the approval of a $579 billion infrastructure deal. The S&P 500 and Nasdaq 100 both hit all-time highs. Asia-Pacific markets may follow a positive lead and trad... Via DailyFX - Market News https://ift.tt/32vveVH

Treasuries Close Nearly Unchanged Following Lackluster Session

After ending the previous session modestly lower, treasuries showed a lack of direction over the course of the trading day on Thursday.

Bond prices spent much of the day lingering near the unchanged line before closing nearly flat. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, ended the day unchanged at 1.487 percent.

The lackluster performance by treasuries came as the day's economic data painted a positive picture but missed economist estimates.

Early in the day, the Labor Department released a report showing a modest decrease in first-time claims for U.S. unemployment benefits in the week ended June 19th.

The Labor Department said initial jobless claims edged down to 411,000, a decrease of 7,000 from the previous week's revised level of 418,000.

However, economists had expected jobless claims to drop to 380,000 from the 412,000 originally reported for the previous week.

A separate report from the Commerce Department showed new orders for U.S. manufactured durable goods rebounded in the month of May but fell short of expectations.

The report said durable goods orders surged up by 2.3 percent in May after falling by a revised 0.8 percent in April.

Economists had expected durable goods orders to spike by 2.7 percent compared to the 1.3 percent slump that had been reported for the previous month.

Excluding orders for transportation equipment, durable goods orders rose by 0.3 percent in May after jumping by 1.7 percent in April. Ex-transportation orders were expected to increase by 0.7 percent.

Bond traders also shrugged off the results of the Treasury Department's auction of $62 billion worth of seven-year notes, which attracted modestly above average demand.

The seven-year note auction drew a high yield of 1.264 percent and a bid-to-cover ratio of 2.36, while the ten previous seven-year note auctions had an average bid-to-cover ratio of 2.31.

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

Earlier this week, the Treasury revealed its auction of $60 billion worth of two-year notes attracted average demand, while its auction of $61 billion worth of five-year notes attracted slightly below average demand.

Trading on Friday may be impacted by reaction to a report on personal income and spending, which includes a reading on inflation said to be preferred by the Federal Reserve.

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

source http://www.mt5.com/forex_news/quickview/2178720/

Crude Oil Futures Settle Modestly Higher

Crude oil futures settled slightly higher on Thursday, continuing to benefit from Wednesday's official data that showed a larger than expected drop in U.S. crude inventories last week.

However, with the Organization of the Petroleum Exporting Countries and their allies set to discuss rising crude production beyond July, the uptick in oil prices was just modest today.

West Texas Intermediate Crude oil futures for August ended up by $0.22 or about 0.3% at $73.30 an ounce,

Brent crude futures were up $0.25 or 0.35% at $75.45 a barrel a little while ago.

Data released by Energy Information Administration (EIA) on Wednesday showed crude inventories in the U.S. fell by 7.614 million barrels last week, declining for a fifth straight week. Analysts had expected crude inventories to drop by about 3.9 million barrels in the week.

Iran said on Wednesday the United States had agreed to remove all sanctions on Iran's oil and shipping, although Germany cautioned that Tehran and the powers still had to overcome significant hurdles. The U.S. has said that "nothing is agreed until everything is agreed in talks to revive the 2015 Iran nuclear deal.

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

source http://www.mt5.com/forex_news/quickview/2178719/

Gold Futures Settle Lower

Gold futures settled lower on Thursday as traders chose to pick up riskier assets such as equities amid rising optimism about strong economic recovery.

The dollar's recovery from earlier lows weighed as well on bullion prices. The dollar index, which dropped to 91.66 in the European session, recovered to 91.91 subsequently before paring gains, dropping to 91.81.

Investors appeared confused about the Federal Reserve's future policy stance after Fed officials came out with mixed views on inflation and the rate outlook.

Both Atlanta Fed President Raphael Bostic and Fed Governor Michelle Bowman said that recent price increases are likely to be temporary, but it may take longer than anticipated to fade. Bostic projected a rate hike in late 2022, citing faster growth and higher inflation.

Separately, Dallas Fed President Robert Kaplan said that the economy will likely meet the Fed's requirements for stimulus withdrawal sooner than thought.

Gold futures for August ended down by $6.70 or about 0.4% at $1,776.70 an ounce. Gold futures had ended with a modest gain of about 0.3% on Wednesday.

Silver futures for July ended lower by $0.061 or about 0.2% at $26.050 an ounce, while Copper futures for July settled at $4.3110 per pound, down $0.0195 or 0.5% from the previous close.

A report released by the Labor Department said initial jobless claims edged down to 411,000 in the week ended June 19th, a decrease of 7,000 from the previous week's revised level of 418,000. Economists had expected jobless claims to drop to 380,000 from the 412,000 originally reported for the previous week.

The Commerce Department released a report showing the pace of U.S. economic growth in the first quarter of 2021 was unrevised from the previous estimate.

The report said real gross domestic product spiked by 6.4% in the first quarter, matching the estimate provided last month as well as economist estimates.

The Bank of England today kept its key interest rate and quantitative easing unchanged, as widely expected. The nine-member Monetary Policy Committee headed by Andrew Bailey unanimously decided to hold the benchmark rate at a record low of 0.1%.

The central bank retained the existing stock of corporate bond purchases at GBP 20 billion and the government bond purchases at GBP 875 billion, taking the size of total quantitative easing to GBP 895 billion.

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

source http://www.mt5.com/forex_news/quickview/2178718/

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

New Zealand Dollar Forecast: Improved Trade Balance, Westpac OCR Update to Lift NZD?

New Zealand reported positive trade data for May as the New Zealand Dollar gained against the US Dollar following a technical victory overnight. Via DailyFX - Market News https://ift.tt/32vveVH

European Economics Preview: Bank Of England Policy Announcement Due

The monetary policy announcement from the Bank of England is due on Thursday, headlining a busy day for the European economic news.

At 2.00 am ET, Destatis is slated to issue Germany's import prices for May. Import price inflation is seen rising to 11.3 percent from 10.3 percent in April.

At 2.45 am ET, the French statistical office Insee releases business sentiment survey results. The confidence index is seen rising to 109 in June from 107 in May.

At 3.00 am ET, Spain's revised GDP data is due. The economy is forecast to shrink 0.5 percent sequentially in the first quarter, as initially estimated.

At 4.00 am ET, Germany's ifo business confidence survey results are due. The business sentiment index is forecast to rise to 100.6 in June from 99.2 a month ago.

In the meantime, the European Central Bank releases economic bulletin. Also, Poland's unemployment data is due. Economists expect the jobless rate to fall to 6.1 percent in May from 6.3 percent in April.

At 7.00 am ET, the Bank of England's monetary policy announcement and the minutes of the meeting are due. Markets widely expect the monetary policy committee to hold the interest rate unanimously at 0.1 percent and the quantitative easing at GBP 875 billion.

Although the bank is expected to bring forward the timing of the first rate hike, policymakers are likely to avoid offering any hints at the meeting.

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

source http://www.mt5.com/forex_news/quickview/2178646/

FTSE 100 Outlook: Trendline Support Becomes Resistance as Momentum Shifts

The FTSE 100 falls below key resistance as bearish pressure increases Via DailyFX - Market News https://ift.tt/32vveVH

*Finland May Producer Prices Up 11.2% Y/Y, 2.3% M/M

Finland May Producer Prices Up 11.2% Y/Y, 2.3% M/M

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

source http://www.mt5.com/forex_news/quickview/2178645/

*Dutch Q1 GDP Down 0.8% On Quarter

Dutch Q1 GDP Down 0.8% On Quarter

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

source http://www.mt5.com/forex_news/quickview/2178644/

*Dutch Q1 GDP Down 2.4% On Year Vs. 2.9% In Q4

Dutch Q1 GDP Down 2.4% On Year Vs. 2.9% In Q4

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

source http://www.mt5.com/forex_news/quickview/2178643/

Bank of England Preview: How Will the Pound (GBP) React?

BoE to maintain policy settings, while risks lean towards a more hawkish statement. Via DailyFX - Market News https://ift.tt/32vveVH

US Dollar (USD) Price Outlook: Friday's US Inflation Data to Determine Next Move

The US Dollar will likely trade narrowly ahead of Friday’s US core PCE data, the Fed’s favorite measure of inflation, which will likely determine the next major move for the currency. Via DailyFX - Market News https://ift.tt/32vveVH

How to Trade After a News Release

Looking to trade post release? Read on for more on approaching volatile conditions after news events. Via DailyFX - Market News https://ift.tt/32vveVH

Natural Gas Forecast: Prices Rise as US Heat Wave Drives Demand Narrative

Natural gas prices have recaptured a key trendline after a major heatwave sent energy demand in the United States soaring. Via DailyFX - Market News https://ift.tt/32vveVH

Top 10 Candlestick Patterns To Trade the Markets

Discover the 10 most reliable candlestick patterns for trading the financial markets. Via DailyFX - Market News https://ift.tt/32vveVH

Gold, Crude Oil Price Forecast: Fed Narrative May be Challenged on US PCE, Durable Goods

Gold and crude oil prices may see volatility in the days ahead with several potentially high-impact events on tap, with PCE looking to cap off the week. Via DailyFX - Market News https://ift.tt/32vveVH

Philippines Rate Decision Due On Thursday

The central bank in the Philippines will wrap up its monetary policy meeting on Thursday and then announce its decision in interest rates, highlighting a light day for Asia-Pacific economic activity. The bank is widely expected to keep its benchmark lending rate steady at 2.00 percent.

Indonesia will see May data for loan growth; in April, growth was at -2.28 percent on year.

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

source http://www.mt5.com/forex_news/quickview/2178642/

Central Bank Watch: Fed Speeches, Interest Rate Expectations Update

The June FOMC is in the rearview mirror, and Fed policymakers are attempting to shape the narrative around what exactly normalization means. Via DailyFX - Market News https://ift.tt/32vveVH

South Korea Consumer Sentiment Improves In June - BoK

Consumer sentiment in South Korea strengthened in June, the Bank of Korea said on Thursday with a composite consumer sentiment index score of 110.3 - up from 105.2 in May.

Consumer sentiment regarding current living standards was unchanged, at 93, while the outlook was two points higher at 95.

Consumer sentiment related to future household income was two points higher at 100, while the outlook was five points higher at 113.

Consumer sentiment concerning current domestic economic conditions was nine points at 94, while the outlook was 10 points higher at 109.

The expected inflation rate for the following year was 2.3 percent.

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

source http://www.mt5.com/forex_news/quickview/2178641/

*South Korea Consumer Confidence Index 110.3 In June - BoK

South Korea Consumer Confidence Index 110.3 In June - BoK

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

source http://www.mt5.com/forex_news/quickview/2178640/

Dollar Edges Higher After Mid-session Setback

The U.S. dollar moved slightly higher in the Asian session on Wednesday, recovering from losses in the previous session, but gave up gains in the European session before rebounding into positive territory later on in the day.

Traders digested mixed comments from Fed officials regarding scaling back of the stimulus measures.

"We will not raise interest rates pre-emptively because we fear the possible onset of inflation. We will wait for evidence of actual inflation or other imbalances," Powell said in a hearing before the House Select Subcommittee on the Coronavirus Crisis on Tuesday.

A report released by the Commerce Department said new home sales tumbled by 5.9% to an annual rate of 769,000 in May after plunging by 7.8% to a downwardly revised rate of 817,000 in April.

The continued decrease surprised economists, who had expected new home sales to climb 0.8% to a rate of 870,000 from the 863,000 originally reported for the previous month.

With the continued nosedive, new home sales fell to their lowest annual rate since hitting 704,000 in May of last year.

The dollar index slid to 91.51, but later rose to 91.90, gaining nearly 0.15%.

Against the Euro, the dollar strengthened to $1.1926, gaining 0.15%. Flash survey data from IHS Markit showed that the euro area private sector grew at the fastest rate in 15 years in June as the economy re-opened further from virus-fighting restrictions and vaccine progress boosted confidence. At 59.2, the flash composite output index hit a 180-month high, up from 57.1 in May.

The services Purchasing Managers' Index advanced to 58.0 in June from 55.2 in the previous month, while the manufacturing PMI held steady at 63.1 in June.

The Pound Sterling gained 0.1% against the dollar, fetching $1.3963 a unit. The flash composite output index for U.K. dropped to 61.7 in June from 62.9 in May.

The rate of input cost inflation accelerated for the fifth month running and was the joint-fastest on record. In turn, the rate of output price inflation hit a fresh record high for the second month running.

The Yen weakened to 110.98, giving up nearly 0.3%. The manufacturing sector in Japan continued to expand in June, albeit at a slower pace, the latest survey from Jibun Bank revealed on Wednesday with a manufacturing PMI score of 51.5.

That's down from 53.0 in May, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

The dollar lost ground against the Aussie, sliding to 0.7574, from Tuesday's close of 0.7554.

The dollar gained marginally against Swiss franc, fetching CHF 0.9183 a unit, and flat against the Loonie, quoting at C$1.2307.

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

source http://www.mt5.com/forex_news/quickview/2178639/

S&P 500 Retreats as Investors Mull Tapering, Hang Seng and ASX 200 May Fall

The S&P 500 index pulled back slightly as several Fed officials gave hawkish signals. The 2-year Treasury yield climbed to a 14-month high. APAC markets opened mixed. Via DailyFX - Market News https://ift.tt/32vveVH

Bitcoin (BTC) Analysis: Dead Cat Bounce After Death Cross, or New Bull Market?

The formation of a “Death Cross” on Bitcoin’s daily chart paints a bleak picture for the cryptocurrency, following a test of yearly lows around $28,800. Via DailyFX - Market News https://ift.tt/32vveVH

Oil Futures Settle Modestly Higher As Crude Inventories Drop

Oil prices rose on Wednesday after official data showed a larger than expected decline in U.S. crude inventories in the week ended June 18.

However, possibility of increased output from major oil producers in the coming months limited oil's surge.

West Texas Intermediate crude oil futures for August ended up by $0.23 or about 0.3% at $73.08 a barrel, the highest level since October 2018.

Brent crude futures gained $0.38 or 0.5% to $75.19 a barrel.

Data released by Energy Information Administration (EIA) showed crude inventories in the U.S. fell by 7.614 million barrels last week, declining for a fifth straight week. Analysts had expected crude inventories to drop by about 3.9 million barrels in the week.

Distillate stockpiles rose by 1.75 million barrels last week, much more than an expected increase of about 1.08 million barrels, while gasoline inventories dropped by 2.93 million barrels, beating expectations for a build of about 833,000 barrels.

The American Petroleum Institute (API) industry group reported late Tuesday that U.S. crude stocks fell by 7.2 million barrels for the week ending June 18, compared with expectations for a much smaller draw of 3.9 million barrels.

The API reported a build in gasoline stockpiles of 959,000 barrels for the week, while distillate inventories climbed by 992,000 barrels.

The focus now is on the upcoming meeting of the OPEC+ (the Organization of the petroleum Exporting Countries and its allies), scheduled to take place on July 1. OPEC+ is discussing a gradual increase in supply from August, but no decision has been made yet on the exact volumes, two OPEC+ sources were quoted as saying on Tuesday.

According to reports, Russia has already signaled that it would like to increase crude production. Saudi Arabia is also reportedly keen on increasing production.

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

source http://www.mt5.com/forex_news/quickview/2178638/

Treasuries Show Modest Move To The Downside

After showing a lack of direction early in the session, treasuries moved modestly lower over the course of the trading day on Wednesday.

Bond prices lingered in negative territory in afternoon trading after spending the morning bouncing back and forth across the unchanged line. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, inched up by 1.5 basis points to 1.487 percent.

The modestly lower close by treasuries came after the Treasury Department revealed this month's auction of $61 billion worth of five-year notes attracted modestly below average demand.

The five-year note auction drew a high yield of 0.904 percent and a bid-to-cover ratio of 2.36, while the ten previous five-year note auctions had an average bid-to-cover ratio of 2.41.

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

In U.S. economic news, a report released by the Commerce Department unexpectedly showed another steep drop in new home sales in the U.S. in the month of May.

The Commerce Department said new home sales tumbled by 5.9 percent to an annual rate of 769,000 in May after plunging by 7.8 percent to a downwardly revised rate of 817,000 in April.

The continued decrease surprised economists, who had expected new home sales to climb 0.8 percent to a rate of 870,000 from the 863,000 originally reported for the previous month.

Overall trading activity was somewhat subdued, however, as traders looked ahead to Thursday's reports on initial jobless claims and durable goods orders.

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

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

source http://www.mt5.com/forex_news/quickview/2178637/

Gold Futures Settle At 1-week High As Dollar Weakens

Gold prices moved higher on Wednesday and lifted the most active gold futures contract to their highest close in a weak, as the dollar lost ground against its peers.

Federal Reserve Chairman Jerome Powell's reiteration that the central bank will continue with its accommodative policy and an interest rate hike would not happen anytime soon weighed on the dollar.

"We will not raise interest rates pre-emptively because we fear the possible onset of inflation. We will wait for evidence of actual inflation or other imbalances," Powell said in a hearing before the House Select Subcommittee on Tuesday.

The dollar index dropped to a low of 91.51 in mid morning trades, but recovered gradually to emerge above the flat line about an hour past noon. It was last seen hovering around 91.75.

Gold futures for August ended up by $6.00 or about 0.3% at $1,783.40 an ounce, the highest close since last Wednesday (June 16). Gold futures rose to a high of $1,795.60 an ounce before paring some gains.

Silver futures for July ended higher by $0.254 or 1% at $26.111 an ounce, while Copper futures for July settled at $4.3305 per pound, up $0.1005 or 2.4% from the previous close.

In U.S. economic news today, a report released by the Commerce Department showed another steep drop in new home sales in the U.S. in the month of May.

The Commerce Department said new home sales tumbled by 5.9% to an annual rate of 769,000 in May after plunging by 7.8% to a downwardly revised rate of 817,000 in April.

The continued decrease surprised economists, who had expected new home sales to climb 0.8% to a rate of 870,000 from the 863,000 originally reported for the previous month. With the continued nosedive, new home sales fell to their lowest annual rate since hitting 704,000 in May of last year.

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

source http://www.mt5.com/forex_news/quickview/2178636/

New Zealand Dollar Forecast: NZD/USD Testing Key Moving Average as Price Rebounds

The New Zealand Dollar is on track to record a third consecutive daily gain against the US Dollar despite Fed tapering fears driving the US Dollar broadly higher. Traders are shifting focus to the ... Via DailyFX - Market News https://ift.tt/32vveVH

GBP/USD Price Outlook: Pound Sterling Eyes BoE Rate Decision

GBP/USD price action in focus with overnight implied volatility readings elevated as markets await event risk posed by the Bank of England rate decision scheduled for Thursday, 24 June at 11:00 GMT. Via DailyFX - Market News https://ift.tt/32vveVH

*Japan Apr Coincident Index 95.3 Vs. 92.9 In Mar, Flash 95.5

Japan Apr Coincident Index 95.3 Vs. 92.9 In Mar, Flash 95.5

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

source http://www.mt5.com/forex_news/quickview/2178580/

*Singapore May MAS Core Inflation 0.8% Vs. 0.6% In April

Singapore May MAS Core Inflation 0.8% Vs. 0.6% In April

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

source http://www.mt5.com/forex_news/quickview/2178578/

*Singapore May Inflation 2.4% Vs. 2.1% In Apr, Consensus 2.2%

Singapore May Inflation 2.4% Vs. 2.1% In Apr, Consensus 2.2%

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

source http://www.mt5.com/forex_news/quickview/2178577/

Australian Dollar Price Outlook: AUD/USD Attempts Recovery Above 0.7555

AUD/USD attempts to hold gains above 0.7555 as momentum consolidates Via DailyFX - Market News https://ift.tt/32vveVH

Gold Price Outlook - Tepid Recovery Off Important Support Remains Under Pressure

Gold bounced off an important support level at the end of last week but the pull-back remains unconvincing Via DailyFX - Market News https://ift.tt/32vveVH

Euro Latest: EUR/USD Upside Faces Tough Resistance, PMIs Mixed

Hurdles remain for EUR/USD. Euro Area PMIs unlikely to alter the outlook for EUR/USD. Via DailyFX - Market News https://ift.tt/32vveVH

Crude Oil Prices Climb as OPEC+ Plans August Output Hikes, Stockpiles Fall

Crude oil prices traded higher on recovery optimism as OPEC+ planned to further lift production cuts in August to meet rising fuel demand. API reported a larger-than-expected fall in crude inventor... Via DailyFX - Market News https://ift.tt/32vveVH

Japan Manufacturing PMI Slips To 51.5 In June - Jibun Bank

The manufacturing sector in Japan continued to expand in June, albeit at a slower pace, the latest survey from Jibun Bank revealed on Wednesday with a manufacturing PMI score of 51.5.

That's down from 53.0 in May, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

This was the weakest reading of the headline Index for four months. This came as output levels declined for the first time since January and at the quickest pace seen since November 2020, while growth in new orders softened to a marginal pace.

Positively, job creation continued for the third consecutive month, with the rate of growth picking up slightly to reach the fastest since January 2020. Firms also remained confident that activity would increase over the next 12 months, however optimism dipped to a three-month low in June.

The survey also showed that the services PMI rose to 47.2 from 45.7 in June and the composite index fell to 47.8 from 48.8 a month earlier.

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

source http://www.mt5.com/forex_news/quickview/2178576/

*Japan Services PMI 47.2 In June; Composite 47.8 - Jibun Bank

Japan Services PMI 47.2 In June; Composite 47.8 - Jibun Bank

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

source http://www.mt5.com/forex_news/quickview/2178574/

*Japan Manufacturing PMI 51.5 In June - Jibun Bank

Japan Manufacturing PMI 51.5 In June - Jibun Bank

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

source http://www.mt5.com/forex_news/quickview/2178575/

Australia Manufacturing PMI Slows In June - Markit

The manufacturing sector in Australia continued to expand in June, albeit at a slower pace, the latest survey from Markit Economics revealed on Wednesday with a manufacturing PMI score of 58.4.

That's down from 60.4 in May, although it remains well above the boom-or-bust line of 50 that separates expansion from contraction.

The survey also showed that the services PMI fell to 56.0 from 58.0 in June and the composite index slipped to 56.1 from 58.0 a month earlier.

Private sector output continued to expand alongside new orders, though growth slowed due to factors such as the heightened COVID-19 restrictions in Victoria and supply bottlenecks.

Demand growth across both the manufacturing and service sectors slowed in the June update. While manufacturing export orders also rose at a slower pace, foreign demand for Australian services was an exception, with the pace of expansion accelerating to the highest since April 2018.

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

source http://www.mt5.com/forex_news/quickview/2178573/

*Australia Manufacturing PMI 58.4 In June - Markit

Australia Manufacturing PMI 58.4 In June - Markit

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

source http://www.mt5.com/forex_news/quickview/2178571/

*Australia Services PMI 56.0 In June; Composite 56.1 - Markit

Australia Services PMI 56.0 In June; Composite 56.1 - Markit

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

source http://www.mt5.com/forex_news/quickview/2178572/

Bank Of Japan Minutes On Tap For Wednesday

The Bank of Japan will on Wednesday release the minutes from its monetary policy meeting on April 26-27, headlining a busy day in Asia-Pacific economic activity.

At the meeting the BoJ decided to keep its monetary stimulus unchanged, holding the benchmark interest rate steady at -0.1 percent. The bank also will continue to purchase Japanese government bonds without setting an upper limit so that 10-year JGB yields will remain at around zero percent. It also downgraded its near-term inflation forecast and raised its growth projections despite the ongoing Covid restrictions.

Japan also will see April results for its leading and coincident indexes and June results for the manufacturing, services and composite PMIs from Jibun Bank. In March, the leading index had a score of 102.4 and the coincident was at 92.9. In May, the manufacturing index was at 53.0, services was at 46.5 and composite was at 48.8.

Singapore will provide May numbers for consumer prices; in April, overall inflation was down 0.2 percent on month and up 2.1 percent on year, while core CPI rose an annual 0.6 percent.

Taiwan will release May figures for industrial production and retail sales; in April, output was up 13.62 percent on year and retail sales jumped an annual 18.27 percent.

Thailand will provide May numbers for imports, exports and trade balance. Imports are expected to surged 53.65 percent on year after jumping 29.79 percent in April. Exports are called higher by an annual 30.0 percent after climbing13.09 percent in the previous month. The trade surplus is pegged at $0.78 billion, up from $0.18 billion a month earlier.

Also, the central bank in Thailand will wrap up its monetary policy meeting and then announce its decision on interest rates. The bank is widely expected to keep its benchmark lending rate unchanged at 0.50 percent.

The Philippines will see April figures for retail sales; in March, sales were up 1.8 percent on year.

Australia will see June results for the manufacturing, services and composite PMIs from Markit Economics; in May, their scores were 60.4, 58.0 and 58.0, respectively.

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

source http://www.mt5.com/forex_news/quickview/2178570/

Dollar Retreats From Higher Levels, Loses Ground Against Peers

After exhibiting strength against most of its peers in the Asian session, the U.S. dollar turned a bit easy against a few major currencies on Tuesday as traders digested Fed Chair Jerome Powell's Congressional testimony.

The dollar gained early on in the session as U.S. treasury yields rose amid speculation that the central bank will gradually tighten its monetary policy.

Later on in the day, Powell continued to downplay the risks of inflation during testimony before the House Select Subcommittee on the Coronavirus Crisis.

Powell acknowledged inflation has increased notably in recent months but reiterated the view that the jump is due to "transitory" factors and predicted inflation would drop back toward the Fed's longer-run goal of 2% price growth.

The Fed chief noted the economy has shown sustained improvement since he last appeared before the committee, citing widespread Covid-19 vaccinations as well as unprecedented monetary and fiscal policy actions.

However, he also warned the coronavirus pandemic continues to pose risks to the economic outlook, pointing to the slowing pace of vaccinations and new strains of the virus.

Powell stressed that the Fed will do "everything we can to support the economy for as long as it takes to complete the recovery."

In economic news today, the National Association of Realtors' report showed existing home sales extended a recent pullback in May but fell by less than economists had expected. NAR said existing home sales slid by 0.9% to an annual rate of 5.80 million in May after tumbling by 2.7% to a rate of 5.85 million in April. Economists had expected existing home sales to slump by 2.2% to a rate of 5.72 million.

Existing home sales have plummeted by 12.9% since January but are still up by 44.6% compared to May of 2020.

The dollar index, which rose to 92.14, dropped down to 91.65 later on in the day, and was last seen at 91.73, down 0.18% from the previous close.

Against the Euro, the dollar weakened to $1.1939, netting a loss of about 0.16%. The Pound Sterling strengthened to $1.3948 a unit, gaining from $1.3861.

The Yen weakened to 110.68 a dollar, more than a week's low, dropping from Monday's close of 110.33.

Against the Aussie, the dollar weakened to 0.7555 from 0.7535.

The Swiss franc lost marginally against the dollar, weakening to 0.9185 from 0.9178.

Against the Loonie, the dollar turned weak, fetching C$1.2308 a unit, compared to C$1.2363 on Monday.

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

source http://www.mt5.com/forex_news/quickview/2178569/

Natural Gas Forecast: Prices Rise as US Heat Wave Drives Demand Narrative

Natural gas prices have recaptured a key trendline after a major heatwave sent energy demand in the United States soaring. Via DailyFX - Market News https://ift.tt/32vveVH

Dow Jones May Lead Nikkei 225 Higher as Tapering Fears Ease

Wall Street stocks welcomed Fed Chair Jerome Powell’s dovish speech and closed higher. The Nasdaq 100 hit an all-time high. Asia-Pacific markets may follow a positive lead. The US Dollar retreated. Via DailyFX - Market News https://ift.tt/32vveVH

Treasuries Close Modestly Higher After Seeing Early Weakness

Treasuries moved modestly higher over the course of the trading session on Tuesday, recovering from an early move to the downside.

Bond prices rebounded after seeing early weakness and spent rest of the day hovering slightly above the unchanged line. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, edged down by 1.2 basis points to 1.472 percent.

The uptick by treasuries came as Federal Reserve Chair Jerome Powell continued to downplay the risks of inflation during testimony before the House Select Subcommittee on the Coronavirus Crisis.

Powell acknowledged inflation has increased notably in recent months but reiterated the view that the jump is due to "transitory" factors and predicted inflation would drop back toward the Fed's longer-run goal of 2 percent price growth.

The Fed chief also warned the coronavirus pandemic continues to pose risks to the economic outlook, pointing to the slowing pace of vaccinations and new strains of the virus.

Powell stressed that the Fed will do "everything we can to support the economy for as long as it takes to complete the recovery."

Treasuries remained modestly higher after the Treasury Department revealed this month's sale of $60 billion worth of two-year notes attracted average demand.

The two-year note auction drew a high yield of 0.249 percent and a bid-to-cover ratio of 2.54, while the ten previous two-year note auctions had an average bid-to-cover ratio of 2.55.

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 National Association of Realtors released a report showing existing home sales extended a recent pullback in May but fell by less than economists had expected.

NAR said existing home sales slid by 0.9 percent to an annual rate of 5.80 million in May after tumbling by 2.7 percent to a rate of 5.85 million in April. Economists had expected existing home sales to slump by 2.2 percent to a rate of 5.72 million.

Existing home sales have plummeted by 12.9 percent since January but are still up by 44.6 percent compared to May of 2020.

Looking ahead, the Treasury is due to announce the results of this month's auction of $61 billion worth of five-year notes on Wednesday.

Traders are also likely to keep an eye on the Commerce Department's report on new home sales in the month of May.

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

source http://www.mt5.com/forex_news/quickview/2178568/

Oil Futures Settle Lower Ahead Of Inventory Data

Crude oil futures settled lower on Tuesday, weighed down by speculation that the Organization of the Petroleum Exporting Countries (OPEC) and its allies will likely agree to increase crude production.

Profit taking by traders after crude oil prices rose to their highest level since 2018 contributed as well to the weak close of the commodity.

West Texas Intermediate Crude oil futures for July ended down $0.60 or about 0.8% at $73.06 a barrel on the expiration day.

WTI Crude oil futures for August, the new front-month contract, ended down $0.27 or 0.4% at $72.85 a barrel.

Oil prices rose in recent sessions on hopes of economic revival and expected pick-up in summer travel on the back of increasing vaccination coverage.

Meanwhile, expectations for an early return of Iranian crude faded after Ebrahim Raisi, an ultraconservative cleric who's generally hostile toward the West, emerged as the winner of June 18 elections. He's due to take over from Rouhani in mid-August.

BofA Global Research raised its Brent crude price forecasts for this year and next, saying the global oil market will continue to be undersupplied. Goldman Sachs is expecting firmer oil prices moving forward.

On the supply front, OPEC and allies have been gradually increasing production since May as per the decision taken a few months ago. The OPEC+ is now set to meet again on July 1 to take stock of the situation, and it is being speculated that the group will consider hiking production further.

Traders now await weekly oil reports from the American Petroleum Institute (API) and Energy Information Administration (EIA). The API's report is due later today, while the EIA's inventory data is due out Wednesday morning.

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

source http://www.mt5.com/forex_news/quickview/2178567/

Australian Dollar Forecast: Flash PMIs Ease With RBA Talks in Focus

The Australian Dollar's rebound may have gained another tailwind after a positive flash PMI report from IHS Markit, although the readings eased from May. RBA Assistant Governor Ellis will speak today. Via DailyFX - Market News https://ift.tt/32vveVH

Gold Futures Settle Lower As Markets Await Powell's Testimony

Gold futures ended lower on Tuesday, recording losses for the third time in the last four sessions, with traders looking ahead to the Federal Reserve Chairman Jerome Powell's testimony before the Congress.

Powell will testify before the U.S. House of Representatives Select Subcommittee on the Coronavirus Crisis. He is due to discuss the Fed's response to the pandemic but could also face questions about the outlook for monetary policy.

In his prepared remarks for hearing before Congress, Powell said that the current surge in inflation is likely to be transitory and it could move back to the Fed's 2% target when supply imbalances are resolved.

The Fed chief gave a positive assessment of the labor market, saying that employment should pick up in coming months as vaccinations progress and the economy emerges from the pandemic.

"We at the Fed will do everything we can to support the economy for as long as it takes to complete the recovery," Powell noted.

The dollar, which stayed higher till a little past noon, faltered and posted losses against some of its peers.

The dollar index was last seen hovering around 91.75 (down 0.16% from the previous close) after having moved up to 92.14 in the Asian session.

Gold futures for August ended down by $5.50 or about 0.3% at $1,777.40 an ounce. Gold futures had gained about 0.8% on Monday, after posting losses last Thursday and Friday.

Silver futures for July ended down by $0.168 or 0.7% at $25.857 an ounce, while Copper futures for July closed higher by $0.460 or 1.1% at $4.2300 per pound.

A report from the National Association of Realtors showed existing home sales in the U.S. saw further downside in the month of May.

NAR said existing home sales slid by 0.9% to an annual rate of 5.80 million in May after tumbling by 2.7% to a rate of 5.85 million in April. Economists had expected existing home sales to slump by 2.2% to a rate of 5.72 million.

Existing home sales have plummeted by 12.9% since January but are still up by 44.6% compared to May of 2020.

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

source http://www.mt5.com/forex_news/quickview/2178566/

Two-Year Note Auction Attracts Average Demand

Kicking off this week's series of announcements of the results of its long-term securities auctions, the Treasury Department revealed Tuesday that this month's sale of $60 billion worth of two-year notes attracted average demand.

The two-year note auction drew a high yield of 0.249 percent and a bid-to-cover ratio of 2.54.

Last month, the Treasury also sold $60 billion worth of two-year notes, drawing a high yield of 0.152 percent and a bid-to-cover ratio of 2.74.

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

The ten previous two-year note auctions had an average bid-to-cover ratio of 2.55.

Looking ahead, the Treasury is due to announce the results of this month's auction of $61 billion worth of five-year notes on Wednesday and this month's auction of $62 billion worth of seven-year notes on Thursday.

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

source http://www.mt5.com/forex_news/quickview/2178565/