Forex signals news and analysis, fundamental stock market breakdown including geopolitical analysis and in depth discussion. Up to date live news feed from around the world, stock market specific.
Fully Regulated Australian Specialist Broker
Saturday, 31 July 2021
Former Fed Advisor Danielle DiMartino Booth Talks US Economy, Women in Finance & Trading
US Dollar Fundamental Forecast: US Non-Farm Payrolls in Focus After FOMC Week
US Dollar Fundamental Forecast: US Non-Farm Payrolls in Focus After FOMC Week
Bitcoin (BTC) and Ethereum (ETH) Moving Apart, Binance Shutters Some European Derivative Markets
Bitcoin (BTC) and Ethereum (ETH) Moving Apart, Binance Shutters Some European Derivative Markets
Dollar Rebounds On Fairly Strong Economic Data
The U.S. dollar scored gains against most of its major rivals on Friday, rebounding fairly strongly after recent losses, reacting to some strong economic data.
Comments from St. Louis Federal Reserve President James Bullard that the Fed should start reducing its monthly bond purchases this fall and cut them "fairly rapidly" so the program ends in the first months of 2022 to pave the way for a rate increase that year if needed.
The Commerce Department released a report that showed an unexpected increase in personal income in the month of June. The report showed personal income inched up by 0.1% in June after tumbling by a revised 2.2% in May. Economists had expected personal income to dip by 0.3%.
Meanwhile, the data showed personal spending jumped by 1% in June after edging down by a revised 0.1% in May. Economists had expected personal spending to increase by 0.7% in the month.
Revised data released by the University of Michigan showed consumer sentiment in U.S. decreased by slightly less than initially estimated in the month of July. The report said the consumer sentiment index for July was upwardly revised to 81.2 from a preliminary reading of 80.8 but remains below the June reading of 85.5. Economists had expected the index to be unrevised.
The dollar index, which edged down to 91.78 in the Asian session, recovered gradually and climbed to 92.20 around mid afternoon and has been staying firm since then. At 92.14, the index is now up 0.3% from the previous close.
Against the Euro, the dollar firmed to $1.1864, from $1.1889. A flash estimate from Eurostat showed that eurozone gross domestic product expanded 2% sequentially, reversing the 0.3% drop posted in the preceding period. The growth rate was bigger than the expected 1.5%.
On a yearly basis, GDP rebounded 13.7% after shrinking 1.3% in the first quarter. GDP was forecast to grow 13.2%.
Separate data from Eurostat showed that Eurozone inflation rose to 2.2% in July from 1.9% in June. The rate was above the expected 2%.
The Pound Sterling shed ground against the dollar, dropping to $1.3897 a unit from $1.3961 Thursday evening.
Againt the Yen, the dollar climbed, fetching 109.72 yen a unit, compared to previous close of 109.49 yen a dollar. Industrial output in Japan advanced a seasonally adjusted 6.2% on month in June, the Ministry of Economy, Trade and Industry said. That beat expectations for an increase of 5% following the downwardly revised 6.5% contraction in May.
Against the Aussie, the dollar strengthened to 0.7340, gaining from 0.7396.
The Swiss franc slightly up at 0.9058 a dollar. A report from Swiss Economic Institute said the KOF Economic barometer in Switzerland fell to 129.8 in July, from a downwardly revised 133.2 in June. It is the second consecutive fall from a record value in May but the barometer remained clearly above the long-term average of 99.3.
The dollar retreated against the Loonie after showing some strength earlier in the day. It was hovering around 1.2475 a unit of the Canadian currency a little while ago, about 0.22% down from Thursday evening.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180465/
Treasuries Move Higher As Inflation Reading Comes In Below Estimates
After ending the previous session roughly flat, treasuries moved to the upside during the trading day on Friday.
Bond prices moved higher early in the day and remained firmly positive throughout the session. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, fell by 3 basis points to 1.239 percent.
The strength among treasuries was partly attributed to a reading on inflation said to be preferred by the Federal Reserve increasing by less than expected.
A report from the Commerce Department showed its reading on the annual rate of core consumer price growth crept up to 3.5 percent in June from 3.4 percent in May. Economists had expected the pace of growth to accelerate to 3.7 percent.
The Commerce Department report also showed personal income inched up by 0.1 percent in June after tumbling by a revised 2.2 percent in May.
The uptick surprised economists, who had expected personal income to dip by 0.3 percent compared to the 2.0 percent slump originally reported for the previous month.
Meanwhile, the Commerce Department said personal spending jumped by 1.0 percent in June after edging down by a revised 0.1 percent in May.
Economists had expected personal spending to increase by 0.7 percent compared to the unchanged reading originally reported for the previous month.
The report also showed the annual rate of core consumer price growth crept up to 3.5 percent in June from 3.4 percent in May.
Revised data released by the University of Michigan showed consumer sentiment in U.S. decreased by slightly less than initially estimated in the month of July.
The report said the consumer sentiment index for July was upwardly revised to 81.2 from a preliminary reading of 80.8 but remains below the June reading of 85.5. Economists had expected the index to be unrevised.
The monthly jobs report is likely to be in the spotlight next week, while traders will also keep an eye on reports on manufacturing and service sector activity, factory orders and the U.S. trade deficit.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180464/
Crude Oil Futures Settle Modestly Higher For The Day, Gains 2.6% In Week
Crude oil futures settled higher on Friday amid hopes energy demand will grow faster than supply despite a resurgence in coronavirus infections across the globe.
West Texas Intermediate Crude oil futures for September ended up by $0.33 or about 0.5% at $73.95 a barrel, after climbing to a high of $74.23 a barrel.
WTI Crude futures gained about 2.6% in the week. Oil futures added 0.7% in July, gaining for a fourth straight month.
Brent crude futures were up $0.17 or 0.22% at $75.27 a barrel a little while ago.
A report from Baker Hughes today said the number of active U.S. rigs drilling for oil dropped by two to 385 this week, falling for the first time after four weeks. The total active U.S. rig count, which includes those drilling for natural gas, declined by 3 to 488.
Although coronavirus cases are rising in the U.S., Asia and parts of Europe, traders hope higher vaccination rates would help demand grow faster than supply.
Meanwhile, Saudi Arabia is expected to raise prices across various grades of crude oil it sells to Asia in September for a second straight month, says a report from Reuters.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180463/
Gold Futures Settle Lower As Dollar Rebounds
Gold futures settled lower on Friday, as prices came off a multi-week high, after the dollar strengthened, rebounding fairly strongly from recent losses.
The dollar, after hovering near a four-week low after Fed Chair Jerome Powell said earlier this week the U.S. job market still had some ground to cover before it would be time to pull back support and that the Fed was "ways away" from considering rate hikes, recovered gradually today.
The dollar index, which edged down to 91.78 in the Asian session, rose to 92.20, gaining more than 0.35%.
Gold futures for December ended down by $18.60 or about 1% at $1,817.20 an ounce, after settling at a six-week high on Thursday.
Gold futures gained about 0.9% in the week and climbed 2.6% in July.
Silver futures for September ended the session with a loss of $0.235 or 0.9% at $25.547 an ounce, while Copper futures for September settled at $4.4825 per pound, down $0.0410 or 0.9% from the previous close.
Silver futures shed about 2.5% in the month, while copper futures climbed 4.5% in the month.
In U.S. economic news, the Commerce Department released a report that showed an unexpected increase in personal income in the month of June. The report showed personal income inched up by 0.1% in June after tumbling by a revised 2.2% in May. Economists had expected personal income to dip by 0.3%.
Meanwhile, the data showed personal spending jumped by 1% in June after edging down by a revised 0.1% in May. Economists had expected personal spending to increase by 0.7% in the month.
Revised data released by the University of Michigan showed consumer sentiment in U.S. decreased by slightly less than initially estimated in the month of July. The report said the consumer sentiment index for July was upwardly revised to 81.2 from a preliminary reading of 80.8 but remains below the June reading of 85.5. Economists had expected the index to be unrevised.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180462/
Australian Dollar Outlook Bleak: AUD/USD Eyes RBA, Delta Variant, Beijing Crackdowns
Australian Dollar Outlook Bleak: AUD/USD Eyes RBA, Delta Variant, Beijing Crackdowns
Friday, 30 July 2021
Japan Industrial Output Jumps 6.2% In June
Industrial production in Japan was up a seasonally adjusted 6.2 percent on month in June, the Ministry of Economy, Trade and Industry said on Friday.
That beat expectations for an increase of 5.0 percent following the downwardly revised 6.5 percent contraction in May (originally -5.9 percent). On a yearly basis, industrial production spiked 22.6 percent - roughly in line with expectations following the 21.1 percent gain in the previous month.
Upon the release of the data, the METI maintained its assessment of industrial production, saying that it is picking up.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180347/
*Japan Industrial Production +6.2% On Month In June
Japan Industrial Production +6.2% On Month In June
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180345/
*Japan Retail Sales +0.1% On Year In June
Japan Retail Sales +0.1% On Year In June
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180346/
South Korea Industrial Production Climbs 2.2% In June
Industrial output in South Korea expanded a seasonally adjusted 2.2 percent on month in June, Statistics Korea said on Friday.
That beat expectations for an increase of 1.0 percent following the downwardly revised 1.0 percent contraction in May (originally -0.7 percent).
On a yearly basis, industrial production jumped 11.9 percent - again exceeding expectations for 9.3 percent following the downwardly revised 14.9 percent gain in the previous month (originally 15.6 percent).
The Index of all industry production was up 1.6 percent on month and 6.7 percent on year.
The Manufacturing Production Index added 2.3 percent on month and 12.1 percent on year. The Manufacturing Shipment Index fell 0.2 percent on month but increased 10.4 percent on year. The Manufacturing Inventory Index shed 1.1 percent on month and 5.2 percent on year.
The Production Capacity Index rose 0.1 percent on month and 1.4 percent on year. The Index of Capacity Utilization Rate gained 0.8 percent on month and 9.4 percent on year.
The Manufacturing Average Capacity Utilization Rate was 73.9 percent, up 0.6 percentage points from the previous month. The Index of Services rose 1.6 percent on month and 4.9 percent on year.
The Retail Sales Index climbed 1.4 percent on month and 1.6 percent on year. The Equipment Investment Index eased 0.2 percent on month but jumped 10.0 percent on year.
The Domestic Machinery Shipment Index gained 8.2 percent on year, while the value of Domestic Machinery Orders Received in June skyrocketed 47.7 percent on year. The value of Construction Completed at constant prices rose 2.0 percent on month but sank 3.1 percent on year.
In June, the value of Construction Orders Received at current prices tumbled 18.7 percent on year.
The Composite Coincident Index rose 0.3 percent on month. The Cyclical Component of Composite Coincident Index, which reflects current economic situations, added 0.1 points from the previous month..
The Composite Leading Index in June increased by 0.6 percent on month. The Cyclical Component of Composite Leading Index, which predicts the turning point in business cycle, rose 0.3 points from the previous month.
For the second quarter of 2021, industrial production fell 1.0 percent on quarter and gained 13.0 percent on year.
Also on Friday: . The value of retail sales in South Korea was up a seasonally adjusted 1.4 percent on month in June, Statistics Korea said. That beat expectations for an increase of 1.2 percent following the 1.9 percent contraction in May.
On a yearly basis, retail sales climbed 1.6 percent - again beating forecasts for 1.5 percent but slowing from 3.1 percent in the previous month.
. The Bank of Korea said that manufacturing business sentiment in South Korea eased slightly in July, with an index score of 97. That's down from 98 in June, while the outlook tumbled to 92 in July from 99 a month earlier.
In the non-manufacturing sector, the sentiment index fell 2 points to 79, while the outlook lost 4 points to 78.
The Economic Sentiment Index - a composite of the central bank's business and consumer surveys - came in at 103.9 in July, down from 109.4 in June.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180343/
New Zealand Building Permits Jump 3.8% In June
The total number of building permits issued in New Zealand was up a seasonally adjusted 3.8 percent in June, Statistics New Zealand said on Friday - coming in at 4,310.
That follows the upwardly revised 2.4 percent decline in May (originally -2.8 percent).
On a yearly basis, building permits spiked 18.0 percent to 44,299.
The annual value of non-residential building work consented was NZ$7.7 billion, up 13 percent from the June 2020 year.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180344/
Japan Unemployment Rate Dips To 2.9% In June
The jobless rate in Japan came in at a seasonally adjusted 2.9 percent in June, the Ministry of Internal Affairs and Communications said on Friday.
That was beneath expectations for 3.0 percent, which would have been unchanged from the May reading.
The jobs-to-applicant ratio was 1.13, well above expectations for 1.10 and up from 1.09 in the previous month.
The participation rate was 62.4 percent, up from 62.2 percent a month earlier.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180342/
*Japan Unemployment Rate 2.9% In June Vs. 3.0% In May
Japan Unemployment Rate 2.9% In June Vs. 3.0% In May
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180341/
*New Zealand Building Permits +3.8% On Month, +18% On Year In June
New Zealand Building Permits +3.8% On Month, +18% On Year In June
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180340/
South Korea Retail Sales Gain 1.4% In June
The value of retail sales in South Korea was up a seasonally adjusted 1.4 percent on month in June, Statistics Korea said on Friday.
That beat expectations for an increase of 1.2 percent following the 1.9 percent contraction in May.
On a yearly basis, retail sales climbed 1.6 percent - again beating forecasts for 1.5 percent but slowing from 3.1 percent in the previous month.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180339/
South Korea Industrial Output Rises 2.2% In June
Industrial production in South Korea was up a seasonally adjusted 2.2 percent on month in June, Statistics Korea said on Friday.
That beat expectations for an increase of 1.0 percent following the downwardly revised 1.0 percent contraction in May (originally -0.7 percent).
On a yearly basis, industrial production jumped 11.9 percent - again exceeding expectations for 9.3 percent following the downwardly revised 14.9 percent gain in the previous month (originally 15.6 percent).
For the second quarter of 2021, industrial production fell 1.0 percent on quarter and gained 13.0 percent on year.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180338/
*South Korea Retail Sales +1.4% On Month In June
South Korea Retail Sales +1.4% On Month In June
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180337/
*South Korea Industrial Production +2.2% On Month, +11.9% On Year In June
South Korea Industrial Production +2.2% On Month, +11.9% On Year In June
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180336/
Iron Ore to Rise Further as US Infrastructure Deal Aids Recovery Outlook: Q3 Top Trading Opportunities
Japan Data Due On A Busy Friday
Japan is scheduled to release a raft of data on Friday, headlining a busy day for Asia-Pacific economic activity. On tap are June numbers for unemployment, industrial production, retail sales, housing starts and construction orders.
The jobless rate is expected to hold steady at 3.0 percent, while the jobs-to-applicant ratio is expected to tick up to 1.10 from 1.09 in May.
Industrial production was down 5.9 percent on month and up 21.1 percent on year in May, while retail sales were down 0.4 percent on month and up 8.2 percent on year. Housing starts rose an annual 9.9 percent in June and construction orders gained 7.4 percent on year.
Australia will see Q2 numbers for producer prices and June figures for private sector credit. In Q1, producer prices were up 0.4 percent on quarter and 0.2 percent on year. In May, credit gained 0.4 percent on month and 1.9 percent on year.
The Philippines will release June figures for producer prices; in May, prices were down 4.3 percent on year.
New Zealand will provide June data for building permits; in May, permits were down 2.8 percent on month.
South Korea will release June figures for industrial production and retail sales. In May, industrial production was down0.7 percent on month and up 15.6 percent on year, while retail sales were down 1.8 percent on month and up 3.1 percent on year.
Singapore will see June numbers for bank lending and Q2 data for unemployment and business confidence. In May, lending was worth $693.7 billion. In Q1, the jobless rate was 2.9 percent and the business confidence index score was +38.
Taiwan will release an advance estimate for Q2 gross domestic product, with forecasts suggesting an increase of 6.05 percent on year following the 8.92 percent spike in the previous three months.
Hong Kong will provide an advance estimate for Q2 gross domestic product; in the three months prior, GDP was up 5.4 percent on quarter and 7.9 percent on year.
Thailand will see May figures for retail sales and June data for current account and for its coincident index. In April, retail sales jumped 31.5 percent on year. In June, the current account deficit was $2.6 billion, while the coincident index had a score of 127.82.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180335/
Dollar Extends Losses Against Other Major Currencies
The U.S. dollar lost ground against its major peers on Thursday, weighed down by a report saying the U.S. economy expanded less than forecast in the second quarter, and comments from Fed Chair Jerome Powell that the bank is unlikely to hike rates anytime soon.
Powell said on Wednesday that the economy was "still a ways off" from reaching a standard of "substantial further progress" to scale back the asset purchase program.
Powell added that although the economy has made progress towards its goals for inflation and labor market since the June meeting, the threshold to begin tapering bond purchases has not been achieved. He remarked that "there is still a long way to go" to attain a full recovery in the labor market.
Meanwhile, the U.S. Senate voted to push forward a bipartisan infrastructure plan amounting to $550 billion, which includes funding for roads, bridges, broadband and other physical infrastructure.
The Commerce Department's report today said real GDP surged up by 6.5% in the second quarter following a 6.3% jump in the first quarter. Economists had expected GDP to spike by 8.5%.
Data released by the Labor Department showed initial jobless claims dipped to 400,000 in the week ended July 24th, a decrease of 24,000 from the previous week's revised level of 424,000. Economists had expected jobless claims to drop to 380,000 from the 419,000 originally reported for the previous week.
The dollar index dropped to 92.86 in the New York session, and was last seen at 91.91, down 0.45% from the previous close.
Against the Euro, the dollar weakened to $1.1886 from $1.1844. Eurozone economic confidence hit a record high in July driven by rising sentiment in the industrial and service sectors, survey results from the European Commission showed.
The economic confidence index rose to 119.0 from 117.9 in June. This was the highest since records began in 1985 and also well above economists' forecast of 118.5.
The Pound Sterling firmed against the dollar, fetching $1.3962 a unit, more than 0.4% up from Wednesday's level of $1.3903. Data from the Bank of England showed that the UK mortgage borrowing hit a record level in June, ahead of the lower stamp duty rates began to taper off from July.
Net mortgage borrowing reached a record GBP 17.9 billion in June. Evidence suggests there has been a shortening of time between a mortgage being approved and the lending itself, the BoE said.
The dollar was weaker against the yen at 109.46 yen, compared to 109.91 Wednesday evening.
The Aussie strengthened against the dollar, fetching $0.7392, nearly 0.25% from the previous close of $0.7374. Data from the Australian Bureau of Statistics showed that Australia export prices rose 13.2% on quarter in the second quarter of 2021, accelerating from 11.2% in the previous three months. On a yearly basis, export prices surged 26%.
Against Swiss franc, the dollar weakened to CHF 0.9062 from CHF 0.9101. The Loonie firmed to 1.2448 from 1.2528 as crude oil prices rose sharply.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180334/
Amazon Earnings Cast a Shadow on Nasdaq 100. APAC Stocks to Open Mixed
How to Manage the Emotions of Trading
Treasuries Close Roughly Flat Following Lackluster Session
Treasuries showed a lack of direction over the course of the trading session on Thursday before ending the day roughly flat.
Bond prices spent the day bouncing back and forth across the unchanged line. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, crept up by less than a basis point to 1.269 percent.
The choppy trading on the day came despite the release of some disappointing U.S. economic data, including a report from the Commerce Department showing economic growth fell well short of estimates in the second quarter.
The weaker than expected data may have added to optimism the Federal Reserve will not be in a hurry to begin scaling back its asset purchases.
On Wednesday, the Fed noted progress has been made towards the central bank's maximum employment and price stability goals, although Fed Chair Jerome Powell noted there is still "some ground to cover on the labor market side."
The Commerce Department said real GDP surged up by 6.5 percent in the second quarter following a 6.3 percent jump in the first quarter. Economists had expected GDP to spike by 8.5 percent.
The GDP growth in the second quarter reflected increases in consumer spending, non-residential fixed investment, exports, and state and local government spending.
However, decreases in private inventory investment, residential fixed investment, and federal government spending limited the upside along with an increase in imports, which are a subtraction in the calculation of GDP.
"The good news is that the economy has now surpassed its pre-pandemic level," said Paul Ashworth, Chief U.S. Economist at Capital Economics.
He added, "But with the impact from the fiscal stimulus waning, surging prices weakening purchasing power, the delta variant running amok in the south and the saving rate lower than we thought, we expect GDP growth to slow to 3.5% annualized in the second half of this year."
Meanwhile, the Labor Department released a report showing a modest pullback in initial jobless claims in the week ended July 24th.
The report said initial jobless claims dipped to 400,000, a decrease of 24,000 from the previous week's revised level of 424,000.
Economists had expected jobless claims to drop to 380,000 from the 419,000 originally reported for the previous week.
The National Association of Realtors also released a report showing an unexpected pullback in pending home sales in the month of June.
NAR said its pending home sales index tumbled by 1.9 percent to 112.8 in June after soaring by 8.3 percent to a revised 115.0 in May.
The pullback surprised economists, who had expected pending home sales to edge up by 0.3 percent compared to the 8.0 percent spike originally reported for the previous month.
A pending home sale is one in which a contract was signed but not yet closed. Normally, it takes four to six weeks to close a contracted sale.
Bond traders largely shrugged off the results of the Treasury Department's auction of $62 billion worth of seven-year notes, which attracted below average demand.
The seven-year note auction drew a high yield of 1.050 percent and a bid-to-cover ratio of 2.23, while the ten previous seven-year note auctions had an average bid-to-cover ratio of 2.30.
The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.
Trading on Friday may be impacted by another batch of U.S. economic data, including reports on personal income and spending, Chicago-area business activity and consumer sentiment.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180333/
Oil Futures Settle Sharply Higher
Crude oil futures settled higher on Thursday as data showing a drop in U.S. crude inventories continued to support oil prices.
A weak dollar contributed as well to the jump in oil prices. The dollar index dropped to 91.91, losing more than 0.4%. The dollar drifted lower after the Federal Reserve said on Wednesday that it has not yet set a time to start tapering its bond purchases.
Data from Genscape indicated that the inventories at the Cushing, Oklahoma storage hub have continued drop. Cushing stockpiles were seen at 36.299 million barrels by Tuesday afternoon, down 360,917 barrels from last Friday.
West Texas Intermediate Crude oil futures for September ended up by $1.23 or about 1.7% at $73.62 a barrel, the highest close since July 13.
Brent crude futures gained about $1.30 or 1.7% at $76.04 a barrel.
Data released by Energy Information Administration (EIA) on Wednesday showed crude inventories in the U.S. fell by 4.089 million barrels last week, over a million barrels up from an expected drop of about 2.9 million barrels.
Gasoline inventories dropped by 2.253 million barrels last week, more than twice the expected draw, the data showed.
Distillate stockpiles, which include diesel and heating oil, fell by 3.088 million barrels, much more than an expected drop of 435,000 barrels.
The drawdown in crude inventories to their lowest level since January 2020 raised optimism that supplies will remain tight despite the production hikes set by OPEC+.
Traders shrugged off data that showed India's crude oil imports dropped to their lowest level in eight months in June.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180332/
Gold Futures Settle Higher On Weak Dollar, Fed's Dovish Comments
Gold prices climbed higher on Thursday, lifting the most active gold futures contract to a six-week closing high, as weak economic data pushed up the demand for the safe-haven yellow metal.
A weak dollar and a drop in treasury yields helped as well.
Gold also found support after the Federal Reserve said on Wednesday that it will not abandon its ultra-accommodative policies anytime soon.
A report from the World Gold Council indicated global gold demand dropped in the first half of this year, compared to the same period last year. However, it failed to stop the yellow metal's advance today.
The dollar index dropped to 91.91, losing more than 0.4%.
Gold futures for December ended up by $31.20 or about 1.7% at $1,835.80 an ounce, the highest settlement since June 16.
Silver futures for September ended higher by $0.905 or about 3.6% at $25.782 an ounce, a two-week closing high. Copper futures for September settled at $4.5235 per pound, gaining $0.0415 or 0.9%.
Following the Fed's slightly hawkish monetary policy announcement, Powell said that the economy is "still a ways off" from reaching a standard of "substantial further progress" to withdraw stimulus measures.
Powell's comments on inflation and job growth also suggested that "there is still a long way to go" for the Fed to consider a shift in policy.
Meanwhile, the U.S. Senate voted to push forward a bipartisan infrastructure plan amounting to $550 billion, which includes funding for roads, bridges, broadband and other physical infrastructure.
The Commerce Department said real GDP surged up by 6.5% in the second quarter following a 6.3% jump in the first quarter. Economists had expected GDP to spike by 8.5%.
Data released by the Labor Department showed initial jobless claims dipped to 400,000 in the week ended July 24th, a decrease of 24,000 from the previous week's revised level of 424,000. Economists had expected jobless claims to drop to 380,000 from the 419,000 originally reported for the previous week.
The National Association of Realtors also released a report showing an unexpected pullback in pending home sales in the month of June. NAR said its pending home sales index tumbled by 1.9% to 112.8 in June after soaring by 8.3% to a revised 115.0 in May.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180331/
New Zealand Dollar Outlook: NZD/USD Breaks Higher from Wedge Pattern
Seven-Year Note Auction Attracts Below Average Demand
Finishing off this week's series of announcements of the results of its long-term securities auctions, the Treasury Department revealed Thursday that this month's auction of $62 billion worth of seven-year notes attracted below average demand.
The seven-year note auction drew a high yield of 1.050 percent and a bid-to-cover ratio of 2.23
Last month, the Treasury also sold $62 billion worth of seven-year notes, drawing a high yield of 1.264 percent and a bid-to-cover ratio of 2.36.
The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.
The ten previous seven-year note auctions had an average bid-to-cover ratio of 2.30.
Earlier this week, the Treasury revealed its auction of $60 billion worth of two-year notes attracted modestly below average demand, while its auction of $61 billion worth of five-year notes attracted average demand.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180330/
Sweden Economy Grows More Than Expected In Q2
Sweden's economy expanded at a faster than expected pace in the second quarter, preliminary data from the statistical office showed Thursday. Gross domestic product grew a seasonally adjusted 0.9 percent from the first quarter, when the economy expanded 0.8 percent. Economists had expected 0.7 percent growth. Compared to the same quarter last year, GDP rose a working-day adjusted 10 percent after remaining unchanged in the first three months of the year. "Year on year growth rates are the highest we currently have in our time series on Swedish GDP," Statistics Sweden economist Melker Loberg said.
"This should be seen in the light of the severe economic effects of the pandemic on the economy in the second quarter last year. "
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180329/
Thursday, 29 July 2021
*UK Jun Car Production At 69.09K, Lowest Since 1953, Bar Covid Hit June 2020: SMMT
UK Jun Car Production At 69.09K, Lowest Since 1953, Bar Covid Hit June 2020: SMMT
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180245/
*UK Jun Car Production At 69.09K, Lowest Since 1953: SMMT
UK Jun Car Production At 69.09K, Lowest Since 1953: SMMT
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180244/
New Zealand ANZ Business Confidence Weakens In July
New Zealand business confidence eased in July, preliminary survey results from ANZ showed on Thursday.
The business confidence index fell to -3.8 in July from -0.6 in June. The own activity outlook index dropped to 26.3 from 31.6 in the previous month.
On the price front, the survey showed that costs continued to rise. Pricing intentions remained extremely high, and inflation expectations continued to lift.
The investment intentions index dropped 9 points to 17.4 percent. At the same time, employment intentions edged up 1 point to 21.4 percent. The survey showed that capacity utilization, profit expectations and export intentions weakened in July.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180243/
NZD/USD Outlook: Central Bank Divergence to Play a Key Role
European Economics Preview: Germany Flash Inflation, Unemployment Data Due
Flash consumer prices and unemployment from Germany and the account of the monetary policy meeting from the European Central Bank are due on Thursday, headlining a busy day for the European economic news.
At 2.00 am ET, Destatis is set to release Germany's monthly labor force survey results for June.
At 2.45 am ET, the French statistical office Insee publishes producer prices data for June. Prices had increased 7.2 percent annually in May.
At 3.00 am ET, Spain's INE is scheduled to issue flash consumer prices and unemployment data. Inflation is forecast to ease to 2.5 percent in July from 2.7 percent in June. The jobless rate is forecast to fall to 15.1 percent in the second quarter from 15.98 percent in the prior period.
In the meantime, economic tendency survey data from Sweden is due.
At 3.30 am ET, Statistics Sweden is set to release flash quarterly GDP data for the second quarter. The economy is expected to grow 0.7 percent sequentially, following a 0.8 percent rise in the first quarter.
At 3.55 am ET, unemployment data is due from Germany. The jobless rate is forecast to fall to 5.8 percent in July from 5.9 percent in June.
At 4.30 am ET, the Bank of England publishes mortgage approvals figures for June. The number of mortgages approved in June is expected to fall to 86,100 from 87,550 in May.
Half an hour later, the European Commission is set to issue euro area economic confidence survey results. The economic sentiment index is seen at 118.5 in July versus 117.9 in June.
At 7.30 am ET, the European Central Bank releases the account of the meeting of the Governing Council held on July 7.
At 8.00 am ET, Destatis is set to issue Germany's flash inflation data for July. Consumer price inflation is seen rising to 3.3 percent from 2.3 percent in June.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180242/
*New Zealand Jul ANZ Business Confidence -3.8 Vs. -0.6 In June
New Zealand Jul ANZ Business Confidence -3.8 Vs. -0.6 In June
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180241/
*Dutch July Business Confidence 12.3 Vs. 11.5 In June
Dutch July Business Confidence 12.3 Vs. 11.5 In June
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180240/
British Pound (GBP) Price Outlook: GBP/USD Strong, Breaks Above Resistance
US Dollar Trend Still Points Higher After FOMC, Q2 GDP Eyed
Australia Export Prices Spike 13.2% On Quarter In Q2
Export prices in Australia were up 13.2 percent on quarter in the second quarter of 2021, the Australian Bureau of Statistics said on Thursday - accelerating from 11.2 percent in the previous three months.
On a yearly basis, export prices surged 26.0 percent.
The main contributors to the rise were: metalliferous ores and metal scrap (+18.5 percent), driven by the demand for iron ore from China and constrained global supply; coal, coke and briquettes (+15.6 percent), reflecting the demand for thermal coal for household power production in Asia; and gas, natural and manufactured (+14.6 percent), due to the oil-linked contracts capturing the continued rise in oil prices in early 2021.
Import prices rose 1.9 percent on quarter and fell 2.5 percent on year.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180239/
*Australia Import Prices +1.9% On Quarter In Q2; Export Prices +13.2%
Australia Import Prices +1.9% On Quarter In Q2; Export Prices +13.2%
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180238/
Nasdaq 100 May Outperform the Dow Jones as Treasury Yield Curve Flattens: Q3 Top Trading Opportunities
Yen Q3 Fundamental Forecast: Road Ahead Remains Tough
Crude Oil Outlook: WTI Jumps After Oil and Gas Inventory Drop Saps Covid Fears
Australia Import, Export Price Data Due On Thursday
Australia will on Thursday release Q2 figures for import and export prices, highlighting a light day for Asia-Pacific economic activity.
In the three months prior, import prices were up 0.2 percent on quarter and export prices jumped 11.2 percent.
New Zealand will see July results for the business confidence index from ANZ; in June, the index slipped 0.6 percent.
Singapore will provide June figures for import and export prices, as well as producer prices. In May, import prices rose 13.9 percent on year and export prices climbed 9.6 percent. Producer prices spiked an annual 18.1 percent.
Thailand will provide June numbers for industrial production, with forecasts suggesting an increase of 18.75 percent following the 25.84 percent spike in May.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180237/
Dollar Loses Ground Against Peers
The U.S. dollar, which pared some gains after showing some strength early on in the session on Wednesday, climbed higher as the Federal Reserve announced its policy, but swiftly retreated and slipped below the flat line and lost ground against some of its peers.
The Federal Open Market Committee left the target range for its federal funds rate unchanged at 0 to 0.25 percent as expected, and said it will continue with its $120 billion-a-month bond-buying program.
The bank, which said the economy is strengthening despite concerns over the spread of the coronavirus, added that risks to the economic outlook remain.
Noting that there has been progress towards the central bank's goals on employment and inflation, the bank's statement says changes to policy with regard to monthly bond purchases could be on the way.
The Fed said the open market committee will continue to assess progress in coming meetings.
In the press conference that followed the monetary policy meeting, Fed Chair Jerome Powell said there was "more ground to make up" in the labor market to meet substantial further progress threshold to taper bond purchases.
The dollar index rose to a high of 92.75, but drifted down to 92.24 later on in the session, losing about 0.19% from Tuesday's closing level.
Against the Euro, the dollar weakened to $1.1845, giving up nearly 0.25%.
The Pound Sterling firmed to fetch $1.3906 a unit, compared to $1.3876 Tuesday evening.
Against the Japanese currency, the dollar firmed to 109.92 yen, gaining from 109.79 yen.
Against the Aussie, the dollar weakened to 0.7374 from 0.7361.
The Swiss franc was trading at 0.9100 a dollar, firming up from 0.9147. The Loonie gained against the dollar, advancing to 1.2523, as oil prices surged higher and Canadian inflation eased.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180236/
Gold Price Outlook Shifts Rosy Post FOMC, XAU/USD Eyeing US GDP Data Next
S&P 500 Holds Steady After the FOMC, Hang Seng Aims For a Rebound
Oil Futures Settle Higher On Inventory Data
Crude oil prices moved higher on Wednesday, lifted by data showing a larger-than-expected drop in U.S. crude inventories last week.
The data showing a bigger drop in stockpiles has raised optimism that supplies will remain tight despite the production hikes set by OPEC+.
Still, concerns about outlook for energy demand due to the spread of the delta variant of the coronavirus limited oil's uptick.
West Texas Intermediate Crude oil futures for September ended up by $0.74 or about 1% at $72.39 a barrel.
Brent crude futures were up $0.34 or nearly 0.5% at $73.86 a barrel a little while ago.
Data released by Energy Information Administration (EIA) this morning showed crude inventories in the U.S. fell by 4.089 million barrels last week, over a million barrels up from an expected drop of about 2.9 million barrels.
Gasoline inventories dropped by 2.253 million barrels last week, more than twice the expected draw, the data showed. Meanwhile, distillate stockpiles, which include diesel and heating oil, fell by 3.088 million barrels, much more than an expected drop of 435,000 barrels.
A report released by the American Petroleum Institute (API) on Tuesday showed U.S. crude stocks fell by 4.7 million barrels for the week ended July 23, compared with analysts' expectations for a 2.9 million fall in crude stocks, following a surprise rise in crude inventories the previous week.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180235/
Gold Futures Settle Slightly Lower
Gold futures settled marginally down on Wednesday and drifted down further after the Federal Reserve left its interest rate unchanged as expected.
The central bank also said it would maintain the $120 billion-a-month bond-buying program.
The dollar index, which climbed to 92.75 by the time the central bank announced its policy, swiftly dropped to 92.50. It was last seen at 92.52, up by about 0.1% from the previous close.
Gold futures for August settled at $1,799.70 an ounce, down $0.10 from the previous close. Gold futures slid to $1,790.70 after the central bank announced its policy, but recovered to $1,797.00 subsequently.
Silver futures for September ended up by $0.228 at $24.877 an ounce, while Copper futures for September ended down by $0.0625 at $4.4820 per pound.
The Federal Open Market Committee, which concluded its two-day monetary policy meeting Wednesday afternoon, left the target range for its federal funds rate unchanged at 0 to 0.25 percent, and said it will continue with its $120 billion-a-month bond-buying program.
The move by the central bank is in line with expectations. The bank, which said the economy is strengthening despite concerns over the spread of the coronavirus, stressed that progress on vaccinations will likely continue to reduce the effects of the public health crisis on the economy. However, it added that risks to the economic outlook remain.
"The sectors most adversely affected by the pandemic have shown improvement but have not fully recovered" noted the central bank's post-meeting statement. "Inflation has risen, largely reflecting transitory factors. Overall financial conditions remain accommodative, in part reflecting policy measures to support the economy and the flow of credit to U.S. households and businesses."
Noting that there has been progress towards the central bank's goals on employment and inflation, the bank's statement says changes to policy with regard to monthly bond purchases could be on the way.
The Fed said the open market committee will continue to assess progress in coming meetings.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180234/
How to Trade After a News Release
Fed Holds Rate, Bond-buying Program Unchanged
The Federal Open Market Committee, which concluded its two-day monetary policy meeting Wednesday afternoon, left the target range for its federal funds rate unchanged at 0 to 0.25 percent, and said it will continue with its $120 billion-a-month bond-buying program.
The move by the central bank is in line with expectations. The bank, which said the economy is strengthening despite concerns over the spread of the coronavirus, stressed that progress on vaccinations will likely continue to reduce the effects of the public health crisis on the economy. However, it added that risks to the economic outlook remain.
"The sectors most adversely affected by the pandemic have shown improvement but have not fully recovered" noted the central bank's post-meeting statement. "Inflation has risen, largely reflecting transitory factors. Overall financial conditions remain accommodative, in part reflecting policy measures to support the economy and the flow of credit to U.S. households and businesses."
Noting that there has been progress towards the central bank's goals on employment and inflation, the bank's statement says changes to policy with regard to monthly bond purchases could be on the way.
The central bank's policymakers have approved the creation of a standing repo facility for the bond market where institutions go to exchange high-quality collateral for cash.
The Fed said the open market committee will continue to assess progress in coming meetings.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180233/
Australian Dollar Outlook: AUD/USD Eyes Trade Data After FOMC Weakness
Wednesday, 28 July 2021
Gold Latest - Price Action on Hold as Traders Wait for the Latest FOMC Announcement
*UK Jul BRC Shop Price Index Falls 1.2% On Year
UK Jul BRC Shop Price Index Falls 1.2% On Year
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180179/
European Economics Preview: UK Nationwide House Price Data Due
House price data from the UK and consumer sentiment survey results from Germany and France are due on Wednesday, headlining a busy day for the European economic news.
At 2.00 am ET, UK Nationwide house price data for July is due. House prices are forecast to advance 12.1 percent annually, slower than the 13.4 percent increase in June.
In the meantime, consumer confidence survey results are due from Germany. The forward-looking consumer sentiment index is seen rising to 1.0 in August from -0.3 in July.
Also, Destatis is scheduled to issue Germany's import prices for June. Import price inflation is forecast to rise to 12.6 percent from 11.8 percent in May.
At 2.45 am ET, France statistical office Insee publishes consumer confidence survey results. The consumer sentiment index is expected to remain unchanged at 102 in July. At 3.30 am ET, retail sales data is due from Sweden.
Half an hour later, Italy's statistical office Istat is set to issue business and consumer confidence survey data. The business sentiment index is expected to climb to 115.4 in July from 114.8 in the previous month.
Also, Austria's manufacturing Purchasing Managers' survey data is due for July.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180178/
*Japan May Lagging Index 93.2 Vs. 94.1 In April
Japan May Lagging Index 93.2 Vs. 94.1 In April
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180177/
*Japan May Coincident Index 92.1 Vs. 95.3 In April
Japan May Coincident Index 92.1 Vs. 95.3 In April
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180176/
*Japan May Leading Index 102.6 Vs. 103.8 In April
Japan May Leading Index 102.6 Vs. 103.8 In April
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180175/
*Malaysia June Imports Up 32.1% On Year, Consensus +18.2%
Malaysia June Imports Up 32.1% On Year, Consensus +18.2%
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180174/
*Malaysia June Exports Up 27.2% On Year, Consensus +11.7%
Malaysia June Exports Up 27.2% On Year, Consensus +11.7%
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180173/
*Malaysia June Trade Surplus MYR 22.2 Billion, Consensus MYR 19.0 Billion
Malaysia June Trade Surplus MYR 22.2 Billion, Consensus MYR 19.0 Billion
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180172/
British Pound (GBP) Price Outlook: GBP/USD March Higher Halts Pre-Fed
Gold Prices Climb Ahead of FOMC as Traders Anticipate Status Quo, USD Falls
Crude Oil Prices Risk Forming a “Lower High” on Viral Concerns, Stockpiles Fall
Australia Inflation Data Due On Wednesday
Australia will on Wednesday see Q2 figures for consumer prices, highlighting a modest day for Asia-Pacific economic activity.
Overall inflation is expected to rise 0.7 percent on quarter and 3.8 percent on year after gaining 0.6 percent on quarter and 1.1 percent on year in the three months prior.
The RBA's trimmed mean is called higher by 0.5 percent on quarter and 1.6 percent on year, accelerating from 0.3 percent on quarter and 1.1 percent in year in Q1. The RBA's weighted median is tipped to rise 0.5 percent on quarter and 1.7 percent on year, up from 0.4 percent on quarter and 1.3 percent on year in Q1.
Japan will see final May results for its leading and coincident indexes; the previous readings were 103.8 and 95.3, respectively.
Thailand will provide June numbers for industrial production, with forecasts suggesting an increase of 18.75 percent following the 25.84 percent spike in May.
Finally, the markets in Thailand are closed on Wednesday in observance of King Maha's Birthday; they will re-open on Thursday.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180171/
Dollar Loses Ground Against Major Peers
The U.S. dollar was weak against most of its major rivals on Tuesday, weighed down by a report showing a smaller-than-expected increase in the country's durable goods orders in June.
Traders were also making cautious moves as they looked ahead to the Federal Reserve's monetary policy announcement, due on Wednesday, for clues regarding the timing of tapering the stimulus program.
According to the data released by the Commerce Department, durable goods orders climbed by 0.8% in June after spiking by an upwardly revised 3.2% in May. Economists expected orders to rise by 2.1% compared to the 2.3% increase reported for the previous month.
Excluding orders for transportation equipment, durable goods orders rose by 0.3% in June following a 0.5% increase in May. Ex-transportation orders were expected to climb by 0.8%.
A report from the Conference Board showed consumer confidence in the U.S. saw a slight improvement from an upwardly revised level in the month of July. The report said the board's consumer confidence index inched up to 129.1 in July from an upwardly revised 128.9 in June. Economists had expected the index to drop to 124.9 from the 127.3 originally reported for the previous month.
With the unexpected uptick, the consumer confidence index reached its highest level since hitting 132.6 in February of 2020.
The dollar index, which slid to 92.32 earlier this afternoon, recovered a bit subsequently and was last seen at 92.46, about 0.21% down from the previous close.
Against the Euro, the dollar weakened to $1.1819 from $1.1830.
The Pound Sterling strengthened by nearly 0.5%, fetching $1.3883 a unit, compared to $1.3817 Monday evening.
Against the Yen, the dollar weakened nearly 0.6%, trading at 109.77 yen, as against 110.39 yen yesterday. The yen rose as risk sentiment weakened due to the regulatory crackdown by China on U.S.-listed technology firms.
Against the Aussie, the dollar firmed to 0.7361 from 0.7382.
The dollar weakened to 1.0934 against Swiss franc. The Loonie eased to 1.2602 a dollar, dropping from 1.2551.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180170/
Australian Dollar Outlook: AUD/USD Snubs Hot Q2 CPI as Sydney Lockdown Extends
Dow Jones Falls on Apple, Microsoft and Alphabet Earnings, Nikkei 225 May Follow
Japanese Yen Outlook: USD/JPY Drops on Haven Flows as Traders Brace for FOMC
Treasuries Move To The Upside Ahead Of Fed Announcement
After ending the previous session modestly higher, treasuries saw some further upside during trading on Tuesday.
Bond prices moved to the upside early in the session and remained firmly positive throughout the day. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, fell by 4.2 basis points to 1.234 percent.
The advance by treasuries came as traders looked to the relative safety of bonds amid uncertainty ahead of the Federal Reserve's monetary policy announcement on Wednesday.
Traders are likely to pay close attention to the Fed's statement for any clues the central bank is considering scaling back its asset purchase program.
Treasuries may also have benefited from a Commerce Department report showing durable goods orders increased by much less than expected in the month of June.
The report said durable goods orders climbed by 0.8 percent in June after spiking by an upwardly revised 3.2 percent in May.
Economists had been expecting orders to surge up by 2.1 percent compared to the 2.3 percent jump that had been reported for the previous month.
Excluding orders for transportation equipment, durable goods orders rose by 0.3 percent in June following a 0.5 percent increase in May. Ex-transportation orders were expected to climb by 0.8 percent.
Meanwhile, a separate report from the Conference Board showed consumer confidence in the U.S. saw a slight improvement from an upwardly revised level in the month of July.
The Conference Board said its consumer confidence index inched up to 129.1 in July from an upwardly revised 128.9 in June. Economists had expected the index to drop to 124.9 from the 127.3 originally reported for the previous month.
With the unexpected uptick, the consumer confidence index reached its highest level since hitting 132.6 in February of 2020.
Treasuries remained positive as the Treasury Department revealed that this month's auction of $61 billion worth of five-year notes attracted average demand.
The five-year note auction drew a high yield of 0.710 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 2.37.
The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.
Trading on Wednesday is likely to be driven by reaction to the Federal Reserve's latest monetary policy announcement.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180169/
Oil Futures Settle Lower Ahead Of Inventory Data
Crude oil priced drifted lower on Tuesday after moving around the flat line for much of the day's session till noon with traders weighing demand prospects and looking ahead to weekly inventory data.
Signs of tight supply and improving vaccination rates offset worries about the spread of the delta variant coronavirus and supported crude prices a bit early on in the day.
Traders continue to believe that overall supply will fall short of expected demand despite a decision by the OPEC and its allies, collectively known as OPEC+, to raise production through the rest of the year.
It is expected that rising vaccination rates will help offset any negative impact on demand due to surging COVID-19 cases worldwide.
Still, traders stayed wary of building up long positions, presumably on concerns energy demand could drop in the event of some major oil importing countries deciding to impose fresh restrictions to curb the spread of the coronavirus variants.
West Texas Intermediate Crude oil futures for September ended down by $0.26 or about 0.4% at $71.65 a barrel.
Brent crude futures were down $0.33 or 0.44% at $73.37 a barrel a little while ago.
Weekly inventory data from the American Petroleum Institute is due later today. The Energy Information Administration's data is due Wednesday morning.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180168/
Gold Futures Settle Slightly Higher
Gold futures settled slightly higher on Tuesday, supported by a weak dollar ahead of the Federal Reserve's policy announcement, due on Wednesday.
Weakness in stock markets following a regulatory crackdown by China on U.S.-listed technology firms contributed as well to the yellow metal's uptick.
The dollar index dropped to 92.32, losing nearly 0.4% from Monday's close.
Gold futures for August ended up by $0.60 or about 0.03% at $1,799.80 an ounce.
Silver futures for September ended lower by $0.669 or about 2.6% at $24.649 an ounce, while Copper futures for September settled at $4.5445 per pound, down $0.0405 or 0.9% from the previous close.
A two-day policy meeting of the U.S. Federal Reserve got underway this afternoon. Investors are waiting to see how the central bank will balance fast-rising prices with the complication of increased coronavirus infections.
The Fed's policy statement will be issued at 2 PM ET on Wednesday, followed by a news conference by Fed Chairman Jerome Powell.
In economic news, the Commerce Department released a report showing durable goods orders climbed by 0.8% in June after spiking by an upwardly revised 3.2% in May. Economists had been expecting orders to surge up by 2.1% compared to the 2.3% jump that had been reported for the previous month.
Excluding orders for transportation equipment, durable goods orders rose by 0.3% in June following a 0.5% increase in May. Ex-transportation orders were expected to climb by 0.8%.
A separate report from the Conference Board showed consumer confidence in the U.S. saw a slight improvement from an upwardly revised level in the month of July.
The Conference Board said its consumer confidence index inched up to 129.1 in July from an upwardly revised 128.9 in June. Economists had expected the index to drop to 124.9 from the 127.3 originally reported for the previous month. With the unexpected uptick, the consumer confidence index reached its highest level since hitting 132.6 in February of 2020.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180167/
Five-Year Note Auction Attracts Average Demand
After revealing modestly below average demand for this month's two-year note auction on Monday, the Treasury Department revealed Tuesday that this month's auction of $61 billion worth of five-year notes attracted average demand.
The five-year note auction drew a high yield of 0.710 percent and a bid-to-cover ratio of 2.36.
The Treasury also sold $61 billion worth of five-year notes last month, drawing a high yield of 0.904 percent and a bid-to-cover ratio of 2.36.
The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.
The ten previous five-year note auctions had an average bid-to-cover ratio of 2.37.
On Thursday, the Treasury is due 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/2180166/
IMF Raises Global Growth Forecast For Next Year
The International Monetary Fund on Tuesday raised the global growth forecast for next year and the growth is projected to be driven largely by the expansion in the advanced economies, while their emerging and developing peers are set to have modest gains. The global growth forecast for 2022 was raised to 4.9 percent from 4.4 percent, the IMF said in an update to its World Economic Forecast.
"The 0.5 percentage-point upgrade for 2022 derives largely from the forecast upgrade for advanced economies, particularly the United States, reflecting the anticipated legislation of additional fiscal support in the second half of 2021 and improved health metrics more broadly across the group," the IMF said. The growth projection for this year was retained at 6.0 percent.
"The recovery is not assured until the pandemic is beaten back globally," IMF Chief Economist Gita Gopinath said. The global lender forecast inflation to return to its pre-Covid levels in most countries next year, once the impact of the unusual developments related to the pandemic and transitory supply-demand mismatches work their way through prices. High food prices may lead to elevated inflation in some emerging market and developing economies, the report said. The IMF urged central banks to generally look through transitory inflation pressures and avoid tightening until there is more clarity on underlying price dynamics. The lender also stressed that clear communication from central banks on the outlook for monetary policy will be key to shaping inflation expectations and safeguarding against premature tightening of financial conditions. "There is, however, a risk that transitory pressures could become more persistent and central banks may need to take preemptive action," the IMF said.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180165/
Tuesday, 27 July 2021
*Finland July Consumer Confidence 4.4 Vs. 4.6 In June
Finland July Consumer Confidence 4.4 Vs. 4.6 In June
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180120/
*Finland June Retail Sales Turnover Up 5.0% On Year
Finland June Retail Sales Turnover Up 5.0% On Year
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180119/
*Finland June Jobless Rate 7.6% Vs. 7.7% In Last Year
Finland June Jobless Rate 7.6% Vs. 7.7% In Last Year
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180118/
BTC/USD Outlook: Cryptos in the Red Again as Amazon Denies Bitcoin Adoption
Hang Seng Index (HSI) Plummets Further on China Technology Clampdown
British Pound (GBP) Price Outlook: GBP/USD Facing Trendline Resistance
US Dollar Up as FOMC Meeting Nears, Consumer Confidence Data Eyed
EUR Q3 Fundamental Forecast: ECB Review May Lead to Euro Weakness
Gold Prices Test $1800 Ahead of Fed Meeting, Real Yields Fall
South Korea GDP Expands 0.7% On Quarter In Q2
South Korea's gross domestic product climbed a seasonally adjusted 0.7 percent on quarter in the second quarter of 2021, the Bank of Korea said in Tuesday's advance estimate.
That was in line with expectations following the 1.7 percent growth in the previous three months.
Real gross domestic income (GDI) decreased by 0.6 percent compared to the previous quarter.
On the expenditure side, private consumption was up by 3.5 percent, as expenditures on semi-durable goods (e.g. clothing) and services (e.g. recreation & culture, restaurants & accommodation services) increased.
Government consumption rose by 3.9 percent, with increased expenditures on health care benefits.
Construction investment contracted by 2.5 percent, as building construction and civil engineering both decreased. Facilities investment grew by 0.6 percent, driven by an increase in transportation equipment.
Exports fell by 2.0 percent, due to decreases in motor vehicles and LCDs. Imports were up by 2.8 percent, owing to increased imports of basic metals and chemical products.
On the production side, agriculture, forestry & fishing decreased by 13.6 percent, as crop yields declined.
Manufacturing fell by 1.2 percent, due to a decrease in transportation equipment. Electricity, gas & water supply declined by 3.5 percent, due to a decrease in electricity.
Construction fell by 1.4 percent, owing to a decrease in civil engineering. Services increased by 1.9 percent, mainly in transportation & storage and cultural & other services.
On an annualized basis, GDP was up 5.9 percent - just shy or forecasts for an increase of 6.0 percent but up from 1.9 percent in the three months prior.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180117/
AUD/USD at Risk Amid Less-Dovish Fed, PBOC Normalization, Australia-China Tensions: Q3 Top Trading Opportunities
South Korea GDP Climbs 0.7% On Quarter In Q2
South Korea's gross domestic product expanded a seasonally adjusted 0.7 percent on quarter in the second quarter of 2021, the Bank of Korea said in Tuesday's advance estimate.
That was in line with expectations following the 1.7 percent growth in the previous three months.
On an annualized basis, GDP was up 5.9 percent - just shy or forecasts for an increase of 6.0 percent but up from 1.9 percent in the three months prior.
Real gross domestic income (GDI) decreased by 0.6 percent compared to the previous quarter.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180116/
*South Korea GDP +0.7% On Quarter, +5.9% On Year In Q2
South Korea GDP +0.7% On Quarter, +5.9% On Year In Q2
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180115/
Crude Oil Forecast: Delta Variant, Chinese Regulatory Measures Weigh on Prices
4 Effective Trading Indicators Every Trader Should Know
Dollar Loses Ground Against Peers As Traders Await Fed Meeting
The U.S. dollar lost ground against its major rivals on Monday ahead of the U.S. Federal Reserve's monetary policy meeting which begins on Tuesday.
The dollar fell as treasury yields dropped after talks between the U.S. and China failed to resolve outstanding issues between the two sides triggered buying interest in safe-haven treasury bonds.
China's Vice Foreign Minister Xie Feng accused the Biden administration for suppressing the country's development and urged Washington "to change its highly misguided mindset and dangerous policy."
Traders now look ahead to the Federal Reserve's monetary policy meeting for more hints about its plan to scale back the bond buying program.
It is widely expected that the Fed will likely keep its funds target rate and quantitative easing programme unchanged. All eyes will be on the central bank's ongoing debate on tapering its $120 billion a month bond buying program.
Fed Chairman Jerome Powell acknowledged that current inflationary pressures could be transitory and stimulus measures will remain in place for some time.
In U.S. economic news, a report from the Commerce Department showed an unexpected steep drop in new home sales in the month of June.
The report said new home sales tumbled by 6.6% to an annual rate of 676,000 in June after plunging by 7.8% to a revised rate of 724,000 in May.
Economists had expected new home sales to jump by 4% to an annual rate of 800,000 from the 769,000 originally reported for the previous month.
With the unexpected decrease, new home sales slumped to their lowest annual rate since hitting 582,000 in April of last year.
The dollar index, which drifted down to 92.53, recovered a bit to 92.62, but was still down more than 0.3% from Friday's close.
Against the Euro, the dollar weakened to 1.1806, giving up nearly 0.3% from Friday's 1.1772. A survey showed German business confidence unexpectedly weakened in July as managers' optimism was clouded by problems with the supply of raw materials and other products and by an upturn in coronavirus infections.
The Pound Sterling was stronger against the dollar, fetching $1.3823 a unit, gaining from $1.3748. The Bank of England's external monetary policy committee member Gertjan Vlieghe said in a speech to the London School of Economics that the current monetary stimulus should be maintained for several quarters at least, and probably longer.
Against the Yen, the dollar weakened to 110.39 yen, easing from 110.55. The manufacturing sector in Japan continued to expand in July, albeit at a slower pace, the latest survey from Jibun Bank revealed on Monday with a manufacturing PMI score of 52.2.
The dollar dropped to 0.7383 against the Aussie from 0.7366.
The Swiss franc firmed to 0.9155 a dollar from 0.9194. The dollar was weak against the Loonie as well, dropping to C$1.2545 from C$1.2564.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180114/
Nasdaq 100 at Record High as Tesla Earnings Beat, Will Hang Seng Rebound?
Treasuries Close Modestly Higher But Well Off Best Levels
After trending lower over the past few sessions, treasuries regained some ground during trading on Monday.
Bond prices pulled back after seeing initial strength but managed to close modestly higher. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, edged down by 1 basis point to 1.276 percent.
The early advance by treasuries may have reflected concerns about the outlook for the global economy as the delta variant of the coronavirus continues to spread.
Worries about tensions between the U.S. and China may also have increased the appeal of bonds, with Chinese Vice Foreign Minister Xie Feng saying that the relationship between the world's two largest economies "is now in a stalemate and faces serious difficulties."
Buying interest waned shortly after the start of trading, however, as traders looked ahead to the Federal Reserve's monetary policy announcement on Wednesday.
The Fed is expected to leave interest rates unchanged, but traders will be paying close attention to any comments regarding the central bank's asset purchase program.
In U.S. economic news, the Commerce Department released a report this morning unexpectedly showing another steep drop in new home sales in the month of June.
The report said new home sales tumbled by 6.6 percent to an annual rate of 676,000 in June after plunging by 7.8 percent to a revised rate of 724,000 in May.
The continued nosedive surprised economists, who had expected new home sales to jump by 4.0 percent to an annual rate of 800,000 from the 769,000 originally reported for the previous month.
With the unexpected decrease, new home sales slumped to their lowest annual rate since hitting 582,000 in April of last year.
Meanwhile, the Treasury Department revealed this month's auction of $60 billion worth of two-year notes attracted modestly below average demand.
The two-year note auction drew a high yield of 0.213 percent and a bid-to-cover ratio of 2.47, while the ten previous two-year note auctions had an average bid-to-cover ratio of 2.53.
The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold.
Looking ahead, the Treasury is due to announce the results of this month's auction of $61 billion worth of five-year notes on Tuesday
Trading on Tuesday may also be impacted by reaction to reports on durable goods orders and consumer confidence, although activity is likely to remain light ahead of the Fed announcement.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180113/
IBEX 35 Analysis: Rally Continues Despite Virus Fears, Focus Shifts to Fed
Oil Futures Snap 4-day Winning Streak, Settle Marginally Down
Crude oil futures settled lower on Monday amid worries about outlook for energy demand due to the rapidly spreading delta variant of the coronavirus in several countries across the world.
West Texas Intermediate Crude oil futures for September ended down by $0.16 or about 0.2% at $71.91 a barrel, after four successive days of gains.
In coronavirus news, Russia's total virus cases surpassed 6 million and Turkey said cases in the country tripled on Sunday compared with earlier this month.
The world's largest crude importer China reported 76 new COVID-19 cases on Sunday, the highest since the end of January amid a surge of local infections in the eastern city of Nanjing.
China's central and eastern parts are also reeling under severe floods and a typhoon.
With strong U.S. demand and expectations of tight supplies underpinning prices, investors now look ahead to a Federal Reserve meeting and U.S. oil inventories data for further direction.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180112/
Gold Futures Settle Marginally Lower
Gold futures settled lower on Monday although the downside was just marginal due to the dollar's weakness.
A drop in long-term treasury yields amid worries about growth due to rising delta variant of the coronavirus pushed up the demand for the yellow metal.
Traders were largely making cautious moves as they awaited the Federal Reserve's two-day monetary policy meeting which begins on Tuesday.
The central bank will announce its monetary policy on Wednesday. The Fed is expected to leave interest rates unchanged, but traders will be paying close attention to any comments regarding the bank's asset purchase program.
The dollar index dropped to 92.53 before recovering a bit to 92.62, still staying notably lower than its previous close of 92.91.
Gold futures for August ended down by $2.60 or about 0.1% at $1,799.20 an ounce, the lowest settlement since July 6.
Silver futures for September closed up by $0.85 or about 0.3% at $25.318 an ounce, while Copper futures for September settled at $4.5850 per pound, gaining $0.1850 or 4.2%.
A survey showed German business confidence weakened unexpectedly in July as managers' optimism was clouded by problems with the supply of raw materials and other products and by an upturn in coronavirus infections.
U.S.-China tensions intensified after Chinese Vice Foreign Minister Xie Feng said that the relationship between the world's two largest economies "is now in a stalemate and faces serious difficulties."
In U.S. economic news, a report from the Commerce Department showed an unexpected steep drop in new home sales in the month of June.
The report said new home sales tumbled by 6.6% to an annual rate of 676,000 in June after plunging by 7.8% to a revised rate of 724,000 in May.
Economists had expected new home sales to jump by 4% to an annual rate of 800,000 from the 769,000 originally reported for the previous month. With the unexpected decrease, new home sales slumped to their lowest annual rate since hitting 582,000 in April of last year.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180111/
Australian Dollar Forecast: AUD/USD May Rise on Chinese Industrial Profits
How to Trade Forex News: An Introduction
Monday, 26 July 2021
Finland Producer Price Inflation Slows In June
Finland's producer price inflation eased in June, data from Statistics Finland showed on Monday.
Producer prices increased 11.0 percent year-on-year in June, after a 11.2 percent rise in May.
The increase in the producer prices for manufactured products was particularly attributable to risen prices of oil products and basic metals from June last year.
Import prices grew 12.6 percent annually in June and export prices rose by 11.8 percent.
On a month-on-month basis, producer prices rose 1.6 percent in June, after a 2.3 percent increase in the prior month.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180079/
EUR/USD Outlook: Euro Sentiment Soft Eyes on Fed Meeting
*Singapore June Industrial Production -0.3% On Month Vs. +4.4% In May
Singapore June Industrial Production -0.3% On Month Vs. +4.4% In May
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180078/
*Singapore June Industrial Production +27.5% On Year Vs. 27.0% In May
Singapore June Industrial Production +27.5% On Year Vs. 27.0% In May
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180077/
*Finland Jun Import Prices Up 12.6% Annually
Finland Jun Import Prices Up 12.6% Annually
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180076/
*Finland Jun Producer Prices Rise 11% On Year
Finland Jun Producer Prices Rise 11% On Year
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180074/
*Finland Jun Producer Prices Up 1.6% M-o-M
Finland Jun Producer Prices Up 1.6% M-o-M
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180075/
European Economics Preview: German Ifo Business Confidence Data Due
Business confidence data from Germany is due on Monday, headlining a light day for the European economic news.
At 1.00 am ET, Statistics Finland publishes producer and import price data for June.
At 3.00 am ET, producer prices from Spain and business sentiment survey data from the Czech Republic are due.
In the meantime, manufacturing confidence survey results are due from Turkey.
At 4.00 am ET, Germany's ifo Institute is scheduled to release business confidence survey data for July. The business sentiment index is seen rising to 102.1 in July from 101.8 in the previous month.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180073/
DAX 30 Outlook: IFO Business Data Shows Dampening Sentiment
Bitcoin (BTC), Ethereum (ETH) Surge on Amazon Payment Rumor
Gold Prices May Struggle Despite China Stocks Drop as FOMC Looms
Japan Manufacturing PMI Slows To 52.2 In July - Jibun
The manufacturing sector in Japan continued to expand in July, albeit at a slower pace, the latest survey from Jibun Bank revealed on Monday with a manufacturing PMI score of 52.2.
That's down from 52.4, although it remains above the boom-or-but line of 50 that separates expansion from contraction.
Both output and new order growth eased to six-month lows in the latest survey period amid rising COVID-19 cases and ongoing delays in receiving raw materials. Manufacturers also noted that demand for staff eased in July, with the rate of job creation the softest since April. Nonetheless, positive sentiment remained strong overall, despite easing slightly from June.
The survey also showed that the services PMI fell to 46.4 from 47.2 in June, while the composite index slipped to 47.7 from 48.9.
New business inflows also reduced further, extending the current sequence of decline to one-and-a-half years as continued restrictions on movement and businesses hampered activity. Moreover, employment saw a renewed contraction as demand fell, with job shedding being reported for the first time since December 2020.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180072/
*Japan Composite Index 47.7 In July - Jibun
Japan Composite Index 47.7 In July - Jibun
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180071/
*Japan Manufacturing PMI 52.2 In July - Jibun
Japan Manufacturing PMI 52.2 In July - Jibun
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180069/
*Japan Services PMI 46.4 In July - Jibun
Japan Services PMI 46.4 In July - Jibun
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180070/
New Zealand Has NZ$261 Million Trade Surplus In June
New Zealand posted a merchandise trade surplus of NZ$261 million in June, Statistics New Zealand said on Monday - down from NZ$489 million in May.
Exports climbed NZ$871 million or 17 percent on year to NZ$5.95 billion, up from NZ$5.89 billion in the previous month.
Imports jumped NZ$1.1 billion or 24 percent on year to NZ$5.69 billion, up from NZ$5.4 billion a month earlier.
Exports of logs and wood reached a new high, up NZ$105 million (23 percent) from June 2020 to NZ$561 million in June 2021. This increase was driven by logs. Logs' export value rose NZ$87 million to reach record levels, driven by an increase in unit values (up 26 percent).
"The average value of untreated log exports has been steadily rising from the low in July 2020 to reach NZ$199 per cubic metre in June 2021," international trade manager Alasdair Allen said.
Beef exports rose NZ$31 million to reach a new high of NZ$411 million in June 2021, compared with June 2020. This increase was quantity driven, with volumes up 8.5 percent. The previous high for beef export values was in the March 2020 month (NZ$405 million).
Milk powder, butter, and cheese also drove the rise in total exports, up NZ$384 million (31 percent). Kiwifruit also rose NZ$129 million (43 percent) from June 2020.
China continues to receive the largest share of New Zealand exports. In June 2021, China received 32 percent of New Zealand's total exports. China received NZ$703 million (44 percent) of dairy, NZ$367 million (90 percent) of logs, and NZ$329 million (41 percent) of meat.
For the second quarter of 2021, exports were up NZ$1.5 billion or 9.2 percent on year to a record NZ$17.2 billion following a 1.4 percent fall in Q1.
Imports spiked NZ$3.4 billion or an annual 27 percent to NZ$16.1 billion following an 8.1 percent rise in the first quarter.
The quarterly trade balance showed a deficit of NZ$601 million.
In the year to June, annual goods exports were valued at NZ$60.4 billion, up NZ$180 million (0.3 percent) from the previous year.
Annual goods imports were valued at NZ$60.7 billion, down NZ$699 million (1.1 percent) from the previous year.
The annual goods trade balance was a deficit of NZ$252 million. In the year ended June 2020, there was a deficit of NZ$1.1 billion.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180068/
New Zealand Posts NZ$261 Million Trade Surplus In June
New Zealand had a merchandise trade surplus of NZ$261 million in June, Statistics New Zealand said on Monday - down from NZ$489 million in May.
Exports climbed NZ$871 million or 17 percent on year to NZ$5.95 billion, up from NZ$5.89 billion in the previous month.
Imports jumped NZ$1.1 billion or 24 percent on year to NZ$5.69 billion, up from NZ$5.4 billion a month earlier.
For the second quarter of 2021, exports were up NZ$1.5 billion or 9.2 percent on year to a record NZ$17.2 billion. Imports spiked NZ$3.4 billion or an annual 27 percent to NZ$16.1 billion.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180067/
*New Zealand Exports NZ$5.95 Billion In June; Imports NZ$5.69 Billion
New Zealand Exports NZ$5.95 Billion In June; Imports NZ$5.69 Billion
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180066/
*New Zealand Has NZ$261 Million Trade Surplus In June
New Zealand Has NZ$261 Million Trade Surplus In June
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180065/
US Dollar Outlook: Federal Reserve in Focus for SGD, THB, IDR, PHP Amid Covid Risks
New Zealand Trade Data Due On Monday
New Zealand will on Monday release June figures for imports, exports and trade balance, highlighting a modest day for Asia-Pacific economic activity.
In May, imports were worth NZ$5.4 billion and exports were at NZ$5.87 billion for a trade surplus of NZ$469 million.
Japan will see July results for the manufacturing, services and composite indexes from Jibun Bank; in June, their scores were 52.4, 47.2 and 47.8, respectively.
Singapore will provide June numbers for industrial production; in May, output was up 7.2 percent on month and 30.0 percent on year.
Hong Kong will release June figures for imports, exports and trade balance. In May, imports jumped 26.5 percent on year and exports rose an annual 24.0 percent for a trade deficit of HKD25.5 billion.
Finally, the markets in Thailand are closed on Monday for Asarnha Bucha Day and will re-open on Tuesday.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2180064/