Japan Industrial Production Falls 3.2% In August

The value of industrial output in Japan was down a seasonally adjusted 4.3 percent on month in August, the Ministry of Economy, Trade and Industry said on Thursday.

That missed expectations for a decline of 0.5 percent following the 1.5 percent contraction in July.

On a yearly basis, industrial production advanced 9.3 percent - beating forecasts for a gain of 8.0 percent after rising 11.6 percent in the previous month.

Upon the release of the data, the METI's assessment of industrial production was that it is pausing.

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source http://www.mt5.com/forex_news/quickview/2183355/

*Japan Retail Sales -3.2% On Year In August

Japan Retail Sales -3.2% On Year In August

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source http://www.mt5.com/forex_news/quickview/2183354/

*Japan Industrial Production -3.2% On Month, +9.3% On Year In August

Japan Industrial Production -3.2% On Month, +9.3% On Year In August

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source http://www.mt5.com/forex_news/quickview/2183353/

South Korea Industrial Output Falls 0.7% In August

Industrial production in South Korea sank a seasonally adjusted 0.7 percent on month in August, Statistics Korea said on Thursday.

That missed expectations for an increase of 0.5 percent following the upwardly revised 0.2 percent gain in July (originally -1.5 percent).

On a yearly basis, industrial production climbed 9.6 percent - exceeding expectations for an increase of 8.2 percent following the downwardly revised 7.7 percent gain in the previous month (originally 11.6 percent).

The Index of all industry production in August decreased by 0.2 percent on month and increased 6.0 percent on year.

The Manufacturing Production Index fell 0.4 percent on month but increased by 10.1 percent on year. The Manufacturing Shipment Index shed 2.5 percent on month but climbed 6.3 percent on year. The Manufacturing Inventory Index gained 4.9 percent on month but lost 0.8 percent on year.

The Production Capacity Index rose 0.2 percent on month and 0.9 percent on year. The Index of Capacity Utilization Rate added 0.2 percent on month and 7.9 percent on year.

The Manufacturing Average Capacity Utilization Rate in August marked 74.1 percent, up 0.2 percentage points from the previous month. The Index of Services fell 0.6 percent on month but increased by 4.4 percent on year.

The Retail Sales Index dropped 0.8 percent on month but increased 3.8 percent on year. The Equipment Investment Index dropped 5.1 percent on month but jumped 11.8 percent on year.

The Domestic Machinery Shipment spiked 13.1 percent on year. The value of Domestic Machinery Orders Received surged an annual 21.9 percent.

The value of Construction Completed at constant prices increased 1.6 percent on month and 0.3 percent on year. The value of Construction Orders Received at current prices soared 15.3 percent on year.

The Composite Coincident Index rose 0.2 percent on month. The Cyclical Component of Composite Coincident Index, which reflects current economic situations, showed no change from the previous month.

The Composite Leading Index added 0.1 percent on month. The Cyclical Component of Composite Leading Index, which predicts the turning point in business cycle, fell 0.3 points on month.

Also on Thursday: . Statistics Korea said that the value of retail sales in South Korea was down a seasonally adjusted 0.8 percent on month in August. That follows the upwardly revised 0.5 percent decline in July (originally -0.6 percent).

On a yearly basis, retail sales climbed 3.8 percent, slowing from 7.9 percent in the previous month.

. The Bank of Korea said that business sentiment in South Korea slipped in September, with a Business Survey Index score of 90 - down from 95 in August. The outlook fell from 96 to 93.

In the non-manufacturing sector, the BSI on business conditions for September was 79, down from 81 in the previous month, but for the outlook for remained unchanged at 81.

The Economic Sentiment Index (ESI) - a composite of the BSI and the CSI (Consumer Survey Index) - for September was 104.6, down 0.7 points from August.

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

source http://www.mt5.com/forex_news/quickview/2183352/

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Gold Price Outlook Looks to Treasury Yields as US Dollar Gains, Where To From Here?

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South Korea Retail Sales Sink 0.8% On Month In August

The value of retail sales in South Korea was down a seasonally adjusted 0.8 percent on month in August, Statistics Korea said on Thursday.

That follows the upwardly revised 0.5 percent decline in July (originally -0.6 percent).

On a yearly basis, retail sales climbed 3.8 percent, slowing from 7.9 percent in the previous month.

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

source http://www.mt5.com/forex_news/quickview/2183351/

South Korea Industrial Production Slips 0.7% In August

Industrial output in South Korea was down a seasonally adjusted 0.7 percent on month in August, Statistics Korea said on Thursday.

That missed expectations for an increase of 0.5 percent following the upwardly revised 0.2 percent gain in July (originally -1.5 percent).

On a yearly basis, industrial production climbed 9.6 percent - exceeding expectations for an increase of 8.2 percent following the downwardly revised 7.7 percent gain in the previous month (originally 11.6 percent).

The Index of all industry production in August decreased by 0.2 percent on month and increased 6.0 percent on year.

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

source http://www.mt5.com/forex_news/quickview/2183350/

*South Korea Industrial Production -0.7% On Month, +9.6% On Year In August

South Korea Industrial Production -0.7% On Month, +9.6% On Year In August

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source http://www.mt5.com/forex_news/quickview/2183348/

*South Korea Retail Sales -0.8% On Month In August

South Korea Retail Sales -0.8% On Month In August

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source http://www.mt5.com/forex_news/quickview/2183349/

New Zealand Building Permits Rise 3.8% In August

The total number of building permits issued in New Zealand was up a seasonally adjusted 3.8 percent on month in August, Statistics New Zealand said on Thursday - coming in at 4,490.

That follows the 2.2 percent increase in July.

Individually, permits were issued for 2,190 stand-alone houses, 1,869 townhouses, flats, and units, 269 retirement village units and 162 apartments.

In the year ended August 2021, the actual number of new dwellings consented was 46,453, up 24 percent from the August 2020 year.

The annual value of non-residential building work consented was NZ$7.9 billion, up 15 percent from the August 2020 year.

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

source http://www.mt5.com/forex_news/quickview/2183347/

South Korea Business Confidence Ebbs In September - BoK

Business sentiment in South Korea slipped in September, the Bank of Korea said on Thursday with a Business Survey Index score of 90 - down from 95 in August.

The outlook fell from 96 to 93.

In the non-manufacturing sector, the BSI on business conditions for September was 79, down from 81 in the previous month, but for the outlook for remained unchanged at 81.

The Economic Sentiment Index (ESI) - a composite of the BSI and the CSI (Consumer Survey Index) - for September was 104.6, down 0.7 points from August.

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

source http://www.mt5.com/forex_news/quickview/2183346/

Japan Data On Tap For Thursday

Japan is scheduled to release a raft of data on Thursday, headlining a busy day for Asia-Pacific economic activity. On tap are August figures for industrial production, retail sales, housing starts and construction orders.

Industrial production is tipped to fall 0.5 percent on month and gain 8.0 percent on year after falling 1.5 percent on month and rising 11.6 percent on year in July. Retail sales are predicted to fall 1.0 percent on year after rising 2.4 percent a month earlier.

Housing starts are expected to climb 9.5 percent on year, down from 9.9 percent in July. Construction orders were down 3.4 percent on year in the previous month.

New Zealand will release August numbers for building permits; in July, permits were up 2.1 percent on month.

The Philippines will release August numbers for producer prices; in July, producer prices were down 1.5 percent on year.

Australia will provide August figures for building permits and private sector credit. Permits are expected to have fallen 5.0 percent on month after slipping 8.6 percent in July. Credit was up 0.7 percent on month and 4.0 percent on year in July.

South Korea will see August data for industrial production and retail sales. Output is expected to rise 8.2 percent on year, up from 7.9 percent in the previous month. In July, retail sales fell 0.6 percent on month and gained 7.9 percent on year.

China will see September results for its manufacturing and non-manufacturing PMIs; in August, their scores were 50.1 and 47.5, respectively. China also will see September results for the manufacturing PMI from Caixin, with forecasts suggesting a score of 49.5, up from 49.2 a month earlier.

Hong Kong will provide August figures for retail sales; in July, sales were up 0.9 percent on year.

Thailand will release July figures for retail sales and August numbers for private consumption, current account and its coincident index. In June, retail sales jumped 14.0 percent on year. In July, consumption was down 5.3 percent on month, the current account showed a deficit of $0.7 billion and the coincident index had a score of 126.28.

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

source http://www.mt5.com/forex_news/quickview/2183344/

*New Zealand Building Permits +3.8% On Month In August

New Zealand Building Permits +3.8% On Month In August

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

source http://www.mt5.com/forex_news/quickview/2183345/

*South Korea Business Confidence Index 90.0 In September - BoK

South Korea Business Confidence Index 90.0 In September - BoK

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source http://www.mt5.com/forex_news/quickview/2183343/

U.S. Dollar Climbs To Highest Levels In A Year

The value of the U.S. dollar has shown a significant move to the upside over the course of trading on Wednesday.

The U.S. dollar index has advanced by 0.64 points or 0.7 percent to 94.40 after reaching its highest intraday level in a year.

The greenback is trading at 111.98 yen compared to the 111.50 yen it fetched at the close of New York trading on Tuesday. Against the euro, the dollar is trading at $1.1595 compared to yesterday's $1.1683.

The strength in the value of the U.S. dollar comes as traders continue to digest indications the Federal Reserve plans to begin scaling back its asset purchases in the near future.

The dollar saw further upside as after Federal Reserve Chair Jerome Powell warned inflation could be held up longer than previously thought due to supply chain problems.

"The current inflation spike is really a consequence of supply constraints meeting very strong demand, and that is all associated with the reopening of the economy, which is a process that will have a beginning, a middle and an end," Powell said during a virtual forum with other central bank leaders

"We see those things resolving," he added but noted, "It's very difficult to say how big those effects will be in the meantime or how long they will last."

On the U.S. economic front, the National Association of Realtors released a report showing pending home sales skyrocketed by much more than expected in the month of August.

NAR said its pending home sales soared by 8.1 percent to 119.5 in August after tumbling by 2.0 percent to a revised 110.5 in July.

Economists had expected pending home sales to jump by 1.4 percent compared to the 1.8 percent slump 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.

The pending home sales index reached its highest level since January but was still down by 8.3 percent compared to the same month a year ago.

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

source http://www.mt5.com/forex_news/quickview/2183342/

AUD/USD Rebound Intact After Mixed Chinese PMI Data, Downside Risks Remain

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Oil Futures Settle Lower As Inventories Climb Up

Crude oil futures settled lower on Wednesday, weighed by a stronger dollar and data showing a surge in U.S. crude stockpiles last week.

The dollar rose to a new yearly high, with the index climbing to 94.43.

Data released by U.S. Energy Information Administration (EIA) showed crude stockpiles increased by about 4.6 million barrels in the week ended September 24, rising for the first time in eight weeks. Markets had expected crude stockpiles to see a drop of 4.5 million barrels in the week.

West Texas Intermediate Crude oil futures for November ended down by $0.46 or about 0.6% at $74.83 a barrel.

Brent crude futures dropped by about $0.45 or 0.6% to $79.64 a barrel.

The EIA's report also showed gasoline inventories rose by 200,000 barrels last week, as against an expected increase of about 700,000 barrels, and distillate stockpiles rose by 400,000 barrels, against an expected decline of 2.2 million barrels.

The American Petroleum Institute on Tuesday reported crude oil inventories rose by 4.1 million barrels last week.

Crude stocks at the Cushing, Oklahoma, storage hub, increased by 200,000 barrels last week, the EIA report showed. The report also said total U.S. petroleum production rose by 500,000 barrels to 11.1 million barrels per day.

Meanwhile, traders look ahead to the upcoming meeting of The Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+. The group is scheduled to meet on Monday (October 4) to discuss production plans.

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source http://www.mt5.com/forex_news/quickview/2183341/

Treasuries Close Slightly Lower After Seeing Early Strength

After moving to the upside early in the session, treasuries moved modestly lower over the course of the trading day on Wednesday.

Bond prices pulled back well off their early highs but managed to climb off their worst levels going into the close. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, inched up by less than a basis point to 1.541 percent.

With the slight uptick on the day, the ten-year yield closed higher for the seventh consecutive session, reaching its highest closing level in over three months.

Treasuries initially benefited from bargain hunting following the sell-off seen over the past several sessions, although buying interest waned over the course of the morning.

The subsequent downturn by treasuries came after Federal Reserve Chair Jerome Powell warned inflation could be held up longer than previously thought due to supply chain problems.

"The current inflation spike is really a consequence of supply constraints meeting very strong demand, and that is all associated with the reopening of the economy, which is a process that will have a beginning, a middle and an end," Powell said during a virtual forum with other central bank leaders

"We see those things resolving," he added but noted, "It's very difficult to say how big those effects will be in the meantime or how long they will last."

Treasuries have been trending lower since the Fed signaled last week that it is likely to begin scaling back its asset purchases in the near future.

On the U.S. economic front, the National Association of Realtors released a report showing pending home sales skyrocketed by much more than expected in the month of August.

NAR said its pending home sales soared by 8.1 percent to 119.5 in August after tumbling by 2.0 percent to a revised 110.5 in July.

Economists had expected pending home sales to jump by 1.4 percent compared to the 1.8 percent slump 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.

The pending home sales index reached its highest level since January but was still down by 8.3 percent compared to the same month a year ago.

A report on weekly jobless claims may attract attention on Thursday along with another day of Congressional testimony by Powell.

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

source http://www.mt5.com/forex_news/quickview/2183340/

Gold Futures Settle Lower For 2nd Straight Day

Gold prices drifted lower on Wednesday and pushed the most active gold futures contract to their lowest settlement in nearly six month, as the dollar climbed on hopes about the Fed tapering its bond-buying program in the foreseeable future.

The dollar index climbed to a fresh yearly high at 94.43, gaining more than 0.7%. It subsequently pared some gains and was hovering around 94.30.

Gold futures for December ended down by $14.60 or about 0.8% at $1,722.90 an ounce, losing for a second straight session.

Silver futures for December ended lower by $0.982 at $21.485 an ounce, while Copper futures for December settled at $4.1990 per pound, down $0.0475 from the previous close.

Data released by the National Association of Realtors showed pending home sales skyrocketed by much more than expected in the month of August, after falling in the previous two months.

NAR said its pending home sales soared by 8.1% to 119.5 in August after tumbling by 2% to a revised 110.5 in July.

Economists had expected pending home sales to jump by 1.4% compared to the 1.8% slump originally reported for the previous month.

The pending home sales index reached its highest level since January but was still down by 8.3% compared to the same month a year ago.

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

source http://www.mt5.com/forex_news/quickview/2183339/

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NZD/USD May Swing on China PMIs, ANZ Business Confidence, US Debt Ceiling

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UK Shop Prices Fall At Slower Pace In September: BRC

UK shop prices declined at a slower pace in September, data published by the British Retail Consortium, or BRC, showed on Wednesday. The shop price index dropped 0.5 percent on a yearly basis in September after easing 0.8 percent in August.

"There are now clear signs the months-long cost pressures from rising transport costs, labour shortages, Brexit red-tape, and commodity costs are starting to filter through to consumer prices," Helen Dickinson, chief executive at BRC, said.

Food prices edged up 0.1 percent and non-food prices were down 1 percent annually.

Food prices rose for the first time in six months and some non-food products, such as DIY & gardening, are seeing the highest rate of inflation since summer 2018, Dickinson noted.

Whilst non food retailers have so far able to mitigate a lot of the impact, the outlook is for shop price inflation to return over the next few months, Mike Watkins, head of Retailer and Business Insight, NielsenIQ, said.

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source http://www.mt5.com/forex_news/quickview/2183281/

Euro Little Changed After German Import Prices

At 2.00 am ET Wednesday, Destatis has released Germany's import prices for August. The euro changed little against its major rivals after the data.

The euro was trading at 1.1680 against the greenback, 130.24 against the yen, 0.8624 against the pound and 1.0856 against the franc around 2:04 am ET.

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source http://www.mt5.com/forex_news/quickview/2183280/

*Germany Aug Import Prices +16.5% On Year Vs. 15.0% In Jul, Consensus +16.1%

Germany Aug Import Prices +16.5% On Year Vs. 15.0% In Jul, Consensus +16.1%

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source http://www.mt5.com/forex_news/quickview/2183278/

*Germany Aug Import Prices +1.4% On Month Vs. +2.2% In Jul, Consensus +1.2%

Germany Aug Import Prices +1.4% On Month Vs. +2.2% In Jul, Consensus +1.2%

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source http://www.mt5.com/forex_news/quickview/2183279/

Euro Steady Ahead Of German Import Prices

At 2.00 am ET Wednesday, Destatis is slated to issue Germany's import prices for August. Import price inflation is seen rising to 16.1 percent from 15.0 percent in July.

Ahead of the data, the euro held steady against its major rivals.

The euro was worth 1.1684 against the greenback, 130.25 against the yen, 0.8524 against the pound and 1.0856 against the franc as of 1:55 am ET.

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

source http://www.mt5.com/forex_news/quickview/2183277/

US Dollar Prints a Fresh Multi-Month High, USD/JPY Consolidates Recent Rally

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European Economics Preview: Eurozone Economic Confidence Data Due

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

At 2.00 am ET, Destatis is slated to issue Germany's import prices for August. Import price inflation is seen rising to 16.1 percent from 15.0 percent in July.

At 3.00 am ET, the National Institute of Economic Research publishes Sweden's economic tendency survey results.

In the meantime, flash consumer price data from Spain and economic confidence data from Turkey are due.

At 4.30 am ET, the Bank of England is scheduled to release mortgage approvals data for August. The number of mortgages approved in August is seen at 73,000 versus 75,150 a month ago.

At 5.00 am ET, the European Commission releases economic confidence survey results. The economic sentiment index is forecast to fall to 116.9 in September from 117.5 in August.

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

source http://www.mt5.com/forex_news/quickview/2183276/

*UK Sep BRC Shop Price Index Falls 0.5% On Year

UK Sep BRC Shop Price Index Falls 0.5% On Year

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

source http://www.mt5.com/forex_news/quickview/2183275/

*UK Q3 Household Finance Index Falls To 44.0 From 44.7 In Q2

UK Q3 Household Finance Index Falls To 44.0 From 44.7 In Q2

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

source http://www.mt5.com/forex_news/quickview/2183274/

EU Breaking News: EUR/USD Unphased by Positive EU Sentiment Data, Bearish Euro

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WTI, Brent Looking to Extend Gains as Supply Crunch Sees Oil Surge

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Dollar Gains Against Major Rivals

The U.S. dollar gained in strength against its peers on Tuesday amid rising bond yields. Traders also bet on hopes the Fed will start reducing the size of its asset purchase program and raise interest rates next year.

Fed Chairman Jerome Powell said in his prepared remarks before the Senate Banking Committee that inflation in the U.S. is elevated and could persist in the coming months before dropping back towards the Fed's long-run 2% goal.

Fed Governor Lael Brainard said that the labor market would meet her criteria for tapering immediately, whereas New York Fed President John Williams indicated that slowing down the bond buying program may be required soon.

Meanwhile, a report released by the Conference Board showed a continued deterioration in U.S. consumer confidence in the month of September.

The Conference Board said its consumer confidence index tumbled to 109.3 in September from an upwardly revised 115.2 in August.

The decrease surprised economists, who had expected the index to inch up to 114.8 from the 113.8 originally reported for the previous month.

U.S. treasury yields rose, with the benchmark 10-year yield touching 1.52%.

The dollar index climbed to 93.81 before easing to 93.72, up by about 0.4%.

Against the Euro, the dollar to 1.1685 from 1.1696.

The Pound Sterling drifted down against the dollar, and was fetching $1.3539 a little while ago, declining from C$1.3639.

The Yen weakened to 111.51 against the dollar, easing from 111.01.

Against the Aussie, the dollar firmed to 0.7241 from 0.7286.

The Swiss franc weakened to 0.9293 from 0.9257, while the Loonie dropped to C$1.2683 a barrel, from C$12629.

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

source http://www.mt5.com/forex_news/quickview/2183273/

Thai Rate Decision On Tap For Wednesday

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

Thailand also will see August figures for industrial production, with forecasts suggesting a flat reading following the 5.12 percent increase in July.

Singapore will release August numbers for import prices, export prices and producer prices. In July, import prices were up 12.5 percent on year, export prices gained 13.0 percent on year and producer prices surged 17.0 percent on year.

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

source http://www.mt5.com/forex_news/quickview/2183272/

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Treasuries Extend Downward Trend, Lifting 10-Year Yield To Three-Month Closing High

Treasuries moved to the downside during trading on Tuesday, extending the sell-off seen over the past several sessions.

Bond prices regained ground after coming under pressure in early trading but remained firmly negative. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, climbed 5 basis points to 1.534 percent.

The ten-year yield moved higher for the sixth consecutive session, ending the day at a three-month closing high.

Treasuries extended the downward move seen since the Federal Reserve signaled plans to begin scaling back its asset purchases in the near future.

Also contributing to the continued weakness among treasuries, Federal Reserve Chair Jerome Powell warned members of the Senate Banking Committee about upside risks to inflation during testimony this morning.

In prepared remarks, Powell predicted inflation will remain elevated in the coming months before moderating.

"As the economy continues to reopen and spending rebounds, we are seeing upward pressure on prices, particularly due to supply bottlenecks in some sectors," Powell said.

He added, "These effects have been larger and longer lasting than anticipated, but they will abate, and as they do, inflation is expected to drop back toward our longer-run 2 percent goal."

Powell warned supply bottlenecks, hiring difficulties, and other constraints could prove to be greater and more enduring as the economic reopening continues, posing upside risks to inflation.

"If sustained higher inflation were to become a serious concern, we would certainly respond and use our tools to ensure that inflation runs at levels that are consistent with our goal," the Fed chief said.

Meanwhile, the Conference Board released a report unexpectedly showing a continued deterioration in U.S. consumer confidence in the month of September.

The Conference Board said its consumer confidence index tumbled to 109.3 in September from an upwardly revised 115.2 in August.

The decrease surprised economists, who had expected the index to inch up to 114.8 from the 113.8 originally reported for the previous month.

The Treasury Department also revealed that this month's auction of $62 billion worth of seven-year notes attracted modestly below average demand.

A report on pending home sales may attract attention on Wednesday along with more remarks by Fed officials, including Powell.

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

source http://www.mt5.com/forex_news/quickview/2183271/

Oil Futures Snap 5-day Winning Streak, Settle Marginally Down

Crude oil futures ended lower on Tuesday, snapping a five-day winning streak, as a sell-off in stock markets, and a stronger dollar weighed on the commodity.

Oil prices moved higher early on in the session with tighter supplies and optimism about energy demand.

The yield on U.S. 10-year Treasury note rose to above 1.5%, a three-month high, amid rising prospects of the Fed tapering its bond-buying program in the foreseeable future.

The dollar index rose to 93.81, gaining nearly 0.5%.

West Texas Intermediate Crude oil futures for November ended lower by $0.16 or about 0.2% at $75.29 a barrel, coming off a high of $76.67 a barrel.

Brent crude futures were down $0.72 or 0.9% at $78.00 a barrel a little while ago.

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 will release its inventory data Wednesday morning.

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

source http://www.mt5.com/forex_news/quickview/2183270/

Gold Futures Settle Lower As Dollar, Treasury Yields Rise

Gold prices drifted lower on Tuesday and the most active gold futures contracts fell to a seven-week low, as a strong dollar and rising Treasury yields weighed on the safe-haven metal.

The yield on U.S. 10-year Treasury note rose to above 1.5%, a three-month high, amid rising prospects of the Fed tapering its bond-buying program in the foreseeable future.

The dollar index rose to 93.81, gaining nearly 0.5%.

Gold futures for December ended down by $14.50 or about 0.8% at $1,737.50 an ounce, the lowest settlement since August 10.

Silver futures for December ended lower by $0.227 at $22.467 an ounce, while Copper futures for December settled at $4.2465 per pound, down $0.0430 from the previous session.

Federal Reserve Chair Jerome Powell warned members of the Senate Banking Committee about upside risks to inflation during testimony this morning.

In prepared remarks, Powell predicted inflation will remain elevated in the coming months before moderating.

"As the economy continues to reopen and spending rebounds, we are seeing upward pressure on prices, particularly due to supply bottlenecks in some sectors," Powell said.

"If sustained higher inflation were to become a serious concern, we would certainly respond and use our tools to ensure that inflation runs at levels that are consistent with our goal," the Fed chief added.

Meanwhile, a report released by the Conference Board showed a continued deterioration in U.S. consumer confidence in the month of September.

The Conference Board said its consumer confidence index tumbled to 109.3 in September from an upwardly revised 115.2 in August.

The decrease surprised economists, who had expected the index to inch up to 114.8 from the 113.8 originally reported for the previous month.

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

source http://www.mt5.com/forex_news/quickview/2183269/

AUD/USD Losses Moderate With Treasury Yields. Japanese Election in Focus for APAC

The Australian Dollar moved lower versus the US Dollar overnight as gaining yields and higher interest rate bets pushed traders out of risk assets. The Japanese party leader election is in focus to... Via DailyFX - Market News https://ift.tt/32vveVH

China Industrial Profits Growth Slows In August

China's industrial profits continued to grow at a slower pace as higher input prices as well as shortage of materials lifted production cost, the National Bureau of Statistics reportedly said Tuesday.

Industrial profits increased 10.1 percent year-on-year in August, following an annual growth of 16.4 percent in July.

During January to August period, industrial profits advanced 49.5 percent from the same period last year.

The sustained and stable recovery of corporate profits is facing many challenges, Zhu Hong, an economist at the NBS said.

The economist cited regional outbreak of virus, high commodity prices, elevated international logistics cost and the shortages of chips as reasons for higher corporate cost.

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

source http://www.mt5.com/forex_news/quickview/2183216/

*China Aug Industrial Profits Up 10.1% On Year Vs. 16.4% In July

China Aug Industrial Profits Up 10.1% On Year Vs. 16.4% In July

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

source http://www.mt5.com/forex_news/quickview/2183215/

*Australia Aug Retail Sales Fall 1.7% On Month Vs. -2.7% In Jul, Consensus -2.5%

Australia Aug Retail Sales Fall 1.7% On Month Vs. -2.7% In Jul, Consensus -2.5%

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

source http://www.mt5.com/forex_news/quickview/2183214/

European Economics Preview: German Consumer Confidence Data Due

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

At 2.00 am ET, Germany's market research group GfK is scheduled to issue consumer sentiment survey results. The forward-looking index is seen falling to -1.6 in October from -1.2 in September.

At 2.45 am ET, France's Insee publishes consumer sentiment survey results for September. The index is seen at 100 versus 99 in August.

At 3.00 am ET, unemployment data is due from Hungary.

Half an hour later, Statistics Sweden releases retail sales and foreign trade data for August.

At 8.00 AM ET, European Central Bank President Christine Lagarde is set to speak at ECB Forum on Central Banking "Beyond the pandemic: the future of monetary policy."

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

source http://www.mt5.com/forex_news/quickview/2183213/

*Dutch Sept Business Confidence 11.1 Vs. 9.6 In August

Dutch Sept Business Confidence 11.1 Vs. 9.6 In August

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

source http://www.mt5.com/forex_news/quickview/2183212/

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

*Malaysia August Imports Up 12.5% On Year, Consensus +24.5%

Malaysia August Imports Up 12.5% On Year, Consensus +24.5%

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

source http://www.mt5.com/forex_news/quickview/2183210/

*Malaysia Aug Trade Surplus MYR 21.4 Billion, Consensus MYR 11.8 Billion

Malaysia Aug Trade Surplus MYR 21.4 Billion, Consensus MYR 11.8 Billion

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

source http://www.mt5.com/forex_news/quickview/2183211/

*Malaysia August Exports Up 18.4%% On Year, Consensus +14.6%

Malaysia August Exports Up 18.4%% On Year, Consensus +14.6%

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

source http://www.mt5.com/forex_news/quickview/2183209/

Gold and Silver Price Outlook Bleak: Sellers in Control as US Bond Yields Rally

Gold and Silver are suffering from the ongoing rise in US bond yields with both looking to find the next level of technical support. Via DailyFX - Market News https://ift.tt/32vveVH

Australian Dollar Jumps, Energy and US Yields Skip a Beat. Can AUD/USD Break Higher?

The Australian Dollar grinds higher as commodities roar and yields climb with Fed movements. Will the AUD/USD break new ground? Via DailyFX - Market News https://ift.tt/32vveVH

US Dollar, Japanese Yen May Rise if Fed Policy Destabilizes CLO Market

The US Dollar and Japanese Yen may rise if Fed steps to tightening credit conditions destabilize liquidity-dependent credit instruments. Via DailyFX - Market News https://ift.tt/32vveVH

Crude Oil Outlook: WTI Prices Climb, Supply Constraints Support Higher Prices

WTI crude oil prices continue to rise as prices reclaim key psychological levels. Supply constraints and heightened demand likely support the recent rise. Via DailyFX - Market News https://ift.tt/32vveVH

Gold, Iron Ore Forecast: Rising Yields Weigh on XAU, Iron Ore Languishes

Gold prices face off with rising Treasury yields as jobs data approaches. Meanwhile, iron ore prices caught a small bid on bullish port activity out of China. Via DailyFX - Market News https://ift.tt/32vveVH

Bank Of Japan Minutes On Tap For Tuesday

The Bank of Japan will on Tuesday release the minutes from the monetary policy meeting on July 15 and 16, highlighting a modest day for Asia-Pacific economic activity.

At the meeting, the BoJ decided to keep its monetary stimulus unchanged and unveiled a preliminary outline for the new program to support efforts on climate change.

The bank also lowered its near-term growth outlook citing the impact of the coronavirus pandemic and raised its fiscal 2021 inflation forecast. The board also voted to hold the interest rate at -0.1 percent on current accounts that financial institutions maintain at the central bank.

Australia will provide August figures for retail sales; in July, sales were down 2.7 percent on month.

Hong Kong will release August numbers for imports, exports and trade balance. In July, imports were up 26.1 percent and exports rose an annual 26.9 percent for a trade deficit of HKD34.9 billion.

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

source http://www.mt5.com/forex_news/quickview/2183208/

South Korea Consumer Sentiment Improves In September - BoK

Consumer confidence in South Korea picked up steam in September, the latest survey from the Bank of Korea showed on Tuesday with a Composite Consumer Sentiment Index score of 103.8 - up from 102.5 in August.

Consumer sentiment regarding current living standards and their future outlook were unchanged at 91 and 96, respectively.

Consumer sentiment related to future household income was unchanged at 99, and that concerning future household spending was two points higher than in the previous month, at 109.

Consumer sentiment concerning current domestic economic conditions was one point higher than in the previous month, at 78, and that concerning future domestic economic conditions was four points higher than in the previous month, at 94.

The expected inflation rate for the following year was 2.4 percent.

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

source http://www.mt5.com/forex_news/quickview/2183207/

*South Korea Consumer Confidence Index 103.8 In September Vs. 102.5 In August - BoK

South Korea Consumer Confidence Index 103.8 In September Vs. 102.5 In August - BoK

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

source http://www.mt5.com/forex_news/quickview/2183206/

Dollar Turns In Mixed Performance Against Major Rivals

The U.S. dollar turned in a mixed performance against its major rivals on Monday as traders looked for directional clues.

The yield on long term Treasury Notes rose to 1.47%, as investors awaited speeches from several Fed officials this week for clues on when the central bank could taper its pandemic-era economic support. Jerome Powell is also scheduled to make a speech this week.

New orders for U.S. manufactured durable goods increased by much more than expected in the month of August, according to a report released the Commerce Department on Monday.

The report said durable goods orders jumped by 1.8% in August after rising by a revised 0.5% in July.

Economists had expected durable goods orders to increase by 0.6% compared to the 0.1% dip that had been reported for the previous month.

Excluding a spike in orders for transportation equipment, durable goods orders edged up by 0.2% in August after climbing by 0.8% in July.

The dollar index, which dropped to 93.21 in the Asian session, recovered subsequently and was last seen at 93.41, up nearly 0.1% from the previous close.

Against the Euro, the dollar firmed to 1.1698 from 1.1721.

The Pound Sterling strengthened against the dollar, fetching $1.3698 a unit, up from $1.3676.

The Yen weakened to 111.01, dropping from 110.74 a dollar.

Against the Aussie, the dollar weakened to 0.7286 from 0.7262.

The Swiss franc slid to 0.9259 a dollar from 0.9244, while the Loonie firmed to 1.2629 a dollar from around 1.2650.

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

source http://www.mt5.com/forex_news/quickview/2183205/

Dow Jones Falls, Nasdaq 100 Gains Ahead of the Fed. Nikkei 225 Eyeing the BoJ

The Dow Jones fell as the Nasdaq 100 gained during a fairly quiet session ahead of the FOMC rate decision. Ahead, the Nikkei 225 is eyeing the BoJ monetary policy announcement. Via DailyFX - Market News https://ift.tt/32vveVH

Dow Jones Gains as Nasdaq 100 Sinks, Crude Oil Boosts Energy Stocks. ASX 200 in Focus

The Dow Jones outperformed the Nasdaq 100 as crude oil prices pushed energy stocks higher. The ASX 200 may find some relief as iron ore prices appear to stabilize after persistent losses. Via DailyFX - Market News https://ift.tt/32vveVH

NZD/USD Struggles as RBNZ Hike Bets Dim. Australian Retail Sales, Chinese Data Near

The New Zealand Dollar is struggling to gain strength after traders cut RBNZ rate hike bets this past week. Today offers potential event risk through China's industrial profits and Australia's reta... Via DailyFX - Market News https://ift.tt/32vveVH

Oil Futures Rise Sharply, Settle Higher For 5th Straight Day

Crude oil prices rose sharply on Monday, extending gains to a fifth session, amid tighter supplies and signs of rising demand for oil in several countries across the world.

West Texas Intermediate Crude oil futures for November ended up by $1.47 or about 2% at $75.45 a barrel, after climbing to a high of $75.75 a barrel.

Brent crude futures moved towards the $80 a barrel mark. A little while ago, the contract was quoting at $78.50 a barrel, gaining $1.27 or 1.64%.

Crude oil prices have been moving higher in recent sessions amid concerns about supply as demand picks up in parts of the world thanks to easing of pandemic restrictions.

Recent data showed U.S. oil inventories have dropped by 16% year-on-year, and are nearly 23% lower than the level seen in June 2020.

On the supply front, OPEC and its allies are looking to increase their output gradually. The group is reportedly finding it difficult to raise output as under-investment or maintenance delays persist from the pandemic.

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

source http://www.mt5.com/forex_news/quickview/2183204/

Gold Futures Settle Slightly Higher

Gold futures ended with a slender gain on Monday after a rather sluggish outing as traders largely made cautious moves amid a lack of directional clues.

The dollar stayed mostly positive after emerging from the lows touched in the Asian session, but failed to make significant progress above the flat line. After advancing to 93.49 earlier in the day, the dollar index dropped to 93.33, its previous close.

The yield on long term Treasury Notes rose to 1.47%, as investors awaited speeches from several Fed officials this week for clues on when the central bank could taper its pandemic-era economic support. Jerome Powell is also scheduled to make a speech this week.

Gold futures for December ended with a small gain of $0.30 at $1,752.00 an ounce, after dropping to a low of $1,744.70 earlier in the day.

Silver futures for December ended higher by $0.269 at $22.694 an ounce, while Copper futures for December settled at $4.2895 per pound, gaining $0.0040.

Traders, digesting the results of the Federal Election in Germany, also continued to keep an eye on developments surrounding debt-laden China Evergrande, after the property giant missed a bond payment deadline last week.

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

source http://www.mt5.com/forex_news/quickview/2183203/

Breaking News: US Durable Goods Orders Beat Estimates, DXY Remains Elevated

US durable goods orders drastically outperformed expectations of 0.7%, printing at 1.8%. We take a look at the immediate DXY reaction Via DailyFX - Market News https://ift.tt/32vveVH

Finland Consumer Sentiment Improves, Industrial Confidence

Finland's consumer confidence improved and industrial morale weakened in September, separate survey results showed on Monday.

The consumer sentiment index increased to 6.0 in September from 4.0 in August, Statistics Finland said.

All the four components improved strongly in September. Consumers' views of their own economy at present were brightest in the survey history.

The data was collected from 1,015 persons between September 1 and 19.

Data from the Confederation of Finnish Industries showed that the manufacturing confidence index fell one points to 21 in September from 22 in August. The reading was above the long-term average of +1.

The construction confidence indicator increased to 7 in September from 5 in August. The reading was weaker than its long-term average of -7.

The service sector confidence indicator remained unchanged at 15 in September.

The retail trade confidence grew four points to 13 in September, which was above the long-term average of -1.

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

source http://www.mt5.com/forex_news/quickview/2183174/

*Spain Aug Producer Prices Rise 1.9% On Month Vs. 2% In July

Spain Aug Producer Prices Rise 1.9% On Month Vs. 2% In July

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

source http://www.mt5.com/forex_news/quickview/2183173/

*Spain Aug Producer Prices Up 18% On Year Vs. 15.6% In July

Spain Aug Producer Prices Up 18% On Year Vs. 15.6% In July

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

source http://www.mt5.com/forex_news/quickview/2183172/

*BoJ Chief: Even Though Inflation Rise Gradually Towards FY 2023, It Is Unlikely To Reach 2% Target

BoJ Chief: Even Though Inflation Rise Gradually Towards FY 2023, It Is Unlikely To Reach 2% Target

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

source http://www.mt5.com/forex_news/quickview/2183171/

*Denmark Aug Retail Sales -0.4% On Month Vs. -0.1% In July

Denmark Aug Retail Sales -0.4% On Month Vs. -0.1% In July

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

source http://www.mt5.com/forex_news/quickview/2183170/

European Economics Preview: Eurozone Monetary Aggregates Data Due

Monetary aggregates data from the euro area is due on Monday, headlining a light day for the European economic news.

At 2.00 am ET, Statistics Denmark is scheduled to issue retail sales data for August. Sales had increased 4.8 percent annually in July.

At 3.30 am ET, Sweden's household lending data is due for August. Lending had advanced 6.3 percent annually in July.

At 4.00 am ET, the European Central Bank is slated to issue monetary aggregates for August. The euro area M3 money supply is forecast to climb 7.8 percent on year after rising 7.6 percent in July.

In the meantime, Italy's non-EU trade data is due for August. The trade surplus totaled EUR 6.85 billion in July.

At 7.45 am ET, European Central Bank President Christine Lagarde is scheduled to attend the hearing before the committee on Economic and Monetary Affairs of the European Parliament.

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

source http://www.mt5.com/forex_news/quickview/2183169/

Gold Price Forecast: Fed Speakers in Focus For Taper Timeline Clues, XAU/USD Weaker

XAU/USD is struggling to attract buying momentum as yields continue to pick up Via DailyFX - Market News https://ift.tt/32vveVH

Introduction to Basic Trendline Analysis

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

*Finland Sept Manufacturing Confidence 21.0 Vs. Vs. 22.0 In August

Finland Sept Manufacturing Confidence 21.0 Vs. Vs. 22.0 In August

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

source http://www.mt5.com/forex_news/quickview/2183168/

*Japan Jul Lagging Index 95.3 Vs. 94.2 In June

Japan Jul Lagging Index 95.3 Vs. 94.2 In June

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

source http://www.mt5.com/forex_news/quickview/2183167/

*Japan Jul Coincident Index 94.4 Vs. 94.6 In June

Japan Jul Coincident Index 94.4 Vs. 94.6 In June

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

source http://www.mt5.com/forex_news/quickview/2183166/

*Japan Jul Leading Index 104.1 Vs. 104.2 In June

Japan Jul Leading Index 104.1 Vs. 104.2 In June

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

source http://www.mt5.com/forex_news/quickview/2183165/

*Finland Sept Consumer Confidence 6.0 Vs. 4.0 In August

Finland Sept Consumer Confidence 6.0 Vs. 4.0 In August

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

source http://www.mt5.com/forex_news/quickview/2183164/

German Election Latest: EUR/USD Muted Following Election Results

German Election Results Show Win for SPD. Traffic Light Coalition Most Likely Outcome. Via DailyFX - Market News https://ift.tt/32vveVH

*Japan Aug Corporate Services Price Index Up 1% On Year Vs. 1.1% In July

Japan Aug Corporate Services Price Index Up 1% On Year Vs. 1.1% In July

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

source http://www.mt5.com/forex_news/quickview/2183163/

British Pound (GBP) Forecast: GBP/USD Weighing Up Different Fundamental Drivers

The British Pound is under pressure from domestic problems as fuel shortages continue, hampering UK growth prospects. Via DailyFX - Market News https://ift.tt/32vveVH

Norwegian Krone Jumps as Euro Awaits German Election Results. Will Energy Continue to Surge?

The Norwegian Krone led commodity FX gains amid higher oil prices while an undecided German election left the Euro adrift. Will energy prices continue building? Via DailyFX - Market News https://ift.tt/32vveVH

Crude Oil Prices Hit 2-Month High on Supply Squeeze, 2021 Top Eyed

Crude oil prices rose to the highest in two months amid a supply squeeze. Will buyers push to revisit the high for the year near $77/barrel? Via DailyFX - Market News https://ift.tt/32vveVH

Japan Leading Economic Index On Tap For Monday

Japan will on Monday release final July figures for its leading and coincident indexes, highlighting a light day for Asia-Pacific economic activity. In June, the leading index had a score of 104.6 and the coincident was at 94.6.

Taiwan will provide August numbers for retail sales and industrial production; in July, sales were down 10.3 percent on year and output jumped an annual 13.93 percent.

China will release August data for industrial profits; in July, profits had skyrocketed 57.3 percent on year.

The Philippines will see Q3 figures for its consumer confidence index; in the three months prior, the index score was -45.

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

source http://www.mt5.com/forex_news/quickview/2183162/

How to Trade the Impact of Politics on Global Financial Markets

In a slowing global economy, the threat of geopolitical risks destabilizing global growth are elevated and open the door to violent volatility – and trading opportunities. Via DailyFX - Market News https://ift.tt/32vveVH

Australian Dollar Forecast: AUD/USD Action May Swing on Chinese Industrial Profits

The Australian Dollar faces a tough ride higher after Treasury yields surged last week. Monday's APAC session will put focus on Chinese industrial profits. A bright figure may help AUD/USD. Via DailyFX - Market News https://ift.tt/32vveVH

Markets Week Ahead: Dow Jones, USD/JPY, BTC/USD, China Crypto Crackdown, Evergrande

The Dow Jones rose as investors brushed aside Evergrande woes for the Fed's outlook. China's crackdown on cryptocurrencies sent Bitcoin falling. Treasury yields are back on the rise, sending USD/JP...

Markets Week Ahead: Dow Jones, USD/JPY, BTC/USD, China Crypto Crackdown, Evergrande

The Dow Jones rose as investors brushed aside Evergrande woes for the Fed's outlook. China's crackdown on cryptocurrencies sent Bitcoin falling. Treasury yields are back on the rise, sending USD/JP... Via DailyFX - Market News https://ift.tt/32vveVH

S&P 500 & FTSE 100 Forecasts for the Week Ahead

Short-term uncertainties to keep the pressure on equity markets.

S&P 500 & FTSE 100 Forecasts for the Week Ahead

Short-term uncertainties to keep the pressure on equity markets. Via DailyFX - Market News https://ift.tt/32vveVH

Crude Oil May Rise as Covid Case Growth Slows. WTI Eyes OPEC Outlook, Evergrande

Crude oil prices may rise as global Covid case growth continues to slow, raising demand expectations. Eyes are on OPEC’s annual world oil outlook report. China’s Evergrande situation remains fluid.

Crude Oil May Rise as Covid Case Growth Slows. WTI Eyes OPEC Outlook, Evergrande

Crude oil prices may rise as global Covid case growth continues to slow, raising demand expectations. Eyes are on OPEC’s annual world oil outlook report. China’s Evergrande situation remains fluid. Via DailyFX - Market News https://ift.tt/32vveVH

Euro Forecast: Limited EUR/USD Bounce Could Follow German Election Results

The results of this weekend’s German Federal Election will likely dominate Euro sentiment at the start of the week ahead but after a possible EUR/USD bounce they will have little long-term impact.

Euro Forecast: Limited EUR/USD Bounce Could Follow German Election Results

The results of this weekend’s German Federal Election will likely dominate Euro sentiment at the start of the week ahead but after a possible EUR/USD bounce they will have little long-term impact. Via DailyFX - Market News https://ift.tt/32vveVH

Gold Fundamental Forecast: XAU Eyes PCE After US Dollar, Treasury Yields Weigh on Price

Gold prices fell after a hawkish FOMC statement sent yields higher into the weekend, hurting the non-interest-bearing asset. PCE figures are in focus for gold traders this week.

Gold Fundamental Forecast: XAU Eyes PCE After US Dollar, Treasury Yields Weigh on Price

Gold prices fell after a hawkish FOMC statement sent yields higher into the weekend, hurting the non-interest-bearing asset. PCE figures are in focus for gold traders this week. Via DailyFX - Market News https://ift.tt/32vveVH

US Dollar Post-FOMC Performance Hinges on Slew of US Data

The update to the US Consumer Price Index (CPI) is likely to sway the US Dollar during the Federal Reserve’s blackout period as the central bank braces for a transitory rise in inflation.

US Dollar Post-FOMC Performance Hinges on Slew of US Data

The update to the US Consumer Price Index (CPI) is likely to sway the US Dollar during the Federal Reserve’s blackout period as the central bank braces for a transitory rise in inflation. Via DailyFX - Market News https://ift.tt/32vveVH

Cryptocurrencies Slammed by China Ban, Twitter (TWTR) Allows Bitcoin (BTC) Tipping

Bitcoin (BTC) started the day on the front foot on the Twitter news before the latest China crypto ban hammered the market lower.

Cryptocurrencies Slammed by China Ban, Twitter (TWTR) Allows Bitcoin (BTC) Tipping

Bitcoin (BTC) started the day on the front foot on the Twitter news before the latest China crypto ban hammered the market lower. Via DailyFX - Market News https://ift.tt/32vveVH

Treasuries Extend Steep Drop Seen Since Fed Announcement

Treasuries moved to the downside during trading on Friday, extending the pullback seen since the Federal Reserve's monetary policy announcement on Wednesday.

Bond prices remained firmly negative throughout most of the session after an early downward move. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, rose by 5 basis points to 1.460 percent.

The ten-year yield has moved sharply higher since the Fed announcement and ended the session at its highest closing level since early July.

Indications the Fed plans to begin scaling back its bond purchases in the near future continued to weigh on treasuries.

The Fed said Wednesday that a "moderation in the pace of asset purchases may soon be warranted" if progress towards it goals of maximum employment and price stability continues broadly as expected.

During his post-meeting press conference, Fed Chair Jerome Powell indicated the central bank could begin tapering its asset purchases as soon as its next meeting in early November.

"While no decisions were made, participants generally viewed that so long as the recovery remains on track, a gradual tapering process that concludes around the middle of next year is likely to be appropriate," Powell said.

Powell said substantial further progress has been achieved with regard to the Fed's inflation goal, while "the test for substantial further progress on employment is all but met."

The Fed's latest projections also indicated an interest rate hike could come sooner than previously expected, although officials still seemed divided on the timing.

Next week's trading may be impacted by reaction to reports on durable goods orders, consumer confidence, personal income and spending and manufacturing activity.

Bond traders are also likely to keep an eye on the results of the Treasury Department's auctions of two-year, five-year, and seven-year notes.

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source http://www.mt5.com/forex_news/quickview/2183161/

Oil Futures Settle Notably Higher For The Session, Gain 2.8% In Week

Crude oil prices climbed higher on Friday and front-month WTI oil futures contracts recorded gains for a fifth straight week, amid tighter supplies.

Recent data showing a drop in U.S. crude inventories, and output disruptions in the Gulf of Mexico due to the impact of two hurricanes supported oil prices.

The public auction of state crude reserves by China limited oil's uptick. According to reports, PetroChina and Hengli Petrochemical bought four cargoes totaling about 4.43 million barrels in the auction.

West Texas Intermediate Crude oil futures for November ended higher by $0.68 or about 0.9% at 73.98 a barrel.

WTI Crude futures gained about 2.8% this week.

Brent crude futures posted a third straight weekly gain. The contract was up $0.72 or 0.93% at $77.97 a barrel a little while ago.

A few members of the Organization of the Petroleum Exporting Countries and their allies, collective known as OPEC+, are reportedly finding it tough to increase output due to the pandemic and a lack of funds.

According to the data released by Baker Hughes, the number of active U.S. rigs drilling for oil climbed by 10 to 421 this week. The total active U.S. rig count, including those drilling for natural gas, climbed by 9 to 521, the data said.

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

source http://www.mt5.com/forex_news/quickview/2183160/

Gold Futures Settle Slightly Higher

Gold futures settled higher on Friday as concerns about the possible impact of Chinese real estate major Evergrande's debt woes on the global financial market triggered some interest in the safe-haven yellow metal.

A weak dollar too contributed to gold's uptick. The dollar index which was hovering around 93.10 in the Asian session, recovered subsequently, and was last seen at 93.30, down 0.17% from Thursday's close.

Gold futures for December ended with a gain of $1.90 or about 0.1% at $1,751.70 an ounce. Gold futures gained a slender $0.30 in the week.

Silver futures for December ended lower by $0.254 at $22.425 an ounce, while Copper futures for December settled at $4.2855 per pound, up $0.0545 from the previous close.

The Federal Reserve said while releasing its monetary policy on Wednesday that it would likely start tapering its bond-buying program before the end of this year.

The Fed also hinted at hiking interst rate in 2022, and signaled a series of hikes over the next two years as well.

On Thursday, the Bank of England left its key policy rates and QE unchanged, but opined that the recent price developments appeared to have strengthened the case for a modest tightening of monetary policy.

In economic news today, a report released by the Commerce Department showed new home sales unexpectedly jumped by 1.5% to an annual rate or 740,000 in August after spiking by 6.4% to an upwardly revised rate of 729,000 in July.

Economists had expected new home sales to slump by 1.1% to a rate of 700,000 from the 708,000 originally reported for the previous month.

With the unexpected increase, new home sales continued to recover after tumbling to their lowest level in over a year in June.

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

source http://www.mt5.com/forex_news/quickview/2183159/

*Finland Aug Producer Prices +1.4% On Month Vs. +3.4% In July

Finland Aug Producer Prices +1.4% On Month Vs. +3.4% In July

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

source http://www.mt5.com/forex_news/quickview/2183120/

*UK Sep GfK Consumer Confidence -13 Vs. -8 In August

UK Sep GfK Consumer Confidence -13 Vs. -8 In August

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

source http://www.mt5.com/forex_news/quickview/2183118/

*Japan Sep Flash Composite PMI 47.7 Vs. 45.5 In August

Japan Sep Flash Composite PMI 47.7 Vs. 45.5 In August

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

source http://www.mt5.com/forex_news/quickview/2183117/

*Malaysia Aug Inflation 2.0% Vs. 2.2% In Jul, Consensus 2.2%

Malaysia Aug Inflation 2.0% Vs. 2.2% In Jul, Consensus 2.2%

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

source http://www.mt5.com/forex_news/quickview/2183116/

European Economics Preview: Germany Ifo Business Confidence Data Due

Business confidence data from Germany is due on Friday, headlining a light day for the European economic news.

At 3.00 am ET, manufacturing confidence survey results are due from Turkey.

Half an hour later, Statistics Sweden publishes producer prices and household lending data.

At 4.00 am ET, Germany's ifo business confidence survey results are due. The business confidence index is forecast to fall to 98.9 in September from 99.4 in August.

In the meantime, Italy's business and consumer confidence survey data is due.

At 6.00 am ET, the Confederation of British Industry is slated to issue Distributive Trades survey data for September. The retail sales balance is seen falling to 35 percent in September from 60 percent in August.

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

source http://www.mt5.com/forex_news/quickview/2183115/

GBP/USD Flattens After BOE-Induced Rally

A hawkish tone from the Bank of England boosts the Pound as the Dollar tries to catch up to yields Via DailyFX - Market News https://ift.tt/32vveVH

US Dollar Outlook Bullish on Future US-China Tension

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Japan Overall Inflation Sinks 0.4% On Year In August

Overall inflation in Japan was down 0.4 percent on year in August, the Ministry of Communications and Internal Affairs said on Friday - shy of expectations for -0.3 percent, which would have been unchanged from the July reading.

Core consumer prices, which exclude volatile food costs, was unchanged on year. That matched forecasts following the 0.2 percent annual decline in the previous month.

On a seasonally adjusted monthly basis, overall inflation was down 0.2 percent and core CPI eased 0.1 percent.

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source http://www.mt5.com/forex_news/quickview/2183114/

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*Japan Consumer Prices -0.4% On Year In August; Core CPI Flat On Year

Japan Consumer Prices -0.4% On Year In August; Core CPI Flat On Year

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

source http://www.mt5.com/forex_news/quickview/2183113/

New Zealand Has NZ$2.144 Billion Trade Shortfall In August

New Zealand posted a record monthly merchandise trade deficit of NZ$2.144 billion in August, Statistics New Zealand said on Friday.

That follows the upwardly revised NZ$397 million shortfall in July (originally -NZ$402 million).

Imports were worth NZ$6.49 billion following the upwardly revised NZ$6.17 billion in the previous month (originally MZ$6.16 billion).

Exports came in at NZ$4.35 billion, down sharply from the upwardly revised NZ$5.77 billion a month earlier (originally NZ$5.75 billion).

The annual goods trade balance was a deficit of NZ$2.9 billion.

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

source http://www.mt5.com/forex_news/quickview/2183112/

*New Zealand Trade Deficit NZ$2.144 Billion In August

New Zealand Trade Deficit NZ$2.144 Billion In August

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

source http://www.mt5.com/forex_news/quickview/2183111/

*New Zealand Imports NZ$6.49 Billion, Exports NZ$4.35 Billion In August

New Zealand Imports NZ$6.49 Billion, Exports NZ$4.35 Billion In August

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source http://www.mt5.com/forex_news/quickview/2183110/

Australian Dollar Eyes Evergrande as USD Bondholders Still Await Interest Payments

The Australian Dollar marked time after reports crossed the wires that Evergrande USD bondholders had yet to receive interest payments ahead of a key deadline. What are key AUD/USD levels to watch? Via DailyFX - Market News https://ift.tt/32vveVH

Japan Inflation Data Due On Friday

Japan will on Friday release August figures for consumer prices, highlighting a busy day for Asia-Pacific economic activity. In July, overall inflation was up 0.2 percent on month and down 0.3 percent on year, while core CPI slipped an annual 0.2 percent.

Japan also will see flash September data for the manufacturing, services and composite PMIs from Jibun Bank; in August, their scores were 52.7, 42.9 and 45.5, respectively.

New Zealand will provide August numbers for imports, exports and trade balance. In July, imports were worth NZ$6.16 billion and exports were at NZ$5.75 billion for a trade deficit of NZ$402 million.

Singapore will see August numbers for industrial production, with forecasts suggesting an increase of 3.1 percent on month and 8.8 percent on year. That follows the 2.6 percent monthly decline and the 16.3 percent yearly gain in July.

Taiwan will provide August data for export orders, with forecasts suggesting an increase of 20.7 percent on year - down from 21.4 percent in July.

Thailand will release August figures for imports, exports and trade balance. Imports are expected to surge 40.35 percent on year, slowing from 45.95 percent in July. Exports are called higher by an annual 13.5 percent, down from 20.27 percent in the previous month. The trade surplus is pegged at $0.97 billion, up from $0.18 billion a month earlier.

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

source http://www.mt5.com/forex_news/quickview/2183109/

South Korea Producer Prices Rise 0.4% In August

Producer prices in South Korea were up 0.4 percent on month in August, the Bank of Korea said on Friday.

That's down from the upwardly revised 1.0 percent increase in July (originally 0.7 percent).

On a yearly basis, producer prices jumped 7.3 percent - slowing from the upwardly revised 7.4 percent spike in the previous month (originally 7.1 percent).

Among the individual components, agricultural, forestry and marine products were up 0.7 percent on month and 2.8 percent on year; manufacturing products rose 0.4 percent on month and 12.6 percent on year; utilities improved 1.1 percent on month and 1.4 percent on year; and services gained 0.3 percent on month and 2.9 percent on year.

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

source http://www.mt5.com/forex_news/quickview/2183108/

Dollar Loses Ground Against Major Rivals

The U.S. dollar drifted lower against its major counterparts on Thursday as risk sentiment improved with markets reacting positively to the Federal Reserve's announcement that the QE tapering could start soon given progress towards the central bank's goals.

Unveiling its latest monetary policy on Wednesday, the Fed indicated that tapering will happen soon, but didn't give any specific timing.

The Fed said "a moderation in the pace of asset purchases may soon be warranted" and signaled an earlier rate hike after its conclusion.

Meanwhile, the People's Bank of China's infusion of massive capital into the country's banking system has eased concerns about a potential default by Evegrande.

In economic news today, a report from the Labor Department showed first-time claims for U.S. unemployment benefits unexpectedly increased for the second straight week in the week ended September 18th.

The Labor Department said initial jobless claims rose to 351,000, an increase of 16,000 from the previous week's revised level of 335,000.

With the uptick, jobless claims climbed further off the pandemic-era low of 312,000 set in the week ended September 4th.

Economists had expected jobless claims to dip to 320,000 from the 332,000 originally reported for the previous week.

The dollar index, which dropped to 92.98, recovered some lost ground subsequently and is currently at 93.13, as against its previous close of 93.46.

Against the Euro, the dollar weakened to 1.1741 from 1.1689. Eurozone's IHS Markit flash PMI releases for September said Manufacturing PMI slipped to 58.7 from 61.4 in the prior month, Services PMI decreased to 56.3 from 59 in August and Composite PMI dropped to 56.1 from 59.0 in August.

The Pound Sterling strengthened to $1.3719, gaining from $1.3618. The Bank of England today left rates steady at 0.1% and Quantitative Easing steady at 895 billion pounds. The BoE opined that the recent price developments appeared to have strengthened the case for a modest tightening of monetary policy.

The Yen weakened to 110.34 a dollar, drifting down from 109.81.

Against the Aussie, the dollar weakened to 0.7295 from 0.7247.

The Swiss franc firmed to 0.9246 a dollar from 0.9263. Policymakers of Swiss National Bank decided to retain the policy rate and interest on sight deposits at the SNB at -0.75%.

The Swiss central bank reiterated that it is willing to intervene in the foreign exchange market as necessary, in order to counter upward pressure on the Swiss franc. The bank repeated that the Swiss franc remains highly valued.

The Loonie gained nearly 1% against the dollar, strengthening to 1.2657 from 1.2773. Data released by Statistics Canada this morning showed retail Sales in Canada declined unexpectedly in July. The data said retail sales contracted by 0.6% on a monthly basis in July. This reading followed June's increase of 4.2% and came in slightly better than the market expectation for a decrease of 1.2%.

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

source http://www.mt5.com/forex_news/quickview/2183107/

*South Korea Producer Prices +0.4% On Month, +7.3% On Year In August

South Korea Producer Prices +0.4% On Month, +7.3% On Year In August

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

source http://www.mt5.com/forex_news/quickview/2183106/

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

Treasuries Move Notably Lower As Traders Digest Fed Announcement

Following the modest pullback seen in the previous session, treasuries showed a notable move to the downside during trading on Thursday.

Bond prices moved steadily lower in morning trading and remained firmly negative throughout the afternoon. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, climbed 7.6 basis points to 1.410 percent.

With the advance on the day, the ten-year yield ended the session at its highest closing level in over two months.

The weakness among treasuries came as traders continued to digest the Federal Reserve's monetary policy announcement on Wednesday, when the central bank signaled tapering asset purchases could be coming "soon."

The Fed said that a "moderation in the pace of asset purchases may soon be warranted" if progress towards it goals of maximum employment and price stability continues broadly as expected.

During his post-meeting press conference, Fed Chair Jerome Powell indicated the central bank could begin tapering its asset purchases as soon as its next meeting in early November.

"While no decisions were made, participants generally viewed that so long as the recovery remains on track, a gradual tapering process that concludes around the middle of next year is likely to be appropriate," Powell said.

Powell said substantial further progress has been achieved with regard to the Fed's inflation goal, while "the test for substantial further progress on employment is all but met."

The Fed's latest projections also indicated an interest rate hike could come sooner than previously expected, although officials still seemed divided on the timing.

Meanwhile, traders largely shrugged off a report from the Labor Department showing first-time claims for U.S. unemployment benefits unexpectedly increased for the second straight week in the week ended September 18th.

A report on new home sales in the month of August may attract attention on Friday along with remarks by Powell and several other Fed officials.

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

source http://www.mt5.com/forex_news/quickview/2183105/

Crude Oil Futures Settle Notably Higher

Crude oil futures settled higher on Thursday amid prospects for a surge in energy demand, and tighter supplies amid the slow recovery in restoration of output in the Gulf of Mexico following the disruptions caused by recent hurricanes.

Recent data showing a drop in U.S. crude stockpiles in the week ended September 17 continued to support oil prices.

West Texas Intermediate Crude oil futures for November ended up by $1.07 or about 1.5% at $73.30 a barrel, the lowest settlement in about two months. Oil prices had dropped to $71.61 a barrel earlier in the session.

Brent crude futures were up $0.97 or 1.27% at $77.16 a barrel a little while ago.

Data from Energy Information Administration (EIA) showed crude stockpiles dropped by 3.481 million barrels to 414 million barrels last week, the lowest level since October 2018.

Gasoline stockpiles rose by 3.47 million barrels, more than 2.5 times the expected increase, while distillate stockpiles dropped by 2.55 million barrels, more than twice the expected drop.

The EIA also said that oil facilities in the Gulf of Mexico continue to return to production, and weekly output rose by 500,000 barrels per day in the most recent week.

The OPEC and allies, collectively known as OPEC+ will meet on October 4. Iraq's oil minister said on Wednesday that the group was working to keep crude prices close to $70 per barrel amid a recovery in global economy.

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source http://www.mt5.com/forex_news/quickview/2183104/

AUD/USD, AUD/JPY Surge Despite Rising Treasury Yields, Looming Evergrande Risks

The Australian Dollar gained as traders bid up stocks on Wall Street. Evergrande woes are being brushed aside despite reports that Beijing asked localities to prepare for its downfall. Via DailyFX - Market News https://ift.tt/32vveVH

Gold Futures Settle Sharply Lower

Gold prices drifted lower on Thursday, dragging the most active gold futures contract to their lowest settlement in over six weeks.

An imminent start to tapering of the Fed's bond-buying program later this year, and rising prospects of a series of interest rate hikes in 2022 and 2023 weighed on gold prices.

The rally in global stock markets amid improved risk sentiment contributed as well to the weak demand for the safe-haven yellow metal.

Concerns about the impact of a potential default by Chinese realty major Evergrande eased after the Chinese central bank infused 120 billion yuan into the banking system through reverse repurchase agreements, resulting in a net injection of 90 billion yuan.

Gold futures settled weak despite a weak dollar. The dollar index dropped to 92.98 this afternoon, losing about 0.5%.

Gold futures for December ended down $29.00 or about 1.6% at $1,749.80 an ounce.

Silver futures for December ended lower by $0.228 at $22.679 an ounce, while Copper futures for December settled at $4.2310 per pound, down $0.0210 from the previous close.

The Fed said in the announcement of its latest monetary policy decision that a "moderation in the pace of asset purchases may soon be warranted" if progress towards its dual goals continues broadly as expected.

The central bank currently plans to continue its bond purchases at a rate of at least $120 billion per month but is expected to begin scaling back later this year.

During his post-meeting press conference, Fed Chair Jerome Powell indicated the central bank could begin tapering its asset purchases as soon as its next meeting in early November.

A report released by the Labor Department this morning showed first-time claims for U.S. unemployment benefits unexpectedly increased for the second straight week in the week ended September 18th.

The Labor Department said initial jobless claims rose to 351,000, an increase of 16,000 from the previous week's revised level of 335,000.

With the uptick, jobless claims climbed further off the pandemic-era low of 312,000 set in the week ended September 4th.

Economists had expected jobless claims to dip to 320,000 from the 332,000 originally reported for the previous month.

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

source http://www.mt5.com/forex_news/quickview/2183103/

EU Breaking News: DAX, EUR/USD Shrug Off Missed German and EU PMI’s

The Euro along with European equities have flouted missed PMI data as the DAX marches higher while EUR/USD tests key horizontal levels. Via DailyFX - Market News https://ift.tt/32vveVH

FTSE 100 Price Outlook: Bank of England to Leave Advance in UK Stocks Intact

The Bank of England MPC will not want to rock the boat in the UK financial markets. If the FTSE and GBP are stable after its monetary policy meeting it will pat itself on the back. Via DailyFX - Market News https://ift.tt/32vveVH

Brazil Central Bank Lifts Key Rate By 100 Bps; Signals Another Hike Next Month

Brazil's central bank raised its key interest rates by 100 basis points on Wednesday and signaled another hike of the same magnitude at the next meeting to bring inflation down to the target.

The monetary policy committee, known as Copom, unanimously decided to increase the Selic rate by 100 basis points to 6.25 percent from 5.25 percent.

The bank has raised its rate by a massive 425 basis points so far this year.

Policymakers observed that, at the current stage of the tightening cycle, this pace is the most appropriate to guarantee inflation convergence to the target and allow the committee to gain more information regarding the state of the economy.

"For the next meeting, the Committee foresees another adjustment of the same magnitude," the bank said in a statement.

"The Copom emphasized that its future policy steps could be adjusted to ensure the achievement of the inflation target and will depend on the evolution of economic activity, on the balance of risks, and on inflation expectations and projections for the relevant horizon for monetary policy," the bank said.

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source http://www.mt5.com/forex_news/quickview/2183029/

European Economics Preview: BoE, SNB Policy Announcements Due

Monetary policy announcements from the Bank of England and the Swiss National Bank are due on Thursday, headlining a hectic day for the European economic news. At 2.45 am ET, the French statistical office Insee releases business confidence survey results. The business sentiment index is forecast to fall marginally to 109 in September from 110 in August.

At 3.00 am ET, Spain's INE publishes final GDP data for the second quarter. The statistical office is set to confirm 2.8 percent sequential growth for the second quarter.

At 3.15 am ET, IHS Markit releases France flash composite Purchasing Managers' survey results. The flash composite output index is forecast to drop slightly to 55.8 in September from 55.9 in the previous month.

At 3.30 am ET, Swiss National Bank releases its quarterly monetary policy assessment. The bank is expected to retain its policy rate and interest on sight deposits at the SNB at -0.75 percent.

In the meantime, Germany's flash composite PMI data is due. The composite output index is expected to ease to 59.2 in September from 60.0 in August.

At 4.00 am ET, IHS Markit publishes euro area flash composite PMI data. The composite PMI is seen at 58.5 in September versus 59.0 in August.

Also, Norges Bank announces its monetary policy decision at 4.00 am. The bank is forecast to hike its key rate to 0.25 percent from zero percent.

Half an hour later, IHS Markit is scheduled to publish the UK flash composite PMI data. Economists forecast the composite index to fall to 54.5 in September from 54.8 in August.

At 7.00 am ET, the monetary policy announcement is due from the Bank of England. The bank is widely expected to hold its key rate at 0.10 percent and quantitative easing at GBP 875 billion.

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source http://www.mt5.com/forex_news/quickview/2183028/

British Pound Battles US Dollar After FOMC, Before BoE. Will GBP/USD Move Lower?

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How to Trade After a News Release

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Australia Manufacturing PMI Jumps To 57.3 In September - Markit

The manufacturing sector in Australia continued to expand in September, and at a faster pace, the latest survey from Markit Economics revealed on Thursday with a manufacturing PMI score of 57.3.

That's up from 52.0 in August and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

Output and new orders returned to growth after a brief month of contraction in August as manufacturers reported to have better adapted to ongoing COVID-19 conditions. Improved demand meanwhile drove firms to hire staff and acquire inputs at faster rates in September.

That said, supply constraints simultaneously intensified with suppliers' delivery times having lengthened at the fastest pace since the April 2020 survey record. Shortages of inputs and delivery delays also led to increased price pressures for manufacturers as input price inflation accelerated to the fastest on record. Overall optimism amongst manufacturers nevertheless sustained in September, with business confidence having risen to the highest since June.

The survey also showed that the services index improved to 44.9 in September from 42.9 in August. The composite index also improved, rising from 43.3 to 46.0.

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

source http://www.mt5.com/forex_news/quickview/2183027/

*Australia Manufacturing PMI 57.3 In September - Markit Economics

Australia Manufacturing PMI 57.3 In September - Markit Economics

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source http://www.mt5.com/forex_news/quickview/2183024/

*Australia Services PMI 44.9 In September - Markit Economics

Australia Services PMI 44.9 In September - Markit Economics

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

source http://www.mt5.com/forex_news/quickview/2183025/

*Australia Composite PMI 46.0 In September - Markit Economics

Australia Composite PMI 46.0 In September - Markit Economics

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

source http://www.mt5.com/forex_news/quickview/2183026/

Australia PMI Data On Tap For Thursday

Australia will on Thursday release September PMI data from Markit Economics, highlighting a busy day for Asia-Pacific economic activity. In August, the manufacturing index had a score of 52.0, while the services index was at 42.9 and the composite came in at 43.3.

Singapore will release August figures for consumer prices; in July, overall inflation was down 0.2 percent on month and up 2.5 percent on year, while core CPI rose an annual 1.0 percent.

The central bank in Taiwan 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 steady at 1.125 percent.

Taiwan also will see August figures for retail sales; in July, sales were down 0.3 percent on year.

Hong Kong will provide Q2 numbers for its current account; in the three months prior, the current account surplus was HKD59.8 billion.

Thailand will release August numbers for imports, exports and trade balance. Imports are expected to surged 40.35 percent on year, slowing from 45.95 percent in July. Exports are called higher by an annual 13.5 percent, down from 20.27 percent in the previous month. The trade surplus is pegged at $0.97 billion, up from $0.18 billion a month earlier.

The central bank in the Philippines 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 steady at 2 percent.

Finally, the markets in Japan are closed on Thursday for the Autumnal Equinox; they return to action on Friday.

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

source http://www.mt5.com/forex_news/quickview/2183023/

Dollar Firms Against Major Rivals After Fed Policy Announcement

The U.S. dollar firmed against its major rivals on Wednesday after the Federal Reserve hinted that tapering of the central bank's asset purchases could begin in the near futures.

The Fed, which announced its monetary policy this afternoon, said that a "moderation in the pace of asset purchases may soon be warranted" if progress towards its dual goals continues broadly as expected.

The central bank currently plans to continue its bond purchases at a rate of at least $120 billion per month but is expected to begin scaling back later this year.

Fed Chair Jerome Powell indicated during his post-meeting press conference that the central bank could begin tapering its asset purchases as soon as its next meeting in early November.

Powell said substantial further progress has been achieved with regard to the Fed's inflation goal, while "the test for substantial further progress on employment is all but met."

The National Association of Realtors released a report on Wednesday showing a pullback by U.S. existing home sales in the month of August. The report said existing home sales slumped by 2% to an annual rate of 5.88 million in August after jumping by 2.2% to a revised rate of 6.00 million in July.

Economists had expected existing home sales to decrease by 1.7% in August.

The dollar index, which dropped to 92.99 soon after the Fed announced its policy, recovered swiftly and rose to 93.51. It is currently hovering around 93.45, up 0.26% from the previous close.

Against the Euro, the dollar is gaining nearly 0.3% at $1.1694.

The Pound Sterling weakened to $1.3621 from $1.3690. The sterling had settled at $1.3659 on Tuesday.

The dollar strengthened against the Japanese currency, fetching 109.78 yen a dollar, advancing from 109.22 yen.

Against the Aussie, the dollar climbed to 0.7242, gaining 0.15%.

The Swiss franc weakened to 0.9263 a dollar from 0.9237.

The Loonie strengthened to 1.2772 a dollar, gaining from 1.2820, as crude oil prices rose sharply after data showed a larger than expected drop in U.S. crude stockpiles last week.

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

source http://www.mt5.com/forex_news/quickview/2183022/

Hang Seng, ASX 200 May See Relief After Fed. Evergrande Set for Restructuring?

The Hang Seng and ASX 200 may see some relief after the FOMC as sources close to the CCP mentioned that an Evergrande restructuring is imminent. Via DailyFX - Market News https://ift.tt/32vveVH

Oil Futures Settle Sharply Higher As Inventories Drop Again

Crude oil prices climbed higher on Wednesday after data showed a larger than expected drop in U.S. crude stockpiles in the week ended September 17.

Data from Energy Information Administration (EIA) showed U.S. crude inventories dropped for a seventh straight week.

West Texas Intermediate crude oil futures for November ended up by $1.74 or about 2.5% at $72.23 a barrel.

Brent crude futures were up $1.58 or 2.08% at $75.94 a barrel a little while ago.

The EIA data showed crude stockpiles dropped by 3.481 million barrels to 414 million barrels last week, the lowest level since October 2018.

Gasoline stockpiles rose by 3.47 million barrels, more than 2.5 times the expected increase, while distillate stockpiles dropped by 2.55 million barrels, more than twice the expected drop.

EIA also said that oil facilities in the Gulf of Mexico continue to return to production, and weekly output rose by 500,000 barrels per day in the most recent week.

Data released by the American Petroleum Institute late on Tuesday showed crude stockpiles in the U.S. dropped by about 6.1 million barrels in the week ended September 17.

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

source http://www.mt5.com/forex_news/quickview/2183021/

Treasuries Close Modestly Lower In Reaction To Fed Announcement

Treasuries moved mostly lower over the course of the session on Wednesday as traders reacted to the Federal Reserve's monetary policy announcement.

Bond prices initially moved higher after the Fed announcement but came under pressure going into the close. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, inched up by 1.2 basis points to 1.336 percent.

The lower close by treasuries came after the Fed hinted tapering of its asset purchases could begin in the near future amid continued progress towards it goals of maximum employment and price stability.

The Fed said in the announcement of its latest monetary policy decision that a "moderation in the pace of asset purchases may soon be warranted" if progress towards its dual goals continues broadly as expected.

The central bank currently plans to continue its bond purchases at a rate of at least $120 billion per month but is expected to begin scaling back later this year.

The comments about tapering asset purchases came as the Fed announced its widely expected decision to keep the target range for the federal funds rate at 0 to 0.25 percent.

The Fed also reiterated that it expects it will be appropriate to maintain this target range until labor market conditions have reached levels consistent with maximum employment and inflation is on track to moderately exceed 2 percent for some time.

However, the latest projections from the Fed showed a majority of officials now expect interest rates to be raised next year compared to previous forecasts calling for the first rate hike in 2023.

Fed officials also downwardly revised forecasts for U.S. GDP growth in 2021 to 5.9 percent from 7.0 percent, while forecasts for GDP growth in 2022 were upwardly revised to 3.8 percent from 3.3 percent.

Trading on Thursday may continue to be impacted by reaction the Fed announcement, although traders are also likely to keep an eye on the weekly jobless claims report.

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

source http://www.mt5.com/forex_news/quickview/2183020/