*Australia Performance Of Manufacturing Index 51.6 In August - AiG

Australia Performance Of Manufacturing Index 51.6 In August - AiG

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

source http://www.mt5.com/forex_news/quickview/2181969/

Australia GDP Data Due On Wednesday

Australia will on Wednesday release Q2 figures for gross domestic product, highlighting a busy day for Asia-Pacific economic activity. GDP is expected to rise 0.5 percent on quarter and 9.2 percent on year after gaining 1.8 percent on quarter and 1.1 percent on year in the previous three months.

Australia also will see August results for the Performance of Manufacturing Index from AiG; in July, the index score was 60.8.

Japan will provide Q2 data for capital spending; in the three months prior, capex was down 7.8 percent on year.

South Korea will release August numbers for imports, exports and trade balance. In July, imports were up 38.2 percent on year and exports climbed 29.6 percent for a trade surplus of $1.76 billion.

Indonesia will provide August figures for consumer prices, with forecasts suggesting an increase of 0.03 percent on month and 1.6 percent on year following the 0.08 percent monthly increase and the 1.52 percent annual gain in July. Core CPI is tipped to rise 1.3 percent on year, slowing from 1.4 percent a month earlier.

Thailand will see August results for its business confidence index; in July, the index score was 41.4.

A number of regional countries will see August manufacturing PMI results from Markit Economics, including Indonesia (40.1 previously), Japan (Jibun, 53.0), the Philippines (50.4), South Korea (53.0), Australia (56.9), Taiwan (59.7), Thailand (48.7) and China (Caixin, 50.3).

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

source http://www.mt5.com/forex_news/quickview/2181968/

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Dollar Loses Ground Against Most Of Its Major Rivals

The U.S. dollar drifted down to a more than 3-week low on Tuesday with traders looking ahead to the upcoming U.S. jobs data, and speculating about the central bank's likely take on monetary policy.

Ever since the Fed Chair Jerome Powell said during his speech at the Jackson Hole symposium Friday morning that the central bank will likely start reducing its monthly bond purchases before the end of this year, but rate hikes might not happen anytime soon, the dollar has been turning in a subdued performance against its major rivals.

A report from the Conference Board showed a substantial deterioration in U.S. consumer sentiment in the month of August.

The Conference Board said its consumer confidence index tumbled to 113.8 in August from a downwardly revised 125.1 in July. Economists had expected the consumer confidence index to drop to 123.0 from the 129.1 originally reported for the previous month.

With the bigger than expected decrease, the index slumped to its lowest level since hitting 95.2 in February of 2021.

The dollar index, which slid to 92.40 earlier in the day, was last seen at 92.67, little changed from the previous close.

Against the Euro, the dollar is weak at $1.1810, compared to Monday's close of $1.1799. Flash data from Eurostat showed eurozone inflation rose to 3% in August from 2.2% in July. This was the highest since November 2011 and also exceeded the European Central Bank's 2% target and economists' forecast of 2.7%.

The Pound Sterling is up slightly at $1.3754 a unit. The UK mortgage approvals declined to one-year low in July following the initial tapering off of the stamp duty holiday, figures from the Bank of England showed.

The Yen is weak at 110.00 a dollar, easing from 109.92. Japan's retail sales grew for the fifth straight month in July, rising by 2.4% year-on-year, data published by the Ministry of Economy, Trade and Industry showed.

On a monthly basis, retail sales were up 1.1 percent in July, data showed.

Against the Aussie, the dollar has weakened to 0.7314, drifting down from 0.7296. Australia's retail sales fell a seasonally adjusted 2.7% from June, when they dropped 1.8%, the Australian Bureau of Statistics said. Economists had forecast a 2.3% slump.

The Swiss franc has firmed to 0.9153 a dollar, gaining from 0.9174.

The Loonie is down slightly at 1.2616 a dollar. The Canadian economy unexpectedly shrank 0.3% on quarter in the second quarter, ending three straight quarters of expansion. On an annualized basis, the Canadian economy contracted 1.1%, compared to forecasts of a 2.5% expansion.

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

source http://www.mt5.com/forex_news/quickview/2181967/

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Treasuries Close Modestly Lower Following Lackluster Session

Treasuries fluctuated over the course of the trading session on Tuesday before ending the day modestly lower.

Bond prices bounced back and forth across the unchanged line in morning trading before settling in negative territory. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, rose by 1.9 basis points to 1.304 percent.

The downturn in treasuries seemed to coincide with the release of a report from the Conference Board showing a substantial deterioration in consumer confidence in the month of August.

The Conference Board said its consumer confidence index tumbled to 113.8 in August from a downwardly revised 125.1 in July.

Economists had expected the consumer confidence index to drop to 123.0 from the 129.1 originally reported for the previous month.

With the bigger than expected decrease, the index slumped to its lowest level since hitting 95.2 in February of 2021.

"Concerns about the Delta variant-and, to a lesser degree, rising gas and food prices-resulted in a less favorable view of current economic conditions and short-term growth prospects," said Lynn Franco, Senior Director of Economic Indicators at The Conference Board.

She added, "While the resurgence of COVID-19 and inflation concerns have dampened confidence, it is too soon to conclude this decline will result in consumers significantly curtailing their spending in the months ahead."

Reports on private sector employment and manufacturing activity may attract attention on Wednesday, although trading activity may remain somewhat subdued ahead of the release of the more closely watched monthly jobs report on Friday.

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

source http://www.mt5.com/forex_news/quickview/2181966/