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Wednesday, 1 December 2021
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Australia GDP Data Due On Wednesday
Australia will on Wednesday release Q3 figures for gross domestic product, headlining a busy day for Asia-Pacific economic activity.
GDP is expected to slip 2.7 percent on quarter and rise 3.0 percent on year after gaining 0.7 percent on quarter and 9.6 percent on year in the three months prior.
Japan will provide Q3 numbers for capital spending; in the previous three months, capex was up 5.3 percent on year.
South Korea will see November numbers for imports, exports and trade balance. Imports are expected to surged 40.5 percent on year, up from 37.8 percent in October. Exports are called higher by an annual 27.7 percent, up from 24.0 percent in the previous month. The trade surplus was $1.69 billion in October.
Indonesia will release November numbers for consumer prices; in October, inflation was up 0.12 percent on month and 1.66 percent on year.
Thailand will see November results for its business confidence index; in October, the index score was 47.0.
Finally, a number of regional nations will see November results for their respective manufacturing PMIs from Markit Economics, including Australia, China (Caixin), Indonesia, Japan (Jibun), Malaysia, Myanmar, the Philippines, South Korea, Taiwan, Thailand and Vietnam.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2186386/
Australia Manufacturing Sector Accelerates In November - Markit
The manufacturing sector in Australia continued to expand in November, and at a faster pace, the latest survey from Markit Economics showed on Wednesday with a manufacturing PMI score of 59.2.
That's up from 58.2 in October and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
This marks the eighteenth straight month in which the sector grew and at the third-fastest rate on record.
A further easing of COVID-19 restrictions boosted market confidence and enabled demand to rise at a stronger pace in November. In turn, production likewise ramped up according to the latest survey results.
New export orders improved as well with COVID-19 restrictions easing abroad, though the rate of growth fell amidst ongoing shipping issues.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2186385/
Dollar Rebounds From Early Lows After Powell's Comments On Policy Tightening
The U.S. dollar drifted lower in the Asian session on Tuesday and shed further ground subsequently before briefly rebounding above the flat line a little before noon after the Fed Chief indicated the central bank would discuss accelerate the pace of tightening its policy.
However, the greenback retreated soon and kept sliding gradually as the day progressed, with traders weighing the likely impact of the Omicron variant of the coronavirus on the global economy.
Federal Reserve Chairman Jerome Powell indicated the central bank could hasten a tightening of monetary policy.
Powell told the Senate Committee that he thinks reducing the pace of monthly bond buys can move more quickly than the $15 billion a month schedule announced earlier this month.
Powell's comments suggesting accelerated tapering comes as he told the Senate Banking Committee the recent surge in new Covid-19 cases and the emergence of the Omicron variant pose downside risks to employment and economic activity and increased uncertainty for inflation.
Traders also reacted to the latest batch of economic reports. MNI Indicators released a report today that showed a slowdown in the pace of growth in Chicago-area business activity in the month of November.
The report said the Chicago business barometer slid to 61.8 in November from 68.4 in October, although a reading above 50 still indicates growth. Economists had expected the business barometer to edge down to 67.0.
Meanwhile, the Conference Board's report showed consumer confidence deteriorated in the month of November. The Conference Board said its consumer confidence index fell to 109.5 in November from a downwardly revised 111.6 in October. Economists had expected the index to dip to 110.7 from the 113.8 originally reported for the previous month.
Moderna's CEO Stephane Bancel expressed apprehensions about the effectiveness of existing vaccines against the newly identified Omicron variant.
Bancel said in an interview to the Financial Times that it will take a couple of weeks to determine how much the mutations have affected the efficacy of the vaccines currently available in the market.
The dollar index, which climbed to 96.64 from a low of 95.52, is hovering around 95.90, down nearly 0.5% from the previous close.
Against the Euro, the dollar is trading at $1.1339, compared to $1.1294 Monday evening.
The dollar has firmed to $1.3299 against Pound Sterling, gaining from $1.3314.
Against the Yen, the dollar is weaker by about 0.3%, fetching 113.16 yen a unit, as against 113.53 yen on Monday.
The dollar is trading at $0.7128 against the Aussie, firming from $0.7143.
The Swiss franc is at 0.9185 against the dollar, gaining from 0.0229.
The Loonie is weaker against the dollar, easing to C$1.2779 from C$1.2740, weighed down by falling crude oil prices.
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2186383/
*Australia Manufacturing PMI 59.2 In November - Markit
Australia Manufacturing PMI 59.2 In November - Markit
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2186384/
*Australia Performance Of Manufacturing Index 54.8 In November - AiG
Australia Performance Of Manufacturing Index 54.8 In November - AiG
The material has been provided by InstaForex Company - www.instaforex.com
source http://www.mt5.com/forex_news/quickview/2186382/