New Zealand Building Consents -2.2% On Month In May

New Zealand Building Consents -2.2% On Month In May

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source http://www.mt5.com/forex_news/quickview/2214482/

Japan Tankan Survey Data On Tap For Monday

The Bank of Japan will on Monday release its quarterly Tankan Survey of business sentiment, highlighting a busy day for Asia-Pacific economic activity.

In the first quarter, large industry capex was seen higher by 3.2 percent, while small industry capex was seen higher by 1.4 percent. The large manufacturers index had a score of +1 with an outlook of +3, while the large non-manufacturers index had a score of +15 with an outlook of +20.

New Zealand will provide May figures for building consents; in April, consents were down 2.6 percent on month.

Australia will release May numbers for building permits and home loans. Approvals are expected to rise 2.0 percent on month after sinking 8.1 percent in April. Home loans were down 3.8 percent on month in April.

Hong Kong will provide May figures for retail sales; in April, sales were up 15.0 percent on year.

Indonesia will release June figures for consumer prices, with forecasts suggesting an increase of 0.24 percent on month and 3.64 percent on year after adding 009 percent on month and 4.00 percent on year in May. Core CPI is expected to add 2.64 percent on year, easing from 2.66 percent in the previous month

Finally, several of the regional nations will see June results for their respective manufacturing PMIs from S&P Global, including Australia (Judo), Indonesia, Japan (Jibun), Malaysia, the Philippines, South Korea, Taiwan, Thailand, Vietnam and China (Caixin).

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source http://www.mt5.com/forex_news/quickview/2214481/

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Dollar Loses Ground Against Major Counterparts

The U.S. dollar turned weak against its major counterparts on Friday after data showed an unexpected slowdown in the annual rate of consumer price growth last month.

Data from the Commerce Department showed the annual rate of consumer price growth slowed to 3.8% in May from 4.3% in April. The slowdown surprised economists, who had expected growth to accelerate to 4.6%.

The annual rate of growth by core consumer prices, which exclude food and energy prices, also slowed to 4.6% in May from 4.7% in April. Economists had expected the pace of growth to be unchanged.

The readings on consumer price inflation, which are said to be preferred by the Federal Reserve, were included in the Commerce Department's report on personal income and spending.

Although economists generally still expect the Fed to raise interest rates by another quarter point next month, but the data has added to optimism the central bank will not follow through with additional rate hikes.

The dollar index dropped to 102.75 around mid morning, and despite recovering to 102.91, remains weak, losing about 0.41% from the previous close.

Against the Euro, the dollar has weakened to 1.0910 from 1.0864. Against Pound Sterling, the dollar is trading at 1.2696, easing from 1.2612.

The dollar is weak against the Japanese currency, fetching 144.33 yen a unit, compared with 144.79 unit Thursday evening.

The dollar is weak against the Aussie at 0.6666. Against Swiss franc, the dollar is trading at CHF 0.8950, drifting down from CHF 0.8996. Against the Loonie, the dollar is little changed at C$ 1.3252.

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source http://www.mt5.com/forex_news/quickview/2214480/

Oil Futures Settle Higher For 3rd Straight Day

Crude oil prices climbed higher on Friday, extending recent gains, as data showing a drop fall in U.S. crude inventories continued to support the commodity.

Hopes of a stimulus from China, and data showing a slowdown in U.S. consumer price growth contributed as well to the rise in oil prices.

Data from the Energy Information Administration (EIA) earlier in the week showed a 9.6M bpd draw and robust demand signs everywhere.

West Texas Intermediate Crude oil futures for August ended higher by $0.78 or about 1.1% at $70.64 a barrel. However, WTI Crude futures shed about 12% in the January - June period, and lost more than 6% in the April - June quarter.

Brent crude futures were up $0.94 or 1.26% at $75.45 a barrel a little while ago.

Official data showed earlier today that manufacturing activity in China shrank for a third straight month in June, albeit at a slower pace.

The manufacturing PMI rose to 49.0 in June from 48.8 a month ago -matching expectations. The non-manufacturing sector continued to expand in June, with the corresponding index falling to 53.2 from 54.5 in the previous month.

Data from the Commerce Department showed the annual rate of consumer price growth slowed to 3.8% in May from 4.3% in April. The slowdown surprised economists, who had expected growth to accelerate to 4.6%.

The readings on consumer price inflation, which are said to be preferred by the Federal Reserve, were included in the Commerce Department's report on personal income and spending.

While economists generally still expect the Fed to raise interest rates by another quarter point next week, the data has added to optimism the central bank will not follow through with additional rate hikes.

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

source http://www.mt5.com/forex_news/quickview/2214479/

Treasuries Regain Ground Following Inflation Data

Following the sharp pullback seen in the previous session, treasuries regained some ground during the trading day on Friday.

Bond prices moved to the upside in early trading and remained positive throughout most of the session. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, fell by 3.5 basis points to 3.819 percent.

The ten-year yield moved lower after surging by 14.4 basis points on Thursday to its highest closing level in well over three months.

The rebound by treasuries came following the release of a Commerce Department report showing an unexpected slowdown in the annual rate of consumer price growth in the month of May.

The report said the annual rate of consumer price growth slowed to 3.8 percent in May from 4.3 percent in April. The slowdown surprised economists, who had expected growth to accelerate to 4.6 percent.

The annual rate of growth by core consumer prices, which exclude food and energy prices, also slowed to 4.6 percent in May from 4.7 percent in April. Economists had expected the pace of growth to be unchanged.

The readings on consumer price inflation, which are said to be preferred by the Federal Reserve, were included in the Commerce Department's report on personal income and spending.

While economists generally still expect the Fed to raise interest rates by another quarter point next month, the data has added to optimism the central bank will not follow through with additional rate hikes.

With the 4th of July holiday on Tuesday, trading activity may be somewhat subdued next week ahead of the release of the 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/2214478/