South Korea Trade Data On Tap For Friday

South Korea will on Friday release August figures for imports, exports and trade balance, highlighting a busy day for Asia-Pacific economic activity.

Imports are expected to tumble 25.4 percent on year, unchanged from the July reading. Exports are capped lower by an annual 16.4 percent after sinking 16.5 percent in the previous month. The trade surplus is pegged at $1.65 billion, up from $1.63 billion a month earlier.

Indonesia will see August figures for consumer prices, with forecasts suggesting an increase of 0.10 percent on month and 3.33 percent on year following the 0.21 percent monthly increase and the 3.08 percent annual gain in July. Core CPI is seen higher by 2.30 percent on year, slowing from 2.43 percent in the previous month.

Australia will release July figures for home loans, with forecasts calling for a decline of 1.0 percent on month following the 2.8 percent contraction in June.

Japan will provide Q2 data for capital spending, with forecasts suggesting an increase of 5.4 percent on year - slowing from 11.0 percent in the previous three months.

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

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

source http://www.mt5.com/forex_news/quickview/2217475/

Crude Oil Price Climbs on Russia News and EIA Data as it Eyes New Highs

Crude oil prices appear underpinned going into the end of the week with the market spooked by possible production cuts from Moscow and dwindling US inventory. Where to for WTI? Via DailyFX - Market News https://www.dailyfx.com

U.S. Dollar Regains Ground Following Inflation Data

The value of the U.S. dollar has moved to the upside during trading on Thursday, regaining ground after moving notably lower earlier in the session.

The U.S. dollar index moved higher in morning trading and remains up 0.47 points or 0.5 percent at 103.63.

Meanwhile, the greenback is trading at 145.90 yen versus the 146.24 yen it fetched at the close of New York trading on Wednesday. Against the euro, the dollar is valued at $1.0843 compared to yesterday's $1.0923.

The advance by the dollar comes amid continued optimism about the Federal Reserve leaving interest rates unchanged after the Commerce Department released a report showing consumer price growth in the U.S. accelerated in line with economist estimates in the month of July.

The Commerce Department said the annual rate of consumer price growth increased to 3.3 percent in July from 3.0 percent in June. The faster growth matched expectations.

The reading on inflation also showed consumer prices rose 0.2 percent on a monthly basis in July, matching the uptick in June as well as economist estimates.

The report also said the annual rate of growth by core consumer prices, which exclude food and energy prices, inched up to 4.2 percent in July from 4.1 percent in June. The modest increase also matched expectations.

Core consumer prices rose by 0.2 percent on a monthly basis in July after edging up by 0.2 percent in June, in line with estimates.

The readings on prices for personal consumption expenditures are said to be the Federal Reserve's preferred gauges of inflation.

"July PCE inflation was modest for a second straight month, establishing a solid runway for the Fed to leave rates unchanged next month," said Chris Low and Will Compernolle, FHN Financial Chief Economist and Macro Strategist.

They added, "There is one more CPI report before the September FOMC meeting (coming during the pre-meeting quiet period) that could shift the FOMC's inflation confidence when setting rate and inflation projections for the year ahead."

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

source http://www.mt5.com/forex_news/quickview/2217474/

Treasuries Move Modestly Higher Following Inflation Data

After ending the previous session little changed, treasuries showed a modest move to the upside during trading on Thursday.

Bond prices moved higher in morning trading but gave back some ground in the afternoon. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, fell 2.5 basis points to 4.093 percent.

The ten-year yield moved lower for the fourth straight session, dropping to its lowest closing level in three weeks.

Treasuries benefited from continued optimism about the Federal Reserve leaving interest rates unchanged after the Commerce Department released a report showing consumer price growth in the U.S. accelerated in line with economist estimates in the month of July.

The Commerce Department said the annual rate of consumer price growth increased to 3.3 percent in July from 3.0 percent in June. The faster growth matched expectations.

The reading on inflation also showed consumer prices rose 0.2 percent on a monthly basis in July, matching the uptick in June as well as economist estimates.

The report also said the annual rate of growth by core consumer prices, which exclude food and energy prices, inched up to 4.2 percent in July from 4.1 percent in June. The modest increase also matched expectations.

Core consumer prices rose by 0.2 percent on a monthly basis in July after edging up by 0.2 percent in June, in line with estimates.

The readings on prices for personal consumption expenditures are said to be the Federal Reserve's preferred gauges of inflation.

"The lack of an inflation surprise to the upside should be cheered by markets because it is unlikely to move the Fed's bias towards leaving rates unchanged at their next meeting," said Chris Zaccarelli, Chief Investment Officer for Independent Advisor Alliance.

He added, "Not only is the Fed unlikely to raise rates at the next meeting, they are unlikely to raise rates again this year as long as inflation continues to remain contained."

Buying interest remained somewhat subdued, however, as traders seemed reluctant to make significant moves ahead of the release of the closely watched monthly jobs report on Friday.

Economists expect employment to increase by 170,000 jobs in August after climbing by 187,000 jobs in July, while the unemployment rate is expected to remain at 3.5 percent.

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

source http://www.mt5.com/forex_news/quickview/2217472/

Gold Shows Modest Pullback As U.S. Dollar Climbs

After moving higher over the three previous sessions, the price of gold showed a modest move back to the downside during trading on Thursday.

Gold for December delivery slipped $7.10 or 0.4 percent to $1,965.90 an ounce after ending Wednesday's trading up $7.90 or 0.4 percent at $1,973 an ounce.

The pullback by the price of gold was partly due to an increase in the value of the U.S. dollar, with the U.S. dollar index climbing by 0.4 percent to 103.59.

The dollar moved higher following the release of a Commerce Department report showing consumer price growth in the U.S. accelerated in line with economist estimates in the month of July.

The Commerce Department said the annual rate of consumer price growth increased to 3.3 percent in July from 3.0 percent in June. The faster growth matched expectations.

The reading on inflation also showed consumer prices rose 0.2 percent on a monthly basis in July, matching the uptick in June as well as economist estimates.

The report also said the annual rate of growth by core consumer prices, which exclude food and energy prices, inched up to 4.2 percent in July from 4.1 percent in June. The modest increase also matched expectations.

Core consumer prices rose by 0.2 percent on a monthly basis in July after edging up by 0.2 percent in June, in line with estimates.

The readings on prices for personal consumption expenditures are said to be the Federal Reserve's preferred gauges of inflation.

"July PCE inflation was modest for a second straight month, establishing a solid runway for the Fed to leave rates unchanged next month," said Chris Low and Will Compernolle, FHN Financial Chief Economist and Macro Strategist.

They added, "There is one more CPI report before the September FOMC meeting (coming during the pre-meeting quiet period) that could shift the FOMC's inflation confidence when setting rate and inflation projections for the year ahead."

The inflation readings were included in the Commerce Department's report on personal income and spending in the month of July.

The report said personal income crept up by 0.2 percent in July after rising by 0.3 percent in June, while personal spending advanced by 0.8 percent in July after climbing by 0.6 percent in June.

Economists had expected personal income and spending to increase by 0.3 percent and 0.6 percent, respectively.

With the more closely watched monthly jobs report looming, the Labor Department also released a report unexpectedly showing a slight decrease in first-time claims for U.S. unemployment benefits in the week ended August 26th.

The report said initial jobless claims edged down to 228,000, a decrease of 4,000 from the previous week's revised level of 232,000.

Economists had expected jobless claims to inch up to 235,000 from the 230,000 originally reported for the previous week.

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

source http://www.mt5.com/forex_news/quickview/2217471/

U.S. Dollar Advances As Jobless Claims Drop, PCE Inflation Rises

The U.S. dollar moved up against its major counterparts in the New York session on Thursday, as the Federal Reserve's preferred gauge of inflation accelerated in July and initial jobless claims fell unexpectedly last week, supporting expectations that the central bank will keep interest rates on hold at its policy meeting next month.

Data from the Commerce Department showed that the annual rate of consumer price growth increased to 3.3 percent in July from 3.0 percent in June. The faster growth matched expectations.

On a monthly basis, consumer prices rose 0.2 percent in July, matching the uptick in June as well as economist estimates.

The annual rate of growth by core consumer prices, which exclude food and energy prices, inched up to 4.2 percent in July from 4.1 percent in June. The modest increase also matched expectations.

Core consumer prices rose by 0.2 percent on a monthly basis in July after edging up by 0.2 percent in June, in line with estimates.

The report said personal income crept up by 0.2 percent in July after rising by 0.3 percent in June, while personal spending advanced by 0.8 percent in July after climbing by 0.6 percent in June.

Data from the Labor Department showed a slight decrease in first-time claims for U.S. unemployment benefits in the week ended August 26.

Initial jobless claims edged down to 228,000, a decrease of 4,000 from the previous week's revised level of 232,000.

Economists had expected jobless claims to inch up to 235,000 from the 230,000 originally reported for the previous week.

The greenback climbed to 0.8845 against the franc and 1.0840 against the euro, setting 2-day highs. Next key resistance for the currency may be located around 0.90 against the franc and 1.06 against the euro.

The greenback rebounded to 0.6461 against the aussie and 1.3551 against the loonie, from its early lows of 0.6507 and 1.3514, respectively. The greenback is seen facing resistance around 0.63 against the aussie and 1.38 against the loonie.

The greenback was up against the kiwi, at a 2-day high of 0.5930. The greenback may challenge resistance around the 0.56 level.

The greenback ticked up to 1.2652 against the pound, reversing from an early low of 1.2734. If the currency rises further, 1.23 is likely seen as its next upside target level.

In contrast, the greenback fell against the yen, touching a 1-week low of 145.45. On the downside, 138.00 is likely seen as its next support level.

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

source http://www.mt5.com/forex_news/quickview/2217470/

Wait-and-See Ahead of US PCE Data, China’s PMI Mixed: SPDR Semiconductor ETF, China A50, Brent Crude

Wall Street headed higher for the fourth straight day, but this time with more measured gains as some reservations kicked in ahead of the US core PCE data release later today. Via DailyFX - Market News https://www.dailyfx.com