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Forex News from InstaForex
#1
Dear traders, participants and guests of the portal!

In this thread we present fresh Forex news. Our news contain exhaustive information about topical events and facts of the financial world; we offer international statistical data in order to help you correct and enhance your trading strategy. We also present video news from InstaForex-TV portal. InstaForex-TV channel provides the latest information about fluctuations of currency rates and forecasts their influence on the future movement of currencies. Our news will be especially useful if you prefer intraday trading and use fundamental analysis.
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#2
Canadian Dollar Slides Against Most Majors

The Canadian dollar weakened against most major currencies in the Asian session on Wednesday. The Canadian dollar fell to nearly a 3-week low of 1.5725 against the euro, from yesterday's closing value of 1.5657. Against the U.S. dollar and the yen, the loonie dropped to 1.3913 and 82.17 from yesterday's closing quotes of 1.3865 and 82.99, respectively. If the loonie extends its downtrend, it is likely to find support around 1.61 against the euro, 1.43 against the greenback and 79.00 against the yen.

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#3
Yen Rises Against Majors

The Japanese yen strengthened against the other major currencies in the Asian session on Thursday. The yen rose to more than a 2-year high of 163.84 against the pound and a 16-month high of 112.53 against the U.S. dollar, from yesterday's closing quotes of 164.56 and 113.32, respectively. Against the euro, the Swiss franc and the Canadian dollar, the yen advanced to 3-week highs of 127.35, 115.93 and 80.89 from yesterday's closing quotes of 127.96, 116.39 and 81.35, respectively. Against the Australian and the New Zealand dollars, the yen climbed to 2-day highs of 80.17 and 75.36 from yesterday's closing quotes of 80.38 and 75.73, respectively. If the yen extends its uptrend, it is likely to find resistance around 162.00 against the pound, 111.00 against the greenback, 126.00 against the euro, 114.00 against the franc, 78.00 against the loonie, 79.00 against the aussie and 73.00 against the kiwi.

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#4
Japan GDP Slides 1.4% On Year In Q4

Japan's gross domestic product contracted an annualized 1.4 percent on year in the fourth quarter of 2015, the Cabinet Office said in Monday's preliminary reading. That missed forecasts for a decline of 0.8 percent following the upwardly revised 1.3 percent increase in the third quarter (originally 1.0 percent). On a quarterly basis, GDP was down 0.4 percent - also shy of expectations for a decline of 0.2 percent following the 0.3 percent gain in the three months prior. Nominal GDP slipped 0.3 percent on quarter versus expectations for a fall of 0.1 percent following the upwardly revised 0.6 percent increase in the previous three months (originally 0.4 percent). The GDP deflator advanced 1.5 percent on year - also beneath forecasts for 1.6 percent and down from 1.8 percent in the third quarter. Private consumption tumbled 0.8 percent on quarter versus forecasts for a fall of 0.6 percent after gaining 0.4 percent in the previous three months. Capital expenditure gained 1.4 percent on quarter - topping expectations for a decline of 0.2 percent and accelerating from the 0.7 percent increase in the three months prior. Domestic demand shaved 0.5 percentage points from GDP growth, while net exports added 0.1 point.

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#5
Japan GDP Slides 1.4% On Year In Q4

Japan's gross domestic product contracted an annualized 1.4 percent on year in the fourth quarter of 2015, the Cabinet Office said in Monday's preliminary reading. That missed forecasts for a decline of 0.8 percent following the upwardly revised 1.3 percent increase in the third quarter (originally 1.0 percent). On a quarterly basis, GDP was down 0.4 percent - also shy of expectations for a decline of 0.2 percent following the 0.3 percent gain in the three months prior. Nominal GDP slipped 0.3 percent on quarter versus expectations for a fall of 0.1 percent following the upwardly revised 0.6 percent increase in the previous three months (originally 0.4 percent). The GDP deflator advanced 1.5 percent on year - also beneath forecasts for 1.6 percent and down from 1.8 percent in the third quarter. Private consumption tumbled 0.8 percent on quarter versus forecasts for a fall of 0.6 percent after gaining 0.4 percent in the previous three months. Capital expenditure gained 1.4 percent on quarter - topping expectations for a decline of 0.2 percent and accelerating from the 0.7 percent increase in the three months prior. Domestic demand shaved 0.5 percentage points from GDP growth, while net exports added 0.1 point.

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#6
South Korea Money Supply Growth Eases Further

South Korea's money supply growth slowed for the third straight month in December, preliminary figures from the Bank of Korea showed Monday. M2, a broad measure of money supply, rose 7.5 percent year-over-year in December, slower than the 7.7 percent spike in the previous month. On a monthly basis, M2 money supply dropped slightly by 0.1 percent at the end of the year, reversing a 0.4 percent increase in November. At the same time, annual growth in liquidity quickened to 8.3 percent in December from 7.8 percent in the preceding month. Liquidity of financial institutions grew at a slower pace of 8.9 percent yearly in December, following a 9.2 percent hike a month earlier.

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#7
Singapore Airlines expects global economic weakness to dent premium traffic

Singapore Airlines is expecting weakness in the global economy to affect its premium air traffic, its chief executive officer Goh Choon Phong said on Monday. Phonh said, "we are still seeing the demand in this segment on our routes anyway, to be fairly strong”. SIA's business model hinges on using its hub at Singapore's Changi Airport to connect passengers within Asia and to Europe, Australia and the U.S.

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#8
Canadian Dollar Rises Against Most Majors

The Canadian dollar strengthened against most majors in the Asian session on Tuesday. The Canadian dollar rose to near 2-week highs of 1.3773 against the U.S. dollar and 1.5372 against the euro, from yesterday's closing quotes of 1.3832 and 1.5428, respectively. Against the yen, the loonie advanced to a 1-week high of 83.24 from yesterday's closing value of 82.79. If the loonie extends its uptrend, it is likely to find resistance around 1.36 against the greenback, 1.49 against the euro and 87.00 against the yen.

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#9
RBA Minutes: Domestic Economy Improved More Than Expected

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Members of the Reserve Bank of Australia's monetary policy board said that the country's economy has continued to pick up steam, and at a slightly faster rate than expected, minutes from the central bank's November 6 meeting revealed on Tuesday.

At the meeting, the RBA kept its benchmark interest rate on hold at a record low of 1.50 percent for the 26th consecutive meeting. The interest rate has been at the current level since August 2016.

"Members judged that holding the stance of monetary policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time," the minutes said.

The appreciating U.S. dollar and its effect on the Australian currency has helped to boost domestic growth, the minutes said. They added that the inflation rate remained low and stable beneath the midpoint of the target range, as expected.

They further added that while a change to the rate is not imminent, it's likely to be an increase - not a decrease, owing to the improvements in the economy.

"There was no strong case for a near-term adjustment in monetary policy. Rather, members assessed that it would be appropriate to hold the cash rate steady and for the Bank to be a source of stability and confidence while this progress unfolds," the minutes said.

Although policymakers expect further progress in the reduction of unemployment and inflation returning to target, this progress is likely to be gradual, the bank noted.

The Australian economy was performing well with the GDP growing by 3.4 percent and the unemployment rate declining to five percent over the past year, the RBA said.

The bank revised up its economic growth forecasts for 2018 and 2019. Economic growth is expected to be around 3.5 percent over these two years, before slowing in 2020 due to slower growth in exports of resources.

"Taking account of the available information on current economic and financial conditions, as well as the latest forecasts, members assessed that the current stance of monetary policy would continue to support economic growth and allow for further gradual progress to be made in reducing the unemployment rate and returning inflation towards the midpoint of the target," the minutes said.

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#10
NZ Dollar Advances Against Majors

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The New Zealand dollar climbed against its major counterparts in late Asian deals on Wednesday.

The kiwi advanced to 0.6813 against the greenback, from an early weekly low of 0.6782.

The kiwi climbed to 76.92 against the yen and 1.6700 against the euro, off its previous 8-day low of 76.44 and a 2-day low of 1.6760, respectively.

The kiwi rose back to 1.0614 against the aussie, after falling to 1.0649 at 9:15 pm ET.

If the kiwi rises further, it may find resistance around 0.69 against the greenback, 78.00 against the yen, 1.65 against the euro and 1.05 against the aussie.

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#11
The Ifo business climate index in Germany fell to 102 in November

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According to the Ifo Institute, the mood in German companies continued to decline in November, worsening their business forecasts for the next six months. The business climate index in November, calculated by the institute, fell from the October mark of 102.9 to 102.0. Experts predicted that the figure will be 102.3.

Thus, we can conclude that the German economy is showing signs of cooling, notes Ifo's president, Clemens Fuest. Manufacturing companies are unhappy with the current situation in the country and fear that the prospects for the success of their business are in doubt. However, according to Ifo, the number of companies willing to raise prices has increased.

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#12
Brexit could cut UK GDP by 5.5% by 2030

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According to a study by the London School of Economics and King's College, UK GDP could be reduced by 5.5% by 2030 compared to what the United Kingdom could be in the European Union. Moreover, in the absence of a transaction, the growth of the British economy can be from 3.5% to 8.7%.

By making such assumptions, the authors of the study paid attention to the likelihood of the emergence of trade barriers after Britain's withdrawal from the EU and the decline in immigration flow. At the same time, the study was carried out taking into account the preservation of Great Britain in the customs union, but exclusion from the single market.

Experts also believe that Brexit will entail an increase in regulatory barriers to trade not only in goods but also in services. Also, the deal will mean a restriction of freedom of movement between countries, which will lead to a reduction in both skilled and unskilled workers from other countries.

Together, all these factors will lead to the fact that the growth rate of the British economy will be lower than 1.9-5.5% , if the country remained in the EU.

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#13
Australia Company Operating Profits Rise 1.9% In Q3

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Company operating profits in Australia were up a seasonally adjusted 1.9 percent on quarter in the third quarter of 2018, the Australian Bureau of Statistics said on Monday.

That missed expectations for an increase of 2.8 percent and was down from 2.0 percent in the three months prior.

Inventories were flat on quarter, missing forecasts for an increase of 0.4 percent and down from 0.6 percent in the second quarter.

On a yearly basis, company profits were up 13.5 percent and inventories gained 1.6 percent. Wages and salaries were up 0.9 percent on quarter and 4.3 percent on year.

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#14
RBA Leaves Interest Rate Unchanged At Record Low

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The Reserve Bank of Australia on Tuesday decided to keep its benchmark interest rate on hold at a record low citing sluggish wage growth and low inflation.

The board of the Reserve Bank of Australia, governed by Philip Lowe, voted to maintain the cash rate at 1.50 percent. The interest rate has remained at the current level since August 2016.

"Taking account of the available information, the Board judged that holding the stance of monetary policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time," the bank said in a statement.

Policymakers observed that the low level of interest rates is continuing to support the Australian economy. Policymakers expect further progress in the reduction of unemployment and inflation returning to target, but this progress is likely to be gradual.

The Australian economy is performing well with the GDP growth expected to average around 3.5 percent for this year and next, the bank said.

Inflation is forecast to pick up in the coming years, with the growth likely to be gradual. The central scenario is for inflation to be 2.25 percent in 2019 and a bit higher in the following year.

Labour market remained strong with the unemployment rate declining to five percent over the past year. As the economy is expected to continue to grow above trend, a further reduction in the unemployment rate is likely, the bank noted.

Concerning property market, the RBA said conditions in the Sydney and Melbourne housing markets have continued to ease and nationwide measures of rent inflation remain low.

The outlook for household consumption remained as a source of uncertainty for the economy, the bank cautioned.

Growth in household income remains low, debt levels are high and some asset prices have declined. Growth in credit extended to owner-occupiers has eased, while the demand by investors has slowed noticeably due to changing dynamics of the housing market, it added.

The RBA statement sounded a little cautious by assessing external conditions to be less favorable, Marcel Thieliant, an economist at Capital Economics, said.

Thieliant suggested that the Bank seemed to be getting a bit more worried about the downturn in the housing market.

Given dovish outlook for the economy and prices, the economist believe that rates will not rise until late in 2020.

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#15
China Services PMI Surges In November - Caixin

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The services sector in China continued to expand in November, and at a greatly accelerated rate, the latest survey from Caixin revealed on Wednesday with a PMI score of 53.8.

That beat expectations for 50.8, which would have been unchanged from the October reading. It also moves further above the boom-or-bust line of 50 that separates expansion from contraction.

Also, the composite index jumped to 51.9 in November, up from 50.5 a month earlier.

Individually, November marked the steepest increase in services activity in five months, while manufacturing production remained stable.

Composite new businesses climbed at their quickest pace since June, while inflationary pressures cooled.

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