Hong Kong Current Account Data Due On Thursday

Hong Kong will on Thursday release Q4 numbers for current account, highlighting a light day for Asia-Pacific economic activity.

In the three months prior, Hong Kong had a current account surplus of 45.56 billion HKD.

Singapore will provide February figures for consumer and producer prices. In January, consumer prices were up 0.2 percent on month and 0.6 percent on year, while producer prices jumped 9.0 percent on year.

The central bank in the Philippines will wrap up its monetary policy meeting and then announce its decision on interest rates. The bank is widely expected to keep its benchmark lending rate steady at 3 percent.

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

The post Hong Kong Current Account Data Due On Thursday appeared first on forexnewstoday.net.

Continue Reading

RBNZ Holds Official Cash Rate Steady At 1.75%

The Reserve Bank of New Zealand on Thursday maintained its Official Cash Rate at the record low of 1.75 percent.

The decision was in line with expectations following a rate cut in November. Following no move in September, the central bank trimmed its benchmark by 25 basis points in August after holding fire for three straight months.

The central bank has pared a collective 1.50 percent from its benchmark in the last 12 months, lowering the rate in six of the last 11 meetings after six straight sessions with no change.

Macroeconomic indicators in advanced economies have been positive over the past two months, RBNZ Governor Graeme Wheeler noted.

“Major challenges remain with on-going surplus capacity in the global economy and extensive geo-political uncertainty,” Wheeler said in a statement accompanying the decision.

He also pointed to an increase in global headline inflation, noting that monetary policy is expected to remain stimulatory.

“Global headline inflation has increased, partly due to a rise in commodity prices, although oil prices have fallen more recently. Core inflation has been low and stable. Monetary policy is expected to remain stimulatory, but less so going forward, particularly in the U.S.,” Wheeler said.

Inflation is seen holding steady within the bank’s target range midpoint, right near 2 percent.

The bank added that domestic growth was slightly weaker than expected, although that situation is viewed as temporary – adding that the growth outlook continued to be favorable.

“Monetary policy will remain accommodative for a considerable period. Numerous uncertainties remain, particularly in respect of the international outlook, and policy may need to adjust accordingly,” Wheeler said.

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

The post RBNZ Holds Official Cash Rate Steady At 1.75% appeared first on forexnewstoday.net.

Continue Reading

Treasuries Extend Upward Trend Ahead Of Obamacare Repeal Vote

Treasuries moved to the upside during trading on Wednesday, extending the upward trend seen over the past several sessions.

After showing a strong upward move in early trading, bond prices gave back some ground but remained firmly positive. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, dropped by 4 basis points to 2.396 percent.

With the decrease on the day, the ten-year yield closed lower for the sixth time in seven sessions, hitting its lowest closing level in almost a month.

Treasuries continued to benefit from concerns about President Donald Trump’s ability to implement his policy agenda amid uncertainty about the Republican plan to repeal and replace Obamacare.

The latest reports suggest House Republicans may not have the votes to pass their healthcare plan in a vote expected to be held on Thursday.

The Republican plan faces an even tougher uphill climb in the Senate, raising concerns about what the GOP can accomplish even with a unified government.

If the healthcare bill fails, it could imperil other Trump policies such as tax reform and increased infrastructure spending.

On the U.S. economic front, the National Association of Realtors released a report showing bigger than expected pullback in existing home sales in the month of February.

NAR said existing home sales tumbled by 3.7 percent to an annual rate of 5.48 million in February after jumping by 3.3 percent to a rate of 5.69 million in January. Economists had expected sales to drop to 5.58 million.

The bigger than expected decrease came after existing home sales surged up to their highest rate in almost ten years in the previous month.

Traders are likely to keep an eye on Capitol Hill on Thursday, as the House is expected vote on the Republican healthcare bill.

Reports on weekly jobless claims and new home sales may also attract attention along with remarks by Federal Reserve Chair Janet Yellen and Minneapolis Fed President Neel Kashkari.

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

The post Treasuries Extend Upward Trend Ahead Of Obamacare Repeal Vote appeared first on forexnewstoday.net.

Continue Reading

Crude Oil Zig Zags After Inventories Data

Crude oil futures were a bit lower Wednesday, recovering from steep early losses after government data showed gasoline stockpiles continued to fall last week.

The Energy Information Administration reported crude oil futures jumped another 4.5 million barrels, but falling gasoline stockpiles signals imminent demand. Gasoline inventories dropped 2.8 million barrels.

WTI light sweet crude oil for May was down 20 cents, or 0.4%, to settle at $48.04/bbl.

Existing home sales in the U.S. saw a sharp pullback in the month of February, according to a report released by the National Association of Realtors on Wednesday.

NAR said existing home sales tumbled by 3.7 percent to an annual rate of 5.48 million in February after jumping by 3.3 percent to a rate of 5.69 million in January. Economists had expected sales to drop to 5.58 million.

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

The post Crude Oil Zig Zags After Inventories Data appeared first on forexnewstoday.net.

Continue Reading

الذهب يغلق مرتفعا للجلسة الخامسة على التوالي

ارتفعت أسعار الذهب خلال تداولات الأربعاء للجلسة الخامسة على التوالي وسط انخفاض واسع النطاق للدولار مقابل أغلب العملات الرئيسية. وارتفعت العقود الآجلة للذهب تسليم أبريل/نيسان عند التسوية بنسبة 0.3% أو 3.20 دولار إلى 1249.70 دولار للأوقية. في غضون ذلك، انخفض مؤشر الدولار – الذي يقيس أداءه مقابل سلة من العملات الرئيسية – بنسبة 0.2% إلى […]

The post الذهب يغلق مرتفعا للجلسة الخامسة على التوالي appeared first on forexnewstoday.net.

Continue Reading

الصين تطلب من منظمة التجارة العالمية مراجعة بعض الممارسات التجارية الأوروبية

طلبت الصين من منظمة التجارة العالمية تشكيل فريق خبراء لدراسة ما يسمى بنهج “البلد البديل” الذي يستخدمه الاتحاد الأوروبي في حساب إجراءات مكافحة الإغراق التي يطبقها على الصادرات الصينية. وعندما انضمت الصين إلى منظمة التجارة العالمية في عام 2001، كتب في شروط انضمامها أنها ستتحول تلقائيا إلى وضع اقتصاد السوق حينما ينتهي العمل بممارسة “البلد […]

The post الصين تطلب من منظمة التجارة العالمية مراجعة بعض الممارسات التجارية الأوروبية appeared first on forexnewstoday.net.

Continue Reading

الأسهم الأوروبية تغلق الجلسة على انخفاض

تراجعت مؤشرات الأسهم الأوروبية خلال تداولات الأربعاء متأثرة بمخاوف المستثمرين من مدى تنفيذ الرئيس الأمريكي “دونالد ترامب” لتعهداته بشأن السياسة المالية.   وفي نهاية التداولات، تراجع مؤشر “ستوكس يوروب 600” القياسي بنسبة 0.4% أو 1.6 نقطة إلى 374 نقطة.   وانخفض أيضا مؤشر “فوتسي 100” البريطاني (- 53 نقطة) إلى 7324 نقطة، كما انخفض مؤشر […]

The post الأسهم الأوروبية تغلق الجلسة على انخفاض appeared first on forexnewstoday.net.

Continue Reading

Dollar Falling Against Yen As Investors Turn More Risk Averse

The dollar is little changed against its major European rivals Wednesday afternoon, following yesterday’s slide. However, the buck is weakening in comparison to the Japanese Yen as geopolitical concerns and uncertainty over the implementation of President Trump’s policy agenda has made investors more risk averse.

Investors remain concerned about the fate of the Republican plan to repeal and replace Obamacare ahead of an anticipated vote on Thursday. Trump has suggested the GOP cannot move forward with tax reform plans until lawmakers keep the promise to repeal and replace Obamacare.

On a light day for economic data, existing home sales in the U.S. saw a sharp pullback in the month of February, according to a report released by the National Association of Realtors on Wednesday.

NAR said existing home sales tumbled by 3.7 percent to an annual rate of 5.48 million in February after jumping by 3.3 percent to a rate of 5.69 million in January. Economists had expected sales to drop to 5.58 million.

The dollar has slipped back to around $1.08 against the Euro Wednesday afternoon, from an early high of $1.0775.

The euro area current account surplus declined to a 15-month low in January, the European Central Bank said Wednesday. The current account surplus fell to EUR 24.1 billion in January from EUR 30.8 billion in December. This was the lowest since October 2015, when the surplus totaled EUR 23.4 billion.

The leading index for France, which measures the future economic activity, increased for the sixth successive month in January, survey figures from the Conference Board showed Tuesday. The Conference Board leading economic index climbed 0.4 percent in January, following a 0.2 percent increase in December.

Britain-based banks that want to shift to anywhere in Europe may get an expedited entry, though with conditions attached, and there will not be any relaxation of standards, European Central Bank Executive Board member and Vice-Chair for Banking Supervision Sabine Lautenschlager said Wednesday.

In the event of a “hard” Brexit, the UK will become a “third country” for the European Union, which means the British banks would lose their European passport and access to the Single Market, Lautenschlager said.

Many of the 40 UK banking groups would have to apply for a banking license in an EU country to regain the passport, which are granted by the ECB. Applying for a banking license in the EU is a lengthy process.

The buck reached a high of $1.2417 against the pound sterling Wednesday, but has since retreated to around $1.2480.

British households’ financial outlook worsened to the weakest level in more than three years in March on sharp inflation expectations, while their financial pressures intensified to the strongest level since late-2014, results of a survey by IHS Markit and financial information provider Ipsos Mori revealed Wednesday.

The seasonally adjusted Household Finance Index, or HFI came in at 43.2 in March, which was one of the weakest readings seen over the past two years.

Members of the Bank of Japan’s monetary policy board stated that the country’s economic recovery is continuing at a moderate pace, minutes from the bank’s meeting on January 30 and 31 revealed on Wednesday.

“Exports had picked up, mainly led by automobile-related exports to advanced economies and IT-related ones to emerging economies in Asia, with the effects of the slowdown in emerging economies diminishing. They would likely continue their pick-up trend for the time being,” the minutes said.

The greenback has tumbled to a 4-month low of Y110.835 against the Japanese Yen this afternoon, from an early high of Y111.769.

Japan posted a merchandise trade surplus of 813.389 billion yen in February, the Ministry of Finance said on Wednesday. That surpassed expectations for 807.2 billion yen following the downwardly revised 1,087.9 billion yen deficit in January.

Japan’s all industry activity recovered in January driven by the construction sector, data from the Ministry of Economy, Trade and Industry showed Wednesday. The all industry activity index rose 0.1 percent in January from December, when it dropped 0.2 percent. Economists had forecast the indicator to remain flat in January.

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

The post Dollar Falling Against Yen As Investors Turn More Risk Averse appeared first on forexnewstoday.net.

Continue Reading

Gold Rises A Fifth Day

Gold futures nudged higher Wednesday, touching its best levels in three weeks amid geopolitical tensions and dovish hints from the U.S. Federal Reserve.

Violence outside the UK parliament in London renewed concerns about anti-EU sentiment and/or Muslim hostilities around the region. House of Commons is on lockdown and top tourist sites are closed after the terrorist incident.

Falling equities have also boosted gold’s appeal of late, although stocks were mixed today in afternoon trading.

April gold settles at $1,249.70/oz, up $3.20, or 0.3%, the fifth straight daily advance.

There was little reaction to some downbeat U.S. economic data.

Existing home sales in the U.S. saw a sharp pullback in the month of February, according to a report released by the National Association of Realtors on Wednesday.

NAR said existing home sales tumbled by 3.7 percent to an annual rate of 5.48 million in February after jumping by 3.3 percent to a rate of 5.69 million in January. Economists had expected sales to drop to 5.58 million.

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

The post Gold Rises A Fifth Day appeared first on forexnewstoday.net.

Continue Reading
1 2 3 902