Thread: Forex News from InstaForex

SINGAPORE INDUSTRIAL OUTPUT FALLS 2.1%, LESS THAN FORECAST



Singapore's industrial production continued to decline in September, though the pace of decrease has eased considerably since August, data from the Economic Development Board revealed on Thursday.

Industrial production dropped 2.1 percent year-on-year in September, following an 11.6 percent plunge in the prior month. That was also below the 4.8 percent decrease expected by economists. Production has been falling since October last year.

Excluding bio-medical manufacturing, industrial production rebounded 0.1 percent annually in September after a 12.7 percent slump in the previous month.

On a monthly basis, industrial production surged 10.7 percent in September, reversing a sharp 10.8 percent fall in August.

Among major clusters, production in the biomedical manufacturing industries fell the most, by 18.9 percent in September, as the pharmaceutical segment contracted 41.4 percent from last year.

The second-most significant decrease was observed in the chemicals cluster, which declined 12.9 percent.

At the same time, electronics output registered a double-digit annual growth of 10.2 percent, and that of the transport engineering segment posted an increase of 13.2 percent.

News are provided by
InstaForex.


Read More

EUROPEAN ECONOMIC NEWS PREVIEW: FRANCE CONSUMER CONFIDENCE DATA DUE



Consumer sentiment survey data from France and business confidence from Italy are the major economic data due on Friday.

At 2.00 am ET, retail sales figures are due from Norway and Sweden.

At 2.45 am ET, France's statistical office INSEE publishes consumer confidence survey results for October. The consumer sentiment index is seen unchanged at 83.0.

At 3.00 am ET, Spain's INE is set to issue advance GDP estimates for the third quarter and retail sales for September. The economy is forecast to grow at a slower pace of 0.2 percent sequentially in the third quarter after rising 0.5 percent in the second quarter.

At 4.00 am ET, Italy's statistical office ISTAT releases business and consumer sentiment survey results. The business confidence index is seen at 96.0 in October, down from 96.4 in the previous month.

In the meantime, manufacturing Purchasing Managers' survey results are due from Austria.

At 6.30 am ET, Russia's central bank announces its monetary policy decision. The bank is set to raise its benchmark rate by 100 basis points to 14.00 percent.

News are provided by
InstaForex.

Read More

AUSTRALIA RETAIL SALES JUMP 0.9% IN SEPTEMBER



The value of retail sales in Australia was up a seasonally adjusted 0.9 percent on month in September, the Australian Bureau of Statistics said on Monday - coming in at A$35.874 billion.

That blew away forecasts for an increase of 0.3 percent and was up sharply from the upwardly revised 0.3 percent in August (originally 0.2 percent).

Individually, sales rose for food, household goods, clothing, department store items, and other retail; sales were flat for cafes and restaurants.

On a yearly basis, retail sales rose 2.0 percent.

News are provided by
InstaForex.

Read More

YEN FALLS AFTER BOJ RATE DECISION



At 11:28 pm ET in the early Asian session on Tuesday, the Bank of Japan announced its decision on interest rates to remain unchanged at -0.10 percent.

After the BoJ rate decision, the yen fell against its major rivals.

As of 11:30 pm ET, the yen was trading at 159.05 against the euro, 182.23 against the pound, 166.26 against the Swiss franc and 150.09 against the U.S. dollar.

News are provided by
InstaForex.

Read More

NZ DOLLAR FALLS AGAINST MAJORS



The New Zealand dollar weakened against other major currencies in the Asian session on Wednesday.

The NZ dollar fell to 6-day lows of 0.5789 against the U.S. dollar and 1.8256 against the euro, from yesterday's closing quotes of 0.5825 and 1.8153, respectively.

Against the Australian dollar, the kiwi dropped to a 2-day low of 1.0922 from Tuesday's closing value of 1.0875.

The kiwi edged down to 87.56 against the yen, from yesterday's closing value of 88.35.

If the kiwi extends its downtrend, it is likely to find support around 0.56 against the greenback, 1.83 against the euro, 1.10 against the aussie and 86.00 against the yen.

News are provided by
InstaForex.

Read More

AUSTRALIAN DOLLAR RISES AGAINST MAJORS



The Australian dollar strengthened against other major currencies in the Asian session on Thursday.

The Australian dollar rose to nearly a 5-week high of 96.77 against the yen, from an early low of 96.61.

Against the U.S. dollar and the euro, the aussie advanced to more than 3-week highs of 0.6439 and 1.6456 from yesterday's closing quotes of 0.6422 and 1.6484, respectively.

The aussie appreciated to more than a 3-month high of 0.8906 against the Canadian dollar, from yesterday's closing value of 0.8884.

The aussie edged up to 1.0935 against the NZ dollar, from Wednesday's closing value of 1.0924.

If the aussie extends its uptrend, it is likely to find resistance around 98.00 against the yen, 0.65 against the greenback, 1.63 against the euro, 0.90 against the loonie and 1.10 against the kiwi.

News are provided by
InstaForex.

Read More

MALAYSIAN RINGGIT RISES TO MORE THAN 2-WEEK HIGH AGAINST U.S. DOLLAR



The Malaysian ringgit strengthened against the U.S. dollar in the Asian session on Friday. Against the greenback, the ringgit rose to more than a 2-week high of 4.7360 from yesterday's closing value of 4.7500.

If the ringgit extends its uptrend, it is likely to find resistance around the 4.70 area.

News are provided by
InstaForex.

Read More

YEN FALLS AGAINST MAJORS



The Japanese yen weakened against other major currencies in the Asian session on Monday.

The yen fell to a 2-month low of 185.21 against the pound, from Friday's closing value of 184.86.

Against the euro and the Swiss fran, the yen slipped to 6-day lows of 160.68 and 166.76 from last week's closing quotes of 160.26 and 166.11, respectively.

The yen edged down to 149.68 against the U.S. dollar, from Friday's closing value of 149.37.

Against the Australia, the New Zealand and the Canadian dollars, the yen slipped to nearly a 5-month low of 97.51, nearly a 4-week low of 89.70 and nearly a 3-week low of 109.66 from last week's closing quotes of 97.27, 89.58 and 109.35, respectively.

If the yen extends its downtrend, it is likely to find support around 186.00 against the pound, 162.00 against the euro, 169.00 against the franc, 152.00 against the greenback, 98.00 against the aussie, 91.00 against the kiwi and 111.00 against the loonie.

News are provided by
InstaForex.

Read More

AUSTRALIA RAISES KEY INTEREST RATE BY 25 BPS



Australia's central bank raised its benchmark rate by a quarter-point on Tuesday after holding the rate for four straight meetings. The policy board of the Reserve Bank of Australia headed by Michele Bullock decided to lift the cash rate target by 25 basis points to 4.35 percent.

The bank also increased the interest rate paid on Exchange Settlement balances by 25 basis points to 4.25 percent.

The bank had held interest rates steady since June following an increase of 4 percentage points since May last year.

"The Board judged an increase in interest rates was warranted today to be more assured that inflation would return to target in a reasonable timeframe," Bullock said.

Although inflation has passed its peak, it is still too high and is proving more persistent than expected a few months ago, the bank noted. Inflation is forecast to be around 3.5 percent by the end of 2024 and at the top of the target range of 2-3 percent by the end of 2025.

News are provided by
InstaForex.

Read More

CHINESE YUAN RISES TO NEAR 2-MONTH HIGH AGAINST U.S. DOLLAR



The Chinese yuan strengthened against the U.S. dollar in the Asian session on Wednesday.

Against the greenback, the yuan rose to nearly a 2-month high of 7.2658 from a recent low of 7.2783. At yesterday's close, the yuan was trading at 7.2733 against the greenback.

If the yuan extends its uptrend, it is likely to find resistance around the 7.24 area.

The Chinese central bank sets central parity rate every morning and allows the yuan to fluctuate up to 2 percent from that level.

News are provided by
InstaForex.

Read More