Forex News from InstaForex

**InstaForex Gertrude** · 06-06-14, 08:23

New Zealand House Prices Continue To Rise In May

House prices in New Zealand continued to rise for the second consecutive month in May while sales volume declined, figures from Quotable Value, QV, showed Friday. The QV Residential Price Movement Index rose 8.2 percent year-over-year in May. The index stood 13.9 percent higher than the previous market peak of 2007. After adjusting for inflation, house prices fell 6.6 percent year-over-year and remained 2.2 percent below the 2007 peak. "Sales volumes around the country are 10 to 15 percent lower than they were this time last year which could be a normal winter seasonal effect but it could also be a precursor to values dropping," said QV National Spokesperson Andrea Rush. "The LVR lending restrictions continue to have an effect in many of the regions with activity significantly slower at the entry level end of the market."

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**InstaForex Gertrude** · 09-06-14, 08:10

Australian Dollar Climbs Against Most Majors

The Australian dollar advanced against most major currencies in early Asian deals on Monday. The aussie hit 95.91 against the yen for the first time since May 14. The aussie that closed Friday's deals at 0.9327 against the greenback and 1.0196 against the loonie rose to 0.9350 and 1.0224, respectively. The aussie edged up to 1.4590 against the euro, compared to last week's closing quote of 1.4606. If the aussie extends gain, it may face resistance around 0.94 against the greenback, 97.4 against the yen, 1.45 against the euro and 1.035 against the loonie.

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**InstaForex Gertrude** · 09-06-14, 08:28

Australian Dollar Climbs Against Most Majors

The Australian dollar advanced against most major currencies in early Asian deals on Monday. The aussie hit 95.91 against the yen for the first time since May 14. The aussie that closed Friday's deals at 0.9327 against the greenback and 1.0196 against the loonie rose to 0.9350 and 1.0224, respectively. The aussie edged up to 1.4590 against the euro, compared to last week's closing quote of 1.4606. If the aussie extends gain, it may face resistance around 0.94 against the greenback, 97.4 against the yen, 1.45 against the euro and 1.035 against the loonie.

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**InstaForex Gertrude** · 10-06-14, 07:50

Philippine Export Growth Weakens Sharply In April

Philippines merchandise export growth weakened considerably in April, defying expectations for a strong increase , preliminary figures from the Philippine Statistical Authority showed Tuesday.

Total exports of the country advanced 0.8 percent year-on-year in April, after a 12.4 percent climb in the previous month, well below economists' forecast for 10.0 percent of growth.

Shipments of electronic products dropped 2.5 percent annually in April. A year ago, exports of this category of goods had risen 12.2 percent. Exports of other manufactured products also declined by 12.2 percent. Meanwhile, exports of processed food and beverages jumped 110.1 percent in April and that of other mineral products by 30.9 percent.

In the first four month period, total merchandise exports expanded 5.4 percent to $ 18.859 billion from $17.894 billion in the same period last year.

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**InstaForex Gertrude** · 11-06-14, 08:56

Yen Advances Against Majors

The Japanese yen strengthened against its major counterparts in Asia on Wednesday. The yen bounced back to 102.29 against the greenback, from an early low of 102.38. The yen climbed to 138.33 against the euro, its strongest since May 30, and a 9-day high of 113.56 against the franc. The yen hit 171.23 against the pound, its strongest since June 2. The next possible upside target level for the yen is seen around 101.5 against the greenback, 170.5 against the pound, 113.00 against the franc and 137.4 against the euro.

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**InstaForex Gertrude** · 12-06-14, 05:44

Australia Unemployment Rate Stable In May

The unemployment rate Australia remained stable for the third consecutive month in May, a report from the Australian Bureau Of Statistics showed Thursday.

The unemployment rate came in at 5.8 percent in May, the same rate as in April and March. Compared to a year ago, the unemployment rate rose 0.3 percentage points in May.

The number of unemployed people rose by 3,200 over the month to 717,100 in May. Out of the total, the number of unemployed looking for full-time work rose 9,000 to 529,700 and for part-time it decreased 5,900 to 187,400.

The number of employed people fell 4,800 over the month to 11,564,600. The number of full-time employees rose 22,200 while number of part-time employees fell 27,000 in May.

However, the participation rate fell to 64.6 in May from 64.7 in April.

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**InstaForex Gertrude** · 13-06-14, 07:51

Yuan Strengthens To 2-month High Against U.S. Dollar

The Yuan strengthened against the U.S. dollar in the Asian session on Friday. Against the greenback, the yuan rose to a 2-month high of 6.2066. At yesterday's close, the yuan was trading at 6.2180. If the yuan extends its gain, it is likely to find resistance around the 6.19 area. The People Bank of China set today's central parity rate for yuan at 6.1503 per dollar, compared to Thursday's reference rate of 6.1516. The central bank sets the reference rate every morning and allows the currency to move upto 2 percent from that level. Traders focus on China's industrial production, retail sales and fixed asset investment data for May due shortly.

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**InstaForex Gertrude** · 16-06-14, 08:41

New Zealand Growth To Accelerate In FY 2015 - NZ Institute For Economic Research

The consensus forecast for New Zealand is optimistic for 2015, data from the New Zealand Institute of Economic Research showed Monday. According to consensus forecasts, economic growth is expected to accelerate to 3.8 percent in the year ending March 2015 from 3.1 percent in the previous year. Broad based growth across household spending, investment and exports is forecast. Economic growth is likely to moderate to 2.8 percent and 2.1 percent in 2016 and 2017, respectively. Residential construction surge is estimated to continue for the upcoming five years and exports are expected to rebound after remaining almost flat in the past year. An improvement in the labour market is forecast, with the unemployment rate likely to fall to an average of 5 percent from the historically high levels of 5.9 percent. Wages are expected to increase, growing 3.1 percent on an average over the upcoming 3 years, and supporting household spending. Consumer price inflation is expected to flatten over the next two years.

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**InstaForex Gertrude** · 17-06-14, 10:29

Yen Declines Against Majors

The Japanese yen lost ground against its key counterparts in Asian deals on Tuesday. The yen fell to 4-day lows of 138.45 against the euro, 113.64 against the franc and 94.02 against the loonie. The yen dropped to 173.13 against the pound and 102.06 against the greenback, compared to yesterday's closing values of 172.88 and 101.82, respectively. If the yen declines further, it may find support around 102.5 against the greenback, 114.00 against the franc, 174.00 against the pound, 139.5 against the euro and 94.7 against the loonie.

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**InstaForex Gertrude** · 19-06-14, 07:53

Canadian Dollar Strengthens To Nearly 3-week High Against U.S. Dollar

The Canadian dollar strengthened against the U.S. dollar in the Asian session on Thursday. Against the greenback, the loonie advanced to nearly a 3-week high of 1.0825. The loonie may test resistance near the 1.07 zone.

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**InstaForex Gertrude** · 23-06-14, 06:09

Japan Manufacturing PMI Rises To 51.1 In May - Markit

An index monitoring the manufacturing sector in Japan came in with a score of 51.1 in May, the latest survey from Markit Economics revealed on Monday - up from 49.9 in April.

That pushes the index into expansionary territory, as a score above 50 signals growth in a sector while a reading below means contraction.

Among the individual components of the survey, the output index rose for the first time in three months to 51.8 - signaling expansion.

New orders also moved into growth, while input prices, stocks of purchases, stocks of finished goods and quantity of purchases continued to expand.

New export orders, employment, backlogs of work and output prices slowed, and supplier delivery times were unchanged.

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**InstaForex Gertrude** · 24-06-14, 06:26

China Leading Index Slows To 0.7% In May - Conference Board

A leading economic index for China continued to expand in May, albeit at a slower pace, the latest survey from the Conference Board revealed on Tuesday.

The group's leading economic index was up 0.7 percent last month to a score of 290.2. That follows 1.0 percent increases in both April and March.

The coincident index was also up 0.7 percent in May, the data showed, with a score of 259.7. That was unchanged from the previous month and down from 1.5 percent in March.

"While the Leading Economic Index for China increased in May, its rate of increase has slowed considerably in recent months. The LEI, and its underlying components, suggest continued weaknesses in China's real economy in the coming months," said Jing Sima, Economist at The Conference Board.

"April's sharp improvement in the real estate sector was short-lived and consumers remain in a pessimistic mood. Moreover, the Coincident Economic Index indicates the rate of current economic activity is substantially lower than last year."

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**InstaForex Gertrude** · 26-06-14, 06:14

Usd/sgd and Usd/myr Dip Overnight

South Asia pairs set to open lower on Thursday as risk/carry rallies in NY

USD/SGD back below 1.25 in a modest affair after topside rejected in Asia

USD/MYR set to open ard 2.2200 after NDFs trade 6.2235-90 o/n

USD/IDR bucks trend - to open ard 12100 after NDFs trade 12150-12155 overnight

Thai trade data (0400GMT) and Spore mfg output (0500GMT) out today

Month end flows less influence on S Asia pairs than seen on N Asia pairs

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**InstaForex Gertrude** · 27-06-14, 06:32

China Industrial Profits Slow In May

Chinese industrial profit rose at a slower rate in May, figures from the National Bureau of Statistics showed Friday.

Total industrial profit rose 8.9 percent on year in May. This follows the 9.6 percent increase in April.

Industrial profit rose 9.8 percent in the period of January to May, a slower rate of increase than the 10 percent rise in the period of January to April.

Year-to-date profit of private enterprises increased most by 12.9 percent in May. This was followed by a 3.4 percent rise in state-owned enterprises and a 0.9 percent uptick in collective enterprises.

However, mining year-to-date profits declined 16.4 percent in May.

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**InstaForex Gertrude** · 30-06-14, 07:51

New Zealand Business Confidence Tumbles In June - ANZ

Business confidence in New Zealand declined sharply in June, the latest survey from ANZ revealed on Monday - falling from 53.5 in May to 42.8 in June.

Analysts suggest that the Reserve Bank of New Zealand's actions to raise interest rates are primarily responsible for the decline.

The activity outlook for June came in with a score of 45.8, down from 51.0 in the previous month.

"Growth signals remain strong and inflation messages are waning: a good mix for keeping the OCR on the low side and the economy on a roll," said ANZ Chief Economist Cameron Bagrie.

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**InstaForex Gertrude** · 01-07-14, 08:37

Japan HSBC/Markit PMI Rebounds In June

Japan manufacturing activity rebounded in June on account of increases in output and new orders, results of a survey by Markit Economics and the Japan Materials Management Association (JMMA) revealed Tuesday. The Markit/JMMA manufacturing purchasing managers' index increased to 51.5 in June, more than the flash estimate of 51.1, from 49.9 in May. This was the first expansion in three months. Manufacturing production and new business increased for the first time since March in June. Meanwhile, new export orders declined, though at a slower pace than in the previous month. Purchasing activity rose for the first time in three months in June. Input costs increased at a stable pace in June while output prices declined, though at a slower rate than in the previous month. Growth in staffing levels was slowest since October 2013. "The implementation of the sales tax in April looks to have had only a temporary effect on Japanese manufacturers." Amy Brownbill, Economist at Markit, said. "Shinzo Abe has been trying to address the employment issue by implementing a number of reforms, which many are calling the"third arrow?. The positive effects, however, of these reforms have not been fully felt."

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**InstaForex Gertrude** · 02-07-14, 08:37

Malaysian Ringgit Rises To More Than 3-week High Against U.S. Dollar

The Malaysian ringgit strengthened against the U.S. dollar in the Asian session on Wednesday. Against the greenback, the ringgit rose to more than a 3-week high of 3.2028. At yesterday's close, the ringgit was trading at 3.2069 against the greenback. If the ringgit extends its uptrend, it is likely to find resistance around the 3.18 area.

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**InstaForex Gertrude** · 03-07-14, 07:50

Japan Service Sector Activity Contracts In June

Japan's service sector activity declined further in June, results of a survey by Markit Economics showed Thursday.

The Markit Japan Services PMI edged down to 49.0 in June from 49.3 in May, signaling contraction for the third consecutive month. The decrease in service sector output was driven by the recent increase in sales tax, the survey showed.

Staffing levels declined for the first time since December 2013 in May. Input costs, which have been on the rise since November 2012, continued to increase and output prices grew for the fifth successive month in May, marking the longest stretch of inflation in survey history for both.

In contrast to the decreasing trend, new orders increased for the first time in three months in May.

Perceptions on business activity for the upcoming year were more positive than in the current year.

The composite output index, a combined measure of manufacturing activity and service sector activity, came in at 50 in May, indicating stagnation. In April, the index posted 49.2.

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**InstaForex Gertrude** · 04-07-14, 07:49

Aud Worst Performing Currency Past 48 Hours Despite Favorable External Factors

Investor risk appetite buoyed by "goldilocks" US payroll report Volatility as measured by the VIX & currencies volatilities at rock bottom historically Copper and iron ore are on a recovery path and China growth fears have receded Normally AUD a main beneficiary from carry trade demand in current environment Australia economic concerns and RBA jawboning trumping positive externals for now Close below 0.9354 would result in bearish outside week from significant high

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**InstaForex Gertrude** · 07-07-14, 07:39

New Zealand House Prices Rise Faster In June

New Zealand house prices rose at a faster rate in June, data from Quotable Value, or QV, showed Monday. Property prices rose 2.1 percent sequentially in the three months ended June following the 0.7 percent increase in the three months ended May. Current house prices were 15 percent above the previous market peak of late 2007. Meanwhile, house prices rose at a slower rate of 8 percent year-over-year in June after the 8.2 percent growth in May. "The nationwide index is still increasing but the picture around the country is mixed." Andrea Rush, QV National Spokesperson, said. "Residential property values in Auckland and Christchurch are still increasing at a similar rate to what they were in June last year. While values in Wellington and Dunedin are showing a downward trend this month, as are a number of other provincial centres around the country." "Sales volumes and home loan approvals (new and existing) are also down considerably at between 15-20% less than at this time last year." She added.

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