-
Japan Manufacturing PMI Sinks Into Contraction - Nikkei
The manufacturing sector in Japan fell into contraction in May, the latest survey from Nikkei revealed on Thursday in its preliminary report - posting a manufacturing PMI score of 49.6.
That's down from 50.2 in April and it falls beneath the boom-or-bust line if 50 that separates expansion from contraction.
Individually, output and new orders fell for the fifth straight month, while the business outlook reflected pessimism for the first time more than six years.
New export orders, backlogs, stocks and quantities of purchases also were in contraction.
News are provided by InstaForex
-
China Industrial Profits Decline In April
China's industrial profits decreased in April, data from the National Bureau of Statistics showed Monday.
In April, profits of large industrial firms declined 3.7 percent on year in contrast to an increase of 13.9 percent growth in March.
Industrial profits fell 3.4 percent in the first four months of 2019 from the same period of last year compared to a decrease of 3.3 percent in three months to March.
Zhu Hong of the statistics bureau said the decline in profits in April was driven by the timing of Value Added Tax cut.
News are provided by InstaForex
-
UK Shop Price Inflation Accelerates In May
UK shop price inflation increased notably in May on non-food prices, the British Retail Consortium reported Wednesday. Shop prices inflation doubled to 0.8 percent in May from 0.4 percent in April.
Food prices climbed 1.8 percent annually and non-food prices gained 0.2 percent. Food inflation continued to slow but it remained above the 12-month average. At the same time, non-food categories such as furniture and health and beauty follow years of deep discounting.
Shop price growth in May was the second highest inflation rate seen in the last six years, though it remains well below headline inflation, Helen Dickinson, chief executive at BRC said.
News are provided by InstaForex
-
China Manufacturing PMI Falls Into Contraction
The manufacturing sector in China turned to contraction in May, the National Bureau of Statistics said on Friday with a manufacturing PMI score of 49.4.
That was shy of expectations for 49.9 and down from 50.1 in April. It also fell below the boom-or-bust line of 50 that separates expansion from contraction.
The non-manufacturing PMI came in at 54.3 - unchanged from the previous month and in line with expectations.
The composite index had a score of 53.3, down fractionally from 53.4 a month earlier.
News are provided by InstaForex
-
Myanmar Manufacturing Sector Accelerates In May - Nikkei
The manufacturing sector in Myanmar continued to contract in May, and at a faster rate, the latest survey from Nikkei revealed on Monday with a manufacturing PMI score of 54.2.
That's up from 53.7 in April, and it moves farther above the boom-or-bust line of 50 that separates expansion from contraction.
Individually, operating conditions improved at a solid rate, while there was faster growth in output and new orders. Employment expansion was the quickest in series history.
At the same time, input costs increased further in May, with the rate of inflation picking up to a six-month high
News are provided by InstaForex
-
South Korea Inflation Rises 0.2% In May
Consumer prices in South Korea were up 0.2 percent on month in May, Statistics Korea said on Tuesday - following the 0.2 percent decline in April.
On a yearly basis, inflation advanced 0.7 percent - accelerating from 0.4 percent in the previous month.
Core CPI - which excludes volatile food prices - sank 0.2 percent on month and added0.6 percent on year.
News are provided by InstaForex
-
New Zealand Q1 Volume Of Building Soars 6.2%
The overall volume of building in New Zealand climbed a seasonally adjusted 6.2 percent on quarter in the first three months of 2019, Statistics New Zealand said on Friday.
That beat forecasts for an increase of 1.1 percent and was up sharply from the upwardly revised 3.4 percent gain in the three months prior (originally 2.7 percent).
Non-residential building volume rose a seasonally adjusted 9.0 percent, the bureau said, while residential building volume rose a seasonally adjusted 4.3 percent.
The actual value of total building work was NZ$6.1 billion in the March 2019 quarter - up 16 percent from the March 2018 quarter.
By region, the actual value of total building work in the March 2019 quarter (compared with the March 2018 quarter) was: NZ$2.5 billion in Auckland - up 26 percent; NZ$595 million in Waikato - up 30 percent; NZ$474 million in Wellington - up 1.5 percent; NZ$950 million in rest of North Island - up 13 percent; NZ$931 million in Canterbury - down 1.0 percent; and NZ$618 million in rest of South Island - up 12 percent. In the year ended March 2019, the national value of residential building work rose NZ$1.1 billion (7.9 percent) when compared with the previous March year - driven by an NZ$861 million (16 percent) increase in Auckland.
In the year ended March 2019, the national value of non-residential building work rose NZ$923 million (12 percent) when compared with the previous year - driven by a NZ$672 million (25 percent) increase in Auckland.
The non-residential building types with most growth in the year ended March 2019 (compared with the March 2018 year) were: shops, restaurants, and bars (shops) - up NZ$337 million (41 percent) nationally; hotels, motels, boarding houses, and prisons (accommodation) - up NZ$248 million (40 percent) nationally; and storage buildings - up NZ$199 million (26 percent) nationally.
News are provided by InstaForex
-
Australia Jobless Rate Steady At 5.2% In May
The unemployment rate in Australia came in at a seasonally adjusted 5.2 percent in May, the Australian Bureau of Statistics said on Thursday - unchanged from the April reading but missing forecasts for 5.1 percent.
The Australian economy added 42,300 jobs last month - blowing past expectations for an increase of 16,000 following the increase of 28,400 in the previous month.
The participation rate was 66.0 percent, surpassing forecasts for 65.8 percent and up from the upwardly 65.9 percent a month earlier (originally 65.8 percent).
News are provided by InstaForex
-
New Zealand Manufacturing Growth Near Stagnation
New Zealand manufacturing sector was close to stagnation in May, the latest BNZ survey showed Friday.
The BNZ-BusinessNZ Performance of Manufacturing Index fell 2.5 points to 50.2 in May. This was the lowest score since December 2012.
The production sub-index declined to 46.4 in May from 50.1 a month ago. This was the lowest since April 2012. A score below 50 indicates contraction in the sector.
As a growth risk indicator it may not be flashing bright red just yet, but it is moving in that direction in taking on a darker shade of amber, Doug Steel, a senior economist at BNZ Research said.
The PMI sends a warning signal for near term growth via its mix of falling production, near flat new orders, and rising inventory, Steel added. Next week's first quarter GDP should be reasonable, but beyond this downside risks are accumulating.
News are provided by InstaForex
-
BCC Trims UK Growth Outlook
The British Chambers of Commerce downgraded its growth outlook for next year as unwinding of historically-high inventory levels amid weak business investment weigh on economic activity.
In the latest economic forecast, released Monday, the growth projection for 2020 was lowered to 1 percent from 1.3 percent and that for 2021 to 1.2 percent from 1.4 percent.
However, the growth outlook for 2019 was lifted marginally to 1.3 percent from 1.2 percent, citing the exceptionally rapid stock-building ahead of the original Brexit deadline in March.
Gross domestic product was forecast to remain flat in the second quarter of 2019 after expanding 0.5 percent in the first quarter.
Over the near-term, the lobby expect that the ongoing Brexit impasse, together with the high upfront cost of doing business in the UK and the running down of excess stock to suffocate investment activity.
Business investment was expected to decline 1.3 percent this year versus prior forecast of 1 percent drop. Further, the lobby projected 0.4 percent growth next year, before improving to 1.1 percent in 2021.
Further, trade was set to make a negative contribution as exchange rate volatility, Brexit uncertainty and a subdued global economy, weaken trading conditions for British exporters.
Export growth was seen at 1.6 percent this year and next and 1.7 percent in 2021, compared to import growth of 4.3 percent in 2019, 1.8 percent in 2020 and 2.2 percent in 2021.
Nonetheless, consumer spending was forecast to remain resilient on low unemployment and earnings growth to stay above inflation. Household consumption growth outlook was lifted to 1.4 percent for 2019 and to 1.4 percent in 2020.
The forecast was based on the assumption that the UK avoids a messy and disorderly Brexit.
"Businesses are putting resources into contingency plans, such as stockpiling, rather than investing in ventures that would positively contribute to long-term economic growth," Adam Marshall, Director General of the BCC, said. "This is simply not sustainable."
Business communities expect the next Prime Minister to quickly find a sensible and pragmatic way forward to avoid a messy and disorderly Brexit, Marshall added.
News are provided by InstaForex
-
New Zealand Consumer Confidence Drops In Q
New Zealand's consumer sentiment weakened slightly in the second quarter as households remained downbeat about the economic backdrop, survey data from Westpac showed Tuesday.
The Westpac McDermott Miller consumer confidence index dropped 0.3 points to 103.5 in June.
Among sub-components, the indicator for present situation fell to 106.6 from 107.6 a quarter ago. Meanwhile, the expected conditions index rose marginally to 101.4 from 101.3.
The index measuring current financial situation improved to -4.7 in the second quarter from -8.3. Likewise, the expected financial situation indicator climbed to -3.2 from -6.5.
The 1-year ahead economic outlook rose slightly to -4.6 from -5.1. At the same time, the 5-year economic outlook dropped to 11.9 from 15.4 in the previous quarter.
The 'good time to buy' index declined to 17.9 in the second quarter from 23.4 in the preceding period.
News are provided by InstaForex
-
Japan May Trade Deficit Y967.1 Billion
Japan posted a merchandise trade deficit of 967.1 billion yen in May, the Ministry of Finance said on Wednesday - up 67.5 percent on year.
That exceeded expectations for a shortfall of 1,207.0 billion yen following the 110.9 billion yen deficit in April.
Exports were down 7.8 percent on year to 5.835 trillion yen, also beating forecasts for a drop of 8.4 percent following the 2.4 percent decline in the previous month.
Exports to Asia were down 12.1 percent on year to 3.120 trillion yen, while exports to China alone fell 9.7 percent to 1.148 trillion yen.
Exports to the United States rose an annual 3.3 percent, while exports to the European Union sank 7.1 percent to 647.475 billion yen.
Imports sank an annual 1.5 percent to 6.802 trillion yen versus expectations for an increase of 1.0 percent after soaring 6.5 percent a month earlier.
Imports from Asia fell 3.3 percent on year to 3.100 trillion yen, while imports from China alone eased 0.9 percent to 1.540 trillion yen.
Imports from the United States dipped an annual 1.6 percent to 792.795 billion yen, while imports from the European Union climbed 8.7 percent to 898.979 billion yen.
News are provided by InstaForex
-
New Zealand GDP Expands 0.6% On Quarter In Q1
New Zealand's gross domestic product grew a seasonally adjusted 0.6 percent on quarter in the first three months of 2019, Statistics New Zealand said on Thursday - matching forecasts and unchanged from the previous quarter.
On an annualized yearly basis, GDP was up 2.5 percent - exceeding forecasts for an increase of 2.3 percent, which would have been unchanged.
Activity in the goods-producing industries rose 2.0 percent in the March 2019 quarter. The growth was mainly driven by increased activity in the construction industry (up 3.7 percent), its largest increase since the September 2017 quarter. The rise in construction was reflected in investment in non-residential building (up 9.9 percent) and residential buildings (up 2.7 percent).
Manufacturing activity rose 1.4 percent in the March 2019 quarter, after a 0.4 percent decline in the December 2018 quarter. Increased food, beverage, and tobacco manufacturing contributed strongly to the rise this quarter. There were also increases in metal product manufacturing; non-metallic mineral manufacturing; and petroleum, chemical, polymer, and rubber product manufacturing.
Activity in the service industries rose 0.2 percent in the March 2019 quarter, the slowest growth rate since the September 2012 quarter. Of the 11 service industries, seven recorded growth.
The main drivers of this quarter's growth were health care and social assistance (up 1.7 percent) and transport, postal, and warehousing (up 1.2 percent). Retail, accommodation, and restaurants fell 0.5 percent. Lower activity in accommodation and restaurants reflected a dip in visitor arrivals to New Zealand in February and March.
Agriculture, forestry, and fishing production fell 2.3 percent in the March 2019 quarter, after a 0.3 percent fall in the December 2018 quarter. The fall in the latest quarter was due to unfavorable weather conditions. Agriculture (down 2.3 percent), forestry and logging (down 1.2 percent), and fishing (down 0.4 percent) all declined. This was offset by a rise in mining (up 9.6 percent), due to higher exploration activity along with an increase in oil and gas extraction.
Household spending grew 0.5 percent in the March 2019 quarter, after a 1.0 percent rise in the December 2018 quarter. Growth was subdued this quarter due to lower spending on services (up 0.3 percent). This was the weakest growth in services expenditure since the December 2014 quarter. Spending on durable and non-durable goods increased 1.4 percent and 0.4 percent, respectively.
Investment in fixed assets was up 2.4 percent in the March 2019 quarter. Higher construction activity was reflected in higher construction-related investment expenditure. Business investment (all investment less residential buildings) rose 1.9 percent.
News are provided by InstaForex
-
European Economics Preview: Eurozone Flash PMI Data Due
Flash Purchasing Managers' survey from euro area and public sector finance from the UK are due on Friday, headlining a light day for the European economic news.
At 3.15 am ET, IHS Markit releases France's flash composite PMI data. Economists forecast the index to rise marginally to 51.3 in June from 51.2 in May. At 3.30 am ET, Germany's composite PMI data is due. The composite index is seen at 52.5 in June versus 52.6 a month ago.
At 4.00 am ET, IHS Markit is slated to release PMI survey results for euro area. The composite PMI is forecast to rise to 52.0 in June from 51.8 in May.
In the meantime, industrial output and producer price reports are due from Poland. Industrial production is seen rising 7.5 percent annually in May, following a 9.2 percent rise in April. Producer price inflation is expected to ease to 1.6 percent in May from 2.6 percent a month ago.
At 4.30 am ET, the Office for National Statistics releases UK public sector finance data. The budget deficit is expected to narrow to GBP 4.1 billion in May from GBP 5.8 billion in April.
News are provided by InstaForex
-
China's Private Sector Expands Marginally In June
China's private sector expanded marginally in June despite contraction in manufacturing, survey data from IHS Markit showed Wednesday.
The Caixin composite output index fell to 50.6 in June from 51.5 in May. However, a score above 50 indicates expansion. The reading signaled the weakest growth since last October.
The services Purchasing Managers' Index dropped more-than-expected to 52.0 in June from 52.7 in the previous month. The expected reading was 52.6.
"The conflict between China and the U.S. impacted business confidence rather heavily," Zhengsheng Zhong, director of macroeconomic analysis at CEBM Group said. "Although its impact on exports hasn't been fully reflected in the short-run, the longerterm situation doesn't look optimistic. Future government policies to stabilize economic growth are likely to focus on new types of infrastructure, consumption and high-quality manufacturing."
News are provided by InstaForex
-
Philippines Inflation Lowest Since 2017
https://forex-images.ifxdb.com/analy...nflation/4.jpg
Philippines inflation reached its lowest level in nearly two years in June, the Philippine Statistics Authority showed Friday.
Consumer price inflation eased to 2.7 percent from 3.2 percent in May. In the same period last year, the rate was 5.2 percent. Inflation was forecast to slow moderately to 2.8 percent.
The June inflation was the weakest since September 2017.
Excluding selected food and energy items, core inflation came in at 3.3 percent in June versus 3.5 percent a month ago.
Food prices advanced at a slower pace of 2.6 percent annually and education cost declined 4.5 percent. Meanwhile, higher rate were registered in the indices of health, recreation and culture, by 3.7 percent and 3.2 percent, respectively.
News are provided by
InstaForex.
-
CBI Urges Next UK PM To Act Fast To Get Economy Back On Track
https://forex-images.ifxdb.com/analy...view/gbp/3.jpg
The next UK Prime Minister should restore confidence and take action to bring the economy back on track, the Confederation of British Industry said in its Business Manifesto published Monday. Carolyn Fairbairn, the CBI's Director General called for a clear direction for the UK and to build a long-term vision that drives in investment and back business as a foundation of a growing, inclusive economy.
Brexit has stalled progress on the UK economy for three years. A Brexit deal remains a top priority for business, but a broader vision is needed, the lobby noted.
"Early signals matter. The UK is a fantastic place to do business but we must be honest - the reputation of our country has taken a dent in recent times," Fairbairn said.
"Our new Prime Minister has a real chance to inject a new lease of life into the UK economy and show the world we are open for investment."
The manifesto also called for fast action to show world that the UK remains a trusted place to do business and to build a compelling economic vision for the UK of the future.
News are provided by
InstaForex.
-
JPMorgan predicts the decline of the dollar era
The position of the greenback in the foreseeable future may falter, and it even runs the risk of losing the status of the main global reserve currency, analysts at JPMorgan Chase warn.
"The dollar has been the main global reserve currency for almost 100 years. During this time, many investors, including those outside the United States, have become accustomed to the fact that dollar assets occupy a "higher than market" share in their portfolios. However, we believe that the US currency may lose its unique status due to structural and cyclical reasons, which will lead to a decline in its rate," representatives of the financial institute said.
"After the end of World War II, the United States became the largest global economy, accounting for a quarter of global GDP. If we add the countries of Western Europe, then this value will increase to 40%. Since then, fast-growing Asia, in the heart of which China is located, has consistently won back the share of the world market from the West, "they added.
According to experts, as the Asian region develops, the share of transactions in currencies other than the dollar will inevitably grow.
"In addition, the current US administration has questioned agreements with all major US trading partners - from Mexico and Canada to China and the EU, and also left the Trans-Pacific Partnership. Such unfriendly actions on the part of Washington can induce these states to reduce the share of the dollar in trade calculations," noted JPMorgan experts.
They believe that the permanent fiscal and trade deficits of the United States can trigger a decline in the dollar against a basket of currencies and gold, and advise investors to diversify their portfolios so that they prefer other currencies in developed markets and in Asia, as well as precious metals.
However, according to analysts, selling the dollar immediately is also not worth it, because shifts in preferences in financial markets take a very long time, so those who are counting on a quick weakening of the US currency should have extraordinary patience.
News are provided by InstaForex
-
Japan Industrial Production Slides 3.6% In June
https://forex-images.ifxdb.com/analy...oduction/3.jpg
Industrial output in Japan was down a seasonally adjusted 3.6 percent on month in June, the Ministry of Economy, Trade and Industry said in Tuesday's preliminary reading.
That missed forecasts for a decline of 1.8 percent following the 2.0 percent gain in May.
On a yearly basis, industrial production sank 4.1 percent - again missing expectations for a drop of 2.0 percent after sliding 2.1 percent in the previous month.
Upon the release of the data, the METI maintained its assessment of industrial production, saying that it continues to fluctuate indecisively.
News are provided by
InstaForex.
-
Philippines Manufacturing Sector Picks Up Steam In July - Market
https://forex-images.ifxdb.com/analy...k_market/5.jpg
The manufacturing sector in the Philippines continued to expand in July, and at a faster rate, the latest survey from Markit Economics revealed on Thursday with a manufacturing PMI score of 52.1.
That's up from 51.3 in June, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.
Individually, new order growth was at its strongest in six months, while employment rose for the first time since February.
Output price inflation was at a two-year low.
With output and sales growth remaining strong, businesses remained optimistic regarding future activity.
News are provided by
InstaForex.
-
China's Industrial Output, Retail Sales Growth Slows
China's industrial production and retail sales grew at weaker pace in July, data from the National Bureau of Statistics showed Wednesday.
Industrial output growth eased to 4.8 percent in July from 6.3 percent in June. Output was forecast to expand 6 percent.
Likewise, growth in retail sales slowed to 7.6 percent from 9.8 percent a month ago. This was the weakest growth in three months. The expected pace of growth was 8.6 percent.
During January to July period, fixed asset investment logged an annual growth of 5.7 percent compared to 5.8 percent increase in January to June. The rate was forecast to remain unchanged at 5.8 percent.
News are provided by InstaForex
-
Australia Unemployment Rate Unchanged At 5.2% In July
The unemployment rate in Australia came in at a seasonally adjusted 5,2 percent in July, the Australian Bureau of Statistics said on Thursday - unchanged from the previous month and in line with expectations.
The Australian economy added 41,100 jobs last month, far surpassing expectations for a gain of 14,000 jobs following the increase of 500 jobs in June.
The participation rate was 66.1 percent, exceeding estimates for 66.0 - which would have been unchanged from the previous month.
Unemployment increased 800 to 712,900 persons.
News are provided by InstaForex
-
Japan Has Y249.6 Billion Trade Deficit In July
Japan posted a merchandise trade deficit of 249.6 billion yen in July, the Ministry of Finance said on Monday.
That missed expectations for a shortfall of 194.5 billion yen following the 589.5 billion yen deficit in June.
Exports were down 1.6 percent on year, topping forecasts for a decline of 2.3 percent following the upwardly revised 6.6 percent drop in the previous month (originally -6.7 percent).
Imports dipped an annual 1.2 percent versus forecasts for a decline of 2.3 percent following the 5.2 percent fall a month earlier.
News are provided by InstaForex
-
European Economics Preview: Eurozone Final PMI Data Due
Final Purchasing Managers' survey data from euro area is due on Monday, headlining a busy day for the European economic news.
At 3.00 am ET, Purchasing Managers' survey results are due from Norway, Poland and Turkey. Poland's factory PMI is forecast to rise to 47.7 in August from 47.4 in July.
In the meantime, Turkey's GDP data is due. The economy is forecast to contract 2 percent on year in the second quarter, following a 2.6 percent fall in the first quarter.
At 3.45 am ET, IHS Markit is scheduled to issue Italy's manufacturing PMI data. The PMI is expected to rise slightly to 48.6 in August from 48.5 in July.
Thereafter, final PMI figures are due from France and Germany at 3.50 am and 3.55 am ET, respectively.
At 4.00 am ET, IHS Markit is set to release euro area factory PMI data. The final reading is forecast to match the flash estimate of 47.0 in August.
Half an hour later, UK Markit/CIPS manufacturing PMI figures are due. The PMI is seen at 48.8 in August versus 48.0 in July.
At 5.00 am ET, Italy's Istat releases July retail sales data. Sales had increased 1.9 percent on month in June.
News are provided by InstaForex
-
EUR/USD: if there is a rebound, it will be short-lived, the decline will continue
After a slight rebound, the EUR/USD pair may resume falling, as the trend is still in a downward direction. Resistance is expected at a psychologically significant level of 1.1000, followed by 1.1027, then 1.050, at which EUR/USD held in mid-August. A potential rebound, if any, will be temporary. Although the situation in the German political arena encourages the euro's growth, Italy has not yet formed a government, and in Germany, the key parties have agreed only on fundamental principles and still need to agree on many details. Moreover, the economic situation in the eurozone remains alarming. Markit purchasing managers' final indices for the manufacturing sector show that prospects remain bleak.
How low can the euro go? This question after the Friday crash worries many traders. Most likely, the market will see a temporary recovery. The chancellor of the ruling CDU party, Angela Merkel, won the local elections in Saxony. In other regions, fears of the victory of extremists from the Alternative German State (AfD) also did not materialize. These results will help stabilize the shaky coalition and strengthen the role of Merkel as a guarantor of stability on the continent. There is another reason for the rebound. US President Donald Trump, although he introduced new duties, recalled that high-level talks should be held at the end of this month in Washington. Until recently, the relative lull in the trade war stimulated the growth of the dollar, now the dollar will experience downward pressure. In addition, the escalation of the trade war means better prospects for German manufacturers, which depend on exports to China.
News are provided by InstaForex
-
Ireland Services Activity Growth Weakest Since January
https://forex-images.ifxdb.com/analy.../ireland/2.jpg
Ireland's services activity grew at the slowest pace since January on weak new orders and employment, survey results from IHS Markit showed Wednesday.
The AIB services Purchasing Managers' Index fell to 54.6 in August from 55.0 in July. The score signaled the slowest rise since January. However, a reading above 50 indicates expansion in the sector.
Inflows of overall new business expanded at the slowest pace in four months, amid reports from some firms of Brexit uncertainty negatively affecting orders from the UK.
Irish service providers recorded the weakest payroll expansion since May 2013. On the price front, data showed that while the rate of input cost inflation eased, companies increased their output charges at a faster pace in August.
Meanwhile, sentiment towards activity over the coming year dropped to the lowest since December 2011 as Brexit weighed on optimism.
The composite output index held steady at 51.8 in August despite the manufacturing sector continued to contract.
-
Golden cosmos
Good evening, dear traders. As promised, here's the evening forecast for gold. Sorry, was not able to publish it in the morning, because it has already started to work.
The trade wars drove gold to an incredible $ 1,550 per troy ounce. This is the largest gold trend. for many years! Over the past year, gold has passed a record of 36,000p and continues to storm the high, knocking out the stops of medium-term sellers. And just yesterday, according to perhaps the most effective Price Action trading strategy, a pattern called "daily absorption in the trend" has appeared - which speaks of an ongoing trend and after which it is recommended to buy. Today, to the American session, there was a magnificent rollback, allowing you to go into longs at the best price.
On the other hand, sellers who have been selling gold from highs for two weeks now have to hide their risks only for one single extreme - this year's high - quotation 1554. Although, gold has not yet risen above. This is a trap that will be slammed in the near future and trap sellers.
I propose to take a closer look from the rollbacks to the longs - with a take on updating 1554 and higher. Often breakdowns of weekly extremes for gold are very volatile - and give a positive slippage, on which you can earn good profit. This is the first part of the plan.
The second part is for those traders who are buying in a large amount (scalpers). The idea is very simple and is to work after the breakdown of 1554, which for example to 1560-1570, and then to return to the broken level of 1554. This is an old scalping technique in the overbought market to work on the consolidations of large buyers after the breakdown of key extremes. It is due to this that the price decline to a broken level, which becomes support.
Be that as it may, you can earn in both cases.
I wish you success in trading and follow the policy of money management!
News are provided by InstaForex
-
Japan Core Machine Orders Sink 6.6% In July
Core machine orders in Japan were down a seasonally adjusted 6.6 percent on month in July, the Cabinet Office said on Thursday - coming in at 896.9 billion yen.
That beat expectations for a fall of 8.1 percent following the 13.9 percent surge in June.
On a yearly basis, core machine orders rose 0.3 percent - again exceeding expectations for a fall of 4.3 percent following the 12.5 percent gain in the previous month.
The total value of machinery orders received by 280 manufacturers operating in Japan increased by 0.1 percent in July.
News are provided by InstaForex
-
Denmark Producer Prices Fall In August
https://forex-images.ifxdb.com/analy...k_market/9.jpg
Denmark's producer prices declined further in August, figures from Statistics Denmark showed on Monday.
The producer prices fell 3.1 percent year-on-year in August, following a 2.2 percent decline in July.
Domestic market prices decreased 4.4 percent annually in July and foreign market prices declined 1.4 percent.
Import prices fell 1.0 percent annually in August and decreased 0.3 percent from the previous month.
On a monthly basis, producer prices fell 0.3 percent in August, after a 0.5 percent rise in the previous month.
-
Australia House Prices Sink 0.7% In Q2
House prices in Australia were down 0.7 percent on quarter in the second quarter of 2019, the Australian Bureau of Statistics said on Tuesday.
That exceeded expectations for a decline of 1.1 percent following the 3.0 percent drop in the three months prior.
On a yearly basis, house prices fell 7.4 percent - unchanged from Q1 but again beating forecasts for a fall of 7.7 percent.
The total value of residential dwellings in Australia fell A$17,611.6m to A$6,610,590.1m this quarter. The mean price of residential dwellings fell A$4,400 to A$638,900. The number of residential dwellings rose by 43,100 to 10,347,200.
News are provided by InstaForex
-
Japan Has Y136.3 Billion Deficit In August
Japan posted a merchandise trade deficit of 136.329 billion yen in August, the Ministry of Finance said on Wednesday.
That beat forecasts for a shortfall of 365.4 billion yen following the 250.7 billion yen deficit in July.
Exports were down 8.2 percent on year to 6.140 trillion yen, also topping expectations for a decline of 10.9 percent following the 1.5 percent annual drop in the previous month.
Imports sank an annual 12.0 percent versus forecasts for a decline of 11.0 percent after easing 1.2 percent a month earlier.
News are provided by InstaForex
-
European Economics Preview: Eurozone Flash PMI Data Due
Flash Purchasing Managers' survey data from euro area is due on Monday, headlining a light day for the European economic news.
At 3.15 am ET, IHS Markit is slated to issue France flash PMI data for September. The composite output index is forecast to drop to 52.5 from 52.9 in August.
At 3.30 am ET, Germany's flash PMI data is due. Economists forecast the composite PMI to rise to 52.0 in September from 51.7 in August.
At 4.00 am ET, IHS Markit is scheduled to publish euro area final PMI results. The composite PMI is seen at 52.0 in September versus 51.9 in August. At 4.30 am ET, UK household finance data is due from IHS Markit.
News are provided by InstaForex
-
Pound at a loss, but does not lose optimism
Hopes of the British pound to rise gradually fade, but the probability of growth still remains, analysts say. The currency of the United Kingdom slightly grew on the positive news last week, but this effect was short-lived.
Recall, last Friday, analysts marked a rally of the pound, which has risen in price on the wave of new optimism regarding a possible deal on Brexit. This rise was triggered by the comments of Jean-Claude Juncker, President of the European Commission, who stated the likelihood of Britain leaving the EU with an agreement. However, the official did not disclose the details of this decision, in connection with which experts considered the position of the pound to be rather unstable.
The experts were right in many respects: on Monday, September 23, the British currency tried to break through strong option levels on the news about alternative solutions to the problem of the Irish border, proposed by the government of Boris Johnson. Some of them even won the approval of Brexit's main opponents without a deal, the Northern Ireland Democratic Union Party (DUP). Many representatives of the EU leadership, including Juncker, softened the general rhetoric, but the signal that the EU was ready to amend the agreement and approve the deal turned out to be false. As a result, the last chance to retain Britain as part of the EU was lost.
The unstable political situation shook the British currency. It still clings to its former optimism, but it is fading before our eyes. At the same time, the GBP/USD currency pair is traded in the structure of the first impulse of decline. The goal is the level of 1.2444, and then a correction to 1.2515 is expected. In the future, analysts do not rule out a fall to the level of 1.2444 and lower, to 1.2360.
On Friday, it became clear that no real breakthrough regarding Brexit is expected. Boris Johnson is quite happy with the country's exit from the EU without a deal, and an attempt to organize new negotiations is unlikely to drastically change the current state of affairs.
In this situation, not only the pound and the entire British economy will suffer, but also the eurozone economy, analysts at the Organization for Economic Cooperation and Development (OECD) are certain. They confirmed the negative scenario in the event of a "hard" Brexit, which would hit the eurozone GDP, reducing it by 0.5 percentage points (pp), while UK GDP would fall by 2 pp.
In the short term, the British currency can test the range of 1.2700-1.2720, analysts said. However, the market still hopes for growth, although the priority in terms of volume remains with deferred sales. Moreover, even a slight negative signal against the GBP/USD pair will throw it into a strong resistance zone to the level of 1.2250, analysts said.
News are provided by InstaForex
-
UK Car Production Rises For First Time In 15 Months
UK car production increased for the first time in 15 months in August, data released by the Society of Motor Manufacturers and Traders showed on Thursday.
Car production grew 3.3 percent on a yearly basis in August as factories kept production lines rolling throughout the month after they brought forward planned summer shutdowns to April in preparation for the original Brexit deadline.
The increase in August couldn't offset the substantial losses posted in April. Only 2,903 more cars were produced in August 2019 than in the same month last year, the agency noted.
Mike Hawes, SMMT chief executive, said, "While growth is always welcome, today's figures mask the underlying downward trend and strengthening global headwinds facing the sector, including international trade tensions, massive technological upheaval and, in the UK, political and economic uncertainty."
Production for the domestic market advanced 15.2 percent in August. Meanwhile, output for exports grew marginally by 0.6 percent.
This disguised ongoing weakness in major global markets with production for China down 43.8 percent, exports to the US falling 9.1 percent and those to the EU dropped 13.7 percent in the first eight months.
The year-to-date production plunged 17 percent. Output failed to reach one million units by August for the first time in five years, the lobby noted.
The SMMT repeatedly called for Brexit deal to maintain competitiveness and safeguard jobs.
SMMT Chief Executive Hawes said the mere threat of no deal has undermined investment and the potential imposition of tariffs, border delays and additional administrative burdens would damage competitiveness.
"We now need parliament and government to redouble efforts to get a deal that maintains free and frictionless trade," said Hawes.
News are provided by InstaForex
-
UK Consumer Confidence Improves In September
UK consumer confidence improved in September, survey results from the market research group GfK showed Friday.
The consumer confidence index rose to -12 in September from -14 in August. "Since the Brexit referendum we have witnessed a long succession of negative Overall Index scores with the overall trend downwards," Joe Staton, client strategy director at GfK, said. "This month, British consumers appear to be treading water during this wait-and-see run-up to October 31st."
The index measuring changes in personal finances during the last 12 months climbed three points to +2. Likewise, the forecast for personal finances over the coming year gained two points to +4.
The measure for the general economic situation over the last year also increased two points, to -32. At the same time, expectations for the general economic situation rose three points to -35.
Further, the major purchase index improved two points to +3. The savings index also rose two points to +23.
News are provided by InstaForex
-
China Manufacturing Sector Expands Most Since Early 2018
https://forex-images.ifxdb.com/analy...ew/china/5.jpg
China's manufacturing sector expanded at the fastest pace since early 2018 in September despite ongoing trade disputes with the United States, survey data from IHS Markit showed on Monday.
The Caixin factory Purchasing Managers' Index rose to 51.4 in September from 50.4 in August. Any score above 50 indicates expansion in the sector. This was the highest score since February 2018.
The official data from the National Bureau of Statistics revealed that the factory sector continued to contract in September. However, the manufacturing PMI climbed to 49.8 from 49.5 a month ago.
New orders increased at the fastest rate since March 2018, while new export orders decreased slightly in September, IHS Markit reported. Companies said that the ongoing China-US trade dispute had continued to dampen foreign sales.
Employment level remained unchanged for the second month in September. Outstanding business increased amid stagnant payrolls and rise in orders.
Higher volumes of total new work led firms to expand production again in September. The rate of growth was the fastest seen since August 2018.
Input buying rose for the third month in a row and stocks of purchased items expanded slightly.
Input costs increased at the end of the third quarter and the output cost remained broadly unchanged compared to the previous month.
Nonetheless, goods producers continued to express a relatively subdued level of confidence towards future output, as worries persisted over the outcome of the ongoing China-US trade negotiations.
"Growth in manufacturing demand was mainly driven by the domestic market as China-U.S. trade conflicts still restrained overseas demand," Zhengsheng Zhong, director of macroeconomic analysis at CEBM Group, said.
-
UK Economic Conditions Deteriorate On Weak Manufacturing Activity: BCC
The UK economic conditions weakened in the third quarter reflecting a marked deterioration in manufacturing sector activity, survey results from the British Chambers of Commerce showed Friday.
According to Quarterly?Economic?Survey, manufacturing firms reporting increased domestic sales fell to zero. The domestic order balance entered negative territory for the first time in seven years, to -7 in the third quarter. Both are at their weakest since the fourth quarter of 2011.
The balance of manufacturing firms reporting increased export sales dropped to +3, the lowest level since the fourth quarter of 2015 and the balance for export orders went negative and came in at its weakest level since the third quarter of 2009.
The dominant services sector reported a decrease in the balance of firms reporting increased domestic sales and orders, and export orders, the survey showed. The domestic sales balance of service providers slid to 15 and the balance for domestic orders dropped marginally to 9 in the third quarter.
Manufacturers' cashflow position - a key indicator of the financial health of a business, deteriorated. In the services sector, cashflow held steady at a low level.
"A stuttering services sector coupled with a worrying downturn in manufacturing activity indicates that any bounce back in UK GDP growth from the contraction in the second quarter is likely to be underwhelming at best," Suren?Thiru, Head of Economics at the BCC, said.
"This is a reality check, not scaremongering or politicking. These are some of the worst figures we've seen in a decade - and jobs, businesses, and the future success of our communities are on the line," Adam Marshall, Director General of the BCC, said.
News are provided by InstaForex
-
Australia Home Loans Climb 3.2% In August
The total number of home loans in Australia was up a seasonally adjusted 3.2 percent on month in August, the Australian Bureau of Statistics said on Thursday - coming in at 33,468.
That exceeded expectations for an increase of 2.3 percent following the upwardly revised 4.3 percent increase in July (originally 4.2 percent).
Personal finance commitments fell 2.2 percent in August following a 3.8 percent fall in July and was down 12.9 percent on August 2018.
The value of new lending commitments for owner occupier dwellings rose 1.9 per cent nationally in August, with rises in all states and territories apart from the Northern Territory.
News are provided by InstaForex
-
New Zealand Services Sector Slows In September - BusinessNZ
The services sector in New Zealand continued to expand in September, albeit at a slower rate, the latest survey from BusinessNZ showed on Monday with a Performance of Services Index score of 54.4.
That's down from 54.6 in August, although it remains well above the boom-or-bust line of 50 that separates expansion from contraction.
Among the individual components of the survey, sales (54.4), supplier deliveries (50.5), stocks (51.8), employment (52.7) and new orders (59.3) all continued to expand last month.
"The fact that new orders/business (59.3) improved to its highest result since January should assist with general business activity going forward. However, looking more broadly the gap in performance between the services and manufacturing sectors persists. With other key economic data showing a general trend decline, the question becomes to what degree will the services sector be affected by slowing influences elsewhere in the months ahead," BusinessNZ chief executive Kirk Hope said.
News are provided by InstaForex
-
China Consumer Prices Climb 3.0% On Year In September
Consumer prices in China were up 3.0 percent on year in September, the National Bureau of Statistics said on Tuesday.
That exceeded expectations for 2.9 percent and was up from 2.8 percent in August.
On a monthly basis, inflation rose 0.9 percent - accelerating from 0.7 percent in the previous month.
The bureau also said that producer prices contracted 1.2 percent on year, matching expectations following the 0.8 percent decline a month earlier.
News are provided by InstaForex
