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NZ DOLLAR RISES AGAINST MAJORS
The New Zealand dollar strengthened against other major currencies in the Asian session on Wednesday.
The NZ dollar rose to a 3-week high of 83.97 against the yen and more than a 2-week high of 1.7167 against the euro, from yesterday's closing quotes of 83.14 and 1.7343, respectively.
Against the U.S. and the Australian dollars, the kiwi advanced to nearly a 2-month high of 0.6379 and a 3-1/2-month high of 1.0618 from yesterday's closing quotes of 0.6311 and 1.0696, respectively.
If the kiwi extends its uptrend, it is likely to find resistance around 86.00 against the yen, 1.67 against the euro, 0.64 against the greenback and 1.06 against the aussie.
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EUROPEAN ECONOMIC NEWS PREVIEW: GERMANY INDUSTRIAL OUTPUT, CONSTRUCTION PMI DUE
Industrial production and construction Purchasing Managers' survey results from Germany are due on Thursday, headlining a light day for the European economic news.
At 1.45 am ET, unemployment data is due from Switzerland. The jobless rate is forecast to fall slightly to 2.0 percent in March from 2.1 percent in February.
At 2.00 am ET, Destatis is slated to release Germany's industrial production for February. Economists expect output to gain 0.1 percent on month, slower than the 3.5 percent increase in January.
In the meantime, UK Halifax house price data is due. House prices are expected to fall 0.3 percent on month in March, reversing a 1.1 percent increase in February.
Also, GDP, industrial production and household consumption are due from Statistics Sweden.
At 3.00 am ET, wholesale prices and foreign trade figures are due from Austria. And industrial and construction output and external trade reports are due from the Czech Republic.
At 3.30 am ET, S&P Global publishes Germany's construction Purchasing Managers' survey results.
At 4.30 am ET, UK S&P/CIPS construction PMI data is due. The index is seen falling to 53.5 in March from 54.6 in February.
News are provided by InstaForex
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NZ DOLLAR ADVANCES AGAINST MOST MAJORS
The New Zealand dollar strengthened against most major currencies in the Asian session on Friday.
The NZ dollar rose to 0.6262 against the U.S. dollar and 82.49 against the yen, from yesterday's closing quotes of 0.6242 and 82.28, respectively.
Against the euro, the kiwi advanced to 1.7435 from yesterday's closing value of 1.7479.
If the kiwi extends its uptrend, it is likely to find resistance around 0.65 against the greenback, 84.00 against the yen and 1.69 against the euro.
News are provided by InstaForex
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JAPAN HAS Y2.197 TRILLION CURRENT ACCOUNT SURPLUS IN FEBRUARY
Japan posted a current account surplus of 2.197 trillion yen in February, the Ministry of Finance said on Monday.
That was shy of expectations for a surplus of 2.536 trillion yen following the downwardly revised 1.989 trillion shortfall in January (originally -1.977 trillion yen).
Exports rose 4.5 percent on year to 7.644 trillion yen, while imports climbed an annual 8.248 trillion yen for a trade deficit of 604.1 billion yen.
The capital account showed a deficit of 15.8 billion yen, while the financial account showed a surplus of 3.292 trillion yen.
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AUSTRALIAN DOLLAR RISES AGAINST MAJORS
The Australian dollar strengthened against other major currencies in the Asian session on Tuesday.
The Australian dollar rose to a 5-day high of 1.6309 against the euro, from yesterday's closing value of 1.6352.
Against the yen and the NZ dollar, the aussie advanced to 6-day highs of 89.03 and 1.0714 from yesterday's closing quotes of 88.67 and 1.0674, respectively.
The aussie edged up to 0.6674 against the U.S. dollar, from yesterday's closing value of 0.6641.
Moving away from an early near 5-month low of 0.8956 against the Canadian dollar, the aussie climbed to 0.9002.
If the aussie extends its uptrend, it is likely to find resistance around 1.58 against the euro, 91.00 against the yen, 1.08 against the kiwi, 0.68 against the greenback and 0.91 against the loonie.
News are provided by InstaForex
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EUROPEAN ECONOMIC NEWS PREVIEW: UK GDP DATA DUE
Monthly GDP from the UK and final inflation from Germany are the top economic news due on Thursday.
At 2.00 am ET, the Office for National Statistics publishes UK monthly GDP data for February. The economy is forecast to grow marginally by 0.1 percent on month, slower than the 0.3 percent expansion registered in January.
At the same time, the UK visible trade deficit is seen narrowing to GBP 17.0 billion from GBP 17.86 billion in January.
In the meantime, Destatis is set to issue Germany's final consumer and harmonized prices for March. Consumer price inflation is forecast to ease to 7.4 percent, in line with flash estimate, from 8.7 percent in February.
At 3.00 am ET, the Czech Statistical Office releases consumer prices for March. Economists forecast inflation to slow to 14.9 percent from 16.7 percent in February. At 4.00 am ET, Italy's Istat publishes industrial output data for February. Production is seen expanding 0.5 percent month-on-month, in contrast to the 0.7 percent decline in January. At 5.00 am ET, Eurozone industrial production data is due. Economists forecast Eurozone industrial output to grow at a faster pace of 1.0 percent in February after rising 0.7 percent in January.
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SINGAPORE GDP SINKS 0.7% IN Q1
Singapore's gross domestic product contracted a seasonally adjusted 0.7 percent on quarter in the first quarter of 2023, the Ministry of Trade and Industry said in Friday's preliminary reading.
That missed expectations for a decline of 0.2 percent following the downwardly revised 0.1 percent increase in the fourth quarter of 2022 (originally 0.3 percent).
On an annualized basis, GDP was up 0.1 percent - again shy of forecasts for a gain of 0.6 percent and down from 2.1 percent in the three months prior.
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U.S. DOLLAR ADVANCES AGAINST MAJORS
The U.S. dollar strengthened against other major currencies in the Asian session on Monday.
The U.S. dollar rose to more than a 1-month high of 134.11 against the yen, a 6-day high of 1.2383 against the pound and a 5-day high of 1.0962 against the euro, from last week's closing quotes of 133.73, 1.2412 and 1.0993, respectively.
Against the Swiss franc and Australian dollar, the greenback advanced to 4-day highs of 0.8959 and 0.6690 from Friday's closing quotes of 0.8935 and 0.6708, respectively.
If the greenback extends its uptrend, it is likely to find resistance around 137.00 against the yen, 1.20 against the pound, 1.07 against the euro, 0.91 against the franc and 0.65 against the aussie
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Bitcoin reaches buying zone
Bitcoin crashed in the short term and now is trading at 28,106. After its strong growth, a retreat was natural. The rate could test and retest the near-term support levels before developing a new leg higher.
BTC/USD dropped by 10.33% from last Friday's high of 31,035 to 27,828 today's low. It's down by 1.83% in the last 24 hours and by 6.95% in the last 7 days.
BTC/USD Massive Drop!
Technically, BTC/USD turned to the downside after failing to reach and retest the upper median line (uml) of the ascending pitchfork. Now, it has reached the median line (ml) of the ascending pitchfork which represents a dynamic support.
27,723 represents a downside obstacle as well. As long as it stays above the median line, BTC/USD could develop a new leg higher.
BTC/USD Outlook!
False breakdowns below the median line (ml) and through 27,723 announce a new leg higher and could bring new long opportunities.
News are provided by InstaForex
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CANADIAN DOLLAR DROPS AGAINST MOST MAJORS
The Canadian dollar weakened against most major currencies in the Asian session on Wednesday.
The Canadian dollar fell to 1.4972 against the euro, from yesterday's closing value of 1.4947.
Against the U.S. dollar and the yen, the loonie edged down to 1.3642 and 97.86 from yesterday's closing quotes of 1.3626 and 98.14, respectively.
If the loonie extends its downtrend, it is likely to find support around 1.51 against the euro, 1.38 against the greenback and 93.00 against the yen.
News are provided by InstaForex
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NZ DOLLAR RISES AGAINST MAJORS
The New Zealand dollar strengthened against other major currencies in the Asian session on Thursday.
The NZ dollar rose to 0.6138 against the U.S. dollar and 81.99 against the yen, from yesterday's closing quotes of 0.6116 and 81.76, respectively.
Against the euro, the kiwi advanced to 1.8004 from yesterday's closing value of 1.8043.
Moving away from an early 2-day low of 1.0802 against the Australian dollar, the kiwi edged up to 1.0766.
If the kiwi extends its uptrend, it is likely to find resistance around 0.64 against the greenback, 85.00 against the yen, 1.76 against the euro and 1.06 against the aussie.
News are provided by InstaForex
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JAPAN RETAIL SALES JUMP 7.2% ON YEAR IN MARCH
The total value of retail sales in Japan was up 7.2 percent on year in March, the Ministry of Economy, Trade and Industry said on Friday - coming in at 14.567 trillion yen.
That exceeded expectations for an increase of 5.8 percent following the 7.3 percent gain in February.
On a seasonally adjusted monthly basis, retail sales added 0.6 percent - slowing from 2.1 percent in the previous month.
For the first quarter of 2023, retail sales gained 2.6 percent on quarter and 6.5 percent on year at 39.781 trillion yen.
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AMENDED: NZ DOLLAR RISES AGAINST MAJORS
(Earlier story being withdrawn and corrected to say NZ Dollar Rose Against Major currencies)
The New Zealand dollar strengthened against other major currencies in the Asian session on Wednesday.
The NZ dollar rose to nearly a 3-week high of 0.6249 against the U.S. dollar and a 2-day high of 1.0681 against the Australian dollar, from yesterday's closing quotes of 0.6207 and 1.0731, respectively.
Against the euro and the yen, the kiwi edged up to 1.7639 and 85.05 from yesterday's closing quotes of 1.7707 and 84.77, respectively.
If the kiwi extends its uptrend, it is likely to find resistance around 0.64 against the greenback, 1.05 against the aussie, 1.71 against the euro and 87.00 against the yen.
News are provided by InstaForex
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SINGAPORE PRIVATE SECTOR ACCELERATES IN APRIL - S&P GLOBAL
The private sector in Singapore continued to expand in April, and at a faster pace, the latest survey from S&P Global showed on Thursday with a PMI score of 55.3.
That's up from 52.6 in March, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
A key driver of the improved headline reading was a sharp and accelerated rise in total new business placed with Singaporean private sector firms. The rate of new order growth was the best seen for five months, and frequently linked to firmer market conditions and improved client spending.
The upturn was also supported by improved foreign demand for Singaporean goods and services, with new export business rising modestly after a solid decline in March. Firmer customer demand and rising amounts of new work drove a further increase in output, with the pace of expansion quickening to a six-month high. The rate of growth was also comfortably above the series long-run average.
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AUSTRALIA HOME LOAN DATA DUE ON FRIDAY
Australia will on Friday release March figures for home loans, highlighting a modest day for Asia-Pacific economic activity. Loans are expected to slip 1.0 percent after shedding 1.2 percent in February.
Singapore will provide March figures for retail sales, with analysts expecting a fall of 0.1 percent on month and a gain of 6.0 percent on year after rising 3.9 percent on month and 12.7 percent on year in February.
Taiwan will release April data for consumer prices; in March, inflation was up 0.27 percent on month and 2.35 percent on year.
China will see April results for the services PMI from Caixin, with forecasts suggesting a score of 57.3, down from 57.8 in March.
Indonesia will provide Q1 numbers for gross domestic product, with forecasts calling for a decline of 1.0 percent on quarter and an increase of 4.95 percent on year. That follows gains of 0.36 percent on quarter and 5.01 percent on year in the three months prior.
Finally, the markets in Japan and South Korea are closed on Friday for Children's Day, while Thailand remains closed for Coronation Day.
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EUROPEAN ECONOMIC NEWS PREVIEW: GERMANY INDUSTRIAL OUTPUT DATA DUE
Industrial production from Germany and investor confidence from the euro area are the top economic news due on Monday.
At 2.00 am ET, Destatis is scheduled to issue Germany's industrial output for March. Economists forecast industrial production to fall 1.3 percent on a monthly basis, following a 2 percent rise in February.
In the meantime, foreign trade data from Finland and manufacturing output from Denmark are due.
At 4.30 am ET, Eurozone Sentix investor confidence survey results are due. The economic sentiment index is expected to improve to -8.0 in May from -8.7 in April.
At 5.00 am ET, foreign trade figures are due from Greece.
News are provided by InstaForex
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POUND SLIDES AGAINST MOST MAJORS
The British pound weakened against most major currencies in the Asian session on Tuesday.
The pound dropped to a 4-day low of 1.1207 against the Swiss franc, from yesterday's closing value of 1.1221.
Against the U.S. dollar and the yen, the pound slipped to 4-day lows of 1.2604 and 170.14 from yesterday's closing quotes of 1.2617 and 170.42, respectively.
If the pound extends its downtrend, it is likely to find support around 1.09 against the franc, 1.22 against the greenback and 164.00 against the yen.
News are provided by InstaForex
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DUTCH INDUSTRIAL PRODUCTION CONTRACTS 4%
The Netherlands' industrial output decreased for the third straight month in March, largely due to a sharp fall in chemical output, figures from the Central Bureau of Statistics showed on Wednesday.
Industrial production fell 4.0 percent year-on-year in March, after a 2.3 percent decline in February.
Although total manufacturing output contracted, about half of all business classes produced more in March than in the same month a year earlier, the agency said.
The chemical industry had the largest negative contribution of 17.6 percent, followed by rubber and plastic with a 9.5 percent fall.
On the other hand, the transport equipment industry experienced the highest growth, rising by 12.9 percent yearly in March.
On a monthly basis, industrial production decreased a seasonally and working-day adjusted 2.0 percent in March.
Entrepreneurs in the manufacturing industry were less positive in April, as they were less upbeat about the order book and the expected activity.
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CHINA CPI SLIPS 0.1% ON MONTH IN APRIL
Overall consumer prices in China were down 0.1 percent on month in April, the National Bureau of Statistics said on Thursday.
That missed expectations for a flat reading following the 0.3 percent decline in March.
On a yearly basis, inflation rose 0.1 percent - also shy of forecasts for an increase of 0.4 percent and slowing from 0.7 percent in the previous month.
The bureau also said that producer prices dropped 3.6 percent on year versus expectations for a decline of 3.2 percent following the 2.5 percent contraction a month earlier.
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YEN DROPS AGAINST MAJORS
The Japanese yen weakened against other major currencies in the Asian session on Monday.
The yen fell to nearly a 2-week low of 136.12 against the U.S. dollar and a 4-day low of 169.65 against the pound, from Friday's closing quotes of 135.74 and 168.93, respectively. Against the euro and the Swiss franc, the yen dropped to 5-day lows of 147.85 and 151.62 from last week's closing quotes of 147.27 and 151.04, respectively.
Against the Australia and the Canadian dollars, the yen slipped to 4-day lows of 90.63 and 100.38 from Friday's closing quotes of 90.08 and 100.09, respectively.
The yen edged down to 84.52 against the NZ dollar, from last week's closing value of 83.97.
If the yen extends its downtrend, it is likely to find support around 137.00 against the greenback, 173.00 against the pound, 152.00 against the euro, 154.00 against the franc, 93.00 against the aussie, 102.00 against the loonie and 86.00 against the kiwi.
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AUSTRALIAN DOLLAR FALLS AGAINST MAJORS
The Australian dollar weakened against other major currencies in the Asian session on Tuesday.
The Australian dollar fell to a 4-day low of 1.0702 against the NZ dollar, from yesterday's closing value of 1.0733.
Moving away from a recent 4-day high of 0.6709 against the U.S. dollar, the aussie slid to 0.6680.
Against the euro and the yen, aussie edged down to 1.6271 and 90.82 from yesterday's closing quotes of 1.6223 and 91.18, respectively.
The aussie dropped to 0.9004 against the Canadian dollar, from yesterday's closing value of 0.9021.
If the aussie extends its downtrend, it is likely to find support around 1.04 against the kiwi, 0.65 against the greenback, 1.66 against the euro, 88.00 against the yen and 0.89 against the loonie.
News are provided by InstaForex
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SINGAPORE TRADE SURPLUS SGD4.713 BILLION IN APRIL
Singapore posted a merchandise trade surplus of SGD4.713 billion in April, Statistics Singapore said on Wednesday.
That was shy of expectations for a surplus of SGD6.346 billion following the SGD6.207 billion surplus in March.
Non-oil domestic exports were up 2.7 percent on month, beating forecasts for a decline of 3.0 percent following the 18.4 percent surge in the previous month.
On a yearly basis, non-oil domestic exports slumped 9.8 percent, missing forecasts for a drop of 9.4 percent after sinking 8.3 percent a month earlier.
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Technical Analysis of ETH/USD for May 18, 2023
Crypto Industry News:
The NFT market is developing very dynamically in the crypto ecosphere. It is quite easy to use which makes it suitable for many applications. The popularity of NFT leaves room for abuse. Therefore, it is recommended to exercise extreme caution in conjunction with continuous education.
China's national law enforcement agency published a new set of guidelines for non-fungible tokens (NFTs) on May 15. The agency warned that NFTs are being used as proxies for illicit securities and speculative digital assets.
The guidelines of the Supreme People's Prosecutor's Office of the People's Republic of China recommend stronger "risk testing and assessment" to distinguish NFT "true innovation" from quasi-crypto "pseudo innovation". They stress the need to "punish crimes thoroughly".
"While NFT enjoys great popularity, it is very likely to result in financial risk, management risk, network security risk, etc. and especially legal risk," they wrote.
Since China decided to outlaw cryptocurrencies in September 2021, NFTs have been moving in a "legal gray area". As a result, China's domestic NFT market largely self-regulates the industry.
"What consumers benefit from is the exclusive right to prohibit others from tampering with NFT property stored on the blockchain."
This stance on NFT ownership appears to be at odds with the landmark ruling of the Hangzhou Internet Court on December 5, 2022. The court in the ruling stated that non-fungible tokens (NFTs) constitute online virtual property and are recognized under Chinese law.
Technical Market Outlook:
The ETH/USD pair has bounced from the short-term trend line support around the level of $1,783 an is heading higher towards the last swing high seen at $1,848. The intraday technical resistance is seen at $1,848 and then at $1,885. The momentum is strong and positive, so the temporary outlook for the ETH on the H4 time frame chart is bullish, but the bears are still in charge of the market and the next target for bears is seen at $1,687. If the market would have manage to trade above the local trend line support and broke above the last high seen at $1,848, then the bull would have a chance to extend the rally even higher.
Weekly Pivot Points:
WR3 - $1,913
WR2 - $1,886
WR1 - $1,844
Weekly Pivot - $1,814
WS1 - $1,795
WS2 - $1,764
WS3 - $1,712
Trading Outlook:
The Ethereum market has been seen making lower highs and lower low since the swing high was made in the middle of the August 2022 at the level of $2,029. This is the key level for bulls, so it needs to be broken in order to continue the up trend. The key technical support is seen at $1,368, so as long as the market trades above this level, the outlook remains bullish.
News are provided by InstaForex
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US stock market closes higher, Dow Jones gains 0.34%
US initial jobless claims for the week ending May 13 fell by 22,000 from the previous week to 242,000. Analysts, in turn, were waiting for the indicator to decrease to 254 thousand. Thus, the decrease in applications may signal a positive direction for the US dollar.
At the close in the New York Stock Exchange, the Dow Jones was up 0.34%, the S&P 500 was up 0.94% and the NASDAQ Composite was up 1.51%.
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AUSTRALIAN DOLLAR SLIDES AGAINST MAJORS
The Australian dollar weakened against other major currencies in the Asian session on Wednesday.
The Australian dollar fell to a 1-week low of 1.6351 against the euro and a 6-day low of 91.19 against the yen, from yesterday's closing quotes of 1.6284 and 91.59, respectively.
Against the U.S. and the Canadian dollars, the aussie dropped to nearly a 4-week low of 0.6585 and a 6-month low of 0.8897 from yesterday's closing quotes of 0.6609 and 0.8922, respectively.
If the aussie extends its downtrend, it is likely to find support around 1.67 against the euro, 87.00 against the yen, 0.63 against the greenback and 0.86 against the loonie.
News are provided by InstaForex
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SINGAPORE GDP SLIPS 0.4% IN Q1
Singapore's gross domestic product dropped a seasonally adjusted 0.4 percent on quarter in the first three months of 2023, the Ministry of Trade and Industry said on Thursday.
That beat forecasts for a decline of 0.7 percent following the 0.1 percent increase in the previous three months.
On an annualized basis, GDP rose 0.4 percent, exceeding expectations for a gain of 0.1 percent, which would have been unchanged from the previous reading.
Upon the release of the data, the MTI announced that its 2023 GDP growth forecast for Singapore has been maintained at 0.5 to 2.5 percent, with growth likely to come in at around the mid-point of the range.
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CANADIAN DOLLAR SLIDES AGAINST MAJORS
The Canadian dollar weakened against other major currencies in the Asian session on Friday.
The Canadian dollar fell to nearly a 1-month low of 1.3654 against the U.S. dollar and a 9-day low of 1.4648 against the euro, from yesterday's closing quotes of 1.3639 and 1.4627, respecively.
Against the yen and the Australian dollar, the loonie dropped to 102.38 and 0.8885 from yesterday's closing quotes of 102.65 and 0.8873, respecively.
If the loonie extends its downtrend, it is likely to find support around 1.37 against the greenback, 1.49 against the euro, 99.00 against the yen and 0.91 against the aussie.
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SINGAPORE PRODUCER PRICES DECLINE 4.6%
Singapore's producer prices decreased for the third straight month in April, largely due to a slump in the oil index, data from the Department of Statistics showed on Monday.
The manufacturing producer price index fell 4.6 percent year-on-year in April, slightly faster than the 4.4 percent rise in the prior month.
The oil index plunged 21.0 percent annually in April, and the non-oil index showed a comparatively smaller decrease of 1.1 percent.
Domestic supply prices were 11.4 percent lower in April from a year ago, after an 11.3 percent drop in March. This was the fourth successive monthly fall.
On a monthly basis, producer prices moved up 0.3 percent in April versus a 0.9 percent rise in the previous month.
Separate data from the statistical office revealed that import prices fell at a faster pace of 11.0 percent yearly in April, following a 10.1 percent decline in the prior month.
Monthly, import prices increased 1.2 percent from March, when they grew by 0.4 percent.
Data showed that export prices registered a decrease of 12.4 percent yearly in April, while they rose 0.7 percent compared to a month ago.
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AUSTRALIAN DOLLAR FALLS AGAINST MAJORS
The Australian dollar weakened against other major currencies in the Asian session on Tuesday.
The Australian dollar fell to a 4-day low of 0.6510 against the U.S. dollar, from an early 6-day high of 0.6559.
Against the yen and the Canadian dollar, the aussie dropped to a 4-day low of 91.28 and more than a 6-month low of 0.8856 from yesterday's closing quotes of 91.80 and 0.8883, respectively.
Against the euro and the NZ dollar, the aussie edged down to 1.6444 and 1.0788 from an early 6-day high of 1.6351 and a 4-week high of 1.0825, respectively.
If the aussie extends its downtrend, it is likely to find support around 0.63 against the greenback, 88.00 against the yen, 0.86 against the loonie, 1.68 against the euro and 1.05 against the kiwi.
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SOUTH KOREA TRADE DEFICIT $2.10 BILLION IN MAY
South Korea posted a merchandise trade deficit of $2.10 billion in May, the Customs Office said on Thursday.
That exceeded expectations for a shortfall of $2.89 billion following the $2.70 billion deficit in April.
Exports dropped 15.2 percent on year, missing forecasts for a decline of 13.5 percent following the 14.3 percent fall in the previous month.
Imports were down 14.0 percent on year versus expectations for a drop of 10.6 percent after sinking 13.3 percent a month earlier.
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HONG KONG PRIVATE SECTOR PMI FALLS TO 50.6 IN MAY - S&P GLOBAL
The private sector in Hong Kong continued to expand in May, albeit at a slower pace, the latest survey from S&P Global showed on Monday with a private sector PMI score of 50.6.
That's down from 52.4 in April, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.
Despite being driven by a surge in new business to Mainland China, new order growth slowed to the weakest since January. Lower new sales led to a softer rise in business activity and a reduction in inventory holdings. At the same time, staffing levels fell for the first time since November 2022.
That said, overall input cost inflation quickened as supplier performance deteriorated for the first time in seven months, thereby adding pressure to firms' margins. Less robust demand conditions also weighed on business confidence.
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AUSTRALIA GDP RISES 0.2% IN Q2
https://forex-images.ifxdb.com/analy...ustralia/5.jpg
Australia's gross domestic product expanded by a seasonally adjusted 0.2 percent on quarter in the first quarter of 2023, the Australian Bureau of Statistics said on Wednesday.
That missed expectations for an increase of 0.8 percent and was down from 0.5 percent in the previous three months.
On an annualized basis, GDP was up 2.3 percent - again missing forecasts for a gain of 2,7 percent, which would have been steady from the three months prior.
Capital expenditure was up 1.8 percent on quarter, exceeding expectations for a decline of 5.6 percent following the 1.4 percent contraction in the previous quarter.
The GDP chain price index was up 1.8 percent on quarter, while final consumption rose 0.2 percent.
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CHINA INFLATION RISES 0.2% ON YEAR IN MAY
Consumer prices in China were up 0.2 percent on year in May, the National Bureau of Statistics said on Friday.
That was shy of expectations for an increase of 0.4 percent following the 0.1 percent increase in the previous month.
On a monthly basis, consumer prices fell 0.2 percent, missing expectations for a decline of 0.1 percent - which would have been unchanged from the April reading.
The NBS also said that producer prices dropped 4.6 percent on year, missing expectations for a decline of 4.0 percent following the 3.6 percent fall a month earlier.
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U.S. DOLLAR RISES AGAINST MAJORS
https://forex-images.ifxdb.com/analy...w/dollar/2.jpg
The U.S. dollar strengthened against other major currencies in the Asian session on Monday.
The U.S. dollar rose to 4-day highs of 1.0733 against the euro and 0.9044 against the Swiss franc, from last week's closing quotes of 1.0748 and 0.9031, respectively.
Against the pound and the yen, the greenback advanced to 1.2564 and 139.65 from Friday's closing quotes of 1.2577 and 139.35, respectively.
If the greenback extends its uptrend, it is likely to find resistance around 1.05 against the euro, 0.92 against the franc, 1.21 against the pound and 142.00 against the yen.
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NZ DOLLAR FALLS AGAINST MAJORS
The New Zealand dollar weakened against other major currencies in the Asian session on Tuesday.
The NZ dollar fell to nearly a 4-month low of 1.1049 against the Australian dollar, from yesterday's closing value of 1.1021.
Against the yen and the euro, the kiwi dropped to 4-day lows of 85.16 and 1.7641 from yesterday's closing quotes of 85.49 and 1.7565, respectively.
The kiwi edged down to 1.6106 against the U.S. dollar, from yesterday's closing value of 1.6121.
If the kiwi extends its downtrend, it is likely to find support around 1.11 against the aussie, 82.00 against the yen, 1.80 against the euro and 0.58 against the greenback.
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EUROPEAN ECONOMIC NEWS PREVIEW: UK GDP DATA DUE
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Monthly GDP data from the UK and industrial output from the euro area are due on Wednesday, headlining a light day for the European economic news.
At 2.00 am ET, the Office for National Statistics releases UK monthly GDP, industrial output and foreign trade data. Gross domestic product is forecast to grow 0.2 percent on a monthly basis in April, reversing a 0.3 percent fall in March.
The UK visible trade deficit is expected to widen to GBP 16.5 billion in April from GBP 16.36 billion in March. In the meantime, Destatis is scheduled to publish Germany's wholesale prices for May. Wholesale prices are forecast to fall 3.3 percent annually, sharper than the 0.5 percent decrease in April.
Also, Statistics Sweden issues consumer price data for May. Economists forecast inflation to slow to 9.4 percent from 10.5 percent in April.
At 5.00 am ET, Eurozone industrial production data is due. Economists expect output to grow 1.0 percent on month in April, in contrast to the 4.1 percent fall in March.
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JAPAN HAS Y1,372.5 BILLION TRADE DEFICIT IN MAY
Japan posted a seasonally adjusted merchandise trade deficit of 1,362.5 billion yen in May, the Ministry of Finance said on Thursday.
That missed expectations for a shortfall of 1,331.9 billion following the 432.3 billion yen deficit in April.
Exports were up 0.6 percent on year to 7,292.6 billion yen, exceeding forecasts for a 0.8 percent decline following the 2.6 percent gain in the previous month.
Imports dropped an annual 9.9 percent to 8,665.1 billion yen versus expectations for a decline of 10.3 percent after slipping 2.3 percent a month earlier.
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AUSTRALIAN DOLLAR FALLS AGAINST MAJORS
The Australian dollar weakened against other major currencies in the Asian session on Monday.
The Australian dollar fell to a 10-day low of 1.6003 against the euro, from Friday's closing value of 1.5902.
Against the U.S., the Canada and the New Zealand dollars, the aussie dropped to 4-day lows of 0.6834, 0.9040 and 1.1008 from last week's closing quotes of 0.6873, 0.9065 and 1.1019, respectively.
The aussie edged down to 96.73 against the yen, from more than a 9-month high of 97.67.
If the aussie extends its downtrend, it is likely to find support around 1.63 against the euro, 0.66 against the greenback, 0.89 against the loonie, 1.06 against the kiwi and 94.00 against the yen.
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YEN RISES AGAINST MAJORS
The Japanese yen strengthened against other major currencies in the Asian session on Tuesday.
The yen rose to 4-day highs of 154.59 against the euro and 181.15 against the pound, from yesterday's closing quotes of 155.02 and 181.48, respectively.
Against the U.S. dollar, the yen advanced to 141.58 from an early 7-month low of 142.25.
The yen edged up to 157.98 against the Swiss franc, from yesterday's closing value of 158.41.
If the yen extends its uptrend, it is likely to find resistance around 149.00 against the euro, 174.00 against the pound, 138.00 against the greenback and 153.00 against the yen.
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EUROPEAN ECONOMIC NEWS PREVIEW: UK INFLATION DATA DUE
Consumer prices and public sector finance from the UK are the top economic news due on Wednesday.
At 2.00 am ET, the Office for National Statistics releases UK consumer and producer prices and public sector finance data. Consumer price inflation is forecast to slow to 8.4 percent in May from 8.7 percent in April. Economists expect output prices to climb 3.6 percent after a 5.4 percent rise in April.
The UK budget deficit is seen narrowing to GBP 14.9 billion in May from GBP 24.7 billion in April.
In the meantime, Europe's new car registrations data is due for May. Registrations had increased 17.2 percent in April.
At 4.00 am ET, industrial production, producer prices and corporate sector wage figures are due. Economists forecast industrial output to fall 3 percent on a yearly basis, slower than April's 6.4 percent decrease.
At 6.00 am ET, the Confederation of British Industry publishes Industrial Trends survey results. The order book balance is seen unchanged at minus 17 percent in June.
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