Forex News from InstaForex

**InstaForex Gertrude** · 27-04-23, 08:07

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.

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**InstaForex Gertrude** · 28-04-23, 04:21

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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**InstaForex Gertrude** · 03-05-23, 09:58

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(Earlier story being withdrawn and corrected to say NZ Dollar Rose Against Major currencies)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.

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**InstaForex Gertrude** · 04-05-23, 03:54

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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**InstaForex Gertrude** · 05-05-23, 05:53

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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**InstaForex Gertrude** · 08-05-23, 09:17

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.

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**InstaForex Gertrude** · 09-05-23, 07:56

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.

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**InstaForex Gertrude** · 10-05-23, 10:29

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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**InstaForex Gertrude** · 11-05-23, 07:22

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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**InstaForex Gertrude** · 15-05-23, 08:29

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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**InstaForex Gertrude** · 16-05-23, 08:15

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.

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**InstaForex Gertrude** · 17-05-23, 08:09

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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**InstaForex Gertrude** · 18-05-23, 11:21

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.

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**InstaForex Gertrude** · 19-05-23, 08:45

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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**InstaForex Gertrude** · 24-05-23, 08:13

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.

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**InstaForex Gertrude** · 25-05-23, 06:59

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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**InstaForex Gertrude** · 26-05-23, 08:14

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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**InstaForex Gertrude** · 29-05-23, 10:45

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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**InstaForex Gertrude** · 30-05-23, 08:17

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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**InstaForex Gertrude** · 01-06-23, 08:15

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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