Forex News from InstaForex

**InstaForex Gertrude** · 09-07-15, 03:36

Japan M2 Money Stock Rises 3.8% In June

The M2 money stock in Japan advanced 3.8 percent on year in June, the Bank of Japan said on Thursday - worth 908.7 trillion yen. That missed expectations for an increase of 4.0 percent following the upwardly revised 4.1 percent gain in May (originally 4.0 percent). The M3 money stock gained an annual 3.1 percent to 1,224.3 trillion yen - also below forecasts for 3.3 percent, which would have been unchanged from the previous month. The L money stock gained 4.3 percent to 1,617.4 trillion yen following the 4.5 percent jump a month earlier.

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**InstaForex Gertrude** · 10-07-15, 03:53

Japan Corporate Service Prices Dip 0.2% In June

An index monitoring corporate service prices in Japan was down 0.2 percent on month in June, the Bank of Korea said on Friday. That missed forecasts for an increase or 0.1 percent following the downwardly revised 0.2 percent increase in May (originally 0.3 percent). On a yearly basis, prices dipped 2.4 percent - also shy of expectations for a fall of 2.2 percent - which would have been unchanged from the previous month following a downward revision from -2.1 percent. Export prices were flat on month and down 4.2 percent on year, the bank said, while import prices added 1.2 percent on month but tumbled 17.6 percent on year.

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**InstaForex Gertrude** · 10-07-15, 07:12

Euro Rises Against Majors

The euro strengthened against the other major currencies in the Asian session on Friday. The euro rose to a 3-day high of 135.22 against the yen, from yesterday's closing value of 133.86, respectively. Against the pound and the Swiss franc, the euro advanced to 0.7207 and 1.0498 from yesterday's closing quotes of 0.7168 and 1.0454, respectively. Moving away from an early near 2-week low of 1.6342 against the NZ dollar, the euro appreciated to 1.6415. At yesterday's close, the euro was trading at 1.6518 against the kiwi. Against the U.S. and the Canadian dollars, the euro edged up to 1.1088 and 1.4089 from yesterday's closing quotes of 1.1032 and 1.4017, respectively. If the euro extends its uptrend, it is likely to find resistance around 138.00 against the yen,0.74 against the pound, 1.06 against the franc, 1.67 against the kiwi, 1.13 against the greenback and 1.44 against the loonie.

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**InstaForex Gertrude** · 11-07-15, 04:50

Australian dollar steadies as Greece summit impends

The Australian dollar stabilized on Friday before the anticipated eurozone summit on Sunday. Earlier, the Greek government presented a new bailout plan to its lenders, which showed sales tax and pension reductions. The Aussie ended at 67.47 euro cents from Thursday's 67.42 euro cents, and 74.78 US cents from 74.77 US cents.

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**InstaForex Gertrude** · 13-07-15, 07:51

New Zealand dollar saps despite Greek debt woes

The New Zealand dollar devitalized Monday as concern escalated regarding the future of Greece following eurozone leaders amplified their demands for reforms over the weekend. At an emergency summit on Sunday, eurozone leaders pressed Greek officials to revise key tax, pension, and privatization reforms by Wednesday before resuming talks. The kiwi closed at 60.33 euro cents from Friday's 60.92 euro cents, 67.01 US cents from 67.22 US cents, and 43.17 British pence from 43.89 British pence. The currency ended at ¥81.91 from ¥82.31, and 90.29 Australian cents from 90.34 Australian cents. Optimism encompassing a Greek deal has slightly faded this morning, “as euro-zone leaders are yet to formally agree on a path forward,” said Raiko Shareef, Currency Strategist at Bank of New Zealand.

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**InstaForex Gertrude** · 14-07-15, 04:34

Singapore Second Quarter GDP Slows To 1.7%

Singapore's gross domestic product gained 1.7 percent on year in the second quarter of 2015, the Ministry of Trade and Industry said in Tuesday's advance estimate. That was well shy of forecasts for an increase of 3.2 percent and down from the upwardly revised 2.8 percent growth in the first quarter (originally 2.6 percent). Seasonally adjusted and on an annualized quarterly basis, GDP tumbled 4.6 percent - missing by a mile forecasts for an increase of 1.0 percent. GDP had expanded an upwardly revised 4.2 percent on quarter in the three months prior (originally 3.2 percent). The manufacturing sector contracted 4.0 percent on year in the second quarter, extending the 2.7 percent decline in the previous quarter. The contraction was largely due to a fall in output in the biomedical manufacturing and transport engineering clusters. On a quarterly basis, the sector contracted at an annualized rate of 14.0 percent, reversing the 0.4 percent expansion in the three months prior. The construction sector expanded 2.7 percent on year in the second quarter, up from the 2.1 percent growth in the previous quarter. Growth was supported by stronger expansion in public sector construction activities. On a quarterly basis, the sector contracted at an annualized rate of 0.2 percent, in contrast to the 8.3 percent gain in the preceding quarter. Growth in the services producing industries came in at 3.0 percent on year in Q2, easing from 4.2 percent in the previous quarter. The moderation in growth was largely due to slower expansion in the wholesale and retail trade and business services sectors, as well as a contraction in the transportation and storage sector. On a quarterly basis, the services producing industries contracted at an annualized rate of 2.6 percent, reversing the 3.8 percent growth in Q1.

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**InstaForex Gertrude** · 14-07-15, 08:53

Canadian dollar recedes as markets shift focus on BOC, Fed

The Canadian dollar retreated Monday, as markets have turned their attention on the Bank of Canada and Federal Reserve following Greece closed an agreement with its international lenders. Bank of Canada is set to release its interest rate decision Wednesday, while prospects of Fed increasing rates in September were renewed. The loonie finished at 78.49 US cents from Friday's 78.87 US cents. The likelihood of BOC reducing rates is somewhat weighing on the loonie. “That explains some of the early weakness today,” said Mark Chandler, Head of Canadian Fixed Income and Currency Strategy at RBC Capital Markets. Last week, Statistics Canada reported unemployment rate stayed at 6.8% for the fifth consecutive month. The country also gained a net 32,800 jobs.

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**InstaForex Gertrude** · 15-07-15, 05:30

Australia Consumer Confidence Slides In July - Westpac

Consumer confidence in Australia deteriorated further in July, the latest survey from Westpac Bank and the Melbourne Institute revealed on Wednesday - sliding 3.2 percent on month to a seven-month low index score of 92.2. That follows the 6.9 percent plunge in June to a score of 95.3 - still below the boom-or-bust line of 100 that separates optimists from pessimists. Among the individual components, the outlook for economic conditions over the next year tumbled 10.4 percent. For the next five years, the index fell 4.4 percent. The index for if it was a good time to buy a major household item added 0.2 percent.

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**InstaForex Gertrude** · 15-07-15, 08:24

Greek PM says a leader cannot abandon ship during a storm

Greek Prime Minister Alexis Tsipras seemed to rule out stepping down early or conceding power to a national unity government with opposition parties after being forced to abandon election promises and accept painful austerity measures. Tsipras said in an interview with Greek state television that a prime minister had the duty to fight and tell difficult truths and take hard decisions.

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**InstaForex Gertrude** · 16-07-15, 05:27

Singapore Non-Oil Domestic Exports Rise 4.7% In June

Non-oil domestic exports in Singapore were up 4.7 percent on year in June, International Enterprise Singapore said on Thursday. That beat forecasts for an increase of 2.0 percent following the 0.3 percent contraction in May. Electronics exports surged an annual 7.6 percent in June, also topping expectations for a gain of 2.4 percent following the 2.5 percent contraction in the previous month. Non-electronic exports were up 3.6 percent after adding 0.6 percent a month earlier. Non-oil re-exports gained 1.9 percent on year after falling 2.8 percent in May.

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**InstaForex Gertrude** · 17-07-15, 06:04

Australia Leading Index Adds 0.2% In May - Conference Board

The outlook for the Australian economy turned positive again in May, the Conference Board said on Friday, as its leading economic index added 0.2 percent. That follows the 0.3 percent decline in April and the flat reading in March. The LEI got positive contributions from sales to inventory ratio, rural goods exports, yield spread, building approvals and gross operating surplus. Money supply and share prices were down. The coincident index advanced 0.3 percent after gaining 0.1 percent in April and 0.3 percent in March. The CEI got positive contributions from employment, household disposable income and industrial production.

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**InstaForex Gertrude** · 17-07-15, 11:09

British pound surges as traders speculate on interest rate hike

The British pound escalated on Thursday as traders expect the Bank of England to raise interest rates early next year. BOE Governor Mark Carney reiterated a first rate hike since the 2008 financial crash was getting closer and downplayed the effect of a stronger sterling on inflation. The pound traded at 69.64 pence per euro. Against the US dollar, the currency stood at $1.5599. Carney has not been vocal on interest rates, “so that was always going to give sterling a boost," said Angus Campbell, Senior Analyst at FxPro.

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**InstaForex Gertrude** · 20-07-15, 07:59

U.S. Dollar Rises Against Majors

The U.S. dollar strengthened against the other major currencies in the Asian session on Monday. The U.S. dollar rose to a 6-year high of 0.7327 against the Australian dollar, a 3-month high of 0.9630 against the Swiss franc and nearly a 2-month high of 1.0819 against the euro, from Friday's closing quotes of 0.7368, 0.9607 and 1.0827, respectively. The greenback advanced to 1.5582 against the pound and 124.18 against the yen, from last week's closing quotes of 1.5597 and 124.04, respectively. Against the New Zealand and the Canadian dollars, the greenback edged up to 0.6504 and 1.2998 from Friday's closing quotes of 0.6512 and 1.2968, respectively. If the greenback extends its uptrend, it is likely to find resistance around 0.72 against the aussie, 0.97 against the franc, 1.06 against the euro, 1.52 against the pound, 126.00 against the yen, 0.63 against the kiwi and 1.30 against the loonie.

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**InstaForex Gertrude** · 20-07-15, 10:36

Barclays plans to cut more than 30,000 jobs: The Times

The Times on Sunday reported that Barclays Plc intends to slash more than 30,000 jobs within 2 years after firing Chief Executive Antony Jenkins this month. This move could reduce the global workforce of the bank below 100,000 by 2017 end. It is considered as the only way to address the continuing poor performance, the paper said. These job cuts are likely to affect staff at middle and back office operations. The paper said that a potential candidate, who would replace Jenkins, is expected to axe jobs much faster and more deeply than the ejected boss.

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**InstaForex Gertrude** · 21-07-15, 04:39

BoJ Minutes: Economic Recovery Is Still On Track

Members of the Bank of Japan's monetary policy board said that the country's economic recovery continues to grow at a satisfactory pace, minutes from the board's June 18-19 meeting revealed on Tuesday. The recovery is expected to continue, the board said, although downside risks include the European debt situation and the state of commodity exporters. "Japan's economy has continued to recover moderately. Overseas economies - mainly advanced economies -- have been recovering, albeit with a lackluster performance still seen in part," the minutes said. In the battle against deflation, the board said that consumer prices figure to be roughly flat due to falling energy prices. "Inflation expectations appear to be rising on the whole from a somewhat longer-term perspective," the bank said. At the meeting, the bank decided to hold its benchmark lending rate steady at 0.10 percent, and also to maintain its target of raising the monetary base at an annual pace of about 80 trillion yen. The bank also announced plans to reduce monetary policy meetings from 2016, down to eight from the current 14. In addition, it would raise the frequency of its economic outlook reports. Accordingly, it will publish forecasts for the economy and prices on a quarterly basis instead of twice yearly. In terms of economic data, exports have been picking up and steady improvement in the employment and income situation support private consumption. "Quantitative and qualitative monetary easing (QQE) has been exerting its intended effects, and the Bank will continue with QQE, aiming to achieve the price stability target of 2 percent, as long as it is necessary for maintaining that target in a stable manner," the bank said.

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**InstaForex Gertrude** · 23-07-15, 05:46

Japan Has Y69.0 Billion Trade Shortfall In June

Japan posted a merchandise trade deficit of 69.045 billion yen in June, the Ministry of Finance said on Thursday. That missed forecasts for a surplus of 45.8 billion following the downwardly revised 217.2 billion yen deficit in May (originally -215.97 billion). Exports climbed 9.5 percent on year to 6.505 trillion yen, shy of expectations for a gain of 10.0 percent following the 2.4 percent increase in the previous month. Exports to all of Asia jumped 10.1 percent on year to 3.525 trillion yen, while exports to China alone gained an annual 5.9 percent to 1.160 trillion yen. Exports to the United States climbed 17.6 percent on year to 1.302 trillion yen, while exports to the European Union gained an annual 10.8 percent to 665.452 billion yen. Imports dipped an annual 2.9 percent to 6.574 trillion yen versus expectations for a fall of 4.2 percent after tumbling 8.7 percent a month earlier. Imports from all of Asia added 7.0 percent on year to 3.193 trillion yen, while imports from China alone advanced an annual 6.9 percent to 1.571 trillion yen. Imports from the United States surged 14.9 percent on year to 723.707 billion yen, while imports from the European Union added an annual 6.5 percent to 696.294 billion yen. The adjusted trade balance showed a deficit of 251.7 billion yen - which beat expectations for a shortfall of 260.0 billion yen following the upwardly revised 155.2 billion yen shortfall in May (originally -182.5 billion yen).

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**InstaForex Gertrude** · 27-07-15, 06:45

Japan Corporate Service Prices Rise 0.4% In June

Corporate service prices in Japan were up 0.4 percent on year in June, the Bank of Japan said on Monday - shy of estimates for 0.6 percent, which would have been unchanged from the May reading. On a monthly basis, prices were flat after adding 0.1 percent in the previous month. Among the individual components, prices were up for leasing and rental, but down for advertising and civil engineering. For the second quarter of 2015, corporate service prices gained 0.6 percent on year after jumping an annual 3.2 percent in the first quarter. On a quarterly basis, prices advanced 0.4 percent after easing 0.2 percent in the three months prior.

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**InstaForex Gertrude** · 27-07-15, 09:18

Australian dollar remains below 73 US cents

The Australian dollar was still trading below 73 US cents Monday, following it touched a new six-year low last weekend. The Aussie ended at 72.89 US cents from Friday's 73.02 US cents. On Friday, the currency declined to 72.60 US cents, its weakest since May 2009, on disappointing Chinese data.

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**InstaForex Gertrude** · 28-07-15, 08:12

Argentina Industrial Production Falls In June

Argentina's industrial production decreased in June after rising in the previous month, figures from the National Institute of Statistics showed Monday. Industrial production fell a seasonally adjusted 0.8 percent year-over-year in June, reversing a 0.4 percent climb in the previous month. Production of basic metals declined 6.7 percent annually in June, while automobile production grew by 6.8 percent. On a monthly basis, industrial production increased at a faster pace of 1.2 percent in June, following a 0.2 percent slight rise in May. It was the third consecutive monthly hike. During the first six months of the year, aggregate industrial production contracted a seasonally adjusted 1.3 percent compared to the corresponding period last year.

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**InstaForex Gertrude** · 30-07-15, 07:53

Pound Rises Against Most Majors

The British pound strengthened against most major currencies in the Asian session on Thursday. The pound rose to nearly a 5-month high of 1.5119 against the Swiss franc and a 1-week high of 0.7026 against the euro, from yesterday's closing quotes of 1.5092 and 0.7036, respectively. Against the yen, the pound climbed to 193.81 from yesterday's closing value of 193.33. If the pound extends its uptrend, it is likely to find resistance around 1.52 against the franc, 0.69 against the euro and 195.30 against the yen.

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