Forex News from InstaForex

[InstaForex Gertrude]

Japan August Trade Surplus Y113.642 Billion

Japan posted a merchandise trade surplus of 113.642 billion yen in August, the Ministry of Finance said on Wednesday.

That beat forecasts for a surplus of 104.4 billion yen, although it was down from 418.8 billion yen in July.

Exports climbed 18.1 percent on year to 6.278 trillion yen, beating forecasts for a gain of 14.3 percent and up from 13.4 percent in the previous month.

Exports to Asia climbed 19.9 percent on year to 3.510 trillion yen, while exports to China alone advanced an annual 25.8 percent to 1.218 trillion yen.

Exports to the United States gained 21.8 percent on year to 1.183 trillion yen and exports to the European Union added an annual 13.7 percent to 671.783 billion yen.

Imports picked up an annual 15.2 percent to 6.164 trillion yen versus expectations for 11.6 percent and down from 16.3 a month earlier.

Imports from Asia jumped 15.2 percent on year to 2.995 trillion yen, while imports from China alone gained an annual 11.0 percent to 1.458 trillion yen.

Imports from the United States were up 5.7 percent to 648.748 billion yen, while imports from the European Union gained 12.3 percent to 756.342 billion yen.

The adjusted trade surplus was 367.3 billion yen, missing expectations for 404.7 billion yen and up from 363.1 billion yen in July.

News are provided by InstaForex

[IFX Yvonne]

Gold Falls to 3-Week Low, Weighed Down by Fed Outlook



Gold prices dropped to its weakest level in more than three weeks on Thursday as the stronger U.S. dollar and the increased chances of another Federal Reserve interest rate rise this year have reduced demand.

Spot gold fell 0.2 percent at $1,298.61 per ounce, after earlier falling to its lowest since late August at $1,295.65.

U.S. gold futures for December delivery shed one percent to $1,302.10 per ounce.

The precious metal initially moved higher in the minutes ahead of the Fed's statement, then reversed course and dropped. It briefly plunged below the $1,300 mark that traders had viewed as psychological support. Bullion reached $1,295.81 per ounce, the lowest since Aug. 28.

According to Bill O'Neill, co-founder of Logic Advisors, speculative investors had increased their net long position in gold for nine consecutive weeks, making the market vulnerable to more selling.

The dollar firmed as Asian shares fell marginally following the Fed's announcement to begin reducing its balance sheet and indicated one more rate rise in 2017.

U.S. allies recently said that enforcing international sanctions on North Korea, and not mere dialogue, was the key to getting Pyongyang to give up its nuclear weapons.