Forex News from InstaForex

**InstaForex Gertrude** · 25-11-20, 06:28

AUSTRALIA CONSTRUCTION WORK FALLS 2.6% IN Q3

The total value of construction work done in Australia was down a seasonally adjusted 2.6 percent on quarter in the third quarter of 2020, the Australian Bureau of Statistics said on Wednesday - coming in at A$51.179 billion.

That missed expectations for a fall of 2.0 percent following the 0.7 percent decline in the previous three months.

On a yearly basis, the value of construction was down 4.2 percent.

Building work was down 2.0 percent on quarter and 7.2 percent on year at A$28.971 billion.

Residential work was down 1.0 percent on quarter and 8.9 percent on year, while non-residential work fell 3.4 percent on quarter and 4.5 percent on year. Engineering work sank 3.3 percent on quarter but gained 0.1 percent on year.

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**InstaForex Gertrude** · 26-11-20, 06:26

DOLLAR STAYS WEAK AGAINST PEERS

The U.S. dollar was weak against most of its peers on Wednesday, reacting to recent updates on potential coronavirus vaccine and the latest batch of economic data.

According to data released by the Labor Department, first-time claims for U.S. unemployment benefits unexpectedly increased in the week ended November 21st, climbing to 778,000, an increase of 30,000 from the previous week's revised level of 748,000. Economists had expected jobless claims to drop to 730,000 from the 742,000 originally reported for the previous week.

A report from the Commerce Department said durable goods orders jumped by 1.3% in October after spiking by 2.1% in September. Economists had expected durable goods orders to climb by 0.9%.

Another report from the Commerce Department showed the spike in gross domestic product in the third quarter was 33.1%, unrevised from the initial estimate.

Personal income in the U.S. fell by 0.7% in October after climbing by a downwardly revised 0.7% in September. Meanwhile, the report said personal spending rose by 0.5% in October after jumping by a revised 1.2% in September.

Yet another report from the same department said new home sales in the U.S. unexpectedly dipped by 0.3% to an annual rate of 999,000 in October after inching up by 0.1% to a revised rate of 1.002 million in September.

Revised data released by the University of Michigan on Wednesday showed consumer sentiment in the U.S. deteriorated by slightly more than expected in the month of November, with the index coming in at 76.9 down from a preliminary reading of 77.0.

The dollar index, which fell to a low of 91.93 in the European session, continues to trade weak despite making a couple of attempts to pare losses. At 91.99, the dollar index is now down 0.25% from previous close.

Against the Euro, the dollar weakened to $1.1914, despite firming up to $1.1883 in the Asian session.

The Pound Sterling is stronger by 0.15%, fetching $1.3383 a unit, compared to $1.3363 on Tuesday.

The Yen is little changed at 104.47 a dollar.

The Aussie is roughly flat against the greenback, with the AUD-USD pair quoting at 0.7365.

The Swiss franc is up at 0.9085 a dollar, more than 0.3% up from its previous close of 0.9113, while the Loonie is at 1.3008 a dollar, down from 1.2998.

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**InstaForex Gertrude** · 27-11-20, 07:06

CHINA'S INDUSTRIAL PROFITS SURGE IN OCTOBER

China's industrial profits expanded strongly in October as the economy showed signals of robust rebound from the coronavirus driven downturn, data from the National Bureau of Statistics showed Friday.

Industrial profits advanced 28.2 percent on a yearly basis in October. This was the sixth consecutive rise in profits.

During January to October period, industrial profits gained 0.7 percent from the same period last year.

Data revealed that profits of state-owned enterprises decreased 7.2 percent annually, while that of private firms climbed 1.1 percent in ten months ended October.

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**InstaForex Gertrude** · 02-12-20, 06:34

SOUTH KOREA INFLATION CLIMBS 0.6% ON YEAR IN NOVEMBER

Consumer prices in South Korea were up 0.6 percent on year in November, Statistics Korea said on Wednesday.

That missed forecasts for an increase of 0.9 percent but was up from 0.1 percent in the previous month.

On a monthly basis, inflation eased 0.1 percent - again shy of expectations for an increase of 0.2 percent but improving from the 0.6 percent contraction in October.

Core CPI, which excludes volatile food costs, gained an annual 0.6 percent after slipping 0.3 percent a month earlier.
utlook for jobs and inflation. The board said it is prepared to do more if necessary.

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**InstaForex Gertrude** · 03-12-20, 07:06

CHINA SERVICES SECTOR PICKS UP STEAM IN NOVEMBER - CAIXIN

The services sector in China continued to expand in November, and at a faster rate, the latest survey from Caixin showed on Thursday with a services PMI score of 57.8.

That's up from 56.8 in October, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

Individually, there was a substantial rise in business activity amid the quickest increase in new work since 2010.

Employment growth was also at its strongest in 10 years, as were input costs. The survey also showed that its composite index improved to 57.5 in November from 55.7 in October.

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**InstaForex Gertrude** · 07-12-20, 06:13

CHINA EXPORTS SURGE IN NOVEMBER

China's exports surged in November driven by robust global demand, data from the General Administration of Customs showed on Monday.

Exports advanced 21.1 percent year-on-year in November, much bigger than the economists' forecast of 12 percent.

At the same time, imports grew moderately by 4.5 percent annually, which was also faster than the 6.1 percent increase expected by economists.

As a result, the trade surplus increased to $75.4 billion in November. Economists had forecast the surplus to fall to $53.5 billion from $58.44 billion in the previous month.

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**InstaForex Gertrude** · 08-12-20, 06:31

AUSTRALIA TOTAL DWELLING APPROVALS +3.8% ON MONTH IN OCTOBER

The total number of building permits issued in October was up a seasonally adjusted 3.8 percent on month in October, the Australian Bureau of Statistics said on Tuesday - standing at 16,584.

Permits for private sector house increased 3.1 percent on month to 10,692, while permits for private sector dwellings excluding houses jumped 6.2 percent to 5,529.

On a yearly basis, overall permits rose 14.3 percent, private sector houses surged 31.7 percent and private sector dwellings excluding houses dropped 10.6 percent.

The value of total building approved rose 26.1 percent on month in October. Non-residential building drove the increase, rising 58.6 percent, having fallen 35.4 percent in September. The value of total residential building increased 9.4 percent in October.

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**InstaForex Gertrude** · 09-12-20, 06:49

EUROPEAN ECONOMICS PREVIEW: GERMANY'S FOREIGN TRADE DATA DUE

Foreign trade data from Germany is due on Wednesday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis is scheduled to issue Germany's foreign trade figures for October. Exports are forecast to climb 1.2 percent on month, slower than September's 2.3 percent increase. Meanwhile, imports are expected to rise 1 percent, reversing a 0.1 percent fall.

At 3.00 am ET, Spain's INE releases industrial production data for October. Economists expect the production to fall 2.6 percent on year, following a 3.4 percent decrease in September.

In the meantime, foreign trade from Austria, Slovakia and Hungary are due. Slovakia's trade surplus is seen at EUR 724.8 million in October versus EUR 707.9 million a month ago.

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**InstaForex Gertrude** · 10-12-20, 06:23

PHILIPPINES OCTOBER TRADE DEFICIT $1,776 BILLION

The Philippines posted a merchandise trade deficit of $1.776 billion in October, the statistics office said on Thursday.

That follows the $1.707 billion shortfall in the previous month.

Exports were down 2.2 percent on year after rising 2.2 percent in September.

Imports plummeted an annual 19.5 percent after slipping 16.5 percent a month earlier.

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**InstaForex Gertrude** · 11-12-20, 06:34

NEW ZEALAND FOOD PRICES FALL AS BORDER RESTRICTIONS DAMPEN EXPORTS

New Zealand food prices declined in November as the Covid-19 restrictions reduced exports, Stats NZ said Friday.

Food prices fell 0.9 percent month-on-month in November, bigger than the 0.7 percent drop posted in October.

Rising air freight costs since the coronavirus border closures has made exporting products much more expensive. Moreover, shortage of international workers in the fruit picking industry has meant that growers cannot pick their fields fast enough, data revealed.

"With less exports there is more supply available for domestic consumption, causing lower prices," consumer prices manager Katrina Dewbery said.

"Prices are lower than we typically see for a November month with December generally being when they are cheapest. Some people may be seeing even cheaper prices during the first half of December," Dewbery said.

Despite a sharp 43 percent decrease in strawberry prices, fruit prices advanced 5.2 percent, while vegetable prices dropped 9.9 percent.

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**InstaForex Gertrude** · 17-12-20, 07:07

SINGAPORE NODX SLIDE IN NOVEMBER

Non-oil domestic exports in Singapore dropped 4.9 percent on year in November, Enterprise Singapore said on Thursday - missing forecasts for a gain of 2.0 percent following the 3.1 percent drop in October.

On a monthly basis, NODX slid 3.8 percent - again shy of expectations for a gain of 6.2 percent following the 5.4 percent decline in the previous month.

The decline was mainly due to decreases among petrochemicals, pharmaceuticals, non-monetary gold and electronics.

NODX to the top 10 markets as a whole decreased in November, although exports to the United States, Japan, Taiwan, Malaysia, Thailand and Hong Kong increased.

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**InstaForex Gertrude** · 22-12-20, 08:00

EUROPEAN ECONOMICS PREVIEW: UK GDP DATA DUE

Quarterly national accounts and public sector finances from the UK are due on Tuesday, headlining a light day for the European economic news.

At 2.00 am ET, the Office for National Statistics publishes UK GDP and public sector net borrowing figures for November. GDP is forecast to expand 15.5 percent sequentially in the third quarter, as initially estimated.

The budget deficit is forecast to widen to GBP 27.3 billion in November from GBP 21.58 billion in October.

In the meantime, Germany's Gfk consumer confidence survey results are due. The forward-looking consumer confidence index is seen at -8.8 in January versus -6.7 in December. At 3.00 am ET, the National Institute of Economic Research is set to publish Sweden's economic tendency survey results.

Half an hour later, Statistics Sweden releases producer prices and retail sales for November.

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**InstaForex Gertrude** · 23-12-20, 07:06

UK CAR PRODUCTION DECLINES IN NOVEMBER: SMMT

UK car production declined in November, data released by the Society of Motor Manufacturers and Traders, or SMMT, showed Wednesday.

Car manufacturing decreased 1.4 percent annually to 106,243 units in November.

Output for domestic markets dropped 10.4 percent, while that for exports gained marginally by 0.3 percent.

The annual decline in production masks a particularly weak November 2019 when precautionary factory shutdowns in anticipation of a potential 'no deal' Brexit on October 31, depressed output.

Year-to-date production was down -31.0 percent with 380,809 fewer cars manufactured in 2020. This puts the industry on course to produce fewer than a million cars this year for only the second time since the early eighties, the lobby noted.

Around 85 percent of cars built in November were manufactured for exports, highlighting the critical importance of free and fair trade with global markets to UK car makers.

Yet another decline for UK car production is of course concerning, but not nearly as concerning as the New Year nightmare facing the automotive industry if we do not get a Brexit deal that works for the sector, Mike Hawes, SMMT chief executive, said.

"With just nine days to go, the threat of 'no deal' is palpable and the sector, now also reeling from the latest coronavirus resurgence, Tier 4 showroom lockdowns and disruption at critical UK ports, needs more than ever the tariff-free trading arrangements on which our competitiveness is founded, Hawes added.

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**InstaForex Gertrude** · 25-12-20, 06:33

JAPAN'S HOUSING STARTS FALL AT SLOWER PACE

Japan's housing starts continued to decline in November albeit at a slower pace, data from the Ministry of Land, Infrastructure, Transport and Tourism showed on Friday.

Housing starts were down 3.7 percent on year, following October's 8.3 percent decline. This was also better than the expected decrease of 4.9 percent.

Annualized housing starts rose to 820,000 in November from 802,000 in the previous month.

Further, data showed that construction orders received by the big 50 contractors decreased 4.7 percent on a yearly basis, bigger than the 0.1 percent fall posted in October.

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**InstaForex Gertrude** · 29-12-20, 06:39

SINGAPORE TRADE DATA DUE ON TUESDAY

Singapore will on Tuesday release November numbers for imports, exports and trade balance, highlighting a light day for Asia-Pacific economic activity.

In October, imports were down 7.6 percent on year and exports sank an annual 8.0 percent, while producer prices tumbled 9.6 percent on year.

The Philippines will see November figures for producer prices; in October, prices were down 3.3 percent on year.

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**InstaForex Gertrude** · 31-12-20, 07:08

CHINA'S MANUFACTURING SECTOR GROWTH MODERATES IN DECEMBER

China's manufacturing sector growth moderated at the end of the year, survey data from the National Bureau of Statistics showed Thursday.

The official manufacturing Purchasing Managers' Index fell to 51.9 from 52.1 in November.

The score was forecast to drop marginally to 52.0. However, a reading above 50 indicates expansion in the sector.

The export order sub-index in manufacturing eased to 51.3 from 51.5 in November.

The non-manufacturing PMI that measures sentiment in the services and construction sectors declined to 55.7 in December from 56.4 a month ago.

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**InstaForex Gertrude** · 06-01-21, 07:16

SINGAPORE PRIVATE SECTOR CLIMBS INTO EXPANSION - MARKIT

The private sector in Singapore moved into expansion territory in December, the latest survey from Markit Economics showed on Wednesday with a PMI score of 50.5.

That's up from 46.7 in November, and it moves above the boom-or-bust line of 50 that separates expansion from contraction.

Individually, new orders increased for the first times since January with respondents mentioning stronger demand, a rise in e-commerce sales and promotional activity.

New orders from oversea markets also rose, and at the strongest rate since November 2018. Subsequently, firms raised output during December, which rebounded from November's relatively solid contraction.

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**InstaForex Gertrude** · 07-01-21, 07:06

AUSTRALIA HAS A$5.022 BILLION TRADE SURPLUS IN NOVEMBER

Australia had a merchandise trade surplus of A$5.022 billion in November, the Australian Bureau of Statistics said on Thursday.

That was shy of expectations for a surplus of A$6 billion and down from the downwardly revised A$6.583 billion in October (originally A$7.456 billion).

Imports were up 10 percent on month after gaining an upwardly revised 2 percent in the previous month (originally 1 percent).

Exports rose 3 percent on month, slowing from the downwardly revised 4.4 percent gain a month earlier (originally 5 percent).

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**InstaForex Gertrude** · 08-01-21, 07:14

EUROPEAN ECONOMICS PREVIEW: GERMAN INDUSTRIAL OUTPUT, FOREIGN TRADE DATA DUE

Industrial production and foreign trade figures are due from Germany on Friday, headlining a busy day for the European economic news.

At 1.45 am ET, Swiss unemployment data is due. The jobless rate is seen at 3.5 percent in December versus 3.4 percent in November.

At 2.00 am ET, Destatis is slated to issue Germany's industrial production and external trade data. Exports are forecast to grow 0.8 percent on month in November, the same rate as seen in October. The annual growth in imports is seen rising to 0.4 percent from 0.3 percent.

Industrial production is expected to climb 0.7 percent on month in November versus a 3.2 percent rise in October.

In the meantime, industrial production from Norway and foreign trade from Finland are due.

At 2.45 am ET, the French statistical office Insee is slated to issue consumer spending and industrial production data for November. Also, foreign trade and current account figures are due from France.

At 3.00 am ET, industrial production from Hungary and foreign trade from Slovakia are due. In the meantime, the Czech Statistical Office releases third quarter GDP data and industrial output.

Half an hour later, UK Halifax house price data is due. Economists expect house prices to climb 0.5 percent on month in December, slower than the 1.2 percent rise seen in November.

Also, industrial production and new orders are due from Statistics Sweden.

At 4.00 am ET, Italy's unemployment data is due for November. The rate stood at 9.8 percent in October.

At 5.00 am ET, Eurostat is set to publish euro area unemployment data for November. The jobless rate is expected to rise to 8.5 percent from 8.4 percent in October.

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**InstaForex Gertrude** · 12-01-21, 07:17

JAPAN HAS Y1,878.4 BILLION CURRENT ACCOUNT SURPLUS

Japan posted a current account surplus of 1,878.4 billion yen in November, the Ministry of Finance said on Tuesday.

That exceeded expectations for a surplus of 1,551 billion yen and was down from 2,144.7 billion yen in October.

Exports were down 3.4 percent on year to 6.039 trillion yen, while imports sank an annual 13.6 percent to 5.423 trillion yen. The trade balance showed a surplus of 616.1 billion yen.

The capital account showed a surplus of 2.1 billion yen and the financial account had a surplus of 1,593.3 billion yen.

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