Forex News (from InstaForex) - page 37
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South Korea Has $4.31 Billion Current Account Surplus
South Korea posted a seasonally adjusted current account surplus of $4.31 billion in August, the Bank of Korea said on Friday - down from the revised $4.42 billion in July (originally $4.38 billion) nut remaining in the black for the seventh consecutive month.
On an unadjusted basis, South Korea saw a four-month low surplus of $2.36 billion, down from the upwardly revised record $6.14 billion in the previous month (originally $6.10 billion).
The goods account surplus narrowed to $2.37 billion from $5.34 billion in July, primarily on a decline in exports, the bank said.
The services account shifted to a deficit of $0.26 billion from its surplus of $0.59 billion in July due mostly to the increase in payments for the use of intellectual property rights.
The primary income account surplus slightly widened from $0.40 billion in July to $0.44 billion, owing mainly to the decrease in dividend payments.
The secondary income account saw a deficit of $0.19 billion. The financial account had a net outflow of $0.64 billion, down from $7.88 billion the previous month.
Direct investment posted a net outflow of $1.61 billion, larger than $1.44 billion the previous month due to an increase in outward investment, the bank noted.
Portfolio investment posted a net inflow of $0.58 billion, smaller than $2.53 billion in July, with the shift to a net outflow of foreign investors' debt securities investment being coupled with the increase as well in residents' foreign bond investments, the bank said - even though inflows of foreign investors' equity securities investment increased.
Other investment switched to a net inflow of $1.43 billion from a net outflow of $7.63 billion in July owing mostly to domestic financial institutions' shift to a net withdrawal of loans.
Reserve assets increased by $1.12 billion, while the capital account recorded a net inflow of $0.01 billion.
Through the first eight months of the year, the current account surplus was $22.25 billion, already beating forecasts for $20 billion for all of 2012.
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Japanese Yen Rises Against Franc And Pound
The Japanese yen advanced against the Swiss franc and the pound in early Asian deals on Monday.
The yen gained to 125.59 against the pound from Friday's close of 126.01. The next upside target level for the yen is seen at 125.00.
Against the franc, the yen hit a 4-day high of 82.61 and the next resistance level for the yen is seen at 82.00.
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Japan September Monetary Base +9.0% On Year
The monetary base in Japan jumped 9.0 percent on year in September, the Bank of Japan said on Tuesday, standing at 124.326 trillion yen. That follows the 6.5 percent increase in August.
Banknotes in circulation added an annual 2.3 percent, while coins in circulation collected 0.4 percent. Current account balances spiked 27.6 percent on year, including a 30.0 percent surge in reserve balances.
The adjusted monetary base soared 45.4 percent on year to 123.991 trillion yen.
For the third quarter of 2012, the monetary base jumped 8.0 percent on year.
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NZ Dollar Declines Against Most Majors
During the early Asian session on Wednesday, the New Zealand dollar fell against its most major currencies.
The kiwi fell to a 2-day low of 64.45 against the yen, compared to yesterday's close of 64.71.
The NZ currency also hit 1-week lows of 0.8236 against the greenback and 1.5679 against the euro.
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Australia Building Approvals Up 6.4%
Building approvals in Australia increased 6.4 percent month-on-month in August, data from the Australian Bureau of Statistics showed Thursday.
The number of approvals totaled 12,046 during the month on a seasonally adjusted basis. The number of private sector houses approved, meanwhile, declined 0.5 percent month-on-month to 7,314.
Year-on-year, total building consents plunged 15.4 percent on a seasonally adjusted basis, the bureau said.
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Yen Trades Lower Against Majors
The Japanese yen weakened against other major currencies in the early Asian session on Friday.
The yen declined to a 3-day low of 80.59 against the aussie, 2-week lows of 127.24 against the pound and 80.13 against the loonie.
Against the franc and the euro, the yen hit more than 2-week lows of 84.47 and 102.30, respectively.
The Japanese currency fell to 78.58 against the greenback, compared to yesterday's close of 78.49.
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U.S. Dollar Advances Against Franc And Euro
The U.S. dollar edged up against the Swiss franc and the euro in the Asian session on Monday.
The greenback ticked up to 0.9324 against the franc and the greenback may test upside target level at 0.935.
At 10:20 pm ET, the greenback gained to 1.3003 per euro with 1.295 seen as the next upside target level.
Japan Has Y454.7 Billion Current Account Surplus
Japan posted a current account surplus of 454.7 billion yen in August, the Ministry of Finance said on Tuesday, up 4.2 percent on year.
The headline figure beat forecasts for a surplus of 421.1 billion yen (down 3.7 percent) but declined from the surplus of 625.4 billion (-40.6 percent) yen in July.
The trade balance reflected a deficit of 644.5 billion yen, down 6.6 percent on year. That missed forecasts for a shortfall of 628.6 billion yen after showing a 373.6 billion yen deficit in the previous month.
Exports were down 5.3 percent on year to 4.844 trillion yen in August. That follows the 7.4 percent fall in July, which came in at 5.118 trillion yen.
Imports dipped 5.4 percent on year to 5.488 trillion yen in the previous month, after posting an annual increase of 1.9 percent in July to 5.491 trillion yen.
Goods and services saw a deficit of 867.0 billion yen in August after showing a shortfall of 719.7 billion yen a month earlier.
The financial account saw a deficit of 1.090 trillion yen, while the capital account posted a shortfall of 56.7 billion yen.
The adjusted current account showed a surplus of 722.3 billion yen, beating forecasts for a surplus of 520.0 billion yen after coming in at 335.4 billion yen a month earlier.
Upon the release of the data, the Japanese yen showed little changes against major rivals, trading near 101.58 against the euro, 78.32 versus the U.S. dollar, 125.53 against the British pound and 83.95 versus the Swiss franc.
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How do you think this will impact Yen?
China's Manufacturing Sector Expands In November
China's manufacturing sector expanded in November, preliminary results of a survey by Markit Economics showed Thursday.
The headline Markit/HSBC purchasing managers' index rose to 50.4 in November from 49.5 in October. This was the highest reading for the index in 13 months.
A PMI reading above 50 indicates expansion of the sector, while a reading below 50 suggests contraction.
The manufacturing output index also climbed to a 13-month high of 51.3 from 48.2 in October.
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