Forex News (from InstaForex) - page 132
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Australia Retail Sales Rise Just 0.1% In June
The total value of retail sales in Australia was up a seasonally adjusted 0.1 percent on month in June, the Australian Bureau of Statistics said on Thursday - coming in at A$25.043 billion.
That was shy of expectations for a gain of 0.3 percent following the 0.2 percent gain in May.
For the second quarter of 2016, retail sales advanced 0.4 percent on quarter to A$72.682 billion.
That also was below expectations for 0.5 percent, which would have been unchanged from the three months prior.
News are provided byInstaForex.
MetLife Profit Fails to Hit Estimates on Weaker Underwriting
United States' biggest life insurer MetLife Inc. posted a quarterly profit that distinctly missed analysts' projections, mainly due to weaker underwriting and tax-related adjustment in two of its biggest markets. The company's net income plunged 94% to $64 million or 6 cents per share in the second quarter. Total operating earning in Americas also dropped 42% to $835 million, while Asian operating earnings descended 39% to $259 million. On an operating basis, the company earned 83 cents per share, below analysts estimates of $1.35. MetLife's earnings in the Americas were affected by weaker underwriting, while earnings from Japan were weighed down by the firm's decision to lower the sale of yen-denominated products and tax-related adjustments. The firm stated in January that it plans to split a significant portion of its U.S. Retail business due to the regulatory conditions.
News are provided byInstaForex.
Fxwirepro: Aussie Gains Against Major Peers After Rba?s Monetary Policy Statements
AUD/NZD is currently trading around 1.0641 marks.
Pair made intraday high at 1.0647 and low at 1.0619 marks. Intraday bias remains bullish till the time pair holds key support at 1.0623 levels.
In addition, a sustained close above 1.0623 will drag the parity higher towards 1.0727/1.0823/1.0976 (January 2016 high) /1.1062 (30D EMA) /1.1123/1.1298/1.1317 levels respectively.
Alternatively, a sustained break below 1.0588 mark will take the parity down towards key supports around 1.0497, 1.0450, 1.0420, 1.0315(May 05, 2015 low), 1.0261 and 1.0109 marks respectively. Important to note here that in a daily chart, 20D, 30D and 55D EMA heads down and confirms the bearish trend. Current upside movement is short term trend correction only.
RBA: Underlying inflation to remain under 2 pct for much of forecast period, reach 2 pct by end 2018.
RBA: Prospects for economy positive, but low inflation allows for "even stronger growth". RBA says A$ remains significant source of uncertainty for inflation, growth forecasts.
RBA forecasts underlying inflation 1.5 pct by end 2016, 1.5-2.5 pct end 2017, 1.5-2.5 pct end 2018.
RBA forecasts GDP growth 2.5-3.5 pct end 2016, 2.5-3.5 pct end 2017, 3-4 pct end 2018.
RBA says unemployment to fall only a little out to 2018, employment growth to be modest this year.
RBA quarterly statement repeats policy easing to help foster growth, offers no forward guidance.
News are provided byInstaForex.
Bank of England Cuts Benchmark Interest Rate to 0.25 Percent
The Bank of England lowered its benchmark rate to a historical low and revived a bond-buying scheme to help prop up the UK economy from the impact of the Brexit vote.
On Thursday, the bank announced an unexpectedly large stimulus package. First, the bank lowered its benchmark interest rate to 0.25% down from 0.5% and it sees further cuts toward zero in the following months. Second, it revived a U.K. government bonds purchasing program that has been halted since 2012, and added that it would start buying corporate bonds as well. A new term-funding program for banks was also announced, providing lenders with extremely cheap four-year loans to fund lending to households and enterprises. The rate cut was supported with a unanimous vote, while 3 voted against the bond purchasing scheme.
The bank also lowered its growth forecast for 2017 sharply, recording the largest downgrade since it started releasing such projections in 1993. It lowered its growth forecast for next year from 2.3% in May to 0.8% and pared off its 2018 projections from 2.3% to 1.8%
News are provided byInstaForex.
Fitch Retains Austria's Rating At 'AA+'
Fitch Ratings affirmed sovereign ratings of Austria at 'AA+' with stable outlooks late Friday.
The rating agency said the economic growth is expected to remain on a steady upward trend and average 1.6 percent in 2016-17 after four years of sluggish activity.
The underlying growth is forecast to pick up in 2017 as investment continues its steady recovery and net exports make a positive contribution to growth.
The fiscal deficit was better than expected in 2015 at 1.1 percent of GDP compared with a 1.9 percent target, Fitch said.
Further, the agency estimates Austria's fiscal policy to remain prudent, producing small primary general government surpluses during 2016-2018.
News are provided byInstaForex.
Japan Bank Lending +2.1% On Year In July
Overall bank lending in Japan was up 2.1 percent on year in July, the Bank of Japan said on Monday - standing at 499.590 trillion yen.
That was above forecasts for 2.0 percent, which would have been unchanged from the June reading.
Excluding trusts, bank lending also added an annual 2.1 percent to 434.309 trillion yen. That also was above expectations for 2.0, which would have been unchanged.
Lending from trusts climbed 2.3 percent for the second straight month.
News are provided byInstaForex.
Oil Prices Climb on Revived Output Restrain Talks by OPEC Members
Oil prices advanced on Monday, elevating on reports of revived talks by some members of the Organization of the Petroleum Exporting Countries to curb output.
U.S. WTI crude oil futures climbed 0.5% from their last close, up by 21 cents at $42.01 per barrel while Brent crude futures were up 0.29% by 13 cents at $44.40 per barrel.
The increase in prices were brought on by the renewed calls by several OPEC members to halt production in an effort to restrain output that is persistently outpacing demand. OPEC members including Kuwait, Ecuador and Venezuela are perceived to be behind the renewed talks according to analysts. However, sentiment is continued to be weighed down by the increase in U.S. drilling with rigs operating in the country reported to be currently at its highest number since March.
News are provided byInstaForex.
China CPI +1.8% On Year In July
Consumer prices in China were up 1.8 percent on year in July, the National Bureau of Statistics said on Tuesday.
That was in line with expectations and down from 1.9 percent in June.
Prices for food jumped an annual 3.3 percent, while non-food prices added 1.4 percent.
The bureau also said that producer prices were down 1.7 percent on year - exceeding expectations for -2.0 percent after tumbling 2.6 percent in the previous month.
News are provided byInstaForex.
U.S. Stocks Retreat From Record Highs
U.S. equities climbed down from record highs on Monday as losses in healthcare shares pared gains due to elevated oil prices and a strong performance by the U.S. jobs market in July.
The benchmark S&P 500 touched a record intraday high at the beginning of trading day before closing down at 0.09% at 2.180. 89 while the Dow Jones industrial average was down 0.08%, closing at 18, 529.29. The Nasdaq Composite fell 0.15% to 5, 213.14.
Seven out of the 10 key S&P indexes slid, with the healthcare group leading the losses. Bristol-Myers led the drop and fell for the second day, losing 4.71% following its statement on Friday that its lung-cancer treatment drug did not pass a vital late-stage study.
Meanwhile, the energy index advanced 1.22% with Exxon Mobil and Schlumberger climbing 1.18% and 1.6% respectively.
News are provided byInstaForex.
Australia Home Loans Add Just 1.2% In June
The total number of dwelling commitments in Australia issued in June was up a seasonally adjusted 1.2 percent on month, the Australian Bureau of Statistics said on Wednesday - coming in at 57,247.
The headline figure was shy of estimates for an increase of 2.3 percent following the upwardly revised 0.8 percent contraction in May (originally -1.0 percent).
Investment lending climbed 3.2 percent to A$11.785 billion after rising 5.3 percent in the previous month.
News are provided byInstaForex.