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South Korea Money Supply Growth Eases Further
South Korea's money supply growth slowed for the third straight month in December, preliminary figures from the Bank of Korea showed Monday. M2, a broad measure of money supply, rose 7.5 percent year-over-year in December, slower than the 7.7 percent spike in the previous month. On a monthly basis, M2 money supply dropped slightly by 0.1 percent at the end of the year, reversing a 0.4 percent increase in November. At the same time, annual growth in liquidity quickened to 8.3 percent in December from 7.8 percent in the preceding month. Liquidity of financial institutions grew at a slower pace of 8.9 percent yearly in December, following a 9.2 percent hike a month earlier.
News are provided byInstaForex.
South Korea Money Supply Growth Eases Further
South Korea's money supply growth slowed for the third straight month in December, preliminary figures from the Bank of Korea showed Monday. M2, a broad measure of money supply, rose 7.5 percent year-over-year in December, slower than the 7.7 percent spike in the previous month. On a monthly basis, M2 money supply dropped slightly by 0.1 percent at the end of the year, reversing a 0.4 percent increase in November. At the same time, annual growth in liquidity quickened to 8.3 percent in December from 7.8 percent in the preceding month. Liquidity of financial institutions grew at a slower pace of 8.9 percent yearly in December, following a 9.2 percent hike a month earlier.
News are provided byInstaForex.
Singapore Airlines expects global economic weakness to dent premium traffic
Singapore Airlines is expecting weakness in the global economy to affect its premium air traffic, its chief executive officer Goh Choon Phong said on Monday. Phonh said, "we are still seeing the demand in this segment on our routes anyway, to be fairly strong”. SI's business model hinges on using its hub at Singapore's Changi Airport to connect passengers within Asia and to Europe, Australia and the U.S.
News are provided byInstaForex.
Canadian Dollar Rises Against Most Majors
The Canadian dollar strengthened against most majors in the Asian session on Tuesday. The Canadian dollar rose to near 2-week highs of 1.3773 against the U.S. dollar and 1.5372 against the euro, from yesterday's closing quotes of 1.3832 and 1.5428, respectively. Against the yen, the loonie advanced to a 1-week high of 83.24 from yesterday's closing value of 82.79. If the loonie extends its uptrend, it is likely to find resistance around 1.36 against the greenback, 1.49 against the euro and 87.00 against the yen.
News are provided byInstaForex.
Australia Company Profits Fall 2.8% In Q4
Company operating profits in Australia were down a seasonally adjusted 2.8 percent on month in the fourth quarter of 2015, the Australian Bureau of Statistics said on Monday. That missed forecasts for a decline of 1.8 percent following the upwardly revised 1.4 percent increase in the third quarter )originally 1.3 percent). The manufacturing sales of goods and service fell 2.0 percent on quarter and 8.4 percent on year. The wholesale trade sales of goods and services gained 1.6 percent on quarter and 3.0 percent on year. Inventories dipped 0.4 percent on quarter versus expectations for a gain of 0.1 percent following the flat reading in the three months prior. They were up 0.2 percent on year. The seasonally adjusted estimate for wages and salaries rose 0.5 percent on quarter and 2.8 percent on year in Q4. Also on Monday: . The Reserve Bank of Australia said that total credit to the private sector in Australia was up 0.5 percent on month in January, in line with expectations and unchanged from the previous month. On a yearly basis, credit advanced 6.5 percent - also matching forecasts after rising 6.6 percent in the previous month. Individually, housing credit added 0.5 percent on month and 7.3 percent on year, while personal credit dipped 0.2 percent on month and on year and business credit gained 0.6 percent on month and 6.2 percent on year. The M3 money stock added 0.8 percent on month and 6.5 percent on year, while broad money gained 0.8 percent on month and 6.6 percent on year. . The latest forecast from the Melbourne Institute revealed that consumer prices in Australia are predicted to have eased 0.2 percent on month in February. In January, the forecast called for a 0.4 percent decline on month. On a yearly basis, inflation is pegged at 2.1 percent - down from 2.3 percent in the previous month, but still barely within the Reserve Bank of Australia's target range of 2 to 3 percent. Fuel costs were the key driver, tumbling 5.6 percent in the month.
News are provided byInstaForex.
Global business leaders say Brexit is bad for Britain
World business leaders have pressed the United Kingdom to remain in the European Union, saying several complications may surface in case people vote to leave the bloc. China's richest man Wang Jianlin, the person behind One Nine Elms development in Battersea and who owns Sunseeker, said a Brexit is won't be a good choice for Britain and separation would result in more complications for investors. Qantas Chief Executive Alan Joyce echoed the billionaire's remarks, highlighting the economic interest of the country and the union to stay together. A Fidelity survey stated two-thirds of senior executives at British and European companies believed an EU exit would negatively affect their companies.
News are provided byInstaForex.
Taiwan Manufacturing Sector Turns To Contraction - Nikkei
The manufacturing sector in Taiwan swung to contraction in February, the latest revision from Nikkei showed on Tuesday with a PMI score of 49.4. That was down from 50.6 in January, and it slips beneath the boom-or-bust line of 50 that separates expansion from contraction. Among the individual components of the survey, output and new orders both contracted for the first time in three months. Outstanding work declined at its fastest rate since August, while deflationary pressures eased but remain marked.
News are provided byInstaForex.
Usd/sgd Trading in Range
USD/SGD last 1.3780-85, traded 1.3744-82 range so far
Pair may trade in range amid 1.3750-1.3850 intraday
News are provided byInstaForex.
Investors anxious on bets ECB to push rate into negative territory
Investors are worried the European Central Bank will push the interest rate further into negative territory when they convene Thursday. The central bank's action will likely pull down government bond yields, further slashing borrowing costs which are already near record lows in several countries. But many traders cautioned trading may be volatile and markets could be roiled in case the ECB implements less stimulus than projected. Analysts and portfolio managers were still skeptical regarding the effectiveness of negatives rates in bolstering economic growth and inflation, expressing concerns about unintended consequences.
News are provided byInstaForex.
Japan Q4 GDP Revised Up To -1.1% On Year
Japan's gross domestic product was down an annualized 1.1 percent on year in the fourth quarter of 2015, the Cabinet Office said in Tuesday's revised reading. That beat forecasts for a decline of 1.6 percent following last month's preliminary reading that suggested a contraction of 1.4 percent. GDP expanded 1.3 percent in the third quarter. On a quarterly basis, GDP dipped 0.3 percent - which also marked an upward revision from 0.4 percent. GDP added 0.3 percent in the three months prior. Nominal GDP was bumped up to -0.2 percent on quarter from -0.3 percent in the preliminary reading - although it was still down from the 0.6 percent gain in the third quarter. The GDP deflator was unrevised and in line with expectations, up 1.5 percent on year and down from 1.8 percent in the third quarter. Private consumption was revised down to -0.9 percent on quarter from -0.8 percent in the preliminary after gaining 0.4 percent in the previous three months. Capital expenditure was revised up to 1.5 percent from 1.4 percent in the preliminary reading. It also accelerated from the 0.7 percent increase in the three months prior. Also on Tuesday: . The Bank of Japan said that the total value of overall bank lending in Japan was up 2.2 percent on year in February, coming in at 496.957 trillion yen. That follows the upwardly revised 2.4 percent increase in January (originally 2.3 percent). Excluding trusts, bank lending was up an annual 2.2 percent to 432.182 trillion yen after rising a downwardly revised 2.3 percent in the previous month (originally 2.4 percent). Lending from trusts added 2.3 percent to 64.774 trillion yen, while lending from foreign banks tumbled 4.2 percent to 1.811 trillion yen. . The Ministry of Finance noted that Japan had a current account surplus of 520.8 billion yen in January - shy of forecasts for a surplus of 700 billion yen following the 960.7 billion yen surplus in December. The trade balance showed a deficit of 411.0 billion yen - beating forecasts for a shortfall of 530 billion yen following the 188.7 billion yen deficit in the previous month. Exports were down 15.4 percent on year to 5.355 trillion yen, while imports skidded 19.8 percent to 5.766 trillion yen.
News are provided byInstaForex.