Forex News (from InstaForex) - page 64
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China Leading Index Slows To 0.7% In May - Conference Board
A leading economic index for China continued to expand in May, albeit at a slower pace, the latest survey from the Conference Board revealed on Tuesday.
The group's leading economic index was up 0.7 percent last month to a score of 290.2. That follows 1.0 percent increases in both April and March.
The coincident index was also up 0.7 percent in May, the data showed, with a score of 259.7. That was unchanged from the previous month and down from 1.5 percent in March.
"While the Leading Economic Index for China increased in May, its rate of increase has slowed considerably in recent months. The LEI, and its underlying components, suggest continued weaknesses in China's real economy in the coming months," said Jing Sima, Economist at The Conference Board.
"April's sharp improvement in the real estate sector was short-lived and consumers remain in a pessimistic mood. Moreover, the Coincident Economic Index indicates the rate of current economic activity is substantially lower than last year."
News are provided by InstaForex
Philippines Trade Deficit $743 Million In April
The Philippines saw a merchandise trade deficit of $743 million in April, the National Statistics Office said on Wednesday - following the $146 million shortfall in March.
Imports added an annual 3.0 percent in April to $5.309 billion - down from $5.42 billion in the previous month.
Through the first four months of the year, imports climbed 9.9 percent on year to $19.590 billion.
Export data, which was released two weeks ago, showed an increase of 0.8 percent to $4.506 billion.
News are provided by InstaForex.
Usd/sgd and Usd/myr Dip Overnight
South Asia pairs set to open lower on Thursday as risk/carry rallies in NY
USD/SGD back below 1.25 in a modest affair after topside rejected in Asia
USD/MYR set to open ard 2.2200 after NDFs trade 6.2235-90 o/n
USD/IDR bucks trend - to open ard 12100 after NDFs trade 12150-12155 overnight
Thai trade data (0400GMT) and Spore mfg output (0500GMT) out today
Month end flows less influence on S Asia pairs than seen on N Asia pairs
News are provided by InstaForex.
China Industrial Profits Slow In May
Chinese industrial profit rose at a slower rate in May, figures from the National Bureau of Statistics showed Friday.
Total industrial profit rose 8.9 percent on year in May. This follows the 9.6 percent increase in April.
Industrial profit rose 9.8 percent in the period of January to May, a slower rate of increase than the 10 percent rise in the period of January to April.
Year-to-date profit of private enterprises increased most by 12.9 percent in May. This was followed by a 3.4 percent rise in state-owned enterprises and a 0.9 percent uptick in collective enterprises.
However, mining year-to-date profits declined 16.4 percent in May.
News are provided by InstaForex.
New Zealand Business Confidence Tumbles In June - ANZ
Business confidence in New Zealand declined sharply in June, the latest survey from ANZ revealed on Monday - falling from 53.5 in May to 42.8 in June.
Analysts suggest that the Reserve Bank of New Zealand's actions to raise interest rates are primarily responsible for the decline.
The activity outlook for June came in with a score of 45.8, down from 51.0 in the previous month.
"Growth signals remain strong and inflation messages are waning: a good mix for keeping the OCR on the low side and the economy on a roll," said ANZ Chief Economist Cameron Bagrie.
News are provided by InstaForex
Japan HSBC/Markit PMI Rebounds In June
Japan manufacturing activity rebounded in June on account of increases in output and new orders, results of a survey by Markit Economics and the Japan Materials Management Association (JMMA) revealed Tuesday. The Markit/JMMA manufacturing purchasing managers' index increased to 51.5 in June, more than the flash estimate of 51.1, from 49.9 in May. This was the first expansion in three months. Manufacturing production and new business increased for the first time since March in June. Meanwhile, new export orders declined, though at a slower pace than in the previous month. Purchasing activity rose for the first time in three months in June. Input costs increased at a stable pace in June while output prices declined, though at a slower rate than in the previous month. Growth in staffing levels was slowest since October 2013. "The implementation of the sales tax in April looks to have had only a temporary effect on Japanese manufacturers." Amy Brownbill, Economist at Markit, said. "Shinzo Abe has been trying to address the employment issue by implementing a number of reforms, which many are calling the"third arrow?. The positive effects, however, of these reforms have not been fully felt."
News are provided by InstaForex.
Malaysian Ringgit Rises To More Than 3-week High Against U.S. Dollar
The Malaysian ringgit strengthened against the U.S. dollar in the Asian session on Wednesday. Against the greenback, the ringgit rose to more than a 3-week high of 3.2028. At yesterday's close, the ringgit was trading at 3.2069 against the greenback. If the ringgit extends its uptrend, it is likely to find resistance around the 3.18 area.
News are provided by InstaForex.
Japan Service Sector Activity Contracts In June
Japan's service sector activity declined further in June, results of a survey by Markit Economics showed Thursday.
The Markit Japan Services PMI edged down to 49.0 in June from 49.3 in May, signaling contraction for the third consecutive month. The decrease in service sector output was driven by the recent increase in sales tax, the survey showed.
Staffing levels declined for the first time since December 2013 in May. Input costs, which have been on the rise since November 2012, continued to increase and output prices grew for the fifth successive month in May, marking the longest stretch of inflation in survey history for both.
In contrast to the decreasing trend, new orders increased for the first time in three months in May.
Perceptions on business activity for the upcoming year were more positive than in the current year.
The composite output index, a combined measure of manufacturing activity and service sector activity, came in at 50 in May, indicating stagnation. In April, the index posted 49.2.
News are provided by InstaForex.
Aud Worst Performing Currency Past 48 Hours Despite Favorable External Factors
Investor risk appetite buoyed by "goldilocks" US payroll report Volatility as measured by the VIX & currencies volatilities at rock bottom historically Copper and iron ore are on a recovery path and China growth fears have receded Normally AUD a main beneficiary from carry trade demand in current environment Australia economic concerns and RBA jawboning trumping positive externals for now Close below 0.9354 would result in bearish outside week from significant high
News are provided by InstaForex.
Daily analysis of Silver for July 04, 2014
As shown in today's H4 chart, the metal has failed again to break the Support level of 20.90 and is still trading between the Support level and below the Resistance level of 21.20. Currently, it is bouncing from the Support level and starting for the bullish move. So we'll be waiting for it closing above the Resistance level of 21.20 in case of bouncing from the Support level in order to provide us with a new opportunity for more buy signals with the first target few pips below the Resistance level of 21.50. Then, after breaking this Resistance level, silver would open the way towards the Resistance level of 21.75, which means more bullish signals. But as long as the metal trades below the Resistance level of 21.20, this cancels the bullish scenario.
Resistance and support levels:
R3 (21.75), R2 (21.50), R1 (21.20), S1 (20.90), S2 (20.50), S1(20.20).
More analysis - at instaforex.com