Forex News (from InstaForex) - page 54
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Yen Rises After BOJ Rate Decision
The Bank of Japan kept monetary policy on hold in its decision in Asian deals on Wednesday. Following the announcement, the yen edged up against other major currencies.
The yen was trading at 104.23 against the greenback, 171.82 against the pound, 114.59 against the franc and 141.51 against the euro around 10:30 pm ET.
News are provided by InstaForex.
U.S. Dollar Advances Against Most Majors
The U.S. dollar strengthened against most major opponents in early Asian deals on Thursday.
The greenback rose to 104.84 against the yen for the first time since January 16.
The greenback advanced to 2-day highs of 0.9135 against the franc and 1.3530 against the euro, compared to yesterday's closing quotes of 0.9114 and 1.3547, respectively.
The next possible resistance for the greenback is seen around 0.92 against the franc, 1.345 against the euro and 105.6 against the yen.
News are provided by InstaForex.
Chinese Industrial Profit Rise In 2013
China's industrial profits increased 12.2 percent in 2013 from the previous year, the National Bureau of Statistics said Tuesday.
Profits were up 13.2 percent during eleven months ended November.
In December alone, combined profits of industrial firms grew 6 percent to CNY 942.5 billion. But it was slower than the 9.7 percent growth posted in November.
News are provided by InstaForex.
Swiss Franc Slides To 5-day Low Against Euro
Retracing early gains, the Swiss franc slipped against the euro in Asian trading on Wednesday.
The franc declined to a 5-day low of 1.2295 per euro, off an early high of 1.2261. The franc is likely to face support at the 1.235 mark. The pair traded at 1.2270 at yesterday's close.
News are provided by InstaForex.
Philippine GDP Growth Slows In Q4
The Philippine economy grew at a slower pace in the fourth quarter, data from the National Statistical Coordination Board showed Thursday.
Gross domestic product rose 6.5 percent in the fourth quarter from last year, down from the revised 6.9 percent expansion registered in the previous quarter. Nonetheless, the rate exceeded the 6 percent consensus.
From the third quarter, seasonally adjusted GDP increased 1.5 percent, data showed. For 2013 as a whole, the economy grew 7.2 percent from the previous year.
News are provided by InstaForex.
Day ahead in the Fx Market
TUESDAY, FEB. 4 (GMT):
0330 - AUSTRALIA RBA CASH RATE FOR FEBRUARY Reserved Bank of Australia (RBA) cash rate for February is expected to have remain at 2.50 percent. 2145 - NEW ZEALAND HLFS UNEMPLOYMENT RATE FOR Q4 Jobless rate for Q4 is expected to rise 6.0 percent compared with a rise of 6.2 percent in Q3.
2145 - NEW ZEALAND HLFS JOB GROWTH FOR Q4 Job growth for Q4 is expected to rise 0.6 percent compared with a rise of 1.2 percent in Q3.
2145 - NEW ZEALAND LABOUR COST INDEX FOR Q4 Fourth quarter labour cost index data is expected to rise 1.7 percent from a year earlier, compared with a rise of 1.6 percent in Q3. Labour cost index for Q4 is expected to rise 0.6 percent, quarter-to-quarter, compared with a rise of 0.4 percent in previous quarter.
2145 - NEW ZEALAND HLFS PARTICIPATION RATE FOR Q4 Participation rate for Q4 is expected to have remain at 68.6 percent.
News are provided by InstaForex.
BoJ To Maintain Easy Policy Until Inflation Steadies At 2%, Says Iwata
The Bank of Japan will maintain its loose monetary policy until 2 percent inflation target is achieved in a stable manner, Deputy Governor Kikuo Iwata said Thursday.
"Even if the CPI reached 2 percent year-on-year, unless the Bank projects that inflation is likely to remain at around 2 percent in a stable manner, it will not simply end monetary easing," Iwata told business leaders in Miyazaki.
"What is most important at this juncture is that the Bank steadily make progress under the current policy framework," he added.
The negative impact from sales tax hike on households' income will be mitigated by the economic measures taken by the government. Moreover, the tax hikes seem to have already been factored in substantially among households, he noted.
"In sum, the consumption tax hike will temporarily generate a swing in the economy's growth rates and negatively affect disposable income," Iwata said.
But the virtuous cycle that has already been working in Japan's economy will continue and the economy is likely to continue growing at a pace above its potential, as a trend, he said.
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Fed's Rosengren: fED Balance Sheet Would Shrink Quickly Without Sales
"Our intention is to get back to a more normal size balance sheet," Boston Fed President Eric Rosengren said at a Florida conference, acknowledging the risk that interest rates are likely to rise in the future, leading to possible losses on the balance sheet that is now worth $4 trillion and growing.
"If we stopped purchasing mortgage backed securities, that part of the balance sheet comes down actually relatively quickly," he said.
As for the purchases of longer-term Treasury bonds, Rosengren said that side of the balance sheet also declines "surprisingly quickly by just not doing any purchases and not reinvesting."
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Malaysia's Manufacturing Sales Continue To Rise
Malaysia's manufacturing sales continued to increase in December, the Department of Statistics said Monday. The sales value of the manufacturing sector rose 5.4 percent, after posting 4.7 percent growth in November. Compared with the preceding month, the sales value advanced 4 percent in December. Further, data showed that total employees engaged in the manufacturing sector in December totaled 1.03 million, an increase of 0.3 percent from November. Likewise, sales and wages grew 11.1 percent month-on-month in December. At the same time, productivity increased 3.6 percent from November and by 4.1 percent from December 2012.
News are provided by InstaForex
China Money Markets on Edge
Short-term rates likely to rise with PBOC skipping open market operations Maturing reverse repos to drain CNY450 billion this week
Rates have been creeping up since markets reopened on Friday
PBOC inaction could fuel tightening fears
News are provided by InstaForex