Forex News (from InstaForex) - page 70
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New Zealand GDP Gains 0.7% In Q2
New Zealand's gross domestic product added 0.7 percent on quarter in the second quarter of 2014, Statistics New Zealand said on Thursday. That was in line with forecasts, although it slowed from the 1.0 percent gain in the first quarter. Business services (up 4.2 percent) were the main driver of the growth. On a yearly basis, GDP climbed 3.5 percent - missing expectations for 3.9 percent and down from 3.8 percent in Q1.
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Usd/cnh Closes in Ny at 6.1455 After Trading 6.1454-6.1527 Offshore
Only light USD/CNH activity reported tracking USD/AXJ complex
Early Ldn/early NY was a continuation of post FOMC - USD eased late NY Still no official confirmation that PBOC will inject CNY500bln into top 5 banks
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New Zealand Consumer Confidence Slows In Q3
Consumer confidence in New Zealand took a bit of a hit in the third quarter of 2014, the latest survey from Westpac Bank revealed on Monday, with an index score of 116.7. That's down from 121.2 in the second quarter, although it remains comfortably above the line of 100 that separates optimism from pessimism. The Reserve Bank of New Zealand's decision to hike its benchmark Official Cash Rate is seen as the catalyst for lagging confidence, the survey suggested. Among the individual components of the survey, the index for present conditions fell from 116.8 to 113.0, while the outlook dipped from 124.1 to 119.3.
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Nzd Continues Move down Through Figure Sits Circa 0.8103/05
Paused ahead of 0.8099 o/n low but scant signs of any bounce
Rabobank survey shows NZ farmers confidence at two-year lows
0.8078 17 September cycle low support, 0.8052 4 February low next likely safe till HSBC flash
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Japan Corporate Service Prices Add 3.5% In August
Corporate service prices in Japan were up 3.5 percent on year in August, the Bank of Japan said on Thursday. That was below forecasts for a gain of 3.7 percent following the downwardly revised 3.4 percent increase in July (originally 3.7 percent). On a monthly basis, prices eased 0.2 percent following the flat reading in July. Among the individual components of the survey, prices were up for transportation and real estate, and down for advertising and rental.
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Usd/idr to Test Bi's Resolve at 12060 Recent High
Ext rally in NDFs, bullish USD underpins
Month end local corp demand to add to support for pair
IDR NDFs traded 12115-12225 range overnight, closed 12190-12220 in NY
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South Korea Industrial Output Tumbles In August
Industrial production in South Korea was down 3.8 percent on month in August, Statistics Korea said on Tuesday. That was well shy of forecasts for an increase of 0.4 percent following the upwardly revised 1.5 percent gain in July (originally 1.1 percent). On a yearly basis, industrial production fell 2.8 percent - also missing expectations for a gain of 2.5 percent following the upwardly revised 3.9 percent jump in the previous month (originally 3.4 percent). The index of all industry production was down 0.6 percent on month and up 0.6 percent on year.
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Gold drops to nine month low on strengthening dollar
Futures for gold fell to their lowest value since January with outlook over higher borrowing rates in the US spurring the dollar upward and decreasing demand for an inflation hedge.
Bullish wagers made on gold by money managers have declined for six consecutive weeks, making the longest losing streak in over years based on government data. Holdings in bullion backed exchange traded products around the world shrunk to the smallest in five years with the metal close to erasing all its gains for 2014.
Futures for gold with a delivery date in December fell by 0.6% to arrive at a price per ounce of $1,211.60 early afternoon in New York’s Comex. It earlier touched its lowest since January 2nd at $1,204.30. The precious metal has declined by 8.4% so far this quarter, its first losing three month period for the year. Gold underwent a rally during the first half of the year due to geopolitical tensions rising up around the world, particularly in Ukraine and the Middle East.
Adrian Day Asset Management president Adrian Day says that, “It’s really been the dollar that probed gold lower since the beginning of July.” The US dollar rose to its highest four years today against a basket of 10 currencies to put it on track to record its largest gain in a quarter. The Federal Reserve increased its outlook for interest rates on September 17, suggesting that its commitment to stabilize inflatio
Commodities research head Jeffrey Currie from Goldman Sachs Group Inc. claims that gold will continue to fall until it reached $1,050 per ounce by the end of the year.
Futures of silver with a delivery date in December fell by 2.9% for a price per ounce of $17.057 after hitting its lowest since March 2010 of $16.85. It has dropped by 19% this quarter.
Palladium for December also declined by 1.8% to $775.15 per ounce. It has lost 15% during this month. Platinum in January fell by 0.7% to $1,300.50 per ounce as part of its 12% loss this quarter.
Gold climbs for second straight day behind falling stocks
Gold crept up from its nine month low for the second consecutive day after stock markets around the world declined due to disappointing manufacturing statistics, pushing up demand for alternative investments.
Spot gold increased to a price per ounce as high as $1,216.77 after improving by 0.2% and was trading mid morning Singapore time at $1,216.62, based on generic pricing from Bloomberg. The precious metal hit its lowest value since January 2nd of $1,204.57 last September 30th which put it within 0.5% of erasing all its gains for the year.
Data from Europe, showed that factory activities grew at their slowest pace in more than a year during September while the sector in the US cooled down as well. In China, output levels from factories were unchanged from August to September. Stocks in Asia declined for the fifth straight day today after the US market fell, pushing down the MSCI All Country World Index to its lowest level in five months.
Analyst Lachlan Shaw from Commonwealth Bank of Australia says that, “Gold rose on safe-haven demand as economic concerns flared up.
Futures of gold similarly traded up from yesterday’s price per ounce of $1,215.50 to $1,216.90 in New York’s Comex. Holdings under the largest bullion backed exchange traded product, the SPDR Gold Trust, decreased to the fewest since December 2008 at 768.66 metric tons
Spot silver increased by 0.5% for a price per ounce of $17.2715 to continue yesterday’s 1.2% improvement. Platinum rose to $1,289.69 per ounce to show a climb of 0.5% today after falling to its lowest value since October 2009 yesterday at $1,263.38. Palladium improved by 0.8% for a price per ounce of $784.63