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Australia Business Confidence Ebbs In October - NAB
Business confidence in October remained positive in October, albeit at a slower pace, the latest survey from the National Australia Bank revealed on Tuesday with an index score of +4.
That's down from +6 in September, although it didn't slip into pessimism with a negative score.
Business conditions also slowed, coming in at +6 - down from +8 in the previous month.
News are provided byInstaForex.
Canadian Ford workers approve new contract ?union
Canadian workers at Ford Motor Co agreed on a new four-year contract with the carmaker, the president of the Oakville, Ontario, local said on Sunday.
The workers approved the new contract despite some members' criticisms at Ford's Oakville assembly, stopping a strike, and after months of talks between the Unifor union and General Motors Co, Fiat Chrysler Automobiles and Ford.
News are provided byInstaForex.
Japan Has Y1.821 Trillion Current Account Surplus
Japan had a current account surplus of 1.821 trillion yen in September, the Ministry of Finance said on Wednesday - up 25.4 percent on year.
That was shy of expectations for 2.020 trillion yen and down from 2.000 trillion yen in August.
The trade surplus came in at 642.4 billion yen - shy or forecasts for 668.8 billion yen and up from 243.2 billion yen in the previous month.
Exports were down 8.3 percent on year to 5.838 trillion yen, while imports skidded 17.5 percent to 5.196 trillion yen.
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Gold Lower Ahead of U.S. Presidential Vote Results
Gold prices edged down as the dollar and global equity markets strengthened while investors await the results of the contentious U.S. presidential election. Gold for December delivery was down 0.3 percent at $1,275.90 per troy ounce on the Comex division of the New York Mercantile Exchange.
Investors are broadly expecting a victory for Mrs. Clinton and also indicated that a market shock is expected if Donald Trump becomes president. Spot gold declined 0.3 percent to $1,277.16 per ounce. Analysts claim that a victory for Trump would produce more uncertainty in the market and could raise the appeal of gold as a hedge against risk. David Govett, the head of precious metals at Marex Spectron says that a Clinton victory means that gold may decline around $30 to the $1,250 per troy ounce area. However, if Trump wins it could prompt a raise in prices of nearly $100 per troy ounce.
In other precious metals, Silver climbed 0.8 percent to $18.35 per ounce. Platinum rose 0.1 percent at $1,001.75 and palladium was up 1.8 percent to $663.50.
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Japan Core Machine Orders Tumble 3.3% In September
Core machine orders in Japan skidded 3.3 percent on month in September, the Cabinet Office said on Thursday - standing at 843.7 billion yen.
That missed expectations for a fall of 1.5 percent following the 2.2 percent decline in August.
On a yearly basis, core machine orders picked up 4.3 percent - also exceeding forecast for 4.1 percent following the 11.6 percent spike in the previous month.
The total number of machinery orders, including those volatile ones for ships and from electric power companies, fell 0.7 percent on month and gained 0.9 percent on year to 972.1 billion yen.
Manufacturing orders slid 5.0 percent on month and 1.5 percent on year to 335.5 billion yen in September, while non-manufacturing orders fell 0.9 percent on month and jumped 7.8 percent on year to 510.3 billion yen.
Government orders skidded 10.3 percent on month and 25.2 percent on year to 220.6 billion yen. Orders from overseas gained 1.4 percent on month and fell 16.7 percent on year to 785.0 billion yen. Orders from agencies added 5.6 percent on month and 7.6 percent on year to 121.4 billion yen.
For the third quarter of 2016, core machine orders were up 7.3 percent on quarter and 6.5 percent on year.
For the fourth quarter, core machine orders are forecast to have fallen 5.9 percent on quarter and gain 3.7 percent on year.
Also on Thursday, the Bank of Japan said that the M2 money stock in Japan was up 3.7 percent on year in October, coming in at 945.1 trillion yen.
That exceeded forecasts for 3.6 percent following the downwardly revised 3.5 percent increase in September (originally 3.6 percent).
The M3 money stock advanced an annual 3.2 percent versus forecasts for 3.1 percent after gaining a downwardly revised 3.0 percent in the previous month (originally 3.1 percent).
The L money stock added 1.9 percent to 1,656.0 trillion yen.
News are provided byInstaForex.
Clinton Delivers Concession Speech, Pledges to Work with Trump
Defeated candidate for U.S. president Hillary Clinton made her first appearance to the public after reportedly conceding to president-elect Donald Trump over the phone on Wednesday.
Speaking in New York, the Democrat candidate said she hoped Mr. Trump would be a triumphant president for all Americans, adding that Trump must be given an opportunity to lead. Clinton stated that the country was more deeply fractured than initially estimated and urged her supporters to respect the outcome of the election.
Despite telling her supporters that the loss was painful, she said that she has offered to work with Trump as he gets ready to start his four-year term on January 20.
The Republican is set to become the 45th U.S. president follows his stunning win over the highly-favoured Clinton. New Jersey Governor will lead Trump's transition team during the 10-week period until his inauguration.
In his conciliatory victory speech, Trump said his first priorities entails restoring the nation's infrastructure and stimulating its economic growth.
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Japan Producer Prices Slip 0.1% In October
Producer prices in Japan were down 0.1 percent on month in October, the Bank of Japan said on Friday.
That was shy of expectations for a flat reading, which would have been unchanged from the September reading.
On a yearly basis, producer prices fell 2.7 percent versus forecasts for -2.6 percent following the 3.2 percent drop in the previous month.
Export prices were up 0.1 percent on month and down 0.7 percent on year, the bank said, while import prices gained 1.1 percent on month but dropped 4.7 percent on year.
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Bitcoin ascends on Trump election win
Bitcoin leaped as investors sought refuge in the virtual currency following Donald Trump's monumental victory in the recent US presidential election.
Bitcoin prices climbed to $742.96 on Wednesday, up 4.6%, within striking distance of the $777 it touched before Brexit. The digital currency reached near its 35-month high against the British pound despite a global sell-off.
Bitcoin, often considered as one of the most perilous and volatile assets in the world, has been shaped by its erratic movement. In 2013, the cryptocurrency's price surged from less than $10 to more than $1,000. However, its value plummeted prior to a downfall of Mt. Gox after a cyber attack where several users lose thousands.
But growing confidence in bitcoin and global skepticism about other assets have seen its value almost double since the beginning of the year.
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Japan GDP Jumps 2.2% On Year In Q3
Japan's gross domestic product spiked 2.2 percent on year in the third quarter of 2016, the Cabinet Office said in Monday's preliminary report.
That was well above forecasts for a gain of 0.8 percent following the 0.7 percent increase in the three months prior.
On a quarterly basis, GDP expanded 0.5 percent - also topping expectations for 0.2 percent, which would have been unchanged from Q2.
Nominal GDP was up 0.2 percent versus forecasts for a decline of 0.1 percent following the 0.3 percent gain in the previous three months.
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Mexican Peso Recovers as Trump Eases Campaign Pledges
The Mexican peso rose over one percent to about 20.64 pesos per U.S. dollar in Asian trading as U.S. President-elect Donald Trump seemed to abate some of his more controversial campaign pledges that were perceived to have a negative impact on the Mexican economy.
The peso has dropped to a historic low following Trump's stunning election win last week on concerns that he will seek to follow through with his campaign platforms to lower trade and to establish a wall between the two nations, while also deporting around 11 million people living in the U.S. without proper documents. Trump's upset has hit Mexican assets hard, as the peso plummeted to a low of over 21 pesos against the greenback, prompting analysts to also lower their economic outlook for the nation.
Trump backpedaled on his promise to construct a border wall on Sunday, stating some areas could instead have fenced segments, and stated that he would seek to deport around three million immigrants in the nation who are proven to have criminal records.
To date, the central bank of Mexico, who will hold its next meeting later this week, has not stepped in to stem the peso's decline.
News are provided byInstaForex.