Forex News (from InstaForex) - page 55
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China January Exports and Imports Well Above Forecasts
China's exports beat expectations in January, rising 10.6 percent from a year earlier, while imports jumped 10 percent, leaving the country with a trade surplus of $31.9 billion for the month, the Customs Administration said on Wednesday.
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Australia's Inflation Expectations Remain Unchanged In February
The expected inflation rate amongst Australian consumers remained unchanged and stayed well within the central bank's target band of 2 percent-3 percent, a monthly survey by the Melbourne Institute revealed Thursday.
Consumers forecast a 2.3 percent inflation over the coming twelve months, the same rate as estimated in January.
Viet Nguyen, a research fellow at the Melbourne Institute, said, "The moderate upticks in consumer inflationary expectations since September 2013 reflect, to a certain extent, expectations of moderate upticks in economic activity in the coming months."
This provides support for the Reserve Bank of Australia's current 'wait and see' stance, said Nguyen.
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Australian Dollar Extends Rally After China CPI, PPI Data
Inflation in China rose 2.5 percent year-over-year in January, unchanged from last year and slightly higher than the 2.4 percent increase expected by economists. Producer price index dropped to 1.6 percent, in line with estimates following previous month's 1.4 percent drop.
The Australian dollar extended its uptrend against its major rivals following the report. As of 8:35 pm ET Thursday, the aussie was trading at 92.26 against the yen, 1.5172 against the euro, 1.0784 against the NZ dollar and 0.9020 against the US dollar.
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Japan December Industrial Output Growth Revised Down To 7.1%
Japan's industrial production increased at a weaker pace in December than estimated earlier, revised figures from the Ministry of Economy, Trade and Industry revealed Monday.
Industrial production grew 7.1 percent in December from the corresponding month of last year, which is slightly weaker than the 7.3 percent gain the government had estimated on January 30. However, the December outcome was better than November's 4.8 percent rise.
Seasonally adjusted industrial production moved up 0.9 percent compared to November, after dropping by 0.1 percent in November. The flash estimates were for a bigger growth of 1.1 percent at the end of last year.
Data showed that Capacity utilization in Japanese companies climbed 2.2 percent sequentially in December, marking a sharp improvement from the 0.5 percent contraction estimated earlier.
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Yen Declines As BoJ Keeps Monetary Policy Unchanged
The Japanese yen slipped against other major currencies on Tuesday's Asian deals after the Bank of Japan retained its monetary policy intact and said the economy is recovering moderately.
The Bank decided to expand monetary base at an annual pace of about 60-70 trillion yen.
The BOJ planned to double the scale of Stimulating Bank Lending and Growth-Supporting Funding facilities and extend the period of these facilities by an year.
The yen slipped to a 5-day low of 102.44 against the greenback, off early high of 101.76. Against the franc, euro and the pound, the yen declined to near 3-week lows of 114.84, 140.45 and 171.34, easing from early highs of 114.13, 139.50 and 170.23, respectively.
The yen fell to near a 4-week low of 93.48 against the loonie and a 6-day low of 92.86 against the aussie from its previous highs of 92.89 and 92.08, respectively.
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Australia Online Job Vacancies Rise 1.4% In January
Australia's online job vacancies increased for the fifth successive month in January, with strong rises recorded across all categories, data released by the Department of Employment showed Wednesday.
The number of job vacancies advertised on the internet, on an unadjusted basis, increased 1.4 percent month-on-month in January, marking the fifth consecutive increase.
The increase mainly reflected recovering business confidence, strong rise in building approvals, and improvement in retail spending, the agency said.
With a 2.9 percent sequential growth, vacancies of sales workers recorded the biggest increase in January, followed by vacancies of technicians and trades workers, which gained 2 percent.
On an year-on-year basis, unadjusted online vacancies decreased 3.8 percent at the beginning of the year, data showed.
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New Zealand Consumer Confidence Retracts From 7-Year High
New Zealand's consumer confidence dropped modestly in February from January's seven-year high, but remained well above the trend, data from a survey showed Thursday. The ANZ-Roy Morgan consumer confidence index dropped to 133 in February from 135.8 in January, which was the highest score in seven years. Confidence is spreading to all parts of the country. The current conditions sub-index eased 3 points to 127 during February. The future conditions index also shed 3 points and reached a score of 137.1 "It's now well flagged that interest rates are set to move up - a typical bug-bear for sentiment," ANZ said. However, rising asset prices, improving labor market conditions and reasonable income growth will continue to bode well for consumer confidence. Meanwhile, the seasonally adjusted estimate showed that consumer sentiment increased modestly in February, and reached the highest level in seven years.
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UK's House Price Sentiment Improves To Record High: Markit
Confidence among British residents regarding the value of their homes increased to the record high in February, data from a survey by Knight Frank and Markit Economics revealed Friday.
The headline house price sentiment index, which measures households' views of the current value of their houses, climbed to 60.7 in February, hitting the highest level since the survey began. The index has now stayed above the no-change 50 mark, which separates growth from contraction, for the eleventh successive month.
Property owners in every region of the UK perceived that the value of their home rose in February, led by London, data showed.
At the same time, the outlook component of the survey jumped to an all-time high of 74.9 in February from 72.3 in January, indicating that prices are expected to rise at the strongest rate since the index began in 2009.
The survey showed that households in every region expect that the value of their home will rise over the next twelve months.
"The recovery in the housing market reflects the increasing economic confidence in the country - which recently resulted in an upgrade to economic growth forecasts - coupled with the assurance that interest rates will remain low until next year at least," Gr?inne Gilmore, head of UK residential research at Knight Frank, said.
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Yen Rises Against Majors
The Japanese yen gained against its major rivals in Asian morning deals on Monday.
The yen advanced to 102.36 against the greenback, 115.34 against the franc, 140.61 against the euro, 91.92 against the loonie and 170.25 against the pound.
The yen climbed to 4-day highs of 91.63 against the aussie and 84.63 against the kiwi.
The yen may eye resistance around 101.5 against the greenback, 169.00 against the pound, 114.2 against the franc, 139.00 against the euro, 90.00 against the loonie, 90.00 against the aussie and 83.5 against the kiwi.
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Japan January Corporate Service Prices Rise 0.8%
An index measuring corporate service prices in Japan was up 0.8 percent on year in January, the Bank of Japan said on Tuesday, coming in at 96.3.
That was shy of forecasts for an increase of 1.2 percent following the downwardly revised gain of 1.1 percent in December (originally 1.3 percent).
On a monthly basis, corporate service prices dropped 0.6 percent after adding 0.2 percent in December.
Among the individual components, prices moved lower for transportation, communications and advertising; prices were up for leasing and other services.
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