Forex News (from InstaForex) - page 66
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Taiwan Unemployment Falls Unexpectedly In June
Taiwan's unemployment rate decreased slightly in June, defying economist estimates for a rise, as the number of unemployed edged down, a government report showed on Tuesday. The jobless rate came in at 3.97 percent in June, marginally less than the 3.99 percent in May. Economists expected the rate to increase to 4 percent. The number of unemployed people fell to 457,000 in June from 460,000 in May. Meanwhile, the number of employed people remained at 11.07 million in June, the same as in May. The participation rate dropped further in June to 58.51 percent in June from 58.55 percent in May.
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Malaysian Ringgit Rises To Nearly 2-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 nearly a 2-week high of 3.1687. At yesterday's close, the ringgit was trading at 3.1765 against the greenback. If the ringgit extends its uptrend, it is likely to find resistance around the 3.15 area.
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Argentina Trade Surplus Rises In June; Exceeds Expectation
Argentina's trade surplus increased more than expected in June as imports declined more than exports, a report from the National Institute of Statistics and Census showed Wednesday. The trade surplus came in at $1.37 billion in June, more than the $1.35 billion expected by economists and the $1.26 billion surplus in May. Exports fell 3 percent year-over-year to $7.39 million in July. Imports were at $6 billion in July, declining 6 percent year-over-year. On a year-on-year basis, the trade surplus rose 13 percent in July.
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Malaysia's Unemployment Rate Remains Stable In May
Malaysia's unemployment rate remained unchanged in May, figures from the Department of Statistics showed Friday. The unemployment rate came in at 2.9 percent in May, the same as in the previous month. A year ago, the unemployment rate was 3.3 percent. The number of unemployed in the country decreased to 406,500 persons in May from 407,200 in April. In the same month of last year, the jobless total was 439,400. Meanwhile, the unemployment rate, on a seasonally adjusted basis, rose slightly to 3.0 percent from 2.9 percent in the previous month. A year ago, the jobless rate was 3.4 percent. The labor force participation rate continued to increase in May, to 67.9 percent. That was followed by a 67.3 percent in April and 66.9 percent in March. During the same month of last year, the rate was 66.0 percent.
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China Industrial Profit Growth Quickens In June
Profits of Chinese industrial firms increased at an accelerated pace in June, a report from the National Bureau of Statistics showed Sunday. Industrial profit rose 17.9 percent year-over-year in June, following the 9 percent increase in May. Total industrial profit in the January to June period rose 11.4 percent compared to the corresponding period of the previous year. For the January to May period, profits had increased 9.8 percent.
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Japan Has 3.7% Unemployment Rate In June
The unemployment rate in Japan came in at a seasonally adjusted 3.7 percent in June, the Ministry of Internal Affairs and Communications said on Tuesday. That missed forecasts for 3.5 percent, which would have been unchanged from the May reading. The job-to-applicant ratio was 1.10 - exceeding expectations for 1.09, which also would have been unchanged. The participation rate was steady at 59.9 percent.
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China Consumer Sentiment Rises In July
China's consumer sentiment increased in July, results of a survey by MNI and Westpac showed Wednesday. The Westpac-MNI consumer sentiment index rose to 114.8 in July from 112.6 in June. However, consumer confidence still remained lower than the long-term average, the survey showed.
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New Zealand Money Supply Rises At Faster Rate In June
New Zealand's money supply increased at a faster pace in June, figures from the Reserve Bank of New Zealand showed Thursday. M3 money supply, the broadest measure of money supply, rose 5.4 percent year-on-year to NZ$272.5 billion in June. This follows a 5.2 percent rise in May. M3 resident aggregate money supply, measuring New Zealand dollar funding from the country's residents only, increased 7.2 percent in June following the 6.4 percent growth in the previous month.
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Malaysian Ringgit Weakens To 4-week Low Against U.S. Dollar
The Malaysian ringgit weakened against the U.S. dollar in the Asian session on Friday. Against the greenback, the ringgit fell to a 4-week low of 3.2092 from an early high of 3.1960. At yesterday's close, the ringgit was trading at 3.1975 against the greenback. If the ringgit extends its downtrend, it is likely to find support around the 3.21 area.
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New Zealand Commodity Prices Fall Further In July
New Zealand's commodity prices declined for the fifth consecutive month in July, results of a survey by ANZ showed Monday. The ANZ commodity price index fell 2.4 percent month-over-month in July, which was faster than the 0.9 percent decline in June. Whole milk powder prices decreased the most, by 12 percent, in July. Subsequently, prices of diary products such as butter, cheese, skim milk powder and casein declined in July. Prices of apples fell 4.3 percent in July as demand from Europe softened, though the decrease was offset to some degree by demand from Asia. Also, prices of logs and wood declined in July. However, prices of beef increased 11.3 percent in July. Aluminum prices rose 5.5 percent and kiwifruit prices improved 0.9 percent. Sheep meat prices also increased in July. On a year-over-year basis, commodity prices fell 3.3 percent in July, dragged down by the 18.6 percent drop diary prices. However, meat prices rose 21 percent and aluminum prices grew 9.5 percent. In terms of local currency, commodity prices dropped 3.5 percent month-over-month and 11.6 percent year-over-year in July as the New Zealand dollar strengthened.
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