Forex News (from InstaForex) - page 74
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Japan GDP Tumbles 1.6% In Q3
Japan's gross domestic product unexpectedly contracted 1.6 percent on year in the third quarter of 2014, the Cabinet Office said in Monday's preliminary reading. That was well shy of forecasts for an increase of 2.2 percent following the downwardly revised contraction of 7.3 percent in the second quarter (originally -7.1 percent). On a quarterly basis, GDP slid 0.4 percent versus forecasts for an increase of 0.5 percent following the downwardly revised 1.9 percent contraction in Q2 (originally -1.8 percent). Nominal GDP tumbled 0.8 percent on quarter, missing forecasts for a gain of 0.4 percent following the upwardly revised 0.1 percent decline in the second quarter (originally -0.2 percent).
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Jpmorgan: US Trade Crowded, Buy Europe
Mislav Matejka JPMorgan global equity strategist at CNBC:
It's time to start buying Europe.
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Usd/jpy Bias Up, Mega Option Expiries Today
Quite a bit of optionality nearby including barriers and expirations. 116.50 (672 mln), mega-117.00/117.50 (1.137/1.213 bln) vanillas to go off. Barriers also tipped at 117.50, 118.00 above, stops large above. USD/JPY bias up but expiries today look to help slow any further push up. Large 117.00 (690), 117.50 (685) and 118.00 (960) strikes expire tom too.
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New Zealand Capital Goods Prices Add 0.5% In Q3
The price of purchasing new capital items rose 0.5 percent in the third quarter of 2014, Statistics New Zealand said on Thursday. Four of six asset groups measured by the capital goods price index rose. The major upward contributions to the CGPI came from higher prices for residential buildings (up 1.0 percent) and non-residential buildings (up 0.8 percent). The gains were offset by a fall in transport equipment prices (down 0.6 percent). On a yearly basis, the CGPI climbed 2.3 percent. The increases for residential buildings (up 4.7 percent) and non-residential buildings (up 4.1 percent) were the main contributors to the change.
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Usd/myr may Trade 3.35-3.36
Agent fears, profit taking in USD/JPY to pressure pair Exports worries - depressed oil/commodities underpin NDFs traded 3.3705-3.3810 range overnight, closed 3.3705-3.3735 in NY
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China Securities Times: China Researcher Suggests Interest Rate Cut Next Year
China Securities Times (via Bloomberg):
China researcher suggests interest rate cut next year
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China Plans to Double Australian Mortgages in 2 Years
Bank of China plans to double its mortgage lending in Australia in two years: Wants to offer more home loans to locals Hopes to reach more non-Chinese borrowers in the country through a product distribution agreement with Australian Finance Group Pty, Australia's biggest mortgage broker Bank of China held A$672 million of Australian mortgages as of September 30
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Japan: Main Opposition Offers Alternative to Abe’s ‘3 Arrows’ With ‘3 Pil
Democratic Party of Japan has offered an alternative to Abe's 'three arrows': "flexible financial policy bearing in mind the daily life of the people" "investing in people" "a growth strategy that will connect to the future"
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South Korea Current Account Surplus $9.01 Billion
South Korea posted an unadjusted current account surplus of $9.01 billion in October, the Bank of Korea said on Thursday. That follows the upwardly revised $7.41 billion surplus in September (originally $7.20 billion). The goods account surplus widened to $8.86 billion, from $7.51 billion the previous month. The services account deficit registered $0.25 billion, similar to September's level. The primary income account surplus widened to $0.97 billion from $0.61 billion the previous month due to a decrease in payments on the equity account. The secondary income account saw a deficit of $0.36 billion. The financial account saw a net outflow of $6.80 billion, down from $8.76 billion in the previous month. Direct investment recorded a net outflow of $2.09 billion, less than the $2.15 billion in the previous month, as foreigners' direct inward investment increased. Portfolio investment saw a net outflow of $0.38 billion, down from $3.52 billion in September, due to the reduction of residents' outward portfolio investment and the shift to a net inflow of foreigners' portfolio investment, the bank said. Financial derivatives posted a net outflow of $0.57 billion. Other investment saw a net outflow of $4.01 billion, up from $1.88 billion a month earlier - despite the shift to net borrowings by domestic financial institutions, as overseas loans and deposits by domestic financial institutions increased, the bank noted. Reserve assets fell $0.25 billion. Seasonally adjusted, the current account surplus was $7.32 billion, up from the downwardly revised $4.99 billion (originally $5.20 billion).
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Japan Industrial Production Up Unexpectedly In October
Preliminary estimates released by Japan's Ministry of Economy, Trade and Industry on Friday showed that industrial production in Japan unexpectedly rose in October. Industrial production rose a seasonally adjusted 0.2 percent month-over-month, belying expectations for a 0.6 percent drop. However, this represented a marked slowdown from the 2.9 percent growth in September. Annually, production was down 1 percent, not as worse as the 1.7 percent drop expected by economists. Shipments were up 0.4 percent month-over-month but declined 0.6 percent annually. The Ministry's forecast based on a survey of manufacturers pitches industrial production growth at 2.3 percent in November and at 0.4 percent in December.
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