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InstaForex Gertrude · Guru

Usd/sgd and Usd/myr Dip Overnight

South Asia pairs set to open lower on Thursday as risk/carry rallies in NY

USD/SGD back below 1.25 in a modest affair after topside rejected in Asia

USD/MYR set to open ard 2.2200 after NDFs trade 6.2235-90 o/n

USD/IDR bucks trend - to open ard 12100 after NDFs trade 12150-12155 overnight

Thai trade data (0400GMT) and Spore mfg output (0500GMT) out today

Month end flows less influence on S Asia pairs than seen on N Asia pairs

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InstaForex Gertrude · Guru

New Zealand Business Confidence Tumbles In June - ANZ

Business confidence in New Zealand declined sharply in June, the latest survey from ANZ revealed on Monday - falling from 53.5 in May to 42.8 in June.

Analysts suggest that the Reserve Bank of New Zealand's actions to raise interest rates are primarily responsible for the decline.

The activity outlook for June came in with a score of 45.8, down from 51.0 in the previous month.

"Growth signals remain strong and inflation messages are waning: a good mix for keeping the OCR on the low side and the economy on a roll," said ANZ Chief Economist Cameron Bagrie.

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InstaForex Gertrude · Guru

Japan HSBC/Markit PMI Rebounds In June

Japan manufacturing activity rebounded in June on account of increases in output and new orders, results of a survey by Markit Economics and the Japan Materials Management Association (JMMA) revealed Tuesday. The Markit/JMMA manufacturing purchasing managers' index increased to 51.5 in June, more than the flash estimate of 51.1, from 49.9 in May. This was the first expansion in three months. Manufacturing production and new business increased for the first time since March in June. Meanwhile, new export orders declined, though at a slower pace than in the previous month. Purchasing activity rose for the first time in three months in June. Input costs increased at a stable pace in June while output prices declined, though at a slower rate than in the previous month. Growth in staffing levels was slowest since October 2013. "The implementation of the sales tax in April looks to have had only a temporary effect on Japanese manufacturers." Amy Brownbill, Economist at Markit, said. "Shinzo Abe has been trying to address the employment issue by implementing a number of reforms, which many are calling the"third arrow?. The positive effects, however, of these reforms have not been fully felt."

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InstaForex Gertrude · Guru

Malaysian Ringgit Rises To More Than 3-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 more than a 3-week high of 3.2028. At yesterday's close, the ringgit was trading at 3.2069 against the greenback. If the ringgit extends its uptrend, it is likely to find resistance around the 3.18 area.

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InstaForex Gertrude · Guru

Japan Service Sector Activity Contracts In June

Japan's service sector activity declined further in June, results of a survey by Markit Economics showed Thursday.

The Markit Japan Services PMI edged down to 49.0 in June from 49.3 in May, signaling contraction for the third consecutive month. The decrease in service sector output was driven by the recent increase in sales tax, the survey showed.

Staffing levels declined for the first time since December 2013 in May. Input costs, which have been on the rise since November 2012, continued to increase and output prices grew for the fifth successive month in May, marking the longest stretch of inflation in survey history for both.

In contrast to the decreasing trend, new orders increased for the first time in three months in May.

Perceptions on business activity for the upcoming year were more positive than in the current year.

The composite output index, a combined measure of manufacturing activity and service sector activity, came in at 50 in May, indicating stagnation. In April, the index posted 49.2.

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InstaForex Gertrude · Guru

Aud Worst Performing Currency Past 48 Hours Despite Favorable External Factors

Investor risk appetite buoyed by "goldilocks" US payroll report Volatility as measured by the VIX & currencies volatilities at rock bottom historically Copper and iron ore are on a recovery path and China growth fears have receded Normally AUD a main beneficiary from carry trade demand in current environment Australia economic concerns and RBA jawboning trumping positive externals for now Close below 0.9354 would result in bearish outside week from significant high

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InstaForex Gertrude · Guru

New Zealand House Prices Rise Faster In June

New Zealand house prices rose at a faster rate in June, data from Quotable Value, or QV, showed Monday. Property prices rose 2.1 percent sequentially in the three months ended June following the 0.7 percent increase in the three months ended May. Current house prices were 15 percent above the previous market peak of late 2007. Meanwhile, house prices rose at a slower rate of 8 percent year-over-year in June after the 8.2 percent growth in May. "The nationwide index is still increasing but the picture around the country is mixed." Andrea Rush, QV National Spokesperson, said. "Residential property values in Auckland and Christchurch are still increasing at a similar rate to what they were in June last year. While values in Wellington and Dunedin are showing a downward trend this month, as are a number of other provincial centres around the country." "Sales volumes and home loan approvals (new and existing) are also down considerably at between 15-20% less than at this time last year." She added.

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InstaForex Gertrude · Guru

U.K. Economy Stabilizes In Q2: BCC

The U.K. economy is still strong and moving in the right direction, the Quarterly Economic Survey from the British Chambers of Commerce showed Tuesday. In manufacturing, balances for domestic sales, profitability confidence and capacity utilization were at their all time highs in the second quarter. At the same time, there were no balances at their all-time highs in services. Meanwhile, exports and investment balances declined in the second quarter, for both manufacturing and services, survey based on responses from 7,000 businesses revealed. Despite these falls, the second quarter export balances and most investment balances are still above their average 2007 pre-recession levels. In the recent economic forecast, BCC predicted that quarterly GDP growth for the second quarter would be 0.8 percent, with full-year growth of 3.1 percent, said David Kern, chief economist at the BCC. However, these results mean that risks of a downgrade have increased. Further, the survey showed that that intentions to raise prices in both manufacturing and services eased and wage pressures weakened in the second quarter.

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InstaForex Gertrude · Guru

China CPI Dips To 2.3% In June

Consumer prices in China were up 2.3 percent on year in June, the National Bureau of Statistics said on Wednesday. That was shy of forecasts for 2.4 percent, and it was down from 2.5 percent in May. Individually, food prices jumped an annual 3.7 percent in June, while non-food prices gained 1.7 percent. The statistics bureau also noted that producer prices were down 1.1 percent on year versus forecasts for -1.0 percent following the 1.4 percent contraction in May.

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InstaForex Gertrude · Guru

China Has $31.6 Billion Trade Surplus

China posted a merchandise trade surplus of $31.6 billion in June, the customs office said on Thursday. That missed forecasts for a surplus of $36.95 billion, and was down from $35.92 billion in May. Exports were up 7.2 percent on year - also missing expectations for 10.4 percent but up from 7.0 percent in the previous month. Imports gained an annual 5.5 percent versus forecasts for 6.0 percent following the 1.6 percent decline a month earlier.

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InstaForex Gertrude · Guru

New Zealand House Prices Fall In June

New Zealand's house prices index declined percent in June, data from the Real Estate Institute of New Zealand, or REINZ, showed Monday. The REINZ housing price Index dropped 0.3 percent month-over-month to 3,913.3 in June. Prices in Christchurch and Wellington fell 1.9 percent and 4.3 percent, respectively, in June. Meanwhile, prices in Auckland rose 1.6 percent. Annually, the REINZ housing price index rose 6.2 percent in June. The number of dwellings sold decreased 12.3 percent month-on-month and 6.1 percent year-on-year in June.

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InstaForex Gertrude · Guru

Yen Falls Slightly After BOJ Rate Decision

As expected, the Bank of Japan maintained target for monetary base expansion at an annual pace of 60-70 trillion yen. Following the announcement, the yen fell slightly against other major currencies. The yen was trading at 101.61 against the greenback, 138.36 against the euro, 173.57 against the pound and 113.88 against the franc around 11.10.

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InstaForex Gertrude · Guru

Chinese Yuan Advances To 1-week High Against U.S. Dollar

The Chinese yuan climbed against the U.S. dollar in Asia on Thursday. The yuan hit 6.2013 against the greenback, setting a 1-week high. On the upside, 6.19 is seen as next possible resistance level for the yuan. The pair was worth 6.2040 at yesterday's close. The People's Bank of China set today's daily reference rate for the yuan at 6.1564 per dollar, compared to yesterday's reference rate of 6.1535. The People's Bank of China sets the daily reference rate every morning and allows the currency to move upto 2 percent from that level.

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InstaForex Gertrude · Guru

U.K. House Price Sentiment Rises At Slower Rate In July

The U.K 's current house prices sentiment rose in July, although at a slower pace than in June, results of a survey by Knight Frank and Markit Economics showed Friday. The house price sentiment index, an indicator of house price trends, came in at 62.4 in July, a slight decrease from the 62.5 reading in the previous month. Any reading above 50 indicates rise in prices and this month's reading marked the sixteenth consecutive month of increase in house prices. The index rose in all the surveyed regions, with London showing the steepest increase as the index came in at 70.5 in July. The index was at 69.7 in the South East region and 68.3 in the East of England region. The future house price sentiment index, measuring the expectations of house prices, inched up to 71.7 in July from 71.6 in June. This was above the recent 75.1 peak reading, indicating that a more modest rise in prices is expected. However, the rate at which house prices are expected to rise eased in five of the eleven surveyed regions. Future price rise expectations decline in London, as the index decreased to 76.8 in July. This was notably lower than April's peak reading of 83.1. Those who own their home outright are the most confident that prices will rise over the next year. "There is increasing evidence that momentum in the housing market may be starting to ease, with expectations for future price rises remaining near six-month lows." said Gr?inne Gilmore, head of UK residential research at Knight Frank. "Increased discussion about interest rate rises may be taking some of the steam out of the market, as well as new mortgage rules which are serving to slow down the lending process, and make it trickier for buyers to climb onto the housing ladder, especially in areas where house price to income ratios are at their highest."

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InstaForex Gertrude · Guru

U.S. Dollar Slides Against Euro, Yen

The U.S. dollar weakened against the euro and the yen in the Asian session on Monday. Against the euro, the U.S. dollar fell to a 4-day low of 1.3537, from an early high of 1.3522. The greenback slipped to 101.21 against the yen, from an early high of 101.37. If the greenback extends its decline, it is likely to find the support around 1.36 against the euro and 100.97 against the yen.

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InstaForex Gertrude · Guru

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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InstaForex Gertrude · Guru

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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InstaForex Gertrude · Guru

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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InstaForex Gertrude · Guru

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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InstaForex Gertrude · Guru

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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InstaForex Gertrude · Guru

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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InstaForex Gertrude · Guru

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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InstaForex Gertrude · Guru

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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InstaForex Gertrude · Guru

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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InstaForex Gertrude · Guru

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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InstaForex Gertrude · Guru

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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InstaForex Gertrude · Guru

Hong Kong Private Sector Activity Improves In July

Hong Kong's private sector activity expandedin July as output improved, results of a survey by Markit Economics and HSBC Bank showed Tuesday. The HSBC purchasing managers' index, or PMI, for the private sector, rose marginally to 50.4 in July from 50.1 in June. This marked the highest reading in five months and signaled continued expansion in activity. A reading above 50 indicates expansion in private sector activity. Private sector output grew for the first time in five months, though at a slow pace, in July. Client demand improved in July as demand from Mainland China increased. However, new orders declined for the third consecutive month, though at a marginal rate. Job shedding decreased to the slowest rate in four months in July. Input costs increased further but at the second-weakest rate in eleven months. Output prices increased marginally and the rate of increase was the joint-slowest since the start of the current sequence of inflation began in May 2013. "Hong Kong's economy is stabilising, although it is still not yet back to normal as the PMI for July only showed a marginal return to overall growth and new orders remained in contraction. Still, there was an encouraging rebound in new business from China, which could potentially be sustained given the improving economic data from the Mainland of late," said John Zhu, HSBC economist.

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InstaForex Gertrude · Guru

UK July Shop Prices Fall At Record Rates

Shop prices in the U.K. declined at the fastest rate in survey-history in July, data from the British Retail Consortium showed Wednesday. The shop prices index fell 1.9 percent year-over-year in July following the 1.8 percent fall in June. Economists had expected a 1.6 percent drop in shop prices. This marked the fastest rate of deflation since the series began in December 2006. Food inflation fell to 0.3 percent, the lowest in survey-history. Non-food deflation slowed to 3.3 percent in July from 3.4 in June.

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InstaForex Gertrude · Guru

Yuan Strengthens To Near 2-month High Against U.S. Dollar

The Chinese yuan strengthened against the U.S. dollar in the Asian session on Thursday. Against the greenback, the yuan rose to nearly a 2-month high of 6.1570. At yesterday's close, the yuan was trading at 6.1625 against the greenback. If the yuan extends its uptrend, it is likely to find resistance around the 6.14 area. The People Bank of China set today's central parity rate for yuan at 6.1670 per dollar, compared to Wednesday's reference rate of 6.1681. The central bank sets the reference rate every morning and allows the currency to move upto 2 percent from that level.

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InstaForex Gertrude · Guru

Usd/cny Review

Quotes from Standard Chartered:

-China's official manufacturing PMI for July, at 51.7, was the highest since H1-2012. This has translated into a pick-up in sentiment and a sharp rise in the Chinese yuan (CNY).

-Despite broader US dollar (USD) strength causing the fixing to move higher, the move in onshore USD-CNY has caused spot and the fixing to converge. USD-CNY is now trading at the strong end of the band for the first time since March 2014.

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InstaForex Gertrude · Guru

Japan Money Supply Rises As Expected In July

Money supply in Japan increased at a stable rate in July, confirming the consensus estimate, the Bank of Japan said Monday. The M2 money stock grew 3 percent year-over-year in July, the same rate as in June. This confirmed economists' expectations. The M3 money supply increased 2.4 percent year-over-year, in line with the consensus estimate, following a revised 2.5 percent increase in June.

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InstaForex Gertrude · Guru

Australia Business Confidence Climbs In July - NAB

An index measuring business confidence in Australia touched a four-year high in July, the latest survey from National Australia Bank revealed on Tuesday - showing a score of +11.

That's up from +8 in June.T

The index for business conditions came in with a score of +2, rising from +2 in the previous month.

Among the individual components of the survey, home construction, retailing, sales, profitability and employment all showed improvement in July, the bank said.

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InstaForex Gertrude · Guru

Japan GDP Dips 6.8% On Year In Q2

Japan's gross domestic product tumbled 6.8 percent on year in the second quarter of 2014, the Cabinet Office said in Wednesday's preliminary reading. That beat forecasts for a decline of 7.1 percent following the downwardly revised 6.1 percent gain in the first quarter (originally 6.7 percent). On an annualized quarterly basis, GDP dipped 1.7 percent - also beating expectations for a contraction of 1.8 percent following the downwardly revised 1.5 percent increase in the previous three months (originally 1.6 percent). The GDP deflator was up 2.0 percent on year, beating forecasts for 1.6 percent after easing 0.1 percent in the first quarter.

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InstaForex Gertrude · Guru

New Zealand Manufacturing Sector Slows Slightly

The manufacturing sector in New Zealand continued to expand in July, albeit at a slightly slower pace, the latest Performance of Manufacturing Index from Business NZ revealed on Thursday with a score of 53.0. That's down marginally from the upwardly revised 53.4 in June (originally 53.3). A reading above 50 signals expansion in a sector, while a score below means contraction. The index has been in expansionary territory for 22 straight months. All five individual components expanded in July, including new orders, production, employment, finished stocks and deliveries.

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InstaForex Gertrude · Guru

Sri Lanka's Central Bank Keeps Rates Unchanged

Sri Lanka's central bank decided to leave its key interest rates unchanged on Friday as the outlook for inflation remains benign. The Central Bank of Sri Lanka kept its Standing Deposit Facility Rate unchanged at 6.50 percent and the Standing Lending Facility at 8.00 percent. The bank has kept its key rates unchanged for the seventh straight meeting. The bank last reduced its lending rate by 50 basis points in January and narrowed the rate corridor. Although headline inflation accelerated to 3.6 percent in July from 2.8 percent in June, it continued to remain in low single digit levels, it noted. Supply disturbances triggered by adverse weather conditions could cause temporary price fluctuations, but the outlook for inflation remains benign supported by relatively stable international commodity prices as well as well contained demand pressures and inflation expectations, the bank said. Further, the bank expects real economic growth to remain broadly on target this year and broad money to grow around 13 percent by end-2014, down from the prior estimate of 14 percent. With Sri Lanka's economy staying robust in recent months, there is no urgent need for monetary policy easing to support growth, Krystal Tan, an Asia economist at Capital Economics, said. On balance, if credit growth picks up in the coming months as expected, rates are likely to remain on hold for the rest of the year, the economist said

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InstaForex Gertrude · Guru

RBA Keeps Rates Unchange

The Reserve Bank of Australia, or RBA, decided on Tuesday to keep its key interest rate unchanged. The monetary policy board decided to maintain the cash rate at 2.5 percent in its August meeting. The same rate has been maintained since August 2013. "Members noted that there was inevitably a significant degree of uncertainty about the outlook, given the number of forces working in different directions." the RBA said in the minutes. Despite recent higher readings, inflation is expected to be in line with the target of 2-3 percent over the next two years, the Board said. The Board assessed that the current monetary policy was appropriately configured and remained accommodative and supportive of demand. The most prudent course is likely to be a period of stability in interest rates, the Board said.

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InstaForex Gertrude · Guru

Australia Leading Index Slows In July - Westpac

The Australian economy remained slightly below trend in July, the latest leading index from Westpac Bank/Melbourne Institute revealed on Wednesday - easing 0.1 percent on month. That follows the 0.1 percent increase in June. "The index continues to indicate that we can expect growth in the Australian economy to stay below trend in the second half of 2014 and into 2015," Westpac said. "We do not expect to see the Reserve Bank changing rates anytime over the next year."

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InstaForex Gertrude · Guru

German Business Climate Data Due On Monday

The results of IfO's survey on German business climate and Spain's producer prices are among the handful of economic data scheduled for release on Monday. At 4 am ET, research institute IfO is due to release the results of its business climate survey for Germany. The business climate index is expected to decrease to 107 in August from 108 in July. The current conditions index is estimated to drop to 112 in August from 112.9 in July. The expectations index is forecast to slide to 102 from 103.4 in July. At 3 am ET, the Czech Statistical Office is scheduled to release its consumer confidence report for August. In July, the consumer confidence index was at -2.3. The business confidence index stood at 10.1 in July and the combined index measuring consumer and business confidence was at 7.6. Around the same time, Spain's national statistical office INE is due to release its producer prices report for July. In June, producer prices had risen 0.4 percent year-over-year and 0.9 percent month-over-month. Statistics Netherlands will release its producer confidence report for August at 3:30 am ET. In July, the producer confidence index stood at 1.2. At 7:30 am ET, the Central Bank of the Republic of Turkey is scheduled to release its capacity utilization data for August. In July, the capacity utilization was at 74.9. The National Bank of Belgium, or BNB, will release its report on business confidence for August at 9 am ET. In July, the business sentiment index based on BNB's survey was at -7.5.

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InstaForex Gertrude · Guru

NZ Dollar Slides After Trade Data

he NZ dollar weakened against the other major currencies in the Asian session on Tuesday as nation's trade data showed a wider-than-expected deficit for April.

Data from the Statistics New Zealand showed that New Zealand saw a merchandise trade deficit of NZ$ 692 million in July. This was wider than the shortfall of NZ$ 475 million expected by economists and followed the NZ$ 247 million surplus in June. Exports were down 3.3 percent, while imports tumbled 4.8 percent.

The NZ dollar fell to nearly a 9-month low of 1.1168 against the Australian dollar and a 6-month low of 0.8310 against the U.S. dollar, from early highs of 1.1137 and 0.8346, respectively and held steady thereafter.

Against the yen and the euro, the kiwi dropped to a 6-day low of 86.49 and a 5-day low of 1.5863, from early highs of 86.85 and 1.5801, respectively and held steady thereafter.

Looking ahead, U.S. durable goods orders for July, house price indexes for June based on two separate surveys by the Federal House Finance Agency and the S&P/Case-Shiller and consumer confidence index for August are due to be released in the New York session.

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InstaForex Gertrude · Guru

South Korea Consumer Confidence Rises In August

An index measuring consumer confidence in South Korea was up in August, the Bank of Korea said on Wednesday, coming in with a score of 107.0 - up from 105.0 in July. Consumer sentiment on current living standards was one point higher than in the previous month at 92, while that for their outlook remained the same at 100. Consumer sentiment regarding current domestic economic conditions was up by six points compared to July, at 81, while that for their future outlook was eight points higher at 100. Consumer sentiments on prospective changes in household income and on expected spending stood at 101 and 109 respectively, unchanged from the month before. The expectation for inflation over the following year was 2.8 percent.

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InstaForex Gertrude · Guru

South Korea Has $7.91 Billion Current Account Surplus

South Korea posted an unadjusted current account surplus of $7.91 billion in July, the Bank of Korea said on Thursday - remaining in the black for the 29th consecutive month. The headline figure is little changed from June's surplus of $7.92 billion. The goods account surplus widened to $6.86 billion, from $6.65 billion in the previous month. The services account deficit narrowed to $0.01 billion from $0.58 billion a month earlier as deficit on the use of intellectual property account improved, the bank said. The primary income account surplus narrowed to $1.49 billion from $2.23 billion in the previous month due to a substantial decrease in income on the equity account. The secondary income account recorded a deficit of $0.43 billion. The financial account recorded a net outflow of $5.92 billion, down from $9.84 billion in June. Direct investment recorded a net outflow of $1.01 billion down from $2.06 billion a month earlier, as residents' outward investment decreased. Portfolio investment recorded a net outflow of $1.74 billion, down from $4.22 billion in June, due primarily to a large net inflow of foreign investors' equity securities investment. Financial derivatives posted a net inflow of $0.50 billion. Other investment shifted to a net outflow of $0.34 billion, from a net inflow of $0.28 billion in the previous month due mostly to increased lending by domestic financial institutions. Reserve assets increased by $3.33 billion. Through the first seven months of 2014, the current account surplus is $47.1 billion.

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InstaForex Gertrude · Guru

UK Consumer Confidence Index Rebounds In August

An index measuring consumer confidence in the United Kingdom climbed back into positive territory in August with a score of +1, GfK said on Friday. That beat expectations for a score of -1 following the -2 reading in July. The August reading matched the nine-year high mark in June. "There is no guarantee how long this stable position will last - a rush of good or bad economic news could set off a marked rise or fall, but things could stay like this for a while," said Nick Moon, managing director of social research at GfK.

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InstaForex Gertrude · Guru

Taiwan Aug Manufacturing PMI Rises At Fastest Rate Since 2011

Taiwan's manufacturing activity grew at the fastest pace in more than three years in August, results of a survey by Markit Economics and HSBC Bank showed Monday. The HSBC Purchasing Managers' Index for the manufacturing sector rose to 56.1 in August from 55.8 in July. This marked the fastest rate of improvement in manufacturing activity since April 2011. A reading above 50 signals expansion in activity. New orders increased at the fastest pace since the start of 2011 in August. The increase in new work supported the sharp rise in manufacturing production, though the rate of increase was slightly slower than in the previous month. This marked the twelfth consecutive month of growth in production. Also, staffing levels improved for the fifteenth straight month in August. The rate of increase was little changed from the 39-month high recorded in July. Input costs inflation eased in August from July's peak. Meanwhile, output prices fell for the seventh consecutive month.

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InstaForex Gertrude · Guru

Japan July Labor Cash Earnings Growth Quickens Unexpectedly

Total labor cash earnings in Japan grew at a faster rate in July, defying expectations of a slow down, a report from the Ministry of Health, Labor and Welfare showed Tuesday. Total earnings increased 2.6 percent year-over-year in July following the revised 1 percent rise in June. Economists had expected earnings to grow 0.9 percent. Contractual earnings climbed 0.9 percent, after the 0.4 percent increase in June. Scheduled earnings rose 0.7 percent in July, which was faster than the revised 0.2 percent growth in the previous month.

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InstaForex Gertrude · Guru

New Zealand Building Value Gains 1.0% In Q2

The value of all building in New Zealand added a seasonally adjusted 1.0 percent on quarter in the second quarter of 2014, Statistics New Zealand said on Wednesday. The unadjusted value of all building activity in Q2 was NZ$3.8 billion, including NZ$2.3 billion residential building work, and NZ$1.4 billion non-residential building work. The headline figure beat expectations for a flat reading on quarter following the downwardly revised 15.0 percent surge in the first quarter (originally 16.0 percent). Non-residential building activity volume climbed a seasonally adjusted 2.5 percent, while residential building activity was unchanged from last quarter. "The trend for all building activity has been generally rising for nearly three years, and is just 0.7 percent lower than the series high in the June 2005 quarter," said business indicators manager Neil Kelly. On a yearly basis, building activity grew most in Auckland and Canterbury regions this quarter. The non-residential buildings volume trend is now 19 percent higher than the most recent low point in the September 2013 quarter, the bureau said, and is just 1.3 percent lower than the series high eight years ago in the March 2006 quarter. Growth continues in the residential building volume trend; however, it is still 7.0 percent lower than the series high in the June 2004 quarter. The all buildings volume trend has been generally rising for 11 quarters, and is now just 0.7 percent lower than the series high in the June 2005 quarter.

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InstaForex Gertrude · Guru

South Korea GDP Expands 3.5% In Q2

South Korea's gross domestic product expanded 3.5 percent on year in the second quarter of 2014, the Bank of Korea said in Thursday's preliminary reading. That was a slight downward revision from July's advance estimate which suggested an increase of 3.6 percent. It also slowed from the 3.9 percent gain in the first quarter. On a seasonally adjusted annualized quarterly basis, GDP expanded 0.5 percent - also a downward revision from the 0.6 percent increase originally reported. GDP was up 0.9 percent on quarter in Q1.

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InstaForex Gertrude · Guru

Construction Sector Expands Again In August - AiG

The construction sector in Australia expanded at an accelerated pace in August, the latest survey from the Australia Industry Group revealed on Friday with a performance of construction index score of 55.0. That touches a nine-month high for the index, which came in at 52.6 in July. A reading above 50 signals expansion in a sector, while a score below means contraction. Among the individual components of the survey, apartment building, house building and commercial construction all continued to expand, while engineering construction remained in contraction.

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InstaForex Gertrude · Guru

New Zealand Q2 Manufacturing Activity Slows

The total volume of sales for manufacturing activity dropped a seasonally adjusted 0.7 percent in the second quarter of 2014 compared to9 the previous three months, Statistics New Zealand said on Monday - following the 0.5 percent gain in Q1. Excluding meat and dairy product manufacturing, sales were up 0.1 percent on quarter. Meat and dairy product manufacturing fell 1.4 percent. "Meat and dairy manufacturing sales have edged down in the last two quarters following a large rise in the December 2013 quarter," business indicators manager Neil Kelly said. Among the other components of the data, sales for chemical, polymer, and rubber product manufacturing fell 3.0 percent, while sales for petroleum and coal product manufacturing advanced 2.4 percent. By value, total manufacturing tumbled 1.9 percent on quarter, or NZ$481 million. Excluding meat and dairy product manufacturing, sales eased 0.2 percent. Meat and dairy product manufacturing dropped 5.7 percent, or NZ$485 million. The trend for the total manufacturing sales volume, which gives a longer-term picture of movements, has flattened after recent rises, the bureau said.

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InstaForex Gertrude · Guru

New Zealand August Retail Credit Card Spending +0.5%

Retail credit card spending in New Zealand added a seasonally adjusted 0.5 percent on month in August, Statistics New Zealand said on Tuesday. That missed forecasts for an increase of 0.6 percent following the upwardly revised 0.1 percent gain in July (originally flat). Total credit card spending was up 0.3 percent on month following the 0.2 percent decline in the previous month.

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