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Thread: Economic News from InstaForex

  1. #1

    Default Economic News from InstaForex

    Spanish Economy Contracts More Than Initially Estimated
    The Spanish economy contracted 1.1% sequentially in the second quarter, larger than the initial estimate of 1% decline, a revised report from the National Statistics Institute showed Thursday. On an annual basis, gross domestic product dropped 4.2% compared to prior quarter's 3.2% decline.

    The statistical office revised the annual decline for the second quarter from 4.1% estimated initially.


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  2. #2

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    Euro Advances Against Most Majors
    In early deals on Thursday, the euro showed strength against its U.S., U.K. and Swiss counterparts as a report showed that the German consumer confidence rose in September.

    On the other hand, the euro weakened to a 6-day low against the yen due to across the board rallying of the latter.

    German consumer sentiment rose to 3.7 for September from a revised value of 3.4 points in August, a monthly survey from the market research firm GfK showed. The September reading matched economists' expectations. However, the consumer climate continues to remain at a relatively low level in a longer term comparison.

    The market research group said consumer climate would be strongly affected by discernible increases in unemployment over the course of this year.

    Economic expectations rose 6.5 points to minus 7.5 in August. While, income expectations climbed 7 points to 8.8 and the propensity to buy stood at 31.1 points in August, its highest position since December 2006.

    The German economy, Europe's largest, unexpectedly emerged from recession in the second quarter as government stimulus measures, such as a 2,500-euro ($3,557) subsidy for people who scrap an old car to buy a new one, propped up consumption. Business and investor confidence jumped this month, signaling the economic recovery may gather momentum.

    The government of Chancellor Angela Merkel, who will seek a second term in office in national elections on Sept. 27, is spending about 85 billion euros ($121 billion) to revive the economy, which it predicts will contract 6 percent this year.

    In addition, Italian consumer confidence rose more than expected in August to reach its highest level since March 2007, economic think tank ISAE said today. The households' sentiment index climbed to 111.8 in August from 107.5 in July, while economists had forecast a slight increase to 107.9.

    A gain in European stocks also supported the euro. Despite a fall in most Asian stocks, the European stocks opened higher today and at 3:17 am ET, the FTSEurofirst 300 .FTEU3 of top European shares was up 0.3 percent at 976.51 points, after slipping back from a 10-month closing high on Wednesday.

    At 3:15 am ET Thursday, the euro reached 1.4270 against the dollar, up from yesterday's close of 1.4257. The next likely target for the euro-dollar pair is seen at 1.435.

    The euro, which closed yesterday's trading at 0.8775 against the pound strengthened to 0.8805 in early deals on Thursday. If the euro-pound pair gains further, it may likely target a new multi-month high of 0.8810.

    House prices in the UK rose for the fourth consecutive month in August, increasing by 1.6% month-on-month on a seasonally adjusted basis, the Nationwide building society said today. Economists had forecast house prices to grow only 0.5% after a revised increase of 1.4% in July.

    Compared to the previous year, house prices fell 2.7% in August, much slower than the 6.2% decline seen in July.

    During early deals on Thursday, the euro climbed to 1.5235 against the Swiss franc. This may be compared to yesterday's close of 1.5224. On the upside, 1.5240 is seen as the next target level for the European currency.

    The euro plunged to a 6-day low of 133.14 against the yen in early deals on Thursday. If the euro slides further, it may target the 132.9 level. At yesterday's close, the euro-yen pair was quoted at 134.41.

    Looking ahead, the European Central Bank is set to release M3 money supply for July at 4:00 am ET. Euro-zone money supply is expected to grow 3.2% year-on-year in July versus 3.5% in June.

    At 4.30am ET, British business investment for the second quarter is due from the Office for National Statistics. Business investment is forecast to drop 12.2% year-on-year in the second quarter compared to a 9.7% fall in the first quarter.

    The Confederation of British industry is set to issue the Distributive Trades survey at 6.00am ET.

    From the U.S., the Bureau of Economic Analysis is due to release its preliminary second quarter GDP report at 8:30 am ET. The report is likely to show that the U.S. economy contracted at a 1.4% rate in the quarter.

    At the same time, the Labor Department is due to release its customary weekly jobless claims report for the week ended August 23.


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  3. #3

    Talking

    Quote Originally Posted by IFX Darika View Post
    Spanish Economy Contracts More Than Initially Estimated
    The Spanish economy contracted 1.1% sequentially in the second quarter, larger than the initial estimate of 1% decline, a revised report from the National Statistics Institute showed Thursday. On an annual basis, gross domestic product dropped 4.2% compared to prior quarter's 3.2% decline.

    The statistical office revised the annual decline for the second quarter from 4.1% estimated initially.


    News are provided by InstaForex
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  4. #4

    Default UK House Prices Rise For Fourth Month In August - Nationwide

    House prices in the UK rose for the fourth consecutive month in August, increasing by 1.6% month-on-month on a seasonally adjusted basis, the Nationwide building society said Thursday. Economists had forecast house prices to grow only 0.5% after a revised increase of 1.4% in July.

    Compared to the previous year, house prices fell 2.7% in August, much slower than the 6.2% decline seen in July. The average price of a typical UK property stood at GBP 160,224, up from GBP 158,871 in July.

    Over the first eight months of 2009, the seasonally adjusted index of house prices has risen by 3.2%, though relative to the October 2007 peak it is down by 14.4%, the Nationwide said.

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  5. #5
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    Default

    Quote Originally Posted by Metatrader7 View Post
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    And serving free drinks and free shows like in casinos please.
    Dear Metatrader7,
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  6. #6

    Default

    European Currency Falls From 4-day High Against Dollar And Yen.

    During early European deals on Tuesday, the European currency declined from a 4-day high against the US dollar and the Japanese yen. The euro also edged down versus the Swiss franc, while rose to a 5-day high against the British pound.

    In economic news from Europe, a key indicator for Eurozone manufacturing activity increased to a 14-month high in August, rising more than initially estimated, a report by Markit Economics said today. However, the sector continued to contract, though at a slower pace. The final Markit Manufacturing Purchasing Managers' Index or PMI climbed to 48.2 in August from 46.3 in July. The index also stood above the flash estimate of 47.9. The final reading came in above the flash for the fifth month running.

    Eurostat said in a report that Eurozone jobless rate stood at 9.5% in July, up from 9.4% in the previous month. This was the highest jobless rate since May 1999. The jobless rate came in line with economists' expectations. A year ago, the jobless rate was 7.5%.

    German retail sales recorded a monthly growth in July after declining in the previous two months, official data showed today. Retail turnover rose by a real 0.7% month-on-month in July after falling 1.3% in June, provisional results from the Federal Statistical Office showed today. Retail sales growth matched expectations. Annually, retail sales slipped 1%, slightly slower than the expected decline of 1.2%.

    Against the US dollar, the European currency lost ground after hitting a 4-day high of 1.4379 at 2:00 am ET Tuesday. The euro-dollar pair is currently trading at 1.4327 with 1.415 seen as the next target level.

    The single currency that closed Monday's North American session at 0.8803 against the British pound slipped to a 5-day low of 0.8774 at 3:40 am ET Tuesday. Thereafter, the euro-pound pair reversed its direction and is presently trading at a 5-day high of 0.8838. The next upside target level for the European currency is seen around 0.893.

    The numbers of loan approvals for house purchase in the UK stood at 50,123 in July, up from 47,891 in June, the Bank of England reported today. Economists were expecting a level of 50,100 for July.

    Against the Swiss franc, the 16-nation currency edged down during early deals on Tuesday. At 5:05 am ET, the euro-franc pair declined to 1.5156, compared to 1.5181 hit late New York Monday. If the pair falls further, 1.513 is seen as the next target level.

    The Swiss economy contracted less than expected in the second quarter as investment rebounded and the pace of decline in exports eased, official data showed today.

    Gross domestic product or GDP fell 0.3% sequentially in the second quarter, the State Secretariat for Economic Affairs or SECO said. Economists had forecast GDP to fall 1% in the second quarter after a revised decline of 0.9% in the first quarter. GDP fell for the fourth straight quarter.

    Switzerland's Purchasing Managers' Index rose to 50.2 in August from 44.3 in July, a survey from the SVME Association of Purchasing and Materials Management and Credit Suisse showed Tuesday. The indicator also stood above the expected level of 46.9.

    The euro that reached a 4-day high of 134.17 against the Japanese yen at 3:15 am ET Tuesday weakened thereafter. Currently, the euro-yen pair is quoted at 133.53, compared to Monday's closing value of 133.49. On the downside, 132.2 is seen as the next target level for the pair.

    From the U.S., the ISM manufacturing index for August and the pending home sales and construction spending reports for July have been slated for release in North American session.

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  7. #7

    Default

    your demo is so slow, essp during US session i use it as extra application for visual aid with heavy indicator running. Actually that way CPU doesn't get overloaded as it does with ECN data. And connectivity overall is better then Broco,
    thanks for your help
    Last edited by Metatrader7; 09-03-2009 at 16:54.

  8. #8

    Default Doing Business In China Getting Harder, European Business Lobby Says

    European businesses feel doing business in China is getting harder, a report from the European Union Chamber of Commerce in China showed Wednesday.

    In its business position paper 2009/2010, the business lobby said European businesses have observed a slowdown after China made strict regulations over the past twelve months, with some sectors reporting that the situation has actually gotten worse as industrial-policy interventions and foreign investment restrictions have increased.

    The European Chamber urged China to open up its markets and to make fundamental reforms to maintain the attractiveness of China as an investment destination for European businesses. Such moves will also help China to build a sustainable economic recovery.

    "European businesses believe that the current economic crisis provides a prime opportunity for China to restructure the economy and build a transparent and fair business environment for all companies, both domestic and foreign."

    The European Chamber believes that China can play a proactive role in easing trade tensions by arresting the regression in the reform process observed in many industries and adopting measures to build a level playing field for all businesses in China.

    "Such moves would also serve to boost investment and domestic consumption, and in turn enable the Chinese economy to achieve its latent potential."

    "Over the past year, the European Chamber has noted a gradual slowdown - and in some cases a partial reversal - in the economic opening up process," said Joerg Wuttke President of the European Chamber.

    However, China's experience in the last three decades has clearly proved that it is precisely in periods of crisis that increased opening and reform has bred the greatest success.

    "We are convinced that this is an ideal moment for China to adopt a new and bolder cycle of reforms, a move that would ensure that China maximizes its growth potential over the next five to ten years," Wuttke said.

    The European Chamber will be presenting its paper to government and regulatory agencies in China, to the European Commission and EU member state governments, and to a wide range of business organizations and companies in China and Europe.

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  9. #9

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    Quote Originally Posted by Metatrader7 View Post
    your demo is so slow, essp during US session i use it as extra application for visual aid with heavy indicator running. Actually that way CPU doesn't get overloaded as is does with ECN data. And connectivity overall is better then Broco,
    thanks for your help
    If you have any technical problems you can contact our Support Service by icq: 350070300 or by e-mail: support@instaforex.com
    Regards,
    official representative
    InstaForex Companies Group
    Visit Corporative Weblog

  10. #10

    Default

    Swedish Krona Soars To 10-day High Against Dollar.

    The Swedish krona gained ground against its US counterpart in early trading on Thursday following the Central Banks of both the Sweden and Europe decided to leave their key interest rates unchanged, as expected.

    The Executive Board of the Riksbank maintained the repo rate at a record low of 0.25% and the rate is expected to remain at this low level until autumn 2010. The central bank said the interest rate needs to be low over a long period of time to support a stable recovery and to attain the 2% inflation target.

    The central bank is of the view that supplementary measures are required to ensure the intended effect of monetary policy. So, the Executive Board decided to offer further loans of SEK 100 billion to the banks at a fixed interest rate and with a maturity of around one year. This could help in lowering interest rates on loans given to companies and households, the Riksbank added.

    The central bank further raised the economic outlook and forecasts recovery in the next year. Now, the economy is estimated to shrink 4.9% this year, better than the 5.4% fall estimated previously. The 2010 GDP growth is seen at 1.9% compared to the 1.4% expansion estimated previously.

    The Swedish krona that slumped to a 6-day low of 1.4467 against the greenback on Wednesday has gained around 0.65 percent to touch an 11-day high of 1.4439 by 7:45 am ET. The pair moved sideways thereafter and is currently quoted at 1.4383.

    The Swedish krona ended its Wednesday's trading higher at 1.4424 against the buck. If the domestic currency gains further, resistance is likely to be seen around the 1.432 level.

    Also, the European Central Bank held its key interest rate at a record low level of 1%. The decision was in line with economists' expectations.

    News are provided by InstaForex.
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