Forex news from InstaForex
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  1. #261


    IMF Says Ready To Cooperate With ECB On New Program

    The International Monetary Fund is ready to work with the European Central Bank in the effective implementation of its new crisis-fighting measures, IMF Managing Director Christine Lagarde said on Thursday.

    Welcoming the ECB decision, she said "the IMF stands ready to cooperate within our frameworks."

    Decisive implementation of the new intervention program will help repair monetary transmission, and support countries' efforts to secure finance at a reasonable cost while they undertake sustained macroeconomic adjustment, Lagarde said.

    "We see the ECB's action as an important step toward strengthening stability and growth in the Euro Area," she added.

    Meanwhile, in a regular press briefing on Thursday, IMF External Relations Department Director Gerry Rice said the IMF mission will go back to Athens around the middle of next week.

    Confirming earlier reports, Rice said a conversation did take place between Lagarde and Greek Prime Minister Antonis Samaras and they discussed the current economic situation in Greece and developments in the euro area.

    Responding to a query on a possible Spain bailout, he clarified that Spain has not requested IMF financial support and the Fund is not working on any plan in this regard.

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  2. #262


    Japan Final Q2 GDP +0.2% On Quarter

    Japan's gross domestic product added just 0.2 percent in the second quarter of 2012 compared to the previous three months, the Cabinet Office said on Monday in a revised reading - again suggesting that the recovery from the March 2011 earthquake and tsunami remains stuck in neutral.

    The headline figure was down from last month's preliminary reading of 0.3 percent, and it was significantly lower than the 1.2 percent gain in the first quarter.

    Nominal GDP was down 0.3 percent on quarter, revised from -0.1 percent in the preliminary ready and missing forecasts for -0.2 percent.

    Capital spending was up 1.4 percent on quarter, down from the original read of 1.5 percent but still topping forecasts for a 0.9 percent increase. Its contribution to growth was unchanged at 0.2 percentage points.

    But private sector inventories removed 0.2 percentage points from growth and net exports took off 0.1 percentage point.

    On a yearly basis, GDP was up 0.7 percent - cut in half from the preliminary reading that showed a 1.4 percent increase, and missing forecasts for a slide to 1.0 percent. GDP had surged 4.7 percent in the previous three months.

    The GDP deflator fell 0.9 percent on year, beating forecasts for a 1.1 percent contraction, which would have been unrevised.

    Also on Monday, the Ministry of Finance said that Japan posted a current account surplus of 625.4 billion yen in July, down 40.6 percent on year. The headline figure blew away forecasts for a surplus of 485.6 billion yen and an annual decline of 52.0 percent. That follows the 433.3 billion yen surplus and the 19.6 percent annual contraction in June.

    The trade balance came in at a deficit of 373.6 billion versus forecasts for a shortfall of 439.5 billion after posting a surplus of 112.0 billion in June. Exports were down 7.4 percent on year to 5.118 trillion yen, accelerating from the 1.5 percent annual contraction in June. Imports collected 1.9 percent on year to 5.491 trillion yen after easing an annual 1.2 percent in the previous month.

    The adjusted current account reflected a surplus of 335.4 billion yen, missing forecasts for a surplus of 389.0 billion yen following the 773.6 billion yen surplus in June.

    Also, the Bank of Japan said that overall bank lending in Japan was up 1.1 percent on year in August, coming in at 396.432 trillion. That was in line with expectations following the downwardly revised 0.9 percent annual increase in July - which was originally pegged at 1.0 percent higher.

    Including trusts, bank lending added 0.9 percent on year to 458.219 trillion yen - up from the 0.7 percent increase in the previous month. Lending from foreign banks plummeted 21.7 percent on year to 2.147 trillion yen, after plunging an annual 22.4 percent a month earlier.

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  3. #263


    UK House Price Balance Rises To -19 In August - RICS

    An index measuring the average asking price for a home in the United Kingdom came in at -19 in August, the Royal Institution of Chartered Surveyors revealed on Tuesday in its month balance.

    That beat forecasts for a score of -22 after coming in at an upwardly revised -23 in July (originally -24).

    Among the individual components of the survey, the newly agreed sales balance jumped to 5 from -18 in July, while the new vendor instructions balance rose to 0 in August from -12.

    The three-month price expectations balance rose to -13 from -21, while the 12-month price expectations balance was up to -17 from -24.

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  4. #264


    Japan Tertiary Industry Index Falls 0.8% In July

    An index measuring tertiary industry activity in Japan was down a seasonally adjusted 0.8 percent on month in July, the Ministry of Economy, Trade and Industry said on Wednesday - coming in at 98.7.

    That missed forecasts for a contraction of 0.5 percent following the upwardly revised 0.2 percent increase in June.

    Industries that contributed to the decrease included wholesale and retail trade, transportation, finance, personal services, accommodations and learning support.

    Industries that contributed to the increase included utilities, real estate, communications, scientific research and health care.

    More Forex News - at[/QUOTE]

  5. #265


    NZ Dollar Slips Versus Majors As RBNZ Holds Official Cash Rate Unchanged

    The New Zealand dollar edged down against major opponents after the announcement of Reserve Bank of New Zealand's interest rate decision in early Asian trading on Thursday. The Reserve Bank of New Zealand left its Official Cash Rate (OCR) unchanged at 2.5 percent.

    The OCR has held steady at 2.50 percent since March 2011.

    At present, the NZ dollar is trading near 63.84 against the Japanese yen, 1.5746 versus the euro, 1.2775 against the Australian dollar and 0.8198 versus the US dollar.

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  6. #266


    New Zealand Food Prices -0.5% In August

    Food prices declined 0.5 percent on year in August, Statistics New Zealand said on Friday, after falling 1.8 percent in July.

    Among the individual categories, prices were down 2.1 percent for grocery food and 0.7 percent for meat, poultry and fish. Offsetting the decline, restaurant meal prices were up 1.3 percent.

    "Food prices are slightly lower than a year ago, reflecting cheaper vegetables, dairy products and lamb," prices manager Chris Pike said in a statement accompanying the data "Annual food prices have now fallen for four months in a row. This hasn't happened since 2010, when a run of four annual falls also ended in August."

    Among individual items, lettuce was down 39 percent, followed by fresh milk (down 9.2 percent), and broccoli (down 50 percent). Lamb prices decreased 19 percent from their peak in August 2011.

    The food items that increased most for the year were: tomatoes (up 26 percent), fresh chicken pieces (up 9.2 percent), and kumara (up 90 percent).

    Kumara prices reached their highest level since February 2008, influenced by low prices in August 2011 and poor weather conditions in both the planting and harvesting seasons, which affected this year's crop.

    On a monthly basis, food prices were up 0.1 percent after adding 0.2 percent in the previous month.

    Fruit and vegetable prices rose 1.5 percent, reflecting higher tomato prices (up 31 percent). Non-alcoholic beverage prices rose 1.3 percent, reflecting higher prices for fruit juice and soft drinks.

    These prices were influenced by less discounting than in July 2012. Grocery food prices fell 0.7 percent - the fifth fall in six months.

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  7. #267


    Yen Slightly Off Early Lows Against Pound And U.S. Dollar

    The Japanese yen that declined against the pound and the U.S. dollar in early Monday Asian trading bounced back slightly shortly thereafter.

    The yen is now trading at 126.91 against the pound, compared to a 4-month low of 127.35 hit in early deals.

    The yen also recovered from a 10-day low of 78.49 against greenback and the pair now trading at 78.22.

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  8. #268


    Yen Rises Against Majors

    The Japanese yen advanced against its major opponents in Asian morning deals on Tuesday.

    The yen is now trading at 78.54 against the greenback, 102.87 against the euro, 84.72 against the franc, 127.57 against the pound and 64.81 against the kiwi.

    Against the Canadian and Australian dollars, the yen is trading at 4-day highs of 80.55 and 82.06, respectively.

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  9. #269


    NZ Dollar Advances To 5-day High Versus Euro

    During early Asian deals on Wednesday, the New Zealand dollar traded higher against its major counterparts after the releasing of Q2 current account balance data.

    The Statistics New Zealand reported that New Zealand saw an unadjusted current account deficit of NZ$1.797 billion in the second quarter of 2012.

    That missed expectations for a shortfall of NZ$1.620 billion following the upwardly revised deficit of NZ$1.072 billion in the first quarter.

    At 7:25 pm ET, the kiwi climbed to a 5-day high of 1.5757 versus the euro, compared to yesterday's closing value of 1.5779.

    The NZ unit also edged up against the US dollar and the Japanese yen in early trading and as of now worth 0.8285 and 65.30, respectively.

    More Forex News - at[/QUOTE

  10. #270


    New Zealand Dollar Trades Higher Amid GDP Data

    In the early Asian session on Thursday, the New Zealand dollar reversed its direction and traded higher against other major currencies following the release of nation's better-than-expected gross domestic product report for the second quarter.

    Statistics NZ reported that New Zealand's economy expanded 0.6 percent in the second quarter of 2012 compared to the previous three months. That beat forecasts for an increase of 0.4 percent following the downwardly revised 1.0 percent expansion in the first quarter (originally 1.1 percent).

    On a yearly basis, GDP jumped 2.6 percent, also beating estimates for an increase of 2.4 percent, which would have been unchanged from the previous three months.

    The kiwi advanced to 0.8305 against the U.S. dollar, its strongest level since September 17. This may be compared to an early 2-day low of 0.8254. If the kiwi rises further, it may target 0.835 level. The kiwi-greenback pair closed yesterday's deals at 0.8270.

    Against the Australian currency, the kiwi advanced to 1.2612, reversing from a 3-day low of 1.2703. The next resistance level for the kiwi is seen at 1.26. The pair closed Wednesday's deals at 1.2682.

    The kiwi that rose to 1.5728 against the euro from a 2-day low of 1.5819 held steady thereafter. The next upside target level for the kiwi is seen at 1.565. At Wednesday's close, the pair traded at 1.5789.

    The kiwi that bounced back from a 6-day low of 64.70 against the yen edged up to 65.12 before moving sideways thereafter. The kiwi ended yesterday's deals at 64.83 versus the yen.

    Japan saw a merchandise trade deficit of 754.127 billion yen in August, the Ministry of Finance said today.

    That beat forecasts for a shortfall of 829.3 billion yen following the downwardly revised deficit of 518.9 billion yen in July (originally 517.382 billion yen).

    Looking ahead, Bank of Japan's monthly economic report is due at 1:00 am ET.

    German producer prices, U.K. retail sales and Swiss trade data -all for August, PMI's from major European economies and Switzerland's second quarter industrial production are expected in the New York morning session.

    From the U.S., weekly jobless claims for the week ended September 15 and leading indicators for August are expected in the American morning session.

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    Last edited by IFX Kerstin; 09-20-2012 at 04:02.

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