Forex News from InstaForex

[IFX Darika]

Following the release of the French August PPI report, the euro showed mixed trading against its major counterparts. While the euro fell against the pound and the yen, it rose versus the franc. Against the dollar, the euro was little changed during this time.

Currently, the euro is worth 0.9095 against the pound, 1.4618 against the dollar, 131.20 against the yen and 1.5114 against the franc.

News are provided by InstaForex.

[IFX Darika]

Financial professionals hold the view that the U.S. economy remains in a recession, despite signs of stability in recent months, a survey said Tuesday. The survey was conducted amongst attendees of the 2009 annual conference of the Association for Financial Professionals on October 5.

Around 20% of respondents assessed that the recession will end before of the year, while 69% expect the recession to continue well into 2010. Nearly 22% expect company payrolls to shrink further, while just 14% anticipate their organization to resume hiring over the next six months.

Only 21% of financial professionals said their organization will increase capital spending in the months ahead. Majority of survey respondents expect to either maintain or further cut capital spending over the coming six months.


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[IFX Darika]

The dollar touched a fresh yearly low versus the euro on Tuesday, even after European Central Bank President Jean-Claude Trichet and finance ministers of the sixteen Eurozone countries expressed "worries" about forex movements and voiced support for a strong U.S. dollar.

Its been a brutal stretch for the dollar of late, particularly against the euro. Amid expectations that the interest rate gap between the US and other industrialized nations will widen rapidly once the economic recovery takes hold, the dollar has fallen almost 25 cents from its 2009 highs against the euro, set back in March.

Late Monday night, the dollar dropped to 1.4993, its lowest level in more than fourteen months. The pair was little changed from that mark approaching 8 am ET.

The dollar barely budged versus most other majors ahead of data on US housing starts and producer prices. The Bank of Canada's interest rate decision may also be in focus.

While most economists expect the BoC to maintain its current overnight call rate, Australia, another resource-based economy, surprisingly hiked its key interest rate earlier this month.

Earnings news will also garner attention as participants continue to look for signs that corporations are able to grow revenues.

The dollar was stuck in the mud versus the loonie ahead of the BoC decision, inching slightly higher to C$1.0320. A surprise from central bankers in Ottawa could drive the dollar to parity with the loonie.

Against the sterling the dollar extended its 6-week low, touching 1.6446. With the loss, the buck moved further away from last week's 5-month high near 1.5700.

Choppy trading kept the dollar above the 90 mark versus the yen. Speculation that Japanese officials may intervene to weaken the yen has helped the dollar rebound after testing a 1995 low of 87.08.

Japan's leading index stood at 83.2 in August, down from the initial estimate of 83.3, the Cabinet Office reported Tuesday. However, the leading index improved for the sixth month in a row. In July, the reading was 82.5.

News are provided by InstaForex.

[IFX Darika]

The dollar surged ahead versus the euro Tuesday morning in New York as the Federal Reserve prepared to meet amid growing anxiety that the economic growth seen over the summer may not be sustainable without continued support measures.

With the US consumer still on edge as unemployment approaches 10 percent, many analysts are pointing out that while the third quarter figures on the economy are somewhat encouraging, organic growth is unlikely until the jobs situation improves.

The safe haven dollar has managed recover versus the euro over the past week, prompting the rally in global equities to run out of steam.

The dollar jumped to a monthly high of 1.4623, rising more than a penny even as traders considered news that the European Commission expects the euro area economy to emerge from recession in the second half of 2009.

However, the economy is set to contract 4% for 2009 as a whole.

Joaquin Almunia, Commissioner for Economic and Monetary Affairs said, "The EU economy is coming out of recession. This owes much to the ambitious measures taken by governments, central banks and the EU that have not only prevented a systemic meltdown but have kick-started the recovery. However, the road ahead is a challenging one."

The dollar firmed up a bit versus the yen, moving back above the 90 mark. The pair has been choppy over the past few weeks, with the buck finding a measure of support after testing a 1995 low in October.

Meanwhile, the dollar was steady versus its Australian counterpart even after the RBA raised its interest rate for the second straight session. The dollar rose to .8920 versus the aussie, but leveled off to .8965 approaching 8 am ET.

In October, Australia became the first G-20 member nation to hike its benchmark interest rate since the onset of the financial crisis in late 2008.

The dollar hit a weekly high versus the sterling, rising to 1.6260 before hitting resistance. On a longer term basis, the pair has been moving between 1.5700 and 1.6700 for months.

All eyes will be on Washington, DC tomorrow as the Fed wraps up its latest policy meeting. While Ben Bernanke and company are universally expected to maintain the key interest rate near zero, traders will be paying close attention to the accompanying statement, looking to see whether rates will be left alone "for some time to come," as the central bank has recently assured.

Looking at today's economic calendar, the government is releasing September factory orders at 10 am ET. Economists are looking for a September gain of 1 percent.

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[frfx2009]

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[IFX Ekaterina]

Dear Sir,
I suppose, your question is not related to the topic.

[boom1]

The single currency that closed Tuesday's North American session at 1.4798 against the Swiss franc touched a 6-day low of 1.4742 at 5:00 am ET Wednesday. The next downside target level for the pair is seen around 1.472.

[IFX Svetlana]

European Economics Preview: Eurozone Economy Forecast To Exit Recession.

Quarterly national account data from Germany, France and the Eurozone are due on Friday, headlining a hectic day for European economic news.

At 2:00 am ET, Germany's Federal Statistical Office is set to release third quarter GDP data. On a sequential basis, the economy is forecast to expand 0.8% in the third quarter, compared to the 0.3% growth in the previous quarter. The gross domestic product is expected to contract 4.8% on an annual basis, slower than the 5.9% decrease reported in the last quarter.

In the meantime, the GDP indicator for the month of September is due from Statistics Finland. In August, the GDP indicator had contracted 8.4% on a yearly basis. The statistical office is also slated to release consumer price data for October at the same time. Economists expect consumer prices to fall 0.8% year-on-year, following the 1% decrease in September. Manufacturing new orders data for September is also due at the same time.

At 2:45 am ET, consumer price figures are due from the French statistical office INSEE. The consumer price index is forecast to fall 0.2% annually in October, slower than the 0.4% decline in the previous month. The monthly inflation rate is seen at 0.1%. EU harmonized consumer prices are expected to fall 0.2% on a yearly basis but to rise 0.1% month-on-month in October.

Also due at the same time, is wage growth data from France. The wage growth rate is seen at 0.5% sequentially in the third quarter, after the 0.4% increase in the preceding quarter.

At 2:50 am ET, the French quarterly national accounts report is due. The French economy is tipped to expand 0.6% sequentially in the third quarter, faster than the 0.3% growth in the second quarter. On a yearly basis, the GDP is expected to shrink 1.9% following the 2.8% contraction in the last quarter.

At 3:00 am ET, third quarter's GDP results are due from the Czech Statistical Office. Economists expect the Czech economy to contract 4.7% annually, slower than the 5.5% decrease in the previous quarter. Retail sales figures for September are also due at the same time from the statistical office. Year-on-year, sales are expected to plunge 6%, faster than the 3.5% drop in the previous month.

Simultaneously, consumer price inflation figures are due from Spain's National Institute of Statistics. Economists expect the CPI to fall 0.6% year-on-year in October, compared to September's 1% fall. On a monthly basis, consumer prices are expected to rise 0.7%. Harmonized consumer prices, meanwhile, are forecast to remain unchanged from preliminary estimates at 0.6% annual decline.

Elsewhere, the Hungarian Central Statistical Office is scheduled to issue GDP data for the third quarter. The Hungarian economy is forecast to contract 6.6% annually, after the 7.5% shrinkage in the previous quarter. Also due at the same time from the statistical office, is final industrial production data for September.

Shortly later at 3:15 am ET, Switzerland's Federal Statistical Office is slated to release producer and import price data for October. Producer and import prices are tipped to fall 4.1% year-on-year in October, slower than the 4.9% decrease in the preceding month. The monthly producer and import price inflation rate is seen at 0.1%.

At 3:30 am ET, third quarter GDP results are due from the Netherlands' Central Bureau of Statistics. The Dutch economy is tipped to exit recession by expanding 0.3% sequentially in the third quarter, compared to the 1.1% decrease in the previous month. Year-on-year, the economy is expected to shrink 4.5%. Also due at the same time from the statistical office, are retail sales and trade balance statistics for September.

Meanwhile, the Statistics Sweden is scheduled to issue the third quarter industry capacity rate. The capacity utilization rate stood at 77% in the second quarter.

Half an hour later, gross domestic product data is due from the Italian statistical office ISTAT. The Italian economy is tipped to expand 0.8% sequentially in the third quarter, following the 0.5% decrease in the previous quarter. On a year-over-year basis, the GDP is expected to contract 4.5%, slower than the 6% fall in the second quarter. The Statistics Austria is also expected to release third quarter GDP results at the same time.

At 5:00 am ET, the Eurozone's third quarter GDP figures are due. The Eurozone economy is widely expected to exit recession and is forecast to expand 0.5% sequentially in the third quarter, rebounding from the 0.2% shrinkage in the last quarter. On a yearly basis, the GDP is expected to fall 3.9%, following the 4.8% drop in the second quarter.

Afterwards at 8:00 am ET, consumer price inflation figures are due from the Polish statistical office. The consumer price inflation rate is expected to ease to 3.2% year-on-year in October from 3.4% in September. Simultaneously, money supply data for October is due from the Polish central bank. Month-on-month, M3 money supply is forecast to grow 1.1%, compared to the 0.9% increase in the previous month.

News are provided by InstaForex.

[PriceActionFX]

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Just a tad off topic

[IFX Darika]

Philippines' consumer price inflation picked up in November driven by higher food, beverage and tobacco prices, official data showed on Friday.

The National Statistics Office said that consumer prices in the Philippines grew 2.8% year-on-year in November, faster than the 1.6% rise in the previous month. The headline inflation rate came in line with economists' expectations. Excluding selected food and energy items, the core inflation rate remained unchanged from October at 2.7%.

The latest increase in consumer prices was attributed to an acceleration in the inflation rate of the heavily weighted food, beverages & tobacco index, up 4.8% in November compared to the 3.7% increase in October. Prices of clothing increased 2.1%, while services prices and prices of miscellaneous items increased 0.2% and 1.9%, respectively. On the other hand, the fuel, light & water index slid 1.1%, slower than the 3.6% fall in the preceding month.

The annual inflation rate in the National Capital Region (NCR) grew 2% in November, adding to the 1.1% increase in October. This was brought about by the higher prices of clothing and slower rate of decline in the prices of fuel, light & water and services, the statistical office said.

In Areas Outside the National Capital Region (AONCR), consumer prices were up 3.1% on year, faster than the 1.9% increase in the prior month. This was mainly due to increases in the food, beverages & tobacco index, fuel, light & water index, and services index. Among the regions, annual inflation rate was highest in Cagayan Valley at 5.6%, while the lowest rate continued to prevail in Central Visayas at 1.7%.

On a monthly basis, consumer prices increased 0.6% on a national level in November, in line with expectations, and adding to the 0.6% growth in October.

The Philippine economy consolidated growth in the third quarter, rising 0.8% year-on-year, the same growth rate as in the second quarter. This compares to the 4.6% growth seen in the third quarter of last year.

News are provided by InstaForex.

[IFX Svetlana]

Wednesday, the yen rose to new multi-day highs against its major counterparts as a fall in global stock prices prompted investors to seek the safety of the Japanese currency.

World stock markets extended their losses today as Japan's much weaker-than-expected economic growth and rising debt loads around the world added to concerns the global recovery was faltering.

Investors in Asia were rattled after Japan downwardly revised its economic growth for the third quarter today to reflect a marked worsening of domestic demand in the country.

The Cabinet Office announced that gross domestic product expanded just 0.3% quarter-on-quarter in the third quarter, revised down from the 1.2% growth estimated initially.

Economists had expected the GDP growth rate to be revised to 0.7%.

After falling sharply Tuesday, European markets added to their losses, with benchmarks in Germany, France and Britain down 0.1 percent or more.

Earlier in Asia, Japan's Nikkei 225 stock average fell 135.75 points, or 1.3 percent, to 10,004.72.

Hong Kong's key index shed 318.76, or 1.4 percent, to 21,741.76, and Shanghai's benchmark was off 1.7 percent at 3,239.57.

Australia's market lost 0.7 percent, India's stock measure declined 0.4 percent and Singapore's market was off 0.3 percent.

The South Korean market defied the downdraft and gained 0.4 percent to 1,634.17, helped after the International Monetary Fund raised the country's economic growth forecast for 2010. Taiwan's market also rose 0.4 percent.

Against the US dollar, the Japanese yen traded higher during early deals on Wednesday. At 3:35 am ET, the yen climbed to a 6-day high of 87.49 against the dollar, compared to 88.45 hit late New York Tuesday. The next upside target level for the yen is seen around 87.1.

The Japanese unit that closed Tuesday's North American session at 130.04 against the European currency reached a 12-day high of 128.80 at 3:55 am ET Wednesday. If the yen gains further, 128.0 is seen as the next target level.

Germany's Federal Statistical Office said today in a final report that the consumer price index or CPI increased 0.4% year-on-year in November, faster than the flat reading in the previous month. The consumer price inflation in November was revised from 0.3% estimated initially. The consumer prices increased for the first time since June 2009.

French trade deficit widened to EUR 4.39 billion in October from EUR 2.80 billion deficit in September, data released by the Customs Office showed today. Economists had forecast deficit to narrow to EUR 2.3 billion.

Against the Japanese currency, the British pound edged higher during today's early deals. At 3:40 am ET, the yen rose to an 8-day high of 142.05 against the pound, compared to Tuesday's closing value of 144.07. On the upside, 141.2 is seen as the next target level for the yen.

Consumer confidence in the United Kingdom held firm in November led by greater optimism about the future economic situation, the results of a survey showed today.

The Nationwide Building Society announced that the consumer confidence index stood at 73 in November, unchanged from the upwardly revised reading for October. The expectations index rose to 108 from 107 and this was offset by a decline in the present situation index by 2 points to 20. The index measuring spending intentions rose to 106 from 104.

The yen that closed Tuesday's New York deals at 86.15 against the Swiss franc hit a 12-day high of 85.30 at 3:50 am ET Wednesday. The franc-yen pair is currently trading at 85.63 with 84.7 seen as the next target level.

Switzerland's unadjusted jobless rate rose to 4.2% in November from 4% recorded in October, the State Secretariat for Economic Affairs said today. That was in line with economists' expectations. At the same time, the seasonally adjusted jobless rate stood stable at 4.1%.

Across the Atlantic, the U.S. wholesale inventories report for October is due in the North American session.

News are provided by InstaForex.

[IFX Svetlana]

Pound Spikes Down Against Majors.

The British pound staged a sharp fall against its major counterparts at 2:00 am ET Thursday. The pound-dollar pair thus declined to a 2-day low of 1.6217, compared to 1.6336 hit late New York Wednesday. The next downside target level for the pair is seen around 1.621.

Meanwhile, the British currency is currently trading at 0.8885 against the euro and 1.6971 versus the franc, compared to today's early Asian session's new multi-week highs of 0.8854 and 1.7030 respectively. This may be compared to yesterday's closing values of 0.8898 against the European currency and 1.6970 versus the Swiss franc.

Against the Japanese yen, the pound is now quoted at 145.86, compared to Wednesday's closing value of 146.67.

[IFX Darika]

The Australian dollar advanced to a new multi-day highs against the currencies of Japan, US, Europe and New Zealand as a surge in local stocks encouraged investors to bet on higher-yielding currencies.

On the equity front, the Australian market ended in the positive territory today having reopened after 4 holidays, taking cues from Wall Street where the major averages ended higher in yesterday's trading session.

The benchmark S&P/ASX200 Index advanced 54.20 points, or 1.13% to close at 4,845, while the All-Ordinaries Index ended at 4,857, representing a gain of 53.40 points, or 1.11%.

During early trading on Tuesday, the Australian dollar rose to an 8-day high of 1.6133 against the euro. This may be compared with yesterday's closing value of 1.6216. On the upside, 1.608 is seen as the next target level.

The Aussie showed strength against the Japanese yen during Tuesday's early trading. At about 4:05 am ET, the Aussie-yen pair reached an 18-day high of 81.98, with 82.8 seen as the next upside target level. At Monday's New York session close, the pair was quoted at 81.30.

In early trading on Tuesday, the Australian dollar advanced to an 12-day high of 0.8952 against the US currency. The next upside target level for the aussie-greenback pair is seen at 0.901. The Aussie-dollar pair closed Monday's deals at 0.8872.

From U.S., the S&P/Case-Shiller home price index, is scheduled to be released at 9 am. Economists expect a 7.30% year-over-year decline in the 20-city composite house price index for October following a 9.36% drop in the previous month.

The Conference Board is scheduled to release its consumer confidence report for December at about 10 am ET. The report, is expected to show that the consumer confidence index rose to 53 in December.

The Australian currency edged up against the New Zealand dollar during early Asian deals on Tuesday. At 1:55 am ET, the aussie advanced to a 6-day high of 1.2566 against the kiwi, compared to 1.2537 hit late New York Wednesday. The next upside target level for the Aussie-kiwi pair is seen around 1.262. As of now, the pair is trading at 1.2558.

The Australian dollar also traded up against its Canadian counterpart during this time period and hit as high as 0.9323 by 4:10 am ET. This may be compared with yesterday's closing value of 0.9254. On the upside, 0.951 is seen as the next resistance level.

News are provided by InstaForex.

[Defariak]

whats up with all these IFX hot chicks!?
Everyone at IFX cant be a young hot chick can they?
If so, forget trading, lemme work there!

[lhar_ff]

yeah! your right man! Happy nEw year to all!!!

[Defariak]

indeed, happy new years!

[DickP]

whats up with all these IFX hot chicks!?
Everyone at IFX cant be a young hot chick can they?
If so, forget trading, lemme work there!

hands off, i saw them first

[IFX Darika]

The dollar that fell to 92.12 against the yen at 1:25 am ET Thursday rose sharply around 1:45 am ET. As of now, the dollar-yen pair is trading at a 3-day high of 92.98 with 93.2 seen as the next target level.

Meanwhile, the dollar also extended its Asian session's uptrend against the currencies of Europe, Switzerland and U.K. At present, the dollar is worth 1.4346 per euro, 1.5920 against the pound and 1.0333 against the franc.

News are provided by InstaForex.

[Defariak]

hands off, i saw them first

hey! theres enough we can share!
Sharing is caring you know!

[IFX Svetlana]

IEA Keeps 2010 Global Oil Demand Unchanged.

Friday, the International Energy Agency kept its global oil demand forecast for the current year unchanged from its previous forecast in December. The estimate for the previous year was also kept unchanged.

In its latest Oil Market Report, the Paris-based IEA said oil demand would be 86.3 mb/day in 2010, up from 84.9 mb/day estimated for 2009. The agency said growth is driven by non-OECD countries, most notably in Asia. Oil demand recovery in the OECD will likely remain sluggish, despite the recent cold weather, it added.

Moreover, the report showed that crude oil prices surged to 15-month highs in early January on very cold winter weather in much of the northern hemisphere and escalating geopolitical tensions in key oil producing countries. At their peak, prices had jumped by around $10-12/bbl from December lows. Prices have since eased, last trading in a $78-80/bbl range.

OPEC-12 crude output rose 75 kb/day to 29.1 mb/day in December, resulting in effective spare capacity of 5.4 mb/day. Further, the agency said global supply rose 270 kb/day in December to 86.2 mb/day, on both higher OPEC and non-OPEC output.


News are provided byInstaForex.
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whats up with all these IFX hot chicks!?
Everyone at IFX cant be a young hot chick can they?
If so, forget trading, lemme work there!

We were at New Year holidays. By the way, my belated congratulations!