Forex News from InstaForex

[IFX Matthias]

Options- Market Snapshot-Opening Comments

Quiet day in Asia as spot markets consolidate post FOMC moves Volumes have found support after initial post FOMC sell off to long term lows
JPY related volumes saw decent demand from lows on topside covering

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[IFX Matthias]

Taiwan's Unemployment Rate Edges Up In August

Unemployment rate in Taiwan increased marginally in August, data from the Director-General of Budget, Accounting and Statistics showed Monday.
The seasonally adjusted jobless rate rose to 4.19 percent in August from 4.18 percent in July. Economists had forecast an unemployment rate of 4.2 percent.
The unadjusted rate was 4.33 percent, up from 4.25 percent in July.
The number of unemployed persons in the country rose to 497,000 from 487,000 in the preceding month. The number of employed persons also increased slightly, to 11 million from 10.98 million in July.

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[IFX Matthias]

Singapore Dollar Slightly Off 6-day Low Against U.S. Dollar

The Singapore dollar has come off slightly from early low against the U.S. dollar in Asian deals on Tuesday.
The Singapore dollar is now worth 1.2528 against the greenback, up from early 6-day low of 1.2542. The pair ended deals at 1.2499 on Monday.

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[IFX Matthias]

Malaysian Ringgit At 6-day Low Against U.S. Dollar

The Malaysian Ringgit weakened against the U.S. dollar in Asia on Wednesday.
The ringgit that closed yesterday's deals at 3.2160 against the greenback fell to 3.2333, marking a 6-day low. On the downside, the ringgit may find support at the 3.24 level.

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[IFX Gertrude]

Asian Stocks mixed As Investors Remain Jittery; Nikkei up 0.44%

Asian stocks were mixed Thursday in another session that was short on risk appetite as skittish investors evaluated some mediocre U.S. data and mulled the future of the Federal Reserve’s quantitative easing program.

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[IFX Gertrude]

Forex - Usd/jpy falls Despite Decent Cpi Data

The U.S. dollar traded lower against the Japanese yen during Friday’s Asian session despite some encouraging signs regarding Japan’s long-standing bout with deflation

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[IFX Gertrude]

Euro Steady Ahead Of German Retail Sales

German retail sales figures for August are due at 2:00 am ET Monday. The euro showed choppy trading against other major currencies before the data.
The euro was trading at 1.3498 against the greenback, 132.12 against the yen, 0.8350 against the pound and 1.2224 against the franc at 1:55 am ET.

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[IFX Gertrude]

Abe Says Japan Will Increase Sales Tax From April 2014

Japan's Prime Minister Shinzo Abe said Tuesday that his government will hike the sales tax as planned from April next year to reduce the country's huge debt load.
The government will increase the sales tax to 8 percent from April 2014 from the current 5 percent. At the same time, Abe is expected to announce an economic stimulus package to cushion the impact that the tax hike could have on the economy.
At around 230 percent of gross domestic product, Japan's has the largest debt pile among advanced economies.

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[IFX Gertrude]

Canadian Dollar Extends Slide To 5-week Low Against Euro

The Canadian dollar extended its early slide against the euro in European deals on Wednesday.
The loonie touched 1.4010 against the euro for the first time since August 28. The loonie may possibly find support around the 1.41 area. At Tuesday's close, the pair was worth 1.3964.

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[IFX Gertrude]

China Non-Manufacturing PMI Rises In September

China's official non-manufacturing purchasing managers' index increased in September, a survey by the China Federation of Logistics and Purchasing revealed Thursday. The PMI rose to 55.4 in September from 53.9 in August. A PMI reading above 50 indicates expansion of the sector.
The new orders index rose to 53.4 in September from 50.9. New export orders also increased during the month.

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[IFX Gertrude]

BoJ Keeps Monetary Easing Plan Unchanged

The Bank of Japan on Friday retained its monetary easing plan unchanged and said the economy is recovering moderately.
At the end of a two-day meeting of the nine-member Policy Board, led by Governor Haruhiko Kuroda, the central bank said it will keep the target of the monetary base expansion at an annual pace of JPY 60-70 trillion.
The Board said that the economy is recovering moderately and the year-on-year change in the core consumer price index is now in the range of 0.5-1 percent. The BoJ expects the economy to continue moderate recovery going forward while the annual rate of change in CPI is seen rising gradually.

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[IFX Gertrude]

World Bank Cuts Developing East Asia Growth Outlook

The World Bank on Monday lowered its growth projections for developing East Asia, citing slowing growth in China and other economies in the region.
The lender now forecasts 7.1 percent growth for the region in 2013, less than 7.8 percent growth it predicted in April. Growth in 2014 is seen at 7.2 percent.
The World Bank expects the Chinese economy to expand 7.5 percent this year and 7.7 percent in 2014.

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[IFX Gertrude]

Singapore Dollar Declines To 8-day Low Against U.S. Dollar

The Singapore dollar fell against the U.S. dollar in Asian deals on Thursday.
The Singapore currency hit 1.2542 against the greenback, a level unseen since October 2. The Singapore dollar may possibly test support at the 1.26 level. At yesterday's close, the pair was worth 1.2498.

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[IFX Gertrude]

Kuroda Reiterates BoJ Committed To Fight Deflation

The Bank of Japan will do whatever necessary to overcome deflation, Governor Haruhiko Kuroda said Thursday.
Bond buying plan has been exerting its intended effects and Japan has been steadily moving toward overcoming deflation, Kuroda said at the Council on Foreign Relations in New York.
As the economy mired in deflation for the last 15 years, people's deflationary expectations became entrenched, he noted. Persistent deflation encouraged behavior to stay status quo, and this deprived Japan's economy of vitality.
Kuroda said the economy is on track and it would be premature to say anything about what additional measures the central bank could take if the economy falter.

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