Thread: Forex News from InstaForex

Australia Home Loans Rise 5.5% In June



The total value of owner-occupied home loans in Australia was up a seasonally adjusted 5.5 percent on month in June, the Australian Bureau of Statistics said on Wednesday - coming in at A$12.99 billion.

That follows the 10.2 percent decline in May.

Investment lending was up 8.1 percent to A$4.44 billion after tumbling 15.6 percent in the previous month.

On a yearly basis, owner-occupied home loans were up 8.7 percent and investment lending sank 6.1 percent.

Fixed term loans rose 5.2 percent on month and fell 10.9 percent on year to A$1.51 billion.

News are provided by
InstaForex.

European Economics Preview: Bank Of England Rate Decision Due



The Bank of England is expected to keep its key interest rate and quantitative easing unchanged on Thursday. The monetary policy announcement is due at 2.00 am ET. After expanding the QE by GBP 100 billion in June, markets expect the bank to hold the programme at GBP 745 billion and the interest rate at a historic low of 0.10 percent.

In the quarterly monetary policy report, to be released with the monetary policy report, the bank is expected to forecast a slow economic recovery from the coronavirus pandemic.

At 2.00 am ET, Destatis is scheduled to release Germany's industrial orders data. Industrial orders are expected to grow 10.1 percent on month in June, slower than the 10.4 percent rise in May.

At 3.00 am ET, industrial production and foreign trade figures are due from the Czech Republic. Economists forecast production to shrink 14.3 percent on year in June, slower than the 25.7 percent decline in May.

In the meantime, industrial output data is due from Hungary. Output is seen falling 11 percent in June versus a 30.7 percent decrease in May.

Half an hour later, IHS Markit releases Germany's construction PMI data.

At 4.00 am ET, industrial output data is due from Italy. Economists forecast production to grow moderately by 5.1 percent on month after surging 42.1 percent in May.

At 4.30 am ET, UK IHS Markit/CIPS construction PMI data is due. The PMI is forecast to rise to 57.0 in July from 55.3 in June.

At 8.30 am ET, the Czech National Bank interest rate announcement is due. The bank is expected to hold its key rate at 0.25 percent.

News are provided by
InstaForex.

Japan Household Spending Slips 1.2% On Year In June



The average of household spending in Japan was down 1.2 percent on year in June, the Ministry of Internal Affairs and Communications said on Friday - coming in at 273,699 yen.

That beat forecasts for a decline of 7.5 percent following the 16.2 percent tumble in May.

The average of monthly income per household stood at 1,019,095 yen, up 15.6 percent on year.

On a monthly basis, household spending surged 13.0 percent - beating forecasts for a gain of 7.5 percent after slipping 0.1 percent in the previous month.

News are provided by
InstaForex.

China Consumer Prices Climb 2.7% On Year In July



Consumer prices in China were up 2.7 percent on year in July, the National Bureau of Statistics said on Monday.

That exceeded expectations for an increase of 2.6 percent and was up from the 2.5 percent gain in June.

On a monthly basis, inflation rose 0.6 percent - again topping forecasts for a rise of 0.4 percent following the 0.1 percent decline in the previous month.

The bureau also said the producer prices were down 2.4 percent on year versus expectations for a fall of 2.5 percent after skidding 3.0 percent a month earlier.

News are provided by
InstaForex.

European Economics Preview: UK Unemployment Data Due



Labor market statistics from the UK and economic confidence from Germany are due on Tuesday, headlining a light day for the European economic news.

At 1.00 am ET, July unemployment data is due from Sweden. The jobless rate stood at 9 percent in June.

At 2.00 am ET, the Office for National Statistics is set to issue the UK unemployment data. The jobless rate is forecast to rise to 4.2 percent in three months to June from 3.9 percent in three months to May.

At 3.00 am ET, consumer price data is due from Hungary. Inflation is forecast to rise to 3.2 percent in July from 2.9 percent in June.

At 5.00 am ET, Germany's ZEW economic confidence survey results are due. The economic sentiment index is forecast to fall to 58.0 in August from 59.3 in July.

News are provided by
InstaForex.

Australia Wage Prices Rise 1.8% On Year In Q2



Wage prices in Australia were up 1.8 percent on year in the second quarter of 2020, the Australian Bureau of Statistics said on Wednesday.

That was shy of expectations for 1.9 percent and down from 2.1 percent in the three months prior.

On a seasonally adjusted quarterly basis, wage prices rose 0.2 percent - also missing forecasts for 0.3 percent and down from 0.5 percent in the previous three months.

Private sector wages gained 0.1 percent on quarter and 1.7 percent on year, while public sector wages climbed 0.6 percent on quarter and 2.1 percent on year.

News are provided by
InstaForex.

European Economics Preview: Germany Final CPI Data Due



Final consumer prices from Germany and unemployment from France are due on Thursday, headlining a light day for the European economic news.

At 1.30 am ET, the French statistical office Insee publishes unemployment data for the second quarter. The jobless rate is seen rising to 8.3 percent from 7.8 percent in the first quarter.

At 2.00 am ET, Destatis is set to publish Germany's final consumer prices for July. According to preliminary estimate, consumer prices fell 0.1 percent on year, following a 0.9 percent rise in June.

At 3.00 am ET, Spain's INE is scheduled to issue final consumer prices for July. Economists expect the statistical office to confirm 0.6 percent annual fall in June. In the meantime, consumer price data is due from the Czech Republic. Inflation is seen easing to 3.1 percent in July from 3.3 percent in June.

At 6.00 am ET, Ireland's consumer price data is due for July. Prices had fallen 0.4 percent annually in June.

News are provided by
InstaForex.

European Economics Preview: Eurozone GDP Data Due



Flash quarterly national accounts data from euro area is due on Friday, headlining a busy day for the European economic news.

At 1.00 am ET, Statistics Finland releases consumer prices for July and economic output for June.

At 2.30 am ET, July producer prices data from Switzerland is due. Prices had decreased 3.5 percent annually in June.

At 2.45 am ET, the French statistical office Insee publishes final consumer prices for July. Inflation is expected to rise to 0.8 percent in July, as initially estimated, from 0.2 percent in June.

At 3.00 am ET, industrial production and retail sales figures are due from Turkey. Economists forecast output to rise 1.1 percent on year in June, reversing a 19.9 percent fall in May.

At 3.30 am ET, Dutch GDP data is due for the second quarter.

At 4.00 am ET, consumer prices and GDP are due from Poland. Economists forecast GDP to fall 9.6 percent sequentially in the second quarter, faster than the 0.4 percent drop in the first quarter.

At 5.00 am ET, Eurostat is set to publish euro area flash GDP estimate for the second quarter. According to preliminary estimate, the currency bloc contracted 12.1 percent.

In the meantime, euro area foreign trade data is also due. The trade surplus is forecast to rise to EUR 12.6 billion in June from EUR 9.4 billion in May.

News are provided by
InstaForex.

Thailand GDP Contracts Sharply In Q2



Thailand's economy contracted sharply in the second quarter amid the coronavirus pandemic, data from the National Economic and Social Development Council, or NESDC, showed on Monday.

Gross domestic product fell 12.2 percent on a yearly basis in the first quarter, after easing by revised 2 percent in the first quarter. Economists had forecast an annual decline of 13.3 percent.

On a quarterly basis, GDP declined 9.7 percent versus a 2.5 percent drop a quarter ago. GDP was expected to fall 11.4 percent. On the expenditure side, data showed that private final consumption expenditure declined by 6.6 percent, while government spending grew 1.4 percent.

Gross fixed capital formation decreased 8 percent. For external demands, exports and imports of goods and services decreased in the second quarter. The government lowered its full-year GDP forecast for 2020 to -7.3 percent to -7.8 percent compared to an earlier estimate of a -5 percent to -6 percent.

News are provided by
InstaForex.

RBA Minutes On Tap For Tuesday



The Reserve Bank of Australia will on Tuesday release the minutes from its monetary policy meeting on August 5, highlighting a light day for Asia-Pacific economic activity.

At the meeting, Australia's central bank left its benchmark lending rate unchanged at the record low 0.25 percent and also kept its quantitative easing unchanged. The bank vowed to maintain accommodative approach as long as it is required.
Indonesia will see Q2 results for its Business Tendency Index; in the previous three months, the index score was 104.82.

News are provided by
InstaForex.