Thread: Forex News from InstaForex

YEN LITTLE CHANGED AFTER BOJ DECISION



As expected, the Bank of Japan kept its interest rate unchanged at -0.1 percent and maintained the purchase of government bonds so that the 10-year JGB yield remained at zero percent. The bank extended the duration of additional purchases of corporate debt and the COVID-19 corporate funding support program by six months.

After the decision, the yen changed little against its major rivals.

The yen was trading at 103.41 against the greenback, 116.87 against the franc, 126.65 against the euro and 139.95 against the pound around 11:00 pm ET.

News are provided by
InstaForex.

NEW ZEALAND CREDIT CARD SPENDING DATA DUE ON MONDAY



New Zealand will on Monday release November numbers for credit card spending, highlighting a modest day for Asia-Pacific economic activity. In October, card spending was down 6.3 percent on year.

Taiwan will see November numbers for export orders, with forecasts suggesting an increase of 13.4 percent on year after rising an annual 9.1 percent in October.

China will provide December prime rate numbers for one- and five-year loans. The one year is expected to hold steady at 3.85 percent, and five-year is tipped to be unchanged at 4.65 percent.

Hong Kong will release November inflation data; in October, consumer prices were down 0.2 percent on year.

The Philippines will provide October numbers for producer prices; in September, prices were down 3.9 percent on year.

News are provided by
InstaForex.

EUROPEAN ECONOMICS PREVIEW: UK GDP DATA DUE



Quarterly national accounts and public sector finances from the UK are due on Tuesday, headlining a light day for the European economic news.

At 2.00 am ET, the Office for National Statistics publishes UK GDP and public sector net borrowing figures for November. GDP is forecast to expand 15.5 percent sequentially in the third quarter, as initially estimated.

The budget deficit is forecast to widen to GBP 27.3 billion in November from GBP 21.58 billion in October.

In the meantime, Germany's Gfk consumer confidence survey results are due. The forward-looking consumer confidence index is seen at -8.8 in January versus -6.7 in December. At 3.00 am ET, the National Institute of Economic Research is set to publish Sweden's economic tendency survey results.

Half an hour later, Statistics Sweden releases producer prices and retail sales for November.

News are provided by
InstaForex.

UK CAR PRODUCTION DECLINES IN NOVEMBER: SMMT



UK car production declined in November, data released by the Society of Motor Manufacturers and Traders, or SMMT, showed Wednesday.

Car manufacturing decreased 1.4 percent annually to 106,243 units in November.

Output for domestic markets dropped 10.4 percent, while that for exports gained marginally by 0.3 percent.

The annual decline in production masks a particularly weak November 2019 when precautionary factory shutdowns in anticipation of a potential 'no deal' Brexit on October 31, depressed output.

Year-to-date production was down -31.0 percent with 380,809 fewer cars manufactured in 2020. This puts the industry on course to produce fewer than a million cars this year for only the second time since the early eighties, the lobby noted.

Around 85 percent of cars built in November were manufactured for exports, highlighting the critical importance of free and fair trade with global markets to UK car makers.

Yet another decline for UK car production is of course concerning, but not nearly as concerning as the New Year nightmare facing the automotive industry if we do not get a Brexit deal that works for the sector, Mike Hawes, SMMT chief executive, said.

"With just nine days to go, the threat of 'no deal' is palpable and the sector, now also reeling from the latest coronavirus resurgence, Tier 4 showroom lockdowns and disruption at critical UK ports, needs more than ever the tariff-free trading arrangements on which our competitiveness is founded, Hawes added.

News are provided by
InstaForex.

JAPAN SERVICES PPI FALLS FOR SECOND MONTH



Japan's services producer prices declined for the second straight month in November, the Bank of Japan said Thursday.

The services producer price index dropped 0.6 percent annually, following a 0.5 percent decrease a month ago.

On a monthly basis, services producer price inflation eased to 0.1 percent from 0.2 percent in October.

Excluding international transportation, services producer prices were down 0.4 percent versus a 0.3 percent fall in the previous month. Month-on-month, prices gained 0.2 percent, the same rate as posted in October.

News are provided by
InstaForex.

JAPAN'S HOUSING STARTS FALL AT SLOWER PACE



Japan's housing starts continued to decline in November albeit at a slower pace, data from the Ministry of Land, Infrastructure, Transport and Tourism showed on Friday.

Housing starts were down 3.7 percent on year, following October's 8.3 percent decline. This was also better than the expected decrease of 4.9 percent.

Annualized housing starts rose to 820,000 in November from 802,000 in the previous month.

Further, data showed that construction orders received by the big 50 contractors decreased 4.7 percent on a yearly basis, bigger than the 0.1 percent fall posted in October.

News are provided by
InstaForex.

JAPAN INDUSTRIAL PRODUCTION FLAT ON MONTH IN NOVEMBER



Industrial production in Japan was unchanged on a seasonally adjusted basis in November, the Ministry of Economy, Trade and Industry said on Monday.

That missed expectations for an increase of 1.2 percent following the 4.0 percent gain in October.

On a yearly basis, industrial production sank 3.4 percent, matching forecasts following the 3.0 percent drop in the previous month.

Upon the release of the data, the METI maintained its assessment of industrial production, saying that it is picking up.

News are provided by
InstaForex.

SINGAPORE TRADE DATA DUE ON TUESDAY



Singapore will on Tuesday release November numbers for imports, exports and trade balance, highlighting a light day for Asia-Pacific economic activity.

In October, imports were down 7.6 percent on year and exports sank an annual 8.0 percent, while producer prices tumbled 9.6 percent on year.

The Philippines will see November figures for producer prices; in October, prices were down 3.3 percent on year.

News are provided by
InstaForex.

SOUTH KOREA RETAIL SALES SINK 1.0% IN NOVEMBER



The value of retail sales in South Korea was down a seasonally adjusted 1.0 percent on month in November, Statistics Korea said on Wednesday.

That follows the 0.9 percent contraction in the previous month.

On a yearly basis, retail sales skidded 1.5 percent after dropping 0.2 percent a month earlier.

News are provided by
InstaForex.

CHINA'S MANUFACTURING SECTOR GROWTH MODERATES IN DECEMBER



China's manufacturing sector growth moderated at the end of the year, survey data from the National Bureau of Statistics showed Thursday.

The official manufacturing Purchasing Managers' Index fell to 51.9 from 52.1 in November.

The score was forecast to drop marginally to 52.0. However, a reading above 50 indicates expansion in the sector.

The export order sub-index in manufacturing eased to 51.3 from 51.5 in November.

The non-manufacturing PMI that measures sentiment in the services and construction sectors declined to 55.7 in December from 56.4 a month ago.

News are provided by
InstaForex.
hhb