Thread: Forex News from InstaForex

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EUROPEAN ECONOMIC NEWS PREVIEW: FRANCE INDUSTRIAL OUTPUT DATA DUE



Industrial production from France is the only major economic data due on Wednesday, headlining a light day for the European economic news.

At 1.00 am ET, Statistics Finland releases industrial production figures for November. Output had increased 1.2 percent annually in October. At 2.00 am ET, consumer price data is due from Norway and Denmark. Norway's consumer price inflation is forecast to remain unchanged at 4.8 percent in December. Also, Statistics Sweden publishes GDP, industrial output and orders and household spending data for November.

In the meantime, the Turkish Statistical Institute is scheduled to issue industrial output and unemployment data.

At 2.45 am ET, France's statistical office INSEE releases industrial production figures for November. Output is forecast to remain flat on month, reversing a 0.3 percent drop in October.

At 4.00 am ET, retail sales data is due from Italy.

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AUSTRALIAN DOLLAR RISES AGAINST MAJORS



The Australian dollar strengthened against other major currencies in the Asian session on Thursday.

The Australian dollar rose to more than a 5-week high of 97.80 against the yen, from yesterday's closing value of 97.63.

Against the U.S. and the Canadian dollars, the aussie advanced to 2-day highs of 0.6726 and 0.8985 from yesterday's closing quotes of 0.6698 and 0.8961, respectively.

The aussie edged up to 1.6328 against the euro, from Wednesday's closing value of 1.6372.

If the aussie extends its uptrend, it is likely to find resistance around 98.00 against the yen, 0.68 against the greenback, 0.90 against the loonie and 1.61 against the euro.

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CHINA OVERALL INFLATION RISES 0.1% ON MONTH IN DECEMBER



Overall consumer prices in China were up 0.1 percent on month in December, the National Bureau of Statistics said on Friday.

That was shy of expectations for an increase of 0.2 percent following the 0.5 percent contraction in November.

On an annual basis, inflation fell 0.3 percent versus forecasts for a decline of 0.4 percent after slipping 0.5 percent in the previous month.

The bureau also said that producer prices sank 2.7 percent on year, missing forecasts for a decline of 2.6 percent after sinking 3.0 percent a month earlier.

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EUROPEAN ECONOMIC NEWS PREVIEW: GERMANY GDP DATA DUE



The annual GDP data from Germany and industrial production from the euro area are the top economic news due on Monday.

At 2.00 am ET, Destatis is scheduled to issue Germany's wholesale prices for December. Wholesale prices are forecast to rise 0.2 percent on a monthly basis, offsetting a 0.2 percent drop in November.

At 4.00 am ET, Germany's annual GDP data is due. The economy is forecast to shrink 0.3 percent in 2023, in contrast to the 1.9 percent expansion in 2022.

In the meantime, foreign trade figures are due from Italy. The trade surplus is forecast to rise to EUR 5.2 billion in November from EUR 4.7 billion in October.

At 5.00 am ET, Eurostat publishes euro area industrial production for November. Economists expect industrial output to drop 0.3 percent on month, following a 0.7 percent decrease in October.

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NZ DOLLAR DROPS AGAINST MOST MAJORS



The New Zealand dollar weakened against most major currencies in the Asian session on Tuesday.

The NZ dollar fell to a 1-week low of 89.89 against the yen, from yesterday's closing value of 90.34.

Against the euro and the U.S. dollar, the aussie dropped to near 5-week lows of 1.7721 and 0.6160 from Monday's closing quotes of 1.7655 and 0.6199, respectively.

If the kiwi extends its downtrend, it is likely to find support around 88.00 against the yen, 1.79 against the euro and 0.60 against the greenback.

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CHINA GDP GAINS 5.2% ON YEAR IN Q4



China's gross domestic product expanded 5.2 percent on year in the fourth quarter of 2023, the National Bureau of Statistics said on Wednesday - shy of expectations for 5.3 percent but up from 4.9 percent in the third quarter.

On a seasonally adjusted quarterly basis, GDP rose 1.0 percent - in line with expectations and slowing from 1.3 percent in the three months prior.

Also, the NBS said that industrial production climbed 6.8 percent on year, beating forecasts for 6.6 percent - which would have been unchanged from the November reading.

Retail sales grew an annual 7.4 percent, missing forecasts for 8.0 percent and down from 10.1 percent in the previous month.

Fixed Asset Investment was up 3.0 percent on year, beating forecasts for 2.9 percent, which would have been unchanged.

The jobless rate in China was 5.1 percent in December versus forecasts for a steady reading of 5.0 percent.

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NZ DOLLAR RISES AGAINST MAJORS



The New Zealand dollar strengthened against other major currencies in the Asian session on Thursday.

The NZ dollar rose to a 6-day high of 90.81 against the yen and a 3-day high of 1.0692 against the Australian dollar, from yesterday's closing quotes of 90.61 and 1.0703, respectively.

Against the U.S. dollar and the euro, the kiwi edged up to 0.6137 and 1.7765 from Wednesday's closing quotes of 0.6116 and 1.7779, respectively.

If the kiwi extends its uptrend, it is likely to find resistance around 91.00 against the yen, 1.05 against the aussie, 0.63 against the greenback and 1.74 against the euro.

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YEN FALLS AGAINST MAJORS



The Japanese yen weakened against other major currencies in the Asian session on Friday.

The yen fell to more than a 1-1/2-month low of 161.62 against the euro and nearly a 2-month low of 188.62 against the pound, from yesterday's closing quotes of 161.10 and 188.22, respectively.

Against the U.S. and the Canadian dollars, the yen dropped to a 2-day low of 148.48 and more than a 2-month low of 110.06 from Thursday's closing quotes of 148.15 and 109.84, respectively.

The yen edged down to 171.00 against the Swiss franc, from yesterday's closing value of 170.64.

If the yen extends its downtrend, it is likely to find support around 164.00 against the euro, 190.00 against the pound, 151.00 against the greenback, 112.00 against the loonie and 173.00 against the franc.

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