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China Leading Index Slows In April - Conference Board





China's leading economic index, measuring the future economic conditions, continued to rise in April though at a slower rate, a report from the Conference Board showed Friday. The leading index, at 288.1, was up 0.9 percent month-over-month in April following a 1.1 percent increase in March. The coincident index that measures the current economic situation rose 0.4 percent in April after rising 1.3 percent in March. The slower rate of increase of the leading index was driven by a decrease in total industrial activity and retail sales, said the report. "Its overall expansion remains weaker than the latter half of 2013 and underlying volatility in the economy has increased. Subdued LEI growth, combined with growth rates in industrial activity and retail sales running at their lowest since 2004, suggest that the slower trend of economic growth will continue into the third quarter at least," said Andrew Polk, Conference Board economist.

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Malaysian Ringgit Rises To 4-day High Against U.S. Dollar




The Malaysian ringgit strengthened against the U.S. dollar in the Asian session on Monday. Against the greenback, the ringgit rose to a 4-day high of 3.2069, from last week's closing quote of 3.2120. If the ringgit extends it rise, it is likely to find resistance around the 3.19 area.

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Indian Rupee Falls To 11-day Low Against U.S. Dollar



The Indian rupee weakened against the U.S. dollar in the morning deals on Tuesday. Against the greenback, the rupee fell to an 11-day low of 58.9705, from yesterday's closing quote of 58.7350. If the rupee extends its slide, it is likely to find support around the 59.57 zone. The rupee is seeing a pullback after its recent rally, triggered by the election of Narendra Modi as India's 15th Prime Minister. Modi was sworn in as the country's executive head yesterday and the swearing in ceremony was attended by heads of neighboring countries, industrialist and celebrities among others.


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Indian Rupee Slips To Nearly 2-week Low Against U.S. Dollar




The Indian rupee dropped against the U.S. dollar in the morning deals on Wednesday. Against the greenback, the rupee fell to nearly a 2-week low of 59.2100, down from yesterday's closing quote of 58.9800. If the rupee extends its downtrend, it is likely to find support around the 59.70 area.

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Philippine Q1 GDP Growth Slows; Trails Expectations




The Philippine economy grew at a slower-than-expected rate in the first quarter of 2014, figures from the National Statistical Coordination Board showed Thursday.
Gross domestic product for the first quarter rose 5.7 percent year-over-year, trailing expectations of a 6.4 percent increase. This follows the revised 6.3 percent rise in the previous quarter.
The industry sector, one of the three major sectors contributing to the GDP, grew at a year-over-year rate of 5.5 percent in the first quarter, lower by 11.3 percent compared to the same quarter of the previous year and 7.6 percent compared to the previous quarter.
The services sector contributed 3.8 percentage points to the GDP growth, followed by the industry sector and the agriculture sector contributing 1.8 and 0.1 percentage points, respectively.
The gross national income grew by 7.6 percent owing to an increase of 17.3 percent in the net primary income from the rest of the world.

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UK Consumer Confidence Hits Nine-Year High



An index measuring consumer sentiment in the United Kingdom came in with a score of 0 in May, polling company GfK said on Friday.
That beat forecasts for a score of -2 and was up from -3 in April. The May reading represents a nine-year high score for the index.
Also on Friday, property tracking website Hometrack said that house prices in the UK were up 0.5 percent on month and 6.1 percent on year.
That follows the 0.6 percent monthly increase and the 6.0 percent yearly gain in April.

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Singapore Dollar Off Multi-week Low Against U.S. Dollar The Singapore dollar trimmed its early losses against the U.S. dollar in Asian deals on Tuesday. The Singapore dollar that fell to a multi-week low of 1.2571 against the greenback in early deals reversed direction with pair trading around 1.2556. The pair was worth 1.2569 at yesterday's close. News are provided by InstaForex

Malaysian Ringgit Falls To Near 3-week Low Against U.S. Dollar



The Malaysian Ringgit lost ground against the U.S. dollar in Asian deals on Wednesday. The ringgit fell to 3.2370 against the greenback, its weakest since May 14. On the downside, the ringgit may find support around the 3.24 zone. At yesterday's close, the pair was quoted at 3.2305.

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Philippines Producer Prices Rise For Second Month



Philippine producer prices increased for the second straight month in April, led by the higher uptick of petroleum products, figures from the National Statistical Office showed Thursday. The producer price index rose 0.1 percent year-on-year in April, slower than March's revised 0.3 percent increase. In February , prices fell 0.6 percent. Prices of petroleum products jumped 13.6 percent annually in April. Cost of food manufacturing and electrical machinery also grew by 4.5 percent and 4.0 percent, respectively. At the same time, prices of furniture and fixtures logged a sharp decline of 27.9 percent. On a monthly basis, producer prices dropped 0.5 percent in April, in contrast to the 0.2 percent growth in the previous month.

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New Zealand House Prices Continue To Rise In May



House prices in New Zealand continued to rise for the second consecutive month in May while sales volume declined, figures from Quotable Value, QV, showed Friday. The QV Residential Price Movement Index rose 8.2 percent year-over-year in May. The index stood 13.9 percent higher than the previous market peak of 2007. After adjusting for inflation, house prices fell 6.6 percent year-over-year and remained 2.2 percent below the 2007 peak. "Sales volumes around the country are 10 to 15 percent lower than they were this time last year which could be a normal winter seasonal effect but it could also be a precursor to values dropping," said QV National Spokesperson Andrea Rush. "The LVR lending restrictions continue to have an effect in many of the regions with activity significantly slower at the entry level end of the market."


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