Thread: Forex News from InstaForex

New Zealand Building Value Gains 1.0% In Q2



The value of all building in New Zealand added a seasonally adjusted 1.0 percent on quarter in the second quarter of 2014, Statistics New Zealand said on Wednesday. The unadjusted value of all building activity in Q2 was NZ$3.8 billion, including NZ$2.3 billion residential building work, and NZ$1.4 billion non-residential building work. The headline figure beat expectations for a flat reading on quarter following the downwardly revised 15.0 percent surge in the first quarter (originally 16.0 percent). Non-residential building activity volume climbed a seasonally adjusted 2.5 percent, while residential building activity was unchanged from last quarter. "The trend for all building activity has been generally rising for nearly three years, and is just 0.7 percent lower than the series high in the June 2005 quarter," said business indicators manager Neil Kelly. On a yearly basis, building activity grew most in Auckland and Canterbury regions this quarter. The non-residential buildings volume trend is now 19 percent higher than the most recent low point in the September 2013 quarter, the bureau said, and is just 1.3 percent lower than the series high eight years ago in the March 2006 quarter. Growth continues in the residential building volume trend; however, it is still 7.0 percent lower than the series high in the June 2004 quarter. The all buildings volume trend has been generally rising for 11 quarters, and is now just 0.7 percent lower than the series high in the June 2005 quarter.


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South Korea GDP Expands 3.5% In Q2



South Korea's gross domestic product expanded 3.5 percent on year in the second quarter of 2014, the Bank of Korea said in Thursday's preliminary reading. That was a slight downward revision from July's advance estimate which suggested an increase of 3.6 percent. It also slowed from the 3.9 percent gain in the first quarter. On a seasonally adjusted annualized quarterly basis, GDP expanded 0.5 percent - also a downward revision from the 0.6 percent increase originally reported. GDP was up 0.9 percent on quarter in Q1.

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Construction Sector Expands Again In August - AiG



The construction sector in Australia expanded at an accelerated pace in August, the latest survey from the Australia Industry Group revealed on Friday with a performance of construction index score of 55.0. That touches a nine-month high for the index, which came in at 52.6 in July. A reading above 50 signals expansion in a sector, while a score below means contraction. Among the individual components of the survey, apartment building, house building and commercial construction all continued to expand, while engineering construction remained in contraction.

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New Zealand Q2 Manufacturing Activity Slows



The total volume of sales for manufacturing activity dropped a seasonally adjusted 0.7 percent in the second quarter of 2014 compared to9 the previous three months, Statistics New Zealand said on Monday - following the 0.5 percent gain in Q1. Excluding meat and dairy product manufacturing, sales were up 0.1 percent on quarter. Meat and dairy product manufacturing fell 1.4 percent. "Meat and dairy manufacturing sales have edged down in the last two quarters following a large rise in the December 2013 quarter," business indicators manager Neil Kelly said. Among the other components of the data, sales for chemical, polymer, and rubber product manufacturing fell 3.0 percent, while sales for petroleum and coal product manufacturing advanced 2.4 percent. By value, total manufacturing tumbled 1.9 percent on quarter, or NZ$481 million. Excluding meat and dairy product manufacturing, sales eased 0.2 percent. Meat and dairy product manufacturing dropped 5.7 percent, or NZ$485 million. The trend for the total manufacturing sales volume, which gives a longer-term picture of movements, has flattened after recent rises, the bureau said.

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New Zealand August Retail Credit Card Spending +0.5%



Retail credit card spending in New Zealand added a seasonally adjusted 0.5 percent on month in August, Statistics New Zealand said on Tuesday. That missed forecasts for an increase of 0.6 percent following the upwardly revised 0.1 percent gain in July (originally flat). Total credit card spending was up 0.3 percent on month following the 0.2 percent decline in the previous month.

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Japan Corporate Goods Prices Ease 0.2%



An index measuring domestic corporate goods prices in Japan was down a seasonally adjusted 0.2 percent on month in August, the Bank of Japan said on Wednesday. That missed forecasts for a flat reading following the upwardly revised 0.4 percent increase in July (originally 0.3 percent). On a yearly basis, corporate goods prices were up 3.9 percent - also shy of expectations for a gain of 4.1 percent following the 4.3 percent increase in the previous month.

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UK House Price Balance Tumbles In August - RICS



The house price balance in the United Kingdom fell all the way to 40 percent in August, the Royal Institution of Chartered Surveyors said on Thursday. That was well shy of forecasts for 47 percent and down sharply from the downwardly revised 48 percent in July (originally 49 percent). In the London area, house prices were higher for a balance of nine percent of agents - slowing from 11 percent in the previous month. "Some of the momentum has come out of the housing market of late reflecting in part concerns over a likely rise in the cost of borrowing at some point in the not too distant future," said Simon Rubinsohn, RICS chief economist.


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Nzdusd plumbed Lowest Level Since 4 Feb Circa 0.8161 As Early Europe reacted to Rbnz



NY buyers out of the blocks, 0.8210 reclaimed buoyed by gains vs AUD & CAD Best of commodity currency bloc as focus now on AUD and CAD unwind Price action leaves Wed's cross low circa 1.1084 exposed, AUD/NZD last at 1.1110 News BNZ/Bis NZ Mfg PMI in August at 56.5 from 53.5 prior proffered modest Rate sits 0.8192/94, direct NZD sidelined, cross currents dominate for now

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New Zealand Services Sector Continues To Expand In August



The services sector in New Zealand continued to expand in August, albeit at a slightly lower pace, the latest survey from Business NZ revealed on Monday with a performance of services index score of 59.7. That's down from 58.4 in July, although it remains well above the line of 50 that separates expansion from contraction. Among the individual components of the survey, all five elements were in expansion, including employment, stocks and inventories, and new orders. By region, growth was strongest in the Northern region, Central, Canterbury and Otago.

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Calpers Scraps Hedge Fund Strategy, Pulls Usd4 Bln from Funds



USD300 bln pension fund aims to reduce "complexity and costs" Will exit 24 hedge funds & 6 hedge fund-of-funds over next year Has signaled for months it would cut hedge fund allocation Small amount but could spur other pension funds to review strategy

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