Thread: Forex News from InstaForex

Kazakhstan dollar bonds attract investors





Investors snapped up the first dollar bond of Kazakhstan in over a decade with the debt the first of its kind to include provisions put in place following Argentina’s default earlier this year. Kazakhstan, a Central Asian country rich in oil fields, was able to raise $2.5 billion through the sale of 10 and 30 year dollar denominated bonds that had respective yields of 4.073% and 5.116%. The offering ended up being significantly oversubscribed with the country’s second biggest bank’s brokerage unit, Halyk Finance, saying that its order books went over $11 billion. The bonds included a binding clause that investors would follow all super majority decisions made by 75% of the holders, a section endorsed by international financial organizations after Argentina was plunged into a debt crisis due to a default. The country joins other former Soviet Union members who have tapped into international debt markets over the past year including Azerbaijan and Armenia who both did so for the first time in their history. Kazakhstan made the offering despite concerns over falling oil prices. Further declines in the energy market and lingering economic struggles in Russia could put at risk the government’s target for a 5% growth rate this year, officials admitted.


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South Korean Financial Markets closed on Thursday



South Korean financial markets are closed on Thursday for a public holiday. Markets will resume trade at normal hours on Friday, Oct. 10.

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Japan Tertiary Industry Index Eases 0.1% In August



An index measuring tertiary industry activity was down a seasonally adjusted 0.1 percent on month in August, the Ministry of Economy, Trade and Industry said on Friday - standing at 97.8. That missed forecasts for an increase of 0.1 percent following the flat reading in July. The industries that were down included scientific research, retail trade, utilities and accommodations. Industries that saw increased activity included finance, recreation, communication, health care and real estate.

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Usdmyr to Open Around 3.2600 on Higher Ndfs



USD/MYR to continue firm above 3.25, eyes break above 3.2860 1 Oct high 1 month traded 3.2665-3.2715 range overnight, closed 3.2715-3.2750 in NY Growth worries; stocks sell-off supportive of pair

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Japan M2 Money Stock +3.0% On Year In September



The M2 money stock in Japan was up 3.0 percent on year in September, the Bank of Japan said Tuesday - standing at 876.8 trillion yen. That exceeded forecasts for an increase of 2.9 percent and it marked the fourth straight month with the same reading. The M3 money stock added an annual 2.5 percent to 1,190.2 trillion yen versus forecasts for 2.4 percent, which would have been unchanged. The L money stock gained 3.2 percent on year to 1,565.1 trillion yen after gaining 3.1 percent a month earlier. http://instaforex.com/forex-news.php]

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South Korea Export Prices Ease 0.2% In September



Export prices in South Korea were down 0.2 percent on month in September, the Bank of Korea said on Wednesday, following the 0.2 gain in August. On a yearly basis, export prices fell 6.5 percent after losing 8.6 percent in the previous month. Individually, prices for exports of manufacturing products fell 0.2 percent on month and 6.6 percent on year, while prices for agricultural products tumbled 1.3 percent on month and 1.8 percent on year. Import prices lost 1.2 percent on month in September after shedding 0.8 percent in August. On a yearly basis, import prices tumbled 8.8 percent after dropping 9.9 percent a month earlier. Prices for raw materials lost 2.6 percent on month and 12.7 percent on year, while prices for capital goods dipped 0.6 percent on month and 6.7 percent on year.

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New Zealand Manufacturing Index Rises To 58.1



New Zealand's manufacturing sector expanded at an accelerated pace in September, the latest Performance of Manufacturing Index from Business NZ revealed on Thursday with a score of 58.1. That's up from the upwardly revised 57.0 in August (originally 56.5), and it moves further above the boom-or-bust line of 50 that separates expansion in a sector from contraction. In all, the index has risen in four straight months. "This pick-up has been relatively well spread across industry type, firm size and the standard breakdowns of production, orders, employment, stocks and deliveries," BNZ economist Craig Ebert said.

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Aud/usd Back Above 0.8760 After dragged Lower to 0.8734 on Kiwi Sell-Off



Kiwi sell-off false alarm but comeback far from impressive
That said antipodean recovery looks underway - NZD/USD target +80 cents
AUD down against the field on Thursday - could play catch-up today
As highlighted by today's NZD/USD move - markets are very thin and illiquid

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UK House Prices Rise 2.6% In October - Rightmove



The average asking price of a house in the United Kingdom was up 2.6 percent on month in October, property tracking website Rightmove said on Monday, to 271,669 pounds. That follows the 0.9 percent increase in September. On a yearly basis, house prices spiked 7.6 percent - slowing from the 7.9 percent jump in the previous month. By region, house prices jumped 10 percent in the south-east and 9.6 percent in London.

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Aud/usd traded to 0.8798 from 0.8787 After Release of Rba Minutes



Minutes held no surprises so impact unlikely to last
Market will look ahead to key China data at 02:00 GMT for directional clues
Support for AUD/USD at 0.8735/45 with resistance between 0.8810/60

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