*New Zealand Retail Credit Card Spending -0.4% On Month In November

Trading 10 déc 2018 Commentaire »

New Zealand Retail Credit Card Spending -0.4% On Month In November

The material has been provided by InstaForex Company - www.instaforex.com

*New Zealand Overall Credit Card Spending -0.2% On Month In November

Trading 10 déc 2018 Commentaire »

New Zealand Overall Credit Card Spending -0.2% On Month In November

The material has been provided by InstaForex Company - www.instaforex.com

Australia House Price Data Due On Tuesday

Trading 10 déc 2018 Commentaire »

Australia will on Tuesday release Q3 numbers for house prices, highlighting a modest day for Asia-Pacific economic activity.

House prices are expected to sink 1.6 percent on quarter and 2.0 percent on year after easing 0.7 percent on quarter and 0.6 percent on year in the three months prior.

Australia also will see November results for the surveys for business confidence and conditions from NAB; in October, their scores were +4 and +12, respectively.

New Zealand will provide November number for credit card spending; in October, overall spending was down 0.1 percent on month and retail spending was up 0.1 percent.

Japan will release November numbers for money stocks and also see Q4 results for the indexes of manufacturing and all industries from BSI.

The M2 money stock is expected to rise 2.6 percent on year, slowing from 2.7 percent in October. M3 3 is called steady at 2.3 percent. The large manufacturing index in Q3 had a score of 6.5 and the large all industry index was at 3.8.

The Philippines will provide October data for imports, exports and trade balance. In September, imports were worth $9.75 billion and exports were at $5.83 billion.

The material has been provided by InstaForex Company - www.instaforex.com

Treasuries Close Roughly Flat Following Lackluster Session

Trading 10 déc 2018 Commentaire »

After moving sharply higher over the past few sessions, treasuries showed a lack of direction over the course of the trading day on Monday.

Bond prices spent much of the session lingering near the unchanged line. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, crept up by less than a basis point to 2.856 percent.

The choppy trading seen in the bond market throughout the session came as a lack of major U.S. economic data kept traders on the sidelines.

The economic calendar remains relatively light throughout the week, although reports on producer and consumer price inflation, retail sales, and industrial production are likely to attract attention in the coming days.

Traders may nonetheless remain reluctant to make significant moves ahead of the Federal Reserve's monetary policy meeting next week.

With the Fed widely expected to raise interest rates by another quarter point, traders will closely scrutinize the accompanying statement for clues about future rate hikes.

Trading on Tuesday may be impacted by reaction to the Labor Department's report on producer prices in the month of November.

Producer prices are expected to come in unchanged in November, while core producer prices, which exclude food and energy prices, are expected to inch up by 0.1 percent.

The material has been provided by InstaForex Company - www.instaforex.com

Oil Futures End Sharply Lower On Demand Growth Concerns

Trading 10 déc 2018 Commentaire »

Crude oil prices dropped to their lowest levels in a week amid concerns about a likely drop in crude demand due to weak global growth outlook.

Last week, after their meeting at Vienna, the OPEC and non-OPEC members agreed on a production cut of 1.2 million barrels from January 2019 to prevent a supply glut in the market and to arrest further declines in crude oil prices.

However, with the U.S.-China trade tensions escalating further following the recent arrest of Huawei Technologies Co.'s Chief Financial Officer and the latest data out of China indicating a slowdown in the world's second largest economy, crude oil prices have drifted lower again.

Crude oil futures for January delivery ended down $1.61, or 3.1%, at $51.00 a barrel on the New York Mercantile Exchange, the lowest settlement price in a week.

On Friday, crude oil futures for January ended up $1.12, or 2.2%, at $52.61 a barrel after OPEC and non-OPEC members reached an agreement to cut crude production next year.

Growth worries have increased after the latest data out of China showed far weaker than expected exports and imports for November. According to the data released on Saturday, China's exports rose 5.4% from a year earlier in November, marking the weakest performance since a 3% contraction in March. Imports were up 3% in the month, the lowest since October 2016.

Meanwhile, White House trade adviser Peter Navarro is reported to have said the Trump administration would raise tariff rates on China if the two countries fail to resolve their issues during the 90-day truce period.

The material has been provided by InstaForex Company - www.instaforex.com

Gold Settles Lower As Dollar Rebounds

Trading 10 déc 2018 Commentaire »

Gold prices edged lower on Monday as the U.S. dollar moved up against major currencies after the British Prime Minister Theresa May postponed Parliament's vote on Brexit deal with the European Union.

The dollar was struggling earlier in the day, weighed down by Friday's sell-off in equity markets amid trade and growth concerns, and on speculation the Federal Reserve will pause monetary tightening sometime soon after the latest data on U.S. jobs missed estimates.

But the greenback moved higher as the pound plunged sharply after the U.K. Prime Minister Theresa May cancelled a vote on the Brexit draft proposal, aiming to work for a better deal with Brussels. However, according to reports, the European Union executives are unlikely to change the terms of its agreement for U.K.'s exit from the bloc.

Rising concerns about U.S.-China trade tensions too aided the greenback's uptick.

The dollar index rose to 97.12, gaining about 0.66%, after having declined to a low of 95.78 earlier in the day.

Gold futures for February ended down $3.20, or 0.3%, at $1,249.40 an ounce.

On Friday, gold futures for February ended up $9.00, or 0.7%, at $1,252.60 an ounce, the highest settlement in nearly five months.

Silver futures for March settled at $14.605 an ounce, down $0.091 from Friday's close.

Copper futures for March ended at $2.720 per pound, down by about $0.030 from previous close.

The Fed is likely to raise interest rates as expected at its December 18-19 meeting, but traders are no longer certain that it will raise rates even once more next year.

The data from the Labor Department on Friday showed non-farm payroll employment rose by 155,000 jobs in November, after surging up by a downwardly revised 237,000 jobs in October. Economists had expected employment to climb by about 200,000 jobs compared to the jump of 250,000 jobs originally reported for the previous month.

Meanwhile, the report said the unemployment rate in November remained unchanged for the second straight month at 3.7%, holding at its lowest level since hitting 3.5% in December of 1969.

The material has been provided by InstaForex Company - www.instaforex.com

Dollar Surges Against Pound After Brexit Vote Postponed

Trading 10 déc 2018 Commentaire »

The dollar is gaining ground against all of its major rivals Monday afternoon. The lack of U.S. economic data is keeping some investors on the sidelines at the start of the new trading week. However, some new Brexit developments have pushed the currency sharply higher against the British pound.

The European Court of Justice ruled the British government could reverse its decision to leave the bloc without the permission of the other 27 EU members.

U.K. Prime Minister Theresa May has reportedly called off tomorrow's Parliamentary vote on Brexit deal as her plan may face defeat amid stiff opposition from Tory rebels. The decision came after the PM failed to get support from enough of Tory MPs who said they were against the deal.

The buck has broken out to nearly an 8-month high of $1.2550 against the pound sterling this afternoon, from an early low of $1.2759.

UK economic growth slowed in the three months to October, mainly due to a fall in car sales and stagnation in manufacturing, as the uncertainty surrounding the country's decision to leave the European Union, dubbed Brexit, intensified.

Gross domestic product grew 0.4 percent in the three months to October, which was slower than the 0.6 percent expansion in the September quarter, figures from the Office for National Statistics showed on Monday. The latest rate of growth was in line with economists' expectations.

Meanwhile, France's economy is set to expand at a slower rate in the fourth quarter than estimated earlier, survey data from Bank of France showed on Monday. The bank revised down its growth forecast for the fourth quarter by 0.2 percentage point to 0.2 percent.

The dollar has climbed to around $1.1350 against the Euro Monday afternoon, from an early low of $1.1442.

Eurozone's investor confidence eased sharply in December and declined for a fourth month in a row, marking the lowest level since the same month in 2014, survey data from Sentix showed on Monday.

The investor confidence index dropped to -0.3 from 8.8 in November, the behavioral research institute said. The latest reading was the lowest since December 2014. Economists had forecast a modest decline in the index to 8.3.

Germany's merchandise exports grew more-than-expected in October and at the fastest pace in five months, preliminary figures from Destatis showed on Monday.

Exports increased a calendar ad seasonally adjusted 0.7 percent from September, when they declined 0.4 percent. Economists had forecast a 0.4 percent gain for October.

Imports rose 1.3 percent monthly after stagnation in the previous month. Economists were looking for a 0.5 percent gain.

The calendar and seasonally adjusted surplus was EUR 17.3 billion in October.

The trade balance was EUR 18.3 billion in October, unchanged from September. Economists had forecast a EUR 17.1 billion surplus.

The greenback has risen to around Y113.190 against the Japanese Yen Monday afternoon, from an early low of Y112.241.

The material has been provided by InstaForex Company - www.instaforex.com

When to wait for oil growth?

Trading 10 déc 2018 Commentaire »


On Monday, the oil quotes were falling, while the maximum for Brent was previously formed with February delivery at $ 63.69 a barrel. The positive reaction of the market to the decision of OPEC + to reduce production by 1.2 million barrels per day starting next year contributed to a jump up.

Meanwhile, in December, the parties to the transaction may increase production. Before continuing to exult, investors want to wait for confirmation of the implementation of the agreement, which will happen not earlier than February after the publication of reports. This was voiced as the main argument for today's drop in oil from experts at the commodity market of UBS.

Analysts at another reputable bank Goldman Sachs believe that Brent barrel will definitely return to $ 70, but this takes time.


After the conclusion of the OPEC + meeting, there is still uncertainty, since a new reduction in production volumes has been announced without official distribution by countries. In addition, Libya, Venezuela, and Iran were exempt from participation in the transaction.

Goldman Sachs estimates that mining in Iran will continue to fall due to US sanctions. At the beginning of next year, the lack of new pipeline transmission capacity for the transfer of fuel from the Permian basin will slow down in America the growth in production volumes.

It is expected that China will again begin to import oil from the States. A seasonal increase in the water level in the Rhine should contribute to the reduction of stocks in the European ARA region (Amsterdam-Rotterdam-Antwerp), the survey says.

Recall that last week, Goldman Sachs called the purchase of oil one of the most attractive long-term investments.

In general, the decision of OPEC to reduce production took by surprise large market speculators, who were short in oil. A more large-scale reduction in the index caused a sharp increase in futures and created conditions forcing players to reduce bearish bets.

According to the Commodity Futures Trading Commission (CFTC), a week before December 4, players reduced the net long position in futures and options on Brent to 136,466 contracts (-32,046), which is a minimum of more than three years.

OPEC Deal + Received Unexpected Continuation

The Saudis have announced a decision to lower prices in Asia, which is the country's main export market. Light grades will be reduced by $ 1-2 from January, Reuters reported, citing data from Saudi Aramco oil corporations. Saudi Arabia's most popular grade of oil, Arab Light, will be cheaper for Asian customers by $ 1 compared with December.

Ultralight varieties will be even cheaper, as a result of their shipping prices will fall to a minimum since the beginning of 2017. The market expected the Saudis to reduce oil prices, but more restrained, within 70 cents.

Saudi Aramco discounts can trigger a chain reaction, forcing other OPEC middle-east earners to lower prices too. According to commodity experts, Saudi Arabia is trying to restrain the flow of American oil to its traditional market.

In the first week of December, oil exports from the United States reached a new historical record of 3.2 million barrels per day, the Energy Ministry reported.

Compared with November, the figure rose by one third, and in annual terms more than doubled. Thus, the States overtook all OPEC representatives in terms of deliveries to the world market. The only exceptions were the Saudis and Iraq.

The material has been provided by InstaForex Company - www.instaforex.com

The pound has updated lows due to the cancellation of the Brexit vote

Trading 10 déc 2018 Commentaire »


At the beginning of the week, the pound sterling was under pressure due to reports that British Prime Minister Theresa May could cancel the vote on the Brexit terms agreement to avoid defeat, which is likely to result in her government's resignation.

At 16:00 London time, the GBP / USD currency pair dropped to 1.2633, the lowest level in a year and a half, having lost about 1% of its value during today's trading.

The Bloomberg news agency reported that May may withdraw from Parliament a bill agreed with Brussels on the conditions for Britain's withdrawal from the European Union, as a defeat on the issue could lead to the government's resignation.

The European Commission speaker said today that the EU is not going to revise the agreement, adding that the European Union is ready for any scenario.

Earlier, the European Court also ruled that the UK has the right to unilaterally withdraw a statement of withdrawal from the EU.

The material has been provided by InstaForex Company - www.instaforex.com

UN: due to corruption, the world economy loses $ 2.6 trillion a year

Trading 10 déc 2018 Commentaire »


UN Secretary-General Antonio Guterres said that annually the amount of bribes worldwide is $ 1 trillion, and corruption leads to a loss of almost $ 2.6 trillion. This became known from the message of the Secretary-General on the occasion of the International Day to Combat Corruption. A. Guterres urged to direct all possible forces to the fight against bribery, deceit, and fraud.

The politician noted that today corruption is a serious problem, flourishing in many countries, both in the poor and in the rich. He also stressed that the main "enemies" of the full-fledged sustainable development of the world economy are tax evasion, money laundering, and other financial frauds.

According to the head of the UN, the annual losses from corruption amount to at least $ 2.6 trillion, or 5% of world GDP.

The material has been provided by InstaForex Company - www.instaforex.com