U.S. Wholesale Inventories Rise Slightly Less Than Expected In April

Trading 09 juin 2020 Commentaire »

Wholesale inventories in the U.S. increased by slightly less than expected in the month of April, according to a report released by the Commerce Department on Tuesday.

The Commerce Department said wholesale inventories rose by 0.3 percent in April after tumbling by a revised 1.1 percent in March.

Economists had expected wholesale inventories to rise by 0.4 percent compared to the 0.8 percent slump originally reported for the previous month.

The rebound in wholesale inventories came as inventories of non-durable goods surged up by 1.1 percent in April after plunging by 3.4 percent in March.

Meanwhile, the report said inventories of durable goods fell by 0.3 percent in April after rising by 0.4 percent in the previous month.

The Commerce Department also said wholesale sales plunged by 16.9 percent in April after tumbling by 5.1 percent in March.

Sales of durable goods and non-durable goods both showed substantial decreases, plummeting by 17.3 percent and 16.5 percent, respectively.

With inventories rising and sales falling sharply, the inventories/sales ratio for merchant wholesalers spiked to 1.65 in April from 1.36 in March.


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*U.S. Wholesale Inventories Rise 0.3% In April

Trading 09 juin 2020 Commentaire »

U.S. Wholesale Inventories Rise 0.3% In April


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

French Trade Deficit Widens To 3-Month High

Trading 09 juin 2020 Commentaire »

The French trade deficit widened to a three-month high in April due to a sharp decline in exports, the French customs office said on Tuesday.

The trade deficit increased to EUR 5.02 billion from EUR 3.22 billion in March. This was the biggest shortfall since January. In the same period last year, the deficit totaled EUR 5.3 billion.

Data showed that exports plunged 32.4 percent on a monthly basis, and imports declined 25 percent.

Year-on-year, exports and imports were down 21.2 percent and 20.5 percent, respectively.

Another report from the Bank of France showed that the current account deficit increased notably in April driven by the deficit on visible trade.

The current account deficit came in at EUR 5.4 billion in April versus a shortfall of EUR 2.8 billion in the previous month.

This deterioration was the result of a very sharp contraction in trade in goods and services, affecting exports more strongly than imports, the central bank said.

The energy deficit narrowed by EUR 1.2 billion, but the deficit in non-energy goods widened by EUR 2.1 billion, resulting in a deficit for goods of EUR 4.0 billion. While usually in surplus, services logged a deficit of EUR 0.5 billion. This deficit was mainly due to a zero balance in travel and a poor performance in consulting and R&D services, which recorded a deficit of EUR 1 billion, data showed.


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EURUSD remains inside bullish channel.

Trading 09 juin 2020 Commentaire »

EURUSD pulled back as low as 1.1240. In our last analysis we expected price to pull back towards the lower channel boundary and our first target was 1.12. However price took more time moving sideways and thus the lower channel boundary moved higher.

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Blue lines - bullish channel

Red line -major long-term resistance

EURUSD pulled back from Friday as expected on Monday and early Tuesday. Price reached the lower channel boundary as expected and is now bouncing to new higher highs. Trend remains bullish as long as price is inside the channel. The RSI could provide an early warning soon if price makes a higher high and the RSI not. Too early to tell. Key support now at 1.1240. Bulls do not want to see this level broken. Breaking below 1.1240 will open the way for a pull back towards 1.1150.

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

S&P Lowers Japan’s Rating Outlook To Stable

Trading 09 juin 2020 Commentaire »

S&P Global Ratings revised its outlook on Japan to stable from positive citing increased uncertainty around debt stabilization.

The agency on Tuesday affirmed the sovereign ratings at 'A+'.

S&P said the revision reflects increased uncertainty that Japan's general government debt could stabilize against nominal GDP in the next one to two years as fiscal performance deteriorates.

Although the coronavirus, or Covid-19, outbreak has set back Japan's fiscal stabilization process, S&P expects that to get back on track in the next two to three years as the economy recovers.

The agency estimates the net government debt level to rise substantially this fiscal year ending March 2021 to 171 percent of GDP, from 151 percent in fiscal 2019.

However, in 2021-2023, fiscal deficits are expected to fall sharply from the level in fiscal 2020 as one-off spending related to the Covid-19 pandemic expires.


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Gold price bounces towards key short-term resistance

Trading 09 juin 2020 Commentaire »

Gold price has bounced off the Daily cloud support and has reached the $1,715-20 area as expected. By the Ichimoku cloud indicators this area is important resistance and could be decisive for the move in Gold price over the next few weeks.

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Gold price is above the Cloud. This is a bullish sign, Gold price has crossed the tenkan-sen (red line indicator) and is challenging the kijun-sen (yellow line indicator). The Chikou span is above the candlestick formation and this is a bullish sign. The chart so far shows signs in favor of bulls. However bulls need to show more signs of strength. If the tenkan-sen (red line indicator) crosses above the kijun-sen (yellow line indicator) then we will have a strong buy signal. This would be good news for bulls. Recapturing $1,720 area and holding above it would do it. A rejection would be a bearish sign. Support remains key by the cloud at $1,670. Breaking below it could push price towards $1,600.The material has been provided by InstaForex Company - www.instaforex.com

*Mexico May CPI Up 0.38% On Month, Consensus 0.52%

Trading 09 juin 2020 Commentaire »

Mexico May CPI Up 0.38% On Month, Consensus 0.52%


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Portugal Trade Deficit Narrows In April

Trading 09 juin 2020 Commentaire »

Portugal's foreign trade narrowed in April, amid declines in both exports and imports, figures from Statistics Portugal showed on Tuesday.

The trade deficit fell to EUR 1.13 billion in April from EUR 1.8 billion in the same month last year. In March, the deficit was EUR 1.59 billion.

Exports fell 39.8 percent year-on-year in April, following a 12.7 percent decline in March.

Imports declined 39.1 percent annually in April, following an 11.6 percent fall in the previous month.

On a month-on-month basis, exports decreased 33.6 percent and imports fell 32.4 percent.

Reflecting the constraints on the economic activity determined by the measures to control the spread of the COVID-19 pandemic, almost all product categories showed significant decreases, with exports and imports of transport equipment declining the most, the agency said.


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*Mexico May Inflation 2.84% Vs. 2.15% In Apr, Consensus 2.97%

Trading 09 juin 2020 Commentaire »

Mexico May Inflation 2.84% Vs. 2.15% In Apr, Consensus 2.97%


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

Latvia Trade Deficit Narrows In April

Trading 09 juin 2020 Commentaire »

Latvia's trade deficit decreased in April as the fall in imports exceeded the decline in exports, data from the Central Statistical Bureau showed on Tuesday.

The trade deficit dropped to EUR 64.7 million in April from EUR 289.9 million in the same month last year. In March, trade deficit totaled EUR 220.2 million.

Exports declined 13.9 percent annually in April and imports plunged 27.4 percent.

In April, the major export partners were Lithuania, Estonia, Russia, Sweden and Germany and those for import were Lithuania, Germany, Poland and Estonia.


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