Forex News from InstaForex

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  1. #271
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    Forex News from InstaForex
    China Manufacturing PMI Falls Into Contraction



    The manufacturing sector in China turned to contraction in May, the National Bureau of Statistics said on Friday with a manufacturing PMI score of 49.4.

    That was shy of expectations for 49.9 and down from 50.1 in April. It also fell below the boom-or-bust line of 50 that separates expansion from contraction.

    The non-manufacturing PMI came in at 54.3 - unchanged from the previous month and in line with expectations.

    The composite index had a score of 53.3, down fractionally from 53.4 a month earlier.

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  2. #272
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    Myanmar Manufacturing Sector Accelerates In May - Nikkei



    The manufacturing sector in Myanmar continued to contract in May, and at a faster rate, the latest survey from Nikkei revealed on Monday with a manufacturing PMI score of 54.2.

    That's up from 53.7 in April, and it moves farther above the boom-or-bust line of 50 that separates expansion from contraction.

    Individually, operating conditions improved at a solid rate, while there was faster growth in output and new orders. Employment expansion was the quickest in series history.

    At the same time, input costs increased further in May, with the rate of inflation picking up to a six-month high

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    South Korea Inflation Rises 0.2% In May



    Consumer prices in South Korea were up 0.2 percent on month in May, Statistics Korea said on Tuesday - following the 0.2 percent decline in April.

    On a yearly basis, inflation advanced 0.7 percent - accelerating from 0.4 percent in the previous month.

    Core CPI - which excludes volatile food prices - sank 0.2 percent on month and added0.6 percent on year.

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  4. #274
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    New Zealand Q1 Volume Of Building Soars 6.2%



    The overall volume of building in New Zealand climbed a seasonally adjusted 6.2 percent on quarter in the first three months of 2019, Statistics New Zealand said on Friday.

    That beat forecasts for an increase of 1.1 percent and was up sharply from the upwardly revised 3.4 percent gain in the three months prior (originally 2.7 percent).

    Non-residential building volume rose a seasonally adjusted 9.0 percent, the bureau said, while residential building volume rose a seasonally adjusted 4.3 percent.

    The actual value of total building work was NZ$6.1 billion in the March 2019 quarter - up 16 percent from the March 2018 quarter.

    By region, the actual value of total building work in the March 2019 quarter (compared with the March 2018 quarter) was: NZ$2.5 billion in Auckland - up 26 percent; NZ$595 million in Waikato - up 30 percent; NZ$474 million in Wellington - up 1.5 percent; NZ$950 million in rest of North Island - up 13 percent; NZ$931 million in Canterbury - down 1.0 percent; and NZ$618 million in rest of South Island - up 12 percent. In the year ended March 2019, the national value of residential building work rose NZ$1.1 billion (7.9 percent) when compared with the previous March year - driven by an NZ$861 million (16 percent) increase in Auckland.

    In the year ended March 2019, the national value of non-residential building work rose NZ$923 million (12 percent) when compared with the previous year - driven by a NZ$672 million (25 percent) increase in Auckland.

    The non-residential building types with most growth in the year ended March 2019 (compared with the March 2018 year) were: shops, restaurants, and bars (shops) - up NZ$337 million (41 percent) nationally; hotels, motels, boarding houses, and prisons (accommodation) - up NZ$248 million (40 percent) nationally; and storage buildings - up NZ$199 million (26 percent) nationally.


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    Ireland Construction Activity Growth Slows In May



    Ireland's construction activity growth eased to the lowest in four months in May, survey data from IHS Markit showed on Monday.

    The Ulster Bank Construction Purchasing Managers' Index, or PMI, fell to 54.9 in May from 56.6 in April. Any reading above 50 indicates expansion in the sector.

    The housing sub-category rose at the fastest pace in three monitored sub-sectors for the fifth straight month in May. The corresponding PMI slid slightly to 58.3 from 60.5 a month ago.

    Commercial activity increased at the slowest pace since August 2013. The commercial activity index came in 53.1 versus 54.6 in the previous month.

    Civil engineering activity fell for the ninth month in a row. The civil engineering activity PMI dropped to 46.3 from 46.4 in April.

    "New business and employment levels continued to rise at healthy rates in May, albeit in line with overall trends, both indices eased last month," Simon Barry, chief economist Republic of Ireland at Ulster Bank, said.

    "Survey respondents remain optimistic about the sector's prospects over the year ahead, with expectations of stronger customer demand cited as an important source of support."

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    European Economics Preview: UK Labor Market Data Due



    Unemployment from the UK and investor confidence from euro area are due on Tuesday, headlining a light day for the European economic news.

    At 2.00 am ET, Statistics Norway publishes consumer price data. Economists forecast inflation to remain unchanged at 2.9 percent in May.

    At 2.30 am ET, Bank of France business sentiment survey data is due. The business confidence index is forecast to rise slightly to 100 in May from 99 in April.

    Half an hour later, the Czech inflation data is due. Inflation is expected to slow slightly to 2.7 percent in May from 2.8 percent in April.

    At 4.30 am ET, the Office for National Statistics releases UK unemployment data. The ILO jobless rate is seen unchanged at 3.8 percent in three months to April.

    In the meantime, Eurozone Sentix investor confidence data is due. Economists forecast the investor sentiment index to drop to 2.5 in June from 5.3 in May.

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    Australia Jobless Rate Steady At 5.2% In May



    The unemployment rate in Australia came in at a seasonally adjusted 5.2 percent in May, the Australian Bureau of Statistics said on Thursday - unchanged from the April reading but missing forecasts for 5.1 percent.

    The Australian economy added 42,300 jobs last month - blowing past expectations for an increase of 16,000 following the increase of 28,400 in the previous month.

    The participation rate was 66.0 percent, surpassing forecasts for 65.8 percent and up from the upwardly 65.9 percent a month earlier (originally 65.8 percent).

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    New Zealand Manufacturing Growth Near Stagnation



    New Zealand manufacturing sector was close to stagnation in May, the latest BNZ survey showed Friday.

    The BNZ-BusinessNZ Performance of Manufacturing Index fell 2.5 points to 50.2 in May. This was the lowest score since December 2012.

    The production sub-index declined to 46.4 in May from 50.1 a month ago. This was the lowest since April 2012. A score below 50 indicates contraction in the sector.

    As a growth risk indicator it may not be flashing bright red just yet, but it is moving in that direction in taking on a darker shade of amber, Doug Steel, a senior economist at BNZ Research said.

    The PMI sends a warning signal for near term growth via its mix of falling production, near flat new orders, and rising inventory, Steel added. Next week's first quarter GDP should be reasonable, but beyond this downside risks are accumulating.

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    BCC Trims UK Growth Outlook



    The British Chambers of Commerce downgraded its growth outlook for next year as unwinding of historically-high inventory levels amid weak business investment weigh on economic activity.

    In the latest economic forecast, released Monday, the growth projection for 2020 was lowered to 1 percent from 1.3 percent and that for 2021 to 1.2 percent from 1.4 percent.

    However, the growth outlook for 2019 was lifted marginally to 1.3 percent from 1.2 percent, citing the exceptionally rapid stock-building ahead of the original Brexit deadline in March.

    Gross domestic product was forecast to remain flat in the second quarter of 2019 after expanding 0.5 percent in the first quarter.

    Over the near-term, the lobby expect that the ongoing Brexit impasse, together with the high upfront cost of doing business in the UK and the running down of excess stock to suffocate investment activity.

    Business investment was expected to decline 1.3 percent this year versus prior forecast of 1 percent drop. Further, the lobby projected 0.4 percent growth next year, before improving to 1.1 percent in 2021.

    Further, trade was set to make a negative contribution as exchange rate volatility, Brexit uncertainty and a subdued global economy, weaken trading conditions for British exporters.

    Export growth was seen at 1.6 percent this year and next and 1.7 percent in 2021, compared to import growth of 4.3 percent in 2019, 1.8 percent in 2020 and 2.2 percent in 2021.

    Nonetheless, consumer spending was forecast to remain resilient on low unemployment and earnings growth to stay above inflation. Household consumption growth outlook was lifted to 1.4 percent for 2019 and to 1.4 percent in 2020.

    The forecast was based on the assumption that the UK avoids a messy and disorderly Brexit.

    "Businesses are putting resources into contingency plans, such as stockpiling, rather than investing in ventures that would positively contribute to long-term economic growth," Adam Marshall, Director General of the BCC, said. "This is simply not sustainable."

    Business communities expect the next Prime Minister to quickly find a sensible and pragmatic way forward to avoid a messy and disorderly Brexit, Marshall added.

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    New Zealand Consumer Confidence Drops In Q



    New Zealand's consumer sentiment weakened slightly in the second quarter as households remained downbeat about the economic backdrop, survey data from Westpac showed Tuesday.

    The Westpac McDermott Miller consumer confidence index dropped 0.3 points to 103.5 in June.

    Among sub-components, the indicator for present situation fell to 106.6 from 107.6 a quarter ago. Meanwhile, the expected conditions index rose marginally to 101.4 from 101.3.

    The index measuring current financial situation improved to -4.7 in the second quarter from -8.3. Likewise, the expected financial situation indicator climbed to -3.2 from -6.5.

    The 1-year ahead economic outlook rose slightly to -4.6 from -5.1. At the same time, the 5-year economic outlook dropped to 11.9 from 15.4 in the previous quarter.

    The 'good time to buy' index declined to 17.9 in the second quarter from 23.4 in the preceding period.

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