Forex News from InstaForex

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  1. #611
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    Forex News from InstaForex
    CHINA'S INFLATION SLOWS IN SEPTEMBER; PPI CONTINUES TO FALL



    China's consumer price growth slowed in September on easing food price inflation and producer prices continued to ease, data from the National Bureau of Statistics showed Thursday.

    Consumer prices advanced 1.7 percent on a yearly basis in September, slower than the 2.4 percent increase seen in August. This was also slower than the economists' forecast of 1.8 percent.

    At the same time, core inflation, which excludes food and energy prices, held steady at 0.5 percent in September.

    Driven by a slowdown in pork price inflation, food prices grew 7.9 percent following 11.2 percent rise in August. Pork prices grew 25.5 percent but much slower than the 52.6 percent increase logged in the previous month.

    On a monthly basis, consumer prices gained 0.2 percent versus a 0.4 percent rise a month ago. Another report from NBS showed that producer prices were down 2.1 percent annually after easing 2 percent in August. Economists had forecast an annual decrease of 1.8 percent.

    With infrastructure-led stimulus still being ramped up and consumption rebounding, demand-side pressures on prices will probably strengthen in the coming months, pushing up underlying inflation, Julian Evans-Pritchard and Sheana Yue, economists at Capital Economics, said.

    However, the economists noted that the rebound in core consumer price inflation will still leave it relatively subdued and food price inflation looks set to drop back further in the near-term as pork supply continues to recover from last year's African swine fever outbreak.

    The benign outlook for inflation means it is unlikely to be a major driver of policy decisions in the coming quarters, the economists added.

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    EUROPEAN ECONOMICS PREVIEW: EUROZONE CONSUMER PRICES, FOREIGN TRADE DATA DUE



    Final consumer prices and foreign trade figures from euro area are due on Friday, headlining a light day for the European economic news.

    At 2.00 am ET, the European Automobile Manufacturers Association is set to issue Europe's new car registrations data. Sales had declined 18.9 percent annually in August.

    At 3.00 am ET, the Czech Statistical Office releases producer prices for September. Prices are forecast to drop 0.7 percent annually after falling 0.5 percent in August.

    At 4.00 am ET, Italy's final consumer price data is due. Prices are forecast to fall 0.5 percent annually, as initially estimated in September.

    At 5.00 am ET, Eurostat is scheduled to publish euro area final consumer prices and foreign trade data. According to flash estimate, consumer prices dropped 0.3 percent on year in September, following a 0.2 percent decrease in August.

    The euro area trade surplus is forecast to fall to EUR 15.1 billion in August from EUR 27.9 billion in July.

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    CHINA GDP EXPANDS 4.9% ON YEAR IN Q3



    China's gross domestic product was up 4.9 percent on year in the third quarter of 2020, the National Bureau of Statistics said on Monday - missing forecasts for a gain of 5.2 percent but still up from 3.2 percent in the three months prior.

    On a quarterly basis, GDP rose 2.7 percent - again shy of expectations for 3.2 percent and down sharply from the 11.5 percent gain in the previous three months.

    The bureau also said that industrial production jumped 6.9 percent on year in September - beating forecasts for a gain of 5.8 percent and up from 5.6 percent in August.

    Retail sales climbed an annual 3.3 percent, exceeding expectations for a rise of 1.8 percent following the 0.5 percent gain in the previous month.

    Fixed asset investment was up 0.8 percent year to date in September, matching forecasts following the 0.3 percent fall a month earlier.

    The jobless rate came in at 5.4 percent in September, down from 5.6 percent in August.

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    EUROPEAN ECONOMICS PREVIEW: GERMANY PRODUCER PRICES DATA DUE



    Producer prices from Germany and current account from euro area are due on Tuesday, headlining a light day for the European economic news.

    At 2.00 am ET, Destatis is scheduled to issue Germany's producer prices for September. Economists forecast prices to fall 1.4 percent annually, after easing 1.2 percent in August.

    At 4.00 am ET, the European Central Bank releases euro area current account data for August. The current account surplus is seen at EUR 17.2 billion compared to a EUR 16.6 billion surplus logged in July.

    In the meantime, industrial production and producer prices are due from Poland. Industrial output is expected to grow at a faster pace of 3.8 percent after rising 1.5 percent in August.

    At 8.00 am ET, Hungary's central bank monetary policy announcement is due. Economists expect the bank to hold its key rate at 0.60 percent.

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    AUSTRALIA'S LEADING INDEX SIGNALS ROBUST GROWTH MOMENTUM



    Australia's leading index improved in September suggesting that momentum continued to show a significant improvement consistent with the economy moving out of recession, data from Westpac showed Wednesday.

    The six-month annualized growth rate in the Westpac Melbourne Institute Leading Index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, rose to -0.48 percent in September from -2.28 percent in August.

    The leading index growth rate has lifted a whopping 5.11 percentage points since April, data showed.

    The main components driving the improvement have been US industrial production, the S&P/ASX 200, aggregate monthly hours worked, the Westpac-MI Consumer Expectations index, and the Westpac-MI "Unemployment Expectations index.

    However, these gains have been partially offset by a bigger drag from commodity prices and the dwelling approvals.

    Westpac upgraded its growth outlook for 2021 to 2.8 percent and that for 2022 to 3.5 percent.

    Key factors behind the improvement are a boost to consumer demand, as households spend around 50 percent of the personal tax cuts, and a lift in business investment in response to the accelerated depreciation allowances.

    Bill Evans, chief economist at Westpac expects the cash rate, the three year bond target rate and the rate on the Term Funding Facility to be reduced from 0.25 percent to 0.10 percent at the upcoming meeting on November 3.

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    EUROPEAN ECONOMICS PREVIEW: GERMAN CONSUMER CONFIDENCE DATA DUE



    Consumer confidence from Germany is due on Thursday, headlining a light day for the European economic news.

    At 2.00 am ET, Germany's Gfk consumer confidence data is due. The forward-looking consumer sentiment index is seen at -2.8 in November versus -1.6 in October.

    In the meantime, unemployment data is due from Statistics Norway. The jobless rate is forecast to fall to 5.1 percent in three months to August.

    At 2.45 am ET, the French statistical office Insee releases business confidence survey results. The sentiment index is forecast to remain unchanged at 96 in October. At 3.00 am ET, consumer confidence from Turkey is due.

    At 6.00 am ET, the Confederation of British Industry releases Industrial Trends survey results. The order book balance is seen at -45 percent in October versus -48 percent in September.

    At 7.00 am ET, Turkey's central bank announces its interest rate decision. The bank is expected to lift its one-week repo rate to 12.00 percent from 10.25 percent.

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    EUROPEAN ECONOMICS PREVIEW: EUROZONE FLASH PMI DATA DUE



    Flash Purchasing Managers' survey data from euro area and the UK are due on Friday, headlining a busy day for the European economic news.

    At 2.00 am ET, the Office for National Statistics releases UK retail sales data for September. Sales are forecast to grow 0.4 percent on month, slower than the 0.8 percent increase in August.

    At 3.15 am ET, IHS Markit releases France's composite PMI data. The composite index is forecast to fall to 48.0 in October from 48.5 in September. At 3.30 am ET, Germany's flash PMI data is due. The composite index is seen at 53.2 in October versus 54.7 in the previous month.

    In the meantime, Statistics Sweden is scheduled to publish producer prices for September. Prices had declined 4.6 percent on year in August.

    At 4.00 am ET, Germany's ifo business confidence survey results are due. Economists forecast the index to rise to 93.8 in October from 93.4 in September.

    Also, flash PMI survey results are due from euro area. The composite index is expected to drop to 49.3 in October from 50.4 in the previous month.

    At 4.30 am ET, UK composite PMI data is due. Economists forecast the indicator to drop marginally to 55.6 in October from 55.7 a month ago.

    At 6.30 am ET, Russia's central bank announces the outcome of its monetary policy meeting. The bank is expected to hold its key rate at 4.25 percent.

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    EUROPEAN ECONOMICS PREVIEW: GERMANY IFO BUSINESS CONFIDENCE DATA DUE



    Flash Purchasing Managers' survey data from euro area and the UK are due on Friday, headlining a busy day for the European economic news.

    usiness sentiment survey data from Germany is due on Monday, headlining a light day for the European economic news.

    At 2.00 am ET, Statistics Finland releases producer and import prices for September.

    At 4.00 am ET, the Turkish Statistical Institute is slated to issue manufacturing sentiment data for October.

    In the meantime, Spain's INE issues producer prices and unemployment data. The jobless rate is forecast to rise to 16.7 percent in the third quarter from 15.33 percent in the second quarter.

    At 5.00 am ET, Germany's ifo business confidence survey results are due. Economists forecast the business sentiment index to drop to 93.0 in October from 93.4 in the previous month.

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    CHINA'S INDUSTRIAL PROFITS RISE FOR FIFTH MONTH



    China's industrial profits increased for the fifth straight month in September, data from the National Bureau of Statistics showed Tuesday.

    Industrial profits grew 10.1 percent on a yearly basis but slower than the 19.1 percent increase posted in August. This was the fifth consecutive rise.

    The statistical office cited falling factory gate prices and rising raw material prices as major reason for the slowdown in industrial profits.

    During January to September period, industrial profits declined 2.4 percent from the same period last year.

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    in ro ham eslah kon:
    AUSTRALIA Q3 INFLATION CLIMBS TO 0.7% ON YEAR



    Consumer prices in Australia were up 0.7 percent on year in the third quarter of 2020, the Australian Bureau of Statistics said on Wednesday - in line with expectations following the 0.3 percent decline in the previous three months.

    On a quarterly basis, inflation climbed 1.6 percent - exceeding expectations for 1.5 percent following the 1.9 percent contraction in the three months prior.

    The Reserve Bank of Australia's trimmed mean was up 0.4 percent on quarter and 1.2 percent on year after slipping 0.1 percent on quarter and gaining 1.2 percent on year in Q2.

    The RBA's weighted median was up 0.3 percent on quarter and 1.3 percent on year after rising 0.1 percent on quarter and 1.3 percent on year in the previous three months.

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