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Author Topic: Forex News from InstaForex
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Gertrude
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Post Re: Forex News from InstaForex
on: December 7, 2017, 04:42
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Australian Dollar Slides to Two-Week Low after Trade Data Miss Estimates

The Australian dollar declined to a two-week low on Thursday after published economic data showed its trade surplus contracted in October, clocking in below estimates as exports weakened.

According to the Australian Bureau of Statistics, the country's balance of goods and services was a surplus of A$105 million for October. The figure was down from A$1.6 billion in September and missed estimates of A$1.4 billion by economists

Exports declined 3 percent in October compared to the prior month's A$903 million, missing estimates of 3 percent growth. Outbound shipments of non-rural goods declined 5 percent while rural goods slid 2 percent.

Imports increased 2 percent month on month, defying expectations that inbound shipments would be flat.

The Aussie declined 0.3 percent versus the greenback to its lowest since November at $0.7544 after the data publication.

Prime News are provided by InstaForex

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Post Re: Forex News from InstaForex
on: December 11, 2017, 04:09
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RBNZ’s Spencer Warns About Bitcoin’s Bubble Qualities, Instability

Reserve Bank of New Zealand Acting Governor Grant Spencer warned that Bitcoin's remarkable rally looks like a speculative bubble and its instability makes it unuseful in the future.

The New Zealand central banker said that the bitcoin is looking 'remarkably like a bubble forming'. He said that there have been bubbles over the centuries, but bitcoin looks like a classic case. He also warned that with such a bubble, there is no telling how far it will go before it drops.

So far this year, the cryptocurrency has surged more than 1,500 percent and around 85 percent in just the last two weeks, as people clamber to acquire the digital currency on hopes that it will be a widely-accepted and legitimate alternative to gold or traditional cash. Trading in bitcoin futures starts this week.

Spencer said that in his view, bitcoin is highly similar to gold, which also has to be mined, has a fixed quality and the price is very volatile.

RBNZ is currently doing research on the demand for the kiwi or the New Zealand dollar and whether it would be possible at some point in the future to replace the currency with a digital alternative, however, Spencer said that bitcoin should not a basis for this scenario. He said that given bitcoin's lack of stability, it would not be useful.

Prime News are provided by InstaForex

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Post Re: Forex News from InstaForex
on: December 11, 2017, 05:12
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New Zealand Govt Appoints Adrian Orr As Central Bank Governor

The New Zealand government appointed Adrian Orr as Reserve Bank Governor for a five year term.

"Following the Reserve Bank Board's unanimous recommendation to me, I have appointed Adrian Orr for a five-year term at the completion of Acting Governor Grant Spencer's term," Finance Minister Grant Robertson, said.

The appointment will take effect on March 27, 2018.

Robertson said Orr has the technical and leadership qualities required to be Governor and CEO of the Reserve Bank.

He is currently the Chief Executive Officer of the New Zealand Superannuation Fund, a position he has held since 2007.

Orr is set to oversee the bank through the government's planned review of the Reserve Bank Act.

Orr has the standing and ability to manage this process of change as Governor of the Bank, Robertson said.

News are provided by InstaForex

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Post Re: Forex News from InstaForex
on: December 12, 2017, 02:50
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Australia Q3 House Prices Ease 0.2% On Quarter

Residential property prices in Australia fell 0.2 percent on quarter in the third quarter of 2017, the Australian Bureau of Statistics said on Tuesday.

That missed forecasts for a gain of 0.5 percent following the 1.9 percent jump in the previous three months.

On a yearly basis, house prices were up 8.3 percent - again missing forecasts for 8.8 percent and down from 10.2 percent in the three months prior. The capital city residential property price indexes fell in Sydney (-1.4 percent), Perth (-1.0 percent), Darwin (-2.6 percent) and Canberra (-0.2 percent) and rose in Melbourne (+1.1 percent), Brisbane (+0.7 percent), Adelaide (+0.7 percent) and Hobart (+3.4 percent).

Annually, residential property prices rose in Hobart (+13.8 percent), Melbourne (+13.2 percent), Sydney (+9.4 percent), Canberra (+6.9 percent), Adelaide (+4.8 percent) and Brisbane (+3.5 percent) and fell in Darwin (-6.3 percent) and Perth (-2.4 percent).

"The fall in Sydney property prices this quarter was consistent with market indicators," said ABS Chief Economist Bruce Hockman.

The total value of residential dwellings in Australia was A$6.779 trillion at the end of the September quarter, rising A$14.843 billion over the quarter.

The mean price of residential dwellings fell A$1,200 to A$681,100 and the number of residential dwellings rose by 40,200 to 9,954,100 in Q3.

Also on Tuesday, the latest survey from National Australia Bank showed that consumer confidence in Australia slowed in November with an index score of +6.

That's down from the upwardly revised +9 in October (originally +8).

Business conditions also slowed in November with index coming in at a score of +12, down sharply from +21 in the previous month.

News are provided by InstaForex

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Gertrude
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Post Re: Forex News from InstaForex
on: December 12, 2017, 04:10
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Canadian Dollar Little Changed Ahead of Fed Meeting, Poloz Speech

The Canadian dollar was nearly flat versus the US currency as investors turned their focus on this week's Federal Reserve interest rate hike decision as well as a speech by Bank of Canada Governor Stephen Poloz.

The loonie fell 1.3 percent the previous week after the central bank delivered a more dovish tone than investors had anticipated. The Bank of Canada kept its benchmark interest rate at one percent.

The Canadian central bank is concerned about a number of uncertainties that could impact the nation's economy, which includes renegotiations on the North American Free Trade Agreement.

NAFTA talks convene in Washington next week for a limited round of negotiations aimed at demonstrating progress toward closing easier chapters.

The U.S. central bank is widely expected to hike interest rates at its two-day policy meeting, and is seen possibly tightening rates two or three times next year.

The Canadian dollar traded in a narrow range of C$1.2832 to C$1.2868. On Friday, it reached its weakest level in a week, at C$1.2880.

According to U.S. Commodity Futures Trading Commission data and Reuters calculations, speculators reduced bullish wagers on the Canadian currency.

Canadian government bond prices were lower across much of a flatter yield curve, with the two-year off by 1.5 Canadian cents to yield 1.512 percent and the 10-year dropping 1 Canadian cent to yield 1.862 percent.

The gap between Canada's two-year yield and its U.S. equivalent widened by 1.5 basis points to a spread of -31.1 basis points.

Prime News are provided by InstaForex

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Post Re: Forex News from InstaForex
on: December 13, 2017, 04:37
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Bitcoin Scales New Record High in Rally Towards $20, 000

The digital currency Bitcoin reached another record peak on Tuesday, two days after the debut of the bitcoin futures on a U.S. exchange and before the launch of another futures contract next week, raising investors' hope that the Bitcoin is nearing the $20, 000 mark.

On Sunday, Cboe Global Markets introduced bitcoin futures, allowing investors to experience trading with the cryptocurrency through a large, regulated exchange. On December 17, CME Group is expected to launch its own futures contract.

The biggest cryptocurrency in the world was priced at $17, 310 on Bitstamp exchange, up 5.1 percent on the day. Early on Tuesday, bitcoin rose to a record high of $17, 428.42, recording an almost 20-fold rise in its value for the year as it attracted millions of new investors.

However, as bitcoin hit a new record, digital currency exchange operators Coinbase and Bitfinex reported issues with service via their website, causing problems for traders looking to lock in their profits on the latest gains in the value of bitcoin and other cryptocurrencies.

Meanwhile, the one-month bitcoin futures on Cboe Futures Exchange traded slightly tepid, with prices generally stead and volumes around a third of those seen on Monday. Bitcoin futures due on January traded at $18, 450 with around 1,416 contracts traded.

Prime News are provided by InstaForex

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Post Re: Forex News from InstaForex
on: December 13, 2017, 05:13
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South Korea Money Supply Growth Accelerates Slightly

South Korea's money supply growth accelerated marginally in October after remaining stable in the previous month, preliminary figures from Bank of Korea showed Wednesday.

M2, a broad measure of money supply climbed 4.7 percent year-over-year in October, just above the 4.6 percent rise in the prior month.

On a monthly basis, M2 money supply rose 0.8 percent in October, following a 0.2 percent increase in September.

The annual growth in liquidity moderated to 6.0 percent in October from 6.7 percent a month ago.

Liquidity of financial institutions grew at a stable rate of 5.9 percent yearly in October.

News are provided by InstaForex

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