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  1. Producer prices in South Korea were up 0.2 percent on month in May, the Bank of Korea said on Thursday - up from 0.1 percent in April.

    Individually, prices for agricultural, forestry and marine products tumbled 0.9 percent on month, while manufacturing products were up 0.4 percent, utilities added 0.3 percent and services gained 0.1 percent.

    On a yearly basis, producer prices advanced 2.2 percent, accelerating from 1.6 percent in the previous month.

    The material has been provided by InstaForex Company - www.instaforex.com
  2. Ibovespa, the benchmark stock index in Brazil, closed up 1.02% to 72,123.41 points Wednesday, influenced by the 5.12% rise on Petrobras' preferred shares, reflecting market expectation with the House of Representatives' vote on the transfer of rights in the pre-salt layer.

    The gains were also fueled by the expectation that the Brazilian Central Bank's Monetary Policy Committee (Copom) keep the basic interest rate unchanged.

    "The Selic should remain stable at 6.5%, but it is worth paying attention to the official statement," said Luis Gustavo Pereira, a strategist at Guide Investimentos.

    According to Mirae Asset chief analyst Pedro Galdi, Petrobras shares pulled the Ibovespa higher. The lull in the global scenario, which put aside concerns about the trade war between the United States and China, also positively impacted Brazilian shares.

    According to a trader, banks' stocks rose mainly due to a technical adjustment but also driven by the expectation of maintenance of the Selic at 6.50% per year. Itau Unibanco's shares rose 1.85%, Bradesco's stocks rose 2.13%, while Banco do Brasil's gained 2.89%.

    Meanwhile, in a day of volatility, the locally traded U.S. dollar appreciated at the end of the trading session, rising 0.90%, at R$ 3.7790, with investors seeking protection. Abroad, the greenback had a mixed movement against the main currencies and those of emerging countries.

    For THursday, analysts point out that the movement of the Ibovespa depends on the tone of the Copom statement. According to Galdi, if the tone indicates the possibility of the Selic going up in the short term, the markets may point back down.

    The material has been provided by InstaForex Company - www.instaforex.com
  3. New Zealand will on Thursday see Q1 numbers for gross domestic product, highlighting a light day for Asia-Pacific economic activity.

    GDP is expected to expand 0.5 percent on quarter and 2.7 percent on year, slowing from 0.6 percent on quarter and 2.9 percent on year in the three months prior.

    Japan will see supermarket sales data for May; in April, sales slid 1.2 percent on year.

    Hong Kong will provide May figures for consumer prices; in April, inflation was up 1.9 percent on year.

    The central bank in the Philippines will wrap up its monetary policy meeting and then announce its decision on interest rates; the bank is expected to keep its benchmark lending rate unchanged at 3.25 percent.

    The material has been provided by InstaForex Company - www.instaforex.com
  4. South Korea Producer Prices +0.2% On Month, +2.2% On Year In May

    The material has been provided by InstaForex Company - www.instaforex.com
  5. The Executive Board of the International Monetary Fund (IMF) approved an agreement with Argentina in the framework of the three-year stand-by agreement for US$ 50 billion - or about 1,110% of the quota of Argentina in the Fund.

    The decision allows the authorities to make an immediate release of US$ 15 billion. Half of that amount would go to budget support. The remainder should be available throughout the agreement term, subject to quarterly reviews by the executive board of the Fund.

    "The authorities have announced the intention to get the first tranche of the agreement, but later they should treat the rest of the agreement as a precautionary measure," the IMF said in a statement.

    According to the Fund, the economic plan of the Argentinean authorities backed by the stand-by agreement seeks to restore market confidence through a coherent macroeconomic program that reduces financing needs, channels Argentina's public debt to a downward path and strengthens the plan to curb inflation through more realistic inflation targets and the strengthening of central bank independence.

    "It should be noted that the plan includes measures to protect the most vulnerable segments of society by keeping social spending and, should social conditions deteriorate, opening room to increase spending on the Argentinean social protection network," added the IMF.

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