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Old 05-21-2020, 01:36 AM   Nav to Top  #341
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European Economics Preview: Eurozone Flash PMI Data Due



Flash Purchasing Mangers' survey results from euro area and the UK are due on Thursday, headlining a busy day for the European economic news.

At 3.15 am ET, IHS Markit is scheduled to issue France's PMI data. Economists forecast the composite output index to improve to 32.0 in May from 11.1 a month ago.

At 3.30 am ET, Germany's flash PMI data is due. The composite index is seen at 34.1 in May versus 17.4 in the previous month.

At 4.00 am ET, Eurozone composite PMI data is due. The index is expected to advance to 25.0 in May from 13.6 in April.

In the meantime, industrial production and producer prices are due from Poland. Economists forecast industrial output to fall 10 percent annually in April, faster than the 2.3 percent decrease in March.

At 4.30 am ET, IHS Markit/CIPS publishes UK flash composite PMI data. Economists forecast the composite indicator to rise to 25.0 in May from 13.8 in April.

At 6.00 am ET, the Confederation of British Industry releases Industrial Trends survey data. The order book balance is forecast to fall to -59 percent in May from -56 percent in the preceding period.

At 7.00 am ET, Turkey's central bank interest rate announcement is due. Economists expect the central bank to cut its one-week repo rate to 8.25 percent from 8.75 percent.

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Old 05-22-2020, 01:42 AM   Nav to Top  #342
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Bank Of Japan Launches New Lending Program



The Bank of Japan introduced a new lending program to help small and medium-sized firms and left its target for short-term interest rate and the bond yield target unchanged on Friday.

At the emergency meeting, the policy board of the BoJ unanimously decided to launch a lending scheme worth about JPY 30 trillion to support SMEs struggling to operate amid the spread of the novel coronavirus, or Covid-19.

According to the new scheme, the bank will provide funds to eligible counterparties against pooled collateral for up to 1 year at the loan rate of zero percent.

The board voted 8-1 to retain the interest rate at -0.1 percent on current accounts that financial institutions maintain at the central bank.

Also, the bank will continue purchase a necessary amount of Japanese government bonds without setting an upper limit so that 10-year JGB yields will remain at around zero percent.

As for CP and corporate bonds, the BoJ will maintain their amounts outstanding at about JPY 2 trillion and about JPY 3 trillion, respectively.

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Old 05-22-2020, 02:14 AM   Nav to Top  #343
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For more concern Please contact the support service by one of these two emails support@instaforex.com or clients@instaforex.com, providing your account number so they can assist you regarding your problem. Thank you and have a good day!
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Old 05-26-2020, 02:05 AM   Nav to Top  #344
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Singapore Cuts 2020 GDP Outlook



Singapore's economic outlook for 2020 was lowered further due to the deterioration in foreign demand forecast and the expected economic impact of the coronavirus containment measures.

The Ministry of Trade and Industry on Tuesday forecast the city-state economy to shrink "-7.0 to -4.0 percent" this year instead of "-4.0 to -1.0 percent projected in March.

The ministry said there continues to be a significant degree of uncertainty over the length and severity of the coronavirus, or Covid-19, outbreak, as well as the trajectory of the economic recovery, in both the global and Singapore economies.

Gross domestic product shrank 0.7 percent on a yearly basis in the first quarter, reversing a 1 percent rise in the fourth quarter 2019. The first quarter figure was revised from -2.2 percent.

On a quarter-on-quarter seasonally-adjusted annualized basis, the economy contracted 4.7 percent, a pullback from the 0.6 percent expansion in the fourth quarter of last year.

The manufacturing sector expanded by 6.6 per cent year-on-year on account of output expansions in the biomedical manufacturing, precision engineering and transport engineering clusters.

Meanwhile, the construction sector contracted 4.0 percent. Likewise, the wholesale and retail trade sector fell 5.8 percent and the transportation and storage sector declined 8.1 percent.

The accommodation and food services sector logged a sharp fall of 23.8 percent. At the same time, the information and communications sector grew 3.5 percent and the finance and insurance sector expanded 8.0 percent.

The business services sector shrank 3.3 percent in the first quarter.

A very strong performance from the biomedical manufacturing sector meant that Singapore's economy contracted much less in the first quarter than previously thought, Alex Holmes, an economist at Capital Economics, said.

But with a stringent lockdown in place at home and demand cratering abroad, the sector is unlikely to stop a huge contraction in the economy in the second quarter, the economist added.

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Old 05-26-2020, 02:37 AM   Nav to Top  #345
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Old 05-27-2020, 01:58 AM   Nav to Top  #346
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European Economics Preview: French Consumer, Business Sentiment Data Due



Consumer and business sentiment survey results from France are due on Wednesday, headlining a light day for the European economic news.

At 2.00 am ET, Statistics Norway is set to issue unemployment and retail sales data. The jobless rate is forecast to rise to 4 percent in March from 3.5 percent in the preceding period.

At 2.45 am ET, France's Insee publishes consumer and business confidence survey results. The consumer sentiment index is forecast to fall to 92 in May from 95 in April. The business confidence index is seen at 85 versus 82 a month ago.

At 3.00 am ET, unemployment data from Hungary is due.

At 3.30 am ET, European Central Bank President Christine Lagarde is set to speak at the European Youth Event 2020. In the meantime, Statistics Sweden publishes producer prices for April. Prices had fallen 3.6 percent annually in March.

At 4.00 am ET, unemployment data from Norway and manufacturing Purchasing Managers' survey from Austria are due.

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Old 05-28-2020, 01:39 AM   Nav to Top  #347
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Korea Rate Decision On Tap For Thursday



The Bank of Korea will wrap up its monetary policy meeting on Thursday and then announce its decision on interest rates, highlighting a light day for Asia-Pacific economic activity. The central bank is projected to trim its benchmark lending rate by 25 basis points, from 0.75 percent to 0.50 percent.

Australia will see Q1 numbers for capital expenditure and May figures for the business confidence index from ANZ. Capex is expected to sink 2.6 percent on quarter after falling 2.8 percent in the previous three months. The business confidence index had a score of -66.6 in April.

Taiwan will see May figures for its consumer confidence index; in April, the index score was 73.39.

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Old 05-29-2020, 01:43 AM   Nav to Top  #348
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Japan Retail Sales Slide 9.6% On Month In April



The total value of retail sales in Japan was down a seasonally adjusted 9.6 percent on month in April, the Ministry of Economy, Trade and Industry said on Friday.
That was shy of expectations for a decline of 7.0 percent following the 4.5 percent drop in March.

On a yearly basis, retail sales tumbled 13.7 percent - also missing expectations for a drop of 11.5 percent after slipping 4.6 percent in the previous month.

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Old Today, 02:04 AM   Nav to Top  #349
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Philippines Manufacturing PMI Rises To 40.1 In May - IHS Markit



The manufacturing sector in the Philippines continued to contract in May, albeit at a slower rate, the latest survey from IHS Markit revealed on Monday with a manufacturing PMI score of 40.1.

That's up from the record low 31.6 in April, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.

Individually, the rates of decline in output and new orders eased but remained sharp.

Employment levels fell steeply again, while output prices ricked higher as cost pressures rose.

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