Forex News from InstaForex

**InstaForex Gertrude** · 31-07-23, 06:28

JAPAN RETAIL SALES SINK 0.4% IN JUNE

The value of retail sales in Japan was down 0.4 percent on month in June, the Ministry of Economy, Trade and Industry said on Monday - coming in at 13.225 trillion yen.

That missed expectations for an increase of 0.2 percent following the upwardly revised 1.4 percent gain in May (originally 1.3 percent).

On a yearly basis, retail sales climbed 5.9 percent, matching forecasts and up from 5.8 percent in the previous month.

Commercial sales were down 0.3 percent on month and up 0.2 percent on year at 49.001 trillion yen, while wholesale sales slipped 0.6 percent on month and 1.8 percent on year at 35.776 trillion yen.

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**InstaForex Gertrude** · 02-08-23, 06:56

NZ DOLLAR DROPS AGAINST MAJORS

The New Zealand dollar weakened against other major currencies in the Asian session on Wednesday.

The NZ dollar fell to more than a 1-month low of 0.6101 against the U.S. dollar, from yesterday's closing value of 0.6148.

Against the euro and the yen, the kiwi dropped to a 9-day low of 1.7997 and a 2-day low of 87.42 from Tuesday's closing quotes of 1.7857 and 88.12, respectively.

The kiwi edged down to 1.0804 against the Australian dollar, from yesterday's closing value of 1.0750.

If the kiwi extends its downtrend, it is likely to find support around 0.59 against the greenback, 1.82 against the euro, 83.00 against the yen and 1.10 against the aussie.

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**InstaForex Gertrude** · 11-08-23, 10:55

Bitcoin: simple trading tips for novice traders on August 11. Overview of yesterday crypto market trades

Tips for trading
BTC Yesterday, Bitcoin did not move according to the plan, failing to give any market entry signals. The US inflation data had no impact on BTC, disappointing traders who were betting on a bullish trend, especially after favorable growth earlier this week, approaching $30,000. Today, Bitcoin's direction is unlikely to see significant changes, mostly maintaining a sideways movement. Nonetheless, it is better to stick to scenario 1.

Buy signal
Scenario 1: Today, you may buy Bitcoin when it reaches the entry point near $29,480 (green line on the chart), aiming for growth toward $29,780 (thicker green line on the chart). It is better to close long positions and open short ones near $29,780. Expecting substantial Bitcoin growth today might be overly optimistic, but a gradual upward movement toward $30,000 may occur. Important! Before buying, make sure that the MACD indicator is above zero.

Scenario 2: Another opportunity to buy Bitcoin today arises if the price tests $29,330 twice. This would limit the downward potential of the trading instrument and trigger an upward market reversal. We can also anticipate a rise towards the opposing levels of $29,480 and $29,780.

Sell signal
Scenario 1: Selling Bitcoin today is possible after $29,330 (red line on the chart) is breached, leading to a rapid decline in the trading instrument. Bears' key target would be $29,037, where you may close short positions and open long ones. Pressure on Bitcoin will intensify if bulls show weak activity near the daily peak range. Important! Prior to selling, make sure that the MACD indicator is below zero.

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**InstaForex Gertrude** · 14-08-23, 11:00

BTC update for August 14,.2023 - Fake breakout of the support zone

BTC/USD has been trading upside this morning and I found fake breakout of the support level at $29.200, which is sign that sellers could be in the trap.

Due to the strong rejection of the support at $29.200 and potential for the fake breakout of the consolidation, I see potential for the further rally towards upside references.

Upside objectives are set at the price of $29.670 and $30.110

Stochastic oscillator is showing bullish divergence and potential for the further rally...

Intraday support is set at the price of $29.000

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**InstaForex Gertrude** · 15-08-23, 06:28

Nvidia Sets the Pace: New Horizons for S&P 500 and Nasdaq

This leap propelled the information technology index up by 1.85%, making it stand out among other sector indices of the S&P 500.

Apart from Nvidia, stocks of other tech giants, such as Alphabet and Amazon.com, also demonstrated steady growth, increasing by 1.4% and 1.6% respectively. Jay Hatfield from Infrastructure Capital Advisors notes: "Tech has rarely surprised us lately, and now it has surpassed all expectations. With Nvidia's upcoming report, the tech market could receive an additional boost."

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**InstaForex Gertrude** · 16-08-23, 11:52

BTC update for August 16,.2023 - Key support at the $29.000 on the test

BTC/USD has been trading downside this morning and the price is testing the key support cluster at $29.100.

Potential breakout of the support cluster at the price of $29.000 can lead downside movement towards lower references at $28.800 and $28.730

Potential rejection of the support cluster $29.000 can lead price upside towards upside reference at $29.640

Short-term condition is balanced

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**InstaForex Gertrude** · 17-08-23, 12:23

EUR/USD: dollar reflects resilience of US economy while euro's stability in question

The US dollar is once again in a dominant position, successfully overshadowing the euro. The dollar seems to mirror the strength and confidence of the American economy, which has showcased resilience so many times already. For the euro, the question of stability remains a challenging one. It had to prove its viability several times but not always with success.

The Federal Reserve's actions and the current macroeconomic statistics are crucial for the greenback's future trajectory. This is particularly in reference to the monthly reports released on August 16 by the US Census Bureau. According to recent data, housing starts in July increased by 3.9% month-on-month. Notably, there was an 11.7% decrease in this metric in June. This exceeded market expectations which had anticipated growth of 2.7%. Moreover, the number of building permits also increased in the past month by 0.1% after decreasing by 3.7% in June.

The US dollar did not show a significant reaction to this batch of macroeconomic data. The publication of the Fed minutes had a more pronounced impact on the dollar's movements. On the evening of August 16, prior to the report's publication, the greenback depreciated slightly against the euro. By the next morning, the dollar had appreciated slightly, positioning the EUR/USD pair close to 1.0883 and erasing some of its earlier gains.

The chart indicates that the EUR/USD pair is struggling to break out of the bearish 20-day SMA, which is accelerating its decline. Other technical indicators show a downward movement after failing to cross their median lines. This indicates a continuation of the downward trend, which could intensify if the nearest support level at 1.0870 is broken. However, the situation has currently stabilized, and the pair is holding confidently within its current range.

In the current landscape, the European currency remains susceptible to fluctuations. Notably, after the release of the Eurozone's economic data, the euro appreciated but later its growth stagnated. The combined GDP of the 20 Eurozone countries grew by 0.6% annually and by 0.3% quarterly in the second quarter of 2023. Both metrics were consistent with preliminary assessments. Moreover, in the first month of summer, the Eurozone's industrial production volume decreased by 1.2% year-on-year but rose by 0.5% on a monthly basis. This surpassed analyst expectations, predicting a decline of 4.2% and 0.1% respectively.

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**InstaForex Gertrude** · 23-08-23, 07:00

EUROPEAN ECONOMIC NEWS PREVIEW: EUROZONE FLASH PMI DATA DUE

Purchasing Managers' survey results from the euro area and the UK are the top economic news due on Wednesday.

At 3.15 am ET, France's flash composite Purchasing Managers' survey results are due. The composite index is forecast to rise to 47.5 in August from 46.6 in the previous month. At 3.30 am ET, S&P Global is scheduled to release Germany's composite PMI survey results. The composite output index is expected to fall to 48.3 in August from 48.5 a month ago.

At 4.00 am ET, Eurozone flash PMI survey data is due. Economists expect the composite indicator to ease to 48.5 in August from 48.6 in the previous month.

Half an hour later, UK S&P/CIPS composite PMI survey results are due. The composite index is seen at 50.3 in August compared to 50.8 a month ago.

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**InstaForex Gertrude** · 24-08-23, 07:15

EUROPEAN ECONOMIC NEWS PREVIEW: FRANCE BUSINESS CONFIDENCE DATA DUE

Business sentiment survey data from France is the top economic news due on Thursday, headlining a light day for the European economic news.

At 2.45 am ET, France's statistical office INSEE releases monthly business confidence survey data. The business sentiment index is forecast to fall to 99 in August from 100 in July.

At 3.00 am ET, business sentiment survey data is due from the Czech Republic.

At 4.00 am ET, Statistics Poland is slated to release unemployment data for July. The jobless rate is seen unchanged at 5.00 percent.

At 6.00 am ET, the Confederation of British Industry publishes Distributive Trades survey data for August.

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**InstaForex Gertrude** · 25-08-23, 10:29

GERMAN ECONOMY STABILIZES AS ESTIMATED IN Q2

Germany's economy stabilized as estimated in the second quarter as weak foreign demand offset the strength in government spending and investment, latest data from Destatis showed Friday.

Gross domestic product posted nil growth in the second quarter after a 0.1 percent fall in the first quarter and a 0.4 percent decline in the fourth quarter of 2022.

With the latest flat growth, the biggest euro area economy ended a short period of recession.

The statistical office confirmed the preliminary estimate published on July 28.

"After slight declines in the previous two quarters, the German economy stabilized in spring," Destatis President Ruth Brand said.

"We continue to see the German economy being stuck in the twilight zone between stagnation and recession," ING economist Carsten Brzeski said.

In the latest World Economic Outlook, the International Monetary Fund projected the German economy to shrink 0.3 percent this year before rebounding 1.3 percent in 2024.

On a yearly basis, the price-adjusted GDP dropped 0.6 percent in contrast to the 0.1 percent rise a quarter ago. Calendar-adjusted GDP fell 0.2 percent, the same rate of decline as reported in the first quarter.

Both price-adjusted and calendar-adjusted growth figures were confirmed. The expenditure-side of GDP showed that household spending remained unchanged in the second quarter and government spending rebounded 0.1 percent following a 1.9 percent fall a quarter ago.

Gross fixed capital formation gained 2.1 percent, reversing a 1.7 percent fall in the preceding period.

Data showed that exports slid 1.1 percent, offsetting the 0.4 percent rise in the first quarter. By contrast, imports stabilized after a 1.5 percent decrease.

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**InstaForex Gertrude** · 28-08-23, 08:55

JAPAN LEADING INDEX FALLS AS ESTIMATED

Japan's leading index weakened as initially estimated at the end of the second quarter, the latest data from the Cabinet Office showed on Monday.

The leading index, which measures future economic activity, dropped to 108.9 in June from a six-month high of 109.1 in May. That was in line with the flash data published on August 7.

The coincident index that measures the current economic situation rose to a 10-month high of 115.1 in June from 114.3 in the previous month, as estimated.

Data showed that the lagging index rose somewhat to 107.3 from 107.2 in the previous month. The reading was the strongest since January 2020

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**InstaForex Gertrude** · 29-08-23, 05:42

JAPAN JOBLESS RATE RISES TO 2.7% IN JULY

The unemployment rate in Japan came in at a seasonally adjusted 2.7 percent in July, the Ministry of Internal Affairs and Communications said on Tuesday.

That exceeded expectations for 2.5 percent, which would have been unchanged from the June reading.

The jobs-to-applicant ratio ticked down to 1.29, shy of forecasts for 1.30, which again would have been unchanged.

The participation rate was 63.1 percent, matching forecasts and steady from the June level.

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**InstaForex Gertrude** · 30-08-23, 06:38

AUSTRALIA CONSTRUCTION WORK DONE ADDS 0.4% IN Q2

The value of total construction work done in Australia was up a seasonally adjusted 0.4 percent on quarter in the second quarter of 2023, the Australian Bureau of Statistics said on Wednesday - coming in at A$59.010 billion.

That missed forecasts for an increase of 1.0 percent following the 1.8 percent gain in the three months prior.

The increase was driven by engineering work, which rose 0.7 percent in the June quarter and is 15.5 percent higher than the same time last year. Building work done rose 0.2 percent and is 4.3 percent higher than the same time last year.

The value of building work done rose 0.2 percent in the June quarter.

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**InstaForex Gertrude** · 31-08-23, 02:50

JAPAN RETAIL SALES JUMP 6.8% ON YEAR IN JULY

The total value of retail sales in Japan was up 6.8 percent on year in July, the Ministry of Economy, Trade and Industry said on Thursday - coming in at 13.924 trillion yen.

That beat forecasts for an increase of 5.4 percent following the downwardly revised 5.6 percent gain in June (originally 5.9 percent).

On a monthly basis, retail sales advanced 2.1 percent after slipping 0.6 percent in June.

Sales from large retailers improved an annual 6.0 percent, up from 4.0 percent a month earlier.

Wholesale sales were down 0.7 percent on year and up 1.3 percent on month at 35.638 trillion yen, while commercial sales rose 1.3 percent on year and 1.5 percent on month to 49.562 trillion yen.

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**InstaForex Gertrude** · 01-09-23, 06:45

CHINA MANUFACTURING SECTOR PIVOTS TO EXPANSION - CAIXIN

The manufacturing sector in China climbed into expansion territory in August, the latest survey from Caixin revealed on Friday with a manufacturing PMI score of 51.0.

That's up from 49.2 in July and it moves above the boom-or-bust line of 50 that separates expansion from contraction.

Supporting the improvement in overall business conditions was a renewed increase in new order intakes. Companies indicated that firmer underlying market conditions had helped to boost client spending. The modest upturn in overall sales occurred despite a further drop in new business from abroad in August, suggesting that stronger domestic demand was the main source of growth.

The downturn in new export orders did ease compared to July, however, and was only mild. Companies responded to greater amounts of new work by expanding production during August. Though modest, the rate of output growth was among the best seen over the past year.

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**InstaForex Gertrude** · 06-09-23, 06:41

CHINESE YUAN FALLS TO 10-MONTH LOW AGAINST U.S. DOLLAR

The Chinese yuan weakened against the U.S. dollar in the Asian session on Wednesday.

Against the greenback, the yuan slid to a 10-month low of 7.3217 from a recent high of 7.3098. At yesterday's close, the yuan was trading at 7.3040 against the greenback.

If the yuan extends its downtrend, it is likely to find support around the 7.34 area.

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**InstaForex Gertrude** · 07-09-23, 07:48

EUROPEAN ECONOMIC NEWS PREVIEW: GERMANY INDUSTRIAL OUTPUT DATA DUE

Industrial production from Germany and house prices from the UK are due on Thursday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis is scheduled to issue Germany's industrial production for July. Output is forecast to fall 0.5 percent on month, slower than the 1.5 percent decrease in June.

In the meantime, UK Halifax house price data is due. Economists forecast house prices to drop 0.3 percent on month in August, the same pace of decrease as seen in July.

At 2.45 am ET, foreign trade and current account figures are due from France. The trade deficit is seen at EUR 6.8 billion in July compared to a shortfall of EUR 6.7 billion in June.

At 3.00 am ET, the Czech Statistical Office is set to publish retail sales for July. Sales had increased 0.3 percent on a monthly basis in June.

At 4.00 am ET, Italy's statistical office ISTAT publishes retail sales for July. Economists forecast sales to grow 0.2 percent, offsetting the 0.2 percent fall in June. At 5.00 am ET, revised GDP data is due from the euro area. The preliminary estimate showed that the currency bloc expanded 0.3 percent sequentially in the second quarter after remaining flat a quarter ago.

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- - - Updated - - -

EUROPEAN ECONOMIC NEWS PREVIEW: GERMANY INDUSTRIAL OUTPUT DATA DUE

Industrial production from Germany and house prices from the UK are due on Thursday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis is scheduled to issue Germany's industrial production for July. Output is forecast to fall 0.5 percent on month, slower than the 1.5 percent decrease in June.

In the meantime, UK Halifax house price data is due. Economists forecast house prices to drop 0.3 percent on month in August, the same pace of decrease as seen in July.

At 2.45 am ET, foreign trade and current account figures are due from France. The trade deficit is seen at EUR 6.8 billion in July compared to a shortfall of EUR 6.7 billion in June.

At 3.00 am ET, the Czech Statistical Office is set to publish retail sales for July. Sales had increased 0.3 percent on a monthly basis in June.

At 4.00 am ET, Italy's statistical office ISTAT publishes retail sales for July. Economists forecast sales to grow 0.2 percent, offsetting the 0.2 percent fall in June. At 5.00 am ET, revised GDP data is due from the euro area. The preliminary estimate showed that the currency bloc expanded 0.3 percent sequentially in the second quarter after remaining flat a quarter ago.

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**InstaForex Gertrude** · 08-09-23, 08:00

EUROPEAN ECONOMIC NEWS PREVIEW: GERMANY FINAL INFLATION DATA DUE

Final inflation from Germany and industrial production from France are due on Friday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis is scheduled to issue Germany's final inflation data for August. The flash estimate showed that consumer price inflation slowed 6.1 percent from 6.2 percent in July.

In the meantime, Statistics Sweden releases GDP, household consumption, industrial output and new orders.

At 2.45 am ET, France's statistical office INSEE is set to release industrial production data for July. Output is expected to grow 0.1 percent on a monthly basis, in contrast to the 0.9 percent fall in June.

At 3.00 am ET, industrial output figures are due from Austria and Spain. Economists forecast Spain's industrial output to decline 2.0 percent annually in July after a 3.0 percent decrease seen in June.

At 5.00 am ET, inflation and industrial output reports are due from Greece.

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**InstaForex Gertrude** · 12-09-23, 08:42

EURO RISES AGAINST MAJORS

The euro strengthened against other major currencies in the Asian session on Tuesday.

The euro rose to a 5-day high of 0.8599 against the pound and nearly a 2-week high of 0.9589 against the Swiss franc, from recent lows of 0.8580 and 0.9571, respectively.

Against the U.S. and the Canadian dollars, the euro advanced to a 1-week high of 1.0768 and a 4-day high of 1.4621 from Monday's closing quotes of 1.0748 and 1.4587, respectively.

The euro edged up to 157.78 against the yen, from yesterday's closing value of 157.53.

If the euro extends its uptrend, it is likely to find resistance around 0.87 against the pound, 0.97 against the franc, 1.10 against the greenback, 1.48 against the loonie and 160.00 against the yen.

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**InstaForex Gertrude** · 14-09-23, 02:53

JAPAN CORE MACHINE ORDERS SINK 1.1% IN JULY

The value of core machine orders in Japan slumped a seasonally adjusted 1.1 percent on month in July, the Cabinet Office said on Thursday - coming in at 844.9 billion yen.

That missed expectations for a decline of 0.9 percent following the 2.7 percent increase in June.

On a yearly basis, core machine orders stumbled 13.0 percent - again shy of forecasts for a decline of 10.7 percent after shedding 5.8 percent in the previous month.

For the third quarter of 2023, core machine orders are seen lower by 2.6 percent on quarter and 7.9 percent on year at 2,517.4 billion yen.

The total value of machinery orders received by 280 manufacturers operating in Japan increased by 9.8 percent on month and 0.8 percent on year to 2,901.4 billion yen.

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