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New Zealand Exports NZ$4.19 Billion In January; Imports NZ$4.82 Billion The material has been provided by InstaForex Company - www.instaforex.com
New Zealand Trade Deficit NZ$626 Million In January The material has been provided by InstaForex Company - www.instaforex.com
Treasuries saw significant weakness during trading on Thursday, extending the notable move to the downside seen over the past several sessions.Bond prices came under pressure in early trading and remained firmly negative throughout the session. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, jumped 12.9 basis points to 1.518 percent.The ten-year yield briefly spiked above 1.6 percent in intraday trading, reaching its highest level in a year. The yield still ended the session at a one-year closing high.The sell-off by treasuries came as a batch of largely upbeat U.S. economic data further reduced the appeal of safe havens such as bonds.Early in the day, the Labor Department released a report showing a steep drop in first-time claims for U.S. unemployment benefits in the week ended February 20th.The Labor Department said initial jobless claims tumbled to 730,000, a decrease of 111,000 from the previous week's revised level of 841,000.Economists had expected jobless claims to drop to 838,000 from the 861,000 originally reported for the previous week.With the much bigger than expected decrease, jobless claims fell to their lowest level since hitting 716,000 in the week ended November 28th.The Commerce Department also released a report showing new orders for U.S. manufactured durable goods spiked by much more than expected in the month of January.The report said durable goods orders soared by 3.4 percent in January after jumping by an upwardly revised 1.2 percent in December.Economists had expected durable goods orders to surge up by 1.1 percent compared to the 0.5 percent increase that had been reported for the previous month.Excluding a sharp increase in orders for transportation equipment, durable goods orders still jumped by 1.4 percent in January after spiking by an upwardly revised 1.7 percent in December.Ex-transportation orders had been expected to climb by 0.7 percent, matching the increase that had been reported for the previous month.A separate report released by the Commerce Department showed U.S. gross domestic product jumped by slightly more than originally estimated in the fourth quarter of 2020.The Commerce Department said GDP surged up by 4.1 percent in the fourth quarter compared to the previously reported 4.0 percent spike. The upward revision matched economist estimates.The intraday spike by yields came just as the Treasury Department revealed this month's auction of $62 billion worth of seven-year notes attracted well below average demand.The seven-year note auction drew a high yield of 1.195 percent and a bid-to-cover ratio of 2.04, while the ten previous seven-year note auctions had an average bid-to-cover ratio of 2.42.The bid-to-cover ratio is a measure of demand that indicates the amount of bids for each dollar worth of securities being sold. Earlier this week, the Treasury revealed its auctions of $60 billion worth of two-year notes and $61 billion worth of five-year notes also attracted below average demand.Another batch of economic data may impact trading on Friday, with traders likely to keep an eye on reports on personal income and spending, consumer sentiment, and Chicago-area business activity.The material has been provided by InstaForex Company - www.instaforex.com
New Zealand had a merchandise trade deficit of NZ$626 million in January, Statistics New Zealand said on Friday - following the NZ$69 million surplus in December.Exports were down NZ$486 or 10 percent on year to NZ$4.19 billion, down from NZ$5.38 billion in the previous month.Imports slid NZ$256 million or 5.0 percent on year to NZ$4.82 billion, down from NZ$5.32 billion a month earlier.For the year to January, exports fell NZ$775 million or 1.3 percent to NZ$59 billion and imports lost NZ$7.4 billion or 12 percent to NZ$57 billion. The annual trade surplus was NZ$2.7 billion.The material has been provided by InstaForex Company - www.instaforex.com
The U.S. dollar stayed weak for much of the day's session till well past noon on Thursday, weighed down by the Federal Reserve Chairman Jerome Powell's reiteration that interest rates will remain near-zero level for the foreseeable future. However, the currency found some support past mid afternoon and turned in a mixed performance against other major currencies. A report released by the Labor Department showed initial jobless claims tumbled to 730,000, in the week ended February 20th, a decrease of 111,000 from the previous week's revised level of 841,000.According to a report from the Commerce Department, new orders for U.S. manufactured durable goods spiked by much more than expected in the month of January, soaring 3.4% after jumping by an upwardly revised 1.2% in December.Revised data released by the Commerce Department showed U.S. gross domestic product jumped 4.1% in the fourth quarter, compared to previously reported 4.0% spike.The dollar index, which slid to 89.68, rallied to 90.29 later on, and was last seen at 90.24, up 0.07% from previous close.Against the Euro, the dollar was slightly weak at 1.2176, despite having recovered well from 1.2243 a unit of Euro. Survey results from the European Commission showed that Eurozone economic confidence improved to a one-year high in February on rising sentiment in industry, services and among consumers, reflecting the easing of strict restrictions related to Covid-19 pandemic.The economic sentiment index rose more-than-expected to 93.4 from 91.5 in the previous month. The score was forecast to climb to 92 in FebruaryThe Pound Sterling slid against the greenback, and was fetching $1.4010 a unit, nearly 1% down from previous close of $1.4141. Business optimism improved among U.K. business and professional services in the three months to February, while morale weakened in consumer services, the latest quarterly Service Sector Survey from the Confederation of British Industry showed.The Yen firmed up to 106.24, gaining nearly 0.4%. The AUD-USD was at 0.7878, giving the dollar a gain of about 1.1%.The Swiss franc firmed up to 0.9051 from 0.9065, while the Loonie fell to 1.2606, giving up about 0.75%.The material has been provided by InstaForex Company - www.instaforex.com
Tokyo Overall Inflation -0.3% On Year In February; Core CPI -0.3% The material has been provided by InstaForex Company - www.instaforex.com
Japan is scheduled to release a batch of data on Friday, headlining a busy day for Asia-Pacific economic activity. On tap are January figures for industrial production, retail sales, housing starts and construction orders - as well as February figures for Tokyo inflation.In December, industrial production was down 1.0 percent on month and 2.6 percent on year, while retail sales shed 0.8 percent on month and 0.3 percent on year. Housing starts were down an annual 9.0 percent and construction orders fell 1.3 percent on year. Overall Tokyo inflation was down 0.5 percent on year, while core CPI sank an annual 0.9 percent.New Zealand will provide January numbers for imports, exports and trade balance. In December, imports were worth NZ$5.33 billion and exports were at NZ$5.35 billion for a trade surplus of NZ$17 million.Australia will see January data for private sector credit; in December, credit was up 0.3 percent on month and 1.8 percent on year.Singapore will provide January numbers for bank lending, industrial production and producer prices. In December, bank lending was at SGD678.7 billion, while industrial production was up 2.4 percent on month and 14.3 percent on year and producer prices fell 6.9 percent on year.Taiwan will release Q4 figures for current account; in the three months prior, the current account surplus was $28.65 billion.Thailand will see January figures for unemployment; in December, the jobless rate was 1.5 percent.Finally, the markets in Thailand are closed on Friday for Makha Bucha Day and will re-open on Monday. The material has been provided by InstaForex Company - www.instaforex.com
The value of retail sales in Japan was down a seasonally adjusted 0.5 percent on month in January, the Ministry of Economy, Trade and Industry said on Friday - coming in at 12.097 trillion yen.That beat expectations for a fall of 0.6 percent following the 0.8 percent decline in December.On a yearly basis, retail sales dropped 2.4 percent - again exceeding expectations for a fall of 2.6 percent after the 0.2 percent dip in the previous month.Wholesale sales were up 2.1 percent on month and down 5.3 percent on year at 29.402 trillion yen, while commercial sales rose 0.5 percent on month and sank 4.7 percent on year at 41.499 trillion yen. The material has been provided by InstaForex Company - www.instaforex.com
Industrial production in Japan was up a seasonally adjusted 4.2 percent on month in January, the Ministry of Economy, Trade and Industry said on Friday.That beat expectations for an increase of 4.0 percent following the 1.0 percent decline in December.On a yearly basis, industrial production dropped 5.3 percent - roughly in line with forecasts after slipping 2.6 percent in the previous month.Upon the release of the data, the METI upgraded its assessment of industrial production, saying that it is now picking up. The material has been provided by InstaForex Company - www.instaforex.com
Japan Retail Sales -0.5% On Month, -2.4% On Year In January The material has been provided by InstaForex Company - www.instaforex.com
Japan Industrial Production +4.2% On Month, -5.3% On Year In January The material has been provided by InstaForex Company - www.instaforex.com
Overall consumer prices in the Tokyo region of Japan - considered a leading indicator for the nationwide trend - were down 0.3 percent on year in February, the Ministry of Internal Affairs and Communications said on Friday.That followed the 0.5 percent decline in January.Core CPI, which excludes volatile food prices, also was down an annual 0.3 percent versus expectations for a fall of 0.4 percent - which would have been unchanged from the previous month.On a seasonally adjusted monthly basis, overall inflation was up 0.1 percent and core CPI was flat. The material has been provided by InstaForex Company - www.instaforex.com
Australia Private Sector Credit +0.2% On Month, +1.7% On Year In January The material has been provided by InstaForex Company - www.instaforex.com
Industrial output in Japan was up a seasonally adjusted 4.2 percent on month in January, the Ministry of Economy, Trade and Industry said on Friday.That beat expectations for an increase of 4.0 percent following the 1.0 percent decline in December.On a yearly basis, industrial production dropped 5.3 percent - roughly in line with forecasts after slipping 2.6 percent in the previous month.Upon the release of the data, the METI upgraded its assessment of industrial production, saying that it is now picking up.Industries that contributed to the increase included business oriented machinery, electronic parts and electrical machinery - offset by declines among transport equipment and petroleum products.Shipments were up 3.2 percent on month and down 5.1 percent on year, while inventories fell 0.2 percent on month and 10.5 percent on year. The inventory ratio was down 6.3 percent on month and 4.8 percent on year.According to the METI's forecast of industrial production, output is expected to rise 2.1 percent on month in February and then fall 6.1 percent in March.Industries contributing to the increase in February include production machinery, chemicals and electronic parts. Industries contributing to the decline in March include production machinery, electronic parts and business oriented machinery.Also on Friday:.The METI also said that the value of retail sales in Japan was down a seasonally adjusted 0.5 percent on month in January, coming in at 12.097 trillion yen. That beat expectations for a fall of 0.6 percent following the 0.8 percent decline in December.On a yearly basis, retail sales dropped 2.4 percent - again exceeding expectations for a fall of 2.6 percent after the 0.2 percent dip in the previous month.Wholesale sales were up 2.1 percent on month and down 5.3 percent on year at 29.402 trillion yen, while commercial sales rose 0.5 percent on month and sank 4.7 percent on year at 41.499 trillion yen..The Ministry of Internal Affairs and Communications said that overall consumer prices in the Tokyo region of Japan - considered a leading indicator for the nationwide trend - were down 0.3 percent on year in February, following the 0.5 percent decline in January.Core CPI, which excludes volatile food prices, also was down an annual 0.3 percent versus expectations for a fall of 0.4 percent - which would have been unchanged from the previous month.On a seasonally adjusted monthly basis, overall inflation was up 0.1 percent and core CPI was flat. The material has been provided by InstaForex Company - www.instaforex.com