New Zealand Food Costs Advance 0.7% In July

By | August 13, 2018

Food costs in New Zealand were up 0.7 percent on month in July, Statistics New Zealand said on Monday – up from 0.5 percent in June.

Individually, fruit and vegetable rates rose 2.4 percent, while meat, poultry, and fish costs rose 0.1 percent, grocery food prices increased 0.3 percent, non-alcoholic beverage rates rose 1.8 percent and restaurant meals and ready-to-eat food costs rose 0.4 percent.

“Lettuce costs are now at their greatest given that the series began, and 2.5 percent higher than their previous peak in Might 2017,” customer costs manager Geraldine Duoba said. “July was wet and particularly cold in the North Island where a lot of our lettuce is grown.”

On a yearly basis, food rates jumped 1.1 percent after increasing just 0.2 percent in the previous month.

Separately, fruit and vegetable prices reduced 1.4 percent, while meat, poultry, and fish rates increased 0.3 percent, grocery food costs were flat, non-alcoholic beverage prices increased 4.0 percent and restaurant meals and ready-to-eat food costs increased 3.2 percent.

“Big seasonal changes in fruit and vegetable rates tend to lead month-to-month food price motions,” Duoba stated. “However cost boosts for restaurant meals and ready-to-eat food have been consistent and led yearly food price inflation this year.”

After seasonal modification, food costs rose 0.6 percent.

On Monday, BusinessNZ stated that the services sector in New Zealand picked up steam in July with a PMI rating of 55.1.

That’s up from the downwardly revised reading of 52.7 in June (originally 52.8), and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

The product has been provided by InstaForex Company – www.instaforex.com

Jonathon Alexander

New Zealand Food Costs Climb 0.7% In July

By | August 13, 2018

Food prices in New Zealand were up 0.7 percent on month in July, Data New Zealand stated on Monday – up from 0.5 percent in June.

Veggie prices rose 9.2 percent in the month, with greater rates for fresh lettuce (up 77 percent), tomatoes (up 30 percent), and broccoli (up 24 percent) making the biggest contributions.

On a yearly basis, food rates jumped 1.1 percent after increasing just 0.2 percent in the previous month.

The product has actually been offered by InstaForex Company – www.instaforex.com

Jonathon Alexander

Crude Oil Settles Greater After IEA Raises Need Projection

By | August 10, 2018

Petroleum rates climbed up higher on Friday, lifted by International Energy Company’s forecast that world oil need will increase by 110,000 barrels a day to 1.5 million barrels next year.

The IEA said in its regular monthly oil market report that preserving the world’s oil supply will be extremely tough, due to fresh U.S. sanctions against Iran.

The agency noted that there were threats to the demand projection from the intensifying trade dispute along with any rally in prices caused by supply restrictions.

According to reports, China has actually decided to get rid of crude oil from its newest tariff list. Baker Hughes reported today that the number of active U.S. rigs count increased by 10 to 869 for the week. Recently, rig count had visited 2.

Crude oil futures for September shipment ended up $0.82, or 1.3%, at $67.63 a barrel. On Thursday, oil futures ended down $0.13, or 0.2%, at $66.81 a barrel.

For the week, oil futures shed 1.3%, with concerns about most likely supply scarcity due to sanctions on Iran and disturbances in Libya and Venezuela.

Concerns that the U.S.-China trade war might injure worldwide economic growth and result in a drop in demand for crude too added to oil’s fall in recent sessions.

The product has actually been offered by InstaForex Business – www.instaforex.com

Jonathon Alexander

Treasuries Move Especially Higher Amidst Concerns About Turkey

By | August 10, 2018

Treasuries showed a strong move to the benefit throughout trading on Friday, extending the upward move seen in the previous session.

Bond costs moved higher early in the session and climbed up progressively as the day advanced. Consequently, the yield on the benchmark ten-year note, which moves reverse of its rate, tumbled by 7.8 basis points to 2.857 percent.

The strength among treasuries came in the middle of issues about rising tensions in between the United States and Turkey due to the Turkish detention of U.S. pastor Andrew Brunson.

The Turkish lira has shown a sharp decline to a record low, contributing to significant weakness in the overseas markets.

In response, Turkish President Recep Erdogan has actually advised Turks to offer dollars and gold and purchase the lira.

“There are numerous campaigns being carried out. Do not heed them,” Erdogan stated. “Remember, if they have their dollars, we have our individuals, our God.”

President Donald Trump subsequently announced that he has authorized the doubling of steel and aluminum tariffs on Turkey.

“I have simply authorized a doubling of Tariffs on Steel and Aluminum with regard to Turkey as their currency, the Turkish Lira, slides rapidly downward against our extremely strong Dollar!” Trump said in a post on Twitter.

The president added, “Aluminum will now be 20% and Steel 50%. Our relations with Turkey are bad at this time!”

In U.S. financial news, the Labor Department released a report revealing a modest increase in consumer costs in the month of July.

The Labor Department stated its consumer price index increased by 0.2 percent in July after inching up by 0.1 percent in June. The increase in costs matched economist quotes.

Excluding food and energy costs, the core consumer cost index likewise edged up by 0.2 percent in July, matching the increases seen in the two previous months along with expectations.

Next week’s trading may be impacted by response to reports on import and export costs, retail sales, industrial production, housing starts, and customer belief.

The product has actually been supplied by InstaForex Business – www.instaforex.com

Jonathon Alexander

Canadian Dollar Reinforces After Strong Jobs Data

By | August 10, 2018

The Canadian dollar surged up against its significant counterparts in the European session on Friday, as the economy developed more tasks than projection in July, while the out of work rate fell.

Data from Data Canada showed that the employment rose by 54,100 tasks in July, following an addition of 31,800 jobs in June. Economists were expecting a task development of 17,000.

The unemployment rate decreased by 0.2 portion points to 5.8 percent from 6 percent. The rate was forecast to be up to 5.9 percent.

Oil costs edged higher after the International Energy Agency raised its quote of world oil demand development next year by 110,000 barrels a day to 1.5 million barrels.

In its monthly oil market report, the IEA stated that the brand-new U.S. sanctions versus Iran could make maintaining the world’s oil supply ‘extremely challenging’.

Crude for September shipment rose $0.70 to $67.51 per barrel.

The loonie showed mixed trading against its major rivals in the Asian session. While it fell versus the greenback and the yen, it increased against the euro and the aussie.

The loonie spiked approximately 0.9527 against the aussie, a level not seen considering that June 2016. The loonie is likely to challenge resistance around the 0.94 level.

The Reserve Bank of Australia cut its near-term inflation forecast but broadly maintained its development forecasts.

In its quarterly Declaration on Monetary Policy, the projections for domestic output growth were broadly just like those provided in the May Declaration.

Having been up to more than a 2-week low of 1.3123 against the greenback at 4:15 am ET, the loonie reversed direction and bounced off to 1.3038. If the loonie rises further, 1.28 is most likely seen as its next resistance level.

Information from the Labor Department revealed that U.S. consumer costs showed a modest increase in the month of July.

The Labor Department said its consumer rate index increased by 0.2 percent in July after inching up by 0.1 percent in June. The increase in rates matched financial expert estimates.

The loonie firmed to 1.4921 versus the euro, its greatest given that May 30. On the benefit, 1.47 is potentially seen as the next resistance level for the loonie.

The loonie bounced off to 85.05 against the yen, from more than a 2-week low of 84.43 touched at 3:45 am ET. The next likely resistance for the loonie is seen around the 86.00 level.

Information from the Cabinet Office revealed that Japan’s gross domestic product broadened a seasonally adjusted 0.5 percent on quarter in the 2nd quarter of 2018.

That surpassed expectations for a boost of 0.3 percent following the 0.2 percent loss in the three months prior.

Looking ahead, U.S. monthly spending plan declaration for July is arranged for release at 2:00 pm ET.

The material has been offered by InstaForex Business – www.instaforex.com

Jonathon Alexander

Romania Inflation Alleviates In July

By | August 10, 2018

Romania’s customer price inflation reduced in July after staying stable in the previous month, figures from the National Institute of Statistics showed Friday.

Consumer prices climbed up 4.6 percent year-over-year in July, slower than the 5.4 percent boost in June. The procedure has actually been rising since January last year.

Costs of non-food items grew 6.2 percent yearly in July and those of foodstuff rose by 3.4 percent.

On a regular monthly basis, consumer costs decreased 0.5 percent in July.

In a separate report, the statistical workplace exposed that commercial production advanced a seasonally adjusted 6.7 percent yearly and by 1.6 percent month-to-month in June.

The product has been provided by InstaForex Company – www.instaforex.com

Jonathon Alexander

U.S. Consumer Prices Rise 0.2% In July, In Line With Estimates

By | August 10, 2018

Consumer prices in the U.S. showed a modest increase in the month of July, according to a report released by the Labor Department on Friday.

The Labor Department said its consumer price index rose by 0.2 percent in July after inching up by 0.1 percent in June. The increase in prices matched economist estimates.

The index for shelter rose by 0.3 percent in July and accounted for nearly 60 percent of the increase by the consumer price index.

Excluding food and energy prices, the core consumer price index also edged up by 0.2 percent in July, matching the increases seen in the two previous months as well as expectations.

Along with the shelter index, the indexes for used cars and trucks, airline fares, new vehicles, household furnishings and operations, and recreation all increased.

Compared to the same month a year ago, consumer prices in July were up by 2.9 percent, unchanged from the rate of growth seen in June.

The annual rate of growth in core consumer prices accelerated to 2.4 percent in July from 2.3 percent in the previous month. Core prices showed the fastest year-over-year growth since September of 2008.

“With economic growth strong and inflation overshooting, we expect the Fed to continue hiking interest rates once a quarter over the coming 12 months,” said Michael Pearce, Senior U.S. Economist at Capital Economics.

On Thursday, the Labor Department released a separate report showing producer prices unexpectedly came in unchanged in the month of July.

The Labor Department said its producer price index was unchanged in July after rising by 0.3 percent in June. Economists had expected producer prices to increase by 0.2 percent.

Excluding food and energy prices, the core producer price index inched up by 0.1 percent in July after climbing by 0.3 percent in the previous month. Core prices had been expected to rise by 0.2 percent.

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

Jonathon Alexander

Sweden Inflation Remains Steady In July

By | August 10, 2018

Sweden’s customer rate inflation held steady in July, after accelerating in the previous two months, data from Stats Sweden revealed Friday.

Customer costs climbed 2.1 percent year-over-year in July, the very same rate of increase as in June. The anticipated inflation rate was 2.0 percent.

On a month-to-month basis, consumer prices increased 0.5 percent from June, when it edged up by 0.2 percent.

The inflation rate inning accordance with the CPI with a set rate of interest was also stayed steady at 2.2 percent, in line with expectations. Month-on-month, CPIF increased 0.5 percent.

The product has actually been offered by InstaForex Company – www.instaforex.com

Jonathon Alexander