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  • *Finland April CPI Up 2.1% Y/Y, 0.4% M/M
    on May 14, 2021 at 7:02 am

    Finland April CPI Up 2.1% Y/Y, 0.4% M/M The material has been provided by InstaForex Company - www.instaforex.com

  • New Zealand Manufacturing Index Slows In April - BusinessNZ
    on May 14, 2021 at 1:39 am

    The manufacturing sector in New Zealand continued to expand in April, albeit at a slower pace, the latest survey from BusinessNZ revealed on Friday with a Performance of Manufacturing Index score of 58.4. That's down from 63.6 in March, although it remains well above the boom-or-bust line of 50 that separates expansion from contraction. Individually, production (64.5), employment (52.7), new orders (60.9), finished stocks (55.2) and deliveries (52.4) all were in expansion territory. "Firms' commentary to April's PMI noted improving conditions internationally, in addition to many global PMIs clearly pointing to economic activity expanding strongly in significant portions of the world right now," BNZ Senior Economist Craig Ebert said. The material has been provided by InstaForex Company - www.instaforex.com

  • *New Zealand Manufacturing PMI 58.4 In April - BusinessNZ
    on May 14, 2021 at 12:30 am

    New Zealand Manufacturing PMI 58.4 In April - BusinessNZ The material has been provided by InstaForex Company - www.instaforex.com

  • South Korea Export Prices Climb 10.6% On Year In April
    on May 14, 2021 at 12:05 am

    Export prices in South Korea were up 10.6 percent on year in April, the Bank of Korea said on Friday - after rising 5.9 percent in the previous month. Import prices spiked an annual 15.0 percent in April after climbing 9.0 percent a month earlier. Individually, export prices for agricultural and marine products fell 4.2 percent on year and manufactured products jumped 10.7 percent. Import prices for raw materials skyrocketed an annual 51.3 percent, while intermediate goods prices jumped 11.3 percent, capital goods fell 5.4 percent and consumer goods were down 4.2 percent. On a monthly basis, export prices rose 2.2 percent and import prices fell 0.5 percent. The material has been provided by InstaForex Company - www.instaforex.com

  • Hong Kong GDP Data Due On Friday
    on May 14, 2021 at 12:00 am

    Hong Kong will on Friday release final Q1 numbers for gross domestic product, highlighting a light day for Asia-Pacific economic activity. In the previous reading, GDP was up 0.2 percent on quarter and down 3.0 percent on year. China will provide April figures for foreign direct investment; in March, FDI surged 39.9 percent on year. New Zealand will see April numbers for the Performance of Manufacturing Index from BusinessNZ; in March, the index score was 63.6. Finally, the markets in Malaysia and Indonesia remain closed for Eid-ul-Fitr. The material has been provided by InstaForex Company - www.instaforex.com

  • *South Korea Export Prices +10.6% On Year In April; Import Prices +15.0%
    on May 13, 2021 at 11:52 pm

    South Korea Export Prices +10.6% On Year In April; Import Prices +15.0% The material has been provided by InstaForex Company - www.instaforex.com

  • Dollar Mixed Against Other Major Currencies
    on May 13, 2021 at 11:19 pm

    The U.S. dollar turned in a mixed performance against its major counterparts on Thursday. The dollar had firmed up against rivals on Wednesday on speculation that the Federal Reserve might consider tightening its monetary policy in the foreseeable future to rein in inflation. Data released by the Labor Department on Wednesday showed U.S. inflation rate jumped to the highest in 13 years, beating forecasts. The monthly gauge rose the most since 2009, the data showed. Fed vice chair Richard Clarida said on Wednesday that the recent rise in prices could be temporary and it has not changed the central bank's stance of keeping monetary policy loose. In today's economic releases, the Labor Department data said its producer price index for final demand rose by 0.6% in April after jumping by 1% in March. Economists had expected producer prices to increase by 0.3%. The report also showed the annual rate of producer price growth accelerated to 6.2% in April from 4.2% in March, with prices showing the biggest annual increase since 12-month data were first calculated in November of 2010. Meanwhile, a separate report from the Labor Department showed first-time claims for U.S. unemployment benefits fell by more than expected in the week ended May 8th, dipping to 473,000, a decrease of 34,000 from the previous week's revised level of 507,000. Economists had expected jobless claims to edge down to 490,000 from the 498,000 originally reported for the previous week. The dollar index, which rose to 90.91 in the Asian session, dropped to 90.59 by mid morning, but recovered to 90.85 subsequently before paring some gains again. It was last seen at 90.72, up slightly from the previous close. Against the Euro, the dollar weakened to $1.2080, losing marginal ground. The Pound Sterling was slightly weak, fetching $1.4050 a unit. The Yen firmed up against the dollar, moving to 109.46 a dollar from Wednesday's close of 109.70. The Aussie was flat with the AUD-USD at 0.7729. The dollar was slightly weak against Swiss franc, and firmed up against the Loonie. The material has been provided by InstaForex Company - www.instaforex.com

  • Crude Oil Futures Settle Sharply Lower
    on May 13, 2021 at 9:22 pm

    Crude oil prices declined sharply on Thursday, weighed down by rising worries about outlook for energy demand and on news that Colonial Pipeline has resumed operations at its facilities. West Texas Intermediate Crude oil futures for June ended down by $2.26 or about 3.4% at $63.82 a barrel, the lowest settlement in about two weeks. Brent crude futures were down $2.44 or 3.52% at 66.88 a barrel a little while ago. Concerns over a disruption in the supply chain eased after the Colonial Pipeline Company announced that it was restarting pipeline operations and that the supply chain would "return to normal" sometime soon. The International Energy Agency (IEA) on Wednesday cut its global crude oil demand growth expectations for 2021, saying that the coronavirus crisis in many parts of Asia, particularly India, has clouded the outlook for consumption. The material has been provided by InstaForex Company - www.instaforex.com

  • Gold Futures Settle Slightly Higher
    on May 13, 2021 at 9:06 pm

    Gold prices rebounded after early weakness on Thursday and lifted the most active gold futures contract to a positive close after two successive days of losses, as the yield on long term U.S. Treasury Notes dropped a bit. The yield on 10-year U.S. Treasury Notes dropped to around 1.66% today. The dollar's slight advance limited gold's uptick. The dollar index, which fell to 90.59 from a high of 90.91, recovered subsequently to 90.85. Gold futures for June ended up by $1.20 or less than 0.1% at $1,824.00 an ounce, after falling to their lowest level in a week earlier in the session. Gold prices drifted lower earlier in the day as an acceleration in consumer inflation raised worries about whether the Fed will have to tighten its monetary policy sooner than it would like. Silver futures for July edged lower by $0.185 or about 0.7% at $27.059 an ounce, while Copper futures for July settled at $4.6905 per pound, down $0.0455 or 1% from the previous close. According to a report from the Labor Department, first-time claims for U.S. unemployment benefits fell by more than expected in the week ended May 8th, dipping to 473,000, a decrease of 34,000 from the previous week's revised level of 507,000. Economists had expected jobless claims to edge down to 490,000 from the 498,000 originally reported for the previous week. With the bigger than expected decrease, jobless claims once again fell to their lowest level since hitting 256,000 in the week ended March 14, 2020. Another report from the Labor Department said its producer price index for final demand rose by 0.6% in April after jumping by 1% in March. Economists had expected producer prices to increase by 0.3%. The report also showed the annual rate of producer price growth accelerated to 6.2% in April from 4.2% in March, with prices showing the biggest annual increase since 12-month data were first calculated in November of 2010. The material has been provided by InstaForex Company - www.instaforex.com

  • U.S. Producer Prices Rise 0.6% In April, More Than Expected
    on May 13, 2021 at 3:47 pm

    After yesterday's report showing much faster than expected consumer price growth, the Labor Department released a report on Thursday showing producer prices also increased by more than expected in the month of April. The Labor Department said its producer price index for final demand rose by 0.6 percent in April after jumping by 1.0 percent in March. Economists had expected producer prices to increase by 0.3 percent. The report also showed the annual rate of producer price growth accelerated to 6.2 percent in April from 4.2 percent in March, with prices showing the biggest annual increase since 12-month data were first calculated in November of 2010. About two-thirds of the monthly advance in producer prices can be traced to a 0.6 percent increase in prices for final demand services. The index for final demand goods also moved up by 0.6 percent. Excluding prices for food, energy, and trade services, core producer prices, increased by 0.7 percent in April after climbing by 0.6 percent in March. Core prices were expected to rise by 0.4 percent. The Labor Department said core producers were up by 4.6 percent compared to the same month a year ago, reflecting the largest advance since 12-month data were first calculated in August 2014. "We expect upward price pressures to persist in the near term before supply constraints are resolved and base effects fade," said Mahir Rasheed, Associate US Economist at Oxford Economics. "Since we believe much of the acceleration in inflation will be transitory, we share the Fed's view that this isn't the start of an upward inflationary spiral," he added. "We look for the pace of inflation to gradually cool heading into 2022." On Wednesday, the Labor Department released a separate report showing U.S. consumer prices increased by much more than expected in the month of April. The Labor Department said its consumer price index climbed by 0.8 percent in April after rising by 0.6 percent in March. Economists had expected consumer prices to inch up by 0.2 percent. Excluding food and energy prices, core consumer prices also advanced by 0.9 percent in April following a 0.3 percent uptick in March. Core prices were expected to rise by another 0.3 percent. With the much bigger than expected monthly increase, consumer prices in April were up by 4.2 percent compared to the same month a year ago, reflecting the biggest jump since September of 2008. Core consumer prices surged up by 3.0 percent year-over-year, marking the biggest annual increase since January of 1996. The material has been provided by InstaForex Company - www.instaforex.com

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  • Sotheby's to accept cryptocurrency for Banksy's artworks
    on May 14, 2021 at 7:54 am

    Cryptocurrencies are gradually being accepted as a means of payment. Tesla has recently started accepting payments in bitcoin. Now Sotheby's, the world's largest auction house, has announced it will sell artworks for cryptocurrency."With the growing adoption of digital art and NFTs, along with our increased focus on digital innovation, we've seen an increasing appetite among collectors for more seamless payment options," Stefan Pepe, Sotheby's chief technology officer, said. The first painting to be purchased for cryptocurrency will be the legendary British artist Banksy’s iconic artwork "Love is in the Air". Notably, bets will also be accepted in USD, bitcoin, and ether.Banksy's artworks are in high demand. In 2019, one of the author's paintings was sold for a record $12.2 million at Sotheby's in London. The final cost turned out to be six times higher than the initial one."As one of the most famous and provocative artists of the 21st century, whose street art interventions and studio practice has continually pushed boundaries and caused controversy the world over with the artist’s signature brand of political and social commentary, Banksy is the disruptor par excellence of the art world," the organizers noted, adding that "by offering collectors the opportunity to acquire Love is in the Air with cryptocurrency, Sotheby’s honors Banksy’s legacy" as an artist.The material has been provided by portal MT5.com - www.mt5.com

  • China ramps up control of tech sector
    on May 14, 2021 at 6:55 am

    China, long distrustful of the prosperous tech sector, is moving assertively to bring it to heel. According to The Wall Street Journal, the Chinese government is considering new measures on how to exert tighter control on leading national tech companies. Supposedly, some corporations will have to disable payment systems from their apps.Among the companies that are subject to the new restrictions will be 13 Chinese large firms, primarily Tencent with the WeChat messenger, ByteDance (owner of TikTok), and car-sharing firm Didi.The market watchdog is sure that these IT giants pose a threat to the country's national security. One of the reasons for the total control was the issuance of loans by these organizations, not supported by a banking license. In addition, tech corporations have access to their users' personal data as they obtain information from their own payment systems.The Chinese authorities stress that all 13 companies have agreed to the proposed restrictions. They are ready to adjust their work to meet the requirements. The heads of the IT giants did not comment on the situation.The Wall Street Journal believes that these measures are unprecedented in terms of control over Internet business.The material has been provided by portal MT5.com - www.mt5.com

  • UBS loses $774 million form Archegos Capital’s implosion
    on May 14, 2021 at 6:46 am

    Swiss bank UBS has lost a huge sum of money and Archegos Capital is to blame. The Swiss bank giant took a $774 million hit from the collapse of Archegos Capital, following the failure of the fund to meet its margin calls.All this had an adverse effect on the bank’s total performance. In the first quarter of the year, UBS’s net profit plunged by $434 million and investment banking pre-tax profit fell by 42%.On its official website, the bank reported a $774 million loss related to a default by a US-based client of its prime brokerage business.Archegos Capital’s problems started in March, giving a blow not only to Swiss bankers. Among the fund's clients were such large banks as Morgan Stanley, Deutsche Bank, Wells Fargo, Nomura, and Goldman Sachs. As a result, a $30 billion selling spree was arranged by the giants. They had to do so since Archegos Capital accumulating large positions in various companies had announced a default on margin commitments. The fund had large stakes in Baidu, Discovery, Tencent, and GSX Techedu.The material has been provided by portal MT5.com - www.mt5.com

  • Venezuela to pay social benefits in state-backed cryptocurrency
    on May 13, 2021 at 3:25 pm

    According to Venezuela's President Nicolas Maduro, the government has to take unconventional measures to combat inflation. The head of state has suggested paying social benefits in the national cryptocurrency Petro.The President is confident that such a step will help enhance financial and economic stability in the country. In addition, this will make it possible to “petrolize” social payments to government employees, including representatives of the centralized and decentralized state administration as well as the public sector.Maduro believes that this measure will preserve the real value of social benefits amid hyperinflation. Notably, the inflation rate in Venezuela reached an enormous 2,959.8% in 2020. In this regard, the country's authorities are considering the indexation of basic wage levels in relation to the national cryptocurrency Petro. This measure is necessary to eradicate extreme poverty. The value of the national cryptocurrency depends on the prices of oil, gold, iron ore,and diamonds.However, it is rather difficult for the government to implement this project. It is still under consideration, while the inflation rate in the country continues to accelerate. Notably, between 2014 to 2020, Venezuela’s foreign exchange income plummeted by 98.6% due to US sanctions. Over the past seven years, the contributions of state oil and gas company PDVSA to the central bank have tumbled by more than 99%. Earlier, the corporation contributed $56.609 billion. Now, the amount has dipped to $73.4 million a year, analysts note.The material has been provided by portal MT5.com - www.mt5.com

  • ETH reaches new record highs
    on May 13, 2021 at 11:23 am

    On Monday, May 3, Ethereum (ETH) reached a new record high. On Sunday, May 2, the price of the second cryptocurrency hit $2,950.According to analysts, just in one day, the cryptocurrency advanced by 2%, whereas in the previous month, it showed an incredible 45% rise. At the moment, ether market capitalization exceeds $335 billion.Economists noted prerequisites for the active growth in the first month of the spring. Earlier, the altcoins’ dynamic directly depended on bitcoin. However, in March 2021, the situation changed significantly.At the beginning of the spring, the share of BTC in the crypto market declined to a three-year low, whereas in the currency market, its share slid to 46%. By the moment, bitcoin has depreciated to $56,500 from $64,000. Experts emphasize that when ether reached its all-time high, bitcoin was trading well above its peak price. The material has been provided by portal MT5.com - www.mt5.com