Singapore's non-oil domestic exports increased unexpectedly in April, data from Enterprise Singapore showed on Monday.
Non-oil domestic exports increased 9.7 percent year-on-year in April, confounding expectations for a decline of 5 percent. Nonetheless, the pace of growth eased from 17.6 percent logged in March. Electronic NODX fell by 0.6 percent, while non-electronic NODX gained 12.8 percent.
On a monthly basis, NODX declined 5.8 percent in April, after a 12.8 percent rise in the previous month.
NODX to the top markets grew in April, though exports to China, Hong Kong, Malaysia, Indonesia and Thailand declined. The largest contributors to the growth were the US, the EU 27 and Japan, data showed.
Producer price outputs in New Zealand were up 0.1 percent on quarter in the first quarter of 2020, Statistics New Zealand said on Tuesday - slowing from 0.4 percent in the three month prior.
Producer price inputs fell 0.3 percent on quarter after rising 0.1 percent in the previous three months.
On a yearly basis, outputs gained 2.2 percent and inputs were up 1.2 percent. Farm expenses price index (FEPI) were flat on quarter and up 1.0 percent on year, while capital goods price index (CGPI) rose 0.6 percent on quarter and 2.9 percent on year.
Salaries and wages rose 0.3 percent on quarter and 2.5 percent on year.
Core machine orders in Japan slid a seasonally adjusted 0.4 percent on month in March, the Cabinet Office said on Wednesday - standing at 854.7 billion yen.
That beat expectations for a tumble 0.7.1 percent following the 2.3 percent increase in February.
On a yearly basis, core machine orders sank 0.7 percent - again beating forecasts for a all of 9.5 percent following the 2.3 percent drop in the previous month.
The total value of machinery orders received by 280 manufacturers operating in Japan increased by a seasonally adjusted 3.0 percent on month and 0.9 percent on year in March at 2,289.0 billion yen.
Manufacturing orders fell 8.2 percent on quarter and 3.2 percent on year, while non-manufacturing orders added 5.3 percent on quarter and 0.9 percent on year.
Government orders surged 17.1 percent on month and 66.5 percent on year, while orders from overseas fell 1.3 percent on month and 14.4 percent on year. Orders through agencies sank 3.3 percent on month and 5.8 percent on year.
For the first quarter of 2020, core machine orders slid 0.7 percent on quarter and 1.0 percent on year. Total machine orders gained 3.9 percent on quarter and fell 0.7 percent on year in Q1.
Manufacturing orders added 1.8 percent on quarter and lost 3.4 percent on year in Q1, while non-manufacturing orders fell 5.1 percent on quarter and rose 0.6 percent on year.
Government orders soared 25.5 percent on quarter and 45.0 percent on year, while orders from overseas gained 8.7 percent on quarter and lost 8.7 percent on year. Orders through agencies gained 3.6 percent on quarter and fell 4.1 percent on year.
Core machine orders are now predicted to fall 0.7 percent on quarter in Q2 and 10.4 percent on year.
Malaysia Consumer Prices Fall More-Than-Expected In April
Malaysia's consumer prices declined more-than-expected in April, figures from the Department of Statistics revealed on Wednesday.
The consumer price index declined 2.9 percent year-on-year in April, following a revised 0.2 percent decrease in March. Economists had expected a 1.6 percent fall. This was the second consecutive fall in prices.
Among the main components, prices for transport declined 21.5 percent annually in April and housing, water, electricity, gas and other fuels decreased by 2.2 percent.
Meanwhile, cost of food and non-alcoholic beverages rose 1.2 percent and prices for miscellaneous goods and services grew 2.3 percent. Cost for health and education rose by 1.2 percent, each.
On a month-on-month basis, consumer prices fell 2.7 percent in April.
The core consumer price inflation held steady at 1.3 percent in April.
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.
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.
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.
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.
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.
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.
Forex Forum mt5.com – Introduction.
Forex market is high-yield and risky
mean of taking profit by operations with the currency rates. Instruments
of work at Forex market in many ways determine the result of currency
trading made by Forex market participants – brokers’ clients. Every
Forex broker offers its own terminal, however the most part of brokers
and traders concur in choosing MetaTrader 4 and MetaTrader 5 terminals.
This forum is created for those who prefer the terminal of MetaTrader
series in trading on Forex.
Forex Forum mt5.com – trade discussion.
Forex market forecasts, independent
opinions of novice traders and experts of the currency market – all
this you will find at the Forex-forum of trades discussion. Solid experience
of work on Forex is preferable, but all comers including Forex-newbies
may come and share their opinion as well. Mutual help and dialog –
the main goal of communication at Forex-forum, devoted to trading.
Forex Forum mt5.com – dialog with
brokers and traders (about brokers).
If you have negative or positive experience
of work with Forex broker – share it at Forex Forum, related to the
questions of Forex service quality. You can leave a comment about your
broker telling about advantages or drawbacks of work at Forex with it.
The aggregate traders’ reviews of brokers constitute a rating. In
this rating you can see the leaders and outsiders of the Forex services
Free discussions at the Forex Forum
You are a trader and want to relax?
Then Forex Forum for free discussions is for you. There are no doubts
that conversation on subjects close to Forex market is preferential.
Here you will find jokes about traders, caricature of Forex brokers
and full-rate Forex off top.
Bonuses for communication at Forex
This forum is created by traders for
traders and is meant for deriving of profit. However, each post at the
Forex forum gives its author a forex bonus, which can be used in Forex trading
at the account opened with one of the forum’s sponsors. This small
gift is presented with the aim to reward professional traders for spent
time at our forum.
We appreciate your choice of Forex
forum mt5.com as a platform for communication.