IFX Yana

European Economics Preview: German GfK Consumer Confidence Due Consumer confidence survey results from Germany and consumer spending from France are due on Friday. At 2.00 am ET, German GfK consumer confidence is due. The forward-looking indicator is forecast to remain unchanged at 5.9 points in May. In the meantime, Destatis is slated to publish German import prices for March. Import price inflation is seen slowing to 3.3 percent annually from 3.5 percent in February. At 2.45 am ET, the French statistical office Insee is scheduled to release consumer spending and producer price figures. Economists forecast consumer spending to fall 1.9 percent month-on-month in March. At the same time, producer price inflation is expected to drop to 4 percent in March from 4.3 percent in February. At 3.00 am ET, a slew of statistical reports are due from Spain. Spain's EU harmonized inflation is seen unchanged at 1.8 percent in April. For the first quarter, the jobless rate is forecast to rise to 23.8 from 22.8 percent in the prior quarter. Half an hour later, Statistics Sweden is scheduled to issue retail sales and trade balance for March. Retail sales are expected to drop 0.3 percent month-on-month after rising 1.2 percent a month ago. Economists predict the trade surplus to rise to SEK 7 billion from SEK 5.9 billion in February. At 4.00 am ET, Italy's retail sales figures are due. Retail sales are forecast to drop 0.2 percent month-on-month in February after rising 0.7 percent in January. In the meantime, Norway's retail sales data is also due. Italy plans to raise a maximum of EUR 6 billion from BTP auction. Results are due at 5.10 am ET. More FOREX-news on pages InstaForex.Com

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European Economics Preview: Eurozone Economic Sentiment Due Economic sentiment data from Eurozone is the major report on tap for Thursday, an otherwise light day for European economic news. Consumer confidence survey results from Statistics Finland is expected at 2 am ET. At 3.15 am ET, Sweden's National Institute of Economic Research is due to release the economic tendency survey report for April. At 3.30 am ET, Swedish producer price figures from Statistics Sweden is slated for release. At 4 am ET, Italian business sentiment data is due. Economists expect the sentiment index to remain unchanged in April. The Norwegian Labor and Welfare Organization is also due to announce the unemployment figures for this month at the same time. The British Bankers' Association is scheduled to publish mortgage approvals data for the month of March at 4.30 am ET. The number of mortgage approvals are expected to rise to 34,000 during the month. Euro area economic sentiment survey results from the European Commission is slated for release at 5 am ET. Economic confidence index is expected to fall only slightly to 94.2 in April from 94.4 in March. Italy is auctioning EUR 8.5 billion in six-month treasury bills at around 5 am ET. The Confederation of British Industry is due to publish the distributive trades survey at 6 am ET. German preliminary inflation data is expected at around 8 am ET. More FOREX-news on pages InstaForex.Com

European Economics Preview: U.K. GDP Data Due Quarterly national accounts from the U.K. is the major data that is set to dominate the scene on Wednesday. Spain's statistical office INE is set to publish producer prices for March. Producer prices had increased 3.4 percent year-on-year in February. At 4.00 am ET, the European Central Bank is scheduled to release bank lending survey results. In the meantime, Norges Bank's first quarter bank lending survey data is due. Poland's retail sales and unemployment reports are also due at 4.00 am ET. The jobless rate is seen falling to 13.4 percent in March from 13.5 percent in February. Retail sales growth is expected to drop to 10.5 percent from 13.7 percent a month ago. The Office for National Statistics is scheduled to release quarterly national accounts for the first quarter. Economists forecast the U.K. economy to expand 0.1 percent sequentially after contracting 0.3 percent in the fourth quarter of 2011. In the meantime, the U.K. index of services for three months ended February is due. Services output is expected to rise 0.5 percent from the prior three months. At 5.30 am ET, Germany's long-term debt auction results are due. The government aims to raise EUR 3 billion from the issue of bonds maturing on July 2044. The Confederation of British Industry is scheduled to release Industrial Trends survey data at 6.00 am ET. The order book balance is seen at -6 percent in April compared to -8 percent in March. More FOREX-news on pages InstaForex.Com

China Leading Index Suggests Continued Slowing Of Economy The Conference Board's leading indicator of China's economic activity went on to support continued slowing of the economy, with significant downside risks remaining. The Conference Board on Tuesday said that its leading economic index increased 0.8 percent in March to 230.6, slower than 1 percent increase in February and a 2.1 percent increase in January. "While the China LEI in March continued to increase and its six-month growth rate remained steady, this month's reading supports a continued slowing of the economy," Conference Board's resident economist Andrew Polk said. According to the economist, the volatility among leading indicators points to significant downside risks. Meanwhile, the diffusion index, which measures the balance among the rising and falling index components, also showed that risks are tilted towards the downside, highlighting the increasing fragility of China's economy, Polk said. The coincident economic index, which measures current economic activity, increased 0.6 percent in March to 219.1, following a 4 percent increase in February and a 3 percent decrease in January. More FOREX-news on pages InstaForex.Com

European Economics Preview: Eurozone PMI Data Due Flash results of Purchasing Managers' survey from major Eurozone economies are due on Monday. At 2.45 am ET, the French statistical office Insee is scheduled to publish April business confidence survey results. The index is expected to remain unchanged at 96. Markit Economics is set to publish Purchasing Managers' survey data at 3.00 am ET. The French manufacturing PMI is seen rising to 47.2 in April from 46.7 a month ago. Likewise, the services PMI is forecast to rise to 50.2 from 50.1 in March. Half an hour later, German flash PMI figures are due. The manufacturing PMI is expected to rise to 48.9 from 48.4 and the services PMI to improve to 52.4 from 52.1. At 4.00 am ET, Markit is expected to issue Eurozone flash PMI. The composite PMI is seen rising to 49.3 in April from 49.1 a month ago. In the meantime, Italy's consumer confidence for April is due. Eurostat is slated to release Eurozone government debt-GDP data for 2011 at 5.00 am ET. More FOREX-news on pages InstaForex.Com

European Economics Preview: German Ifo Business Confidence Forecast To Fall Business confidence from Germany and retail sales from the U.K. are the major reports due on Friday. At 2.00 am ET, the Federal Statistical Office is set to release German producer prices for March. Producer price inflation is seen easing to 3.1 percent in March from 3.2 percent in February. On a monthly basis, producer price inflation is seen at 0.4 percent. Dutch consumer spending and consumer confidence are due from Statistics Netherlands at 3.30 am ET. The Munich-based Ifo institute is slated to publish German business confidence survey results at 4.00 am ET. The business sentiment index is seen easing to 109.5 in April from 109.8 a month ago. The current assessment index is expected to fall to 117. Half an hour later, U.K. retail sales figures are due. Economists forecast retail sales to rise 0.4 percent month-on-month in March after easing 0.8 percent in February. Poland's net consumer price inflation data is due at 8.00 am ET. Annual inflation is seen falling to 2.5 percent in March from 2.6 percent in February. More FOREX-news on pages InstaForex.Com

European Economics Preview: Spanish Debt Auction In Focus Spanish debt auction is set to dominate the European economic news on Thursday amid widespread concerns that the country may be forced to seek an international bailout after its borrowing costs surged close to levels widely seen as unsustainable at an auction on April 11. At 3 am ET, the Hungarian Central Statistics office is expected to release the data on average gross wages for the month of February. Economists expects an annual increase of 6 percent. Unemployment data from the Netherlands is due at 3.30 am ET. At 4 am ET, Italian statistical office is expected to publish industrial orders' statistics for February. Orders are forecast to decline 6.2 percent year-on-year and 1.1 percent month-on-month amid waning demand from Europe. At 4.30 am ET, Spain is set to auction around EUR 2.5 billion in two and 10-year bonds. The yield on benchmark 10-year bond rose to above 6 percent on April 11, but fell back on Tuesday. France is scheduled to auction securities including 2017 notes and 2018 inflation-linked debt for a maximum target of EUR 11 billion at around 4.50 am ET and 5.50 am ET. Markets are also keen on France as it comes just days ahead of the first round of Presidential elections on Sunday. Industrial production and producer price index from Poland is expected at 8 am ET. Production is forecast to rise 4.4 percent annually in March, while producer price inflation is seen moderating to 4.8 percent. Flash consumer sentiment from Eurozone is slated for release at 10 am ET. The confidence index is expected to stay almost steady at -19. Consumer confidence index rose to -19.1 in March from -20.3 in the previous month. More FOREX-news on pages InstaForex.Com

Eurozone Current Account Swings To Deficit In February The Eurozone current account unexpectedly logged a seasonally adjusted deficit of EUR 1.3 billion in February, the European Central Bank said Wednesday. Economists were expecting the surplus to fall to EUR 2 billion from EUR 3.7 billion surplus seen in January. The surplus in goods account fell to EUR 1.5 billion in February from EUR 3.3 billion last month. Likewise, the balance in income declined sharply to EUR 1.2 billion from EUR 4.2 billion. Meanwhile, the surplus in services rose to EUR 4.7 billion from EUR 4.1 billion. The deficit in current transfers totaled EUR 8.7 billion compared to a shortfall of EUR 7.9 billion a month ago. The 12-month cumulated seasonally adjusted current account registered a surplus of EUR 2.1 billion in February, which was less than 0.1 percent of euro area GDP, compared with a deficit of EUR 18.1 billion a year earlier. More FOREX-news on pages InstaForex.Com

European Economics Preview: German ZEW Survey, UK Inflation Data Due Economic sentiment from Germany and consumer price inflation from the U.K. are the major reports due on Tuesday. At 2.00 am ET, European Automobile Manufacturers' Association, or ACEA is slated to release new car registrations for March. Registrations were down 9.7 percent year-on-year in February. At 4.30 am ET, the Office for National Statistics is slated to release U.K. inflation data for March. Annual inflation is expected to remain steady at 3.4 percent. At the same time, retail price inflation is seen easing to 3.6 percent from 3.7 percent in February. Spain's government aims to raise between EUR 2 billion and EUR 3 billion from the auction of short-term bills. Spain plans to issue 12 and 18 months Treasury bills. Germany's ZEW economic sentiment survey results are due at 5.00 am ET. Economists forecast sentiment to drop to 19 in April from 22.3 in March. In the meantime, Eurostat is set to release final HICP figures for March. According to flash estimate, Eurozone annual inflation fell to 2.6 percent in March from 2.7 percent in February. Italy's current account data for February is also due at 5.00 am ET. The current account deficit totaled EUR 7.95 billion in January. More FOREX-news on pages InstaForex.Com

Hello! Recently NFA has imposed strict limits on the commodity and futures trading such as 1:50 leverage, no hedging, etc. As a consequence, U.S. citizens started trading with foreign brokerage companies. Of course, such situation could not be accepted by the government, and keeping with the best traditions of democracy, it took the resistance measures. At present brokers that do not have NFA license (and as a consequence, do not accept such enormous limits) are not able to serve the U.S. citizens. In such a way a kind of power balance was reached between the parties. Please specify, why do you think so? Do you have any proofs for your words?

Bank Of Korea Cuts 2012 GDP Growth Forecast South Korea's central bank on Monday lowered its forecast for economic growth this year due to weaker-than-expected world economic growth and higher oil import prices. Bank of Korea said it expects the gross domestic product to rise 3.5 percent this year, weaker than the 3.7 percent growth forecast in December. For 2013, growth is projected at 4.2 percent. Export growth is forecast to slow somewhat, owing to the cooling of world trade growth amid recession in the euro area, the bank said. Export growth is expected to ease to 4.8 percent this year from 10.5 percent last year. The latest estimate is also slightly weaker than the December forecast of 5 percent. On the other hand, private consumption is expected to accelerate to 2.8 percent from 2.3 percent in 2010. This was, nonetheless, lower than the December forecast of 3.2 percent due mainly to deteriorating terms of trade and sluggish fourth quarter performance last year. The rate of increase in the headline consumer price index is forecast to stand at 3.2 percent in 2012, lower than the previous forecast of 3.3 percent. For 2013, headline CPI is forecast to rise 3.1 percent. The CPI excluding agricultural and petroleum products is projected to rise 2.6 percent in 2012, slower than earlier forecast of 3.3 percent. The index excluding food and energy is expected to rise 2.2 percent, also down from 2.7 percent forecast earlier. The unemployment rate is projected at around 3.3 percent for 2012 and 2013, lower than last year's 3.4 percent. More FOREX-news on pages InstaForex.Com

European Economics Preview: U.K. Producer Price Data Due Producer prices from the U.K. and final inflation from Germany are the major statistical reports due on Friday, headlining a light day for the European economic news. The Federal Statistical Office is set to release final Germany inflation data at 2.00 am ET. According to preliminary data, the harmonized index of consumer prices increased 2.3 percent on an annual basis in March, slower than the 2.5 percent growth seen in February. In the meantime, Statistics Finland is scheduled to publish consumer price figures for March. In February, annual inflation slowed to 3.1 percent from 3.2 percent in January. At 3.00 am ET, final inflation figures from Spain and industrial production from Hungary are due. Flash estimate published on March 29 showed that EU harmonized inflation in Spain fell to 1.8 percent in March from 1.9 percent. Half an hour later, Dutch trade figures for February are due. At 4.00 am ET, Italy's statistical office is slated to release industrial production for February. Economists forecast production to drop 0.5 percent month-on-month after easing 2.5 percent in January. At 4.30 am ET, U.K. producer price data is due from the Office for National Statistics. Input price inflation is seen easing to 4.8 percent in March from 7.3 percent in February. At the same time, output price inflation is seen at 3.5 percent, down from 4.1 percent in the previous month. Italy's final inflation figures are due from the statistical office Istat at 5.00 am ET. According to preliminary estimate, inflation, measured by the harmonized index of consumer prices, rose to 3.8 percent in March from 3.4 percent in February. More FOREX-news on pages InstaForex.Com

U.S. Dollar Weakens On Bernanke Comments The U.S. dollar declined against most major currencies in early Asian deals on Tuesday after Federal Reserve Chairman Ben Bernanke said that the economy is "far from recovering from credit crisis." In a speech at the Federal Reserve Bank of Atlanta Financial Markets Conference, in Stone Mountain, Bernanke suggested that US economy is yet to fully recover from the impact of the global financial crisis. The greenback that closed yesterday's deals at 1.5894 against the pound and 0.9174 against the franc slipped to a new 1-week low of 1.5933 and a 5-day low of 0.9149, respectively. If the U.S. currency falls further, it may target 1.60 against the pound and 0.91 against the franc. House prices in the United Kingdom improved in March, according to survey results released by the Royal Institution of Chartered Surveyors (RICS). The RICS Home Price Balance for March was minus-10, compared to minus-13 in February Against the New Zealand and Australian dollars the greenback reached fresh 1-weeks lows of 0.8242 and 1.0359 from Monday's close of 0.8218 and 1.0316, respectively. The next downside target level for the greenback is seen at 0.83 against the kiwi and 1.04 versus the aussie. Activity in Australia's construction sector picked up slightly in March but remained in sharp contraction, according to survey results published today by the Australian Industry Group. AIG's Performance of Construction index for March was 36.2, an increase of 0.6 points from February. Also, Australia's business conditions improved modestly in March, along with a jump in confidence, a survey by the National Australia Bank (NAB) showed. The business conditions index rose to 4 in March from 3 in February. The business confidence index advanced to 3 from 1 in the previous month The U.S. currency dropped to a 5-day low of 1.3145 against the euro with 1.32 seen as the next downside target level. The pair closed Monday's deals at 1.3107. Looking ahead, Swiss unemployment rate for March, German trade data, French industrial production and U.K. DCLG house prices for February are due in the European session. At 10:00 am ET, U.S. wholesale inventories data for February is slated for release. More FOREX-news on pages InstaForex.Com

China Inflation Rebounds Beyond Expectations Inflation in China increased more than expected in March after easing to a twenty-month low in February, data from the National Bureau of Statistics showed Monday. The latest rise in inflation rate was mainly driven by rising food costs. Inflation rose to 3.6 percent in March from 3.2 percent in February. Economists had forecast an increase to 3.4 percent. Food inflation accelerated to 7.5 percent from 6.2 percent in the previous month, partly led by a 6.1 percent annual surge in costs of fresh vegetables. Last month, Premier Wen Jiabao set an inflation target of 4 percent for 2012, the same as that of 2011. Inflation exceeded the target every month last year due to higher food prices. The government hiked fuel prices for the second time in less than six weeks in March amid mounting pressure from the country's refineries to respond to the rising international crude prices. This might have added to inflationary pressures with China being the second-largest oil consumer after the U.S. The price index for transportation and communications rose to 0.3 percent, recovering from February's 0.4 percent fall. Utility costs advanced 2.6 percent year-on-year in March. The statistical office also noted that the house prices increased 2 percent from the previous year. Wen had pledged to continue property market curbs to rein in prices, which, according to him, are still far from "reasonable levels." In February, the People's Bank of China decided to cut the banks' reserve requirement rate by 50 basis points for the second time in three months to boost growth, but refrained from an interest rate reduction fearing inflation surge from possible spike in global fuel prices. Separately, the statistical office said that the producer price index fell 0.3 percent from March 2011. The outcome was in line with expectations and followed a flat reading in February. Prices have been falling steadily since July last year. The government targets 7.5 percent growth for the economy this year, lower than the previous target of 8 percent. The economic growth slowed to 9.2 percent in 2011 from 10.4 percent in 2010. More FOREX-news on pages InstaForex.Com

U.S. Employment Growth Slows In March Employment growth in the U.S. slowed to 5 percent on a yearly basis in March from 11 percent logged in February, Monster Worldwide said Friday. On a monthly basis, the employment index remained unchanged at 143 in March. The report showed that 16 of the 20 industries monitored by the index showed positive annual growth trends. Commerce activity continued to maintain steady momentum with transportation and warehousing, retail and wholesale trade recording solid annual growth rates. The employment index is a broad and comprehensive monthly analysis of U.S. online job demand conducted by Monster Worldwide based on a real-time review of millions of employer job opportunities culled from a large, representative selection of corporate career sites and job boards. More FOREX-news on pages InstaForex.Com

European Economics Preview: BoE Rate Decision In Focus The interest rate decision from the Bank of England is the major event that is set to dominate the scene on Thursday. The Federal Statistical Office is slated to issue Swiss consumer price data at 3.15 am ET. Economists expect consumer prices to fall 1.1 percent year-on-year in March, after easing 0.9 percent in February. At 3.30 am ET, Dutch inflation data for March is due. EU harmonized inflation remained unchanged at 2.9 percent in February. At 4.30 am ET, the Office for National Statistics is set to release U.K. industrial output figures. Industrial output is forecast to rise 0.4 percent on a monthly basis after falling 0.4 percent in January. Manufacturing output is expected to edge up 0.1 percent. The French government aims to raise a maximum of EUR 8.5 billion from the long-term bond auction. The results of the issue are due at 4.50 am ET. The Federal Ministry of Economy and Technology is scheduled to publish German industrial output at 6.00 am ET. Economists forecast industrial production to drop 0.5 percent month-on-month in February. The Bank of England is set to announce its monetary policy decision at 7.00 am ET. Policymakers are likely to maintain its GBP 325 billion bond purchases. The central bank is also seen holding its 0.050 percent record low interest rate. More FOREX-news on pages InstaForex.Com

Dollar Extends Rally Against Most Majors The U.S. dollar has been extending its New York session's rally against most major currencies in early Asian trading on Wednesday as the minutes of the Federal Reserve's latest monetary policy meeting indicated that the members were less willing to initiate another round of quantitative easing amid signs of improvement of the U.S. economy. The latest FOMC meeting minutes said only "a couple of members" indicated that additional stimulus could become necessary, compared to the minutes of the January meeting, which said "a few members" believed that conditions could warrant additional securities purchases. Disappointing trade data from Australia released in the session also prompted traders to bet on safe haven dollar. Australia's trade deficit fell to A$480 million from A$971 million in January, data from the Australian Bureau of Statistics showed. Economists had expected the balance to be in a surplus of A$1.1 billion. Exports fell 2 percent month-on-month in February. Imports were 4 percent lower than a month earlier. The dollar rose to near a 2-week high of 1.3185 against the euro and a 6-day high of 1.5875 against the pound, compared to yesterday's close of 1.3231 and 1.5914, respectively. The next upside target level for the dollar is seen at 1.315 against the euro and 1.585 against the pound. The dollar that closed yesterday's New York session at 0.9103 against the Swiss franc climbed to a 9-day high of 0.9136. On the upside, 0.920 is seen as the next target level for the dollar. Against the Canadian dollar, the US dollar strengthened to a 2-day high of 0.9932. If the greenback gains further, it will reach parity with the loonie. At yesterday's close, the greenback-loonie pair was quoted at 0.9911. The U.S. dollar advanced to a fresh 2- 1/2 -month high of 1.0265 against the Australian dollar and the next upside target level for the greenback is seen at 1.020. The pair ended yesterday's trading at 1.0332. The U.S. dollar edged up to a 6-day high of 0.8157 against the New Zealand dollar, compared to 0.8191 hit late New York Tuesday. On the upside, 0.814 is seen as the next target level for the U.S. currency. But the dollar pulled back slightly from its late New York session high of 83.0 against the yen. At present, the dollar-yen pair is worth 82.67, compared to yesterday's closing value of 82.87. The final services PMI report for March from major European economies, Eurozone retail sales and German factory orders - both for February are expected in the European session. At 7:45 am ET, the European Central Bank is due to announce its interest rate decision. The central bank is widely expected to keep rates on hold at 1 percent. The U.S. ADP National employment report and the ISM non-manufacturing index - both for March are scheduled for release in the New York morning session. More FOREX-news on pages InstaForex.Com

Full Text of Rba Statement After Leaving Rates unchanged at 4.25 Pct Full Text of RBA Statement after leaving rates unchanged at 4.25 pct Recent information is consistent with the expectation that the world economy will grow at a below-trend pace this year, but does not suggest that a deep downturn is occurring. Several countries in Europe will record very weak outcomes, but the US economy is continuing a moderate expansion. Growth in China has moderated, as was intended, and is likely to remain at a more measured and sustainable pace in the future. Conditions around other parts of Asia softened in 2011, partly due to natural disasters, but are not showing signs of further deterioration. Some moderation in inflation has allowed policymakers in the region to ease monetary policies somewhat. Commodity prices declined for a few months last year and are noticeably off their peaks, but have been relatively stable for a while now, at quite high levels. Australia's terms of trade have peaked, though they remain high. Financial market sentiment has generally continued to improve in recent weeks and capital markets are supplying funding to corporations and well-rated banks. At the margin, wholesale funding costs are tending to decline, though they remain higher, relative to benchmark rates, than in mid 2011. But the task of putting European banks and sovereigns onto a sound footing for the longer term remains large and Europe will remain a potential source of adverse shocks for In underlying terms, inflation was around 2½ per cent in 2011. CPI inflation was higher than that but will fall over the next quarter or two. It is currently expected that inflation will be in the 2-3 per cent range over the coming one to two years. This forecast abstracts from the effects of the carbon price and also embodies an assumption that productivity growth in the economy increases somewhat as a result of the structural change now occurring. At its next meeting, the Board will have the opportunity to reassess the outlook for inflation, taking into account not only data on demand and output but also forthcoming information on prices. The Board eased monetary policy late in 2011. Since then, its judgement has been that, with growth expected to be close to trend, inflation close to target and lending rates close to average, the setting of monetary policy was appropriate. The Board's view was also that, were demand conditions to weaken materially, the inflation outlook would provide scope for easier monetary policy. At today's meeting, the Board judged the pace of output growth to be somewhat lower than earlier estimated, but also thought it prudent to see forthcoming key data on prices to reassess its outlook for inflation, before considering a further step to ease monetary policy. More FOREX-news on pages InstaForex.Com

Moody's Lifts S. Korea's Rating Outlook Moody's Investors Service on Monday lifted the outlook on the Republic of Korea's rating, citing strong fiscal fundamentals and resilience in external financing position. The outlook on 'A1' government bond rating was revised to 'positive' from 'stable'. The agency said reduction in the banking sector's level of external vulnerability and the outlook for relatively strong trend GDP growth over the medium term also underpinned the upgrade. Nonetheless, rising household debt is a concern. If unchecked, this trend could impair bank asset quality and introduce a drag on private consumption expenditure as an important source of GDP growth, the agency assessed. Moody's last rating action on the Government of Korea was on April 14, 2010, when its government bond ratings were raised to 'A1' from 'A2'. More FOREX-news on pages InstaForex.Com

Australian Home Sales Rebound In February: HIA Australia's new home sales increased in February, recovering from the previous month's decline, data released by Housing Industry Association (HIA) showed Friday. The volume of new home sales increased a seasonally adjusted 3 percent on a monthly basis in February, recovering from January's decline. Detached house sales rose 2.2 percent during the month. The number of new detached house sales increased12.8 percent month-on-month in Western Australia, 5.3 percent in New South Wales, 3.5 percent in Queensland, and 0.3 percent in South Australia. At the same time, sales of multi-units climbed 10.5 percent in February. "In a contemporary economic environment where interest rate settings are too high, finance conditions persistently tight, consumer and business confidence too low, and plans to tighten fiscal policy inappropriate, it is hard to envisage a sustained recovery in new home sales in coming months,"HIA chief economist Harley Dale said. More FOREX-news on pages InstaForex.Com

Japan Retail Sales Growth Tops Expectations Retail sales in Japan increased more than expected in February, helped by strong demand for motor vehicles and fuel, data from the Ministry of Economy, Trade and Industry showed Thursday. Retail sales climbed 3.5 percent year-on-year in February, faster than the 1.8 percent increase in January and 1.4 percent growth expected by economists. A government subsidy for fuel-efficient cars is helping to boost domestic demand for vehicles. Motor vehicle sales jumped 21.4 percent following a 24.1 percent rise in January. Fuel sales at retail outlets climbed 4.8 percent, reversing a 0.8 percent drop in the preceding month. Sales of food and beverages rose 2.5 percent, faster than 0.6 percent rise recorded a month earlier. Meanwhile, retail trade in general merchandise and machinery and equipment suffered annual decreases of 0.2 percent and 15.9 percent respectively. On a month-on-month seasonally adjusted basis, total retail sales rose 2 percent in February. That again beat forecasts for a flat reading. Sales by large-scale retailers saw an increase of 0.2 percent year-on-year against expectations for a 0.3 percent contraction. Commercial sales fell 0.1 percent annually, while wholesale sales slipped 1.3 percent. During a speech in Tokyo on Wednesday, Bank of Japan board member Ryuzo Miyao said the recent pullback in yen and rise in share prices might have helped improve Japan's consumer confidence. Japan's economy contracted 0.7 percent annually in the fourth quarter. To support economic activity, the Bank of Japan expanded the size of its asset purchase by JPY 10 trillion to JPY 30 trillion in February. Also, during the March meeting, the central bank decided to expand its loan scheme aimed at supporting economic growth by JPY 2 trillion. More FOREX-news on pages InstaForex.Com

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Moody's Affirms Germany's AAA Rating; Outlook Stable Moody's Investors Service on Tuesday affirmed the AAA rating on German government bonds and said rating outlook remained 'stable' due to "very low event risk" despite the prolonged debt crisis. "Germany's Aaa government bond rating and stable outlook continue to be underpinned by the country's advanced and diversified economy, a strong tradition of stability-oriented macroeconomic policies and the economy's deep integration into global trade and capital markets, Moody's said in its annual credit report. Also, the agency was of the view that the country's economic, financial and political characteristics indicated "very low event risk" despite ongoing economic and financial uncertainties in the euro area. "High productivity growth and strong world demand for German products have allowed the country to build a broad economic foundation with ample flexibility, generating high income levels," the report said. Moody's said it determines a country's sovereign rating by assessing four key factors such as economic strength, institutional strength, government financial strength and susceptibility to event risk as well as the interplay between them. Germany continues to consistently achieve the highest scores for all four factors, according to the rating agency. However, bank-rescue operations by the government and an only moderate economic recovery are likely to continue to weigh on the country's public finances over the near to medium term, it cautioned. Nevertheless, the implementation of restrictive fiscal policies to rein in public debt and promote a robust economic recovery has helped to put the country on track to achieve a nearly balanced budget in 2012, according to Moody's. More FOREX-news on pages InstaForex.Com

European Economics Preview: German GfK Consumer Sentiment Data Due Consumer confidence survey results from Germany and Distributive Trades data from the U.K. are the major reports due on Tuesday. At 2.00 am ET, German GfK consumer confidence data is due. The consumer sentiment is expected to remain unchanged at 6 points in April. In the meantime, the Federal Statistical Office is set to publish German import prices. Economists forecast import price annual inflation to fall to 3.5 percent in February from 3.7 percent in January. The French statistical office Insee is slated to release consumer confidence survey data at 2.45 am ET. The sentiment index is forecast to remain unchanged at 82 in March. At 3.30 am ET, Statistics Netherlands is scheduled to issue final GDP figures for the fourth quarter. Also, Sweden's February producer prices and trade balance figures are due. Spain's short-term bill auction results are due at 5.30 am ET. The government aims to raise a maximum of EUR 1.75 billion from 3-month T-bill auction and EUR 1.25 billion from 6-month T-bill issue. At 6.00 am ET, the Confederation of British Industry is scheduled to release results of Distributive Trades survey. The retail sales balance is seen falling to -5 in March from -2 in February. More FOREX-news on pages InstaForex.Com