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CHILE: Unemployment Remains Stable At 7% Between April And June

Chile’s jobless rate remained stable at 7.0% during the second quarter of 2016 when compared to the previous quarter, the country’s statistics office said on Monday.

However, the unemployment rate is 0.1 percentage point (pp) higher than in the same quarter a year ago, a result of a lower increase in the number of employed people (+1.9%) than in the available workforce (+2.0%). The total number of jobless people was also up (+4.2%).

As in the previous month, the unemployment rate remained at the largest level since the quarter ended in July 2016, when unemployment hit 7.1% of the working age population.

The participation rate increased by 0.2 pp, while employment rate rose by 0.1, towards 59.6% and 55.4%, respectively. In absolute terms, the number of working people totaled 8,211,960, while the unemployed were 619,960. Chilean workforce totaled 8,831,920 people between April and June.

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

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Treasuries Close Roughly Flat Ahead Of Key Data

Treasuries showed a lack of direction over the course of the trading session on Monday ahead of the release of key economic data.

Bond prices spent the day bouncing back and forth across the unchanged line before closing roughly flat. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its prices, inched up by less than a basis point to 2.292 percent.

The choppy trading came as traders seemed reluctant to make significant moves ahead of the release of the monthly jobs report on Friday.

The report is expected to show employment climbed by 180,000 jobs in July, while the unemployment rate is expected to dip to 4.3 percent.

Reports on personal income and spending, manufacturing and service sector activity, and international trade are also likely to attract attention in the coming days.

On the U.S. economic front, the National Association of Realtors released a report showing pending home sales rebounded by more than expected in the month of June.

NAR said its pending home sales index jumped by 1.5 percent to 110.2 in June after falling to 108.6 in May. Economists had expected pending home sales to climb by 1.0 percent.

A pending home sale is one in which a contract was signed but not yet closed. Normally, it takes four to six weeks to close a contracted sale.

A separate report from MNI Indicators showed growth in Chicago-area business activity slowed by more than anticipated in the month of July.

MNI Indicators said its Chicago business barometer tumbled to 58.9 in July from 65.7 in June. While a reading above 50 still indicates growth, economists had expected the index to drop to 61.0.

Trading on Tuesday may be impacted by reaction to reports on personal income and spending, manufacturing activity and construction spending.

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

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Crude Oil On Verge Of $50, Up 8% For July

Crude oil futures rebounded from early losses Monday, creeping closer to $50 for the first time this summer.

Crude oil bulls have come alive in July, prodded by signs that OPEC will do whatever it takes to re-balance oil markets.

Last week, the Organization of the Petroleum Exporting Countries and partners including Russia agreed to reduce output by about 1.8 million barrels per day (bpd) until March 2018.

Most of the production cuts are being shouldered by Saudi Arabia. Nigeria, which was exempt from the supply quota plan, will now make some cuts.

Helped also by a weak U.S. dollar, U.S. West Texas Intermediate (WTI) futures were up 7 cents at $49.78 a barrel. Crude oil jumped more than 8% in July.

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

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Brutal July For U.S. Dollar

The dollar dropped to its lowest in about two years versus the euro, extending a recent downtrend amid mixed economic data.

The greenback slipped to $1.18 versus the euro, as riskier assets continued to rise in value. U.S. stocks have crawled to record highs and crude oil is nearing $50 for the first time this summer.

Traders are selling the dollar in favor of other major currencies. The buck dropped to 110 yen and to $1.31 versus the British pound.

In economic news, U.S. pending home sales rebounded by more than expected in the month of June, according to a report released by the National Association of Realtors on Monday.

NAR said its pending home sales index jumped by 1.5 percent to 110.2 in June after falling to 108.6 in May. Economists had expected pending home sales to climb by 1.0 percent.

Growth in Chicago-area business activity slowed by more than anticipated in the month of July, MNI Indicators revealed in a report released on Monday.

MNI Indicators said its Chicago business barometer tumbled to 58.9 in July from 65.7 in June. While a reading above 50 still indicates growth, economists had expected the index to drop to 61.0.

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

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Jaan’s 2017 H2 outlook, what economy needs most?

Analysts at Nomura, in respect to Japan’s economy, suggest that the key points for 2017 H2 are export recovery and dent to spending from inflation.

Key Quotes:

“We think the key points going forward are whether domestic demand can remain solid and whether the sluggishness in external demand will become protracted. The strength of domestic demand started to stand out from 2017 Q1, and we think the recovery seen in external demand since 2016 H2 may well have spread to domestic demand. 

However, if the sluggishness in exports became protracted, there would likely be a negative impact on domestic demand. We think global economic growth has levelled off, and that underlying growth in exports from Japan is slowing. 

However, with new smartphone production getting fully underway in 2017 H2, we think exports from Japan will likely pick up slightly compared to Q2, when they were broadly flat q-q. 

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Gold Jumps 2.5% In July

Gold futures were little changed Monday, unable to extend strong monthly gains as rising stocks dented the precious metal’s safe haven appeal.

December gold ended 0.1% lower at 1,275.30 an ounce, holding near the bet levels in more than six weeks.

Gold rose 2.5% in July as the Federal Reserve did little to diminish speculation they will keep interest rates on hold through December.

In today’s economic news, U.S. pending home sales rebounded by more than expected in the month of June, according to a report released by the National Association of Realtors on Monday.

NAR said its pending home sales index jumped by 1.5 percent to 110.2 in June after falling to 108.6 in May. Economists had expected pending home sales to climb by 1.0 percent.

Growth in Chicago-area business activity slowed by more than anticipated in the month of July, MNI Indicators revealed in a report released on Monday.

MNI Indicators said its Chicago business barometer tumbled to 58.9 in July from 65.7 in June. While a reading above 50 still indicates growth, economists had expected the index to drop to 61.0.

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

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زوج الباوند/ دولار يرتفع إلى قمم شهرية قرب 1.32 في تدفقات نهاية الشهر

ارتفع زوج استرليني / دولار أكثر من 60 نقطة في دقائق معدودة إلى جلسة لندن، وحقق أعلى مستوى منذ منتصف سبتمبر عند 1.3198. بعد الارتفاع الأولي، تخلى الزوج بعض أرباحه ويتداول الآن عند 1.3173، بارتفاع 0.29٪، أو 50 نقطة، في اليوم. لم يكن هناك أي محفزات واضحة وراء هذا التحرك الأخير وتدفقات نهاية الشهر يبدو […]

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زوج الباوند/ دولار يرتفع إلى قمم شهرية قرب 1.32 في تدفقات نهاية الشهر

ارتفع زوج استرليني / دولار أكثر من 60 نقطة في دقائق معدودة إلى جلسة لندن، وحقق أعلى مستوى منذ منتصف سبتمبر عند 1.3198. بعد الارتفاع الأولي، تخلى الزوج بعض أرباحه ويتداول الآن عند 1.3173، بارتفاع 0.29٪، أو 50 نقطة، في اليوم. لم يكن هناك أي محفزات واضحة وراء هذا التحرك الأخير وتدفقات نهاية الشهر يبدو […]

The post زوج الباوند/ دولار يرتفع إلى قمم شهرية قرب 1.32 في تدفقات نهاية الشهر appeared first on forexarabicnetwork.com.

زوج الباوند/ دولار يرتفع إلى قمم شهرية قرب 1.32 في تدفقات نهاية الشهر

ارتفع زوج استرليني / دولار أكثر من 60 نقطة في دقائق معدودة إلى جلسة لندن، وحقق أعلى مستوى منذ منتصف سبتمبر عند 1.3198. بعد الارتفاع الأولي، تخلى الزوج بعض أرباحه ويتداول الآن عند 1.3173، بارتفاع 0.29٪، أو 50 نقطة، في اليوم. لم يكن هناك أي محفزات واضحة وراء هذا التحرك الأخير وتدفقات نهاية الشهر يبدو […]

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انخفاض ودائع الأجانب في القطاع المصرفي اليوناني 40 مليار يورو في 8 سنوات

انخفضت أعداد المواطنين غير الأوروبيين المقيمين في اليونان بنحو 153.134 ألف شخص خلال الفترة ما بين عامي 2009 و2016، مما أدى إلى تراجع حجم الودائع الأجنبية لدى البنوك اليونانية بنحو 40 ميار يورو. ووفقاً لبيانات البنك المركزي اليوناني، انخفضت مدخرات المواطنين غير الأوروبيين لدى البنوك اليونانية من 47 مليار يورو في عام 2009 إلى أقل […]

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