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Japan Household Spending Unchanged In October

The average of household spending in Japan was flat on a yearly basis in October, the Ministry of Internal Affairs and Communications said on Friday.

That beat forecasts for a decline of 0.3 percent on year, which would have been unchanged from the September reading.

The average of monthly income per household stood at 501,416 yen, up 2.9 percent on year.

The average of consumption expenditures per household was 313,733 yen, up an annual 2.3 percent.

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

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South Korea CPI Slows To 1.3% On Year In November

Consumer prices in South Korea were up 1.3 percent on year in November, Statistics Korea said on Friday.

That was well shy of forecasts for 1.9 percent and down from 1.8 percent in October.

On a monthly basis, inflation was down 0.7 percent after easing 0.2 percent in the previous month.

Core CPI was down 0.3 percent on month and up 1.4 percent on year after adding 0.2 percent on month and 1.6 percent on year a month earlier.

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

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BRAZIL: Ibovespa Falls 1% Amid Uncertainty About Pension Reform Bill

Uncertainty regarding Congressional support for the pension reform bill soured investors’ moods Thursday, leading the Ibovespa, the leading stock market index in Brazil, to fall 1%, at 71,970.99 points and diverging from the optimism seen in the U.S. stock markets. In November, the stock market index fell 3.15%.

“Everyone [in the market] is afraid that the pension reform will not go ahead, after some government comments. The problem is getting the necessary quorum,” said H. Commcor operations desk manager Ari Santos.

According to the speaker of Brazil’s House of Representatives, Rodrigo Maia, there would be no quorum for a possible vote on the pension reform bill next week.

The market is also waiting for PSDB, one of the parties from the government coalition, to state if it will remain an ally to President Michel Temer.

According to Lerosa Investimentos analysts, “the possibility that the reform does not come out” would bring even more discomfort and profit-taking to the Brazilian stock exchange. If Congress fails to vote on the reform in December, the chances are that there will be no vote on that subject in 2018, when Brazil will go through general elections.”

In the corporate side, the electricity sector was among the most affected due to fears related to the privatization of Eletrobras (ELET3 -6.30%, ELET6 -5.74%). The most significant drop was CPFL’s shares (CPFL -24.05%). The company will delist from the Brazilian stock market.

Meanwhile, the locally traded U.S. dollar closed up 0.95%, at R$ 3,271, influenced by the market’s perception that the pension reform bill should face more hurdles than expected.

For local analysts, the mood may remain sour at least until the government sets a date for the pension reform vote. Tomorrow, however, investors should take a closer look at the Brazilian Gross Domestic Product (GDP) in the third quarter.

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

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ARGENTINA: Industrial Activity Up 4.4% In October On An Annual Basis

Industrial activity in Argentina recorded a 4.4% growth in October on an annual basis, accelerating from the 2.3% increase posted in September, said the country’s statistics office.

The Monthly Industrial Estimator (EMI) keeps an upward trend since May. Year-to-date, Argentina’s industrial activity grew 1.8%, compared to the January-October 2016 period.

The sectors of the Argentinean industry that stood out with increases in October from a year before were automotive industry (+25.6%), the tobacco industry (+17.0%), non-metallic mineral products (+16.5%), the metalworking industry excluded the automotive industry (+15.7%) and the basic metal industries (13.3%).

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

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South Korea GDP Expands 1.5% On Quarter In Q3

South Korea’s gross domestic product was revised up to 1.5 percent on quarter in the third quarter of 2017, the Bank of Korea said on Friday.

That’s up from 1.4 percent suggested in October’s preliminary reading. GDP gained 0.6 percent on quarter in Q2.

Real gross national income increased 2.4 percent on quarter.

On a yearly basis, GDP was bumped up to 3.8 percent from 3.6 percent in October. GDP expanded 2.7 percent on year in the second quarter.

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

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