Forex News from InstaForex

[IFX Gertrude]

Fxwirepro: Usd/krw Hovers Around 1,148 Mark; Stay Bullish



USD/KRW is currently trading around 1,147 levels.

It made intraday high at 1,148 and low at 1,145 marks.

Intraday bias remains bullish till the time pair holds key support at 1,138 levels. A daily close above 1,148 will drag the parity higher towards key resistances at 1,152, 1,162, 1,176, 1,182, 1,196, 1,201, 1,209 (20D EMA) and 1,220 (March 03, 2016 high) marks respectively.

On the other side, a sustained close below 1,138 will test key supports at 1,127/1,117/1,111/1,101/1,089/1,078/1,063/1,044 levels respectively.

In addition, South Korea’s Kospi was trading around 1.14 percent lower at 1,984.54 points.

We prefer to go long on USD/KRW only above 1,148, stop loss 1,138 and target 1,162.

News are provided byInstaForex.

[IFX Gertrude]

U.S. Treasury Prices Regains Ground on Election Jitters



Increasing apprehension over the upcoming U.S. presidential election on November 8 triggered investors' flight to safety instincts and fueled the demand for safe-haven bonds, driving the prices of U.S. Treasuries higher following an earlier session of declines.

Improved manufacturing data from China caused an initial selloff in the bond market, causing yields on the 10-year Treasury notes to rise close to a five-month high. The positive economic data alleviated worries of a continuing slump in China' economy and elevated outlook for global growth.

However, anxiety over the result of the impending election caused investors to be more risk-averted, increasing the demand for government debt. The latest result of the ABC News/ Washington Post poll indicated that while vote preference had basically remained the same, Democrat Party nominee Clinton has lost her advantage for the first time since May, with GOP candidate Donald Trump narrowly taking the lead.

The yield on the 10-year Treasury note closed at 1.822%, declining from a session peak of 1.877%. Yields on the two-year note fell by two basis points to 0.829% while the 30-year note lost 1.8 basis point to 2.571%.

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[IFX Gertrude]

Australia Has A$1.227 Billion Trade Deficit



Australia had a seasonally adjusted merchandise trade deficit of A$1.227 billion in September, the Australian Bureau of Statistics said on Thursday.

That beat forecasts for a shortfall of A$1.70 billion following the upwardly revised A$1.894 billion deficit in August (originally -A$2.010 billion).

Exports were up 2.0 percent on month to A$27.254 billion after coming in at A$26.828 billion in the previous month.

Imports dipped 1.0 percent on month at A$28.481 billion after coming in at A$28.722 a month earlier.

News are provided byInstaForex.

[IFX Gertrude]

Dollar Weakens as Fed Kept Rates Unchanged



The dollar trimmed losses after the U.S. Federal Reserve indicated a possibility of an interest-rate hike in December, however uncertainty regarding the U.S. presidential election weighed on the currency. The WSJ Dollar Index fell 0.3 percent.

The Fed kept short-term interest rates unchanged however it did indicate that it expects to increase rates by year-end. The statement of the Fed stated that inflation is strengthening and also implied that the bar to raising rates for the first time in a year is low. Fed-funds futures have shown that investors implied a 72 percent chance of a rate hike in December, according to CME Group data.

The dollar was lower against a basket of major currencies, led by the rand and the kiwi. The euro was stable at $1.1094. The Mexican peso fell 0.9 percent against the greenback. The Japanese yen climbed by nearly 0.6 percent and the Swiss franc rose by almost 0.1 percent against the dollar. Investors watch U.S. data for indications that the economy is firm enough for a rate hike by year-end.

The dollar index last traded at 97.404, after declining to as low as 97.178, its lowest since Oct 11.

News are provided byInstaForex.

[IFX Gertrude]

Japan Services PMI Expands In October - Nikkei



The services sector in Japan swung to expansion in October, the latest survey from Nikkei revealed on Friday with a PMI score of 50.5.

That's up from 48.2 in September, and it moves above the boom-or-bust line of 50 that separates expansion from contraction.

Individually output increased at firms, supported by a sharp expansion in new orders.

Business expectations were the strongest in six months, while inflationary pressures intensified to the greatest level in eight months.

The report also showed that the composite index jumped to 51.3 in October from 48.9 in the previous month.

News are provided byInstaForex.

[IFX Gertrude]

Starbucks Shares Advance After Posting Higher Quarterly Revenue



Shares of Starbucks rose as much as 6%, before trading 0.9% higher at $52.30 in extended trading after posting quarterly results that beat estimates, easing concerns that the world's biggest coffee chain had fallen into a widespread restaurant slump.

The company reported adjusted earnings of 56 cents per share on $5.71 billion total revenue. Topped expectations of $5.68 billion revenue with 55 cents per-share earnings. In the same period during the previous year, Starbucks saw a $4.91 billion revenue and earned 43 cents per share.

Net income during the fourth quarter rose to $801 million or 54 cents per share, compared to the $625.5 million or 43 cents per share a year prior.

Despite the upbeat quarterly report, the coffee seller issued a cautious revenue guidance for the financial year of 2017. Starbucks projected net earnings of 50-51 cents per share during the first quarter which covers the holiday season, lower than expected profit of 55 cents per share.

News are provided byInstaForex.

[IFX Gertrude]

Fxwirepro: Usd/jpy Jumps Above 104.00 Mark After Boj’s Meeting Minutes



USD/JPY is currently trading around 104.02 marks.
It made intraday high at 104.47 and low at 103.75 levels.
Intraday bias remains bullish till the time pair holds key support at 102.55 levels. A daily close above 104.16 will take the parity higher towards key resistances around 104.99, 105.50, 106.12, 106.72, 107.49, 107.90 and 109.13 levels respectively.
On the other side, a sustained break below 103.75 will drag the parity down towards key supports around 102.67, 101.56, 100.30, 99.27 and 98.78 levels respectively.
BOJ September meeting minutes: Some members said firms' cautious price-setting behaviour might continue for longer than expected.
BOJ minutes: Many members shared the view that QQE had lowered real interest rates by raising inflation expectations and pushing down nominal interest rates. BOJ minutes: One member said it was necessary to implement monetary policy that would raise inflation expectations.
BOJ minutes: One member said change in the yield curve after adoption of negative rates had been largely induced by temporary, somewhat speculative moves.
BOJ minutes: One member noted that achieving both an interest rate target and a quantitative target in the implementation of monetary policy was difficult.
Japan September overtime pay increases to -1.3 % vs previous -1.9 %.
In addition, Japan’s Average Cash Earnings rose to a seasonally adjusted 0.2%, from 0.0% in the preceding quarter whose figure was revised up from -0.1%.

News are provided byInstaForex.

[IFX Gertrude]

Japan September Real Wages Edge Up as Consumer Prices Fall



Japan's real wages climbed for the eighth month in a row in September according to official data, propped-up by declining consumer prices as the economy exhibit meager signs of rising inflation.
Real wages, which are revised for inflation, climbed 0.9% year-on-year in September, growing faster than a revised 0.6% increase in the prior month. Meanwhile, nominal cash earnings climbed 0.2 in September from a year prior. Revised figures indicated that last month, nominal wages were flat year-on-year.

Separate data showed core consumer prices extended its seventh month of decline while spending among Japanese households slumped in September.

Special payments, including bonuses, dropped at an annual rate of 2.9% in September, compared to a 0.5% annual decline in the previous month. Overtime pay dropped 1.3% year-on-year in September. Regular pay, on the other hand, rose an annual 0.4%.

BOJ policymakers initially anticipated its bold monetary easing and massive fiscal spending to jumpstart economic growth, which would drive up real wages and stimulate inflation. On the contrary, consumer prices slowed down due to tepid growth, which consequentially drove up real wages but will not be beneficial to the economy.

News are provided byInstaForex.

[IFX Gertrude]

Australia Business Confidence Ebbs In October - NAB



Business confidence in October remained positive in October, albeit at a slower pace, the latest survey from the National Australia Bank revealed on Tuesday with an index score of +4.

That's down from +6 in September, although it didn't slip into pessimism with a negative score.

Business conditions also slowed, coming in at +6 - down from +8 in the previous month.

News are provided byInstaForex.

[IFX Gertrude]

Japan Has Y1.821 Trillion Current Account Surplus



Japan had a current account surplus of 1.821 trillion yen in September, the Ministry of Finance said on Wednesday - up 25.4 percent on year.

That was shy of expectations for 2.020 trillion yen and down from 2.000 trillion yen in August.

The trade surplus came in at 642.4 billion yen - shy or forecasts for 668.8 billion yen and up from 243.2 billion yen in the previous month.

Exports were down 8.3 percent on year to 5.838 trillion yen, while imports skidded 17.5 percent to 5.196 trillion yen.

News are provided byInstaForex.