Forex News from InstaForex

[IFX Gertrude]

Japan Manufacturing Sector Slows In November - Nikkei



The manufacturing sector in Japan continued to expand in November, albeit at a slower pace, the latest survey from Nikkei showed on Thursday with a manufacturing PMI score of 51.1.

That's down from 51.4 in October, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

Among the individual components, output, new orders, new export orders, employment, input prices and stocks of purchases all were in expansion territory.

Backlogs of work, stocks of finished goods and quantities of purchases contracted.

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[IFX Gertrude]

Dollar Strengthens after Positive U.S. Data



The dollar strengthened following the latest U.S. upbeat data that has shown economic growth early in the fourth quarter, raising the chances of the Federal Reserve tightening monetary policy. The dollar index climbed 0.1 percent to 101.79.

Investors are implying in almost a 100 percent likelihood of a December Fed rate hike, according to CME FedWatch. Latest U.S. data has shown new orders for U.S. manufactured capital goods rebounded in October due to increasing demand for equipment and machinery. The dollar rose 0.1 percent at 112.56 against the Japanese yen.

The euro brushed off the positive reading on business activity and fell 0.1 percent to $1.0540.

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[IFX Gertrude]

Fxwirepro: Yen Hits Lowest Level Since Late March After Japan’s Core Cpi Datal



USD/JPY is currently trading around 113.67 marks.

It made intraday high at 113.79 and low at 113.18 levels.

Intraday bias remains bullish till the time pair holds key support at 112.35 levels.

A daily close above 113.30 will take the parity higher towards key resistances around 114.55, 115.32 and 117.25 levels respectively.

On the other side, a sustained break below 113 will drag the parity down towards key supports around 112.35, 110.85, 109.72, 106.72, 106.03 and 104.96 levels respectively.

Japan’s November CPI, overall Tokyo increase to 0.5 % vs previous 0.1 %.

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[IFX Gertrude]

Japan’s Consumer Prices Extends Decline in October



Japan's consumer prices logged its eighth consecutive month of annual declines in October, highlighting how far the country is from overcoming deflation.

Official government data showed core consumer price index fell 0.4% in October year-on-year after a 0.5% decline in September. The October figures also matched estimates. Meanwhile, overall CPI edged up 0.1% as a rise in fresh food prices offset the continued decline in energy costs.

Prices of fresh food rose 11.4% in October due to calamities and unfavorable summer weather, which attributed almost 0.5 percentage point to the increase in total CPI. However, energy costs fell 7.9%, pulling down inflation by around 0.6 percentage point.While declining prices of gasoline and electricity continued to pressure inflation rates, almost 60% of all items composing the index saw an increase in prices, data revealed.

Core-core Inflation Index, which does not include the volatile prices of food and energy, advanced 0.2% in October from a year-prior period, higher than the forecast of a 0.1% rise. However, soft domestic activity raises doubt on the possibility of a sustained recovery.

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[IFX Gertrude]

Fxwirepro: Singapore Dollar Gains in Early Hours of Asia, Intraday Bias Remains Bearish



USD/SGD is currently trading around 1.4239 marks.
It made intraday high at 1.4283 and low at 1.4236 levels.
Intraday bias remains bearish till the time pair holds key resistance at 1.4345 marks.
A sustained close above 1.4280 will test key resistances at 1.4345, 1.4443, 1.4481 and 1.4556 levels respectively.
Alternatively, a consistent close below 1.4280 will drag the parity down towards key supports at 1.4201/1.4128/1.4046/1.3972/1.3819/1.3775/1.3704/1.3646/1.3587/1.3510/1.3462/1.3391/1.3347/1.3313/1.3302/ 1.3271 levels.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.
We prefer to go short on USD/SGD around 1.4250 with stop loss at 1.4345 and target of 1.4201/1.4128.

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[IFX Gertrude]

Gold Edges Up From 9-½ -Month Low as Dollar Eases



Gold climbed after slipping to a 9-½ month low during the previous session, as the U.S. dollar retreated after reaching near 14-year highs last week. Spot gold climbed 0.55 percent at $1,189.43 per ounce.

U.S. gold futures was up 0.9 percent to $1,189.0 an ounce. Oil prices slipped on concerns that producer countries might not come up with a final agreement to reduce output, pressuring U.S. stock futures and Asian shares. Gold premiums in China rose to the highest in almost three years in the week to Nov. 25 on uncertainty regarding a supply shortage that traders claim were because of Beijing's attempt to restrict import licenses.

SPDR Gold Trust said that its holdings declined 0.73 percent to 885.04 tonnes on Friday.

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[IFX Gertrude]

Fxwirepro: South Korean Won Opens Onshore Trade at 1,169.5 Per U.s. Dollar, Faces Strong Support at 1,162



USD/KRW is currently trading around 1,167 levels.
It made intraday high at 1,170 and low at 1,166 marks.
Intraday bias remains bearish till the time pair holds key resistance at 1,172 levels. A daily close above 1,172 will drag the parity higher towards key resistances at 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 1,172 will test key supports at 1,162/1,152/1,146/1,132/1,127/1,117/1,111/1,101/1,089/1,078/1,063/1,044 levels respectively.
Seoul shares open down 0.05 pct at 1977.10.
We prefer to go short on USD/KRW around 1,168, stop loss at 1,172 and target of 1,160.

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[IFX Gertrude]

Wall Street Retreats As Discretionary Stocks Pullback



U.S. stocks retreated for their worst performance in almost a month, pressure was added by the pullback in the financial and consumer discretionary sectors. Investors have placed bets that President-elect Donald Trump's policies might improve domestic growth, reduce corporate taxes and raise infrastructure spending.

The Dow Jones Industrial Average dropped 0.28 percent to 19,097.9. The S&P 500 slipped 0.53 percent to 2,201.72 while the Nasdaq Composite fell 0.56 percent to 5,368.81. Three of the top four decliners on the S&P 500 were banks, as Wells Fargo lost two percent, Bank of America was down 2.7 percent while Citigroup fell 2.3 percent. Amazon dropped 1.7 percent at $766.77, and was the largest decliner on the Nasdaq. Time Inc rose 17.6 percent to $16 following the New York Post report that the publisher rejected a takeover bid from investor Bronfman Jr.

The CBOE Volatility Index (VIX), widely considered the best measure of fear in the market, traded higher, near 13.2.

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[IFX Gertrude]

Fxwirepro: Aud/nzd Stabilizes Below 1.05 Mark After mixed Housing Data from Australia



AUD/NZD is currently trading around 1.0485 marks.
Pair made intraday high at 1.0501 and low at 1.0481 marks.
Intraday bias remains bearish till the time pair holds immediate resistance at 1.0532 marks.
A sustained close above 1.0532 will drag the parity higher towards key resistances at 1.0618/1.0655/1.0751/1.0823/1.0976 (January 2016 high) /1.1062 (30D EMA) /1.1123/1.1298/1.1317 levels respectively.
Alternatively, a consistent close below 1.0479 will take the parity down towards key supports around 1.0446, 1.0333, 1.0237, 1.0184, 1.0109 and 1.0053 marks respectively.
Australia’s October building approvals decreases to -12.6 % (forecast 1.5 %) vs previous -8.7 %.
Australia’s October private sector credit increases to 0.5 % (forecast 0.4 %) vs previous 0.4 %.
Australia’s October housing credit increases to 0.6 % vs previous 0.5 %.
Australia’s October private house approvals decrease to -3.4 % vs previous 2.3 %.

News are provided byInstaForex.

[IFX Gertrude]

Dollar Stalls Ahead of OPEC Meeting



The dollar fluctuated against the yen and euro, as traders prepared ahead of the OPEC meeting that could possibly turn financial markets and pressure the U.S. currency. The greenback was steady at 112.430 against the Japanese yen while the euro was flat at $1.0648.

The dollar index was little changed at 100.98 after declining 0.4 percent the previous day. The U.S. currency has recently stalled, as Treasury yields showed signs of peaking for now amidst purchasing by investors' month-end portfolio rebalancing. This is probably why the dollar failed to capitalise on latest positive data that showed U.S. third quarter GDP and much-stronger-than-expected November consumer confidence figures. The Canadian dollar was little changed at C$1.3432 a dollar.

The Australian dollar was flat at $0.7485 AUD, within hitting a 12-day peak of $0.7497 the previous day. The pound was fixed at $1.2490 GBP after climbing 0.6 percent the day earlier.

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