Forex News from InstaForex

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Re: Forex News from InstaForex

Postby IFX Gertrude » Thu Jan 19, 2017 12:23 am

Gold Prices Drop on Yellen Remarks

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Gold prices remained under pressure following Federal Reserve Chair Janet Yellen's remarks that supported gradual U.S. interest rate hikes. Spot gold was little changed at $1,203 an ounce. The bullion previously reached an eight-week peak of $1,218.64, however, it dropped one percent in the earlier session as the dollar firmed.

U.S. gold futures were 0.7 percent lower at $1,203.50 an ounce. Several Fed officials were seen supporting the case for a gradual increase in U.S. interest rates. The precious metal extended losses following the latest release of the Fed's Beige Book which indicated a rise in manufacturing and tight labor markets showing upbeat U.S economic health. According to Capital Economics analyst Simona Gambarini, higher rates will likely add pressure to gold, as it is highly sensitive to increasing interest rates which raise the opportunity cost of holding non-yielding bullion.

Prices of Silver were higher as March silver added 0.7 percent to $17.274 per ounce while palladium shed 0.3 percent to $751 per ounce. In ETF trading, the SPDR Gold Trust retreated 0.6 percent while the iShares Silver Trust edged down 0.1 percent.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Thu Jan 19, 2017 10:27 pm

Fxwirepro: Aud/jpy Breaks Channel Top, Intraday Bias Higher, Stay Long

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AUD/JPY has broken major channel top resistance at 86.60, intraday bias higher.
Momentum with the bulls, RSI strong at 67 levels with further room to run.
Stochs and MACD suggest further upside, with directional support from ADX.
87.53 (Dec 15 high) is next target for bulls. Break higher could see test of 87.64 (50% Fib retrace of 102.844 to 72.437 fall) and then 89.89 (weekly 200-MA).
Support levels - 86.06 (5-DMA), 85.19 (converged trendline and 20-DMA), 84.63 (50-DMA) Resistance levels - 87.53 (Dec 15 high), 87.64 (50% Fib), 88.20 (Dec 31 high) ​

Call update:
Our previous call (http://www.econotimes.com/FxWirePro-AUD ... tup-495949) has hit TP1&2.

Recommendation:
Book partial profits at highs. Raise trailing stops to 86, hold for further upside.

FxWirePro Currency Strength Index:
FxWirePro's Hourly AUD Spot Index was at 13.4926 (Neutral), while Hourly JPY Spot Index was at -118.345 (Highly Bearish) at 0150 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Fri Jan 20, 2017 12:53 am

New Puerto Rico leader eyes sealing amicable debt agreement

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Puerto Rico and its lenders have resumed negotiations this week. But Governor Ricardo Rosselló wants to reset talks following a rancorous two years between the two parties.

The new governor, who succeeded Alejandro García Padilla after winning the election in November, said Thursday he was aiming for a rational change from the previous administration's management of discussions and assert their willingness to repay debts.

Rosselló mentioned officials are willing to sit down and to employ an actual fiscal oversight. He added they are steps to implement bold reforms.

Since he assumed office on January 2, the Puerto Rican leader has enacted executive orders which will pressure government agencies to slash operating expenditures by 10% this year and cut political appointees by a fifth.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Sun Jan 22, 2017 10:10 pm

Fxwirepro: Thai Baht Gains in Early Hours of Asia, Faces Strong Support at 35.27

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USD/THB is currently trading around 35.32 marks.
It made intraday high at 35.41 and low at 35.31 marks.
Intraday bias remains bearish till the time pair holds key resistance at 35.44 marks.
On the top side key resistances are seen at 35.44, 35.61, 35.74, 35.84, 35.93, 36.01, 36.08, 36.39 and 36.66 marks respectively.
Alternatively, a daily close below 35.27 will drag the parity down towards key supports around 35.04, 34.83, 34.64, 34.51 and 34.20 marks respectively.
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 take short position in USD/THB around 35.35, stop loss 35.44 and target of 35.22/35.04.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Mon Jan 23, 2017 12:58 am

SGX Warns of Looming Headwinds after Weak Quarterly Profit Increase

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After posting a 5% increase in second-quarter profit, Singapore Exchange Limited cautioned that it expects to several headwinds this year. It also announced its plan to accomplish more IPOs in key sectors including the property and technology sector.

SGX CEO Loh Boon Chye stated that while market sentiment has been lifted, uncertainty prevails regarding U.S. policies under President Donald Trump's administration and as trading activity is seen to be impacted by slowing Asian economies.

The bourse posted a net profit of S488.3 million in the October-December, topping estimates and higher than the S$83.7 million a year earlier. Revenue rose 3% to S$199.6 millin.

SGX has implemented measures to increase market liquidity, enhance listings' quality and solidify its regulatory framework after a stock crash in 2013 that affected its reputation. However, it still struggles to improve trading activity.

Loh said SGX is banking on IPO to provide impetus to the exchange's growth. He noted the importance of choosing sector strengths based on economic prospects. He reported that SGX is aiming for tech, infrastructure, real estate companies and consumer companies looking to have a market valuation of more than $1 billion Singaporean dollars.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Mon Jan 23, 2017 10:26 pm

Fxwirepro: Japanese Yen Marginally Lower Despite Higher Than expected Manufacturing Pmi Data

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USD/JPY is currently trading around 112.80 marks.
It made intraday high at 112.93 and low at 112.52 levels.
Intraday bias remains neutral till the time pair holds key support at 112.57 levels.
A daily close above 112.57 will take the parity higher towards key resistances around 114.42, 115.61, 117.21, 118.18, 118.66, 119.52 and 120.46 levels respectively.
On the other side, a sustained close below 112.57 will drag the parity down towards key supports around 112.05, 111.35, 110.85, 109.72, 106.72, 106.03 and 104.96 levels respectively. Japan’s Nikkei manufacturing PMI increases to 52.8 vs previous 52.4.
Japan’s January new export orders rise at quickest pace in over a year

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Re: Forex News from InstaForex

Postby IFX Gertrude » Tue Jan 24, 2017 1:15 am

Gold Reached Two-Month Peak as Trump Uncertainty Looms

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Gold climbed on Monday, hitting its highest in two months as uncertainty regarding the economic policies of U.S. President Donald Trump pressured investors to turn to safer assets. Uncertainty concerning Trump's policies drove the dollar to a 1-½ month low against a basket of currencies.

Spot gold was 0.56 percent higher at $1,216.33 per ounce. It previously reached $1,219.43, its highest since Nov. 22. U.S. gold futures was up at $1,215.60. The precious metal ended one percent higher last week for its fourth consecutive week of gains and longest stretch of weekly rises since July. Data from the U.S. Commodity Futures Trading Commission (CFTC) showed that speculators increased their net long positions in COMEX gold contracts for a second week in the week to Jan. 17.

Among other precious metals, silver climbed 0.93 percent to $17.19 and platinum added 0.77 percent to $983.50. Palladium was 1.57 percent lower at $776.00, as it previously hit $795.60, its highest since May 2015.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Tue Jan 24, 2017 10:36 pm

Australia Inflation Gains 0.5% On Quarter In Q4

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Consumer prices in Australia advanced 0.5 percent on quarter in the fourth quarter of 2016, the Australian Bureau of Statistics said on Wednesday.

That was beneath expectations for 0.7 percent, which would have been unchanged from the previous three months.

The most significant price rises in Q4 were tobacco (+7.4 percent), automotive fuel (+6.7 percent) and restaurant meals (+1.1 percent).

These rises were partially offset by falls in furnishings, household equipment and services (-0.8 percent) and communication (-0.8 percent).

Vegetables rose 2.5 percent in Q4 as adverse weather conditions in major growing areas affected supply for particular vegetables (potatoes, capsicums, broccoli and cauliflower). Offsetting these rises are price falls for salad vegetables, tomatoes, lettuce and celery.

The most significant offsetting price falls in Q4 were international holiday travel and accommodation (-2.6 percent), accessories (-5.1 percent) and waters, soft drinks and juices (-3.2 percent).

On a yearly basis, inflation gained 1.5 percent -0 again shy of forecasts for 1.6 percent but up from 1.3 percent in the three months prior.

The Reserve Bank of Australia's trimmed mean was up 0.4 percent on quarter and 1.6 percent on year, while the weighted median gained 0.4 percent on month and 1.5 percent on year.

Also on Wednesday, Westpac Bank said that its leading economic indicator for the Australian economy jumped in December, rising 0.44 percent last month.

That follows the upwardly revised 0.03 percent gain in November (originally 0.02 percent).

The six-month growth rate climbed from flat in November to 1.28 percent in December; in all, the index has been above trend in five straight months.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Wed Jan 25, 2017 12:18 am

Dollar, U.S. Yields Higher Amid Uncertainty on Trump’s Protectionist Stance

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The dollar held gains as Treasury yields rebounded, lifting the greenback from recent lows against the yen and euro amid unease regarding U.S. President Donald Trump's protectionist stance. The dollar index dropped as low as 99.922 on Tuesday, as the initial enthusiasm tempered by Trump's inaugural speech from the previous week was pointing towards trade protectionism. The index was last at 100.270.

The U.S. currency was 0.1 percent higher, it had added nearly one percent the day earlier, jumping from 112.520, its lowest since late November. The euro was steady at $1.0730. The common currency has shed nearly 0.3 percent overnight, retreating from a near seven-week peak of $1.0755. The pound was 0.1 percent higher. It had weakened to as low as $1.2420 overnight before rebounding after the British Supreme Court ruled that the government will pass through parliament.

The Australian dollar climbed 0.2 percent at $0.7591. However, the dollar's overnight rise kept the Aussie away from a 10-week peak of $0.7609 touched the day earlier. U.S. Treasury yields rose as investors seized equities on better outlook on latest corporate profits, reducing their safe-haven demand for bonds triggered by Trump's protectionist trade stance.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Wed Jan 25, 2017 10:27 pm

Japan Producer Prices Rise 0.4% In December

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Producer prices in Japan were up 0.4 percent on month in December, the Bank of Japan said on Thursday - topping forecasts for 0.3 percent, which would have been unchanged from the November reading.

On a monthly basis, producer prices added 0.1 percent for the second straight month.

For the fourth quarter of 2016, producer prices were up 0.4 percent on year and 0.2 percent on quarter. That followed the 0.3 percent yearly growth and the 0.2 percent quarterly gain in Q3.

For all of 2016, producer prices added 0.3 percent after gaining 1.1 percent in the previous year.

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