Forex News from InstaForex

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Re: Forex News from InstaForex

Postby IFX Gertrude » Fri Oct 20, 2017 1:03 am

Gold Holds Onto Gains as Dollar Slips

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Gold prices held firm early on Friday as the dollar dropped following a report that U.S. President Donald Trump was leaning towards a less hawkish candidate as the next chair of the Federal Reserve.

Spot gold was stable at $1,289.52 per ounce. The precious metal rose 0.7 percent in the session earlier.

U.S. gold futures for December delivery climbed 0.1 percent to $1,291.30 an ounce.

The dollar index, which measures the U.S. currency against a basket of peers, fell 0.1 percent to 93.193.

U.S. President Donald Trump has concluded interviews with the five candidates he is considering to chair the Federal Reserve and could announce a decision as early as next week, according to a source familiar with the matter.

Federal Reserve Governor Jerome Powell is the leading candidate to become the next chair of the U.S. central bank after President Donald Trump concluded meetings with the finalists on Thursday, Politico reported, citing three administration officials.

Powell is considered less hawkish than other candidates on Trump's short list. Powell would be expected to favour lower interest rates for the United States, reducing the value of the dollar to investors.

Demand for the yellow metal soared in India this week due to Dhanteras and Diwali. However, high prices weighed on gold's appeal during the key festival period this year.

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Re: Forex News from InstaForex

Postby IFX Yvonne » Mon Oct 23, 2017 3:05 am

Japan Leading Index Strengthens More Than Estimated In August

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Japan's leading index improved more than initially estimated in August, latest figures from the Cabinet Office showed Monday.

The leading index, which measures the future economic activity, climbed to 107.2 in August from 105.2 in July. The reading for August was revised up from 106.8.

Moreover, this was the highest score since February 2014, when the reading was 108.0.

The coincident index that reflects the current economic activity rose to 117.7 in August from 115.7 in the previous month. The flash reading for August was 117.6.

The lagging index came in at 116.2 in August, up from 115.9 in July.
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Re: Forex News from InstaForex

Postby IFX Gertrude » Mon Oct 23, 2017 11:55 pm

Japan Manufacturing PMI Slows In October - Nikkei

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The manufacturing sector in Japan continued to expand in October, albeit at a slightly slower pace, the latest survey from Nikkei revealed on Tuesday with a manufacturing PMI score of 52.5.

That's down from 52.9 in September, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

Individually, output, new orders, new export orders and quantity of purchases all increased but at a slower pace.

Employment, backlogs and output prices all increased at a faster rate.

Business confidence fell to an 11-month low.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Tue Oct 24, 2017 12:46 am

Gold Prices Rebound from 2-Week Low on Weaker Dollar

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Gold prices climbed on Tuesday, rebounding from an over two-week low notched in the session earlier, on the back of a relatively softer dollar.

Spot gold climbed 0.1 percent at $1,283.36 per ounce. The precious metal reached its lowest since Oct. 6 at $1,271.86 in the session earlier.

U.S. gold futures for December delivery increased 0.3 percent to $1,284.80 an ounce.

The dollar index fell 0.1 percent at 93.778. The greenback dropped 0.1 percent to 113.35 yen after hitting a more than three-month peak in the session earlier.

U.S. President Donald Trump will urge President Xi Jinping to make good on his commitments to pressure North Korea when he visits China in November, according to a senior White House official.

Trump recently told reporters that he is "very, very close" to making his decision on who should chair the Federal Reserve.

Financial markets are now awaiting guidance on who will succeed Fed chair Janet Yellen when her term expires in February.

Trump is considering nominating Fed Governor Jerome Powell and Stanford University economist John Taylor for the central bank's top two jobs. Powell is considered less hawkish than Taylor, who is seen advocating higher interest rates.

South Africa's Gold Fields said its third-quarter gold output increased three percent compared with the previous quarter, supported by a ten percent growth in production at their South Deep mine.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Tue Oct 24, 2017 1:18 am

AUD/JPY profit target reached perfectly, prepare to buy

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The price has dropped perfectly and reached our profit target. We now prepare to buy above major support at 88.39 (Multiple Fibonacci retracements, horizontal overlap support) for a push up to at least 89.10 resistance (Multiple Fibonacci retracements, recent swing high resistance).

Stochastic (21,3,1) is seeing support above 1.2% where we expect a corresponding bounce from.

Buy above 88.39. Stop loss is at 88.17. Take profit is at 89.10.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Tue Oct 24, 2017 9:04 pm

COLOMBIA: Colcap Closes Stable Due To Bancolombia's Underperformance

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Colcap, the main index of the Colombian Stock Exchange, closed stable Tuesday at 1,460.35 units.

Ramses Pestanapalmett, an analyst at Ultraserfinco, said the oil rally abroad due to the declining output in Iraq after the Kurdish referendum, was countered by Bancolombia's underperformance.

Avianca closed with gains after the nomination of a third arbitrator within the Arbitration Court trying to settle in the labor dispute between the company and the pilots' unions.

The shares of ETB (+1.62%), Ecopetrol (+1.03%), Cemargos (+0.94%), Cemex (+0.88%), Avianca (+0.54%), Conconcreto (+0.51%), and EEB (+0.25%), while Bancolombia (-1.23%), Nutresa (-0.52%), and Preferencial Bancolombia (-0,31%) fell.

The locally traded U.S. dollar closed the day at 2,978.00 Colombian pesos, up 0.86%, remaining bullish amid expectations on who will be nominated by U.S. President Donald Trump as head of the Federal Reserve Bank.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Tue Oct 24, 2017 9:59 pm

Eurozone Business Remains Strong - PMI

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Private sector growth across the eurozone weakened significantly than expected in October, a survey revealed. However, activity remains robust undeterred by companies raising prices at the sharpest rate in more than six years.

IHS Markit's eurozone Flash Composite Purchasing Managers' Index for October, seen as a good guide to overall economic growth, dropped to 55.9 from September's 56.7, well above the 50 level that separates expansion from contraction.

Germany's private sector reported the highest rise in new orders in 6-½ years in October, indicating that its economy began the fourth quarter on a strong footing.

France's business rebound showed no sign of slowing down as activity grew more than expected.

The output prices index increased to 53.3 from 52.7, its highest since June 2011.

Inflation has persistently refused to hit the European Central Bank's two percent target ceiling.

A PMI that covers the eurozone's dominant service industry plunged to 54.9 from 55.8.

However, companies believe that the slowdown will not last, as they hired employees at the second quickest clip in more than nine years. The employment index climbed to 54.3 from 53.7.

Manufacturing growth picked up. The factory PMI stood at 58.6 from September's 58.1, its highest since February 2011.

An index measuring output, which feeds into the composite PMI, fell to 58.7 from 59.2.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Thu Oct 26, 2017 12:22 am

Australia Export Prices Sink 3.0% In Q3

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Export prices in Australia were down 3.0 percent on quarter in the third quarter of 2017, the Australian Bureau of Statistics said on Thursday.

That beat forecasts for a decline of 4.0 percent following the 5.7 percent drop in the three months prior.

Import prices were down 1.6 percent on quarter, missing slightly forecasts for a decline of 1.5 percent following the 0.1 percent contraction in the second quarter.

On a yearly basis, export prices were up 14.2 percent and import prices dipped 0.4 percent.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Thu Oct 26, 2017 1:00 am

Gary Cohn Out of Running to Become Next Fed Head

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Export prices in Australia were down 3.0 percent on quarter in the third quarter of 2017, the Australian Bureau of Statistics said on Thursday.

That beat forecasts for a decline of 4.0 percent following the 5.7 percent drop in the three months prior.

Import prices were down 1.6 percent on quarter, missing slightly forecasts for a decline of 1.5 percent following the 0.1 percent contraction in the second quarter.

On a yearly basis, export prices were up 14.2 percent and import prices dipped 0.4 percent.

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Re: Forex News from InstaForex

Postby IFX Gertrude » Fri Oct 27, 2017 12:19 am

COLOMBIA: Colcap Rises With Ecopetrol's Sharp Gains

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Colcap, the main index of the Colombian Stock Exchange, rose 0.10% Thursday, closing at 1,471.17 points due to the good performance of Ecopetrol, which gained more than 5%.

Andr?s Fonseca, an analyst at Alianza Valores, said that oil prices continue to rise after Russian and Saudi officials indicated that they intend to extend production cuts by 2018.

Fonseca said that the oil rebound favored the performance of the state-owned oil company Ecopetrol and a good part of Colcap's constituents.

The locally traded U.S. dollar closed the day at 3,015.01 Colombian pesos, marking a 0.56% rise, due to investors expectation over a tax reform in the United States and the appointment of the new head of the U.S. Federal Reserve bank.

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