Forex News from InstaForex

[IFX Gertrude]

Usd/krw Opens at 1145, Then Bounce, As Usd Bid Returns



Improvement in exports saw current ccount surplus rise to a 13-month high Exports showed slight improvement, down 8.2% against a forecast -10.7%

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[IFX Gertrude]

U.S. asks Deutsche, JPMorgan to give details on 1MDB dealings –sources



Banking sources said U.S. Department of Justice officials have asked banks Deutsche Bank and JPMorgan for details of their dealings with Malaysia's 1MDB, a troubled state fund which had been under investigation. The officials have also travelled to Kuala Lumpur to speak to people with close links to the fund, the sources said. They said JPMorgan and Deutsche were not the target of the investigations at this stage, but had only been asked to provide details.

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[IFX Gertrude]

Fxwirepro: Usd/jpy falls Below 111.00 Mark As Japan’s Wage Data Came in Much Better Than Expected



USD/JPY is currently trading around 110.87 marks.
It made intraday high at 111.34 and low at 110.85 levels.
Today Japan released Labour cash earnings data with positive numbers at 0.9% m/m vs 0.0% previous release.
Intraday bias remains bearish for the moment.
Pair slips below 111.00 and confirms bearish trend for the moment.
A daily close below 111.14 will take the parity down towards 110.66, 109.62 and 108.36 levels.
On the top side, key resistance levels are seen at 111.79, 112.60, 113.43, 113.98 and 114.28 marks.

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[IFX Gertrude]

3D Systems names former HP exec as CEO



3D Systems Corp, a 3D print maker, named Vyomesh Joshi, a former HP Inc. executive, as its president and chief executive. Joshi headed the printing business of HP, and he replaces Andy Johnson, who was serving as the interim president and CEO, the company said. 3D Systems has been struggling in the past 2 years, with its stock falling about 90% as investors raised questions about the viability of consumer 3D printers. Avi Reichental, its former chief executive, stepped down last year in a mutual agreement with the board.

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[IFX Gertrude]

Fitch: China Hard Landing Unlikely But Reform Skepticism Rising



Fitch Ratings' senior sovereign, banks and corporates analysts addressed the key questions on China most frequently asked by investors, in a Special Report published today. The report includes our views on the prospects for a hard landing, whether the yuan will be devalued, the likelihood of structural reforms, the nature of banking system risks, and the outlooks for ratings. Fitch believes strongly that China has the administrative and financial resources to avoid a disruptive slowdown to near-zero growth over the rating Outlook horizon of about two years - a factor underpinning the sovereign's 'A+' rating. However, high and rising leverage in the economy is a mounting source of systemic vulnerability, and has been the key reason why Fitch has not raised the sovereign into the 'AA' category. Moreover, the degree of clarity over the authorities' reform strategy remains low relative to the scale of risks. The risk of financial system stress will increase the longer credit expands faster than GDP, but it is not our base case that stress is imminent. The pace of credit growth means reported asset quality in the banking system could well deteriorate. But where and when NPL ratios will peak is less important for bank ratings than the evolution of banks' loss-absorption buffers. Buffers are stronger at state banks than at the mid-tier banks rated by Fitch, and these buffers have weakened faster among the mid-tier - owing to greater rapid credit expansion. Fitch thinks SOE restructuring is likely to be more gradual than the process in the late 1990s, with corporate indebtedness taking centre stage among investors' concerns. Asset swaps, mergers of entities or non-core subsidiaries being traded or swapped into other groups (including asset-management companies) is a much more likely outcome in the process of consolidating and reducing the overall number of SOEs, particularly at a national level. Mass privatisation is not a likely outcome.

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[IFX Gertrude]

Canada agency fines bank for not reporting suspect transaction



Canadian financial intelligence agency has fined a Canadian bank C$1.1 million ($837,330) for not reporting a suspicious transaction and various money transfers. The name of the bank was not disclosed. Financial Transactions and Reports Analysis Centre of Canada or Fintrac has penalized a bank for the first time.

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[IFX Gertrude]

Nikkei Trades in Narrow Range , Good to Buy at Dips



Major Support - 15500
Major resistance - 16300
The index has made a low of 15533 and recovered till from that level. It is currently trading around 15857.Intra day trend is slightly bullish as long as support 15500 holds .
Any break below 15500 confirms minor weakness and decline till 15000/14750 is possible in short term.On the higher side minor resistance is around 15910 and break above targets 16300/16450.
The index short term resistance is around 16450 and break above targets 16800/17000/17300.
Short term bearish invalidation only above 17300.
It is good to buy at dips around 15700 with SL around 15500 for the TP of 16000/16300

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[IFX Gertrude]

McDonald's Chairman Andrew McKenna to retire



Chairman Andrew McKenna of fast food chain McDonald's has decided not to join a re-election as a member of the board, the company said. McDonald's said it had named McKenna as Chairman Emeritus following his retirement and would elect a new independent chairman following the election of directors by shareholders at its annual meeting on May 26. McKenna had been part of the company since 1991.

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[IFX Gertrude]

Usd/sgd Flat in Ny Trading, ahead of 1.3550



USD/SGD found solid resistance overnight, closes in NY at 1.3527
Pair rose 0.4% on Thursday
MAS policy review meeting to be held on Apr 14, no easing forecasted.

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[IFX Gertrude]

Japan current account surplus rallies to 11-month peak



Japan's current account surplus recuperated in February, touching its highest in nearly a year, as profits from investments and loans almost doubled. Official figures showed the current account was at ¥2.434 trillion ($2.24 billion) from ¥520.8 billion ($80.39 billion) in January. Exports were at ¥5.643 trillion month-on-month, up 5.3%. Imports were at ¥5.218 trillion, down 9.5%. The surplus expanded to ¥1.733 trillion in February, the highest since March 2015. Trade balance recouped to ¥425.2 billion surplus.

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