Forex News from InstaForex

[IFX Gertrude]

Australia Building Permits Surge 11.3% In July



The total number of building permits issued in Australia was up a seasonally adjusted 11.3 percent on month in July, the Australian Bureau of Statistics said on Tuesday - coming in at 20,987.

That beat forecasts for an increase of 1.1 percent following the 2.9 percent contraction in June.

On a yearly basis, building approvals climbed 3.1 percent versus expectations for a decline of 8.3 percent after slipping 5.9 percent in the previous month.

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[IFX Gertrude]

U.S. Dollar Increases as Traders Expect Interest Rate Hike



The U.S. dollar has reached its highest level in three weeks which follows expectations regarding the Federal Reserve interest rate hike which could happen as soon as September. Traders are looking for indicators which show that the dollar may rise even further against the yen, euro and other emerging-market currencies.

The Wall Street Journal Dollar Index decreased by four percent in the year to date. According to U.S. Commodity Futures Trading Commission and Scotiabank data, bets regarding a stronger dollar was at $7.18 billion. Federal Reserve Chair Janet Yellen and Vice Chairman Stanley Fischer have both stated that the current economy was strong enough for an increase in the federal-funds in 2016. The comments drove the largest one-day rally in two months in the WSJ Dollar index.

According to CME Group data, most traders expect an increase of rates done only once in the following year while Fed-funds futures have shown that they only see a 30% chance of an increase twice by next July.

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[IFX Gertrude]

Japan Industrial Production Unchanged In July



Industrial output in Japan was flat on month in July, the Ministry of Economy, Trade and Industry said on Wednesday.

That missed forecasts for an increase of 0.7 percent following the 2.3 percent jump in June.

On a yearly basis, industrial production fell 3.8 percent - also missing forecasts for a decline of 3.0 percent following the 1.5 percent drop in the previous month.

Upon the release of the data, the METI maintained its assessment of industrial production, saying that it continues to fluctuate indecisively but shows signs of increasing in parts.

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[IFX Gertrude]

Dollar Climbs to One-Month High while Investors Weigh on Fed Rate Hike

The U.S. dollar increased to a one-month high against a basket of currencies while investors carry on by assessing the next increase in interest rates. The WSJ Dollar Index increased by 0.6 percent to 87.06 bound to its highest closing level since July 28.

The dollar increased by 1.1 percent against the Japanese yen to ¥103.05. The euro slipped by 0.4 percent to $1.1143. According to CME Group data, investors currently see a 27 percent likelihood of a Federal Reserve rate increase in September as well as a 55 percent likelihood in December. A gauge of U.S. consumer confidence during August increased to its highest level in almost a year as a different report has shown that consumer spending was also up for the fourth consecutive month in July.

The dollar was higher against emerging market-currencies. The dollar climbed against the Mexican peso by 0.8 percent and also increased against the South African rand by 0.6 percent.

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[IFX Gertrude]

Indonesia Manufacturing Sector Moves To Expansion - Nikkei



The manufacturing sector in Indonesia turned to expansion in August, the latest survey from Nikkei showed on Thursday with a manufacturing PMI score of 50.4.

That's up from 48.4 in July, and it moves above the boom-or-bust line of 50 that separates expansion from contraction.

Individually, there was a rebound in order book, which fueled the mild increase in output.

Manufacturers lowered their selling prices, in spite of rising costs. Buying levels increase, although employment fell.

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[IFX Gertrude]

British Government to Proceed with Brexit



U.K.'s government will reportedly “push ahead” to set off Brexit despite the absence of Parliamentary approval, according to Downing Street.

Following a meeting of Prime Minister Theresa May's cabinet at Chequers, a statement released said ministers reach an agreement regarding the need for a distinct deal for the United Kingdom. This involved controls on European Union migration and a “positive outcome” on trading, Downing Street reported. May told cabinet members Britain would not remain in the EU in an unofficial way.

May reiterated that official negotiations with the rest of the European Union members regarding the Brexit will not start this year.

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[IFX Gertrude]

Fxwirepro: South Korean Won Almost Flat Against Usd Despite Higher Than expected Gdp Data



USD/KRW is currently trading around 1,118 levels. It made intraday high at 1,119.30 and low at 1,118.40 marks. Intraday bias remains neutral till the time pair holds key support at 1,107 levels.
A sustained close below 1,107 will test key supports at 1,092/1,078/1,063/1044 levels respectively.
Alternatively, a daily close above 1,128 will drag the parity higher towards key resistances at 1,128, 1,138, 1,142, 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.
In addition, South Korea’s Kospi was trading around 0.05 percent lower at 2,032.32 points.
South Korea’s Q2 GDP growth increases to 0.8 % vs previous 0.7 %. South Korea’s Q2 GDP growth y/y increases to 3.3 % vs previous 3.2 %.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.

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[IFX Gertrude]

Stocks Ended Slightly Changed Ahead of Job’s Report



Major U.S. stock indexes rose and then closed slightly changed prior to the job's report. The August job's data will be a significant indicator for the Federal Reserve official's decision regarding the interest-rate hike.

The decline of oil prices have pulled down energy shares, however stocks increased near the closing of the session.The S&P 500's energy sector slipped by 0.3 percent and shares of Chevron dropped to 37 cents or 0.3 percent to $100.21. The S&P 500's financial shares was down by 0.4 percent. The broader S&P 500 slightly changed by declining 0.004 percent to 2170.86. The Nasdaq Composite increased by 0.3 percent to 5227.21 while shares of technology jumped. The Dow Jones Industrial Average climbed by 0.1 percent to 18419.30. In the blue-chip index, Wal-Mart Stores drove gains surging by two percent to 72.84.

The Institute for Supply Management has announced that the manufacturing activity index was down to 49.4 in August.

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[IFX Gertrude]

Fxwirepro: Usd/krw Remains Well supported Below Key Resistance at 1,122, Consistent Break Above Targets 1,142



USD/KRW is currently trading around 1,117 levels.

It made intraday high at 1,119 and low at 1,115 marks.

Intraday bias remains neutral till the time pair holds key resistance at 1,122 levels.

A daily close above 1,122 will drag the parity higher towards key resistances at 1,138, 1,142, 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 1,107 will test key supports at 1,092/1,078/1,063/1044 levels respectively.
In addition, South Korea’s Kospi was trading around 0.84 percent higher at 2,055.32 points.

Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.

News are provided byInstaForex.[/I]

[IFX Gertrude]

Dollar Strengthens after U.S. Payroll Data



The U.S. dollar strengthens following the disappointing U.S. employment growth figures for August which only slightly affected the perception of investors regarding the Federal Reserve's likelihood of increasing the interest rates in the following months. Nonfarm payrolls increased by 151,000 jobs in August, according to the U.S. Labor Department.

Average hourly wage earnings increased by 0.1 percent, which falls behind the 0.2 percent growth of market expectations. As the increase of the average payroll during the last three months tops 200,000, investors have then concluded that the jobs report would not be a severe impact to the Fed's plan to lift interest rates. U.S. fed funds futures price is at a 20 percent likelihood of a rate hike this September and a 60 percent odds by the end of the year.

The dollar's index against a basket of six major currencies .DXY=USD was buoyed as it immediately gained from its one-week low of 95.189 following the payroll data.

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