Forex News from InstaForex

[IFX Gertrude]

Strong Quarterly Results, Upbeat 2017 Forecast Boost Boeing Shares



Boeing Co. reported positive quarterly profit and operating cash and issued an optimistic outlook for the performance of the company in 2017 as it benefits from its aggressive cost-cutting measures, increasing productivity and President Donald Trump's pro-growth stance.

The company's stock surged almost 5% to $168.50 on Wednesday after the firm reported it is projecting to generate a record $10.75 billion in operating cash this 2017.

The total is higher compared to the record $10.5 billion in 2016 and is significantly higher than the $10.4 billion that analysts had projected for the current year.

Boeing projected core earnings of $9.10 to $9.30 per share this year, up from the $7.24 in 2016. It expects to deliver around 760-764 commercial carriers in 2017 and surpass its 748 deliveries in 2016.

After experiencing a slowdown in orders for new jetliners, Boeing has concentrated on streamlining plants to reduce costs and increase profits. The company also took advantage of the lower cost of parts for its 787 jet as the plane hit crucial production milestones, as it delivered its 500th 787 jet in December.

CEO Dennis Muilenburg said an increase in cost-savings and productivity was behind the company's strong performance and revenue guidance. He assured that the progress will not slow down in these aspects.

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[IFX Gertrude]

Australia Q4 Producer Prices Climb 0.5%



Final demand producer prices in Australia advanced 0.5 percent on quarter in the fourth quarter of 2016, the Australian Bureau of Statistics said on Friday.

That was in line with expectations and up from 0.3 percent in the third quarter.

On a yearly basis, final demand producer prices added 0.7 percent. That also matched expectations and was up from 0.5 percent in the three months prior.

Domestic prices were up 0.7 percent on quarter and 1.2 percent on year, while import prices fell 0.6 percent on quarter and 3.6 percent on year.

The gains were mainly due to rises in the prices received for building construction (+0.7 percent), petroleum refining and petroleum fuel manufacturing (+12.5 percent) and accommodation (+5.3 percent).

They were offset by falls in the prices received for electronic equipment manufacturing (-1.5 percent), professional and scientific equipment manufacturing (-2.1 percent) and other machinery and equipment manufacturing (-1.8 percent).

Intermediate demand producer prices were up 0.6 percent on quarter and 1.0 percent on year in Q4.

The gains were mainly due to rises in the prices received for petroleum refining and petroleum fuel manufacturing (+10.2 percent), coal mining (+53.3 percent) and 0il and gas extraction (+7.1 percent).

They were offset by falls in the prices received for basic polymer manufacturing (-6.1 percent), professional and scientific equipment manufacturing (-3.5 percent) and rental and hiring services (-0.7 percent).

Preliminary demand producer prices picked up 0.6 percent on quarter and 0.9 percent on year in the fourth quarter.

The gains were mainly due to rises in the prices received for petroleum refining and petroleum fuel manufacturing (+11.0 percent), coal mining (+53.4 percent) and oil and gas extraction (+6.7 percent).

They were offset by falls in the prices received for pharmaceutical and medicinal product manufacturing (-13.6 percent), professional and scientific equipment manufacturing (-5.9 percent) and basic polymer manufacturing (-6.0 percent).

Also on Friday, the bureau said that export prices in Australia surged 12.4 percent on quarter in the fourth quarter of 2016. That exceeded forecasts for 12.1 percent and was up sharply from 3.5 percent in the third quarter.

Import prices added 0.2 percent on quarter - beneath forecasts for 0.4 percent following the 1.0 percent contraction in the three months prior.

On a yearly basis, export prices jumped 12.4 percent, while import prices sank 4.6 percent.

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[IFX Gertrude]

Dollar Climbs as Focus on U.S. GDP



The dollar inched up and rebounded from a seven-week low on optimism regarding the U.S. economic outlook and corporate earnings, however the protectionist policies of U.S. President Donald Trump raised unease for global trade. The dollar index was last at 100.47. The index made a rebound overnight, after slipping to a seven-week low of 99.793.

U.S. equities and Treasury yields have increased in the past few weeks, driven by the upbeat U.S. economic outlook and Trump's indications of raised public spending, but concerns on potentially new barriers have added pressure to the dollar in the last two weeks. The U.S. currency is on course to weaken 0.2 percent against the basket of currencies of its trade-weighted rivals for the week. Investors are concerned about Trump's plans to build a U.S-Mexican border wall to prevent illegal immigration. The Mexican peso weakened more than 0.5 percent versus the dollar after reports of the border tax.

The dollar last fell 0.1 percent against the Japanese currency to 114.40 yen. The greenback rebounded overnight from a low of 113.045 to 114.860, climbing 1.1 percent. The euro was last at $1.0681 versus the dollar, after falling from the day's peak of $1.0766, a level near a seven-week peak.

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[IFX Gertrude]

Fxwirepro: Usd/thb Rejects Key Resistance at 35.33, Good to Sell on Rallies



USD/THB is currently trading around 35.25 marks.
It made intraday high at 35.32 and low at 35.25 marks.
Intraday bias remains bearish till the time pair holds key resistance at 35.33 marks.
On the top side key resistances are seen at 35.33, 35.41, 35.67, 35.74, 35.84, 35.93, 36.01, 36.08, 36.39 and 36.66 marks respectively.
Alternatively, a daily close below 35.29 will drag the parity down towards key supports around 35.18, 35.04, 34.83, 34.64, 34.51 and 34.20 marks respectively.
We prefer to take short position in USD/THB around 35.28, stop loss 35.41 and target of 35.04.

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[IFX Gertrude]

Dollar Edges Down on Flat U.S. Growth Data



The dollar edged down on Monday, retreating from a one-week peak against a basket of currencies as Treasury yields fell on data which showed that the U.S. expanded at a slower-than-expected pace. The greenback fell 0.35 percent at 114.660 against the Japanese yen after climbing to 115.380, its highest since Jan 20.

The latest data released showed that U.S. gross domestic product expanded at a 1.9 percent annualised pace in the last three months of 2016, in comparison to a 3.5 percent rate in the third quarter. The dollar index against a basket of major currencies declined to a seven-week low of 99.793 before climbing to a one-week peak of 100.820 a day after. The index was last 0.2 percent off at 100.350. Focus on the market is between U.S. President Donald Trump's protectionist angle, perceived as negative for the dollar, and prospects of fiscal stimulus under the new administration, seen as positive for the greenback.

The euro strengthened and was last 0.3 percent higher at $1.0733. The pound rose 0.3 percent at $1.2593 versus a relatively weaker dollar while the Australian dollar climbed 0.1 percent at $0.7555.

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[IFX Gertrude]

Australia Business Conditions Index Jumps In December - NAB



Business conditions in Australia improved sharply in December, the latest survey from National Australia Bank showed on Tuesday with an index score of +11.

That's up from +5 in November, and it moves further into positive territory.

The index for business confidence also improved, moving up to +6 from +5 a month earlier.

News are provided byInstaForex.

[IFX Gertrude]

Fitbit Shares Sink Following Unsatisfactory Quarterly Results



Shares of Fitbit tumbled by as much as 18% after it announced trimming its workforce and it reported lower-than-anticipated financial results during the fourth quarter.

The stock managed to reverse some of its losses, but still closed the session almost 16% down.

In a release issued on Monday, the wearable fitness device maker said its layoffs will impact 110 people within its workforce across different divisions which makes up around 6% of the company's total global labor force. The expenses of the reorganization are anticipated to cost around $4 million, which will be included during the first quarter of 2017.

The firm added that it projects to post 6.5 million sales of devices and revenue during the Q4 of 2016 to be within the range of $572 million- $580 million, a steep drop from the company's initially issued guidance range of $725 million-$750 million.

Revenue growth for the previous business year is seen to be around 17% from the prior projected expansion of 25% to 26%.

News are provided byInstaForex.

[IFX Gertrude]

China Manufacturing PMI Slips To 51.3 In January



The manufacturing sector in China continued to expand in January, albeit at a slightly slower pace, the National Bureau of Statistics said on Wednesday with a manufacturing PMI score of 51.3.

That exceeded expectations for 51.2, although it was down from 51.4 in December.

The bureau also said that its non-manufacturing PMI came in at 54.6 in January, in line with forecasts and up from 54.5 in the previous month.

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[IFX Gertrude]

Gold Notches Week High on Trump Comments



Gold prices advanced to a one-week peak as rattled investors purchased bullion after U.S. President Donald Trump's comments on currency devaluation by other countries caused the dollar to decline. Spot gold was up 1.4 percent to $1,211.15 per ounce after hitting its highest level since Jan. 24 at $1,215.37.

U.S. gold futures were 1.3 percent higher at $1,208.60. The dollar plunged as stocks sealed their largest loss in six weeks as Trump added uncertainty to the market after bans on travel to the United States. The weaker dollar helped raise bullion, while traders focused on the two-day Federal Reserve meeting that kicked off during the session. Funds have been reduced out of the $30 billion SPDR Gold ETF for 10 out of the 11 weeks since the Nov. 8 elections, which includes a one percent loss in the week ended on Jan. 25, according to data from Lipper.

In other metals, spot silver rose 2.6 percent at $17.55 per ounce after tapping its highest since Nov. 11 at $17.61. Platinum climbed 0.8 percent to $993.40, and is set for its highest monthly performance since July, and palladium gained 1.9 percent at $754.20.

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[IFX Gertrude]

Australia December Trade Surplus A$3.511 Billion



Australia had a merchandise trade surplus of A$3.511 billion in December, the Australian Bureau of Statistics said on Thursday.

That exceeded forecasts for A$2.00 billion and was up from the upwardly revised A$2.040 billion surplus in November (originally A$1.234 billion).

Exports were up 5.0 percent on month to A$32.630 billion, while imports added 1/0 percent to A$29.120 billion.

News are provided byInstaForex.