Forex News from InstaForex

[IFX Gertrude]

Fxwirepro: Usd/thb Rejects Key Resistance at 34.55 After Bot Kept Interest Rate Steady



USD/THB is currently trading around 34.48 marks.

It made intraday high at 34.49 and low at 34.41 marks.

Intraday bias remains neutral till the time pair holds key resistance at 34.55 mark. On the top side, key resistances are seen at 34.55, 34.61, 34.72, 34.85, 34.97, 35.11, 35.20, 35.32, 35.42, 35.62, 35.74, 35.84, 35.93, 36.01, 36.08 and 36.39 marks respectively.

Alternatively, a daily close below 34.41 will drag the parity down towards key supports around 34.32, 34.20 and 34.01 marks respectively.

Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.

We prefer to take short position in USD/THB only below 34.41, stop loss at 34.55 and target of 34.32.

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[IFX Gertrude]

New Zealand Business Confidence Index Slips In March



Business confidence in New Zealand receded in March, the latest survey from NBNZ Bank showed on Friday with an index score of +11.3.

That's down from 16.6 in February, although it remains in positive territory - which signals that optimists outnumber pessimists.

The bank also said that its activity outlook had a score of 38.8, up from 37.2 in the previous month.

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[IFX Gertrude]

Dudley: Fed Rate Hikes Suitable to Counter Overheating Risk



Interest rate rises are appropriate to curb the threat of overheating, according to a Federal Reserve official.

New York Fed President William Dudley said Thursday it deems suitable to cut down on monetary policy accommodation gradually to lower the peril of the economy overhearing as well as avert a substantial inflation overshoot in the medium-term.

He noted the federal funds rate are still unusually low even after the Fed increased rates this month.

Noting significant uncertainties and risks overseas, the Fed official said the economic view abroad seems to improve and the dangers are largely lower than before.

Dudley also said the American economy has continued to grow moderately above its attainable long-term rate. He added inflation and growth threats are off to the upside.

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[IFX Gertrude]

Australia Retail Sales Slip 0.1% In February



The total value of retail sales in Australia was down a seasonally adjusted 0.1 percent on month in February, the Australian Bureau of Statistics said on Monday - coming in at A$25.691 billion.

That missed forecasts for an increase of 0.3 percent following the 0.4 percent gain in January.

By category, food retailing was up 0.3 percent, followed by cafes, restaurants and takeaway food services (0.1 percent), and other retailing (0.1 percent).

Clothing, footwear and personal accessory retailing was unchanged (0.0 percent). Household goods retailing (-0.1 percent), and Department Stores (-0.1 percent) were down.

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[IFX Gertrude]

Gold Prices Steady, Bolstered by Lacklustre U.S. Data



Gold prices were steady after posting their best quarter in a year, buoyed by tepid economic data from the U.S. and dovish comments from Federal Reserve officials on Friday.

Spot gold was mostly flat at $1,2480.50 an ounce while U.S. gold futures settled at $1,251. Spot gold touched a quarterly gain of nearly 8.4 percent on Friday, posting its best quarter in a year.

The U.S. mint sold 21,000 ounces of American Eagle gold coins in March, lower by 23.6 percent from the month earlier, according to new data. The demand for the precious metal in India increased this week as a result of a festival and as local prices adjusted to an appreciating rupee, while higher prices held demand elsewhere in Asia.

Hedge funds and money managers increased their net long position in COMEX gold for the second consecutive week in the week to March 28, and raised it slightly in silver, according to U.S. Commodity Futures Trading Commission data on Friday.

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[IFX Gertrude]

South Korea March Inflation +0.3% On Month



Consumer prices in South Korea were up 0.3 percent on month in March, Statistics Korea said on Tuesday - in line with expectations and unchanged from the previous month's reading.

On a yearly basis, inflation jumped 2.2 percent - exceeding expectations for 1.8 percent and up from 1.9 percent in the previous month.

Core CPI, which excludes volatile food prices, gained 0.2 percent on month and 1.4 percent on year.

That follows the 0.2 percent monthly increase and the 1.5 percent yearly gain in the previous month.

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[IFX Gertrude]

Fed Official Stands Pat on Two More Rate Hikes this 2017



An official reiterated the Federal Reserve should increase rates for at least two times this 2017 in order to avert moving behind the curve or hastening its toughening plans.

Philadelphia Fed President Patrick Harker noted Monday he still presumes it is the sound judgment, adding the rate hike tempo is slowly and is conforming with expectations.

Last month, the Fed escalated interest rates again following three months, nodding to stable jobs expansion and cues the inflation may be increasing.

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[IFX Gertrude]

UK Shop Prices Slide 0.8% In March - BRC



Shop prices in the United Kingdom were down 0.8 percent on year in March, the British Retail Consortium said on Wednesday.

That was in line with expectations following the 1.0 percent decline in February.

Food prices were up 1 percent on year in March, while non-food prices were down 2.0 percent.

In all, non-food prices have been mired in deflation for four years.

News are provided byInstaForex.

[IFX Gertrude]

Wall Street Flat as Trump-Xi Meeting Eyed



U.S. equities closed little changed ahead of the meeting between President Donald Trump and Chinese President Xi Jinping. Investors remained passive ahead of the first-quarter earnings season and fretted about Trump's ability to deliver his economic agenda.

The Dow Jones industrial average climbed 0.19 percent to 20,689, as Caterpillar led gains while Nike lagged behind. The S&P 500 added 0.06 percent to 2,360, as financials led four sectors down while energy was the best performer. The Nasdaq composite edged up 0.07 percent to 5,898.

The S&P industrial sector climbed 0.2 percent and the materials sector rose 0.4 percent. The S&P bank subsector fell 0.3 percent. Airlines traded lower, as American Airlines tumbled 3.7 percent to $40.90 after Delta Airlines Inc trimmed the forecast for a key revenue metric for the second time in less than a month. Shares of Delta slipped 2.6 percent to $45.11.

Ralph Lauren declined 4.5 percent to $77.74. The retailer's concerns appeared to be a worrying sign for a sector that is losing ground to online rivals. Shares of Nordstrom Inc fell 5.5 percent and L Brands Inc dropped 4.4 percent following a brokerage downgrade.

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[IFX Gertrude]

Hong Kong Business PMI Climbs To 49.9 - Nikkei



The private sector in Hong Kong continued to contract in March, albeit barely, the latest survey from Nikkei revealed on Thursday with a PMI score of 49.9.

That's up from 49.6 in February, although it remains below the boom-or-bust line of 50 that separates expansion from contraction.

Individually, output expanded for the first time in nearly two years, although new orders continued to decline.

Also, firms cut prices despite ongoing cost inflation.

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