Forex News from InstaForex

[IFX Gertrude]

Gold at 4-Month High on Monday on Safe-Haven Metal Demand



Spot gold was firm at $1,278.21 an ounce by 0046 GMT, near a four-month high of $1,281.50 reached on Friday. The metal gained nearly 5 percent last week after Switzerland unexpectedly abandoned a cap on the franc. Dealers assumed that the Swiss National Bank had moved with the knowledge that the European Central Bank would take the plunge into full scale quantitative easing at its policy meeting on Jan. 22. The euro flirted with 11-year lows early on Monday as investors braced for the ECB to take its boldest steps yet to combat deflation and revive the euro zone economy.

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[IFX Gertrude]

U.S. Dollar Rises Against Majors



The U.S. dollar strengthened against the other major currencies in the Asian session on Tuesday. The greenback rose to near a 2-week high of 1.5056 against the pound, a 1-week high of 118.30 against the yen and a 5-day high of 0.8797 against the Swiss franc, from yesterday's closing quotes of 1.5109, 117.53 and 0.8786, respectively. Moving away from an early 5-day low of 1.1931 against the Canadian dollar, the greenback edged up to 1.1971. Against the euro, the greenback edged up to 1.1572 from yesterday's closing value of 1.1600. If the greenback extends its uptrend, it is likely to find resistance around 1.49 against the pound, 120.08 against the yen, 1.02 against the Swiss franc, 1.20 against the loonie and 1.14 against the euro.

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[IFX Gertrude]

Australia Consumer Confidence Rebounds In January



Consumer confidence in Australia bounced back in January, the latest sentiment index from Westpac Bank showed on Wednesday - rising a seasonally adjusted 2.4 percent to a score of 93.2. That follows the 5.7 percent plunge to 91.1 in December. The six-month index average remains at its lowest level since July 2009. In the release, the bank noted that the better than expected December employment numbers gave the index a boost, while declining oil prices also were a factor. That said, the bank still expects a rate cut from the Reserve Bank of Australia next month.

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[IFX Gertrude]

Gold slips from $1,300 on Profit-Taking ahead of Ecb



Spot gold fell 0.2 percent to $1,291 an ounce by 0027 GMT. The metal reached $1,305, its highest since August, on Wednesday. After a quick climb of about 9 percent this month, traders are adjusting positions ahead of the ECB policy meet. The metal has rallied on safe-haven bids from political and economic uncertainties in Europe, along with concerns over the health of the global economy. The ECB is poised to announce a plan on Thursday to buy government bonds, resorting to its last big policy tool for breathing life into the flagging euro zone economy and fending off deflation.

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[IFX Gertrude]

Usd/myr Heavy Below 3.6030, to Open Lower

USD/MYR trade previous high/breakout, 3.5850-3.62 range Pair could see fresh buying due to economic woes, extended selling in oil/commodities FX reserves as at 15 Jan at USD111.2bln vs 116.0 bln as at end Dec 2014 NDFs traded 3.5940-3.61 range overnight, closed 3.5965-3.6015 in NY

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[IFX Gertrude]

Usd/idr mixed Around the 12500 Pivot



Fall in commodities/ minerals ps to impact exports, IDR BI said no adjustment to policy rate likely till inflation stables Govt sees Jan CPI 7.5%y/y vs 8.36% in Dec, sees trade balance +USD100mln IDR NDFs traded 12520-12500 range overnight, closed 12490-12515 in NY

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[IFX Gertrude]

Usd/idr propped Higher on Risk Aversion, Resistance Around 12550 Yesterday

Approaching month end demand from corporates added to bidding interests Foreign selling on bond related inflows to cont to cap rallies USD/IDR likely to trade 12480-12520 range intraday - flows to remain mixed NDFs ranged between 12545-12560 overnight, closed 12525-12555 in NY

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[IFX Gertrude]

Australia Inflation Slows To 1.7% In Q4



Consumer prices in Australia were up just 1.7 percent on year in the fourth quarter of 2014, the Australian Bureau of Statistics said on Wednesday. That was below forecasts for 1.8 percent, and down from 2.3 percent in the third quarter. On a quarterly basis, inflation added just 0.2 percent versus forecasts for 0.3 percent and down from 0.5 percent in the previous three months. The Reserve Bank of Australia's trimmed mean was up 0.7 percent on quarter and 2.2 percent on year in Q4, while the weighted median added 0.7 percent on quarter and 2.3 percent on year.

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[IFX Gertrude]

Foreign Investors Re-Invest in Japan Stocks - Mof



Foreign investors bought Net Y466.9 bln in Japan stocks. Volume: trln buys vs trln sales Foreign investors also buy net Y237.5 bln Japan bonds, Y476.1 bln bills. Japanese buy net Y45.6 bln foreign bonds Jan 24 week, sold Y397.2 bln last. Volume: net Y382.1 bln foreign stocks, Y285.9 bln bills.

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[IFX Gertrude]

Australia Private Sector Credit Adds 0.5% In December



Total private sector credit in Australia was up 0.5 percent on month in December, the Reserve Bank of Australia said on Friday - in line with expectations and unchanged from the previous month. On a yearly basis, credit jumped 5.9 percent - also matching forecasts and unchanged from November. Housing credit added 0.6 percent on month and 7.1 percent on year, while personal credit was flat on month and added 0.9 percent on year and business credit gained 0.5 percent on month and 4.8 percent on year. The M3 money stock advanced 0.7 percent on quarter and 7.7 percent on year.

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