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Forex News from InstaForex

Discussion in 'Market News' started by InstaForex Gertrude, Apr 1, 2016.

  1. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Japan Monetary Base Climbs 21.5% In November

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    The monetary base in Japan was up 21.5 percent on year in November, the Bank of Japan said on Friday - coming in at 417.657 trillion yen.

    That follows the 22.1 percent spike in October.

    Banknotes in circulation added 4.7 percent on year, while coins in circulation gained 1.0 percent.

    Current account balances surged an annual 28.2 percent in November, including a 26.8 percent jump in reserve balances.

    The adjusted monetary base soared 26.0 percent to 412.167 trillion yen, after rising 17.9 percent a month earlier.

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  2. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Dollar Edges Down after Solid November Gains

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    The dollar slipped against a basket of currencies, with traders booking gains after a positive November on speculation of a stronger U.S. economy under the administration of Trump and ahead of the government payrolls report. The dollar index was down 0.4 percent to 101.06.

    The pound climbed as much as nearly 1.6 percent to a three-week peak against the U.S. currency of $1.2696. The dollar retreated from a previous nine-month high against the yen at 114.82, before slipping 0.4 percent to 114.03 yen in late trading. The euro firmed after a report that the European Central Bank will continue its bond buying beyond next March and has considered to send a formal signal next week that the asset purchase program will sometime end. The dollar's weak beginning in December mirrored higher U.S. Treasury yields after a positive data on manufacturing and construction spending.

    The dollar index hit a 13-1/2-year high of 102.05 the previous week, and for November it advanced 3.1 percent. The euro rose 0.6 percent at $1.0649.

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  3. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    China Services PMI Jumps To 53.1 In November - Caixin

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    The services sector in China continued to expand in November, and at a faster pace, the latest survey from Caixin showed on Monday with a PMI score of 53.1.

    That's up from 53.4 in October, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

    The survey also showed that the composite index was unchanged at 52.9.

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  4. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    British Government Unveils $634 Billion Infrastructure-Investment Plan

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    The U.K. mapped out its infrastructure-investment plan, disclosing 500 billion pounds or $634 billion worth of projects slated to be launched in the following years.

    Government investment constitutes around 40% of the infrastructure-investment pipeline after British Finance Minister Philip Hammond detailed plans for a National Productivity Investment Fund in November estimated to amount to 23 billion pounds. Infrastructure projects included are the Thames Tideway Tunnel, smart meters and upgrading the A14 highway located in eastern England.

    Funding from the private represents more than half of the pipeline to 2020-2021, aiding in delivering projects varying from transport and internet connectivity to flood defenses and housing, according to the Treasury.

    In a statement, Treasury Chief Secretary David Gauke said the spending plan is a clear indication that the government is intent on ensuring that U.K.'s infrastructure is up to date.

    Enhancing productivity using targeted investments was the major goal laid out by Hammond during his Autumn Statement as he readies the British economy from any Brexit-induced shocks.

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  5. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Australia Q3 Current Account Deficit A$11.358 Billion

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    Australia's seasonally adjusted current account deficit narrowed to A$11.358 billion in the third quarter of 2016, the Australian Bureau of Statistics said on Tuesday - owing to higher export commodity prices.

    That follows the A$15.943 billion shortfall in the three months prior.

    The balance on goods and services marked a deficit of A$4.682 billion following the A$7.381 billion shortfall in Q2.

    Net exports of GDP eased 0.2 percent, unchanged from the previous quarter. The net goods and services surplus fell A$871 million (61 percent) to A$561 million.

    Exports of goods and services climbed A$2.860 billion (4 percent) and imports of goods and services gained A$162 million. The primary income deficit fell A$1.946 billion (24 percent).

    Australia's net international investment position was a liability of A$1,043.3 billion at 30 September 2016, increasing 1 percent on the revised 30 June 2016 position of A$1,037.9 billion.

    Australia's net foreign debt liabilities increased A$0.8 billion to a net liability position of A$1,048.5 billion.

    Australia's net foreign equity assets tumbled A$4.6 billion (47 percent) to a net asset position of A$5.2 billion.

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  6. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Oil Prices Retreat as Supply Rises Ahead of 2017 Production Cut

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    Oil prices fell in early Asian trading as crude production in almost all major export regions despite a planned production cut by OPEC and Russia, raising fears that an oil glut that has persisted in the market for more than two years might extend into its third year in 2017.

    International Brent crude oil futures traded down 39 cents at $54.44 per barrel, declining 0.7% from their last finish. Meanwhile, the U.S. WTI crude futures were down 47 cents or 0.9%, at $51.32 a barrel.

    Traders said the decline in prices were caused by the increasing production from OPEC and Russia. The producer cartel's production has posted another record high in the previous month, scaling to 34.19 million bpd in November from the 33.82 million bpd in October. On Friday, Russia said its average daily production reached 11.21 million bpd last month, its highest daily output in nearly three decades.

    Their combined output alone attributed for almost half of total global oil demand, which is currently at the 95 million bpd level.

    The alarmingly high production figures comes just after OPEC and Russia struck a historic deal to cap output in 2017 which caused oil prices to rally, causing investors to worry that the planned cut will not be big enough to dent the oil glut.

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  7. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Fxwirepro: Eur/krw Rejects Key Resistance at 1,260 Mark, Downside Limited

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    EUR/KRW is currently trading around 1,253 mark.
    Pair made intraday high at 1,255 and low at 1,252 levels.
    Intraday bias remains slightly bearish till the time pair holds immediate resistance at 1,254 mark.
    A sustained close above 1,254 will take the parity higher towards key resistance around 1,260, 1,269 and 1,272 marks respectively.
    Key supports are seen at 1,248, 1,242, 1,238, 1,227, 1,222 and 1,210 marks respectively.
    Seoul shares open up 0.29 pct.
    We prefer to go long on EUR/KRW around 1,250, with stop loss at 1,242 and target of 1,260/1,268/1,272.

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  8. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Oil Sinks on Skepticism Supply Cut Will Be Big Enough to End Glut

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    Prevailing apprehension that a planned crude output cut by OPEC and Russia would be strong enough to end the two-year oil glut in the market pulled down oil prices on Wednesday.

    Benchmark Brent crude oil futures traded down 24 cents or 0.45% at $53.69 per barrel, while U.S. WTI crude futures slipped 19 cents or 0.37% from their last finish at $50.74 per barrel.

    Oil prices rallied as high as 19% after OPEC and Russia struck a deal to jointly limit output in 2017 in a move to support the oil market.

    However, skepticism have since surfaced about whether the planned production cuts will be strong enough to end oversupply as both parties involved in the agreement reported record production volumes in the previous month.

    With virtually almost every crude exporting region producing at record amounts, there is persisting skepticism in the market how both parties will be able to commit to the Vienna production cut targets, analysts said, adding that the higher their production, the higher the starting point of the cut will be.

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  9. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    China CPI +2.3% On Year In November

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    Consumer prices in China were up 2.3 percent on year in November, the National Bureau of Statistics said on Friday.

    That exceeded expectations for 2.2 percent and was up from 2.1 percent in October.

    On a monthly basis, inflation added 0.1 percent after easing 0.1 percent a month earlier.

    The bureau also said that producer prices surged an annual 3.3 percent versus forecasts for 2.3 percent following the 1.2 percent gain in the previous month.

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  10. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Dollar Climbs as Euro Falls on ECB Decision

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    The dollar climbed against the yen and euro, as the common currency plunged overnight after the European Central Bank's move to extend the debt-purchasing programme. The ECB announced that it would cut its monthly asset purchases to 60 billion euros as of April.

    The euro shortly increased to almost a one-month high, with the decision seen as a form of policy tapering. However, the common currency retraced its advances as the central bank's move offset any increase from the reduction of its debt purchasing amount. The euro stood flat at $1.0616. The dollar strengthened at 114.070 yen. Investors are currently focused on the Federal Reserve. The likelihood of a Fed rate hike next week has nearly been fully priced in the market.

    The dollar index was steady at 101.100 and is on track to climb 0.3 percent this week. The Australian dollar was flat at $0.7458.

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  11. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Japan Core Machine Orders Jump 4.1% In October

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    Core machine orders in Japan were up 4.1 percent in October, the Cabinet Office said on Monday - coming in at 878.3 billion yen.

    That beat forecasts for a gain of 1.1 percent following the 3.3 percent decline in September.

    On a yearly basis, core machine orders tumbled 5.6 percent - shy of expectations for a fall of 4.9 percent following the 4.3 percent gain in the previous month.

    The total number of machinery orders, including those volatile ones for ships and from electric power companies, added 1.2 percent on month but tumbled 15.8 percent on year to 984.2 billion yen.

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  12. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Iran-Boeing Deal Valued at $16.6 Billion

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    The agreement between Iran's national carrier and Boeing Co. regarding a purchase of 80 aircrafts that is valued at $16.6 billion, will eventually force both the Congress and President-elect Donald Trump to balance their diplomatic priorities with U.S. job expansion. According to a company statement, the deal will include 50 737 MAX 8s, 15 7777-300ERs and 15 777-9s.

    The Islamic Republic News Agency has reported that the aircraft will be delivered over ten years and will start in 2018. The report has also cited Iran Air Chief Executive Officer Farhad Parvaresh. Boeing has remarked that the deal was acquired under the conditions of a U.S. government license that was issued in September and will also support nearly 100,000 jobs in the U.S. aerospace industry. The bill regarding the deal was recently approved by the House in November and currently awaits Senate action.

    The value of the deal worth $16.6 billion is based on list prices ahead of large discounts that have been established for major airlines.

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  13. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    China Industrial Output Jumps 6.2% In November

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    Industrial production in China was up 6.2 percent on year in November, the National Bureau of Statistics said on Tuesday.

    That exceeded expectations for an increase of 6.1 percent, which would have been unchanged from the October reading.

    The bureau also said that retail sales jumped an annual 10.8 percent - again topping forecasts for 10.2 percent and up from 10.0 percent in the previous month.

    Also, fixed asset investment advanced 8.3 percent on year - in line with expectations and unchanged from the previous month.

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  14. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    U.S. Stocks Lower as Dow Hits Record Close

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    Stocks ended mostly lower as oil prices surged and Treasury yields jumped prior to the Federal Reserve meeting. The Dow Jones Industrial Average reached a 15th record finish, while financial firms pulling down major U.S. stock indexes.

    The Dow Jones Industrial Average gained 0.2 percent at 19,796.43, the S&P 500 slipped 0.11 percent at 2,256.96 while the Nasdaq Composite fell 0.59 percent at 5,412.54. The blue-chip index climbed for the sixth straight session to reach another record high, as advances in Exxon Mobil and Johnson & Johnson helped counterbalance the lows in American Express and Goldman Sachs Group. The S&P 500's financial sector finished lower in four sessions since Nov. 8. The Nasdaq Biotechnology Index edged down 0.7 percent.

    Energy shares rallied alongside oil prices following an announcement from a group of oil producers who agreed to reduce their output with the Organization of Petroleum Exporting Countries. The S&P 500's energy sector gained 0.7 percent. Exxon Mobil was up 2.2 percent to $90.98. FMC Technologies climbed two percent to 36.08 while Helmerich & Payne added 1.7 percent to 83.18.

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  15. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    BoJ Tankan: Large Manufacturers' Index Steady At +10 In Q4

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    An index monitoring business sentiment in Japan was unchanged in the fourth quarter of 2016, the Bank of Japan said on Wednesday in its quarterly Tankan business survey.

    The large manufacturers' index came in with a score of +10, in line with expectations and up from +6 in the previous quarter.

    The outlook came in at +8, shy of expectations for +9 but up from +6 in the three months prior.

    The survey is closely watched by the Bank of Japan for formulating policies.

    The large non-manufacturers index was at +18, unchanged from Q3 although missing forecasts for +19.The outlook score was +16, also unchanged but shy of forecasts for +18.

    Large industry capex for the current fiscal year is now seen higher by 5.5 percent, missing forecasts for 6.1 percent and down from 6.3 percent in the previous quarter.

    The small manufacturing index came in at +1, beating expectations for -1 and up from -3 in the third quarter. The outlook was -4, missing forecasts for -2 after showing -5 in the three months prior.

    The small non-manufacturing index had a score of 2, in line with forecasts and up from 1 in the previous quarter. The outlook came in at -2, unchanged although shy of forecasts for +1.

    The sentiment indexes are derived by subtracting the percentage of respondents who say conditions are poor from those who say they are good. A positive reading means optimists outnumber pessimists.

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  16. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Gold Slips on U.S. Federal Reserve Meeting

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    Gold inched lower, as the Federal Reserve started its two-day meeting where it is widely anticipated to deliver the second U.S. interest rate raise in a decade and will also give some observation regarding the outlook on 2017. U.S. gold futures were down 0.6 percent at $1,159 an ounce.

    Markets have implied nearly a 100 percent likelihood of a quarter-point hike. Spot gold fell 0.6 percent to $1,155.65 per ounce. Investors await further clues as to how the U.S. central bank will handle inflation that might arise from the expansionary policies of President-elect Donald Trump and economic growth expectations. SPDR Gold Trust (GLD) also dropped, which reflects the lacklustre sentiment on the precious metal.

    Silver fell 1.3 percent at $16.85 per ounce. Platinum edged up 0.3 percent at $933.80 while palladium climbed 0.9 percent at $728.10.

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  17. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Australia Jobless Rate Climbs To 5.7%

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    The unemployment rate in Australia was a seasonally adjusted 5.7 percent in November, the Australian Bureau of Statistics said on Thursday.

    That missed forecasts for 5.6 percent, which would have been unchanged from the October reading.

    The Australian economy added 39,100 jobs in November, far surpassing forecasts for a gain of 17,500 following the addition of 9,800 jobs in the previous month.

    The participation rate jumped to 64.6 percent, beating expectations for 64.5 percent and up from 64.4 percent a month earlier.

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  18. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    GM, Ford Shares Tumble After Report China Will Penalize Unnamed U.S. Carmaker

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    Shares of U.S. automakers stumbled after Zhang Handong, a senior Chinese state planning official, cautioned that Beijing could slap penalties on an unnamed U.S. carmaker over price-fixing.

    The warning, which was delivered via the China Daily newspaper, came in the heels of U.S. President-elect Donald Trump's remarks questioning whether America should standby its commitment to the “One China” policy.

    Chinese authorities have been probing and reviewing the pricing practices of carmakers ahead of Trump's remarks, sources stated.

    Trump's controversial remarks which have broken diplomatic protocols have shaken U.S. corporations who are dependent on the steady U.S.-sino relations. A spokesperson for Trump's transition team said they are aware of the report but stated that it would be premature to respond.

    GM shares lost 2.2% while Ford fell 1.0% following the report's publication. In a statement, GM did not confirm if it was being investigated by the Chinese government. Meanwhile, Ford's Asia-Pacific business said the firm was not knowledgeable of the issue.

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  19. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Fxwirepro: Eur/krw Breaks Key Support at 1,232 Mark, Stay Bearish

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    EUR/KRW is currently trading around 1,230 mark.
    Pair made intraday high at 1,232 and low at 1,229 levels.
    Intraday bias remains bearish till the time pair holds immediate resistance at 1,242 mark.
    A sustained close above 1,242 will take the parity higher towards key resistance around 1,255, 1,260, 1,269 and 1,272 marks respectively.
    On the other side, a consistent close below 1,230 will drag the parity down towards key supports around 1,222, 1,218, 1,209, 1,203, 1,199 and 1,163 marks respectively.
    Seoul shares open up 0.03 pct at 2037.35.
    We prefer to go short on EUR/KRW around 1,235 with stop loss at 1,242 and target of 1,222/1,209.

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  20. InstaForex Gertrude

    InstaForex Gertrude Well-Known Member Trader

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    Oil Prices Rise on Reports of Kuwait’s Deeper-than-Expected Production Cuts

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    Oil prices rose on Friday as sentiment was lifted by reports that Kuwait was cutting its production by more than initially anticipated beginning January as it fulfills its commitment to a coordinated effort by crude producers to curb a global oil glut.

    International Brent crude oil futures traded up 20 cents or 0.37% from their last close at $54.22 per barrel. U.S. WTI crude futures also rose 24 cents or 0.47%, trading at $51.14 per barrel.

    Prices edged up after OPEC member Kuwait told its customers that it will reduce its supply starting January as part of its commitment to a deal between OPEC and other producers to lower output by around 1.8 million bpd to help rebalance the oil markets.

    Kuwait Petroleum Corporation stated that it has told its customers that it will cap its production in accordance with the OPEC deal. Traders observed that prices rose as KPC indicated that it was cutting supplies more than previously anticipated and beyond the operational capacity

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