Forex News from InstaForex

**InstaForex Gertrude** · 16-10-15, 04:53

US stocks rebound on earnings report

US shares rallied following it recorded two days of losses Thursday, bolstered by the third quarter earnings report of the financial sector. The S&P's financial sector ended up 2.3% for its best trading day in over a month. Citigroup rose 4.4% following it surpassed projections. A Reuters data showed 67% of the companies that reported earnings so far have outmatched analyst estimates. The Dow Jones Industrial Average settled at 17,141.75, up 1.28%, the Nasdaq Composite ended at 4,870.10, up 1.82%, and the S&P 500 closed at 2,023.86, up 1.49%. The surge of stocks was merely a bounce back, as none of the fundamentals have become “decisive enough to take you away from the technical battle that's going on,” said Jim Paulsen, Chief Investment Officer at Wells Capital Management.

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**InstaForex Gertrude** · 16-10-15, 07:49

Malaysian Ringgit Slides To 2-day Low Against U.S. Dollar

The Malaysian ringgit weakened against the U.S. dollar in the Asian session on Friday. Against the greenback, the ringgit fell to a 2-day low of 4.1888. At yesterday's close, the ringgit was trading at 4.1100 against the greenback. If the ringgit extends its downtrend, it is likely to find support around the 4.35 area.

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**InstaForex Gertrude** · 21-10-15, 06:34

Ease Of Doing Business: India Amends Transfer Pricing Rules

As part of efforts to improve its ranking on 'Ease of Doing Business' and in line with the promise made by Finance Minister Arun Jaitley in his Budget speech, the Indian government on Tuesday notified amendments to the transfer pricing rules to incorporate a "range concept" and use of multi-year data in line with the international best practices. The amended regime will be applicable for computation of arms. The amended rules would provide clarity in determination of price in transfer pricing cases and reduce disputes on transfer pricing (TP) issues. The use of multiple-year data would average out any variations in a particular year and add value to the transfer pricing analysis. The range concept will be applicable in certain cases for determining the price and will begin with the 35th percentile and end with the 65th percentile of the comparable prices. Transaction price shown by the taxpayers falling within the range will be accepted and no adjustment will be made. The amended regime will be applicable for computation of Arm's Length Price (ALP) of international transactions and specified domestic transactions undertaken on or after 1/04/2014. The news rules are designed to provide stability in the direct tax regime. The notification is available on the website of the Department incometaxindia.gov.in.

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**InstaForex Gertrude** · 22-10-15, 06:47

Taiwan Sep Jobless Rate Rises More Than Expected

Taiwan's unemployment rate climbed more-than-expected in September after remaining stable in the prior month, figures from the Directorate General of Budget Accounting and Statistics, or DGBAS, showed Thursday. The jobless rate rose to a seasonally adjusted 3.79 percent in September from 3.74 percent in August. Economists had expected the unemployment rate to increase slightly to 3.75 percent. The latest unemployment rate was the highest since December 2014, when it marked 3.82 percent. On an unadjusted basis, the unemployment rate edged up to 3.89 percent in September from 3.88 percent in the prior month. The number of unemployed people increased to 442,000 in September from 435,000 in the preceding month. The labor force participation rate came in at 58.69 percent in September, up from 58.65 percent a month ago.

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**InstaForex Gertrude** · 23-10-15, 05:03

China Leading Index Jumps 1.6% In September - Conference Board

A leading economic index for China spiked in September, the latest survey from Conference Board revealed on Friday, climbing 1.6 percent. That follows the 1.0 percent increase in August and the 0.9 percent gain in July. The coincident index skidded 1.2 percent after rising 0.7 percent in August and 1.0 percent in July. "China's economic situation, as measured by the coincident index, slowed substantially in September, due to very weak consumer demand and a struggling industrial sector," said Andrew Polk, resident economist at the Conference Board China Center in Beijing.

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**InstaForex Gertrude** · 26-10-15, 05:47

Australian Dollar Rises Against Majors

The Australian dollar strengthened against the other major currencies in the Asian session on Monday. The Australian dollar rose to nearly a 2-week high of 0.9544 against the Canadian dollar, from Friday's closing value of 0.9492. The aussie advanced to 87.79 against the yen and 1.5212 against the euro, from last week's closing quotes of 87.63 and 1.5258, respectively. Against the U.S. and the New Zealand dollars, the aussie edged up to 0.7247 and 1.0715 from last week's closing quotes of 0.7211 and 1.0674, respectively. If the aussie extends its uptrend, it is likely to find resistance around 0.97 against the loonie, 91.00 against the yen, 1.49 against the euro, 0.74 against the greenback and 1.09 against the kiwi.

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**InstaForex Gertrude** · 29-10-15, 05:54

Eurozone Leading Index Remains Flat In September

A measure of future economic activity in Eurozone remained unchanged in September, survey figures from the Conference Board showed Wednesday. The Conference Board's Leading Economic Index, or LEI, for the euro area showed no variations in September, following a 0.2 percent increase in August. "The Euro Area Leading Economic Index was unchanged in September, and its six-month change has slowed in recent months, suggesting economic activity is unlikely to accelerate in the coming months," said Ataman Ozyildirim, Director of Business Cycles and Growth Research at The Conference Board. "However, the stock market has recently rebounded and after last week's ECB meeting, the business investment climate may solidify, providing an opportunity for sustained growth in the Euro Area in 2016." The coincident index, which measures current economic activity, edged up 0.1 percent in September after remaining flat in the previous month.

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**InstaForex Gertrude** · 30-10-15, 03:48

Japan Inflation Flat On Year In September

Consumer prices in Japan were flat on year in September, the Ministry of Internal Affairs and Communications said on Friday. That matched expectations while slowing from 0.2 percent in August. Core inflation, which excludes the volatile costs of food prices, was down 0.1 percent on year. That was unchanged but beat forecasts for a decline of 0.2 percent. On a monthly basis, overall inflation added 0.1 percent while core inflation was flat.

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**InstaForex Gertrude** · 30-10-15, 06:13

Commodity investors see the end of plunge

It took 21 months to overcome the decline following commodity prices plunged in 1997. After plummeting alongside the global economy in 2008, commodities touched the floor in only eight months. The Bloomberg Commodity Index has been declining for four years. The benchmark, from its most recent high in May 2011, is off by half and snapping its lowest levels of the 21st century. Investors are asking if the commodity prices have finally bottomed, and have expressed their woes the stock market is overhauled and bond prices are at risk of interest rate hikes. “It's top of mind for anyone looking at the market,” said Norbert Ruecker, Head of Commodities Research at Julius Baer. Many investors believe the plunge in commodities is over as prices are lower than the production cost. As a response, unprofitable producers are cutting back.

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**InstaForex Gertrude** · 02-11-15, 06:14

NZ Dollar Edges Up Against Most Majors

The New Zealand dollar strengthened against most major currencies in the Asian session on Monday. The NZ dollar rose to 0.6785 against the U.S. dollar and 81.73 against the yen, from last week's closing quotes of 0.6768 and 81.65, respectively. Against the euro, the kiwi edged up to 1.6258 from Friday's closing value of 1.6241. If the kiwi extends its uptrend, it is likely to find resistance around 0.69 against the greenback, 83.00 against the yen and 1.61 against the euro.

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**InstaForex Gertrude** · 02-11-15, 08:02

Asian markets plunge ignited by weak Chinese data

Asian markets plummeted Monday as China reported weak factory activities in October, fueling global growth concerns. Official figures showed the Caixin purchasing manager's index ended at 48.3 from 47.2 in September. The MSCI Asia Pacific Index tumbled 0.6%, while Japan's Nikkei retreated 1.7%. Hong Kong's Hang Seng China Enterprises Index slipped 0.4%. The Shanghai Composite Index lost as much as 1.6% to trade 0.1% higher. Global market woes ignited selling while the market became vulnerable to “profit-taking from last week's gains,” said Hikaru Sato, Senior Technical Analyst at Daiwa Securities.

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**InstaForex Gertrude** · 03-11-15, 06:33

Nasdaq 100 hits 15-year peak as US shares soar

A broad advance in US shares jolted the Nasdaq 100 index above its July peak, another trace of recovery from the equity meltdown in summer. The index rose 1.2%, extending its advance from the August 25 low to 17%, making it the first major index of US stocks to regain a multiyear high reached earlier this year. Also, the Standard & Poor's 500 Index remains more than 1% from its May 21 high of 2,130.82. The Dow Jones Industrial Average climbed 2.6%. Increases in the index have come from the largest computer and software firms. Amazon surged 35%, Microsoft leaped 32%, and Facebook added 24%. Apple Inc. has rallied 17% after it dropped 21% in the summer rout. US shares joined a global rally in stocks as manufacturing activity in China slowed, which subdued demand from equity investors looking for signs of strength elsewhere.
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**InstaForex Gertrude** · 04-11-15, 03:37

China Services PMI Rebounds In October - Caixin

The services sector in China expanded again in October and at a faster pace, the latest survey from Caixin revealed on Wednesday with a PMI score of 52.0. That's up from 50.5 in September, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction. Individually, new orders and employment were stronger, although business sentiment tumbled to a 10-year low. The composite index moved to 49.9, up from 48.0 in September.

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**InstaForex Gertrude** · 06-11-15, 05:34

UK Permanent Job Placement Growth At 4-Month High

Permanent job placements in the U.K. increased at the fastest pace in four months in October, the Report on Jobs compiled by the Recruitment and Employment Confederation and KPMG showed Friday. The number of people placed in permanent jobs climbed further in October and the growth was solid and sharpest in four months. Similarly, temporary and contract staff billings rose at a faster pace, marking the strongest growth in three months. At the same time, the availability of staff for permanent jobs continued to decline in October, although easing to the lowest since January. Overall vacancies continued to rise at a marked pace in October. Considering the regional and sector variation, the strongest rise in permanent placements was recorded by Midlands-based consultancies, followed by the North. Rates of expansion in the South and London were modest.

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**InstaForex Gertrude** · 09-11-15, 05:47

IMF's Lagarde push Gulf nations to unveil tax, spending reforms

International Monetary Fund Managing Director Christine Lagarde urged Gulf Arab oil nations to implement tax and spending reforms to control budget deficits. Low oil prices have cut state revenues in the Gulf Cooperation Council. All of the countries have started to limit spending, but so far, most have inhibitions in taking measures to reduce consumers' disposable income. Lagarde pressed governments to slow growth of their current spending, referring to their practice of giving high-paying jobs to their citizens to secure political support. As of present, most GCC citizens work for the public sector. The IMF head also urged them, including Saudi Arabia and the United Arab Emirates, to unveil a regional value-added tax the soonest possible.

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**InstaForex Gertrude** · 09-11-15, 08:16

European Economics Preview: German Foreign Trade Data Due

Foreign trade figures from Germany and investor sentiment from euro area are due on Monday, headlining a light day for the European economic news. At 2.00 am ET, Destatis is set to publish external trade figures for September. German exports are forecast to rise 2 percent on a monthly basis in September and imports to grow 1 percent. Economists forecast the trade surplus to rise to EUR 21 billion from EUR 15.3 billion in August. At 3.00 am ET, consumer prices and unemployment from the Czech Republic are due. Inflation is expected to remain unchanged at 0.4 percent in October. The jobless rate is forecast to ease marginally to 5.9 percent in October from 6 percent in September. In the meantime, the Turkish Statistical Office is slated to issue industrial production for September. At 4.30 am ET, Eurozone Sentix investor sentiment data is due. The investor confidence index is expected to rise to 12.7 in November from 11.7 in October. At 5.30 am ET, the Organisation for Economic Co-operation and Development is set to publish Economic Outlook. Eurozone finance ministers are set to meet in Brussels today. The Eurogroup will be updated on the state of play regarding the implementation of Greece's economic adjustment programme, including the disbursement of EUR 3 billion.

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**InstaForex Gertrude** · 12-11-15, 03:43

US oil prices struggle to shy away from two-month low

US crude prices on Thursday held close to more than two-month lows following a sharp slump on woes the market will need a longer time to rebalance as supplies exceed demand. Benchmark US crude futures CLc1 settled at $43.15 a barrel, up 22 cents. Prices dropped 3% in the light of high production, higher US stocks, and Asian economic slowdown. Meanwhile, emerging markets worldwide are dealing with an escalating debt mountain which impends growth.

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**InstaForex Gertrude** · 13-11-15, 03:20

Slumping commodity prices distress global markets

Global equity markets came under pressure as commodity prices slumped, despite continuing concerns about the risks to commodities from lower demand and oversupply. Copper fell to $4,800 tonne in London, its lowest since July 2009, before it slightly recuperated to $4,823. In the United States, the S&P 500 closed at 2,046, up 1.4%, as the energy and basic materials sectors slid 2.3% and 2%, respectively. In Europe, the FTSEurofirst 300 dropped 1.6%, its worst level since late September, as the mining sub-index lost 5.1%. The Shanghai Composite Index slipped 0.5%, but was still up around 24% from its August lows. The market has been unsettled by recent figures leading to sluggish industrial growth in China, even as the London Metal Exchange disclosed inventories of copper were escalating.

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**InstaForex Gertrude** · 13-11-15, 05:07

Pound Falls Against Majors

The British pound weakened against the other major currencies in the Asian session on Friday. The pound fell to a 2-day low of 186.45 against the yen, from yesterday's closing value of 186.71. Against the U.S. dollar and the Swiss franc, the pound dropped to 1.5208 and 1.5230 from yesterday's closing quotes of 1.5231 and 1.5221, respectively. The pound edged down to 0.7097 against the euro, from an early high of 0.7087. If the pound extends its downtrend, it is likely to find support around 184.00 against the yen, 1.50 against the greenback, 1.50 against the franc and 0.72 against the euro.

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**InstaForex Gertrude** · 13-11-15, 05:59

Eur/usd :watch Out for 1.0800 for Further Bullishness

EUR/USD has made a low of 1.06911 and started to recover from that level. It is currently trading around 1.07915. Short term trend is till weak as long as resistance 1.0800 holds. The pair has been struggling to break above 1.0800 for the past four trading session and break above confirms short term bullishness, a jump till 1.0900/1.1000 cannot be ruled out . On the downside major support is around 1.0660 and break below targets 1.0600. The pair's minor support is around 1.0750 and below that level decline till 1.0700/1.0680 is possible. It is good to buy only above 1.0800 with SL around 1.0748 for the TP of 1.0900/1.1000.

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