Forex News from InstaForex

**InstaForex Gertrude** · 22-06-16, 07:06

Asian Stocks Steady, Sentiment Bleak Before Brexit

Asian stocks were steady as anxious investors await the results of the United Kingdom's EU referendum. Fed Reserve Chair Janet Yellen's cautious comments on possible rate hikes also toned down the mood in financial market.
MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.1% while Japan's Nikkei dropped 0.7%. U.S. S&P Index rose 0.27% but was still under the 11-month high reached earlier this June. The Pound jumped as high as $1.4788 on Tuesday but slid back to $1.4667 during early Asian Trade. The Euro also dropped to $1.1250 compared to this week's peak of $1.1383 on Monday.

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**InstaForex Gertrude** · 23-06-16, 05:49

Fxwirepro: Eur/gbp slips Below 78.6% Fib As Gbp Remains Bid on Bremain Sentiment

According to the latest poll, via Number Cruncher Politics, the Remain camp continues on the lead at 46%(+3 from previous) vs Leave 44% (-1 from previous), with undecided at 10 (-2 from previous).

Overnight, the latest polls via YouGov (online), showed Remain 51% and Leave 49%, while ComRes (phone) saw Remain 48% and Leave 42%.

The pound continues to be well bid in light of the most recent opinion polls' outcomes. EUR/GBP has slipped below the 78% Fibo level and is currently trading around 0.7645 levels.

Resistances on the upside align at 0.7656 (78.6% Fib of 0.7565 to 0.80 rally) ahead of 5-DMA at 0.77.

On the downside supports are seen at 0.7617 (Jan 21st low), 0.76 and then 0.7568 (200-DMA). Market sentiment could be volatile in the lead up to the vote and recent moves on currency markets remain vulnerable to swings/reversals.

Recommendation: Book partial profits, tighten trailing stops to 0.7656, target 0.7620/ 0.76

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**InstaForex Gertrude** · 23-06-16, 07:05

Japan’s manufacturing activity slumps in June

The Japanese manufacturing activity condensed in June based on an primary survey, but uncertainties persist on declining exports and supply chain interruptions due to earthquake.

Japan Flash Manufacturing PMI by Markit/Nikkei closed at 47.8 this month from 47.7 in May. The initial index for new orders touched 45.8 in June from 44.7 in the previous month.

Markit said the earthquakes in April have negatively impacted the PMI. It added employment slid to its lowest in nine months into growth, indicating additional stimulus may be necessary to boost the economy.

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**InstaForex Gertrude** · 24-06-16, 06:11

Briferendum Series: Global Markets Feel Newcastle Tremors

Results are coming out and some of them are a shocker. Newcastle was expected to be a stronghold for the “Remain” camp and was expected to provide somewhere around 12 percentage points lead to the “Remain” camp, instead, it was a very narrow lead in favor of the “Remain”. With 68 percent turnout, 65,504 people voted in favor of staying in the Union, while 63,598 favored going out. Newcastle was able to give a lead of only 1.4 percentage points to the “Remain” camp.

With such setbacks, it’s not going well for the “Remain” camp. According to latest figure, authorities have so far declared results in 184 local authorities and 188 are still remaining. It is not all looking good for the “Remain” camp. “Leave” camp is leading with 52 percent in their favor.

The pound has been declining fast after Newcastle shocker. Currently trading at 1.364 against the dollar, down more than 6 percent. The yen is up more than 3 percent trading at 101.3. S&P 500 is down 3.9%.

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**InstaForex Gertrude** · 24-06-16, 07:02

S&P 500 Futures Stumble as ‘Leave’ Camp Ahead in Early Referendum Tally

U.S. stock index futures dropped in after-hours trading as preliminary results from Britain's referendum to stay or leave the EU showed a lead for supporters of a British Exit or Brexit.

S&P E-mini futures was down 0.8% as early tally showed 52.6% of the vote for the “leave" camp and 47.4% for the “stay" camp. Sterling plunged down to $1.4351 against the greenback, erasing its earlier gains which elevated the pound its peak of beyond $1.50 this year after polls indicate that Britons had 52-48% to remain in the EU bloc. Futures on the VIX .VIX volatility index climbed 1.02 pts. to 17.7 as anxiety among investors increase.

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**InstaForex Gertrude** · 27-06-16, 04:42

Fxwirepro: Usd/jpy Stabilises Above 102.00 Mark, Bias Remains Bullish Above 101.48

USD/JPY is currently trading around 102.34 marks. It made intraday high at 102.47 and low at 101.50 levels. Intraday bias remains bullish till the time pair holds key support at 101.48 marks. A sustained close below 101.50 will drag the parity down towards key supports at 100.98, 99.27 and 98.82 levels respectively. Alternatively, a daily close above 103.45 is required to take the parity higher towards key resistances around 104.80, 106.12 and 107.46 levels respectively. Today is relatively calm session at the start of the new week. Markets expect range bound movement for the day.

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**InstaForex Gertrude** · 27-06-16, 05:50

Fxwirepro: Usd/jpy Stabilises Above 102.00 Mark, Bias Remains Bullish Above 101.48

USD/JPY is currently trading around 102.34 marks. It made intraday high at 102.47 and low at 101.50 levels. Intraday bias remains bullish till the time pair holds key support at 101.48 marks. A sustained close below 101.50 will drag the parity down towards key supports at 100.98, 99.27 and 98.82 levels respectively. Alternatively, a daily close above 103.45 is required to take the parity higher towards key resistances around 104.80, 106.12 and 107.46 levels respectively. Today is relatively calm session at the start of the new week. Markets expect range bound movement for the day.

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**InstaForex Gertrude** · 29-06-16, 05:41

Fxwirepro: South Korean Won Gains Sharply Against U.s. Dollar As Manufacturing Bsi Index Meets Expectations

USD/KRW is currently trading around 1165 levels.
It made intraday high at 1170 and low at 1165 levels.
Intraday bias remains bearish till the time pair holds key resistance at 1176 mark.
A sustained close below 1162 will tests key supports 1153/1142 (20D EMA)/ 1134/1127 (October 2015 low) /1121/1115 levels respectively.
Alternatively, a daily close above 1176 will drag the parity higher towards key resistances at 1182, 1196, 1201, 1209 (20D EMA) and 1220 (March 03, 2016 high) marks respectively.
In addition, South Korea’s Kospi was trading 1.18% higher at 1,959.92 points.
South Korea’s manufacturing BSI index stays flat at 72 vs previous 72.
We prefer to take short position in USD/KRW only below 1162, stop loss 1172 and target 1153/ 1145 marks respectively.

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**InstaForex Gertrude** · 29-06-16, 07:29

Istanbul Airport Bombed, 31 Dead, 150 Wounded

Ataturk Airport, the largest in Turkey and third busiest airport in the world, was the target of suicide bombers on Tuesday. Witnesses testified seeing 3 gunmen who opened fire to the people before setting off explosives.

Justice Minister Bekir Bozdag said that a total of 31 were killed while 150 got wounded as a result of the attack. No group is claiming responsibility for the bombing yet, but police sources say that evidences point out to the Islamic State. This is because the same incident showed semblance to the attack that happened in Brussels airport on March 16.

Turkey President Tayyip Erdogan meanwhile has expressed that terrorism nowadays has no regard on faith and values since the bombing took place during the Ramadan.

The country has suffered from a series of attack just this year. It included two car bombings in Ankara and two suicide attacks in Istanbul. Turkey is known to be actively fighting the Islamic State and Kurdish militants.

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**InstaForex Gertrude** · 30-06-16, 04:31

New Zealand Business Confidence Jumps In June - ANZ

Business confidence in New Zealand improved markedly in June, the latest survey from ANZ showed on Thursday with an index score of 20.2.
That's up from 11.3 in May.
The activity outlook jumped to 35.1 from 30.4 in the previous month.
The survey's inflation forecast came in at 1.49 percent - up from 1.39 percent a month earlier.

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**InstaForex Gertrude** · 30-06-16, 05:02

Largest Diamond Fails to Sell in Sotheby London Auction

The 1,109-carat diamond Lesedi la Rona or “our light” remained unsold at an auction at London after the highest bid of $61 million didn't meet the minimum expected selling price. The diamond was expected to sell at $86 million. However, the highest bid only reached $61 million, far from the given “reserve price”, leaving the biggest diamond found in more than 100 years unsold at a Sotheby's auction on Wednesday.

It is unclear what will happen to the diamond after the auction, but analysts are now looking at the potential of a private sale, most likely in a deal where Lucara Diamond Corp., the company who owns the Karowe mine where the diamond was unearthed, will still have some interest from the polished stones.

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**InstaForex Gertrude** · 01-07-16, 06:03

Tony Blair Suggest Leaders Remain Calm

Former British Prime Minister, Tony Blair call for a sense of urgency when dealing with the process of the European Union negotiations. Blair recently declared that “our nation is in peril” following the referendum and added that a foreseeable complex relationship will soon be shared with other countries. Further on, he urged politicians to act with “genuine patriotic regard” in relation to the future of the country. Surprised by how distant and uncertain former European partners to Britain are today he goes off with a concerned tone.

Blair suggests that in troubling times such as this the nation must portray a calm united front of supporting each other. The Labour party politician insists that this not be the time for another argument regarding the referendum and that politicians must be open to anything. He also mentioned for leaders to keep a cautious eye on Ukip leader Nigel Farage at the European parliament

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**InstaForex Gertrude** · 04-07-16, 04:36

Fxwirepro: Silver Rises 3.25 Pct to $20.42, Marks Highest Since August 2014

XAG/USD is currently trading around $20.35 marks.
It made intraday high at $20.43 and low at $19.65 levels.
Intraday bias remains bullish till the time pair holds immediate support at $19.70 marks. A sustained close above $20.43 tests key resistances at $20.78, $21.09 and $21.46 marks respectively.
On the other side, a daily close below $20.00 will take the parity down towards key supports at $19.88, $19.48, $19.34, $19.12 and $19.09 marks respectively.
Important to note here that in a daily chart, 20D, 30D and 55D EMA heads up and confirms the bullish trend.

We prefer to take long position in XAG/USD only above $20.43, stop loss at $19.70 and target $20.78/ $21.09 mark

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**InstaForex Gertrude** · 04-07-16, 08:21

Russian tycoon Prokhorov's Onexim Group assets on sale – Vedomosti

Russian newspaper Vedomosti on Monday said Onexim Group, which is owned by billionaire tycoon Mikhail Prokhorov, has put all its assets on sale. Onexim owns stakes in aluminium giant Rusal, potash firm Uralkali and power generator Quadra. The investment fund firm did not respond for comment. In April, it was reported that offices of Onexim were searched for a tax investigation by Russian law enforcement officials.

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**InstaForex Gertrude** · 05-07-16, 06:17

Canadian Dollar Drops Against Most Majors

The Canadian dollar weakened against most major currencies in the Asian session on Tuesday.
The Canadian dollar fell to a 4-day low of 79.18 against the yen, from yesterday's closing value of 79.81.
Against the euro and the U.S. dollar, the loonie dropped to 1.4349 and 1.2892 from yesterday's closing quotes of 1.4322 and 1.2845, respectively.
If the loonie extends its downtrend, it is likely to find support around 76.00 against the yen, 1.46 against the euro and 1.31 against the greenback.

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**InstaForex Gertrude** · 05-07-16, 06:54

Line Lifts IPO Price Range to Meet High Demand

Japan's Line Corp., the nation's biggest messaging application operator moved its price range for an upcoming IPO by as much as 115.5 billion yen or $1.12 billion due to the strong demand.

Line lifted its price range from 2,700 yen to 3,200 yen a share up to 2,900 yen to 3,300 yen or $28.50-$32.50 a share. The company is targeting a dual listing in Tokyo and New York scheduled on July 14 and 15. It is expected to be the biggest technology listing so far in 2016.

Line stated in a news release that its decision to lift its price range has factored in demand trends and the current stock market environment that revealed that investors remain interested on the IPO regardless of the market disruption post-Brexit.

The Japanese firm is offering 13 million shares and 22 million shares in Japan and New York, respectively. An additional 5.25 million shares could be offered via a “green shoe” option, which enables the offering of more shares in case of exceptional demand.

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**InstaForex Gertrude** · 06-07-16, 04:06

Fxwirepro: Usd/jpy Breaks Key Support at 101.39, Intraday Bias Remains Bearish

USD/JPY is currently trading around 101.19 marks.
It made intraday high at 101.76 and low at 101.05 levels.
Intraday bias remains bearish till the time pair holds key resistance at 102.80 marks.
A daily close above 103.39 will take the parity higher towards key resistances around 103.78, 104.80, 106.12 and 107.46 levels respectively.
On the other side, a sustained break below 101.39 will drag the parity down towards key supports at 100.98a, 99.27 and 98.82 levels respectively.
No major economic data is scheduled from Japan but on the other side, US will release ISM non manufacturing PMI as well as FOMC meeting minutes later today.

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**InstaForex Gertrude** · 08-07-16, 05:57

Oil Prices Recover from Two-Month Lows

Oil prices rose from two-month lows in the prior session on Friday, when prices plunged 5% on information that the U.S. weekly draw was below the forecast.

Brent crude futures traded at $46.88 per barrel, rising 48 cents or 1.03% from their last settlement while U.S. crude rose to $45.51 a barrel by 0.82% or 37 cents. The Energy Information Administration reported that U.S. commercial crude stocks climbed down by 2.22m barrels to 524.35 million barrels, a lower withdrawal rate than what was expected by most traders.

The Brent is expected to average at $51 per barrel and $52 per barrel in the third quarter and fourth quarter of this year respectively by the Global Risk Management.

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**InstaForex Gertrude** · 11-07-16, 06:26

Fxwirepro: Singapore Dollar Erases Previous Gain Against US Dollar, Bias Turns Bullish

USD/SGD is currently trading around 1.3460 marks.
It made intraday high at 1.3580 and low at 1.3432 levels.
Intraday bias remains bullish till the time pair holds key support at 1.3432 marks.
A daily close below 1.3432 will drag the parity down towards key supports at 1.3357 (April 20, 2016 low)/1.3318/1.3302/ 1.3271 levels.
Alternatively, a sustained close above 1.3538 will tests key resistances at 1.3646, 1.3799, 1.3836, 1.3851(March 16, 2016 high), 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover).
Important to note here that, 20D, 30D and 55D EMA heads down and confirm the bearish trend. Current downside movement is short term trend correction only.

We prefer to take long position in USD/SGD around 1.3450, stop loss 1.3410 and target 1.3502/ 1.3538 marks.

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**InstaForex Gertrude** · 11-07-16, 06:59

Nikkei surges to 3.6 percent

Following the rise of U.S. stocks, Japan's Nikkei share average surged to more than 3 percent and by mid-morning the currency topped to 3.6 percent. In wake of the landslide victory of the coalition, Prime Minister Shinzo Abe's win has produced market confidence and has also directed a message to foreign investors that his policies are a sign for future growth.

Everyone in the Topix was in a bullish mood. Continuing last week's profit, Nintendo Co increased more than 20 percent with optimism that their new Pokemon GO smartphone will produce better outcome. Panasonic Corp surged by 6.6 percent and anticipates its lithium-ion batteries from Tesla Motors Inc to boost annual sales in the following years. The demand for exports produced a 3.7 percent rise for Toyota Motor Co and 3.8 percent for Tokyo Electron Ltd. JPX-Nikkei Index 400 increased to 3.4 percent with 11,245.46

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