Forex News from InstaForex

**InstaForex Gertrude** · 13-09-16, 05:02

China Industrial Production Expands 6.3% In August

Industrial production in China climbed 6.3 percent on year in August, the National Bureau of Statistics said on Tuesday - beating forecasts for a gain of 6.2 percent and up from 6.0 percent in July.

On a monthly basis, output expanded 0.5 percent.

The bureau also said that retail sales advanced an annual 10.6 percent - again exceeding expectations for 10.2 percent, which would have been unchanged from the previous month.

Fixed asset investment gained 8.1 percent on year, beating forecasts for 7/9 percent and unchanged from the July reading.

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**InstaForex Gertrude** · 14-09-16, 06:30

Fxwirepro: Usd/sgd Hits Fresh 3-Month High at 1.3685, Bias Remains Bullish

USD/SGD is currently trading around 1.3664 marks.

It made intraday high at 1.3681 and low at 1.3658 levels.

Intraday bias remains bullish till the time pair holds key support at 1.3605 marks.

A sustained close above 1.3660 will test key resistances at 1.3732, 1.3799, 1.3836, 1.3851(March 16, 2016 high), 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover).

On the other side, a daily close below 1.3605 will drag the parity down towards key supports at 1.3538/1.3462/1.3391/1.3347/1.3313/1.3302/ 1.3271 levels.

Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.

We prefer to go long on USD/SGD only above 1.3685 with stop loss at 1.3605 and target of 1.3799.

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**InstaForex Gertrude** · 15-09-16, 04:37

New Zealand GDP Gains 0.9% In Q2

New Zealand's gross domestic product climbed 0.9 percent on quarter in the second quarter of 2016, Statistics New Zealand said on Thursday.

That missed forecasts for an increase of 1.1 percent and was unchanged from the upwardly revised 0.9 percent growth in the first quarter (originally 0.7 percent).

Individually, construction was up 5.0 percent, after a 5.1 percent increase in the previous quarter. All construction sub-industries increased.

On a yearly basis, GDP expanded 3.6 percent - matching expectations and up from 2.8 percent in the three months prior.

Household consumption expenditure was up 1.9 percent, driven by spending on services and durable goods.

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**InstaForex Gertrude** · 15-09-16, 07:16

Dollar Declines With Hike Rate Bets

The U.S. dollar declined while investors bet that an interest rate hike by the Federal Reserve in the coming months is unlikely. The Wall Street Journal Index decreased by 0.2 percent at 86.67.

Fed-funds futures has shown that traders and investors have assigned a 48 percent chance of an interest rate hike by December, according to the CME. Data has shown that the likelihood of an increase at the Sept.20-21 Fed meeting is at 15 percent. The dollar declined against the Japanese yen by 0.1 percent at 102.43 while the euro increased by 0.2 percent at 1.1248.

In emerging markets, the dollar increased by one percent to 19.27 against the Mexican peso and it declined by 0.4 percent to 65.15 against the Russian ruble.

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**InstaForex Gertrude** · 16-09-16, 06:44

Oil Headed for Weekly Loss on Prospect of Oil Glut Persistence

Oil is set for a weekly loss on outlook that a global crude will continue as halted supply production resumed and as demand expansion slumped.

Oil futures dropped by 0.6% in New York, adding up the weekly losses to 4.9%. Oil producers Libya and Nigeria, whose supplies have been cut back by local conflicts, are getting ready to bolster exports in the following weeks. The International Energy Agency said on Tuesday that the oil oversupply will persist as demand growth slows and as supply sustains its momentum.

U.S. W.T.I. dropped by 26 cents to $43.65 per barrel while the benchmark Brent dropped by as much as 0.8% to $46.23 per barrel.

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**InstaForex Gertrude** · 19-09-16, 05:47

Fxwirepro: South Korean Won Opens Onshore Trade at 1,125.5 Per U.s. Dollar, Consistent Break Above Targets 1,142

USD/KRW is currently trading around 1,123 levels.

It made intraday high at 1,125 and low at 1,107 marks.

Intraday bias remains bearish till the time pair holds key resistance at 1,127 levels.

A daily close above 1,127 will drag the parity higher towards key resistances at 1,142, 1,152, 1,162, 1,176, 1,182, 1,196, 1,201, 1,209 (20D EMA) and 1,220 (March 03, 2016 high) marks respectively.

On the other side, a sustained close below 1,122 will test key supports at 1,107/1,090/1,078/1,063/1,044 levels respectively.
In addition, South Korea’s Kospi was trading around 0.40 percent higher at 2,007.62 points.
We prefer to go short on USD/KRW around 1,125 with stop loss at 1,132 and target of 1,1

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**InstaForex Gertrude** · 19-09-16, 07:13

Dollar Gains after U.S. Data Boosts Bets on Fed Rate Increase

The U.S. dollar reached a two-week high against a basket of major currencies as U.S. consumer prices increased more than initially expected during August, which boosted expectations regarding a potential Federal Reserve interest rate hike this 2016. The dollar index last traded as high as 96.108, its strongest level since Sept. 1.

The data regarding the increase in U.S. consumer prices indicated a steady rise of inflation which makes the Fed eligible for a Fed rate hike this year. The core CPI was up by 2.3 percent in the 12 months until August. U.S. short-term interest rate futures are currently indicating a 55 percent likelihood of an interest rate hike by December, according to CME Group's FedWatch Tool.

The U.S. dollar against the Japanese yen eased by 0.1 percent to 102.20 yen while the euro was steady at $1.1160.

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**InstaForex Gertrude** · 20-09-16, 05:53

Australia House Prices Rise 2.0% In Q2

House prices in Australia were up 2.0 percent on quarter in the second quarter of 2016, the Australian Bureau of Statistics said on Tuesday.

That missed forecasts for 3.0 percent following the 0.2 percent decline in the previous three months.

By region, capital city residential property price indexes rose in Sydney (+2.8 percent), Melbourne (+2.7 percent), Brisbane (+1.1 percent), Canberra (+2.2 percent), Adelaide (+0.8 percent) and Hobart (+0.7 percent) and fell in Perth (-1.2 percent) and Darwin (-2.4 percent).

On a yearly basis, house prices advanced 4.1 percent - also missing estimates for 5.2 percent and down from 6.8 percent in the three months prior.

Annually, residential property prices rose in Melbourne (+8.2 percent), Canberra (+6.0 percent), Hobart (+4.9 percent), Brisbane (+4.3 percent), Sydney (+3.6 percent) and Adelaide (+3.5 percent) and fell in Darwin (-6.5 percent) and Perth (-4.8 percent).

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**InstaForex Gertrude** · 22-09-16, 06:22

Fxwirepro: Usd/sgd Hits Fresh 2-Week Low at 1.3510, Consistent Break Below Targets 1.3462

USD/SGD is currently trading around 1.3530 marks.

It made intraday high at 1.3546 and low at 1.3510 levels.

Intraday bias remains bearish till the time pair holds key resistance at 1.3605 marks.

A daily close below 1.3510 will drag the parity down towards key supports at 1.3462/1.3391/1.3347/1.3313/1.3302/ 1.3271 levels.

Alternatively, a sustained close above 1.3605 will test key resistances at 1.3698, 1.3732, 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 up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.

We prefer to go short on USD/SGD only below 1.3510 with stop loss at 1.3605 and target of 1.3462/1.3391.

Read more: https://www.instaforex.com/forex-new...ent_break.html

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**InstaForex Gertrude** · 23-09-16, 06:08

Fxwirepro: South Korean Won Opens Onshore Trade at 1,103.1 Per Dollar, Faces Key Support at 1,101

USD/KRW is currently trading around 1,105 levels.

It made intraday high at 1,106 and low at 1,103 marks.

Intraday bias remains bullish till the time pair holds key support at 1,101 levels.

A daily close above 1,112 will drag the parity higher towards key resistances at 1,125, 1,142, 1,152, 1,162, 1,176, 1,182, 1,196, 1,201, 1,209 (20D EMA) and 1,220 (March 03, 2016 high) marks respectively.

On the other side, a sustained close below 1,101 will test key supports at 1,090/1,078/1,063/1,044 levels respectively.

In addition, South Korea’s Kospi was trading around 0.17 percent higher at 2,053.52 points.

South Korean won opens onshore trade at 1,103.1 per dollar vs 1,103.3 at previous close.
We prefer to go long on USD/KRW only above 1,107 with stop loss at 1,101 and target of 1,125/1,142.

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**InstaForex Gertrude** · 26-09-16, 06:03

Oil Bounces Back After Algeria Says All Options Possible at OPEC Meeting

Oil prices rebounded after Algeria's energy minister Noureddine Bouterfa stated that all options were possible for an oil production cut or freeze during this week's informal meeting of OPEC members. The statement comes after oil prices fell by 4% on Friday amid indications that Saudi Arabia and Iran were making little headway in reaching a preliminary agreement to halt production.

U.S. WTI crude futures had risen 42 cents to $44.90 per barrel after sliding by 4% or $1.84 in the last session. U.S. crude advanced 4% in the previous week.

Brent crude futures climbed by 42 cents to $46.31 after losing $1.76 or 3.7% at the previous close and gained 0.3% in the prior week.

OPEC members will hold an informal meeting on the sidelines of the International Energy Forum in Algiers on September 26-28, where they will talk regarding a possible output-restricting deal.

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**InstaForex Gertrude** · 27-09-16, 06:01

China Industrial Profits Rise Sharply In August

China's industrial profits grew markedly in August from a year ago, data from the National Bureau of Statistics showed Tuesday.

Profits earned by large firms in China surged 19.5 percent year-over-year to CNY 534.8 billion in August, faster than the 11.0 percent climb in July.

During the first eight months of the year, total industrial profits rose 8.4 percent from the same period last year, compared with a 6.9 percent gain in the first seven months of this year.

Private firm's profits increased 8.4 percent, while profits at state-owned firms declined 2.1 percent in the January to August period.

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**InstaForex Gertrude** · 27-09-16, 06:32

Asian Shares Gain as Markets See Clinton Winner of U.S. Presidential Debate

Asian stocks gain while investors seem to favor Democrat representative Hillary Clinton over Republican representative Donald Trump. MSCI's broadest index of Asia-Pacific shares excluding Japan increased by 0.2 percent.

Japan's Nikkei more than halved its losses and decreased by 0.4 percent as the U.S. dollar increased against the Japanese yen at 100.74. Markets are currently inclined to view Clinton as the candidate of the status quo, as several are uncertain as to what a Trump presidency entails for U.S. trade, foreign policy and the domestic economy. The South Korean Kospi and the Shanghai SSE Composite Index were both up.

In commodity markets, oil increased by three percent as the world's biggest producers met in Algeria in order to discuss ways to address the crude glut. Brent crude LCOc1 declined 20 cents to $47.13 per barrel, as U.S. crude CLc1 was down 13 cents to $45.80.

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**InstaForex Gertrude** · 28-09-16, 06:10

Fxwirepro: Usd/sgd Almost Flat at 1.36 Mark, Bias Remains Bullish Only Above 1.3622

USD/SGD is currently trading around 1.3605 marks.

It made intraday high at 1.3622 and low at 1.3592 levels.

Intraday bias remains neutral till the time pair holds key support at 1.3582 marks.

A daily close below 1.3582 will drag the parity down towards key supports at 1.3510/1.3462/1.3391/1.3347/1.3313/1.3302/ 1.3271 levels.

Alternatively, a sustained close above 1.3622 will test key resistances at 1.3659, 1.3698, 1.3732, 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 up and confirms the bullish trend in a daily chart.

We prefer to go long on USD/SGD only above 1.3622 with stop loss at 1.3582 and target of 1.3698.

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**InstaForex Gertrude** · 28-09-16, 07:12

Volkswagen Shares Slides on Media Report

Shares of Volkswagen fell over 4% after a Bloomberg report stated that the U.S. government is evaluating the size of the fine it will impose on the automaker without closing down its business.

U.S. Environmental Protection alleged the German automaker has been cheating on American air pollution tests last year in diesel vehicles issued between 2008 and 2015. A civil complaint was consequently filed by the Justice Department against Volkswagen after it admitted being guilty of the accusations.

Volkswagen agreed to pay a $16.5 billion civil litigation fine in the US. and now the two parties are looking to reach an agreement by January according to sources.

The carmaker's U.S.-listed stocks have lost 10% this year to date.

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**InstaForex Gertrude** · 29-09-16, 05:46

Fxwirepro: Japanese Yen falls on the Back of Lower Than expected Retail Sales Data

USD/JPY is currently trading around 101.35 marks.

It made intraday high at 101.40 and low at 100.65 levels. Intraday bias remains bullish till the time pair holds key support at 100.30 levels.

A daily close above 101.72 will take the parity higher towards key resistances around 102.65, 103.42, 104.13, 105.50, 106.12, 106.72, 107.49, 107.90 and 109.13 levels respectively.

On the other side, a sustained break below 100.30 will drag the parity down towards key supports at 99.27 and 98.78 levels respectively.

Japan’s August retail sales y/y decreases to -2.1 % (forecast -1.8 %) vs previous -0.2 %.

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**InstaForex Gertrude** · 30-09-16, 04:18

Malaysia Manufacturing PMI Continues To Contract

The manufacturing sector in Malaysia remained in contraction in September, albeit at a slower pace, the latest survey from Nikkei showed on Friday with a manufacturing PMI score of 48.6.

That's up from 47.4 in August, although it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.

Individually, production fell to its weakest rate in 11 months, while
new orders were at their slowest pace since May 2015.

Input price inflation fell to match the lowest figure on record for the survey.

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**InstaForex Gertrude** · 04-10-16, 04:49

Dollar Firms Buoyed by Manufacturing Data

The U.S. dollar rose after it received a boost from an upbeat U.S. economic data which showed that the manufacturing sector rebounded in September. The WSJ Dollar Index increased by 0.3 percent to 86.61.

The Institute for Supply Management report has shown that factory activity in the U.S. rebounded in September after it shrank in August. The ISM manufacturing index was at 51.5 percent for the month. Fed-fund futures have shown a 62 percent likelihood that the Fed would increase interest rates by the December meeting, according to CME Group data.

The British pound declined by 1.1 percent to $1.2826 as U.K. Prime Minister Theresa May has finally set a March date to go ahead with leaving the European Union and claims that controlling immigration is a higher priority than full access to its biggest trading partner.

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**InstaForex Gertrude** · 05-10-16, 06:26

Euro Rises Against Majors

The euro strengthened against the other major currencies in the Asian session on Wednesday.

The euro rose to more than a 3-1/2-year high of 0.8814 against the pound and a 3-week high of 115.49 against the yen, from yesterday's closing quotes of 0.8799 and 115.22, respectively.

Against the U.S. dollar and the Swiss franc, the euro edged up to 1.1228 and 1.0974 from yesterday's closing quotes of 1.1201 and 1.0964, respectively.

If the euro extends its uptrend, it is likely to find resistance around 0.89 against the pound, 118.00 against the yen, 1.13 against the greenback and 1.10 against the franc.

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**InstaForex Gertrude** · 05-10-16, 07:56

Oil Prices Jump on U.S. Crude Supply Data

Oil prices rose following a report that U.S. crude stocks may have dropped for the fifth week in a row, however, contracts continued to be close to the $50-per-barrel mark where most traders presently perceive a fair price for crude.

U.S. WTI oil futures traded up 49 cents or 1% from their previous finish at $49.18 a barrel while the benchmark Brent crude futures were up 42 cents or 0.8% at $51.29 a barrel.

Traders state that the surge in prices was mostly due to a report by the American Petroleum Institute on Tuesday, revealing that U.S. crude supplies most likely dropped for the fifth consecutive week, falling by 7.6 million barrels. The U.S. EIA is scheduled to release official inventory figures on Wednesday. Analysts are expecting a supply accumulation of 2.6 million barrels during the previous week.

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