Forex News from InstaForex

**InstaForex Gertrude** · 04-08-17, 04:03

Australia Retail Sales Rise 0.3% On Month In June

Retail sales in Australia were up a seasonally adjusted 0.3 percent on month in June, the Australian Bureau of Statistics said on Friday - coming in at A$26.150 billion.

That beat expectations for an increase of 0.2 percent following the 0.6 percent gain in May.

For the second quarter of 2017, retail sales climbed 1.5 percent on quarter to A$76.203 billion.

That also exceeded expectations for a gain of 1.2 percent following the upwardly revised 0.2 percent increase in the three month prior (originally 0.1 percent).

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**InstaForex Gertrude** · 04-08-17, 04:33

Dow Posts 7th Record in a Row as Amazon, Apple Weighs on S&P 500

U.S. stocks fluctuated on Thursday as the Dow Industrials rose to a seventh consecutive record peak. The S&P 500 and the Nasdaq declined, pulled down by Amazon.com, Apple and other technology stocks.

Stocks lost quite some ground late in the session following a report from the Wall Street Journal which stated that Special counsel Robert Mueller has impaneled a grand jury in Washington to probe into allegations of Russia's interference in the 2016 presidential elections.

The Dow Jones industrial average edged up 0.04 percent to close at 22,026.10.

The S&P 500 and the Nasdaq composite dropped to session lows on the report. However, both managed to pare losses before the close.

The S&P 500 slipped 0.22 percent to 2,472.16, as energy led decliners.

The Nasdaq fell 0.35 percent to 6,340.34. Investors may be taking a break ahead of the monthly employment report from the Bureau of Labor Statistics.

The S&P 500 information technology index fell 0.35 percent. Apple shed 1.0 percent after notching a record peak on Wednesday.

Silicon Valley electric carmaker Tesla soared 6.50 percent after posting its quarterly results which were above Wall Street's expectations.

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**InstaForex Gertrude** · 07-08-17, 03:58

FRANCE: Macron Offers As Mediator In Venezuelan Crisis

The president of France, Emmanuel Macron, offered to mediate the Venezuelan crisis while condemning the political violence in the country and the arrest of the opposition leaders Leopoldo Lopez and Antonio Ledezma.

"Our European partners share these concerns. Together, we call that the human rights, the rule of law and people's fundamental freedoms to be respected. We hope that institutions in Venezuela return to its normal functioning as soon as possible," the French Presidency said in a statement.

"France, along with its European partners, supports the efforts of the countries of the region and will continue to support any arbitration that will allow the resumption of a credible, sincere and serious dialogue between the government and the opposition and to end the spiral of violence. Our ambassador, on the spot, stays in touch with all parties," the statement said.

The French offer comes shortly before the installation of the National Constituent Assembly elected last Sunday amid and an opposition boycott.

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**InstaForex Gertrude** · 07-08-17, 04:22

Gold Steady Near 2-Week Low as Dollar Strengthens

Gold prices held steady near two-week lows early on Monday, weighed down by the rebound in the U.S. dollar following better-than-expected U.S. jobs data from last week.

Spot gold was flat at $1,257.31 an ounce. On Friday, it reached its lowest in over a week and recorded its first weekly drop in four.

U.S. gold futures for December delivery were down 0.1 percent to $1,263.00 an ounce.

SPDR Gold Trust, the world's biggest gold-backed exchange-traded fund, said its holdings dropped 0.60 percent to 787.14 tonnes on Friday from 791.88 tonnes the previous day. The fund saw its holdings decline by over seven percent in July, as investors dumped bullion for other assets and propelled it to its largest monthly drop since April 2013.

Hedge funds and money managers raised their net long position in COMEX gold for the third consecutive time to the highest in seven weeks in the week to Aug. 1, and raised it to a record peak in copper, according to data from the U.S. Commodity Futures Trading Commission.

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**InstaForex Gertrude** · 08-08-17, 04:11

Wall Street Gains as Dow Hits 9th Record Close in a Row

U.S. stocks climbed on Monday, as corporate earnings and acquisitions propelled some of the largest moves in individual shares.

The Dow Jones industrial average touched intraday and closing records, as it contributed to the previous week's record-setting performance. The 30-stock index climbed 0.12 percent to 22,118.42 as Boeing and Goldman Sachs contributed most of the gains.

The S&P 500 rose 0.16 percent to 2,480.91, its first record close since July 26. The Nasdaq composite jumped 0.51 percent to 6,383.77.

The energy sector led declines with a 0.9 percent fall as oil prices slipped on a rebound in production from Libya's biggest oil field, along with concerns regarding higher output from OPEC and United States.

The S&P consumer staples index rose 0.7 percent while the technology index climbed 0.6 percent, both were the benchmark's leading sectors on the day. Tyson Foods, one of the consumer staple sector's largest boosts on the day, gained 5.7 percent to $66.90 after the company posted better-than-expected profit and revenue for the recent quarter. Shares of Wal-Mart rose nearly one percent.

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**InstaForex Gertrude** · 09-08-17, 04:14

YPF: Revenue Increases 14% And Company Returns To Profit In Q2

Argentina's state-owned oil company YPF reported a net profit of 272 million Argentinean pesos in the second quarter of 2017, reversing the 753 million pesos loss recorded in the same period of 2016. Revenue amounted to 60.162 billion pesos, a 14.0% growth.

YPF's EBITDA (earnings before interest, taxes, depreciation, and amortization) reached 16,177 million pesos, a 5.8% fall compared to the same period of 2016. Investments decreased by 10.1% in the second quarter of 2017, to 13.029 billion pesos, compared with a year earlier.

YPF's total output reached 550.1 thousand barrels of oil equivalent per day (boed) in the second quarter, 4.2% lower than in the same period in 2016. Crude oil production declined by 10.1%, to 218.3 thousand barrels per day (bpd), while natural gas production reached 44.6 million cubic meters per day (Mm3d), 0.5% lower than the same period of 2016. Regarding Natural gas liquids, production increased by 3.7%, reaching 51.4 thousand bpd.

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**InstaForex Gertrude** · 09-08-17, 04:42

Oil Continues to Retreat as Skepticism over OPEC Cuts Persist

Oil futures slid for a third day in morning Asian trading as the market brushed off a bigger than expected decline in U.S. stockpiles by an industry group as skepticism remain over OPEC's ability to limit output as pledged.

Brent crude fell 21 cents or 0.4 percent, bringing it at $51.93 per barrel. In the prior session, the international benchmark finished 0.4 percent down.

U.S. WTI traded down 15 cents or 0.3 percent at $49.02 per barrel after ending down 0.4 percent on Tuesday.

U.S. crude stockpiles fell more than anticipated in the previous week as imports decreased and refinery runs rose, while gasoline inventories unexpectedly increased, according to API's latest report.

Crude stockpiles slid by 7.8 million barrels in the latest week to 478.4 million, compared with analysts expectations for a decline of 2.7 million barrels.

The U.S. EIA will publish its weekly fuel status report later today.

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**InstaForex Gertrude** · 10-08-17, 04:37

Wall Street Drops Amid North Korea Tensions

U.S. equities closed lower on Wednesday with mild declines as the market trimmed losses toward the end.

Growing tensions between the US and North Korea rattled markets around the world, which halted the rally in stocks that was spurred by corporate earnings and global economic expansion.

The Dow Jones industrial average slipped 0.17 percent to 22,048.70, as Walt Disney contributed the most declines. The S&P 500 ended below the flatline at 2,472.02. The index dropped as much as half a percent, with utilities leading losses. The Nasdaq composite was down 0.28 percent to 6,352.33.

The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, touched a one-month peak.

Politics raised U.S. defense stocks. Lockheed Martin, Raytheon, General Dynamics and Northrop Grumman all advanced while the Dow Jones U.S. defense index rose 1.6 percent after notching a record peak.

Some weak corporate results contributed to the pressure on U.S. stocks.

Losses in Walt Disney trimmed nearly 28 points off the Dow industrials. The company lost 3.9 percent to $102.83 after it posted a lower-than-expected decline in operating income from its cable-networks business and also announced it will end a deal with Netflix after next year. Shares of Netflix shed 1.4 percent to 175.78.

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**InstaForex Gertrude** · 11-08-17, 03:45

New Zealand Food Prices Fall 0.2% In July

Food prices in New Zealand were down an unadjusted 0.2 percent on month in July, Statistics New Zealand said on Friday - following the 0.2 percent gain in June.

Fruit and vegetable prices fell 1.0 percent on month, while meat, poultry, and fish prices fell 0.8 percent.

Seasonally adjusted, food prices were flat on month.

On a yearly basis, food prices were up 3.0 percent for the second straight month.

Fruit and vegetable prices increased 8.2 percent on year, while grocery food prices increased 3.1 percent.

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**InstaForex Gertrude** · 14-08-17, 04:06

Japan GDP Jumps 1.0% In Q2

Japan's gross domestic product expanded 1.0 percent on quarter in the second three months of 2017, the Cabinet Office said in Monday's preliminary reading.

That beat forecasts for a gain of 0.6 percent following the upwardly revised 0.4 percent increase in the three months prior (originally -0.3 percent).

On a yearly basis, GDP surged 4.0 percent - again topping expectations for 2.5 percent and up from the upwardly revised 1.5 percent jump in the first quarter (originally 1.0 percent).

Nominal GDP jumped 1.1 percent on quarter, beating forecasts for an increase of 0.7 percent following the 0.3 percent decline in the previous three months.

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**InstaForex Gertrude** · 15-08-17, 03:55

VALE: Company To Increase Corporate Governance Level Sooner Than Expected

The chief executive officer of the Brazilian miner Vale, Fabio Schvartsman, said that the company could enter the Novo Mercado stock market segment - which means that the firm will follow the highest standards of corporate governance available in Brazil - sooner than expected.

"We do not have the date yet, but we will do everything at reach to make it fast. It is possible that it will happen later this year," the executive said in a teleconference with reporters.

His statement came after Vale's stockholders agreed to convert 84.4% of the company's preferred shares into common shares. According to Schvartsman, nobody expected such high level of commitment to the share conversion process.

Now, Vale is reviewing what to do with the remaining preferred shares. One possibility would be to hold a new shareholder meeting to convert those stocks. Schvartsman also reiterated that it would not be necessary to use company money to buy the shares, since shareholders who did not join the conversion did not do so due to regulatory issues, such as index funds abroad.

Vale needed a conversion rate of at least 54.09% to proceed with its corporate restructuring and for changes in corporate governance, such as those required to enter the Novo Mercado segment.

After the conversion, Valepar - Vale's controlling shareholder - will merge with and into the mining company. Valepar is formed by Bradesco, Mitsui, BNDESPar and state pension funds, such as Previ. In this way, shareholders linked to the government will have smaller shares.

Asked about government participation in the company, Schvartsman said that this issue is "100% solved" and that government interference in the company "is a page turned." "Not that there was interference, but the government is very welcome as a minority shareholder," he said.

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**InstaForex Gertrude** · 15-08-17, 04:27

Wall Street Higher as North Korea Tensions Dwindle Down

U.S. stocks closed higher on Monday from the previous week's selloff, as traders saw geopolitical tensions subsiding.

The Dow Jones industrial average climbed 0.62 percent to 21,993.71, as Goldman Sachs, Apple and Boeing contributed the most advances.

The S&P 500 advanced one percent to 2,465.84, as the information technology ended at a record peak. The S&P also recorded its best day since April 24, when it climbed 1.08 percent. The Nasdaq composite gained 1.34 percent to 6,340.23, with shares of Amazon, Facebook and Tesla all increasing.

The CBOE Volatility index, Wall Street's fear gauge, dropped over three points after it jumped to a nine-month peak last week.

Technology shares were among stocks that gave the index its largest boost. Apple rose 1.5 percent and the S&P 500 technology index climbed 1.6 percent.

Tesla advanced 1.7 percent after two brokerages increased their price targets on the stock, citing possible success of the firm's Model 3 sedan.

Snap Inc rose 6.5 percent after notching a record low early in the session, as investors posted their stakes in the social media firm while a wave of employees became eligible to sell their shares.

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**InstaForex Gertrude** · 17-08-17, 03:55

Japan Has Y418.8 Billion Trade Surplus

Japan had a merchandise trade surplus of 418.8 billion yen in July, the Ministry of Finance said on Thursday.

That topped forecasts for a surplus of 327.1 billion yen but was down from 439.8 billion yen in June.

Exports climbed 13.4 percent on year, beating forecasts for 13.2 percent and up from 9.7 percent in the previous month.

Imports picked up an annual 16.3 percent versus expectations for 17.1 percent and up from 15.5 a month earlier.

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**InstaForex Gertrude** · 17-08-17, 04:36

UK Employment Notched Record Peak but Pay Remains Under Pressure

British employment reached a record peak, but workers' wages are still being squeezed as productivity drops.

Official statistics that were recently published signified the resilience of the UK jobs markets and its constant underlying problem. The workforce has been less productive than it was a decade ago, while employers are reluctant to increase salaries.

In the three months to the end of June, another 125,000 people have found jobs. This means that 75.1 percent of all people between the ages of 16 and 64 were in work, the highest employment rate since records started in 1971.

The jobless rate dropped from 4.5 to 4.4 percent in the quarter, the lowest marked rate since 1975.

The majority of new jobs were full-time, while the count of people on insecure zero-hours contracts fell by 20,000 to 883,000.

The productivity of Britain's workers dropped 0.1 percent in the second quarter after a 0.5 percent decline in the first.

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**InstaForex Gertrude** · 18-08-17, 07:23

Malaysia GDP Growth Improves Unexpectedly In Q2

Malaysia's economic growth accelerated unexpectedly in the three months ended June, figures from the Department of Statistics showed Friday.

Gross domestic product advanced 5.8 percent year-over-year in the second quarter, faster than the 5.6 percent rise in the Mach quarter. Meanwhile, economists had expected the growth to ease to 5.4 percent.

During the fourth quarter of the previous year, the rate of expansion was 4.5 percent.

Malaysia's economy remained its uptrend momentum since second quarter of 2016.

On the expenditure side, private final consumption expenditure grew 7.1 percent annually in the second quarter and gross fixed capital formation rose by 4.1 percent.

Both exports and exports climbed by 9.6 percent and 10.7 percent, respectively.

Quarter-on-quarter, the seasonally adjusted GDP increased at a slower pace of 1.3 percent in the June quarter, following a 1.8 percent growth in the preceding three-month period.

Separately, the statistical office revealed that the current account surplus of the country rose to MYR 9.6 billion in the second quarter from MYR 5.3 billion in the first quarter.

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**InstaForex Gertrude** · 22-08-17, 04:31

Canada Wholesale Trade Down 0.5% in June

The value of Canadian wholesale trade dropped 0.5 percent in June following eight straight months of growth, weighed down by lower sales of food and motor vehicles, according to Statistics Canada.

Five of the seven sub sectors, representing 73 percent of wholesale trade, reported declines as sales dropped in six provinces. In volume terms, sales fell 0.7 percent.

The food, beverage and tobacco subsector dropped 1.0 percent. Motor vehicles and parts dealers were also down 1.0 percent.

Sales in the western energy-producing province of Alberta tumbled 3.7 percent, its first decline in nine months.

Inventories reported their 10th increase in 11 months, climbing 0.6 percent to hit a record peak on the back of a 3.2 percent growth in the personal and household goods subsector.

The Canadian dollar remains strong against the U.S. dollar despite the sharp drop in oil prices. Last week, the loonie hit a two-week peak against the greenback pulled down by political uncertainty, after Canadian data revealed a rise in the rate of underlying inflation while oil prices increased.

In Canada, investors will also pay attention to the release of the retail sales data due on Tuesday.

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**InstaForex Gertrude** · 23-08-17, 06:07

Japan Manufacturing PMI Climbs To 52.8 In August - Nikkei

Economic confidence from Germany and public sector finance from the UK are due on Tuesday, headlining a light day for the European economic news.

The manufacturing sector in Japan continued to expand in August, and at a faster pace, the latest survey from Nikkei revealed on Wednesday with a Manufacturing PMI score of 52.8.

That's up from 52.1 in July, and it moves farther above the boom-or-bust line of 50 that separates expansion from contraction.

Individually, output, new orders, new export orders, employment, input prices and stocks of purchase all expanded at an accelerated rate.

Future expectations remained positive, although the optimism was weaker.

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**InstaForex Gertrude** · 23-08-17, 06:25

Bitcoin Recover after Shortly Sliding into Correction Territory

Bitcoin and Bitcoin Cash prices regained footing on Tuesday, while its peer ethereum continued to be pressured, further sliding from recent record-highs.

Bitcoin rallied by 2 percent on the day at $4,139.87 after falling to as low as $3,687 in morning trade. During session lows, the digital currency has briefly fallen into correction territory. This is defined by analysts as a 10 percent or steeper decline from a recent record level in an asset.

The cryptocurrency skidded to $3,687 earlier on the day, denoting a 16.7 percent drop from its mid-August record of closing above $4,425, according to Coindesk.com. At its current trading levels, it is 8 percent lower from its peak level.

The ethereum's ether token declined, climbing down from a recent peak, falling 0.5 percent at $322.33 on the day. It hit a record high in mid-June at around $380 per token. Industry experts tried to downplay the decline across digital currencies, as the drop is mainly seen as due to profit-taking.

The trend in bitcoin price comes as the industry found a resolution for the so-called scaling issues, enabling bigger transaction sized in the blockchain network.

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**InstaForex Gertrude** · 24-08-17, 04:48

Wall Street Declines after Trump Threatens Government Shutdown

U.S. equities dropped on Wednesday after President Donald Trump said he is willing to let the government shutdown if Congress fails to fund a Mexico border wall.

The Dow Jones industrial average dropped 0.40 percent to 21,812.09, as Boeing and Johnson & Johnson contributed the most losses. The S&P 500 slipped 0.35 percent to 2,444.04, as consumer discretionary and industrials led losses.

The Nasdaq composite shed 0.30 percent to close at 6,278.41, with huge tech stocks like Amazon and Facebook retreating.

The CBOE Volatility index, a broadly-followed measure of market anxiety, rose 6.0 points to 12.03, its first increase in four days.

The consumer discretionary closed 0.8 percent lower, pulled down by a 3.71 percent loss in Lowe's Companies following weak results and forecast.

Home Depot fell 0.54 percent to $149.10.

Wal-Mart climbed earlier in the session after it announced a partnership with Google to offer voice shopping.

Advertising company Omnicom fell over 6.94 percent to $72.71 and Interpublic Group tumbled 6.32 percent to $72.71 after WPP trimmed its sales forecast after consumer goods giants tightened spending.

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**InstaForex Gertrude** · 29-08-17, 05:56

Wall Street Flat as Tropical Storm Crippled Texas

Shares of oil refinery firms climbed on Monday after Tropical Storm Harvey forced refineries in Houston to shut down.

The Dow Jones industrial average dropped 0.02 percent to 21,808.40, as insurance giant Travelers contributed the most to the losses. The S&P 500 fluctuated between gains and losses before ending 0.05 percent higher at 2,444.24, as health care led six sectors up. The Nasdaq composite jumped 0.28 percent to 6,283.02.

Harvey, a hurricane that was downgraded to a tropical storm, ravaged Houston and other parts of Texas over the weekend, with over 30 inches of rain falling in some parts in just 48 hours. Houston is home to several major refineries in the U.S.

Oil majors Exxon and Chevron fell 0.3 percent and 0.4 percent respectively. Valero Energy, Phillips 66 and Marathon Petroleum all finished higher.

The S&P 500 financial sector was the biggest weight on the index, with a 0.5 percent decline.

Home Depot, which climbed 1.2 percent, and other companies likely to benefit from rebuilding efforts in the region.

Insurer Travelers weighed the most on the Dow with a 2.6 percent decline to $123.23, as Allstate dropped 1.5 percent to $90.6 while investors priced in the likely impact of Harvey on the sector.

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