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Aud/usd eased to 0.7593 First up After Slightly Weaker China Pmi
Light AUD/JPY demand after Tokyo arrived helping to underpin AUD/USD
AUD/USD support at 0.7545/50 where Wednesday's low and 50-day MA converge
Resistance at 20-day MA at 0.7662 - range expected ahead of RBA tomorrow
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Fxwirepro: Usd/inr Breaks Key Support at 66.32, Good to Sell on Rallies
USD/INR is currently trading at 66.32 marks. It made intraday high at 66.41 and low at 66.32 levels. Intraday bias remains bearish for the moment. A daily close below 66.32 will take the parity down around key supports at 66.10/65.95/65.81 marks respectively. On the other side, key resistance levels are seen at 66.48/66.72/ 66.86/ 66.95/ 67.15 levels. Today India will release Nikkei market manufacturing PMI data at 0500 GMT. In addition, Indian stock markets are trading on a lower note. As BSE Sensex was trading 0.71% lower at 25,428 while NSE Nifty fell by 0.73% to 7,792 points. We prefer to take short position in USD/INR only below 66.30, stop loss 66.72 and target 66.05 marks.
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Fxwirepro: Nikkei225 Consolidates in Narrow Range, Good to Sell on Rallies
Major intraday resistance - 16200 Major support - 15800 Nikkei index slightly recovered after making a low of 15837.It is currently trading around 16016. Short term trend is bearish as long as resistance 16600 holds. The index minor resistance is around 16200 and any break above will take the index to next level 16375(55 day H EMA)/16600/16800. On the lower side major support is around 15800 and break below will drag the index down till 15500/15325 in short term. . Short term trend reversal can be seen only below 15000. It is good to sell on rallies around 16300 with SL around 16600 for the TP of 16000/15550
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Asian shares plummet as global economic growth woes remain
Asian shares recorded its longest losing run in nearly five months as it declined for seventh consecutive days on escalating global economic growth anxieties. The MSCI Asia Pacific Index closed at 405.69, down 0.4%. The Shanghai Composite Index lost 0.2%. The Hang Seng China Enterprises Index lost 1.2%. Hong Kong's Hang Seng Index slipped 0.8%. Taiwan's Taiex index tumbled 0.5%. Global stock markets have hit its lowest troughs in nearly a month despite worries over disappointing corporate earnings and dim labor and manufacturing data. Meanwhile, China's measure services data will be released Thursday.
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Usd/jpy Trade up to 108.60 in Ny
Stops at 108.00+, 108.25+ tripped
Gotobi demand supportive
Option expiries to help cap - USD884 mln 108.50, 505 mln 108.75, more above Daily Ichimoku tenkan-kijun converging at 108.71-72.
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HTC Revenue Falls for the 4th Quarter in a Row
HTC Corporation reported a 64 percent dive in revenue for the first quarter, contracting from $1.3 billion in 2015 to a dismal $456 million. Q1 profit also plunged by a staggering 78 percent from last year's $250 million to $60 million. HTC is struggling to restore its share in the cut throat Android market, which has now shriveled to 1 percent. Its net loss totaled to $80 million in three months. Sales results of its new smartphone HTC 10 and virtual reality device Vive were not yet counted. However, 11 days after the pre-sales opened in China, only 251 units of HTC 10 were pre-ordered. This shows that HTC is losing against major competitors Apple and Samsung in the world's the largest smartphone market.
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Fxwirepro: Usd/jpy Fails to Sustain Above Key Resistance 109.32, Intraday Bias Remains Neutral
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USD/JPY is currently trading around 109.10 marks.
It made intraday high at 109.36 and low at 109.04 levels.
Intraday bias remains neutral for the moment.
A daily close above 109.32 will drag the parity up towards 111.23, 112.60 and 113.42 levels respectively.
Alternatively, reversal from key resistance will drag the parity down towards key supports at 108.27, 106.15, 105.71, 105.45 and 104.55 levels respectively. Japan will release leading indicator data at 0500 GMT. Market anticipates reading around 96.4 vs 96.8 previous release.
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Japan's Topix wipes out previous advance as yen surges
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Japan's Topix index erased its early ascension as the Japanese yen fortified after recording losses for two straight days.
Against the US dollar, the yen traded at ¥108.66, up 0.6%. The Topix index closed at 1,332.42,m down 0.2%, while the Nikkei 225 Stock Average settled at 16,575.65. Machinery shares advanced but consumer finance and drugmakers spearheaded declines.
Around 180 entities listed on the Topix are scheduled to report their earnings Wednesday, while 700 others will post results Thursday and Friday. Mitsubishi Estate Co. and Toyota Motor Corp. post earnings today.
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Fxwirepro: Usd/krw Trading in Tight Range, Intraday Bias Remains Neutral
USD/KRW is currently trading around 1164 levels.
Intraday bias remains neutral till the time pair holds key support at 1162 marks.
Pair is trading in tight range from 1162 to 1172 marks.
A break of either side will provide further direction to the parity.
A daily close above 1172 will drag the parity up towards key resistances at 1176/1180/1193 (20, 30 and 55D EMA crossover)/1211 marks.
A sustained close below 1162 will test key supports at 1153 (November 2015 low) /1142 (20D EMA)/ 1134/1127 (October 2015 low) /1121/1115 levels respectively.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
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Cameron unveils UK property rule amendments
Seeking to topple corruption worldwide, Prime Minister David Cameron announced foreign entities with properties in the United Kingdom are mandated to publicly declare their assets, saying they need to be on a new register. The British premier made the announcement as world leaders are heading to a the Lancaster House summit in London aimed at bolstering measures to eradicate money laundering. Cameron is hosting the gathering. No list of participants has been released. But Afghan President Ashraf Ghani and US State Secretary John Kerry are awaited to join the convention. Also, the details of the event are not yet published. However, organizers disclosed the event will find ways to unmask corruption.
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Fxwirepro: Kiwi falls on the Back of Lower Than expected Retail Sales Data
AUD/NZD is trading around 1.0726 marks.
Pair made intraday high at 1.0743 and low at 1.0717 marks.
Today New Zealand released retail sales data with negative numbers at 0.8% q/q vs 1.1% q/q previous release.
In addition, core retail sales falls to 1.0% q/q vs 1.1% q/q previous release. Intraday bias remains neutral for the moment.
A daily close below 1.0725 will take the parity down towards 1.0670 (February 26, 2016 low) and 1.0574 (February 12, 2016 low) marks.
On the other side, reversal from key support will drag the parity higher towards 1.0886, 1.0976 (January 2016 high) /1.1062 (30D EMA)/1.1123/1.1298/1.1317 (March 23, 2016 high) levels respectively.
We prefer to take short position in AUD/NZD only below 1.0725, stop loss 1.0823 and target 1.0651/1.0574 marks.
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Fxwirepro: Kiwi Gains in Early Asia on the Back of Higher Than expected Trade Balance Data
AUD/NZD is trading around 1.0653 marks.
Pair made intraday high at 1.0667 and low at 1.0634 marks.
Today New Zealand released trade balance data with positive numbers at 292M vs 189M previous release.
Goods exports rose 4.0 percent in April 2016, up $166 million to $4.3 billion, Statistics New Zealand said today. The total value of goods imported in April 2016 was $4.0 billion, up $58 million (1.5 percent). Consumption goods led the rise, up $129 million (14 percent), with increases across a broad range of goods. Intraday bias remains bearish till the time pair holds key resistance at 1.0741 marks.
A daily close below 1.0620 will take the parity down towards key support around 1.0574 (February 12, 2016 low) and 1.0506 marks respectively.
On the other side, a sustained close above 1.0734 will drag the parity higher towards 1.0823/1.0976 (January 2016 high) /1.1062 (30D EMA)/1.1123/1.1298/1.1317 levels respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms bearish trend.
We prefer to take short position in AUD/NZD around 1.0670, stop loss 1.0734 and target 1.0574 levels.
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Fxwirepro: Yen Gains Sharply in Early Asia After Corporate Price Index Data, Intraday Bias Remains Bearish
USD/JPY is currently trading around 109.46 marks.
It made intraday high at 110.23 and low at 109.43 levels.
Today Japan released corporate service price index data with flat numbers at 0.2% m/m as expected.
Intraday bias remains bearish for the moment.
A sustained close above 110.38 is required to take the parity higher towards key resistances around 111.34 (April 05, 2016 high), 112.60 (55D EMA) and 113.42 levels respectively.
Alternatively, a sustained break below 109.17 will drag the parity down towards key supports at 108.72, 107.94, 106.15, 105.71, 105.45 and 104.55 levels respectively.
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Abe to bring G7 leaders to Shinto religion site ahead of summit
Japanese Prime Minister Shinzo Abe was poised to tour Group of Seven leaders to the Shinto religion's holiest location ahead of convention discussing different global economic risks, including China's maritime aggressiveness and refugee crisis.
President Barack Obama and other G7 leaders would visit the grounds of Ise Grand Shrine, dedicated to sun goddess Amaterasu Omikami, direct descendants of emperors of Japan.
The Japanese premier hopes the shrine visit will give an insight to the core of Japanese culture. But critics slammed Abe's move, reiterating he caters the conservative base seeking to revive religion in politics and traditional norms.
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Fxwirepro: Japanese Yen Gains in Early Asia on Robust Core Cpi Data
USD/JPY is currently trading around 109.76 marks.
It made intraday high at 109.79 and low at 109.55 levels.
Today Japan released core CPI data with positive numbers at -0.3% m/m vs -0.4% m/m consensus forecast. Intraday bias remains neutral for the moment.
A sustained close above 110.38 is required to take the parity higher towards key resistances around 111.34 (April 05, 2016 high), 112.60 (55D EMA) and 113.42 levels respectively.
Alternatively, a sustained break below 109.41 will drag the parity down towards key supports at 108.72, 107.94, 106.15, 105.71, 105.45 and 104.55 levels respectively.
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Abe poised to defer 2017 sales tax hike - sources
Japanese Prime Minister Shinzo Abe will postpone a national sales tax hike initially planned in April next year.
Government sources disclosed the postponement was caused by woes the tax increase might push the country back into deflation. They added the premier will defer the tax raise by one to three years.
Abe will hold a meeting with Finance Minister Taro Aso Sunday and coalition partner Komeito head Natsuo Yamaguchi Monday to determine the right timing to implement the tax increment.
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Fxwirepro: Usd/krw Hovers Around Key Resistance at 1194, Intraday Bias Remains Neutral
USD/KRW is currently trading around 1190 levels.
It made intraday high at 1190 and low at 1189 levels.
Intraday bias remains neutral for the moment.
A daily close above 1194 is required to drag the parity higher towards key resistances at 1195, 1201, 1209 (20D EMA) and 1220 (March 03, 2016 high) marks respectively.
Alternatively, a sustained close below 1182 will tests key supports at 1172, 1162, 1153 (November 2015 low) /1142 (20D EMA)/ 1134/1127 (October 2015 low) /1121/1115 levels respectively.
Daily chart showing the 20D EMA has crossed over 30D and 55D EMA, which signals bullish trend. In addition, a sustained close above 1194(high as on May 24, 2016) is also required to confirm the same.
Today South Korea released Manufacturing BSI index with positive numbers at 72 m/m vs 69 m/m previous release.
We prefer to take long position in USD/KRW only above 1194, stop loss 1177 and target 1209 marks.
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Gold hits lowest level since February as Fed implies rate hike
Gold touched its weakest level since February as Federal Reserve Chair Janet Yellen indicated another interest rate hike might be considered in the following months, citing strengthening US economy. The Fed head backed what some policymakers have mentioned last week, that signs of improving US economy meant raising rates could now be taken into account. Bullion for immediate delivery closed at $1,200.03 per ounce, down 1%, the lowest since February 17. Prices, which have dropped for ninth consecutive days, are poised for its biggest monthly decline since 2013.
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Chinese woes, Fed rate hike force investors to ditch Asian holdings
Chinese economic woes and the Federal Reserve's brewing interest rate hikes have pressured investors to sell its Asian bonds and currencies. An HSBC data indicated a net $3.2 billion ditched equity markets in the region, excluding Japan, the biggest outflow since January. The report added bond markets in Indonesia and South Korea are now receiving huge reverse of inflows, while currencies have slumped sharply. The MSCI Asia-Pacific Index climbed 19% between late January and the end of April in the wake of tailwinds of a dovish Fed, hopes the Chinese economy will recuperate, and stabilization in commodity prices.
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Fxwirepro: South Korean Won falls on the Back of Lower Than expected Cpi Data
USD/KRW is currently trading around 1190 levels.
Overnight South Korea released CPI data with negative numbers.
South Korea’s May CPI growth Y/Y decreases to 0.8 % (forecast 0.90 %) vs previous 1.0%. In addition, CPI growth M/M decreases to 0.0 % (forecast 0.20 %) vs previous 0.1 %.
On the other side, South Korea’s April current account balance decreases to 5.14 bln $ vs previous 10.07 bln $ (revised from 10.07 bln $).
South Korea’s May trade balance prelim decreases to 7.1 bln $ vs previous 8.80 bln $.
Intraday bias remains bullish till the time pair holds key support at 1177 marks.
A daily close above 1194 is required to drag the parity higher towards key resistances at 1195, 1201, 1209 (20D EMA) and 1220 (March 03, 2016 high) marks respectively.
Alternatively, a sustained close below 1182 will tests key supports at 1172, 1162, 1153 (November 2015 low) /1142 (20D EMA)/ 1134/1127 (October 2015 low) /1121/1115 levels respectively.
Daily chart showing the 20D EMA has crossed over 30D and 55D EMA, which signals bullish trend. In addition, a sustained close above 1194(high as on May 24, 2016) is also required to confirm the same.
We prefer to take long position in USD/KRW only above 1194, stop loss 1177 and target 1209 marks.
News are provided by InstaForex
EU hate speech accord highlights escalating pressure over content regulation
When the European Union and four major US internet firms agreed to halt illegal hate speech from their services, they are facing intense pressure to curtail and monitor content. Under the agreement, Facebook Inc., Google's YouTube, Microsoft Corp., and Twitter Inc. will look into reports of hate posts within 24 hours and disable or revoke access to the content, if needed. Governments in the region have been responding to increasing commentaries on pro-Islamic State, anti-immigrant, and other sensitive issues on social media. Although the four companies played down the importance of the agreement, people privy to the matter disclosed the recent EU pact is inclined to implementing more prohibitions.
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Nikkei down Over 2 Pct, Gold steady Above $1210
All the major Asian stock indices are trading on a lower note on Thursday but the Japan’s Nikkei falls the most above 2 pct. In addition, Japanese Yen hits fresh 2 –week high against US dollar after comments from the BOJ’s Sato. USD/JPY breaks 109.00 marks and trading around 108.90 levels. On the other side, Gold remains well supported above $1200 and trading around $1215 marks. Expected trading range for the gold is $1208 to $1227 marks. Japan’s Nikkei N225 was trading 2.29% lower at 16,568 points in Tokyo. South Korea’s Kospi was trading 0.11% higher at 1,984.60 points. Shanghai composite index to open down 0.1 pct at 2,911.22 points and China's CSI300 index to open down 0.1 pct at 3,158.03 points. Hong Kong’s Hang seng index was trading 0.52% higher at 20,864.52 points. Australia’s S&P/ASX 200 was trading 0.83% lower at 5,278.50 points.
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Fxwirepro: Usd/jpy Stabilises Around Fresh -5 Week Low After Nfp Job Results, 105.54 Mark in Focus
USD/JPY is currently trading around 106.71 marks.
It made intraday high at 106.87 and low at 106.35 levels.
Intraday bias remains bearish till the time pair holds key resistance at 107.94 marks.
A daily close above 107.94 is required to take the parity higher towards key resistances around 110.44, 112.60 (55D EMA) and 113.42 levels respectively.
On the other side, a sustained break below 106.13 will drag the parity down towards key supports at 105.71, 105.45 and 104.55 levels respectively.
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Crumble hurdles for foreign entities, US tells China
Senior US officials implored China to downscale hindrances for foreign businesses, saying woes have escalated because of a more complicated regulatory environment. After numerous government probes hitting foreign entities and the implementation of a national security law curbing the usage of technology, foreign business sentiment has dwindled. American business groups also expressed their exasperation regarding new Chinese rulings favoring local firms, making it harder to run business in the country. US Treasury Secretary Jacob Lew said the two countries are responsible for ensuring better commercial, investment, and trade collaboration.
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Oil glides near eight-month peaks on woes over Nigeria's crude industry
Oil prices inched closer to its highest in around eight months, bolstered by anxieties over Nigeria's oil industry and data indicating bigger than anticipated drawdown in US crude inventories. An American Petroleum Institute data showed commercial oil inventories declined by 3.6 million barrels in the previous week. Analysts noted worries regarding global supply disruptions boosted the market, which surfaced when militants assaulted southern Delta swamps in Nigeria. Brent crude for August settlement remained at $51.44 per barrel, while NYMEX crude for July settlement closed at $50.40 per barrel, up 4 cents.
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Nike stands pat on Sharapova amid two-year suspension
Nike Inc. announced it would continue sponsoring Maria Sharapova although she got a two-year suspension as a drug test found her positive for using a prohibited medicine. The sports company stressed it would stay behind Russian-born tennis player, reiterating the International Tennis Federation ascribed to a faulty procedure to decide on the issue. Earlier this year, the Tennis Anti-Doping Programme found Sharapova positive for using the banned drug. The endorser will attempt to appeal the decision. Nike initially held off its relations with Sharapova to watch the probe. But the firm noted the tribunal believed the endorser did not intentionally breached the regulations. Sharapova earlier admitted she only used meldonium for medical reasons and had already apologized for overlooking the new rule.
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Fxwirepro: Japanese Yen Gains in Early Hours Despite Lower Than expected Bsi Manufacturing Index Data
USD/JPY is currently trading around 106.43 marks.
It made intraday high at 106.84 and low at 106.36 levels.
Intraday bias remains bearish till the time pair holds key resistance at 107.38 marks.
A daily close above 107.38 is required to take the parity higher towards key resistances around 107.90, 110.44, 112.60 (55D EMA) and 113.42 levels respectively.
On the other side, a sustained break below 106.25 will drag the parity down towards key supports at 105.71, 105.45 and 104.55 levels respectively.
Today Japan released BSI manufacturing index with negative numbers at -11.1% q/q vs -7.9% q/q previous release.
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Chinese investment growth abates in May, factory output steady
China's fixed-asset investment and retail sales growth cooled in May, but factory output growth remained stable.
The National Bureau of Statistics said fixed-asset investment growth dropped to 9.
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Fxwirepro: Usd/jpy Hovers Around 106.00 Mark in Early Hours, a Sustain Close Below Targets 105.19
USD/JPY is currently trading around 106.05 marks. It made intraday high at 106.42 and low at 105.93 levels. Intraday bias remains bearish till the time pair holds key resistance at 107.38 marks. A daily close above 107.38 is required to take the parity higher towards key resistances around 107.90, 110.44, 112.60 (55D EMA) and 113.42 levels respectively.
On the other side, a sustained close below 106.00 will drag the parity down towards key supports at 105.19 (October 15, 2014 low) and 104.55 levels respectively.
Today Japan will release revised industrial production data at 0430 GMT. Market expects a rise to 0.4% m/m vs 0.3% m/m previous release.
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Venezuela halts two-day work week, mitigates power disbursement
Venezuela alleviated energy distribution, which led to removing a two-day work week for almost 3 million employees in the public sector. Electricity Minister Luis Motta said increasing water supply at the Guri reservoir led to the government's decision. According to officials, the administration implemented the measures in response to drought this year and have helped lower power consumption in the country. But critics reiterated the government should be blamed, saying such moves fail to resolve electricity scarcity since people would simply use appliances in another place.
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Mitsubishi Utilized Inappropriate Mileage Data for Additional Models: Media
Japan's local media reports Mitsubishi Motors Corp. has used inaccurate fuel economy data for supplemental models that are outmoded and intends to divulge the issue soon to Japan's transport ministry. The automaker confessed in April of exaggerating the fuel economy on four of its mini-vehicles. Two models involved were made for Nissan Motor Co. and has stated that their own probing has verified that improper mileage calculations were utilized for nine other models. Asahi newspaper said Mitsubishi Motors forged data for 3 additional models and that the carmaker made hypothetical calculations for the mileage of 10 additional models that are obsolete.
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Fxwirepro: Asx200 Struggles to Break Above 5200, Good to Buy at Dips
Major resistance - 5205 (21 4H MA)
Major Support - 5130 (200 day MA)
ASX200 has recovered till 5198 at the time of writing from the low of 5143 made yesterday .The index has not able break above 5200 and has started to decline from the high made today. It is currently trading at 5170.
Short term trend is slightly bullish as long as support 5130 holds. Any violation below major support will drag the index down till 5075/5000 in the short term.
On the higher side any break above 5205 will take the index to 5250 (55 day EMA)/5300/5337 (21 day MA). It is good to buy at dips around 5160-65 with SL around 5130 for the TP of 5250
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Microsoft Objects to Labor Board Decision on Contract Worker Benefits
Microsoft Corporation has appealed to a federal court to discard a ruling by the U.S. labor board to broaden the duties of companies for contract workers with regards to benefits. The NLRB released a decision in August 2015 that expanded the definition of a joint employer which could oblige more companies to negotiate with and have accountability for workers hired by contractors. Microsoft's brief claimed that the 2015 decision was too expansive and would intimidate Microsoft and others from advising contractors to grant benefits to their employees, as the ruling would make the tech companies a joint employer. A source reported that there were nearly 81,000 temporary and contract employees under Microsoft at one point in 2015.
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Fxwirepro: Usd/jpy Fails to Sustain Below 103.00 Mark, Faces Strong Resistance at 105.19
USD/JPY is currently trading around 104.59 marks. It made intraday high at 104.82 and low at 104.22 levels. Intraday bias remains slightly bullish for the moment. A daily close above 105.19 is required to take the parity higher towards key resistances around 106.12, 107.90, 110.44, 112.60 (55D EMA) and 113.42 levels respectively. Alternatively, a sustained close below 104.00 will drag the parity down towards key supports at 103.54, 102.10 and 101.56 levels respectively. Important to note here that, 20D, 30D and 55D EMA heads down and confirms bearish trend in a daily chart. Current upside movement is short term trend correction only.
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Revlon to Acquire Elizabeth Arden for $870M
Revlon Inc. is set to buy Elizabeth Arden Inc. in an $870 million agreement. The cosmetics maker company is aiming to boost its skincare and fragrance enterprise and expand in the Asia-Pacific market with this acquisition. The equity value of the transaction is $419 million, derived from Elizabeth Arden's outstanding stocks at the beginning of May. This investment comes after Revlon majority stockholder Ron Perelman stated that he would look for strategic options for the company and to improve competition against rivals such as Estee Lauder Cos Inc and L'Oreal SA.
Elizabeth Arden's shares jumped almost 50% to 413.96 in extended trading while Revlon shared slightly rose to $31.30.
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UK House Prices Rise 0.8% In May - Rightmove
The average asking price for a house in the United kingdom was up 0.8 percent on month in May, property tracking website Rightmove said on Monday - coming in at 310,471 pounds.
That follows the 0.4 percent increase in April.
On a yearly basis, house prices advanced 5.5 percent - slowing from 7.8 percent in the previous month.
Individually, house prices in London dipped 0.2 percent on month, while every other area saw an increase.
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Asian Stocks Rose as Brexit Anxiety Recedes, Pound Surges
Asian stocks climbed as mounting expectations of the United Kingdom voting to stay in the European Union eased risk worries and the pound strengthened against other currencies.
There was a gain of 0.4% in MSCI's broadest index of Asia-Pacific shares outside Japan while Japan's Nikkei was up 1.5%, reinforced by the weakening of the lately bullish yen. Australian stocks increased 0.3% and South Korea's Kospi gained 1%.
Meanwhile, the pound surged 1.4% to $1.4573, continuing its recovery from last week's two-month low of $1.4013. It leaped 1.9% to 152.50 yen GBPJPY=R, moving away from a three-year trough of 145.34 on Thursday.
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Fxwirepro: Aussie Gains Against Major Peers After Rba Minutes, Aud/nzd Back Above 1.05 Mark
AUD/NZD is trading around 1.0504 marks.
Pair made intraday high at 1.0509 and low at 1.0459 marks.
Intraday bias remains bullish till the time pair holds initial support at 1.0455 marks.
On the top side, a sustained close above 1.0547 will drag the parity higher towards 1.0647/1.0748/1.0823/1.0976 (January 2016 high) /1.1062 (30D EMA)/1.1123/1.1298/1.1317 levels respectively. Alternatively, a daily close below 1.0455 will take the parity down towards key supports around 1.0408(June 9, 2016 low), 1.0362 and 1.0231 marks respectively.
Important to note here that, 20D, 30D and 55D EMA heads down and confirms bearish trend in a daily chart. Current upside movement is short term trend correction only.
Today Australia released meeting minutes and HPI data.
Australia’s HPI fell to -0.2% q/q vs 0.2% q/q previous release.
RBA minutes: Board judged leaving rates steady at June 7 meeting was consistent with sustainable growth.
RBA minutes: Low interest rates and weaker A$ since 2013 helped support above potential growth in Q1.
RBA minutes: Growth in household disposable income had been stronger than measures of income growth for overall economy. We prefer to take short position in AUD/NZD around 1.0525, stop loss 1.0572 and target 1.0416/ 1.0374 levels.
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Brazil agrees to provide $15 billion state debt assistance until 2018
Brazil agreed to provide debt relief to state governments amounting to 50 billion reais ($15 billion) until 2018, seeking to offer a special loan to Rio de Janeiro prior to Olympics and beef up public services.
Finance Minister Henrique Meirelles unveiled the debt relief as governors met with President Michel Temer, in which they would be given a six-month grace period and 1 ½ year of slashed payments.
Source privy to the matter said Brazilian municipality would receive 3 billion reais ($850 million) loan, payable in the following week.
Rio de Janeiro declared a financial emergency and asked for financing in order to complete the subway which will transport people to the venue of Olympic games and maintain public services during the event.
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Fxwirepro: Usd/jpy Remains Well supported Below 104.85 Mark, Upside Limited
USD/JPY is currently trading around 104.43 marks.
It made intraday high at 104.85 and low at 104.35 levels. Intraday bias remains bearish for the moment.
A sustained close below 103.94 will drag the parity down towards key supports at 102.10 and 101.56 levels respectively.
Alternatively, a daily close above 104.85 is required to take the parity higher towards key resistances around 106.12, 107.90, 110.44, 112.60 (55D EMA) and 113.42 levels respectively.
Important to note here that, 20D, 30D and 55D EMA heads down and confirms bearish trend in a daily chart.
Today is empty calendar for Japan but later today Fed chair Yellen testimony will provide further direction to the parity. RSS feed
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