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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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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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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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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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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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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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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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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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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.
News are provided by InstaForex
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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.
News are provided by InstaForex
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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.
News are provided by InstaForex
News are provided by InstaForex
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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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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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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.
News are provided by InstaForex
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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.
News are provided by InstaForex
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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.
News are provided by InstaForex
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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.
News are provided by InstaForex
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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.
News are provided by InstaForex
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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.
News are provided by InstaForex
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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
News are provided by InstaForex
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UK Like-For-Like Sales Slide 0.5% In June - BRC
Like-for-like sales in the United Kingdom were down 0.5 percent on year in June, the British Retail Consortium said on Tuesday. That follows the 0.5 percent increase in May. Overall sales were up just 0.2 percent. For the second quarter of 2016, overall sales were up 0.5 percent on quarter and 1.2 percent on year.
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Oil Production Slump Adds To Inflation of Venezuela
Venezuela's oil production has severely dropped. In June it has barely produced 2.15 million barrels of crude oil per day which is recognized as the weakest since 2003. This crisis indicates that the nation is dealing with a financial situation since Venezuela's economy is dependent on oil as it accounts for 96% of exports. It is the only country aside from Iraq that has reduced production for the previous month. As reported by the International Energy Agency, Venezuela has managed to produce 2.4 million barrels per day last year. Analysts affirmed that the failure of Venezuela lies in the fact that they haven't invested enough money to the oil industry. The fact that the country is facing enormous inflation is a result of the country's currency decline. Companies have found it difficult to adjust with the higher costs. Even though prices have increased, the continuous decline of production will result in oil revenue dropping further than expected
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China Pledges to Defend South China Sea Control
China pledged it would take all needed actions in order to uphold its authority over the South China Sea and declared its entitlement to impose an air defense zone over the area, after vehemently rejecting the Permanent Court of Arbitration in the Hague's decision rebuking its claims to the disputed waters. The Chinese state media called the international court a “puppet” of outside forces following its ruling that China had violated the Philippine's sovereign rights by threatening its ships and intervening in its fishing zones and oil projects. Beijing promised to undertake all the needed measures to secure its territorial control and maritime rights according to a front-page report on the state's official People's Daily. The Philippines responded carefully to the decision released late Tuesday, calling for 'restraint and sobriety'. Presidential spokesperson Ernesto Abella reported that the mood at President Rodrigo Duterte's cabinet meeting held on Wednesday was “upbeat.”
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China GDP +6.7% On Year In Q2
China's gross domestic product expanded 6.7 percent on year in the second quarter of 2016, the National Bureau of Statistics said on Friday. That was unchanged from the previous month, and it topped expectations for 6.6 percent. It was also the figure for the first half of the year. On a quarterly basis, GDP advanced 1.8 percent - exceeding forecasts for 1.6 percent following the upwardly revised 1.2 percent gain in the three months prior (originally 1.1 percent).
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Emerging company in Singapore is a potential digital landlord
A rising company in Singapore is gambling $1.7 billion on dominating Asia's digital services for technology hubs providing cloud services in the region.
AirTrunk Pte is currently working on building data centers in Sydney and Melbourne, along with the growing demand for cloud computing services. The company, who plans to compete by offering lower prices, is also set to close deals in Singapore and Hong Kong.
AirTrunk prides in its new cooling and electricity delivery system as an edge against bigger corporations. It will be investing $1.23 billion in Australia in the coming months and $350 million next year.
News are provided by InstaForex
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Fxwirepro: Nzd/usd Extends 4-Day Losing Streak, Bias Lower, Stay Short
New Zealand CPI undershot expectations in Q2, increasing the odds of RBNZ rate cut in August.
Data released today showed NZ consumer price index (CPI) rose at an annualized 0.4% pace in Q2, unchanged from Q1, but slightly lower than the estimate of 0.5%.
The pair extended downside for the the fourth-day, hit session lows of 0.7068 before paring some losses to currently trade around 0.7090 levels.
Our previous call (http://www.econotimes.com/FxWirePro-...rallies-236426) has achieved TP1 and is approaching TP2.
Recommend lowering trailing stop to 0.7170, and hold for targets. Techs are biased lower, bearish invalidation only above 0.72 levels.
Immediate support and resistance are now located at 0.7060 (trendline) and 0.7166 (20-DMA).
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Boost in Turkey's Lira sends investors running back
After failing to organize a coup, Turkey's Lira surged, reclaiming about a third of its loss as officials plan to limit Brexit's impact on the country by extensive liquidity and heightened support for the currency. The Lire rose by 1.6 percent to 2.9684 after its 4.6 decline on friday. The country is now starting to attract investors who predict a possible outflow from the country and sees potential in its rallying assets. In other news, Japan's yen continues to decline as it slipped 0.6 percent to 105.47 per dollar. US stocks, meanwhile, have advanced as S&P 500 index rose to 0.2 percent.
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Aud/usd falls Below 0.7570, weighed by Nzd/usd
NZD/USD falls 1.15%, weighing on AUD/uSD ahead of RBA minutes AUD/USD briefly fall below 10-day MA at 0.7569
Next supprot at 38.2 fibonacci of 0.7505/.7675 move at 0.7535
RBA minutes out at 0.1:30 GMT
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China to Continue Building on Contested Islands
China's navy chief Admiral Wu Shenli told his counterpart U.S. Chief of Naval Operations Admiral John Richardson during a meeting in Beijing that the communist nation would proceed with construction work on the contested South China Sea islands despite foreign objection, emphasizing China's rejection of the unfavorable ruling from the arbitration tribunal in the Hague.
Admiral Wu's statement on Monday came after the international tribunal court rebuked China's historic and economic claims over the majority of the South China Sea with the release of its July 12 decision, favoring the Philippines who brought the case with a legal victory.
The Chinese navy chief stated that they will not halt their construction activities on Nansha Islands, notwithstanding any nation or individual that express their opposition. He defended the construction as 'justified and lawful' and cautioned that undertakings to pressure China will only have the opposite results, according to reports of Xinhua News Agency.
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Fxwirepro: Usd/krw Struggles to Break Key Resistance at 1142, Buy on Dips
USD/KRW is currently trading around 1140 levels.
It made intraday high at 1143 and low at 1139 levels.
Intraday bias remains bullish till the time pair holds key support at 1130 mark.
A sustained break below 1128(October 2015 low) will tests key supports at 1121/1115/1101/1095/1078/1063 levels respectively.
Alternatively, a daily close above 1142 will drag the parity higher towards key resistances at 1152, 1162, 1176, 1182, 1196, 1201, 1209 (20D EMA) and 1220 (March 03, 2016 high) marks respectively.
In addition, South Korea’s Kospi was trading 0.25% lower at 2,011.08 points.
We prefer to take long position in USD/KRW only above 1142, stop loss 1128 and target 1152/ 1168 marks.
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Startup transactions in global decline
Startup companies supported by venture capital continue to lie low in terms of deals, and are burdened further by economic concerns and increased funding.
Reasons behind this point to larger startups such as Snapchat and Uber Technologies accounted for majority of the funding. CB Insights chief executive also forecast that there would be no improvement in terms of deal activity in the next quarters and that large deals will create an impression that funding levels are healthy.
It was also reported that despite several emerging companies in the second quarter, there would still be more of them that will be acquired at a lower value.
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Fxwirepro: Kiwi Depreciates Against Major Peers As Rbnz Signals more Easing
AUD/NZD is trading around 1.0706 marks.
Pair made intraday high at 1.0731 and low at 1.0628 marks.
Intraday bias remains bullish till the time pair holds key support at 1.0610 marks.
On the top side, a sustained close above 1.0722 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.
Alternatively, a sustained break below 1.0611 mark will take the parity down towards key supports around 1.0560, 1.0420, 1.0315(May 05, 2015 low), 1.0261 and 1.0109 marks respectively.
Important to note here that in a daily chart, 20D, 30D and 55D EMA heads down and confirms the bearish trend. Current upside movement is short term trend correction only. RBNZ says a decline in the exchange rate is needed.
RBNZ says outlook for inflation has weakened due to high exchange rate.
RBNZ says likely further policy easing will be required. RSS feed
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Fxwirepro: South Korean Won Opens Onshore Trade at 1,137.5 Per Dollar, Faces Strong Support at 1128
USD/KRW is currently trading around 1134 levels.
It made intraday high at 1136 and low at 1133 levels.
Intraday bias remains bearish till the time pair holds key resistance at 1142 mark.
A sustained break below 1128(October 2015 low) will tests key supports at 1121/1115/1101/1095/1078/1063 levels respectively.
Alternatively, a daily close above 1142 will drag the parity higher towards key resistances at 1152, 1162, 1176, 1182, 1196, 1201, 1209 (20D EMA) and 1220 (March 03, 2016 high) marks respectively.
In addition, South Korea’s Kospi was trading 0.05% lower at 2,011.28 points.
We prefer to take short position in USD/KRW only below 1128, stop loss 1142 and target 1115/ 1101 marks.
News are provided by InstaForex
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Dunkin’ Brands Shares Drop on Weak Growth, Soft Revenue
Dunkin' Brands shares dropped by as much as 4% in early trading on Thursday following the company's announcement of weaker-than-predicted sales growth and headwinds in international markets. But the stock regained ground and recovered its losses and closed at a modestly lower level.
Same-store sales at overseas locations of the company's Baskin-Robbins and Dunkin' Donut brands in the second quarter was down 6.6% and 3.1% respectively. The results are significantly lower than analysts' forecasts.
Sales in the U.S. stores also did not meet Wall Street approximations. Dunkin' announced same-store sales rise of 0.5%, lower than the expected 0.9% growth. Baskin-Robbins rose by 0.6% but was anticipated to rise 3.4% by Wall Street.
But Dunkin' Brands income topped Wall Street predictions, reporting profit of 57 cents per share compared to an estimate of 56 cents per share, with its revenue at $216.3 million. Analysts predicted an average revenue of $220.2 million.
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Fxwirepro: Singapore Dollar falls in Early Hours of Asia ahead of Cpi Data
https://forex-images.instaforex.com/...ingapore/6.jpg
USD/SGD is currently trading around 1.3613 marks.
It made intraday high at 1.3619 and low at 1.3573 levels. Intraday bias remains bullish till the time pair holds key support at 1.3539 marks. A daily close below 1.3539 will drag the parity down towards key supports at 1.3496/1.3420/1.3357 (April 20, 2016 low)/1.3318/1.3302/ 1.3271 levels.
Alternatively, a sustained close above 1.3627 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 upside movement is short term trend correction only.
Singapore will release CPI data at 0500 GMT.
We prefer to take long position in USD/SGD around 1.3602, stop loss 1.3539 and target 1.3740.
News are provided byInstaForex.
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Fxwirepro: Yen Gains in Early Hours of Asia on the Back of Higher Than expected Sppi Data
USD/JPY is currently trading around 104.91 marks.
It made intra-day high at 105.89 and low at 104.76 levels. Intraday bias remains slightly bearish for the moment.
A daily close above 106.12 will take the parity higher towards key resistances around 106.72, 107.49, 107.90 and 109.13 levels respectively.
On the other side, a sustained break below 105.42 will drag the parity down towards key supports at 104.62, 103.97, 102.45, 101.47, 100.59, 99.99, 99.27 and 98.78 levels respectively.
Today Japan released SPPI data with positive numbers at 0.2% m/m vs 0.1% m/m consensus forecast.
It's a leading indicator of consumer inflation - when corporations pay more for services the higher costs are usually passed on to the consumer.
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Fxwirepro: Aussie Gains Against Major Peers ahead of Cpi Data
AUD/NZD is currently trading around 1.0654 marks.
Pair made intraday high at 1.0656 and low at 1.0623 marks. Intraday bias remains bullish till the time pair holds key support at 1.0610 levels.
On the top side, a sustained close above 1.0727 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.
Alternatively, a sustained break below 1.0610 mark will take the parity down towards key supports around 1.0560, 1.0420, 1.0315(May 05, 2015 low), 1.0261 and 1.0109 marks respectively.
Important to note here that in a daily chart, 20D, 30D and 55D EMA heads down and confirms the bearish trend. Current upside movement is short term trend correction only.
Australia will release CPI data at 0130 GMT. Markets anticipate a 0.4% Q/Q rise in the CPI for the June quarter vs -0.2% Q/Q previous release.
News are provided by InstaForex
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Twitter Shares Plunge on Weak Outlook, Slowing Revenue Growth
Twitter announced that its revenue was up by only 20% to $602 million in the second quarter of the fiscal year, its smallest recorded gain and eight-consecutive period of contracting growth. The social-media company further cautioned that demand from advertisers that serve as its primary source of revenue, is weaker than predicted, dimming its outlook for the third quarter.
Twitter posted a net loss of $107.2 million or 15 cents a share against the loss of $136.7 million or 21 cents a share a year earlier. Twitter's shares plummeted by 11% to $16.39 in after-hours trading following the report, erasing gains from the prior month.
In a statement to shareholders, the social media firm has acknowledged that it is struggling to compete with other social media platforms, particularly in the advertising offerings. Twitter's CFO Anthony Noto stated in a interview that the company will venture into other areas of advertising budgets to increase demand and eventually boost revenues.
News are provided by InstaForex
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Fxwirepro: Usd/sgd Hovers Around 1.3500 Mark, Sustain a Break Below Targets 1.3420
USD/SGD is currently trading around 1.3496 marks.
It made intraday high at 1.3536 and low at 1.3478 levels.
Intraday bias remains bearish till the time pair holds key resistance at 1.3537 marks.
A daily close below 1.3496 will drag the parity down towards key supports at 1.3420/1.3357 (April 20, 2016 low)/1.3318/1.3302/ 1.3271 levels.
Alternatively, a sustained close above 1.3537 will tests key resistances at 1.3638, 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.
We prefer to take short position in USD/SGD only below 1.3480, stop loss 1.3537 and target 1.3420/1.3357.
News are provided by InstaForex
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Facebook Earnings Exceed Expectations
Facebook reported earnings of $2 billion or 1.5 billion pounds in the second quarter of the year, up from $719 million in the same period last year.
Analysts had expected revenue of $5.8 billion, but the social media giant has surpassed even those high forecasts, posting $6.4 billion in revenue. Revenue has surged in all geographic zones, rising in Asia and Europe at 19% and 21% respectively.
Mobile advertising, which has been highly advocated by Facebook to businesses, composed 84% of Facebook's advertising revenue in the second quarter rising from 76% last year. The firm profited from an inflow of advertising money being redirected from television towards digital platforms. Facebook's number of monthly-active-users, an important gauge for advertisers, jumped by 15% to 1.71 billion as of the end of June 2016.
Shares of the company jumped 7% in after-hours trading.
News are provided by InstaForex
