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Malaysian Ringgit Slides To 2-1/2-year Low Against U.S. Dollar
The Malaysian Ringgit lost ground against the U.S. dollar in the Asian deals on Wednesday.
The ringgit touched 3.2725 against the greenback, a level not seen since March 2011. If the ringgit extends slide, it may face support around the 3.30 area. At yesterday's close, the pair finished trading at 3.2585.
News are provided by InstaForex.
Chart Focus: Dxy Readies for Channel Breakout
Recent low at trendline support led to sharp rally
2-day shallow pause seen at upper channel line - bullish
Breakout to come - higher highs / higher lows to continue
New high above July high at 84.75 to target long term trendline at 85.7
News are provided by InstaForex.
NZ Dollar Climbs To Fresh 2-month High Against Greenback
The New Zealand dollar continued to creep higher against the US dollar on Friday morning in Asia, rising to 0.8114, its strongest level since June 14.
The next likely resistance for the kiwi-greenback pair is seen around the 0.8135/40 area.
News are provided by InstaForex.
Chart Focus: Usd/krw more Upside Seems Likely
Tues saw shooting star candle but likely not meaningful
Bulls likely to test key resistance at long term trendline at 1,132
Only daily closes below 1,109 support shelf would change bullish view
Holding above trendline would see quick move to retest June high
News are provided by InstaForex.
Australian Dollar Jumps To More Than 2-week High Against NZ Dollar
The Australian dollar lifted further against the NZ dollar in Asian deals on Thursday.
The aussie approached 1.1480 against the kiwi for the first time since August 5. Further extension of bullish trend may see the aussie finding resistance around the 1.155 level. The pair was worth 1.1431 at yesterday's close.
News are provided by InstaForex.
Yen Off Early Asian Session Lows Against Majors
The Japanese yen that lost ground in the early Asian session on Friday erased some of its losses in late trading.
The yen rose to 131.89 against the euro and 106.86 against the Swiss franc, up from early Asian session's near 1-month lows of 132.35 and 107.19, respectively.
The Japanese currency that fell to fresh 2-week lows of 154.45 against the pound and 99.11 against the dollar bounced back to 154.03 and 98.86, respectively by 1:45 am ET.
News are provided by InstaForex.
Chart Focus: Eur/gbp Bulls may be Back in Driving Seat
Bullish daily candle on Friday closed well above broken trendline
0.859 has been key level since February - daily close above
Close was right on 50 day MA - closes above should be watched for
Bulls look to be regaining their strength after recent selloff
News are provided by InstaForex.
Malaysian Ringgit Slides To More Than 3-year Low Against U.S. Dollar
The Malaysian Ringgit drifted lower against the U.S. dollar in Asian deals on Tuesday. The ringgit touched 3.3310 against the greenback, a level not seen since June 2010. The ringgit may likely target support at 3.34 area. The pair finished Monday's deals at 3.3050.
News are provided by InstaForex.
Chart Focus: Eur/aud- 1.5000 Caps, Close Above Targets 1.5245
Syrian uncertainty fuelled AUD risk selling - opened +0.67%
Extended to 1.4995 early in Asia on unfounded Syrian rumours
Ma's edge higher with upper Bolli - uptrend regaining traction
1.5000 profit taking/option activity capped for a second time in Aug
Close above targets 1.5245 - 38.2% of 2008/2012 fall
News are provided by InstaForex.
Chart Focus: Aud/nzd Witnesses Modest Bounce on Capex
Opens -0.5% & extended to 1.1440 pre Aus Capex
Small bounce on generally stronger than expected Capex
Momentum studies are cresting - ma's % Bolli's positive
1.1389, 61.8% of Aug's rise is initial support
1.1465 NY close is initial resistance - bias higher
News are provided by InstaForex.
Yen Little Changed After Japan's Housing Starts, Construction Orders Datal
Following the release of Japan's housing starts and construction orders data for the month of July at 1:00 am ET, the yen was little changed against its major counterparts.
As of 1:05 am ET, the yen was trading at 130.13 against the euro, 105.58 against the Swiss franc, 98.25 against the US dollar and 152.42 against the pound.
News are provided by InstaForex.
Franc Little Changed Amid Swiss Unemployment Rate
At 1:45 am ET Monday, Swiss unemployment rate for August has released. The franc changed little against other major currencies after the data. The franc is now trading at 0.9385 against the greenback, 1.4681 against the pound, 1.2363 against the euro and 106.18 against the yen.
News are provided by InstaForex.
Philippine Export Growth Slows In July
Philippine export growth slowed in July, data published by the National Statistics Office showed Tuesday.
Exports rose 2.3 percent year-on-year to $4.836 billion in July, slower than 4.1 percent increase in June. Month-on-month, exports grew 7.7 percent.
Exports of electronic products, which accounted for 39.1 percent of the total exports revenue in July, increased 11.2 percent from a year earlier.
However, electronic product shipments slipped 5.7 percent month-on-month.
News are provided by InstaForex.
Chart Focus: Dxy-Major 81.65/70 Support a Base at Present
Opens little changed - early JPY led profit taking dip short lived
Inside day - consolidates Mon's losses above 81.70, 50% of Aug/Sep rise
Momentum studies edge lower - ma's cresting - Bolli's positive
Conflicting signals usually result in choppy range trading
200 & 20 dma's & 81.67/70 & offshore 81.98 high initial sup/res
News are provided by InstaForex.
Options- Market Snapshot-Opening Comments
1wk vols open higher on FOMC inclusion
USD/JPY risk reversals remain bid after spot setback
Huge 99.50 USD/JPY expiry now focal
AUD/USD vols and skew higher since employment data hit AUD
News are provided by InstaForex.
Research: Eu Rates Review
Quotes from Societe Generale Cross Asset Research:
-EU: 10y swaps at 2.29% trading in a tight 4 bps range in Asia. Pipeline issuance for swaps seem to be touch slower with sovereigns competing for investors cash this week. The 2y10y spread crosses 180bps barrier, steepest since Jan 2012.
News are provided by InstaForex.
German Manufacturing Employment Rises In July
Germany's manufacturing employment increased in July from a year earlier, data from the Federal Statistical Office showed Monday.
The number of employees increased 0.5 percent year-on-year to 5.3 million. The greatest number of additions were reported by the automobile manufacturing industry, data showed.
The number of paid working hours increased 3.2 percent annually to 704 million hours. Employee earnings rose 4.9 percent year-on-year.
News are provided by InstaForex.
Indian Rupee Slides To 4-day Low Against U.S. Dollar
The Indian rupee drifted lower against the U.S. dollar in early deals on Tuesday.
The rupee reached a 4-day low of 63.5160 against the greenback, compared to Monday's close of 63.2960. The rupee may probably face support around the 65.3 level.
News are provided by InstaForex.
Research: Short-Term Outlook for Inr
Quotes from Standard Chartered:
-We have a short-term Neutral FX rating on the INR. The crucial FOMC outcome may lead to considerable US dollar volatility ahead of this. Also, in his 4 September speech, Governor Rajan mentioned the possibility of further FX stabilisation measures being announced at the monetary policy meeting. The absence of such measures could dent the INR optimism that has been visible since his appointment.
News are provided by InstaForex.
Swiss Franc Advances To 1-week High Against Pound
The Swiss franc gained ground against the British pound in Asian deals on Thursday.
The franc reached a weekly high of 1.4697 versus the pound, compared to Wednesday's close of 1.4725. The next upside target for the franc is seen around the 1.46 level.
News are provided by InstaForex.
Options- Market Snapshot-Opening Comments
Quiet day in Asia as spot markets consolidate post FOMC moves Volumes have found support after initial post FOMC sell off to long term lows
JPY related volumes saw decent demand from lows on topside covering
News are provided by InstaForex.
Taiwan's Unemployment Rate Edges Up In August
Unemployment rate in Taiwan increased marginally in August, data from the Director-General of Budget, Accounting and Statistics showed Monday.
The seasonally adjusted jobless rate rose to 4.19 percent in August from 4.18 percent in July. Economists had forecast an unemployment rate of 4.2 percent.
The unadjusted rate was 4.33 percent, up from 4.25 percent in July.
The number of unemployed persons in the country rose to 497,000 from 487,000 in the preceding month. The number of employed persons also increased slightly, to 11 million from 10.98 million in July.
News are provided by InstaForex.
Singapore Dollar Slightly Off 6-day Low Against U.S. Dollar
The Singapore dollar has come off slightly from early low against the U.S. dollar in Asian deals on Tuesday.
The Singapore dollar is now worth 1.2528 against the greenback, up from early 6-day low of 1.2542. The pair ended deals at 1.2499 on Monday.
News are provided by InstaForex.
Malaysian Ringgit At 6-day Low Against U.S. Dollar
The Malaysian Ringgit weakened against the U.S. dollar in Asia on Wednesday.
The ringgit that closed yesterday's deals at 3.2160 against the greenback fell to 3.2333, marking a 6-day low. On the downside, the ringgit may find support at the 3.24 level.
News are provided by InstaForex.
Asian Stocks mixed As Investors Remain Jittery; Nikkei up 0.44%
Asian stocks were mixed Thursday in another session that was short on risk appetite as skittish investors evaluated some mediocre U.S. data and mulled the future of the Federal Reserve?s quantitative easing program.
News are provided by InstaForex.
Forex - Usd/jpy falls Despite Decent Cpi Data
The U.S. dollar traded lower against the Japanese yen during Friday?s Asian session despite some encouraging signs regarding Japan?s long-standing bout with deflation
News are provided by InstaForex.
Euro Steady Ahead Of German Retail Sales
German retail sales figures for August are due at 2:00 am ET Monday. The euro showed choppy trading against other major currencies before the data.
The euro was trading at 1.3498 against the greenback, 132.12 against the yen, 0.8350 against the pound and 1.2224 against the franc at 1:55 am ET.
News are provided by InstaForex.
Canadian Dollar Extends Slide To 5-week Low Against Euro
The Canadian dollar extended its early slide against the euro in European deals on Wednesday.
The loonie touched 1.4010 against the euro for the first time since August 28. The loonie may possibly find support around the 1.41 area. At Tuesday's close, the pair was worth 1.3964.
News are provided by InstaForex.
China Non-Manufacturing PMI Rises In September
China's official non-manufacturing purchasing managers' index increased in September, a survey by the China Federation of Logistics and Purchasing revealed Thursday. The PMI rose to 55.4 in September from 53.9 in August. A PMI reading above 50 indicates expansion of the sector.
The new orders index rose to 53.4 in September from 50.9. New export orders also increased during the month.
News are provided by InstaForex.
BoJ Keeps Monetary Easing Plan Unchanged
The Bank of Japan on Friday retained its monetary easing plan unchanged and said the economy is recovering moderately.
At the end of a two-day meeting of the nine-member Policy Board, led by Governor Haruhiko Kuroda, the central bank said it will keep the target of the monetary base expansion at an annual pace of JPY 60-70 trillion.
The Board said that the economy is recovering moderately and the year-on-year change in the core consumer price index is now in the range of 0.5-1 percent. The BoJ expects the economy to continue moderate recovery going forward while the annual rate of change in CPI is seen rising gradually.
News are provided by InstaForex.
World Bank Cuts Developing East Asia Growth Outlook
The World Bank on Monday lowered its growth projections for developing East Asia, citing slowing growth in China and other economies in the region.
The lender now forecasts 7.1 percent growth for the region in 2013, less than 7.8 percent growth it predicted in April. Growth in 2014 is seen at 7.2 percent.
The World Bank expects the Chinese economy to expand 7.5 percent this year and 7.7 percent in 2014.
News are provided by InstaForex.
Yen Off Highs Against Majors
The Japanese yen retraced early gains against other major currencies in Asian deals on Tuesday.
The yen is worth 91.51 against the aussie, 80.63 against the kiwi, 97.11 against the greenback, 107.28 against the franc, 156.07 against the pound, 131.66 against the euro and 94.01 against the loonie, down from an early high of 91.05, multi-day high of 80.05, near 2-month high of 96.57, multi-week highs of 106.90, 155.40, 131.14 and 93.63, respectively.
News are provided by InstaForex.
Singapore Dollar Declines To 8-day Low Against U.S. Dollar
The Singapore dollar fell against the U.S. dollar in Asian deals on Thursday.
The Singapore currency hit 1.2542 against the greenback, a level unseen since October 2. The Singapore dollar may possibly test support at the 1.26 level. At yesterday's close, the pair was worth 1.2498.
News are provided by InstaForex.
Kuroda Reiterates BoJ Committed To Fight Deflation
The Bank of Japan will do whatever necessary to overcome deflation, Governor Haruhiko Kuroda said Thursday.
Bond buying plan has been exerting its intended effects and Japan has been steadily moving toward overcoming deflation, Kuroda said at the Council on Foreign Relations in New York.
As the economy mired in deflation for the last 15 years, people's deflationary expectations became entrenched, he noted. Persistent deflation encouraged behavior to stay status quo, and this deprived Japan's economy of vitality.
Kuroda said the economy is on track and it would be premature to say anything about what additional measures the central bank could take if the economy falter.
News are provided by InstaForex.
Swiss Producer & Import Prices Remain Unchanged In September
Switzerland's producer and import price index remained unchanged in September compared with a year earlier, data from the Federal Statistical Office revealed Monday.
The price level of the whole range of domestic and imported products increased 0.1 percent on a month-on-month basis.
There was a notable increase in domestic and import prices of petroleum products in September from a month earlier, according to the statistical office.
News are provided by InstaForex.
Research: Daily Outlook for Eur/usd
Quotes from UniCredit Research:
-EUR-USD fell below 1.35 for most part of yesterday due to some further position adjustments ahead of the US debt ceiling deadline. We still see more seesawing in the 1.3450-1.3550 band for today, with EMU CPI data unlikely to impact.
News are provided by InstaForex.
Research: leveraged Funds Should Sell Usd-Cny 12m Ndf
Quotes from Standard Chartered:
-We recommend that leveraged funds sell USD-CNY 12M NDF. Real-money funds should maintain strategic Overweights on the CNY, KRW, TWD and THB; Underweight on HKD; and Neutral on other AXJ markets.
News are provided by InstaForex.
Australian Dollar Climbs To 2-day High Against NZ Dollar
The Australian dollar extended its overnight gains against its Tasman rival on Friday morning in Asia.
The aussie jumped to a 2-day high of 1.1378 against the New Zealand dollar, up from Thursday's NY session close of 1.1356.
Further bullish extension could lead the pair challenging the 1.14 resistance level in the near-term.
News are provided by InstaForex.
Research: US Rates Review
Quotes from Societe Generale Cross Asset Research:
-US: 10y swaps near Friday's close of 2.73%. Fed tapering delay and clouded US macro data on shutdown has led to a sharp 21bps correction lower in 10y rates from 2.88% last Wednesday. Will strong nfp tomorrow cause curve steepening to resume?
News are provided by InstaForex.
Malaysian Ringgit At 8-day Low Against U.S. Dollar
The Malaysian Ringgit lost ground against the U.S. dollar in Asian deals on Tuesday.
The ringgit slipped to 3.1850 against the greenback, a level unseen since October 14. The next downside target for the ringgit is seen around the 3.2 zone. At Monday's close, the pair was worth 3.1685.
News are provided by InstaForex.