Forex News from InstaForex

Japan Industrial Output Jumps 1.9% In June

Industrial production in Japan was up 1.9 percent on month in June, the Ministry of Economy, Trade and Industry said on Friday.
That beat forecasts for a gain of 0.5 percent following the 2.6 percent decline in May.
On a yearly basis, output slipped 1.9 percent - also exceeding forecasts for -2.9 percent after easing 0.4 percent in the previous month.
Upon the release of the data, the METI upgraded its assessment of industrial production, saying that it continues to fluctuate indecisively but shows signs of increasing in parts.

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Microsoft to Axe 2, 850 More Jobs

Microsoft plans to cut 2, 850 more jobs, adding to the formerly disclosed job cuts as it restructures its sales operation and shuts down its mobile phone hardware business division.

The software company announced the latest lay-off in a filing to the U.S. Securities and Exchange Commission on Thursday.

A spokesperson said that nine hundred of the job cuts in the global sales division have already been done. Microsoft is projecting the remaining 1, 950 cuts to be completed by 2017. Jobs in the sales organization and mobile phone division will be included in the cuts. The most recent cuts comes after the 1, 850 layoffs in the phone unit disclosed in May.

The job cuts are part of a reorganization that came after COO Kevin Turner's departure from Microsoft, leading to the restructuring of the sales group by Chief Executive Satya Nadella.

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South Korea Manufacturing Sector Slows In July - Nikkei

The manufacturing sector in South Korea continued to expand in July, albeit at a slower pace, the latest survey from Nikkei showed on Monday with a manufacturing PMI score of 50.1.

That's down from 50.5 in June, and it remains just barely above the boom-or-bust line of 50 that separates expansion from contraction.

Individually, business conditions stagnated following the improvement in June.

Production was barely higher, although job growth picked up.

Total new business declined, but growth of new export work hit an 18-month high.

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Sony Advances After Posting Unexpected Profit on PlayStation Games

Sony Corp. advanced the biggest in three weeks after its invigorated games division pushed the Japanese company to beat quarterly results forecast, justifying CEO Kazuo Hirai's shifted emphasis on media and entertainment.

Sony shares gained as much as 3.5% to 3, 397 yen, the biggest recorded jump on an intraday basis since July 11, bringing its gains for the year to a total of 13%.

The company reported a net income of 21.2 billion yen or $205 million in the second quarter, against the expectations of analysts of a 39-billion yen loss. Sony retained its projection of 80 billion yen annual profit.

It was the robust growth of the company's game division that boosted the firm's net income. Its impressive performance has helped investors look beyond the effect of the Kumamoto earthquakes that has closed down the main manufacturing site for components of its digital cameras. Sony also report an unexpected profits in its phone division, reflecting the company's efforts to cut down its mid-range line-up and its withdrawal from unprofitable markets.

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Australia Building Approvals Slide 2.9% In June

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The total number of building approvals issued in Australia was down a seasonally adjusted 2.9 percent on month in June, the Australian Bureau of Statistics said on Tuesday - coming in at 18,693.

That was well shy of forecasts for an increase of 0.8 percent following the 5.2 percent contraction in May.

Individually, residential building approvals were down 3.4 percent on month, while non-residential approvals slid 2.4 percent.

On a yearly basis, building approvals sank 5.9 percent after sliding 9.1 percent in the previous month.

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China Services PMI 51.7 In July - Caixin

The services sector in China continued to expand in July, albeit at a slower pace, the latest survey from Caixin showed on Wednesday with a services PMI score of 51.7.

That's down from 52.7 in June, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

Also, the composite index came in with a reading of 51.9, up from 50.3 in the previous month.

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Bitcoin Plunges After Hackers Steal $65 Million from HK Exchange

Bitcoin prices plunged following the breach of one of the largest exchanges that halted trading after hackers stole around $65 million worth of the digital currency.

Bitcoin sagged 5.3% versus the dollar as of 10:17 a.m. in Tokyo Trading, adding up its two-day decline to 13%, with the currency almost down 20% this week. Prices were also down 6.2% on Monday, but it was not sure if the decline was linked to the breach.

Hong-Kong based Bitfinex stopped trading, deposits and withdrawals on Tuesday after recognizing the security breach. It stated that it was probing details and working with authorities, but also admitted that it was a large breach that some bitcoin were stolen from its users. Bitfinex stopped all trading activities in all digital currencies, including the ethereum, but assured participants that losses were restricted only to bitcoin.

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Fxwirepro: Aussie Gains Against Major Peers After Rba’s Monetary Policy Statements

AUD/NZD is currently trading around 1.0641 marks.
Pair made intraday high at 1.0647 and low at 1.0619 marks. Intraday bias remains bullish till the time pair holds key support at 1.0623 levels.
In addition, a sustained close above 1.0623 will drag the parity higher towards 1.0727/1.0823/1.0976 (January 2016 high) /1.1062 (30D EMA) /1.1123/1.1298/1.1317 levels respectively.
Alternatively, a sustained break below 1.0588 mark will take the parity down towards key supports around 1.0497, 1.0450, 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.
RBA: Underlying inflation to remain under 2 pct for much of forecast period, reach 2 pct by end 2018.
RBA: Prospects for economy positive, but low inflation allows for "even stronger growth". RBA says A$ remains significant source of uncertainty for inflation, growth forecasts.
RBA forecasts underlying inflation 1.5 pct by end 2016, 1.5-2.5 pct end 2017, 1.5-2.5 pct end 2018.
RBA forecasts GDP growth 2.5-3.5 pct end 2016, 2.5-3.5 pct end 2017, 3-4 pct end 2018.
RBA says unemployment to fall only a little out to 2018, employment growth to be modest this year.
RBA quarterly statement repeats policy easing to help foster growth, offers no forward guidance.

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Fitch Retains Austria's Rating At 'AA+'

Fitch Ratings affirmed sovereign ratings of Austria at 'AA+' with stable outlooks late Friday.

The rating agency said the economic growth is expected to remain on a steady upward trend and average 1.6 percent in 2016-17 after four years of sluggish activity.

The underlying growth is forecast to pick up in 2017 as investment continues its steady recovery and net exports make a positive contribution to growth.

The fiscal deficit was better than expected in 2015 at 1.1 percent of GDP compared with a 1.9 percent target, Fitch said.

Further, the agency estimates Austria's fiscal policy to remain prudent, producing small primary general government surpluses during 2016-2018.

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Oil Prices Climb on Revived Output Restrain Talks by OPEC Members

Oil prices advanced on Monday, elevating on reports of revived talks by some members of the Organization of the Petroleum Exporting Countries to curb output.

U.S. WTI crude oil futures climbed 0.5% from their last close, up by 21 cents at $42.01 per barrel while Brent crude futures were up 0.29% by 13 cents at $44.40 per barrel.

The increase in prices were brought on by the renewed calls by several OPEC members to halt production in an effort to restrain output that is persistently outpacing demand. OPEC members including Kuwait, Ecuador and Venezuela are perceived to be behind the renewed talks according to analysts. However, sentiment is continued to be weighed down by the increase in U.S. drilling with rigs operating in the country reported to be currently at its highest number since March.

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China CPI +1.8% On Year In July

Consumer prices in China were up 1.8 percent on year in July, the National Bureau of Statistics said on Tuesday.

That was in line with expectations and down from 1.9 percent in June.

Prices for food jumped an annual 3.3 percent, while non-food prices added 1.4 percent.

The bureau also said that producer prices were down 1.7 percent on year - exceeding expectations for -2.0 percent after tumbling 2.6 percent in the previous month.

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U.S. Stocks Retreat From Record Highs

U.S. equities climbed down from record highs on Monday as losses in healthcare shares pared gains due to elevated oil prices and a strong performance by the U.S. jobs market in July.

The benchmark S&P 500 touched a record intraday high at the beginning of trading day before closing down at 0.09% at 2.180. 89 while the Dow Jones industrial average was down 0.08%, closing at 18, 529.29. The Nasdaq Composite fell 0.15% to 5, 213.14.

Seven out of the 10 key S&P indexes slid, with the healthcare group leading the losses. Bristol-Myers led the drop and fell for the second day, losing 4.71% following its statement on Friday that its lung-cancer treatment drug did not pass a vital late-stage study.

Meanwhile, the energy index advanced 1.22% with Exxon Mobil and Schlumberger climbing 1.18% and 1.6% respectively.

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Australia Home Loans Add Just 1.2% In June

The total number of dwelling commitments in Australia issued in June was up a seasonally adjusted 1.2 percent on month, the Australian Bureau of Statistics said on Wednesday - coming in at 57,247.

The headline figure was shy of estimates for an increase of 2.3 percent following the upwardly revised 0.8 percent contraction in May (originally -1.0 percent).

Investment lending climbed 3.2 percent to A$11.785 billion after rising 5.3 percent in the previous month.

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Dollar Surges to One-Month High Amid Mixed Economic Data

Following mixed U.K. economic data, the dollar has surged to its highest close since July 8 by 0.3 percent against the British pound. The WSJ Dollar Index has dropped to 0.3 percent with 86.63 while the dollar decreased against the Canadian dollar and the Japanese Yen.

A business survey from the U.K. has indicated that the like-for-like sales have grown by 1.1 percent in July however manufacturing data was lower-than-expected while trade gap is expanding. The dollar has prolonged declines against currencies of emerging markets which remain strong, implying that investors believe that the Fed will not raise rates in the upcoming term.

The dollar has reached its lowest level last seen in July 2015 when it was weak against the Brazilian real by 0.9 percent, down by 0.6 percent against the Mexican peso and fell by 1.1 percent against the South African rand.

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Singapore GDP Climbs +2.1% On Year In Q2

Singapore's gross domestic product expanded 2.1 percent on year in the second quarter of 2016, the Ministry of Trade and Industry said on Thursday - accelerating from the 1.8 percent gain in the three months prior.

On a quarterly annualized basis, the Singapore economy expanded 0.3 percent - up from 0.2 percent in the previous three months.

Upon the release of the data, the MTI narrowed its GDP forecast for 2016 to 1 to 2 percent from 1 to 3 percent.

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New Zealand Services Sector Slows In July

The services sector in New Zealand continued to expand in July, albeit at a slower pace, the latest survey from Business NZ revealed on Monday with a Performance of Services Index score of 54.2.

That's down from the downwardly revised 56.4 (originally 56.7).

It remains well above the boom-or-bust line of 50 that separates expansion from contraction.

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Oil Prices Edge Up on Potential OPEC Production Freezes

Oil prices climbed on Monday on growing speculation that OPEC will take steps to prop up prices in the oversupplied oil market.

Brent crude oil futures traded at $47.13 per barrel, up 16 from their last close while U.S. W.T.I. crude futures climbed by 18 cents at $44.67 a barrel.

Oil prices advanced on heightening speculation of possible freezes in oil production by OPEC members as Saudi Arabia indicated that it is set to talk about steadying the markets at the informal OPEC meeting on September.

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Australia New Motor Vehicle Sales Slip 1.3% In July

The total number of new motor vehicle sales in Australia was down a seasonally adjusted 1.3 percent on month in July, the Australian Bureau of Statistics said on Tuesday, coming in at 98,062.

That follows the upwardly revised 3.5 percent increase in June (originally 3.1 percent).

Individually, sales for passenger vehicles added 0.4 percent on month and sales for other vehicles fell 0.4 percent. Sales for sports utility vehicles were flat.

On a yearly basis, new motor vehicle sales were up 1.6 percent after climbing an upwardly revised 2.3 percent in the previous month (originally 2.1 percent).

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Gold Increases Due to Weak Dollar and Economic Data from Japan

Gold prices increased as the weak U.S. dollar and the poor economic data from Asia aided in reversing early losses. Gold for December delivery closed by 0.3 percent with $1,347.50 per troy ounce on the Comex division of the New York Mercantile Exchange.

The data which has shown that Japan's economy has stalled during the second quarter by expanding by an annualized 0.2 percent also supported the precious metal according to ETF Securities' commodities strategist Nitesh Shah. Gold is seen as a haven from currency weakness and inflation and so loose monetary policy will likely increase the demand for the precious metal.

Gold had momentarily increased above $1,360 on Friday following the reporting of the weak U.S. retail sales figures, and had settled lower.

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Australia Jobless Rate Falls To 5.7% In July

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The unemployment rate in Australia was a seasonally adjusted 5.7 percent in July, the Australian Bureau of Statistics said on Thursday.

That beat forecasts for 5.8 percent, which would have been unchanged from the June reading.

The Australian economy added 26,200 jobs in July, blowing past expectations for a gain of 10,000 jobs following the increase of 7,900 jobs in the previous month.

The participation rate came in at 64.9 percent - unchanged and in line with expectations.

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Fxwirepro: Usd/sgd Exhibits Range Bound Movement, Intraday Bias Remains Neutral

USD/SGD is currently trading around 1.3415 marks.
It made intraday high at 1.3419 and low at 1.3383 levels. Intraday bias remains neutral till the time pair holds key resistance at 1.3475 marks.
A daily close below 1.3391 will drag the parity down towards key supports at 1.3347/1.3313/1.3302/ 1.3271 levels. Alternatively, a sustained close above 1.3475 will test key resistances at 1.3537, 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 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.
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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Baltic Exchange Board and SGX Agrees on Bid for London Firm

Singapore Exchange and the Baltic Exchange announced on Monday that they have agreed on SGX's bid of 160.41 pounds per share and 19.30 pounds per share as a final dividend, higher than the initial 18.80 pounds per share dividend extended two weeks prior. The deal puts the market value of the London exchange firm at around 87 million pounds.

SGX looks to grow its presence in Europe through its acquisition of the Baltic Exchange. The takeover is part of SGX's ambition to further delve into the market for shipping finance with the Baltic's membership that is dominated by European shipowners.

The deal is seen to be completed by November if a vote of shareholders backs the takeover.

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New Zealand Has NZ$433 Million Trade Deficit In July

New Zealand posted a merchandise trade deficit of NZ$433 million in July, Statistics New Zealand said on Wednesday - or 11 percent of exports.

The headline figure missed forecasts for a shortfall of NZ$325 million following the downwardly revised surplus of NZ$110 million in June (originally NZ$127 million).

Exports were worth NZ$3.96 billion, shy of expectations for NZ$4.07 billion and down from NZ$4.26 billion in the previous month.

Meat and edible offal led the fall in exports, down NZ$97 million (19 percent).

Milk powder fell NZ$118 million (23 percent) while the quantity rose 0.9 percent.

Fruit fell NZ$17 million (5.7 percent) while the quantity rose 3.9 percent.

Australia was the only top export destination to rise in value, up NZ$37 million.

"The meat export falls this month are partly due to record meat exports this time last year," international statistics senior manager Jason Attewell said. "Meat values in July 2015, off the back of a record high meat season, were 31 percent higher than the average value for the previous five July months."

Imports came in at NZ$4.40 billion versus forecasts for NZ$4.45 billion and up from NZ$4.13 billion a month earlier.

Intermediate goods led the fall in imports, down NZ$296 million (15 percent) due to crude oil.

Consumption goods fell in value for the first time in 23 months, down NZ$114 million (9.6 percent).

The only top import partner to rise in value was the United States, up NZ$83 million.

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Qantas Profit Soars to A$1.53 billion and Pays First Dividend

Qantas Airways Ltd.'s Chief Executive Officer Alan Joyce's turnaround program has produced a record annual profit as the airline has announced its first dividend since 2009 and has given bonuses to its 25,000 employees. According to a Wednesday filing, Australia's flag carrier airline is going to pay a final dividend of seven Australian cents per share and buy back almost A$366 million ($279 million) worth of stocks. During the 12 months that ended on June 30, earnings before tax and one-time items soared by 57 percent into A$1.53 billion.

The A$2 billion transformation program includes thousands of jobs that were cut, aircraft orders that were delayed and unprofitable routes which were pulled out. According to Joyce, the three-year plan is on the track to exceeding the initial target. Qantas has been doing well as shares have increased by 4.1 percent to A$3.54 with the stock nearly tripling ever since Joyce has announced the program. In the past year, Qantas has delivered two one-off capital returns which produces an overall of beyond A$1 billion.

The airline's domestic business underlying operating profit has jumped by 20 percent to A$578 million and has significantly surged by 92 percent with A$512 million on its international unit.

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Brazil Senate approves amendment of revenue appropriation

Brazil's Senate approved a constitutional amendment in which the government can readily use up to 30% of tax revenues which would have been allocated for other expenditures.

Called the DRU, this will help the Brazilian government ensure that their expenses is in check as it aims to curb its fiscal deficit in the future.

The legislation, which was passed faster than estimated, had voided in 2015 and will not be prolonged until 2023. President Michel Temer pledged to resolve the fiscal deficit in the country.

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Overall Japan Inflation Slides 0.4% In July

Consumer prices in Japan slipped 0.4 percent on year in July, the Ministry of Internal Affairs and Communications said on Friday - matching expectations and unchanged from June's annual reading.

Core CPI, which excludes volatile food costs, slid 0.5 percent on year - missing forecasts for -0.4 percent, which would have been unchanged.

Among the individual components, fuel costs were down 7.7 percent on year, followed by communications (-2.6 percent), furniture (-0.8 percent) and housing (-0.1 percent).

Clothing prices jumped an annual 2.4 percent, followed by education (1.6 percent), food (1.1 percent), medical care (0.9 percent) and recreation (0.8 percent).

On a monthly basis, overall inflation and core CPI both dipped 0.2 percent.

Among the individual components, clothing prices skidded 2.6 percent on month, followed by fuel and furniture (both -0.8 percent), and food and recreation (both -0.1 percent).

Communications and recreation costs gained 0.1 percent, while housing, education and medical care all were flat.

Overall inflation in Tokyo, considered a leading indicator for the nationwide trend, slipped 0.5 percent on year in August. That missed expectations for 0.4 percent, which would have been unchanged.

Core CPI in August was down an annual 0.4 percent - matching expectations and the same as in the previous month.

Among the individual components, fuel costs were down 9.7 percent on year, followed by communications (-1.4 percent), furniture (-1.9 percent) and housing (-0.5 percent).

Clothing prices jumped an annual 2.4 percent, followed by recreation (0.9 percent), education and medical care (both 0.8 percent) and food (0.4 percent).

On a monthly basis, both overall and core inflation advanced 0.1 percent.

Individually, recreation costs gained 1.7 percent on month, followed by communications (0.5 percent).

Fuel prices slid 1.5 percent, while clothing prices fell 1.2 percent and food dipped 0.2 percent.

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Italy Declares State of Emergency as Earthquake Death Toll Hits 250

Italy's government declared a state of emergency in the areas hit hardest by the massive earthquake on Wednesday. The 6.2 magnitude quake struck in the early hours of Wednesday in central Italy, severely damaging several towns.

At the minimum, 250 people have died from the disaster while 365 other people were injured. Rescue teams have continued to work through the rubble of destroyed buildings for a second night, but hopes of finding more survivors are dimming.

Prime Minister Matteo Renzi has pledged 42 million pounds in funds for rehabilitation of the affected areas. Aside from the funds, the Italian premier has scrapped taxes for locals in the disaster zones. He also announced a new measure called “Italian Homes” to address the criticism of the Italian media over poor-quality home construction, but he also stated that it was ridiculous to think that the nation could establish full quake-proof establishments.

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Australia Building Permits Surge 11.3% In July

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The total number of building permits issued in Australia was up a seasonally adjusted 11.3 percent on month in July, the Australian Bureau of Statistics said on Tuesday - coming in at 20,987.

That beat forecasts for an increase of 1.1 percent following the 2.9 percent contraction in June.

On a yearly basis, building approvals climbed 3.1 percent versus expectations for a decline of 8.3 percent after slipping 5.9 percent in the previous month.

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Japan Industrial Production Unchanged In July

Industrial output in Japan was flat on month in July, the Ministry of Economy, Trade and Industry said on Wednesday.

That missed forecasts for an increase of 0.7 percent following the 2.3 percent jump in June.

On a yearly basis, industrial production fell 3.8 percent - also missing forecasts for a decline of 3.0 percent following the 1.5 percent drop in the previous month.

Upon the release of the data, the METI maintained its assessment of industrial production, saying that it continues to fluctuate indecisively but shows signs of increasing in parts.

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Dollar Climbs to One-Month High while Investors Weigh on Fed Rate Hike

The U.S. dollar increased to a one-month high against a basket of currencies while investors carry on by assessing the next increase in interest rates. The WSJ Dollar Index increased by 0.6 percent to 87.06 bound to its highest closing level since July 28.

The dollar increased by 1.1 percent against the Japanese yen to ¥103.05. The euro slipped by 0.4 percent to $1.1143. According to CME Group data, investors currently see a 27 percent likelihood of a Federal Reserve rate increase in September as well as a 55 percent likelihood in December. A gauge of U.S. consumer confidence during August increased to its highest level in almost a year as a different report has shown that consumer spending was also up for the fourth consecutive month in July.

The dollar was higher against emerging market-currencies. The dollar climbed against the Mexican peso by 0.8 percent and also increased against the South African rand by 0.6 percent.

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Indonesia Manufacturing Sector Moves To Expansion - Nikkei

The manufacturing sector in Indonesia turned to expansion in August, the latest survey from Nikkei showed on Thursday with a manufacturing PMI score of 50.4.

That's up from 48.4 in July, and it moves above the boom-or-bust line of 50 that separates expansion from contraction.

Individually, there was a rebound in order book, which fueled the mild increase in output.

Manufacturers lowered their selling prices, in spite of rising costs. Buying levels increase, although employment fell.

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British Government to Proceed with Brexit

U.K.'s government will reportedly “push ahead” to set off Brexit despite the absence of Parliamentary approval, according to Downing Street.

Following a meeting of Prime Minister Theresa May's cabinet at Chequers, a statement released said ministers reach an agreement regarding the need for a distinct deal for the United Kingdom. This involved controls on European Union migration and a “positive outcome” on trading, Downing Street reported. May told cabinet members Britain would not remain in the EU in an unofficial way.

May reiterated that official negotiations with the rest of the European Union members regarding the Brexit will not start this year.

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Fxwirepro: South Korean Won Almost Flat Against Usd Despite Higher Than expected Gdp Data

USD/KRW is currently trading around 1,118 levels. It made intraday high at 1,119.30 and low at 1,118.40 marks. Intraday bias remains neutral till the time pair holds key support at 1,107 levels.
A sustained close below 1,107 will test key supports at 1,092/1,078/1,063/1044 levels respectively.
Alternatively, a daily close above 1,128 will drag the parity higher towards key resistances at 1,128, 1,138, 1,142, 1,152, 1,162, 1,176, 1,182, 1,196, 1,201, 1,209 (20D EMA) and 1,220 (March 03, 2016 high) marks respectively.
In addition, South Korea’s Kospi was trading around 0.05 percent lower at 2,032.32 points.
South Korea’s Q2 GDP growth increases to 0.8 % vs previous 0.7 %. South Korea’s Q2 GDP growth y/y increases to 3.3 % vs previous 3.2 %.
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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Stocks Ended Slightly Changed Ahead of Job’s Report

Major U.S. stock indexes rose and then closed slightly changed prior to the job's report. The August job's data will be a significant indicator for the Federal Reserve official's decision regarding the interest-rate hike.

The decline of oil prices have pulled down energy shares, however stocks increased near the closing of the session.The S&P 500's energy sector slipped by 0.3 percent and shares of Chevron dropped to 37 cents or 0.3 percent to $100.21. The S&P 500's financial shares was down by 0.4 percent. The broader S&P 500 slightly changed by declining 0.004 percent to 2170.86. The Nasdaq Composite increased by 0.3 percent to 5227.21 while shares of technology jumped. The Dow Jones Industrial Average climbed by 0.1 percent to 18419.30. In the blue-chip index, Wal-Mart Stores drove gains surging by two percent to 72.84.

The Institute for Supply Management has announced that the manufacturing activity index was down to 49.4 in August.

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Fxwirepro: Usd/krw Remains Well supported Below Key Resistance at 1,122, Consistent Break Above Targets 1,142

USD/KRW is currently trading around 1,117 levels.

It made intraday high at 1,119 and low at 1,115 marks.

Intraday bias remains neutral till the time pair holds key resistance at 1,122 levels.

A daily close above 1,122 will drag the parity higher towards key resistances at 1,138, 1,142, 1,152, 1,162, 1,176, 1,182, 1,196, 1,201, 1,209 (20D EMA) and 1,220 (March 03, 2016 high) marks respectively.

On the other side, a sustained close below 1,107 will test key supports at 1,092/1,078/1,063/1044 levels respectively.
In addition, South Korea’s Kospi was trading around 0.84 percent higher at 2,055.32 points.

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.

News are provided by InstaForex

Dollar Strengthens after U.S. Payroll Data

The U.S. dollar strengthens following the disappointing U.S. employment growth figures for August which only slightly affected the perception of investors regarding the Federal Reserve's likelihood of increasing the interest rates in the following months. Nonfarm payrolls increased by 151,000 jobs in August, according to the U.S. Labor Department.

Average hourly wage earnings increased by 0.1 percent, which falls behind the 0.2 percent growth of market expectations. As the increase of the average payroll during the last three months tops 200,000, investors have then concluded that the jobs report would not be a severe impact to the Fed's plan to lift interest rates. U.S. fed funds futures price is at a 20 percent likelihood of a rate hike this September and a 60 percent odds by the end of the year.

The dollar's index against a basket of six major currencies .DXY=USD was buoyed as it immediately gained from its one-week low of 95.189 following the payroll data.

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Australia Q2 Current Account Deficit A$15.535 Billion

Australia had a seasonally adjusted current account deficit of A$15.535 billion in the second quarter of 2016, the Australian Bureau of Statistics said on Tuesday.

That beat forecasts for a shortfall of A$20.0 billion following the upwardly revised A$14.9 billion in the previous three months (originally a deficit of A$20.8 billion).

New exports of GDP for the quarter was -0.2 percent - shy of expectations for a flat reading following the 1.1 percent increase in the three months prior.

The balance on goods and services was a surplus of A$10.797 billion, a decrease of A$999 million (8 percent) on the Q1 surplus of A$11.796 billion.

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Fxwirepro: Usd/jpy Recovery Not Convincing, Holds Above 20-Dma Support, But Bias Still Lower

USD/JPY managed to erase losses from lows of 101.20, but upside seems to be loosing traction.

Likelihood of another BoJ disappointment at the Sept 21 meet is rising, putting upside risk to the near-term path for JPY.

Technicals still paint a bearish picture, indicators point south. The major is managing to hold above 20-DMA support currently at 101.52, but momentum signals have turned, and the RSI is now below 50.
USDJPY is attempting a clear break below the 20-DMA, which then see scope for test of 98.90 (trendline).

Major support levels - 101.52 (20-DMA), 101, 100.75 (Aug 3 low), 101.41 (23.6% Fib), 99.54 (Aug 16 low)

Major resistance levels - 102, 102.12 (Sept 7 high), 102.58 (38.2% Fib), 102.62 (50-DMA) ​

Recommendation: Good to short decisive break below 20-DMA, target: 101/ 100.75/ 99.55/ 99

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Wall Street Slightly Changed as Investors Assess U.S. Interest Rate Outlook

U.S. stocks closed slightly changed, however the Nasdaq extended gains, while investors continue to assess the outlook of U.S. interest rates. The Fed has stated in its Beige Book report of anecdotal information that the economy of the U.S. has expanded at a subdued rate during July and August.

The Dow Jones Industrial Average decreased by 0.06 percent, the S&P 500 decreased by 0.02 percent while the Nasdaq Composite gained by 0.15 percent, a record high close. Unsatisfactory predictions from Sprouts Farmers Markets pulled down grocers. Shares of Sprouts dropped by 13.7 percent at $19.68, shares of Whole Foods edged down by 5.3 percent to $29.08 while shares of Kroger fell by 4.1 percent to $31.32. Apple shares increased by 0.6 percent at $108.36. Chipotle Mexican Grill has increased by 5.9 percent.

U.S. airline stocks rose following Delta Air's report that sales trends have improved and Southwest has stated it would slow its rapid growth of flights in 2017. Stocks of Delta increased by 5.6 percent and Southwest rose by 4.7 percent.


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Australia Home Loans Slide 4.2% In July

The total number of home loans in Australia was down a seasonally adjusted 4.2 percent on month in July, the Australian Bureau of Statistics said on Friday - standing at 55,010.

That missed forecasts for a decline of 1.5 percent following the 1.2 percent increase in June.

Investment lending added 0.5 percent to A$11.842 billion, slowing from 3.2 percent in the previous month.

The value of loans slipped 3.1 percent to A$19.946 billion after rising 1.8 percent a month earlier.

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