Forex News from InstaForex

Strong Quarterly Results, Upbeat 2017 Forecast Boost Boeing Shares

Boeing Co. reported positive quarterly profit and operating cash and issued an optimistic outlook for the performance of the company in 2017 as it benefits from its aggressive cost-cutting measures, increasing productivity and President Donald Trump's pro-growth stance.

The company's stock surged almost 5% to $168.50 on Wednesday after the firm reported it is projecting to generate a record $10.75 billion in operating cash this 2017.

The total is higher compared to the record $10.5 billion in 2016 and is significantly higher than the $10.4 billion that analysts had projected for the current year.

Boeing projected core earnings of $9.10 to $9.30 per share this year, up from the $7.24 in 2016. It expects to deliver around 760-764 commercial carriers in 2017 and surpass its 748 deliveries in 2016.

After experiencing a slowdown in orders for new jetliners, Boeing has concentrated on streamlining plants to reduce costs and increase profits. The company also took advantage of the lower cost of parts for its 787 jet as the plane hit crucial production milestones, as it delivered its 500th 787 jet in December.

CEO Dennis Muilenburg said an increase in cost-savings and productivity was behind the company's strong performance and revenue guidance. He assured that the progress will not slow down in these aspects.

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Australia Q4 Producer Prices Climb 0.5%

Final demand producer prices in Australia advanced 0.5 percent on quarter in the fourth quarter of 2016, the Australian Bureau of Statistics said on Friday.

That was in line with expectations and up from 0.3 percent in the third quarter.

On a yearly basis, final demand producer prices added 0.7 percent. That also matched expectations and was up from 0.5 percent in the three months prior.

Domestic prices were up 0.7 percent on quarter and 1.2 percent on year, while import prices fell 0.6 percent on quarter and 3.6 percent on year.

The gains were mainly due to rises in the prices received for building construction (+0.7 percent), petroleum refining and petroleum fuel manufacturing (+12.5 percent) and accommodation (+5.3 percent).

They were offset by falls in the prices received for electronic equipment manufacturing (-1.5 percent), professional and scientific equipment manufacturing (-2.1 percent) and other machinery and equipment manufacturing (-1.8 percent).

Intermediate demand producer prices were up 0.6 percent on quarter and 1.0 percent on year in Q4.

The gains were mainly due to rises in the prices received for petroleum refining and petroleum fuel manufacturing (+10.2 percent), coal mining (+53.3 percent) and 0il and gas extraction (+7.1 percent).

They were offset by falls in the prices received for basic polymer manufacturing (-6.1 percent), professional and scientific equipment manufacturing (-3.5 percent) and rental and hiring services (-0.7 percent).

Preliminary demand producer prices picked up 0.6 percent on quarter and 0.9 percent on year in the fourth quarter.

The gains were mainly due to rises in the prices received for petroleum refining and petroleum fuel manufacturing (+11.0 percent), coal mining (+53.4 percent) and oil and gas extraction (+6.7 percent).

They were offset by falls in the prices received for pharmaceutical and medicinal product manufacturing (-13.6 percent), professional and scientific equipment manufacturing (-5.9 percent) and basic polymer manufacturing (-6.0 percent).

Also on Friday, the bureau said that export prices in Australia surged 12.4 percent on quarter in the fourth quarter of 2016. That exceeded forecasts for 12.1 percent and was up sharply from 3.5 percent in the third quarter.

Import prices added 0.2 percent on quarter - beneath forecasts for 0.4 percent following the 1.0 percent contraction in the three months prior.

On a yearly basis, export prices jumped 12.4 percent, while import prices sank 4.6 percent.

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Dollar Climbs as Focus on U.S. GDP

The dollar inched up and rebounded from a seven-week low on optimism regarding the U.S. economic outlook and corporate earnings, however the protectionist policies of U.S. President Donald Trump raised unease for global trade. The dollar index was last at 100.47. The index made a rebound overnight, after slipping to a seven-week low of 99.793.

U.S. equities and Treasury yields have increased in the past few weeks, driven by the upbeat U.S. economic outlook and Trump's indications of raised public spending, but concerns on potentially new barriers have added pressure to the dollar in the last two weeks. The U.S. currency is on course to weaken 0.2 percent against the basket of currencies of its trade-weighted rivals for the week. Investors are concerned about Trump's plans to build a U.S-Mexican border wall to prevent illegal immigration. The Mexican peso weakened more than 0.5 percent versus the dollar after reports of the border tax.

The dollar last fell 0.1 percent against the Japanese currency to 114.40 yen. The greenback rebounded overnight from a low of 113.045 to 114.860, climbing 1.1 percent. The euro was last at $1.0681 versus the dollar, after falling from the day's peak of $1.0766, a level near a seven-week peak.

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Fxwirepro: Usd/thb Rejects Key Resistance at 35.33, Good to Sell on Rallies

USD/THB is currently trading around 35.25 marks.
It made intraday high at 35.32 and low at 35.25 marks.
Intraday bias remains bearish till the time pair holds key resistance at 35.33 marks.
On the top side key resistances are seen at 35.33, 35.41, 35.67, 35.74, 35.84, 35.93, 36.01, 36.08, 36.39 and 36.66 marks respectively.
Alternatively, a daily close below 35.29 will drag the parity down towards key supports around 35.18, 35.04, 34.83, 34.64, 34.51 and 34.20 marks respectively.
We prefer to take short position in USD/THB around 35.28, stop loss 35.41 and target of 35.04.

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Dollar Edges Down on Flat U.S. Growth Data

The dollar edged down on Monday, retreating from a one-week peak against a basket of currencies as Treasury yields fell on data which showed that the U.S. expanded at a slower-than-expected pace. The greenback fell 0.35 percent at 114.660 against the Japanese yen after climbing to 115.380, its highest since Jan 20.

The latest data released showed that U.S. gross domestic product expanded at a 1.9 percent annualised pace in the last three months of 2016, in comparison to a 3.5 percent rate in the third quarter. The dollar index against a basket of major currencies declined to a seven-week low of 99.793 before climbing to a one-week peak of 100.820 a day after. The index was last 0.2 percent off at 100.350. Focus on the market is between U.S. President Donald Trump's protectionist angle, perceived as negative for the dollar, and prospects of fiscal stimulus under the new administration, seen as positive for the greenback.

The euro strengthened and was last 0.3 percent higher at $1.0733. The pound rose 0.3 percent at $1.2593 versus a relatively weaker dollar while the Australian dollar climbed 0.1 percent at $0.7555.

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Fitbit Shares Sink Following Unsatisfactory Quarterly Results

Shares of Fitbit tumbled by as much as 18% after it announced trimming its workforce and it reported lower-than-anticipated financial results during the fourth quarter.

The stock managed to reverse some of its losses, but still closed the session almost 16% down.

In a release issued on Monday, the wearable fitness device maker said its layoffs will impact 110 people within its workforce across different divisions which makes up around 6% of the company's total global labor force. The expenses of the reorganization are anticipated to cost around $4 million, which will be included during the first quarter of 2017.

The firm added that it projects to post 6.5 million sales of devices and revenue during the Q4 of 2016 to be within the range of $572 million- $580 million, a steep drop from the company's initially issued guidance range of $725 million-$750 million.

Revenue growth for the previous business year is seen to be around 17% from the prior projected expansion of 25% to 26%.

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China Manufacturing PMI Slips To 51.3 In January

The manufacturing sector in China continued to expand in January, albeit at a slightly slower pace, the National Bureau of Statistics said on Wednesday with a manufacturing PMI score of 51.3.

That exceeded expectations for 51.2, although it was down from 51.4 in December.

The bureau also said that its non-manufacturing PMI came in at 54.6 in January, in line with forecasts and up from 54.5 in the previous month.

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Gold Notches Week High on Trump Comments

Gold prices advanced to a one-week peak as rattled investors purchased bullion after U.S. President Donald Trump's comments on currency devaluation by other countries caused the dollar to decline. Spot gold was up 1.4 percent to $1,211.15 per ounce after hitting its highest level since Jan. 24 at $1,215.37.

U.S. gold futures were 1.3 percent higher at $1,208.60. The dollar plunged as stocks sealed their largest loss in six weeks as Trump added uncertainty to the market after bans on travel to the United States. The weaker dollar helped raise bullion, while traders focused on the two-day Federal Reserve meeting that kicked off during the session. Funds have been reduced out of the $30 billion SPDR Gold ETF for 10 out of the 11 weeks since the Nov. 8 elections, which includes a one percent loss in the week ended on Jan. 25, according to data from Lipper.

In other metals, spot silver rose 2.6 percent at $17.55 per ounce after tapping its highest since Nov. 11 at $17.61. Platinum climbed 0.8 percent to $993.40, and is set for its highest monthly performance since July, and palladium gained 1.9 percent at $754.20.

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Australia December Trade Surplus A$3.511 Billion

Australia had a merchandise trade surplus of A$3.511 billion in December, the Australian Bureau of Statistics said on Thursday.

That exceeded forecasts for A$2.00 billion and was up from the upwardly revised A$2.040 billion surplus in November (originally A$1.234 billion).

Exports were up 5.0 percent on month to A$32.630 billion, while imports added 1/0 percent to A$29.120 billion.

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Facebook Shares Jump on Strong Fourth Quarter Results

Facebook Inc. posted solid financial results during the fourth quarter. Earnings and revenue surpassed expectations, driven by strong growth in its mobile advertising business as companies continue their push to reach consumers on mobile phones.

The company showed no indications of slowdown in growth, as quarterly profit came in at $3.57 billion, more than twofold of the $1.56 billion it posted a year ago. The social media firm also reported sales rose 51% to $8.81 billion, surpassing analyst estimates.

Monthly active users on Facebook also rose 17% on-year to 1.86 billion, with 1.23 billion checking their accounts daily and 1.74 billion users accessing it through their mobile phones.

Facebook has now solidified its position as the number 2 in the mobile advertising market, following Alphabet Inc.'s Google.

In November, the company cautioned that ad growth would slow significantly due to ad load limits . But the results showed little indication of this flagged slump as revenue jumped to $8.81 billion from $5.84 billion a year prior.

Adjusted profit is at $1.41 per share, higher than the estimated $1.31 average by analysts. Facebook shares jumped as much as 3.6% in late hours trading after the report and settled at $133.23 in NY trading

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New Zealand Commodity Prices Fall In January

New Zealand's commodity prices decreased for the first time in nine months in January, though slightly, the results of a survey by ANZ showed Friday.

The ANZ commodity price index edged down 0.1 percent month-over-month in January, reversing a 0.7 percent increase in December.

Dairy prices dropped 0.4 percent over the month, due entirely to weaker whole milk powder.

Across all products, the largest fall was again in wool prices, which declined 8.6 percent in January from a month ago.

At the same time, beef and lamb prices climbed by 1.9 percent and 1.6 percent, respectively at the start of the year. Seafood prices registered an increase of 0.9 percent.

The NZD ANZ commodity price index slid 1.1 percent from December, when it grew by 2.0 percent.

On an annual basis, the NZD ANZ commodity price index rose 8.6 percent in January, following a 9.4 percent spike in the preceding month.

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Technical analysis of EUR/USD for Feb 03, 2017

When the European market opens, some Economic Data will be released, such as Retail Sales m/m, Italian Prelim CPI m/m, Final Services PMI, German Final Services PMI, French Final Services PMI, Italian Services PMI, and Spanish Services PMI. The US will release the economic data, too, such as Factory Orders m/m, ISM Non-Manufacturing PMI, Final Services PMI, Unemployment Rate, Non-Farm Employment Change, and Average Hourly Earnings m/m, so, amid the reports, EUR/USD will move in a medium to high volatility during this day.

TODAY'S TECHNICAL LEVEL:
Breakout BUY Level: 1.0813.
Strong Resistance:1.0806.
Original Resistance: 1.0796.
Inner Sell Area: 1.0786.
Target Inner Area: 1.0761.
Inner Buy Area: 1.0736.
Original Support: 1.0726.
Strong Support: 1.0716.
Breakout SELL Level: 1.0709.

More analysis - at instaforex.com

Australia Retail Sales Dip 0.1% In December

The total value of retail sales in Australia was down a seasonally adjusted 0.1 percent on month in December, the Australian Bureau of Statistics said on Monday - coming in at A$25.611 billion.

That missed forecasts for an increase of 0.3 percent following the downwardly revised 0.1 percent gain in November (originally 0.2 percent).

For the fourth quarter of 2016, retail sales advanced 0.9 percent on quarter to A$74.985 billion.

That was in line with expectations following the 0.1 percent contraction in the three months prior.

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Yahoo Japan Surges as Profit Gets Boost from Ads, E-Commerce

Yahoo Japan Corp. posted its biggest increase since 2013 after quarterly earnings easily topped estimates as profit was bolstered by the strong performance in advertising and online shopping from mobile phones.

The company's shares jumped as high as 17% intraday in Tokyo trading, hitting their daily upward limit. As of 10:35 a.m., the stocks were trading 15% up, adding around $3.4 billion in market value.

Operating income during the December quarter came in at 51.8 billion yen or $460 million, against the estimated 49.5 billion yen. Sales hit 221.4 billion yen, easily topping the 219.5 billion yen.

The strong financial results come amid the company's continued expansion into the mobile platform, which represented for over half of the total advertising revenue for the first time in the company's history. Online shopping via its auction service platform also strengthened its performance, thanks to strict cost management and higher spending by users. Its financial services business also posted a stronger than anticipated performance.

Analysts, who initially had doubts regarding its future performance have changed their view on its potential and sees sustainable growth for the company. Analyst at Cantor Fitzgerald Naoshi Nema upgraded the price target from 400 yen to 660 yen per share.

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Fxwirepro: Aussie falls Against Major Peers in Early Hours of Asia ahead of Rba’s Cash Rate Decision

AUD/NZD is currently trading around 1.0442 marks.

Pair made intraday high at 1.0465 and low at 1.0439 marks.

Intraday bias remains slightly bearish till the time pair holds immediate resistance at 1.0507 marks.

A consistent close below 1.0458 will take the parity down towards key supports around 1.0412, 1.0370, 1.0326, 1.0237, 1.0184, 1.0109 and 1.0053 marks respectively.

On the other side, a sustained close above 1.0458 will drag the parity higher towards key resistances at 1.0507/1.0587/1.0618/1.0655/1.0751/1.0823/1.0976 (January 2016 high) /1.1062 (30D EMA) levels respectively.

Australia’s January AIG construction index increases to 47.7 vs previous 47.0.

RBA will release cash rate decision and monetary policy statements at 0330 GMT.

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Euro Weakens on Political Concerns, as Dollar Falls Against Yen

The euro dropped to a one-week low versus the U.S. dollar on uncertainty regarding French politics prior to the presidential vote along with other upcoming elections in Europe. Investors eyed French politics, with far-right National Front leader Marine Le Pen launching her presidential bid, pledging to combat globalisation and withdraw France out of the eurozone.

In late trading, the euro weakened by 0.4 percent versus the US dollar to $1.0742. It fell to $1.0705, its weakest level since Jan. 31. The greenback fell to two-month lows versus the Japanese yen amid a decline in U.S. Treasury yields. The spread between U.S. two-year and Japanese two-year debt yields shrank to nearly 136 basis points, the narrowest in two months. The greenback last fell 0.7 percent at 111.81 yen, and had previously weakened to 111.63, its lowest since late November.

According to analysts, strong equity markets and upbeat U.S. economic data have supported the previous year's bullish U.S. dollar demands. However, the lack of clarity on expected pro-dollar-tax-and-spending-initiatives by the administration of U.S. President Donald Trump as well as concerns on the outlook of the dollar and global trade have weighed on the currency.

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Intraday technical levels and trading recommendations for EUR/USD for February 7, 2017

In January 2015, the EUR/USD pair moved below the major demand levels near 1.2100 where historical bottoms were previously set in July 2012 and June 2010.
Hence, a long-term bearish target was projected toward 0.9450. In March 2015, EUR/USD bears challenged the monthly demand level around 1.0570, which had been previously reached in August 1997.
Later in April 2015, a strong bullish recovery was observed around the mentioned demand level.
However, next monthly candlesticks (September, October, and November) reflected a strong bearish rejection around the area of 1.1400-1.1500.
In the longer term, the level of 0.9450 remains a projected target if the current monthly candlestick achieves bearish closure below the depicted monthly demand level of 1.0570.
Otherwise, the EUR/USD pair remains trapped within the depicted consolidation range (1.0570-1.1400).

The long-term outlook for the EUR/USD pair remains bearish as the monthly chart illustrates. Bearish persistence below 1.0575 is needed to pursue this bearish scenario.
On November 14, bearish persistence below 1.0825 (Key-Level 2) allowed further decline toward 1.0570 (demand level) where evident bullish rejection was expressed on November 24.
Shortly after, the Fibonacci Level 50% (1.0825) constituted a recent supply level which offered a valid SELL entry on December 8.
Bearish persistence below the depicted demand level (1.0570) was expected to allow further decline toward 1.0220. However, significant bullish recovery was expressed around the price level of 1.0340 on January 3.
Bullish persistence above 1.0600 allowed further bullish advance toward 1.0825-1.0850 (Fibonacci Level 50%) where bearish rejection and a valid SELL entry were anticipated.
Bullish breakout above 1.0570-1.0600 was executed on January 12.
That is why, the price level of 1.0570 at the moment constitutes a recent demand level to be watched for the bullish rejection if any bearish pullback occurs.


More analysis - at instaforex.com

Fxwirepro: South Korean Won Erases Previous Gain Against Euro, Faces Strong Resistance at 1,227

EUR/KRW is currently trading around 1,223 mark.

Pair made intraday high at 1,224 and low at 1,218 levels.

Intraday bias remains slightly bullish till the time pair holds immediate support at 1,217 mark.

A consistent close below 1,218 will drag the parity down towards key supports around 1,210, 1,203, 1,199 and 1,163 marks respectively.

Alternatively, a sustained close above 1,218 will take the parity higher towards key resistances around 1,227, 1,233, 1,242, 1,252, 1,268, 1,272, 1,280, 1,287 and 1,304 marks respectively.

Seoul shares open down 0.13 pct at 2072.58.

We prefer to take long position in EUR/KRW only above 1,227, stop loss at 1,218 and target of 1,235/1,242.

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Disney Posts Strong Quarterly Profit, Unexpected Revenue Drop

Disney posted first-quarter profits that topped estimates, but revenue fell short of expectations.

In its quarterly earnings report, the company reported first-quarter earnings of $1.55 per share on a revenue of $14.78 billion. The figures denote a 3% annual decline in revenue and a 10% decline in per-share profit. Analysts anticipated the company to report earnings per share of $1.49 per share on a revenue of $15.26 billion. Profit was boosted by a 13% jump from Disney's theme parks across the globe.

Revenue in majority of its business segments also missed estimates, according to Disney. Disney's consumer products and interactive media segment cashed in around $1.48 billion revenue, missing estimates of $1.75 billion, as the segment faced toughed comparison to the success of franchises in the year-prior period.

Revenue for the firm's media networks business clocked in at $6.23 billion, under the estimated $6.42 billion. Operating income in the segment also fell 4% year-on-year. The lower-than anticipated revenue for October to December was weighed down by the decline in advertising revenue at ESPN and due to the movie business' performance compared to its record success a year earlier.

The stock was initially down 2% in extended trading, but reversed losses and was last trading 1.4% lower.

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Dollar Weakens as U.S. Treasury Yields Decline

The dollar weakened after two days of gains, weighed down by the decline in U.S. Treasury yields amid market uncertainty regarding President Donald Trump's economic policies. U.S. benchmark 10-year Treasury note yields were down to a three-week low of 2.325 percent.

Trump is set to meet Japanese Prime Minister Shinzo Abe and the U.S. president is expected to reiterate his opposition to a firm dollar and a weak yen, which might further weigh on the greenback. The Japanese yen climbed, amid the unease surrounding global political risks in Europe, which eventually pulled down U.S. Treasury yields. The dollar index was down 0.2 percent to 100.27, as the US currency weakened by 0.3 percent to 112.05 yen. The euro edged higher versus the dollar from more than one-week lows. Its recent path has been tied to the developments regarding the French presidential elections.

The euro fell 0.3 percent versus the Japanese yen at 119.76 yen, and was higher by 0.1 percent against the dollar at $1.0687.

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Fxwirepro: Japanese Yen Marginally Lower Despite Higher Than expected Core Machinery Orders Data

USD/JPY is currently trading around 112.11 marks.

It made intraday high at 112.13 and low at 111.73 levels.

Intraday bias remains neutral for the moment.

A daily close above 111.93 will take the parity higher towards key resistances around 112.54, 113.48, 113.96, 114.95, 115.61, 117.21, 118.18, 118.66, 119.52 and 120.46 levels respectively.

On the other side, a sustained close below 111.93 will drag the parity down towards key supports around 111.35, 110.85, 109.72, 106.72, 106.03 and 104.96 levels respectively.

Japan’s December machinery orders m/m increases to 6.7 % (forecast 3.1 %) vs previous -5.1 %.

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Japan GDP Adds 0.2% On Quarter In Q4

Gross domestic product in Japan gained 0.2 percent on quarter in the fourth quarter of 2016, the Cabinet Office said on Monday.

That missed expectations for an increase of 0.3 percent, which would have been unchanged from the previous three months.

On a yearly basis, GDP gained 1.0 percent - also missing forecasts for 1.1 percent and down from 1.4 percent in the third quarter.

Nominal GDP was up 0.3 percent on quarter, shy of expectations for 0.5 percent and up from 0.2 percent in the three months prior.

The GDP deflator eased 0.1 percent on year - unchanged from the third quarter but beating estimates for a decline of 0.2 percent.

Private consumption was flat on quarter, matching forecasts and down from 0.3 percent in Q3. Business spending was up 0.9 percent on quarter, missing forecasts for 12 percent following the 0.3 percent decline in the previous three months.

Net exports, or shipments minus imports, added 0.2 percentage points to GDP.

The Japanese economy has expanded in four straight quarters, the first such streak in more than three years.

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Japan GDP Adds 0.2% On Quarter In Q4

Gross domestic product in Japan gained 0.2 percent on quarter in the fourth quarter of 2016, the Cabinet Office said on Monday.

That missed expectations for an increase of 0.3 percent, which would have been unchanged from the previous three months.

On a yearly basis, GDP gained 1.0 percent - also missing forecasts for 1.1 percent and down from 1.4 percent in the third quarter.

Nominal GDP was up 0.3 percent on quarter, shy of expectations for 0.5 percent and up from 0.2 percent in the three months prior.

The GDP deflator eased 0.1 percent on year - unchanged from the third quarter but beating estimates for a decline of 0.2 percent.

Private consumption was flat on quarter, matching forecasts and down from 0.3 percent in Q3. Business spending was up 0.9 percent on quarter, missing forecasts for 12 percent following the 0.3 percent decline in the previous three months.

Net exports, or shipments minus imports, added 0.2 percentage points to GDP.

The Japanese economy has expanded in four straight quarters, the first such streak in more than three years.

News are provided by InstaForex

Greek finance chief chides IMF for delaying bailout deal

Greece's finance head lambasted the International Monetary Fund for wasting its time on internal disaccords, saying it defers a decision on their third rescue agreement.

Greek Finance Minister Euclid Tsakalotos urged the global institution to decide on its participation in the country's €86 billion ($91 billion) bailout package as he reiterated the latter's demands were anchored on wrong figures.

IMF Managing Director Christine Lagarde previously warned Greece won't secure a special sweet accord as she implied the international organization won't withdraw its demands for reforming pension and tax policies.

She said the IMF needs to apply the principles which they apply to all nations since they lend money to the international community. It is determined to avoid repeating events which led to the country's first and second rescue deals.

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Fxwirepro: Usd/sgd Consolidates Around 1.42 Mark, Bias Remains Neutral

USD/SGD is currently trading around 1.4219 marks.

It made intraday high at 1.4232 and low at 1.4191 levels.

Intraday bias remains neutral till the time pair holds key resistance at 1.4250 marks.

A daily close above 1.4250 will test key resistances at 1.4297, 1.4409, 1.4506, 1.4568, 1.4686 and 1.4851 levels respectively.

Alternatively, a consistent close below 1.4200 will drag the parity down towards key supports at 1.4136/1.4083/1.3972/1.3819/1.3775/1.3704/1.3646 levels respectively.

Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside 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.

News are provided by InstaForex

Australia January Unemployment Rate Dips To 5.7%

The jobless rate in Australia came in at a seasonally adjusted 5.7 percent in January, the Australian Bureau of Statistics said on Thursday.

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

The Australian economy added 13,500 jobs in January to 11,998,200, beating forecasts for 10,000 after collecting 13,500 jobs in the previous month.

Full-time employment decreased 44,800 to 8,125,700 and part-time employment increased 58,300 to 3,872,500.

"We are still seeing strong growth in part-time employment in January 2017, and in recent months, increasing growth in full-time employment," said the General Manager of ABS' Macroeconomic Statistics Division, Bruce Hockman.

The participation rate slipped to 64.6 percent, shy of expectations for 64.7 percent, which would have been unchanged.

Unemployment decreased 19,300 to 720,200. The number of unemployed persons looking for full-time work decreased 16,000 to 511,000 and the number of unemployed persons only looking for part-time work decreased 3,300 to 209,200.

Monthly hours worked in all jobs increased 10.2 million hours to 1,682.7 million hours.

News are provided by InstaForex

Yahoo and Verizon Nears Closing Revised Acquisition Agreement

Verizon Communications Inc. is on the verge of brokering a revised agreement to takeover Yahoo's core internet segment, sources said.

The deal will be valued $250-$250 million less than the initially agreed price of $4.38 billion, according to people privy to the matter, as the internet group reportedly agreed to a price cut.

The deal was put cast under doubt last year after the internet company disclosed two massive cyber attacks which compromised the information and data of millions of its users. Verizon is looking to combine Yahoo's internet assets and ad tech tools with its AOL unit.

Since last year Verizon has been trying convince Yahoo to revise the sale terms agreement in order to mirror the economic damage from the cyber attacks. A source stated that the deal, which could be closed as early as this week, will the two parties sharing liability from possible lawsuits linked to the data breaches.

Reports of the renegotiated terms of the deal was first seen on Bloomberg. A source said the price cut was likely to be close to $250 million.

Shares of Yahoo advanced 1.5% to $44.69 in afternoon trading while Verizon shares edged down 0.7% $47.93.

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OPEC could prolong output curb pact if glut remains: sources

OPEC could apply deeper cuts or prolong the production limit pact it struck with non-members should global oil inventories fail to hit its output goal, people familiar with the group disclosed.

Sources said participating nations must fully adhere with the deal and the expansion in crude demand will need to remain strong in order for global crude stockpile to decline by around 300 million barrels to the five-year average.

They added inventories will drop if everybody will adhere to the accord 100%. By around mid-year, sources noted it will reach close to the five-year median.

The oil cartel will gather on May 25 to determine on supply rules. Non-members are invited to participate in the meeting as well.

Last month, OPEC and non-OPEC members fulfilled 93% adherence with the committed cuts, with Saudi Arabia, the institution's de facto chief, contributing the largest portion.

News are provided by InstaForex

Fxwirepro: Kiwi falls Against Major Peers As New Zealand’s Retail Sales, Core Retail Sales Data Fail to Meet Expectations

AUD/NZD is currently trading around 1.0670 marks.

Pair made intraday high at 1.0675 and low at 1.0655 marks.

Intraday bias remains bullish till the time pair holds immediate support at 1.0634 marks.

A daily close below 1.0662 will take the parity down towards key supports around 1.0594, 1.0552, 1.0516, 1.0460, 1.0412, 1.0370, 1.0326, 1.0237, 1.0184, 1.0109 and 1.0053 marks respectively.

On the other side, a sustained close above 1.0662 will drag the parity higher towards key resistances at 1.0735/1.0754/1.0823/1.0976 (January 2016 high) /1.1062 (30D EMA) levels respectively.

New Zealand’s Q4 s/adj real retail sales +0.8 pct q/q.

New Zealand’s Q4 s/adj actual retail sales +4.2 pct y/y.

New Zealand’s January month s/adj PMI 51.6.

News are provided by InstaForex

UK House Prices Rise 2.0% In February

The average asking price for a house in the United Kingdom was up 2.0 percent on month in February, the latest survey from property tracking website Rightmove showed on Monday.

That was roughly in line with estimates, and up from 0.4 percent in January.

On a yearly basis, house prices were up 2.3 percent - shy of forecasts for 2.8 percent and down from 3.2 percent in the previous month.

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CNPC Purchases Stake in $22 Billion Oil Venture from Abu Dhabi

China National Petroleum Corp. purchased a stake in Abu Dhabi's biggest oil concession as the emirate, which holds six percent of global crude reserves, resorts to Asia for investment in order to increase output capacity. Abu Dhabi National Oil Co. granted CNPC an eight percent stake in its onshore venture in exchange for a $1.8 billion signing bonus, according to Adnoc.

CNPC will join the Abu Dhabi firm for the Onshore Petroleum Operations, or ADCO. Other companies like BP and Total respectively hold ten percent stakes in the venture, while South Korea's Energy Corp. owns three percent and Inpex Corp. of Japan holds five percent. Abu Dhabi is planning to keep a 60 percent stake in ADCO and is looking for an investor for the remaining four percent, according to a statement from Adnoc.

Abu Dhabi intends to raise production capacity to 3.5 million barrels per day by 2018. ADCO produces nearly half of Abu Dhabi's approximately three million barrels of daily crude output.

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Toshiba Eyes $8.8 Billion in Chip Unit Stake Deal

Toshiba Corp. is seeking to gain a minimum of 1 trillion yen or $8.8 billion from the sale of a majority share in its memory chip business and will attempt to finish the deal by March 2018, according to sources.

The sale comes as the Japanese conglomerate issued a warning of a $6.3 billion writedown that will hit its U.S. nuclear business earlier this month. As it looks for a buffer against any fresh financial setbacks, Toshiba states it is now ready to put up for sale a majority stake or even all of the NAND memory unit.

The deal is seen to result in Toshiba ceding is majority hold over the unit which could have a market valuation as high as 2 trillion yen. Sources said the company wants to carefully consider its options and negotiate the best price before mapping a final timetable, although it is aiming to reach a deal before the end of the next financial year.

The company has not yet finalized the size of the stake to be put up for sale and is centering its focus on the total amount that can be raised. The person privy to the matter added that Toshiba would like to maintaining a one-third holding that would allow it a certain position of control over the business.

Toshiba's shares were up 2% in morning trade.

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Fxwirepro: Eur/krw Hovers Around Key Support at 1,200 Mark, sustained Close Below Targets 1,184

EUR/KRW is currently trading around 1,201 mark.

Pair made intraday high at 1,202 and low at 1,199 levels.

Intraday bias remains neutral till the time pair holds key support at 1,200 mark.

A daily close below 1,200 will drag the parity down towards key supports around 1,184, 1,178 and 1,163 marks respectively.

Alternatively, a sustained close above 1,200 will take the parity higher towards key resistances around 1,209, 1,221, 1,233, 1,242, 1,252, 1,268, 1,272, 1,280, 1,287 and 1,304 marks respectively.

Seoul shares open up 0.17 pct at 2106.42.

We prefer to take short position in EUR/KRW only below 1,200, stop loss at 1,210 and target of 1,190/1,184.

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Dollar Recovers After Initial Fed Minutes Jolt

The dollar rebounded from overnight lows and steadied, as the market digested the minutes of the Federal Reserve's last policy meeting, which held the possibility of a March rate hike in play. The minutes of the Fed's Jan. 31-Feb. 1 meeting noted several policy makers saying that it was appropriate to hike interest rates again “fairly soon”, given that the jobs and inflation data come in line with expectations.

Dollar bulls were disappointed as they were hoping for a more hawkish tone from Fed Chair Janet Yellen. The greenback also weakened as policymakers brought up the downside economic consequences of a firmer dollar. The dollar index versus a basket of six major currencies climbed from overnight losses and was 0.15 percent higher at 101.380. The greenback dropped to a low of 112.905 yen overnight in an automatic response to the Fed minutes meeting but eventually pulled back to 113,420 for a gain of 0.1 percent.

The euro edged down 0.1 percent at $1.0548, as it retreated from a 1-½ month low of $1.094 the previous day. Sterling was flat at $1.2450 after slipping the day earlier as latest data showed that the UK business investment declined during the fourth quarter of 2016.

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Singapore Industrial Production On Tap For Friday

Singapore will on Friday release January figures for industrial production, highlighting a light day for Asia-Pacific economic activity.

Output is expected to gain 2.8 percent on month and 7.5 percent on year after spiking 6.4 percent on month and 21.3 percent on year in December.

Taiwan will see January figures for unemployment, with the jobless rate expected to ease to 3.8 percent from 3.82 percent in December.

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Trump Uncertainty Drives Bitcoin to Historic High

Bitcoin scaled a historic high as investors' risk aversion and impetus to hedge was triggered by the global uncertainty linked to President Donald Trump's policies and due to speculations that the new administration will ease regulations that governing the cryptocurrency.

The digital currency surged 3.1 percent and ended at $1,164.10 in New York trading, beating the record high of $1,137 notched in November 2013.

Prices of the e-currency has been volatile in the previous weeks. It nosedived as low as $789 earlier on January as Chinese regulators imposed stricter management and regulation of the domestic bitcoin exchanges, where global majority of bitcoin trading occurs. It has now remained above the $1,000 level for its longest-ever period, CoinDesk stated.

The latest rally was prompted by the political uncertainty stemming from President Trump's remarks and directives, analysts said. They added that the surge may be due to some investors driving digital currency prices up on hopes that the administration will loosen financial-industry rules and in turn make bitcoin more flexible to utilize.

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Australia Q4 Company Operating Profits Soar 20.1%

Company operating profits in Australia climbed a seasonally adjusted 20.1 percent on quarter in the fourth quarter of 2016, the Australian Bureau of Statistics said on Monday.

That easily beat forecasts for an increase of 8.0 percent following the 1.0 percent gain in the previous three months.

Profits spiked 26.2 percent on year.

Company inventories gained just 0.3 percent on quarter in Q4, shy of expectations for 0.5 percent and down from 0.8 percent in the three months prior.

Inventories were up 1.6 percent on year.

Sales of manufacturing goods and services added 0.1 percent on quarter but fell 2.4 percent on year.

Sales in wholesale trade gained 3.1 percent on quarter and 9.0 percent on year.

Wages and salaries dipped 0.5 percent on quarter but climbed 1.0 percent on year.

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Samsung Hints at Release of Galaxy S8 Release

Samsung Electronics Co. has hinted on the upcoming release of its Galaxy S8 smartphone and launched new tablets that target video-gamers and professionals as the firm seeks to regain ground lost after its previous disadvantage of pulling out the Note 7. The defeat cost the Korean company an estimated $6 billion and caused a severe blow to the firm.

The Galaxy Tab S3 has a 9.7 inch Amoled screen, quad-stereo speakers and allows users to play 4K video, according to Samsung ahead of the annual Mobile World Congress event in Barcelona. The Galaxy Book, is directed towards professionals, comes in with 10.6-inch and 12-inch models and runs the Windows 10 operating system. Samsung has finally confirmed a March 29 release date for the next smartphone.

For the time being, Samsung will launch the new tablets as well as a new virtual-reality viewer which the company has showed. The tablet portfolio “is built with premium technology that delivers a productive and versatile experience to consumers,” according to D.J. Koh, the head of Samsung's mobile communications business.

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Fxwirepro: South Korean Won Marginally Higher Against Euro on Robust Manufacturing Bsi Index

EUR/KRW is currently trading around 1,197 mark.

Pair made intraday high at 1,199 and low at 1,197 levels.

Intraday bias remains bearish till the time pair holds key resistance at 1,205 mark.

A daily close below 1,198 will drag the parity down towards key supports around 1,191, 1,184, 1,178 and 1,163 marks respectively.

Alternatively, a sustained close above 1,198 will take the parity higher towards key resistances around 1,205, 1,221, 1,233, 1,242, 1,252, 1,268, 1,272, 1,280, 1,287 and 1,304 marks respectively.

Seoul shares open up 0.08 pct at 2087.26.

South Korea’s BOK manufacturing BSI index increases to 79 vs previous 78.

We prefer to take short position in EUR/KRW around 1,199, stop loss at 1,205 and target of 1,184.

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Dow Jones closes at 12th consecutive record high

US shares ended slightly higher while the Dow Jones ended at a 12th straight record close as traders are anticipating President Donald Trump's first speech to a joint session later on Tuesday.

Investors seek to search hints about the Trump government's policies for tax reform and easing regulations. He previously implied he wanted to beef up army spending by over 9%.

On Monday, the Dow Jones Industrial Average traded at 20,837.44, up 0.08%. The S&P 500 stood at 2,369.73, up 0.10%. The Nasdaq Composite closed at 5,886.90, up 0.28%.

The key stock indexes logged fresh record highs in the previous week but did not record advances as sturdy as the week before.

Trump's pledge of a breakthrough tax announcement helped revitalize the post-election surge, gliding the key US stocks to post new records.

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