Forex News from InstaForex

**InstaForex Gertrude** · 21-12-15, 06:52

Japan All Industry Activity Rises More Than Expected October

Japan's all industry activity increased at a faster-than-expected pace in October, after falling in the previous month, figures from the Ministry of Economy, Trade and Industry showed Monday. The all industry activity index rose 1.0 percent month-over-month in October, reversing a 0.2 percent drop in September. Economists had expected a 0.9 percent climb for the month. In August, the measure showed no variations. The index measuring industrial production gained 1.4 percent monthly in October. Similarly, the index measuring both construction and tertiary activity index grew by 0.9 percent during the month. On a yearly basis, the all industry activity index climbed 0.9 percent in October, faster than the 0.6 percent spike in the preceding month. It was the fifth consecutive monthly rise.

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**InstaForex Gertrude** · 22-12-15, 03:49

NZ Dollar Rises Against Majors

The New Zealand dollar strengthened against the other major currencies in the Asian session on Tuesday. The NZ dollar rose to a 5-day high of 0.6787 against the U.S. dollar and a 4-day high of 82.26 against the yen, from yesterday's closing quotes of 0.6759 and 81.88, respectively. Against the euro and the Australian dollar, the kiwi edged up to 1.6075 and 1.0607 from yesterday's closing quotes of 1.6127 and 1.0625, respectively. If the kiwi extends its uptrend, it is likely to find resistance around 0.68 against the greenback, 83.50 against the yen, 1.57 against the euro and 1.04 against the aussie.

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**InstaForex Gertrude** · 23-12-15, 03:51

Fitch: India, Se Asia Airlines to See improved Earnings Outlook

The earnings outlook for Indian and south-east Asian airline sectors should improve in 2016, driven by higher demand, lower fuel costs and ongoing industry restructuring, Fitch Ratings says. But the operating environment will be challenging due to strong competition and capacity expansion. Macroeconomic growth should help bolster demand and top-line growth for the region's airlines, and data so far in 2015 is already showing strong demand growth. Passenger load factors (PLF) in India and south-east Asia have risen steadily, with the average PLF across seven major airlines based in the region hitting multi-year highs above 80% in 3Q15. The continued decline in global oil prices will also provide a much-needed boost to airline earnings, with Brent crude falling further so far in 4Q15. Industry consolidation and restructuring should also result in improved profitability. Nonetheless, aggressive competition and capacity expansion remain key risks for the sector over the longer term. Capacity growth in south-east Asia and India has slowed in 2015 as airlines focused on profitability, but a huge order book for new aircraft remains, which could make it difficult to improve profitability for the sector. The full report 'Improved Earnings Outlook Likely for Indian and South-East Asian Airlines' is available to subscribers at www.fitchratings.com or by clicking on the link in this media release.

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**InstaForex Gertrude** · 04-01-16, 08:24

Estonia Retail Sales Growth Slows For Second Month

Estonia's retail sales growth eased for the second straight month in November, figures from Statistics Estonia showed Monday. The volume of retail sales excluding vehicles rose 6.0 percent year-over-year in November, slower than the 8.0 percent climb in the previous month. The latest rate of increase was the weakest since April this year, when it grew the same 6.0 percent. The annual sales growth in stores selling manufactured goods eased to 11.0 percent in November from 12.0 percent in October. Similarly, the retail sales growth in grocery stores moderated significantly to 1.0 percent in November from 4.0 percent in the preceding month. The retail sales of automotive fuel alone surged 8.0 percent in November from a year ago. On a monthly basis, retail sales fell 6.0 percent in November, reversing a 5.0 percent gain in the prior month. On a seasonally and working-day-adjusted basis, retail sales dropped 1.0 percent.

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**InstaForex Gertrude** · 05-01-16, 05:11

Chinese shares open lower as regulator seeks to reassure traders

Chinese stocks opened lower as the regulator sought to soothe investors following Monday's plunge ignited a trading halt in the country's equities, futures, and options. The CSI 300 dropped around 2.7% before alleviating declines. Meanwhile, the MSCI Asia-Pacific Index erased 0.3 to 128.46. Japan's Topix fell 0.4%. Futures on Hong Kong's Hang Seng Index wiped out 0.4%, while South Korea's Kospi rose 0.1%.

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**InstaForex Gertrude** · 07-01-16, 07:40

Malaysia Exports Rise In November

Malaysia's exports increased in November from a year ago, figures from the Department of Statistics showed Thursday. Exports grew 6.3 percent year-over-year in November to MYR 67.6 billion. Shipments of electrical and electronics products, which contributed 34.2 percent to total exports, rose 0.6 percent in November. Exports of refined petroleum products surged 13.2 percent. Imports climbed 9.1 percent annually in November. The increase in imports was mainly attributed to consumption goods, intermediate goods and capital goods. On a monthly basis, exports plunged 10.8 percent in November and imports declined by 9.8 percent The visible trade surplus of the country came in at MYR 10.2 billion in November, which was lower by 6.9 percent and 15.9 percent respectively for the both yearly basis as well as monthly basis.

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**InstaForex Gertrude** · 11-01-16, 05:16

China to face adversity in hitting 6.5% growth over 2016-2020

China will face great hardship in achieving economic growth above 6.5% between 2016 and 2020 due to sluggish global demand, escalating labor costs, and aggravating environmental concerns in the country. According to State Council's Development Research Centre President Li Wei, gross domestic product has recorded annual growth of approximately 10%. The 6.5% projection is not high, but it will be difficult to attain such pace of growth. China is scheduled to release fourth quarter and full-year GDP figures on January 19.

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**InstaForex Gertrude** · 11-01-16, 06:56

Fxwirepro: Aud/jpy Extends Recovery from Multi-Year Lows, Good to Buy Dips

Poor Chinese inflation data released over the weekend raised concerns over China's ability to boost the economic growth, denting risk appetite and boosting yen. AUD/JPY hit a multi-year low of 80.88, levels not seen since Oct 2012, but was rejected at lows. The pair later rebounded higher towards 82 handle, on the back of strong pullback seen in the USD/JPY pair. Broader market sentiment will continue to dominate markets amidst a data-light economic calendar today. Strong resistance is seen at 81.95 levels, breaks above could take the pair to next hurdle at 82.95 (5-DMA) and then to 83.90 (Jan 8th highs). To the downside immediate support might be located 80.88 (Session lows Jan 11) below that at 79.50 (Oct 2012 Level). Recommendation: Good to buy dips around 81.50, SL: 80.90, TP: 82.95/83.90

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**InstaForex Gertrude** · 12-01-16, 03:59

Singapore bond market sees default despite unrecognized notes

Singapore's bond market may default for the second time following lenders said Pacific Andes Resources Development Ltd. has not recognized some obligations on S$200 million ($139 million) of notes. In a January 10 filing, the Hong Kong-based company said it received a letter from HSBC Holdings Plc, alleging it breached on the 2017 securities. Investors, under the bond's terms, can request full immediate repayment in the event the firm's shares are suspended. Since November 25, Pacific Andes has halted trading in the country.

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**InstaForex Gertrude** · 12-01-16, 07:02

Fxwirepro: Usd/jpy Bounces Off Trendline Support, But Unable to Hold Gains Above the 118 Handle

USD/JPY bounce overnight from trendline support failed near 118 handle and the major dropped to new session lows towards the mid-point of 117 handle. Yen back in demand amid falling Japanese stocks, Asian stocks have been volatile triggering risk-off trades. Strong support for the pair lies at 116.65 (trendline) and further below at 116 levels, while on the upside resistance is seen at 118.02 (Jan 11 & session highs) ahead of 118.75 (Jan 7 highs). Price action is well below the cloud and moving averages biased lower. RSI and Stochs on dailies are deeply in oversold territories. The data calendar is rather empty today, nothing of note for the JPY in terms of macro news except for the BOJ Governor Kuroda's speech.

Recommendation: We will wait for further technical confirmation to initiate any trade

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**InstaForex Gertrude** · 13-01-16, 05:37

Disney to reveal Shanghai theme park on June 16

Walt Disney Co. announced the new Shanghai Disney Resort will be unveiled on June 16, the firm's biggest investment outside America. The $5.5 billion resort will showcase Disney's two hotels, tallest castle, and a pirates-themed land. The size of their first Chinese resort is 963 acres (389 hectares), three times bigger than the Hong Kong Disneyland. Chairman and Chief Executive Bob Iger has remained upbeat on the project, which has been planned for years, amid China's economic degeneration and stock market slump.

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**InstaForex Gertrude** · 14-01-16, 03:12

Australia Unemployment Rate Steady At 5.8% In December

The jobless rate in Australia was a seasonally adjusted 5.8 percent in December, the Australian Bureau of Statistics said on Thursday. That was unchanged from the November reading, and it beat forecasts for 5.9 percent. The Australian economy lost 1,000 jobs in December to 11,902,300 - which also topped forecasts for a decline of 10,000 jobs following the addition of 71,400 jobs in the previous month. Full-time employment saw an increase of 17,600 jobs in December to 8,228,700 following the spike of 41,600 a month earlier. Part-time employment was down 18,500 jobs to 3,673,600 following the 29,700 increase in November. Unemployment decreased 10,900 to 727,500. The number of unemployed persons looking for full-time work decreased 2,600 to 515,000 while the number of unemployed persons only looking for part-time work decreased 8,400 to 212,500. "The trend shows that around 312,000 more people were employed in December 2015 than in December 2014. Full-time employment growth was stronger than part-time over the year, increasing by 186,600 people," said Bruce Hockman, General Manager of ABS' Macroeconomic Statistics Division. The increase in employment has contributed to the trend employment to population ratio rising over the year from 60.6 percent to 61.4 percent, while the unemployment rate has decreased over the year from 6.2 percent to 5.8 percent. The participation rate was 65.1 percent - missing forecasts for 65.2 percent and down from 65.3 percent a month earlier. Monthly hours worked in all jobs increased 0.3 million hours to 1,645.2 million hours.

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**InstaForex Gertrude** · 15-01-16, 07:59

European Economics Preview: Eurozone Foreign Trade Data Due

Foreign trade data from euro area is due on Friday, headlining a light day for the European economic news. At 3.00 am ET, Spain's statistical office INE publishes final consumer price data for December. Prices are forecast to remain flat on a yearly basis as initially estimated. In the meantime, Turkey's unemployment figures are due. The jobless rate is seen unchanged at 10.3 percent in October. At 4.00 am ET, Italy's statistical office Istat issues final consumer prices for December. According to preliminary estimate, consumer prices rose 0.1 percent from last year. Half an hour later, the Office for National Statistics issues U.K. construction output data. Output is forecast to fall 0.1 percent on a yearly basis in November after rising 1 percent in October. At 5.00 am ET, Eurostat is set to release Eurozone foreign trade figures for November. The trade surplus is expected to rise slightly to EUR 21 billion from EUR 19.9 billion in October.

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**InstaForex Gertrude** · 18-01-16, 03:11

Oil Slides to Lowest Since 2003 As Iran Sanctions Lifted

Brent and U.S. crude futures fell to the lowest since 2003 following the lifting of the sanctions at the weekend. Iran is ready to increase its crude exports by 500,000 barrels a day, the deputy oil minister said on Sunday, hours after international sanctions on Tehran were lifted, removing an obstacle to exports. NYMEX crude for February delivery was down 86 cents at $28.56 a barrel, after falling more than $1 earlier to $28.36, the lowest since Oct. 30, 2003. London Brent crude for March delivery was down $1.14 at $27.80 a barrel by 2333 GMT, after touching an intraday low of $27.70 earlier, the lowest since Nov. 25, 2003.

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**InstaForex Gertrude** · 18-01-16, 04:56

UK House Prices Rise For First Time In 3 Months: Rightmove

British house prices climbed at the start of the year, after declining in the previous two months, the latest house price balance from property tracking website Rightmove showed on Monday. The house price index rose slightly by 0.5 percent month-over-month in January, in contrast to a 1.1 percent decrease in December. "With their asking prices pretty much the same as a month ago, perhaps the knock-on effects of the more punitive landlord tax regime have arrived early and they now face a dilemma over whether to buy now or wait to see if prices drop in this sector over the next few months," Miles Shipside, co-founder of Rightmove, said. On an annual basis, house prices house prices grew at a slower pace of 6.5 percent in January, following a 7.4 percent surge in the prior month.

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**InstaForex Gertrude** · 18-01-16, 05:59

Azerbaijan gas output in 2015 totalled 29.1 BCM - energy minister

Azerbaijan's Energy Minister Natig Aliyev said the country's gas production in 2015 totalled 29.1 billion cubic metres (bcm). He said gas output from the Azeri Shah Deniz field was seen at 10.1 bcm in 2016, up from 9.9 bcm ilast year, and that oil production at BP-operated ACG fields amounted to 31 million tonnes last year.

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**InstaForex Gertrude** · 19-01-16, 05:00

Australian Dollar Falls Against Majors

The Australian dollar weakened against the other major currencies in the Asian session on Tuesday. The Australian dollar fell to a 4-day low of 0.9945 against the Canadian dollar, from yesterday's closing value of 0.9993. Against the U.S. dollar, the yen and the euro, the aussie dropped to 0.6839, 80.19 and 1.5943 from yesterday's closing quotes of 0.6865, 80.51 and 1.5861, respectively. If the aussie extends its downtrend, it is likely to find support around 0.98 against the loonie, 0.67 against the greenback, 79.00 against the yen and 1.61 against the euro.

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**InstaForex Gertrude** · 20-01-16, 05:09

NZ Dollar Drops Against Majors

The New Zealand dollar weakened against the other major currencies in the Asian session on Wednesday. The NZ dollar fell to more than a 3-month low of 1.7165 against the euro and a 5-day low of 74.61 against the yen, from yesterday's closing quotes of 1.7000 and 75.38, respectively. Against the U.S. and the Australian dollars, the kiwi dropped to nearly a 4-month low of 0.6366 and more than a 5-week low of 1.0841 from yesterday's closing quotes of 0.6408 and 1.0775, respectively. If the kiwi extends its downtrend, it is likely to find support around 1.73 against the euro, 73.00 against the yen, 0.62 against the greenback and 1.10 against the aussie.

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**InstaForex Gertrude** · 20-01-16, 06:51

Oversupply may saturate oil market, says IEA

Oversupply may submerge the overall crude oil market until at least in the latter part of 2016 due to increasing supply and unusual warm weather. Based on the International Energy Agency's monthly report, such factors could push oil prices lower than its present 12-year troughs. It also warned of more price declines ahead. Also, the IEA said oil supply worldwide could surpass demand by 1.5 million barrels per day in the first half of the year, with Iran adding 600,000 bpd by mid-2016 and other nations keeping current output. Brent futures LCOc1, sliding below $30 a barrel, have hit its lowest level since late 2003 after the Organization of the Petroleum Exporting Countries decided not to reduce output to stop the price decline amid oversupply.

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**InstaForex Gertrude** · 21-01-16, 03:44

Fitch: Rising Interest Rates to Ease Taiwan Life Insurers' Negative Spreads

Fitch Ratings says in a new report that a persistent decline in the costs of insurance liabilities and improvements in recurring investment yields on rising market interest rates will reduce Taiwanese life insurers' negative interest spreads. However, the Sector Outlook remains Negative as Fitch expects that the high guaranteed rates of legacy policies will still constrain the sector's profitability at least in the near term. Life insurers' costs of insurance liabilities have been dropping by about 10 bp per year with inflows of low-guaranteed-rate policies. Fitch estimates that large insurers have lower funding costs at below 3.5% after including mortality/morbidity and loading gains, versus above 4.5% for some small insurers. Rising interest rates would help improve returns from life insurers' assets, which have shorter duration than their insurance liabilities. Asset risk is the key concern in the life sector, as life insurers have taken significant overseas investments at 55.7% of invested assets at end-August 2015. They are increasingly involved in corporate bonds, financial debentures and sovereign bonds of emerging markets, shifting from treasuries and agency bonds issued by developed countries. Their capitalisation, therefore, is vulnerable to unfavourable movements in the capital and currency markets. For non-life insurers, their Stable Sector Outlook is supported by strong capital buffers and satisfactory underwriting performance, with combined ratios generally below 95%. Non-life insurers' aggregate equity-to-assets ratio was 32% at end-August 2015. They had also accumulated claims equalisation reserves of 13% of total assets by end-2014. The sector's underwriting leverage remains low, at around 1x between 2011 and 2014, as measured by net premiums written/shareholders' equity.

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