Forex News from InstaForex

**InstaForex Gertrude** · 24-06-16, 07:02

S&P 500 Futures Stumble as ‘Leave’ Camp Ahead in Early Referendum Tally

U.S. stock index futures dropped in after-hours trading as preliminary results from Britain's referendum to stay or leave the EU showed a lead for supporters of a British Exit or Brexit.

S&P E-mini futures was down 0.8% as early tally showed 52.6% of the vote for the “leave" camp and 47.4% for the “stay" camp. Sterling plunged down to $1.4351 against the greenback, erasing its earlier gains which elevated the pound its peak of beyond $1.50 this year after polls indicate that Britons had 52-48% to remain in the EU bloc. Futures on the VIX .VIX volatility index climbed 1.02 pts. to 17.7 as anxiety among investors increase.

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**InstaForex Gertrude** · 27-06-16, 05:50

Fxwirepro: Usd/jpy Stabilises Above 102.00 Mark, Bias Remains Bullish Above 101.48

USD/JPY is currently trading around 102.34 marks. It made intraday high at 102.47 and low at 101.50 levels. Intraday bias remains bullish till the time pair holds key support at 101.48 marks. A sustained close below 101.50 will drag the parity down towards key supports at 100.98, 99.27 and 98.82 levels respectively. Alternatively, a daily close above 103.45 is required to take the parity higher towards key resistances around 104.80, 106.12 and 107.46 levels respectively. Today is relatively calm session at the start of the new week. Markets expect range bound movement for the day.

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**InstaForex Gertrude** · 29-06-16, 07:29

Istanbul Airport Bombed, 31 Dead, 150 Wounded

Ataturk Airport, the largest in Turkey and third busiest airport in the world, was the target of suicide bombers on Tuesday. Witnesses testified seeing 3 gunmen who opened fire to the people before setting off explosives.

Justice Minister Bekir Bozdag said that a total of 31 were killed while 150 got wounded as a result of the attack. No group is claiming responsibility for the bombing yet, but police sources say that evidences point out to the Islamic State. This is because the same incident showed semblance to the attack that happened in Brussels airport on March 16.

Turkey President Tayyip Erdogan meanwhile has expressed that terrorism nowadays has no regard on faith and values since the bombing took place during the Ramadan.

The country has suffered from a series of attack just this year. It included two car bombings in Ankara and two suicide attacks in Istanbul. Turkey is known to be actively fighting the Islamic State and Kurdish militants.

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**InstaForex Gertrude** · 30-06-16, 05:02

Largest Diamond Fails to Sell in Sotheby London Auction

The 1,109-carat diamond Lesedi la Rona or “our light” remained unsold at an auction at London after the highest bid of $61 million didn't meet the minimum expected selling price. The diamond was expected to sell at $86 million. However, the highest bid only reached $61 million, far from the given “reserve price”, leaving the biggest diamond found in more than 100 years unsold at a Sotheby's auction on Wednesday.

It is unclear what will happen to the diamond after the auction, but analysts are now looking at the potential of a private sale, most likely in a deal where Lucara Diamond Corp., the company who owns the Karowe mine where the diamond was unearthed, will still have some interest from the polished stones.

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**InstaForex Gertrude** · 01-07-16, 06:03

Tony Blair Suggest Leaders Remain Calm

Former British Prime Minister, Tony Blair call for a sense of urgency when dealing with the process of the European Union negotiations. Blair recently declared that “our nation is in peril” following the referendum and added that a foreseeable complex relationship will soon be shared with other countries. Further on, he urged politicians to act with “genuine patriotic regard” in relation to the future of the country. Surprised by how distant and uncertain former European partners to Britain are today he goes off with a concerned tone.

Blair suggests that in troubling times such as this the nation must portray a calm united front of supporting each other. The Labour party politician insists that this not be the time for another argument regarding the referendum and that politicians must be open to anything. He also mentioned for leaders to keep a cautious eye on Ukip leader Nigel Farage at the European parliament

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**InstaForex Gertrude** · 04-07-16, 08:21

Russian tycoon Prokhorov's Onexim Group assets on sale – Vedomosti

Russian newspaper Vedomosti on Monday said Onexim Group, which is owned by billionaire tycoon Mikhail Prokhorov, has put all its assets on sale. Onexim owns stakes in aluminium giant Rusal, potash firm Uralkali and power generator Quadra. The investment fund firm did not respond for comment. In April, it was reported that offices of Onexim were searched for a tax investigation by Russian law enforcement officials.

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**InstaForex Gertrude** · 08-07-16, 05:57

Oil Prices Recover from Two-Month Lows

Oil prices rose from two-month lows in the prior session on Friday, when prices plunged 5% on information that the U.S. weekly draw was below the forecast.

Brent crude futures traded at $46.88 per barrel, rising 48 cents or 1.03% from their last settlement while U.S. crude rose to $45.51 a barrel by 0.82% or 37 cents. The Energy Information Administration reported that U.S. commercial crude stocks climbed down by 2.22m barrels to 524.35 million barrels, a lower withdrawal rate than what was expected by most traders.

The Brent is expected to average at $51 per barrel and $52 per barrel in the third quarter and fourth quarter of this year respectively by the Global Risk Management.

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**InstaForex Gertrude** · 11-07-16, 06:59

Nikkei surges to 3.6 percent

Following the rise of U.S. stocks, Japan's Nikkei share average surged to more than 3 percent and by mid-morning the currency topped to 3.6 percent. In wake of the landslide victory of the coalition, Prime Minister Shinzo Abe's win has produced market confidence and has also directed a message to foreign investors that his policies are a sign for future growth.

Everyone in the Topix was in a bullish mood. Continuing last week's profit, Nintendo Co increased more than 20 percent with optimism that their new Pokemon GO smartphone will produce better outcome. Panasonic Corp surged by 6.6 percent and anticipates its lithium-ion batteries from Tesla Motors Inc to boost annual sales in the following years. The demand for exports produced a 3.7 percent rise for Toyota Motor Co and 3.8 percent for Tokyo Electron Ltd. JPX-Nikkei Index 400 increased to 3.4 percent with 11,245.46

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**InstaForex Gertrude** · 13-07-16, 07:58

Oil Production Slump Adds To Inflation of Venezuela

Venezuela's oil production has severely dropped. In June it has barely produced 2.15 million barrels of crude oil per day which is recognized as the weakest since 2003. This crisis indicates that the nation is dealing with a financial situation since Venezuela's economy is dependent on oil as it accounts for 96% of exports. It is the only country aside from Iraq that has reduced production for the previous month. As reported by the International Energy Agency, Venezuela has managed to produce 2.4 million barrels per day last year. Analysts affirmed that the failure of Venezuela lies in the fact that they haven't invested enough money to the oil industry. The fact that the country is facing enormous inflation is a result of the country's currency decline. Companies have found it difficult to adjust with the higher costs. Even though prices have increased, the continuous decline of production will result in oil revenue dropping further than expected

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**InstaForex Gertrude** · 14-07-16, 07:56

China Pledges to Defend South China Sea Control

China pledged it would take all needed actions in order to uphold its authority over the South China Sea and declared its entitlement to impose an air defense zone over the area, after vehemently rejecting the Permanent Court of Arbitration in the Hague's decision rebuking its claims to the disputed waters. The Chinese state media called the international court a “puppet” of outside forces following its ruling that China had violated the Philippine's sovereign rights by threatening its ships and intervening in its fishing zones and oil projects. Beijing promised to undertake all the needed measures to secure its territorial control and maritime rights according to a front-page report on the state's official People's Daily. The Philippines responded carefully to the decision released late Tuesday, calling for 'restraint and sobriety'. Presidential spokesperson Ernesto Abella reported that the mood at President Rodrigo Duterte's cabinet meeting held on Wednesday was “upbeat.”

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**InstaForex Gertrude** · 18-07-16, 06:08

Boost in Turkey's Lira sends investors running back

After failing to organize a coup, Turkey's Lira surged, reclaiming about a third of its loss as officials plan to limit Brexit's impact on the country by extensive liquidity and heightened support for the currency. The Lire rose by 1.6 percent to 2.9684 after its 4.6 decline on friday. The country is now starting to attract investors who predict a possible outflow from the country and sees potential in its rallying assets. In other news, Japan's yen continues to decline as it slipped 0.6 percent to 105.47 per dollar. US stocks, meanwhile, have advanced as S&P 500 index rose to 0.2 percent.

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**InstaForex Gertrude** · 19-07-16, 06:24

China to Continue Building on Contested Islands

China's navy chief Admiral Wu Shenli told his counterpart U.S. Chief of Naval Operations Admiral John Richardson during a meeting in Beijing that the communist nation would proceed with construction work on the contested South China Sea islands despite foreign objection, emphasizing China's rejection of the unfavorable ruling from the arbitration tribunal in the Hague.

Admiral Wu's statement on Monday came after the international tribunal court rebuked China's historic and economic claims over the majority of the South China Sea with the release of its July 12 decision, favoring the Philippines who brought the case with a legal victory.

The Chinese navy chief stated that they will not halt their construction activities on Nansha Islands, notwithstanding any nation or individual that express their opposition. He defended the construction as 'justified and lawful' and cautioned that undertakings to pressure China will only have the opposite results, according to reports of Xinhua News Agency.

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**InstaForex Gertrude** · 20-07-16, 07:07

Startup transactions in global decline

Startup companies supported by venture capital continue to lie low in terms of deals, and are burdened further by economic concerns and increased funding.
Reasons behind this point to larger startups such as Snapchat and Uber Technologies accounted for majority of the funding. CB Insights chief executive also forecast that there would be no improvement in terms of deal activity in the next quarters and that large deals will create an impression that funding levels are healthy.
It was also reported that despite several emerging companies in the second quarter, there would still be more of them that will be acquired at a lower value.

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**InstaForex Gertrude** · 22-07-16, 06:15

Dunkin’ Brands Shares Drop on Weak Growth, Soft Revenue

Dunkin' Brands shares dropped by as much as 4% in early trading on Thursday following the company's announcement of weaker-than-predicted sales growth and headwinds in international markets. But the stock regained ground and recovered its losses and closed at a modestly lower level.

Same-store sales at overseas locations of the company's Baskin-Robbins and Dunkin' Donut brands in the second quarter was down 6.6% and 3.1% respectively. The results are significantly lower than analysts' forecasts.

Sales in the U.S. stores also did not meet Wall Street approximations. Dunkin' announced same-store sales rise of 0.5%, lower than the expected 0.9% growth. Baskin-Robbins rose by 0.6% but was anticipated to rise 3.4% by Wall Street.

But Dunkin' Brands income topped Wall Street predictions, reporting profit of 57 cents per share compared to an estimate of 56 cents per share, with its revenue at $216.3 million. Analysts predicted an average revenue of $220.2 million.

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**InstaForex Gertrude** · 27-07-16, 06:24

Twitter Shares Plunge on Weak Outlook, Slowing Revenue Growth

Twitter announced that its revenue was up by only 20% to $602 million in the second quarter of the fiscal year, its smallest recorded gain and eight-consecutive period of contracting growth. The social-media company further cautioned that demand from advertisers that serve as its primary source of revenue, is weaker than predicted, dimming its outlook for the third quarter.

Twitter posted a net loss of $107.2 million or 15 cents a share against the loss of $136.7 million or 21 cents a share a year earlier. Twitter's shares plummeted by 11% to $16.39 in after-hours trading following the report, erasing gains from the prior month.

In a statement to shareholders, the social media firm has acknowledged that it is struggling to compete with other social media platforms, particularly in the advertising offerings. Twitter's CFO Anthony Noto stated in a interview that the company will venture into other areas of advertising budgets to increase demand and eventually boost revenues.

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**InstaForex Gertrude** · 28-07-16, 06:29

Facebook Earnings Exceed Expectations

Facebook reported earnings of $2 billion or 1.5 billion pounds in the second quarter of the year, up from $719 million in the same period last year.

Analysts had expected revenue of $5.8 billion, but the social media giant has surpassed even those high forecasts, posting $6.4 billion in revenue. Revenue has surged in all geographic zones, rising in Asia and Europe at 19% and 21% respectively.

Mobile advertising, which has been highly advocated by Facebook to businesses, composed 84% of Facebook's advertising revenue in the second quarter rising from 76% last year. The firm profited from an inflow of advertising money being redirected from television towards digital platforms. Facebook's number of monthly-active-users, an important gauge for advertisers, jumped by 15% to 1.71 billion as of the end of June 2016.

Shares of the company jumped 7% in after-hours trading.

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**InstaForex Gertrude** · 29-07-16, 06:05

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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**InstaForex Gertrude** · 03-08-16, 07:08

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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**InstaForex Gertrude** · 08-08-16, 06:04

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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**InstaForex Gertrude** · 09-08-16, 06:00

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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