Forex News from InstaForex

**InstaForex Gertrude** · 17-01-17, 06:27

High-Speed Traders Drive 80% of Bitcoin Trading

Professional traders loaded with cutting-edge technology currently drive nearly 80 percent of bitcoin trading, resembling strategies done by some of the major players on Wall Street. Volumes followed by Bitcoinity.org have soared to a record high in January, which raises the chances for high-speed traders to gain profit.

The market structure of the cryptocurrency provides arbitrage opportunities across multiple exchanges, zero transaction costs on Chinese venues, day and night trading, and co-location services which allow individuals to place their servers right next to the exchange. Chen Zhenguo, who founded China's biggest platform for facilitating bitcoin strategies, claimed he's generated annualized gains of 50 percent for his own account. The cryptocurrency's price fluctuations have impeded some high-speed companies, as the increasing dominance of trades raises the question of how long the opportunities will last.

Bitcoin's current market value is around $13.5 billion, against $6.5 trillion for Chinese equities. The cryptocurrency climbed 0.1 percent to $833.92.

News are provided by InstaForex

**InstaForex Gertrude** · 19-01-17, 05:32

Gold Prices Drop on Yellen Remarks

Gold prices remained under pressure following Federal Reserve Chair Janet Yellen's remarks that supported gradual U.S. interest rate hikes. Spot gold was little changed at $1,203 an ounce. The bullion previously reached an eight-week peak of $1,218.64, however, it dropped one percent in the earlier session as the dollar firmed.

U.S. gold futures were 0.7 percent lower at $1,203.50 an ounce. Several Fed officials were seen supporting the case for a gradual increase in U.S. interest rates. The precious metal extended losses following the latest release of the Fed's Beige Book which indicated a rise in manufacturing and tight labor markets showing upbeat U.S economic health. According to Capital Economics analyst Simona Gambarini, higher rates will likely add pressure to gold, as it is highly sensitive to increasing interest rates which raise the opportunity cost of holding non-yielding bullion.

Prices of Silver were higher as March silver added 0.7 percent to $17.274 per ounce while palladium shed 0.3 percent to $751 per ounce. In ETF trading, the SPDR Gold Trust retreated 0.6 percent while the iShares Silver Trust edged down 0.1 percent.

News are provided by InstaForex

**InstaForex Gertrude** · 20-01-17, 05:54

New Puerto Rico leader eyes sealing amicable debt agreement

Puerto Rico and its lenders have resumed negotiations this week. But Governor Ricardo Rosselló wants to reset talks following a rancorous two years between the two parties.

The new governor, who succeeded Alejandro García Padilla after winning the election in November, said Thursday he was aiming for a rational change from the previous administration's management of discussions and assert their willingness to repay debts.

Rosselló mentioned officials are willing to sit down and to employ an actual fiscal oversight. He added they are steps to implement bold reforms.

Since he assumed office on January 2, the Puerto Rican leader has enacted executive orders which will pressure government agencies to slash operating expenditures by 10% this year and cut political appointees by a fifth.

News are provided by InstaForex

**InstaForex Gertrude** · 24-01-17, 06:22

Gold Reached Two-Month Peak as Trump Uncertainty Looms

Gold climbed on Monday, hitting its highest in two months as uncertainty regarding the economic policies of U.S. President Donald Trump pressured investors to turn to safer assets. Uncertainty concerning Trump's policies drove the dollar to a 1-½ month low against a basket of currencies.

Spot gold was 0.56 percent higher at $1,216.33 per ounce. It previously reached $1,219.43, its highest since Nov. 22. U.S. gold futures was up at $1,215.60. The precious metal ended one percent higher last week for its fourth consecutive week of gains and longest stretch of weekly rises since July. Data from the U.S. Commodity Futures Trading Commission (CFTC) showed that speculators increased their net long positions in COMEX gold contracts for a second week in the week to Jan. 17.

Among other precious metals, silver climbed 0.93 percent to $17.19 and platinum added 0.77 percent to $983.50. Palladium was 1.57 percent lower at $776.00, as it previously hit $795.60, its highest since May 2015.

News are provided by InstaForex

**InstaForex Gertrude** · 25-01-17, 05:22

Dollar, U.S. Yields Higher Amid Uncertainty on Trump’s Protectionist Stance

The dollar held gains as Treasury yields rebounded, lifting the greenback from recent lows against the yen and euro amid unease regarding U.S. President Donald Trump's protectionist stance. The dollar index dropped as low as 99.922 on Tuesday, as the initial enthusiasm tempered by Trump's inaugural speech from the previous week was pointing towards trade protectionism. The index was last at 100.270.

The U.S. currency was 0.1 percent higher, it had added nearly one percent the day earlier, jumping from 112.520, its lowest since late November. The euro was steady at $1.0730. The common currency has shed nearly 0.3 percent overnight, retreating from a near seven-week peak of $1.0755. The pound was 0.1 percent higher. It had weakened to as low as $1.2420 overnight before rebounding after the British Supreme Court ruled that the government will pass through parliament.

The Australian dollar climbed 0.2 percent at $0.7591. However, the dollar's overnight rise kept the Aussie away from a 10-week peak of $0.7609 touched the day earlier. U.S. Treasury yields rose as investors seized equities on better outlook on latest corporate profits, reducing their safe-haven demand for bonds triggered by Trump's protectionist trade stance.

News are provided by InstaForex

**InstaForex Gertrude** · 26-01-17, 05:56

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.

News are provided by InstaForex

**InstaForex Gertrude** · 26-01-17, 06:03

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.

News are provided by InstaForex

**InstaForex Gertrude** · 30-01-17, 05:37

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.

News are provided by InstaForex

**InstaForex Gertrude** · 31-01-17, 05:16

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%.

News are provided by InstaForex

**InstaForex Gertrude** · 01-02-17, 05:52

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.

News are provided by InstaForex

**InstaForex Gertrude** · 02-02-17, 05:26

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

News are provided by InstaForex

**InstaForex Gertrude** · 06-02-17, 05:22

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.

News are provided by InstaForex

**InstaForex Gertrude** · 07-02-17, 04:57

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.

News are provided by InstaForex

**InstaForex Gertrude** · 07-02-17, 08:17

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

**InstaForex Gertrude** · 08-02-17, 06:10

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.

News are provided by InstaForex

**InstaForex Gertrude** · 09-02-17, 03:19

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.

News are provided by InstaForex

**InstaForex Gertrude** · 14-02-17, 06:03

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.

News are provided by InstaForex

**InstaForex Gertrude** · 16-02-17, 05:22

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.

News are provided by InstaForex

**InstaForex Gertrude** · 17-02-17, 02:13

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

**InstaForex Gertrude** · 20-02-17, 05:25

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.

News are provided by InstaForex