Forex News from InstaForex

**InstaForex Gertrude** · 17-04-17, 04:51

U.S. Energy Chief Orders Study of Electric Grid to Ensure Power Supplies

U.S. Energy Secretary Rick Perry called for a study of the U.S. electric grid, with the focus on examining whether policies which promote wind and solar energy are further accelerating the retirement of coal and nuclear plants significant to assure stable and reliable power supplies.

The 60-day review follows as regulators try to figure out how they could balance electric reliability with a stack of state policies that are more focused on less stable renewable energy sources. U.S. President Donald Trump has moved to dismantle Obama-era policies which impeded coal-fired power plants. Regulations that Perry claims have reduced jobs and threatened to weaken the grid's performance. Perry's move implies that the administration is looking for ways to maintain coal plants online.

The study comes after the G-7 Energy Ministerial meeting in Rome where a discussion was made for the need to diversify the supply of electricity. German consumers have been bearing the expense for a green transition, as it promptly shuts nuclear plants and embraces renewable power.

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**InstaForex Gertrude** · 19-04-17, 05:57

Fxwirepro: Thai Baht Marginally Higher in Early Hours of Asia, Faces Strong Support at 34.24

USD/THB is currently trading around 34.30 marks.

It made intraday high at 34.35 and low at 34.30 marks.

Intraday bias remains bearish till the time pair holds key resistance at 34.45 mark.

On the top side, key resistances are seen at 34.45, 34.56, 34.67, 34.85, 34.97, 35.11, 35.20, 35.32, 35.42, 35.62, 35.74, 35.84, 35.93, 36.01, 36.08 and 36.39 marks respectively.

Alternatively, a daily close below 34.35 will drag the parity down towards key supports around 34.24 and 34.01 marks respectively.

Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.

We prefer to take short position in USD/THB only below 34.24, stop loss at 34.44 and target of 34.01.

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**InstaForex Gertrude** · 20-04-17, 02:33

New Zealand’s Consumer Price Inflation Accelerates Above Expectations in Q1 2017

New Zealand’s consumer price index rose 2.2 percent year-on-year in the first quarter of this year, showed Statistics New Zealand. This is the highest annual rise since the first quarter of September 2011. It is above market expectations of 2 percent. Statistics New Zealand senior manager Jason Attewell stated that increasing prices of petrol along with the annual increase in tax of cigarette and tobacco lifted inflation.

Prices related to housing continued to rise in the quarter, rising 3.3 percent year-on-year. Meanwhile, transport prices were up 3.5 percent, the second largest contribution to the inflation, with petrol partly countered by declines in other private transport services. Stripping out cigarettes, petrol and tobacco, the consumer price index rose 1.5 percent year-on-year in the March quarter.

On a quarter-on-quarter basis, the consumer price index was up 1 percent in the first quarter after a 0.4 percent rise in the fourth quarter of 2016. This is above the market expectations of a rise of 0.8 percent. Adjusting for seasonal effects, consumer price inflation rose 1 percent.

“Higher prices for cigarettes and tobacco, petrol, and fruit were partly offset by lower prices for international air transport, and package holidays,” added Attewell.

Prices for tobacco and cigarette upwardly contributed the most to inflation on a quarter-on-quarter basis, noted Statistics New Zealand.

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**InstaForex Gertrude** · 20-04-17, 04:19

U.S. Stocks Mostly Lower as IBM, Oil Prices Weigh

Wall Street finished mostly lower, with IBM and oil prices weighing on the Dow Jones industrial average. Investors priced in the newest round of earnings and are also focused on France, with the country's presidential election drawing close.

The Dow Jones industrial average dropped 0.58 percent at 20,404.49, as IBM led losses while Merck outperformed. The S&P 500 slipped 0.17 percent at 2,338.17, with energy leading seven sectors down and healthcare being the top gainer. The Nasdaq composite added 0.23 percent at 5,863.03.

IBM plunged 4.9 percent to $161.69 following its larger-than-expected decline in revenue for the first time in five quarters. The energy sector tumbled 1.4 percent for its fifth slip in six sessions with oil prices settling almost four percent down.

Financials traded higher earlier in the session after Morgan Stanley reported a strong first-quarter as its fixed-income trading revenue doubled year over year. The lender's results climbed to the top of Wall Street expectations, in contrast to Goldman Sachs that surprised investors with weak earnings and revenue. Shares of Morgan Stanley climbed two percent.

Intuitive Surgical jumped 6.4 percent at $807.94 to help raise the Nasdaq after the firm posted higher-than-expected first-quarter revenue and profit. The stock is on course for its best day in almost two years.

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**InstaForex Gertrude** · 21-04-17, 04:17

Fxwirepro: Eur/krw Rejects Key Resistance at 1,224 Mark, Consistent Close Below 1,217 Targets 1,201 Mark

EUR/KRW is currently trading around 1,220 mark.

Pair made intraday high at 1,220 and low at 1,216 levels. Intraday bias remains neutral till the time pair holds key support at 1,217 mark.

A daily close below 1,217 will drag the parity down towards key supports around 1,208, 1,200, 1,194, 1,189, 1,178, 1,163 and 1,154 marks respectively.

Alternatively, a sustained close above 1,217 will take the parity higher towards key resistances around 1,224, 1,228, 1,233, 1,242 and 1,252marks respectively.

Seoul shares open up 0.56 pct at 2161.24.

Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.

We prefer to take short position in EUR/KRW only below 1,217, stop loss at 1,224 and target of 1,201.

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**InstaForex Gertrude** · 25-04-17, 04:16

Chow Tai Fook Gains Australian Government Approval for $3 Billion Deal

Hong Kong conglomerate Chow Tai Fook Enterprises Ltd. has obtained the approval of the Australian government regarding its bid for gas and electricity firm Alinta Energy Ltd.

According to a spokeswoman for Treasurer Scott Morrison, the takeover was approved with strict conditions. The deal has been approved by the Foreign Investment Review Board and the treasury declined to comment further.

The buyout bid from Chow Tai Fook valued Alinta at nearly four billion Australian dollars (US$3.02 billion), a person familiar with the topic said. Both companies did not reveal financial terms on the deal.

Chow Tai Fook, which is widely-known for its jewelry business, is the biggest in the world by revenue. For the conglomerate, this deal marks its first significant investment in Australia's energy industry, granting the company control of a utility with nearly 800,000 electricity and gas customers as well as a generation portfolio of as much as 1,957 megawatts.

The Hong Kong conglomerate said it plans to maintain Alinta's current senior management team and aims to expand business through investment in the energy market. The deal is seen to close by the end of April.

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**InstaForex Gertrude** · 26-04-17, 04:43

Wall Street Gains as Nasdaq Rises Above 6,000

U.S. equities advanced sharply as strong quarterly reports from numerous big-cap firms followed through. The Nasdaq Composite reached a record peak, while the Dow and S&P 500 were also near recent highs as solid earnings highlighted the health of corporate America.

The Dow Jones industrial average climbed 1.12 percent at 20,996.12, as Caterpillar led gains while Verizon was the top decliner. The S&P 500 rose 0.61 percent at 2,388.61, as materials led nine sectors up while telecommunications and utilities lagged behind. The Nasdaq composite advanced 0.7 percent at 6,025.49.

Caterpillar jumped 7.7 percent at $104.29 after earlier notching a multi-year peak of $104.71 while Mcdonald's bounced 5.6 percent to $141.71, both after exceeding profit estimates.

According to Thomson Reuters, total profits of S&P 500 firms are estimated to have increased 11 percent during the first quarter, the most since 2011.

The Nasdaq scaled a record level of 6,036.02, breaking 6,000 for the first time, powered by advances in index heavyweights Apple and Microsoft. The S&P 500 notched its day's peak after a report that U.S. President Donald Trump's tax proposal will be expected on Wednesday.

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**InstaForex Gertrude** · 27-04-17, 05:37

Wall Street Slips as Trump Unveils Tax Plan

U.S. equities retreated as investors priced in President Donald Trump's plan for tax reform, while earnings season carried on. The proposal from the Trump administration reduced tax rates for businesses and on overseas corporate profits returned to the country.

The Dow Jones industrial average slipped 0.1 percent at 20,975.09, as Procter & Gamble led losses while Verizon outperformed. The S&P 500 fell 0.05 percent at 2,387.45, with real estate leading seven sectors down and telecommunication the top gainer. The Nasdaq composite lost 0.27 points to end at 6,025.23.

The S&P 500 dropped marginally after wavering near an all-time peak. Expectations for lower corporate taxes have been an advantage for stocks ever since Trump was elected in November.

Retail stocks jumped on Trump's announcement, as it revealed that it did not include a border adjustment tax. The SPDR S&P Retail ETF (XRT) climbed one percent.

Among stocks, United Technologies climbed 1.1 percent to $118.20 and gave the largest lift to the Dow industrials after posting a quarterly profit that exceeded expectations supported by higher sales in all four of its business units. Shares of Boeing lost almost one percent to $181.71 after the planemaker posted a decline in revenue.

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**InstaForex Gertrude** · 28-04-17, 05:46

Iraq Says to Trail Consensus at Next Month's OPEC Gathering

Iraq said it will simply go with the flow when OPEC convenes in Vienna this May to determine whether to prolong output accord, according to the country's oil chief.

Iraqi oil leader Jabar Ali al-Luaibi reiterated Thursday they are definitely going with the consensus reached by the oil cartel during their gathering.

He added the country is fully committed to the agreement as it has attained around 97% of its production target.

Luaibi also said the production cuts led by the organization were slowly leading to a much-anticipated rebalancing of the crude market.

The Iraqi official stressed the OPEC decision to c

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**InstaForex Gertrude** · 04-05-17, 02:49

Anz New Zealand Job Ads rise Strongly in April, Suggests Ongoing Solid Employment Growth

The ANZ New Zealand job ads rose strongly in April on a seasonally adjusted basis. The job ads rose robustly by 2.8 percent, the strongest rise in five months. On a year-on-year basis, job ads were up 18.2 percent.

The ongoing high level of job ads shows a robust labor market. The rate of growth seems to be rising again following flattening off for a period. This is in line with the economy reaccelerating in the first quarter after moderate growth seen at the end of last year.

Auckland continues to be the strongest of the main centres on a year-on-year basis, with the seasonally adjusted monthly figure of job ads rising 3 percent to a fresh high. Wellington job ads growth was up 15 percent year-on-year, whereas Canterbury job ads rose to the highest level since mid-2015.

The regions continue to set the pace, noted ANZ. Except Taranaki, every region is seeing stronger annual job ad growth than any of the three main centres. However, the picture over the last few months is more mixed. The total job ads growth is being mainly driven by the construction, manufacturing, utilities and transport sector. The service sector is also adding strongly, along with retail and tourism.

“The data suggests ongoing strong employment growth, with the unemployment rate remaining under 5 percent this year. Lower unemployment will help propel wages higher”, added ANZ.

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**InstaForex Gertrude** · 05-05-17, 03:18

Australia Performance Of Construction Index Climbs To 51.9 - AiG

The construction sector in Australia continued to expand in April, and at a faster rate, the latest survey from the Australian Industry Group revealed on Friday with a Performance of Construction Index score of 51.9.

That's up from 51.2 in March, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

Among the actives, house building activity continued to expand in April, while apartment building turned back to expansion - but commercial construction continued to weaken.

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**InstaForex Gertrude** · 05-05-17, 04:40

Wall Street Little Changed as Healthcare Bill Passed

U.S. equities were little changed as the sharp decline for the energy sector offset some strong earnings reports after the U.S. House of Representatives passed a health care overhaul.

The House voted to repeal major parts of the 2010 Affordable Care Act, also known as Obamacare, and replace it with the Republican healthcare, sending it to the Senate for consideration.

The Dow Jones industrial average dropped 0.03 percent at 20,951.47, as Caterpillar lagged behind while 3M outperformed. The S&P 500 added 0.06 percent at 2,389.52, as consumer staples led eight sectors up while energy underperformed. The Nasdaq Composite gained 0.05 percent at 6,075.34.

The healthcare sector traded higher for most of the session and was the second-best performer in the S&P. Regeneron jumped 6.7 percent while Zoetis advanced 5.9 percent after results.

The energy sector fell 1.9 percent and was the worst performing group. Exxon Mobil's 1.3 percent drop and Chevron's 1.8 percent tumble added pressure on the S&P.

Among shares active in corporate news, Tesla slipped five percent after the electric automaker's quarterly net loss expanded.

Earnings season continued, as social media heavyweight Facebook exceeded estimates for both profit and revenue,the same goes for Chesapeake Energy and Church & Dwight, among others. The season has mostly been above expectations which encouraged investors.

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**InstaForex Gertrude** · 08-05-17, 03:21

French Election: How Much Pro-Eu Is Macron?

This year’s French election second round was similar to a referendum on the European Union. While the now defeated Front National candidate was the most prominent EU-skeptic, the independent candidate who just won with more than 65 percent of the votes is believed to be the most pro-EU candidate among the lot.

There were 11 candidates in this year’s French election. Three were EU-skeptic and the rest eight were pro-EU. So, how much pro-EU is Emmanuel Macron?

He is the candidate, who favors the European Union and wants further integration within the bloc to make the cementing stronger.

One of the biggest drawbacks of the European Union is that it is not a political union and Macron is one of the few who would like to remove that obstacle probably by giving up parts of the French sovereignty if others join in too.

He is an EU-optimist. While many remain skeptical towards the European Union in the current scenario, he believes that good days of the EU are ahead and he believes that the union could become even stronger under the right leadership.

The following instance would give the readers fair idea of his support towards the EU.

After it was clear that Emmanuel Macron is the winner of the election, he appeared in front of his supporters to the sound of the EU anthem Ode To Joy instead of the French instead of French National Anthem La Marseillaise.

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**InstaForex Gertrude** · 09-05-17, 03:15

Benchmark Treasury Yield Hits Multi-Weeks High after French Vote

U.S. government bond prices fell and drove up yields after Emmanuel Macron emerged victorious in the runoff for the French presidential election, easing geopolitical worries that anti-EU Marine Le Pen would win.

The yield for the benchmark 10-year Treasury note rose 2.4 bps to 2.376 percent, its highest level in six weeks. Meanwhile, the yield on the two-year Treasury note edged up 1.2 bps to the fourth day in a row to 1.330 percent, its longest winning stretch since early March. The yield for the long bond or the 30-year note advanced 2.5 bps to 3.013 percent.

Risk appetite improved and investors shed their safe-haven assets as Macron's conclusive defeat of the far-right contender Le Pen was perceived as a decisively indicative test for the wave of populism rising over Europe, allaying markets that have become anxious over a rising support for the anti-EU establishment politicians.

The gap or spread between German and French bond yields, has now fallen to 41.7 bps from a peak of 78 bps in February. Traders are also now looking forward to the wave of economic data

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**InstaForex Gertrude** · 10-05-17, 04:49

China CPI Climbs To 1.2% In April

Consumer prices in China were up 1.2 percent on year in April, the National Bureau of Statistics said on Wednesday.

That topped expectations for an increase of 1.1 percent and was up from 0.9 percent in March.

On a monthly basis, inflation added 0.1 percent after slipping 0.3 percent in the previous month.

The bureau also said that producer prices climbed 6.4 percent on year - shy of forecasts for 6.7 percent and down from 7.6 percent a month earlier.

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**InstaForex Gertrude** · 10-05-17, 04:59

ESPN’s Woes Weigh on Disney

Walt Disney Co. failed to pacify investors' worries regarding its cable unit, as it reported that profit in the business slump in the latest quarter.

ESPN saw a decline in subscriber and drained more money due to its higher programming expenditures. The unit's worries eclipse a quarterly profit that beat projections, causing Disney shares to retreat 2.4 percent in extended trading.

The cable division's sales registered at $4.06 billion, shy of the $4.2 billion average estimates by analysts. The business' profit also fell by 3 percent, according to the firm, due to the higher costs for NBA games and football.

The quarterly results reveal the biggest entertainment company struggling to manage the issues at its biggest business. Investors have been closely monitoring how ESPN will handle the shift in television as viewers turn away from old school pay TV services and shift towards online services. Despite Disney adding new customers on new digital platforms, it was not enough to offset the subscriber losses in its basic cable division.

The cable division's problems overshadowed the strong results in other businesses. Disney's total profit climbed to $1.50 per share in the second quarter, beating estimates of $1.41 per share.

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**InstaForex Gertrude** · 11-05-17, 03:48

Fox’s Profits Weighed Down by Weak Ad Sales

Rupert Murdoch's 21st Century Fox posted a profit drop in the most recent quarter, weighed down by the weak cable advertising and lack of box office hits during the period.

While ad revenue jumped at the Fox broadcast network due to the ratings of the much-awaited Super Bowl and an additional playoff, cable advertising sales fell as they have for other entertainment firms who have reported quarterly results in the last two weeks.

But during a call with investors, CEO James Murdoch project cable ad sales will advance at a high single-digit rate this quarter. Despite the loss of its most known host, Bill O'Reilly, Fox News has managed to keep its high ratings and the firm's faith in the business remains solid.

Revenue from cable programming increased 2.1 percent to $4.02 billion, slowed down by the flat local advertising and a decline in international ad sales. The revenue from Fox's biggest business also did not reach estimates of $4.13 billion on average. Total revenue, helped by the Super Bowl advertising, climbed 4.6 percent to $7.56 billion in the quarter ended March 31, but was shy of the projected $7.64 by analysts.

The result announcement caused the stock to fall 1.4 percent to $27.50 in late hours trading. It shed 1.2 percent to close at $27.90 in New York.

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**InstaForex Gertrude** · 12-05-17, 04:06

Fxwirepro: Eur/krw Hits Fresh 3-Week Low at 1,218 Mark, Consistent Close Below Targets 1,207 Mark

EUR/KRW is currently trading around 1,220 mark.

Pair made intraday high at 1,221 and low at 1,218 levels.

Intraday bias remains neutral till the time pair holds key support at 1,218 mark.

A daily close below 1,219 will drag the parity down towards key supports around 1,212, 1,207, 1,200, 1,194, 1,189, 1,178, 1,163 and 1,154 marks respectively. Alternatively, a sustained close above 1,219 will take the parity higher towards key resistances around 1,230, 1,237, 1,249, 1,262 and 1,274 marks 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.

Seoul shares open down 0.01 pct at 2296.06.

We prefer to take short position in EUR/KRW only below 1,218, stop loss at 1,230 and target of 1,207/1,200.

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**InstaForex Gertrude** · 12-05-17, 04:29

Verizon to Buy Straight Path for Nearly $3.1 Billion

Telecommunications conglomerate Verizon Communications Inc. is set set to buy wireless spectrum holder Straight Path Communications Inc. for around $3.1 billion, roughly double of rival AT&T's initial offer. Verizon aims to gain an advantage in the race towards a 5G network.

Straight Path holds licenses to use high-frequency radio waves that some engineers believe would form the foundation of next-generation networks. The company is one of the biggest holders of millimeter wave spectrum. Furthermore, 5G is expected to boast higher speeds, shorter response times and more capacity.

Verizon will pay $184.00 per share in Verizon stock for the firm. The $184 a share all-stock offer represents a discount of 17.8 percent to Straight Path's close on Wednesday and an equity value of $2.3 billion. The stock jumped almost five-fold since April 7.

Back in April, AT&T announced it would buy Straight Path for $1.25 billion in an an all stock deal. Straight Path then said that it received a bid from an unnamed bidder that Reuters reported was actually Verizon, citing sources. In January, Straight Path placed itself on the block.

On behalf of Straight Path, Verizon will pay a termination fee of $38 million to AT&T. The deal is seen to close within nine months. As part of an earlier settlement, Straight Path will also have to pay the U.S. government a 20 percent cut from the sale of its spectrum licenses.

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**InstaForex Gertrude** · 15-05-17, 06:45

Fxwirepro: Thai Baht Gains on the Back of Higher Than expected Gdp Data

USD/THB is currently trading around 34.60 marks.

It made intraday high at 34.67 and low at 34.57 marks.

Intraday bias remains bearish till the time pair holds key resistance at 34.74 marks.

On the top side, key resistances are seen at 34.74, 34.82, 34.97, 35.11, 35.20, 35.32, 35.42, 35.62, 35.74, 35.84, 35.93, 36.01, 36.08 and 36.39 marks respectively.

Alternatively, a daily close below 34.66 will drag the parity down towards key supports around 34.54, 34.41, 34.34, 34.24 and 34.01 marks respectively. Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.

Thailand’s Q1 GDP +3.3 pct yr/yr (vs +3.2 pct in poll).

Thailand’s Q1 GD +1.3 pct q/q seasonally adjusted (vs +1.2 pct in poll).

We prefer to take short position in USD/THB around 34.65, stop loss at 34.75 and target of 34.41.

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