Forex News from InstaForex

**InstaForex Gertrude** · 01-06-16, 05:50

Fxwirepro: South Korean Won falls on the Back of Lower Than expected Cpi Data

USD/KRW is currently trading around 1190 levels.
Overnight South Korea released CPI data with negative numbers.
South Korea’s May CPI growth Y/Y decreases to 0.8 % (forecast 0.90 %) vs previous 1.0%. In addition, CPI growth M/M decreases to 0.0 % (forecast 0.20 %) vs previous 0.1 %.
On the other side, South Korea’s April current account balance decreases to 5.14 bln $ vs previous 10.07 bln $ (revised from 10.07 bln $).
South Korea’s May trade balance prelim decreases to 7.1 bln $ vs previous 8.80 bln $.
Intraday bias remains bullish till the time pair holds key support at 1177 marks.
A daily close above 1194 is required to drag the parity higher towards key resistances at 1195, 1201, 1209 (20D EMA) and 1220 (March 03, 2016 high) marks respectively.
Alternatively, a sustained close below 1182 will tests key supports at 1172, 1162, 1153 (November 2015 low) /1142 (20D EMA)/ 1134/1127 (October 2015 low) /1121/1115 levels respectively.
Daily chart showing the 20D EMA has crossed over 30D and 55D EMA, which signals bullish trend. In addition, a sustained close above 1194(high as on May 24, 2016) is also required to confirm the same.
We prefer to take long position in USD/KRW only above 1194, stop loss 1177 and target 1209 marks.

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**InstaForex Gertrude** · 15-07-16, 07:42

Emerging company in Singapore is a potential digital landlord

A rising company in Singapore is gambling $1.7 billion on dominating Asia's digital services for technology hubs providing cloud services in the region.

AirTrunk Pte is currently working on building data centers in Sydney and Melbourne, along with the growing demand for cloud computing services. The company, who plans to compete by offering lower prices, is also set to close deals in Singapore and Hong Kong.

AirTrunk prides in its new cooling and electricity delivery system as an edge against bigger corporations. It will be investing $1.23 billion in Australia in the coming months and $350 million next year.

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**InstaForex Gertrude** · 02-08-16, 05:25

Australia Building Approvals Slide 2.9% In June

The total number of building approvals issued in Australia was down a seasonally adjusted 2.9 percent on month in June, the Australian Bureau of Statistics said on Tuesday - coming in at 18,693.

That was well shy of forecasts for an increase of 0.8 percent following the 5.2 percent contraction in May.

Individually, residential building approvals were down 3.4 percent on month, while non-residential approvals slid 2.4 percent.

On a yearly basis, building approvals sank 5.9 percent after sliding 9.1 percent in the previous month.

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**InstaForex Gertrude** · 02-11-16, 04:48

Fxwirepro: Usd/krw Hovers Around 1,148 Mark; Stay Bullish

USD/KRW is currently trading around 1,147 levels.

It made intraday high at 1,148 and low at 1,145 marks.

Intraday bias remains bullish till the time pair holds key support at 1,138 levels. A daily close above 1,148 will drag the parity higher towards key resistances at 1,152, 1,162, 1,176, 1,182, 1,196, 1,201, 1,209 (20D EMA) and 1,220 (March 03, 2016 high) marks respectively.

On the other side, a sustained close below 1,138 will test key supports at 1,127/1,117/1,111/1,101/1,089/1,078/1,063/1,044 levels respectively.

In addition, South Korea’s Kospi was trading around 1.14 percent lower at 1,984.54 points.

We prefer to go long on USD/KRW only above 1,148, stop loss 1,138 and target 1,162.

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**InstaForex Gertrude** · 14-11-16, 04:19

Japan GDP Jumps 2.2% On Year In Q3

Japan's gross domestic product spiked 2.2 percent on year in the third quarter of 2016, the Cabinet Office said in Monday's preliminary report.

That was well above forecasts for a gain of 0.8 percent following the 0.7 percent increase in the three months prior.

On a quarterly basis, GDP expanded 0.5 percent - also topping expectations for 0.2 percent, which would have been unchanged from Q2.

Nominal GDP was up 0.2 percent versus forecasts for a decline of 0.1 percent following the 0.3 percent gain in the previous three months.

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**InstaForex Gertrude** · 21-11-16, 03:52

Japan Has Y496.174 Billion Trade Surplus

Japan had a merchandise trade surplus of 496.174 billion yen in October, the Ministry of Finance said on Monday.

That was shy of expectations for a surplus of 610.0 billion following the downwardly revised 497.6 billion yen deficit in September (originally 498.3 billion).

Exports were down 10.3 percent on year, missing forecasts for a fall of 8.5 percent following the 6.9 percent decline in the previous month.

Imports sank an annual 16.5 percent versus expectations for a decline of 16.1 percent after sliding 16.3 percent a month earlier.

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**InstaForex Gertrude** · 21-11-16, 05:59

Asia-Pacific Summit Calls for Free Trade

The leaders of the 21-Asia Pacific nation called for the resistance against protectionism amidst indications of raised free-trade speculation, emphasized by Donald Trump's win in the U.S. presidential election. The Asia Pacific Economic Cooperation forum also ended with a joint pledge to work on a new free trade agreement which will include all 21 members despite the political climate.

APEC has mentioned the "rising skepticism over trade" in between the uneven recovery since the financial crisis and stated that "the benefits of trade and open markets need to be communicated to the wider public more effectively, emphasizing how trade promotes innovation, employment and higher living standards." U.S. President Barack Obama said that one of the ways to address income inequality and to produce jobs is by coming up with a trade policy and agreements like the Trans-Pacific Partnership pact that can raise exports to the Pacific rim countries.

The statement of APEC has also mentioned that the members will conform to the carbon reduction goals to focus on climate change, a concern which they called a threat to food production and food security.

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**InstaForex Gertrude** · 22-11-16, 04:25

Fxwirepro: Usd/sgd Rejects Key Resistance at 1.4289, Short Term Trend Reversal Likely

USD/SGD is currently trading around 1.4218 marks.
It made intraday high at 1.4243 and low at 1.4201 levels.
Intraday bias remains bearish till the time pair holds key resistance at 1.4289 marks.
A sustained close above 1.4289 will test key resistances at 1.4336, 1.4443 and 1.4481 levels respectively.
Alternatively, a consistent close below 1.4216 will drag the parity down towards key supports at 1.4128/1.4046/1.3972/1.3819/1.3775/1.3704/1.3646/1.3587/1.3510/1.3462/1.3391/1.3347/1.3313/1.3302/ 1.3271 levels.
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 correction only.
We prefer to go short on USD/SGD around 1.4225 with stop loss at 1.4289 and target of 1.4132.

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**InstaForex Gertrude** · 01-12-16, 06:43

Oil Surges as OPEC Strikes Production Cut Deal

OPEC members managed to reach a deal to cut oil output, causing crude prices to jump more than 8% after months of struggling with declines due to market uncertainty regarding the capability of the group to reach an agreement.

The deal was made possible when Saudi Arabia and Iran, whose disputes blocked the deal which looked to end the oil glut persisting in the market, reached a compromise. Iran was allowed to raise its production, while Saudi Arabia conceded to take the lion's share of the cuts.

The oil producer cartel announced that it would reduce production by 1.2 million barrels per day from its current level of 33.6 million bpd beginning January 2017. It also expects producers who are non-OPEC members, including Russia, to join the cuts adding up to 600, 000 bpd.

The cuts were bigger than anticipated and equals around 1% of total global production. Oil prices soared and shares of oil companies surged more than 10% after the agreement was confirmed.

U.S. crude rose $4.21 or 9.3% and traded at $49.44 per barrel. Meanwhile, global benchmark Brent crude rose $4.09 or 8.8% and settled at $50.47.

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**InstaForex Gertrude** · 06-12-16, 04:15

Australia Q3 Current Account Deficit A$11.358 Billion

Australia's seasonally adjusted current account deficit narrowed to A$11.358 billion in the third quarter of 2016, the Australian Bureau of Statistics said on Tuesday - owing to higher export commodity prices.

That follows the A$15.943 billion shortfall in the three months prior.

The balance on goods and services marked a deficit of A$4.682 billion following the A$7.381 billion shortfall in Q2.

Net exports of GDP eased 0.2 percent, unchanged from the previous quarter. The net goods and services surplus fell A$871 million (61 percent) to A$561 million.

Exports of goods and services climbed A$2.860 billion (4 percent) and imports of goods and services gained A$162 million. The primary income deficit fell A$1.946 billion (24 percent).

Australia's net international investment position was a liability of A$1,043.3 billion at 30 September 2016, increasing 1 percent on the revised 30 June 2016 position of A$1,037.9 billion.

Australia's net foreign debt liabilities increased A$0.8 billion to a net liability position of A$1,048.5 billion.

Australia's net foreign equity assets tumbled A$4.6 billion (47 percent) to a net asset position of A$5.2 billion.

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**InstaForex Gertrude** · 15-12-16, 06:25

GM, Ford Shares Tumble After Report China Will Penalize Unnamed U.S. Carmaker

Shares of U.S. automakers stumbled after Zhang Handong, a senior Chinese state planning official, cautioned that Beijing could slap penalties on an unnamed U.S. carmaker over price-fixing.

The warning, which was delivered via the China Daily newspaper, came in the heels of U.S. President-elect Donald Trump's remarks questioning whether America should standby its commitment to the “One China” policy.

Chinese authorities have been probing and reviewing the pricing practices of carmakers ahead of Trump's remarks, sources stated.

Trump's controversial remarks which have broken diplomatic protocols have shaken U.S. corporations who are dependent on the steady U.S.-sino relations. A spokesperson for Trump's transition team said they are aware of the report but stated that it would be premature to respond.

GM shares lost 2.2% while Ford fell 1.0% following the report's publication. In a statement, GM did not confirm if it was being investigated by the Chinese government. Meanwhile, Ford's Asia-Pacific business said the firm was not knowledgeable of the issue.

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**InstaForex Gertrude** · 11-01-17, 04:43

Fxwirepro: Singapore Dollar Marginally Lower in Early Hours of Asia, Bias Remains Neutral

USD/SGD is currently trading around 1.4370 marks.

It made intraday high at 1.4373 and low at 1.4355 levels.

Intraday bias remains neutral for the moment.

A daily close above 1.4361 will test key resistances at 1.4392, 1.4437, 1.4506, 1.4568, 1.4686 and 1.4851 levels respectively.

Alternatively, a consistent close below 1.4361 will drag the parity down towards key supports at 1.4317/1.4269/1.4219/1.4150/1.4046/1.3972/1.3819/1.3775/1.3704/1.3646 levels respectively.

Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. We prefer to take long position in USD/SGD only above 1.4383, stop loss 1.4317 and target of 1.4500.

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**InstaForex Gertrude** · 13-01-17, 06:33

US court renews battle over iPhone apps monopoly

Apple Inc. is facing a renewed battle claiming it attempted to dominate the market for iPhone applications between 2007 and 2013.

On Thursday, a San Francisco-based appeals court in rekindled the planned class-action suit following a lower federal court judge rejected it. The panel stipulated the judge committed a mistake in stating the consumers hold insufficient standing to file a case as direct buyers of apps.

A spokesperson for the tech giant refused to shed light on the court's verdict. Initially lodged in 2011, consumers argued Apple breached the US antitrust legislation by obligating iPhone apps to be sold at the App Store and restricting independent app developers from advertising the software outside the platform.

Plaintiffs' lawyer Mark Rifkin said million of customers should manage to regain most of the company's 30% cut from sales in the app store.

Although it has not yet secure a class-action status, Rifkin said they may attempt to expand the scope of the lawsuit to include those who have purchase iPhone apps to the present.

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**InstaForex Gertrude** · 27-01-17, 06:44

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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**InstaForex Gertrude** · 30-01-17, 05:42

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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**InstaForex Gertrude** · 02-02-17, 04:30

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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**InstaForex Gertrude** · 03-02-17, 06:49

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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**InstaForex Gertrude** · 15-02-17, 04:29

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.

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**InstaForex Gertrude** · 20-02-17, 04:46

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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**InstaForex Gertrude** · 28-02-17, 04:30

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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