Forex News from InstaForex

**InstaForex Gertrude** · 01-03-17, 03:00

Myanmar Manufacturing PMI Jumps To 51.9 - Nikkei

The manufacturing sector in Myanmar continued to expand in February, and at a faster rate, the latest survey from Nikkei showed on Wednesday with a manufacturing PMI score of 51.9.

That was up from 51.7 in January, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.

Individually, the growth was spurred by solid growth of output and new work although optimism weakened to a survey-record low.

The exchange rate fluctuations contributed to another steep rise in input costs.

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**InstaForex Gertrude** · 02-03-17, 03:10

Australia Has A$1.302 Billion Trade Surplus

Australia had a seasonally adjusted merchandise trade surplus of A$1.302 billion in January, the Australian Bureau of Statistics said on Thursday.

That was shy of expectations for a surplus of A$3.80 billion and was down from A$3.334 billion in December.

Exports were down 3.0 percent on month to A$31.796, while imports advanced 4.0 percent to A$30.494 billion.

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**InstaForex Gertrude** · 02-03-17, 04:27

Yahoo executives familiar with 2014 hack prior to Verizon deal

Yahoo admitted its senior executives were knowledgeable about a hack by a state-backed attacker in 2014 before it struck a $4.8 billion agreement with Verizon last summer.

Based on a probe by a separate panel, the technology company's senior officials and relevant legal staff were familiar with the incident but did not investigate it to the full extent of what was known by the firm's information security group.

It did not conclude that concealing these details was done intentionally.

Chief Executive Marissa Mayer announced she will relinquish her annual bonus and equity grant to Yahoo employees to compensate for the security breaches that took place in 2013 and 2014.

Yahoo's general counsel Ronald Bell left the company without any payoffs.

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**InstaForex Gertrude** · 03-03-17, 04:40

China Services PMI Falls To 52.6 In February - Caixin

The services sector in China continued to expand in February, although at a slightly slower pace, the latest survey from Caixin showed on Friday with a PMI score of 52.6.

That was down from 53.1 in January, although it remains well above the boom-or-bust line of 50 that separates expansion from contraction.

The composite index also checked in at 52.6, up from 52.2 in the previous month.

Individually, new business picked up, while employment also expanded but at a slower pace.

Inflationary pressures continued to ease, while business sentiment ticked slightly higher.

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**InstaForex Gertrude** · 06-03-17, 03:44

Fxwirepro: Eur/krw Hits Fresh 4-Week High at 1,225 Mark, Faces Strong Resistance at 1,228

EUR/KRW is currently trading around 1,224 mark.

Pair made intraday high at 1,225 and low at 1,219 levels.

Intraday bias remains bullish till the time pair holds key support at 1,221 mark.

A daily close below 1,221 will drag the parity down towards key supports around 1,207, 1,199, 1,191, 1,184, 1,178 and 1,163 marks respectively.

Alternatively, a sustained close above 1,221 will take the parity higher towards key resistances around 1,228, 1,233, 1,242, 1,252, 1,268, 1,272, 1,280, 1,287 and 1,304 marks respectively.

Seoul shares open down 0.27 pct at 2073.20.

South Korea’s February FX reserves increase to 373.91 bln $.

We prefer to take short position in EUR/KRW around 1,225, stop loss at 1,235 and target of 1,205.

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**InstaForex Gertrude** · 06-03-17, 05:12

U.S. Energy Sector Slides in 2017

The energy sector is the stock market's biggest failure so far this year after it showed a stellar performance the previous year, as the rest of 2017 might also be a rough period for investors due to uncertainty. Shares of energy have been weak after surging in mid-December and have been the worst-performing of the S&P 500's 11 stock sectors this year.

Producers of oil have been the weakest among energy sub-industries, due to skepticism regarding the demand outlook as well as the unexpectedly high level of crude and finished product inventories. This year, energy has declined five percent, compared to the six percent increase for the overall S&P 500. However, analysts claim that production firms might be in the best position for gains. Investors have raised their wages on the sector, around $263 million has flowed into U.S.-listed energy mutual and exchange-traded-funds this year through February, according to data from Lipper. The Energy Sector Select SPDR Fund has attracted $400 million of new investment, it said.

Energy surpassed all other sectors in 2016, up by almost 24 percent due to the late-year rally following the election of Donald Trump as U.S. president which fuelled investor hopes for industry-friendly policies. Since the election, refiners have gained over 9.5 percent, while oil producers added less than two percent, the weakest energy sub-sector.

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**InstaForex Gertrude** · 07-03-17, 04:58

Fxwirepro: Aussie Marginally Higher Against Major Peers ahead of Rba’s Cash Rate Decision

AUD/NZD is currently trading around 1.0852 marks.

Pair made intraday high at 1.0856 and low at 1.0829 marks.

Intraday bias remains bullish till the time pair holds immediate support at 1.0779 marks.

A daily close below 1.0838 will take the parity down towards key supports around 1.0779, 1.0713, 1.0670, 1.0616, 1.0594, 1.0552, 1.0516, 1.0460, 1.0412 and 1.0370 marks respectively.

On the other side, a sustained close above 1.0838 will drag the parity higher towards key resistances at 1.0976 (January 2016 high) /1.1062 (30D EMA) levels respectively.

RBA will release cash rate decision at 0330 GMT.

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**InstaForex Gertrude** · 07-03-17, 05:36

Snap Shares Experience First Slide on Analysts’ Downgrade

Following a strong market debut, Snap Inc. fell for the first time and edged down below the opening price of $24 during its first day of public trading after analysts started expressing their stance regarding the firm's true valuation.

The Snapchat-parent prices shares in its IPO which was warmly received by the market, surging by 44% on their first day of trading due to the strong demand. Its dramatic rally continued on Friday, rising further by 11%.

However, by Monday, majority of the seven analysts who are assigned to Snap had a sell recommendation on the stock, while two adviced to hold. Data showed no analyst stamped the stock with a 'buy' rating.

An analyst at Needham & Co. said the shares were overpriced during its IPO and estimated the firm will see a declining trend in earnings and valuation adjustments in the first two years of its public trading, stating that Snap's value was actually at $19 to $23 per share. A Morningstar Inc. analyst said that the company's monetization capabilities are not as strong as its valuation implies, and priced it at $15.

Snap sank 12 percent to trade at $23.77 at the close of New York trading, bringing down its value to around 28 billion.

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**InstaForex Gertrude** · 08-03-17, 05:20

Fxwirepro: South Korean Won Erases Previous Loss Against Euro, Stay Bearish Below 1,211

EUR/KRW is currently trading around 1,212 mark.

Pair made intraday high at 1,214 and low at 1,211 levels.

Intraday bias remains bearish till the time pair holds key resistance at 1,222 mark.

A daily close below 1,213 will drag the parity down towards key supports around 1,206, 1,199, 1,191, 1,184, 1,178 and 1,163 marks respectively.

Alternatively, a sustained close above 1,213 will take the parity higher towards key resistances around 1,222, 1,229, 1,233, 1,242, 1,252, 1,268, 1,272, 1,280, 1,287 and 1,304 marks respectively.

Seoul shares open down 0.09 pct at 2092.27.

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 EUR/KRW only below 1,211, stop loss at 1,222 and target of 1,205/1,199.

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**InstaForex Gertrude** · 09-03-17, 03:50

China Consumer Prices Rise 0.8% In February

Consumer prices in China were up just 0.8 percent on year in February, the National Bureau of Statistics said on Thursday.

That was well shy of forecasts for an increase of 1.7 percent, and down sharply from 2.5 percent in January.

The bureau also said that producers prices spiked an annual 7.8 percent - exceeding forecasts for 7.7 percent and up from 6.9 percent in the previous month.

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**InstaForex Gertrude** · 09-03-17, 05:22

Dow, S&P 500 Extend Declines as Energy Shares Plunge

Wall Street ended mostly lower as investors tackled declining oil prices and assessed the latest employment data. Oil prices plunged over five percent in the aftermath of a much stronger-than-expected increase in U.S. inventories.

The Dow Jones Industrial Average retreated 0.33 percent at 20,855.73, as Caterpillar led losses while Wal-Mart was the top gainer. The S&P 500 dropped 0.23 percent to close at 2,362.98, as energy sectors led seven sectors down while consumer discretionary outperformed. The Nasdaq Composite edged up 0.06 percent to close at 5,837.55.

The energy sector tumbled 2.5 percent, its largest loss since mid-September. Caterpillar was down 2.8 percent following a report from the New York Times which stated that it reviewed a report commissioned by the U.S. government, accusing the company of carrying out tax and accounting fraud. Shares of H&R Block jumped by almost 15 percent for their best day in more than eight years as the firm reported its quarterly results.

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**InstaForex Gertrude** · 10-03-17, 03:41

Fxwirepro: Eur/krw Hovers Around Key Resistance at 1,228 Mark, sustained Close Above Targets 1,242

EUR/KRW is currently trading around 1,226 mark.

Pair made intraday high at 1,227 and low at 1,224 levels.

Intraday bias remains neutral till the time pair holds key resistance at 1,228 mark.

A daily close below 1,225 will drag the parity down towards key supports around 1,214, 1,209, 1,199, 1,191, 1,184, 1,178 and 1,163 marks respectively.

Alternatively, a sustained close above 1,225 will take the parity higher towards key resistances around 1,228, 1,233, 1,242, 1,252, 1,268, 1,272, 1,280, 1,287 and 1,304 marks respectively.

Seoul shares open down 0.11 pct at 2088.67.

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.

South Korea’s January L-money supply growth decrease to 6.8 % vs previous 7.5 %.

We prefer to take short position in EUR/KRW around 1,228, stop loss at 1,242 and target of 1,214/1,209/1,199.

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**InstaForex Gertrude** · 10-03-17, 05:46

AirBnB Clinches $1 Billion in Latest Funding Round

AirBnB has managed to raise over $1 billion investment in its latest funding round, according to sources, which was later confirmed via a filing to the U.S. SEC.

The company managed to raise roughly an additional $450 million as part of its series of funding rounds, making the round almost double its original value during the last fall. According to the filing, the total amount came in at $1, 003, 312, 065.

Since its establishment in 2008, AirBnB has raised over $3 billion. The company was last reported to be raising investment fund at around $30 billion valuation. The most recent funding round brings the company's total valuation to around $31 billion.

AirBnB also swung to profit during the second quarter of 2016, according to sources. The company expects to continue being profitable this year.

Sources also reported that the home-sharing start-up firm has no plans to offer its shares on the stock market in the short-term.

The firm did not provide details on how it would utilize the raised money, but it is seen to further grow its operations globally.

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**InstaForex Gertrude** · 13-03-17, 05:14

Toshiba Tec Rallies on Reported Stake Sale

Toshiba Tec Corp. shares advanced more than 6% in early Asian trading, lifted by a report that Toshiba Corp., its owner company, is mulling to sell shares in the firm. Toshiba Tec shares were last seen trading at 645 yen, rising 5.2% from its finish on Friday.

Toshiba Corp. denounced a Nikkei business daily report that it was eyeing to share shares in the cash register systems maker, as it looks to raise cash for an upcoming $6.3 billion massive writedown for its U.S. nuclear business unit.

The Japanese conglomerate reportedly chose an advisory company to help seek out a buyer for Toshiba tec, Nikkei said. According to the paper, the seen sale of 50.02% stake in the company would be valued around 100 billion yen or $870 million.

Toshiba is currently laying the groundwork for the sale of a majority or the entirety of its stake in its memory chips business, which is currently valued by the company at $13 billion. Earlier this March, the company has also sold all of its shares in its subsidiary Toshiba Machine Co. for $134 million to raise money.

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**InstaForex Gertrude** · 15-03-17, 02:44

Australia New Motor Vehicle Sales Sink 2.7% In February

New motor vehicle sales in Australia were down a seasonally adjusted 2.7 percent on month in February, the Australian Bureau of Statistics said on Wednesday - standing at 94,786.

That follows the 0.6 percent increase in January.

By category, sales for passenger vehicles fell 0.6 percent, while sports utility vehicles were down 0.5 percent and other vehicles shed 0.3 percent.

By region, the largest downward movement was in Tasmania (-2.6 percent), while the biggest gain came in the Northern Territory (0.1 percent).

On a yearly basis, sales dropped 4.1 percent after falling 0.9 percent in the previous month.

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**InstaForex Gertrude** · 16-03-17, 03:31

Australia Unemployment Rate Jumps To 5.9%

The unemployment rate in Australia climbed to a seasonally adjusted 5.9 percent in February, the Australian Bureau of Statistics said on Thursday.

That missed forecasts for 5.7 percent, which would have been unchanged from January.

The Australian economy lost 6,400 jobs last month to 11,998,800 versus expectations for the addition of 16,000 jobs following the gain of 13,700 in January.

Full-time employment increased 27,100 to 8,158,900 and part-time employment decreased 33,500 to 3,840,000.

Unemployment increased 26,000 to 748,100. The number of unemployed persons looking for full-time work increased 10,800 to 523,800 and the number of unemployed persons only looking for part-time work increased 15,100 to 224,300.

The participation rate was 64.6, matching forecasts and unchanged from the previous month.

Monthly hours worked in all jobs decreased 20.5 million hours to 1,661.9 million hours. The labor force underutilization rate increased 0.4 pts to 14.6 percent.

The male labor force underutilization rate increased 0.3 pts to 12.6 percent and the female labor force underutilization rate increased 0.6 pts to 16.8 percent.

News are provided byInstaForex.

**InstaForex Gertrude** · 20-03-17, 02:50

Fxwirepro: South Korean Won falls in Early Asia on the Back of Lower Than expected Ppi Data

EUR/KRW is currently trading around 1,213 mark.

Pair made intraday high at 1,213 and low at 1,208 levels. Intraday bias remains bullish till the time pair holds key support at 1,208 mark.

A daily close below 1,208 will drag the parity down towards key supports around 1,199, 1,191, 1,184, 1,178 and 1,163 marks respectively.

Alternatively, a sustained close above 1,208 will take the parity higher towards key resistances around 1,219, 1,228, 1,233, 1,242, 1,252, 1,268, 1,272, 1,280, 1,287 and 1,304 marks respectively.

Seoul shares open down 0.20 pct at 2160.32.

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

South Korea’s February PPI growth m/m decreases to 0.3 % vs previous 1.4 % (revised from 1.3 %).

South Korea’s February PPI growth y/y increase to 4.2 % vs previous 3.9 % (revised from 3.7 %).

We prefer to take long position in EUR/KRW around 1,210, stop loss at 1,205 and target of 1,219.

News are provided by InstaForex

**InstaForex Gertrude** · 21-03-17, 02:28

Australia House Prices Jump 4.1% In Q4

House prices in Australia advanced 4.1 percent on quarter in the fourth quarter of 2016, the Australian Bureau of Statistics said on Tuesday.

That beat forecasts for a gain of 2.5 percent following the 1.5 percent increase in the third quarter.

On a yearly basis, prices spiked 7.7 percent - again beating estimates for 6.3 percent and up from 3.5 percent in the three months prior.

Melbourne saw the largest through the year at 10.8 percent, followed by Sydney at 10.3 percent.

Attached dwellings prices fell in Perth (1.7 percent), Brisbane (1.3 percent) and Darwin (2.5 percent), while prices rose in all other capital cities.

The total value of Australia's 9.8 million residential dwellings increased A$274.2 billion to A$6.4 trillion.

News are provided by InstaForex

**InstaForex Gertrude** · 21-03-17, 06:08

Snap Jumps as its Bags First ‘Buy’ Rating

Snap shares rose after securing its first 'buy' recommendation from a Wall Street analyst, giving the social media tech company a reprieve from the sell-off it has seen since its market debut.

The $3.4 billion IPO initially received strong demand from investors, with the stock posting dramatic gains during the first two days after its official market debut. However, the stock steadily lost footing as investors concerns regarding the Snapchat owner's high valuation and lack of profitability induced doubts of analysts on Wall Street.

Based on the median recommendations of analysts comprised of three categories: buy, sell and neutral, Snap is currently the worst-rated stock among listed U.S. firms with a market cap of at least $20 billion.

But the stock was given a lift by Crespi, Hardt & Co. analyst James Cakmak, who gave the firm its first-ever “buy" rating and put the price target at $25. Its shares traded up 2.09 percent at $19.96 in midday trading.

In a report, Cakmak said that Snap is perceived as a firm with the potential to speed up its rate of revenue growth by seven fold. It is also projected with a sharp margin trajectory, while its peers have most likely reached their peak already.

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**InstaForex Gertrude** · 22-03-17, 02:23

Japan Has Y813.389 Billion Trade Surplus

Japan had a merchandise trade surplus of 813.389 billion yen in February, the Ministry of Finance said on Wednesday.

That surpassed expectations for 807.2 billion yen following the downwardly revised 1,087.9 billion yen deficit (originally -1,086.9 billion yen) in January.

Exports jumped 11.3 percent on year, beating forecasts for 10.1 percent following the 1.3 percent gain in the previous month.

Imports added an annual 1.2 percent, missing expectations for 1.3 percent and down from 8.5 percent a month earlier.

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