Forex News from InstaForex

**InstaForex Gertrude** · 22-03-17, 05:42

Gold Prices Steady as Stocks Decline on Trump Agenda Concerns

Gold prices held strong, near 3-week peaks it notched the previous session, bolstered by the dollar's weakness while Wall Street tumbled on doubts over U.S. President Donald Trump's economic policy.

Spot gold edged up 0.1 percent at $1,245.21 an ounce, it reached its strongest since March 2 at $1,247.60. U.S. gold futures settled 0.1 percent lower at $1,245.60. Holdings of SPDR Gold Trust increased by 0.50 percent to 834.40 tonnes from 830.25 on Monday.

Russia's biggest gold producer, Polyus, has finally agreed to sell it 82.34 percent stake in a joint venture with Polymetal, which holds rights to develop the Nezhdaninskoye gold deposit. Hong Kong's net gold exports to Switzerland reached its highest in February since records started five years ago, according to the Swiss customs bureau. Overall shipments from the territory more than doubled to a three-month peak.

Intercontinental Exchange (ICE) delayed the launch of clearing for London's benchmark gold price since all of the participants in the auction remain unprepared, according to two sources familiar with the topic.

News are provided by InstaForex

**InstaForex Gertrude** · 23-03-17, 03:33

Fxwirepro: Taiwanese Dollar Trades Marginally Higher ahead of Taiwan’s Interest Rate, Industrial Production Data

USD/TWD is currently trading around 30.45 marks.

It made intraday high at 30.51 and low at 30.39 marks.

Intraday bias remains neutral till the time pair holds key resistance at 30.57 marks. A daily close above 30.47 will drag the parity up towards key resistances around 30.57, 30.72, 30.90, 31.02, 31.15, 31.26, 31.78, 31.98, 32.12, 32.25, 32.43 and 32.63 marks respectively.

On the other side, key support levels are seen at 30.35, 30.24 and 30.05 marks respectively.

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

Taiwan will release industrial production data at 0800 GMT and interest rate decision at 0830 GMT.

We prefer to take long position in USD/TWD only above 30.57, stop loss at 30.35 and target of 30.97.

News are provided by InstaForex

**InstaForex Gertrude** · 27-03-17, 04:47

HNA Group to Buy Stake in Old Mutual U.S. Unit

Chinese travel-to-financial services conglomerate HNA Group has agreed to purchase a 25 percent stake in Old Mutual Plc's U.S. asset management unit for around $445 million. Old Mutual will then trim its stake in OM Asset Management to 26 percent, lower from 51 percent.

The financial services conglomerate is selling its holdings in OMAM to HNA Group in two tranches, according to a statement from Old Mutual. The first, which consists of 9.95 percent at $15.30 a share, will be completed within 30 days while the following 15 percent stake at $15.75 will take place in the second half, the UK-based company said. The Hainan-based conglomerate has invested in financial services as part of its effort to expand its portfolio beyond tourism and aviation. The stake is the latest in HNA's $30 billion haul of deals since 2016.

Old Mutual has received several offers to purchase a part of its stake in OMAM, which includes TPG and Advent. HNA Group is also leading a deal to procure Manhattan's 245 Park Ave. for $2.21 billion, according to two people with knowledge of the talks.

News are provided by InstaForex

**InstaForex Gertrude** · 29-03-17, 03:43

Japan Retail Sales Gain 0.2% On Month In February

Retail sales in Japan were up a seasonally adjusted 0.2 percent on month in February, the Ministry of Economy, Trade and Industry said on Wednesday.

That missed forecasts for 0.3 percent but was unchanged from the January reading following a downward revision from 0.5 percent.

On a yearly basis, retail sales added just 0.1 percent - again shy of expectations for 0.7 percent and down from 1.0 percent in the previous month.

Sales from large retailers sank an annual 2.7 percent versus forecasts for a fall of 1.8 percent after sliding 1.1 percent a month earlier.

News are provided by InstaForex

**InstaForex Gertrude** · 30-03-17, 04:16

Wall Street Finished Mostly Higher as Brexit Process Eyed

U.S. equities ended mostly higher, as energy led gains, while investors priced in recent economic data and the beginning of the U.K.'s exit from the European Union. Strength in the energy and consumer sectors counterbalanced losses in financial shares while investors also looked ahead to first-quarter earnings season.

The Dow Jones industrial average slipped 0.2 percent at 20,659.32, as UnitedHealth led losses while Chevron was the top gainer. The S&P 500 climbed 0.11 percent at 2,361.13, with energy leading five sectors up while financials lagged behind. The Nasdaq composite advanced 0.38 percent at 5,897.55.

The energy sector was up 1.2 percent after Energy Information Administration data revealed a smaller-than-expected crude inventory build. The consumer discretionary sector climbed 0.6 percent, with retailers like Kohl's and Nordstrom soaring. Shares of Amazon.com gained 2.1 percent to notch an all-time peak, providing the largest lift to the S&P 500 and Nasdaq. Financial shares retreated 0.5 percent a day after leading the rally.

Among stocks active on corporate news, Vertex Pharmaceuticals surged 20.5 percent after its cystic fibrosis treatment was a success in a study. The stocks lifted the S&P and helped propel the Nasdaq Biotechnology index to climb 0.9 percent.

News are provided by InstaForex

**InstaForex Gertrude** · 30-03-17, 04:50

Fxwirepro: Usd/thb Rejects Key Resistance at 34.55 After Bot Kept Interest Rate Steady

USD/THB is currently trading around 34.48 marks.

It made intraday high at 34.49 and low at 34.41 marks.

Intraday bias remains neutral till the time pair holds key resistance at 34.55 mark. On the top side, key resistances are seen at 34.55, 34.61, 34.72, 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 34.41 will drag the parity down towards key supports around 34.32, 34.20 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. Current upside movement is short term trend correction only.

We prefer to take short position in USD/THB only below 34.41, stop loss at 34.55 and target of 34.32.

News are provided by InstaForex

**InstaForex Gertrude** · 31-03-17, 04:05

Dudley: Fed Rate Hikes Suitable to Counter Overheating Risk

Interest rate rises are appropriate to curb the threat of overheating, according to a Federal Reserve official.

New York Fed President William Dudley said Thursday it deems suitable to cut down on monetary policy accommodation gradually to lower the peril of the economy overhearing as well as avert a substantial inflation overshoot in the medium-term.

He noted the federal funds rate are still unusually low even after the Fed increased rates this month.

Noting significant uncertainties and risks overseas, the Fed official said the economic view abroad seems to improve and the dangers are largely lower than before.

Dudley also said the American economy has continued to grow moderately above its attainable long-term rate. He added inflation and growth threats are off to the upside.

News are provided by InstaForex

**InstaForex Gertrude** · 03-04-17, 04:21

Australia Retail Sales Slip 0.1% In February

The total value of retail sales in Australia was down a seasonally adjusted 0.1 percent on month in February, the Australian Bureau of Statistics said on Monday - coming in at A$25.691 billion.

That missed forecasts for an increase of 0.3 percent following the 0.4 percent gain in January.

By category, food retailing was up 0.3 percent, followed by cafes, restaurants and takeaway food services (0.1 percent), and other retailing (0.1 percent).

Clothing, footwear and personal accessory retailing was unchanged (0.0 percent). Household goods retailing (-0.1 percent), and Department Stores (-0.1 percent) were down.

News are provided by InstaForex

**InstaForex Gertrude** · 03-04-17, 05:38

Gold Prices Steady, Bolstered by Lacklustre U.S. Data

Gold prices were steady after posting their best quarter in a year, buoyed by tepid economic data from the U.S. and dovish comments from Federal Reserve officials on Friday.

Spot gold was mostly flat at $1,2480.50 an ounce while U.S. gold futures settled at $1,251. Spot gold touched a quarterly gain of nearly 8.4 percent on Friday, posting its best quarter in a year.

The U.S. mint sold 21,000 ounces of American Eagle gold coins in March, lower by 23.6 percent from the month earlier, according to new data. The demand for the precious metal in India increased this week as a result of a festival and as local prices adjusted to an appreciating rupee, while higher prices held demand elsewhere in Asia.

Hedge funds and money managers increased their net long position in COMEX gold for the second consecutive week in the week to March 28, and raised it slightly in silver, according to U.S. Commodity Futures Trading Commission data on Friday.

News are provided by InstaForex

**InstaForex Gertrude** · 04-04-17, 02:40

South Korea March Inflation +0.3% On Month

Consumer prices in South Korea were up 0.3 percent on month in March, Statistics Korea said on Tuesday - in line with expectations and unchanged from the previous month's reading.

On a yearly basis, inflation jumped 2.2 percent - exceeding expectations for 1.8 percent and up from 1.9 percent in the previous month.

Core CPI, which excludes volatile food prices, gained 0.2 percent on month and 1.4 percent on year.

That follows the 0.2 percent monthly increase and the 1.5 percent yearly gain in the previous month.

News are provided by InstaForex

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

Fed Official Stands Pat on Two More Rate Hikes this 2017

An official reiterated the Federal Reserve should increase rates for at least two times this 2017 in order to avert moving behind the curve or hastening its toughening plans.

Philadelphia Fed President Patrick Harker noted Monday he still presumes it is the sound judgment, adding the rate hike tempo is slowly and is conforming with expectations.

Last month, the Fed escalated interest rates again following three months, nodding to stable jobs expansion and cues the inflation may be increasing.

News are provided by InstaForex

**InstaForex Gertrude** · 05-04-17, 02:47

UK Shop Prices Slide 0.8% In March - BRC

Shop prices in the United Kingdom were down 0.8 percent on year in March, the British Retail Consortium said on Wednesday.

That was in line with expectations following the 1.0 percent decline in February.

Food prices were up 1 percent on year in March, while non-food prices were down 2.0 percent.

In all, non-food prices have been mired in deflation for four years.

News are provided by InstaForex

**InstaForex Gertrude** · 06-04-17, 03:54

Hong Kong Business PMI Climbs To 49.9 - Nikkei

The private sector in Hong Kong continued to contract in March, albeit barely, the latest survey from Nikkei revealed on Thursday with a PMI score of 49.9.

That's up from 49.6 in February, although it remains below the boom-or-bust line of 50 that separates expansion from contraction.

Individually, output expanded for the first time in nearly two years, although new orders continued to decline.

Also, firms cut prices despite ongoing cost inflation.

News are provided by InstaForex

**InstaForex Gertrude** · 07-04-17, 03:52

Australia Construction Sector Slows In March - AiG

The construction sector in Australia continued to expand in March, although at a slower pace, the latest survey from the Australian Industry Group showed on Friday with a Performance of Construction Index score of 51.2.

That's down from 53.1 in February, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

Individually, the slowdown was attributed to softness in apartment, commercial and building activity - although house building picked up steam.

News are provided by InstaForex

**InstaForex Gertrude** · 07-04-17, 04:21

Wall Street Slightly Higher, Investors Focus on Trump-Xi Meeting

U.S. equities finished off session peaks after comments about North Korea while investors focused on upcoming talks between U.S. President Donald Trump and Chinese President Xi Jinping. Trump said he is willing to act alone on North Korea if China does not step up.

The Dow Jones industrial average edged up 0.07 percent at 20,662.95, as Caterpillar led gains while Procter & Gamble was the top decliner. The S&P 500 added 0.19 percent at 2,357.49, as energy led seven sectors up while telecommunications lagged behind. The Nasdaq composite climbed 0.25 percent at 5,878.95. The three major indexes were nearly 0.5 percent higher prior to Trump's comments, which were done as he braced for the key meeting with the Chinese president.

Four of the 11 major S&P sectors closed lower. The energy index was up 0.8 percent as oil prices increased to near one-month peaks. Comcast Corp gave the largest boost to the S&P with its 2.1 percent advance to $38.13 following its announcement of a wireless service.

Investors are cautious ahead of the corporate earnings season next week due to lofty valuations. The S&P 500 index is trading at around 19 times ahead earnings estimates, above its long-term average of 15.

News are provided by InstaForex

**InstaForex Gertrude** · 10-04-17, 05:23

China Moves to Avoid Trade War with America

China will offer concessions aimed at avoiding a trade war with the United States, according to American and Chinese officials engaged in negotiations between the two governments.

Chinese leader Xi Jinping and US President Donald Trump met last week at the latter's beach resort in Florida. Officials said both leaders agreed they need swift trade talks to produce results in 100 days.

Chinese officials said the Asian country is willing to escalate investment ceilings in the bilateral investment treaty, as well as lift a ban on US beef imports and purchase additional grains and other agricultural products.

Trump has not yet divulged if he seeks to push through with the deal, which American mediators hoped would resolve China market access issues in various industries.

News are provided by InstaForex

**InstaForex Gertrude** · 12-04-17, 03:25

Wall Street Retreats as Geopolitical Concerns Persist

U.S. equities dropped as investors remained worried about geopolitical developments, which eventually pushed safe-havens higher. Adding to the sour mood, North Korea state media warned of a nuclear attack on the United States once provoked, as a U.S. Navy strike group moved towards the western Pacific.

The Dow Jones industrial average slipped 0.03 percent to 20,651, with Apple leading losses while McDonald's was the best performer. The S&P 500 shed 0.14 percent to 2,353, as technology led seven sectors down while real estate was the top gainer. The Nasdaq composite tumbled 0.24 percent to 5,886.

The CBOE Volatility Index (VIX), considered the best gauge of fear in the market, is up more than seven percent at 15.14. The index has traded over ten percent higher earlier in the session. Investors are counting on strong corporate earnings to help justify pricey valuations.

The financial sector fell 0.3 percent and the technology dropped 0.4 percent. Among shares active on corporate news, United Continental slipped 1.1 percent following a worldwide backlash against the airline as a passenger was reportedly pulled off of one of its flights. Late in the trading session, its chief executive issued an apology.

News are provided by InstaForex

**InstaForex Gertrude** · 12-04-17, 05:44

Fxwirepro: Eur/krw Hovers Around Key Resistance at 1,218 Mark, Stay Bullish

EUR/KRW is currently trading around 1,217 mark.

Pair made intraday high at 1,218 and low at 1,212 levels.

Intraday bias remains bullish till the time pair holds key support at 1,208 mark.

A daily close below 1,212 will drag the parity down towards key supports around 1,208, 1.200, 1,189, 1,178, 1,163 and 1,154 marks respectively.

Alternatively, a sustained close above 1,212 will take the parity higher towards key resistances around 1,218, 1,228, 1,233, 1,242 and 1,252marks respectively.

Seoul shares open up 0.20 pct at 2128.17.

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 March unemployment rate decrease to 3.7 % vs previous 4.0 %.

We prefer to take long position in EUR/KRW around 1,215, stop loss at 1,208 and target of 1,228.

News are provided by InstaForex

**InstaForex Gertrude** · 13-04-17, 05:40

Fxwirepro: Chinese Yuan Strengthens in Early Asia on Robust Trade Balance Data

USD/CNY is currently trading around 6.8744 marks.

It made intraday high at 6.8889 and low at 6.8729 levels.

Intraday bias remains bearish till the time pair holds key resistance at 6.90 mark.

A sustained close above 6.8914 marks will test key resistances at 6.9037, 6.9146, 6.9204, 6.9336, 6.9496, 6.9615, 6.9778 and 6.9883 marks respectively.

Alternatively, a daily close below 6.8914 will drag the parity down towards key supports at 6.8683, 6.8550, 6.8465, 6.8333, 6.8298, 6.8090 and 6.7769 marks respectively.

PBOC sets Yuan mid-point at 6.8651/dollar vs last close 6.8930.

China’s Q1 trade balance +454.94 bln yuan.

China’s Q1 yuan-denominated exports +14.8 pct y/y.

China’s Q1 yuan-denominated imports +31.1 pct y/y.

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.

News are provided by InstaForex

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

Fxwirepro: South Korean Won Marginally Lower After Trade Balance Data

EUR/KRW is currently trading around 1,204 mark.

Pair made intraday high at 1,204 and low at 1,201 levels.

Intraday bias remains neutral till the time pair holds key support at 1,203 mark.

A daily close below 1,203 will drag the parity down towards key supports around 1.201, 1,194, 1,189, 1,178, 1,163 and 1,154 marks respectively.

Alternatively, a sustained close above 1,203 will take the parity higher towards key resistances around 1,207, 1,211, 1,218, 1,228, 1,233, 1,242 and 1,252marks respectively. Seoul shares open up 0.28 pct at 2140.87.

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 March export growth revised decrease to 13.6 % vs previous 13.7 %.

South Korea’s March import growth revised increase to 27.7 % vs previous 26.9 %.

South Korea’s March trade balance revised decrease to 6.27 bln $ vs previous 6.60 bln $.

We prefer to take long position in EUR/KRW around 1,203, stop loss at 1,200 and target of 1,208/1,211/1,218.

News are provided by InstaForex