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Usd/sgd Flat in Ny Trading, ahead of 1.3550USD/SGD found solid resistance overnight, closes in NY at 1.3527 Pair rose 0.4% on Thursday MAS policy review meeting to be held on Apr 14, no easing forecasted.News are provided byInstaForex.

Japan current account surplus rallies to 11-month peak



Japan's current account surplus recuperated in February, touching its highest in nearly a year, as profits from investments and loans almost doubled. Official figures showed the current account was at ¥2.434 trillion ($2.24 billion) from ¥520.8 billion ($80.39 billion) in January. Exports were at ¥5.643 trillion month-on-month, up 5.3%. Imports were at ¥5.218 trillion, down 9.5%. The surplus expanded to ¥1.733 trillion in February, the highest since March 2015. Trade balance recouped to ¥425.2 billion surplus.

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Fxwirepro: Japanese Yen Strengthens on the Back of Higher Than expected Core Machinery Orders





USD/JPY is currently trading around 107.98 marks.
It made intraday high at 108.32 and low at 107.87 levels. Today Japan released core machinery orders data with positive numbers.
Private sector machinery orders excluding ships and utility items fell a seasonally-adjusted 9.2% month-on-month in February, according to data released by Japan's Cabinet Office on Monday, after surging 15% in January. Analysts expected 11.9% decline in machinery orders in February.
A daily close below 107.68 will take the parity down towards 107.43, 107.09 and 105.72 levels.
On the top side, initial resistance levels are seen at 108.05, 109.68, 111.23, and 112.60 marks.


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Obama to hold meeting with Yellen Monday





Seeking to talk over economic and regulatory matters, President Barack Obama will meet with Federal Reserve Chair Janet Yellen privately on Monday. The meeting emerges as the Fed head is experiencing difficulties in fine-tuning her bid to escalate interest rates in the wake of global economic degeneration. Obama and Yellen are awaited to discuss rules encompassing executive pay for top officials in the financial industry and whether the country's largest banks need to act more to remove “too big to fail” label without another taxpayer bailout. They are also expected to look into Wall Street revamp and long-term economic view.


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Fxwirepro: Usd/jpy Hovers Around Key Resistance at 108.04, Intraday Bias Remains Slightly Bullish





USD/JPY is currently trading around 108.11 marks.
It made intraday high at 108.26 and low at 107.87 levels.
Today Japan released bank lending data with negative numbers at 2.0% m/m vs 2.2% previous release.
Pair was seen trading at its weakest level in 18 months and touched 107.63 marks.
Intraday bias remains slightly bullish till the time pair holds key support at 107.93 marks.
A daily close below key support will take the parity down towards 107.43, 107.09 and 105.72 levels.
On the top side, initial resistance levels are seen at 108.04, 109.68, 111.23, and 112.60 marks respectively.


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Obama, Yellen evaluate outlook for economic growth





The White House said US President Barack Obama and Federal Reserve Chair Janet Yellen talked over views on US economic growth amidst improvement. White House spokesperson Josh Earnest mentioned the two leaders looked into the overall condition of the jobs market. Obama and Yellen, who met in the Oval Office, evaluated the measures espoused on during the former's term aimed at boosting the industry and safeguarding consumers. Earnest added both are concentrated on searching better opportunities for America's middle class people.


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Saudi oil minister downplays prospect of oil output reduction





Saudi Arabia Oil Minister Ali al-Naimi, during a significant meeting in Doha, Qatar, dwindled hopes for the likelihood of oil producers capping their output. When asked about the matter, al-Naimi simply said people should forget this matter. Investors have previously awaited al-Naimi to discuss an output cap, which might be the first step to attaining a collective slash in reducing oil output.


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Usd/cad Tech Neutral in Asia Trading, Wti down 0.1%





Neutral momentum studies, 5, 10 & 20 daily & weekly MAs trend lower NY 1.2782 low & London 1.2897 high initial support/resistance


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Fitch: Korea Election Result Raises Reform Implementation Risks





The South Korean government will find it more difficult to implement key structural reforms to boost long-term productivity, after the governing party lost in recently held elections, says Fitch Ratings. South Korea's long-term growth prospects face challenges from a series of structural factors. Reforms to rebalance the economy towards domestic demand and to boost productivity will be essential to ensure that potential growth rates do not fall significantly in the next decade. The election on 13 April resulted in the governing Saenuri Party falling to second place in the National Assembly with 122 of 300 seats. This will likely make passage of any potentially contentious legislation, including that pertaining to labour market and services sector reforms, more difficult. The previous parliamentary session, where the governing party held 146 seats, was already marked by political contention, with less than a third of bills introduced being passed. Saenuri hoped to reach the threshold of 180 seats needed to unilaterally pass legislation. Reforming and liberalising labour market regulation have been key planks of the South Korean government's economic policy agenda to boost productivity over the long term and sustain higher rates of economic growth. South Korea has historically benefited from high real GDP growth relative to its 'AA' category peers, but it faces constraints in both the near and long terms. Fitch expects GDP growth to remain below 3% in 2016 owing to lacklustre global demand. Over the longer term, low productivity growth and aging demographics could halve the potential growth rate from around 3% to 1.4% in the 2030s, according to calculations of the Korea Development Institute. Fitch has highlighted that structurally lower GDP growth than presently expected would be credit negative for South Korea, though indications that the economy could boost growth without causing a deterioration in household or public sector balance sheets would be positive. The changes in the National Assembly's composition are not likely to result in any significant changes or reversals in economic policy. The parliamentary elections do not mean a change of government - the next presidential elections are not due until December 2017. The Outlook on South Korea's 'AA-' rating remains Stable, with robust external finances and generally stable macroeconomic performance as key credit strengths.


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Usd/jpy Bounce to 109.16 from Yesterday Low 107.75



USD1.1 bln option expiries 110.00 today, USD 1.847 bln tomorrow
Crude oil bounce post-Doha

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