Thread: Forex News from InstaForex

Asian Markets Rally on the Back of Higher Oil Prices, Gold Hovers Around $1230





Asian markets start the day sharply higher after oil futures rebounded overnight. In addition a positive close on Wall Street overnight also helped shares in Asia on Tuesday morning. The USD/JPY was trading 0.28% higher at 109.11 on Tuesday morning in Tokyo, the strongest since Friday, having closed in New York on Monday at 108.80. On the other side, gold finds support around $1230 marks. Japan's Nikkei 225 index spiked 3.26% higher to 16,806.34 points shortly after the open in Tokyo, while the broader Topix index started the day 2.99% higher at 1,359.76 points. In Korea markets also began on a higher note, with the Kospi index climbing 0.47% to 2,010.80 points. Today South Korea's central bank left the policy rate at a record-low 1.5% on Tuesday. Hong Kong's Hang Seng index rose 0.60% to 21,286.47 on Tuesday, while the Shanghai Composite gained 0.58% to trade at 3,051.19 points. Australia's S&P/ASX 200 stock index rallied 0.97% to 5,186.60 points early on in Sydney, the highest level since January. New Zealand's S&P/NZX 50 equity index was trading 0.07% higher at 6,855.76 points after midday in Wellington.


News are provided byInstaForex.

Fxwirepro: Japanese Yen Gains in Early Asia on Kuroda’s Comments





USD/JPY is currently trading around 109.11 marks. It made intraday high at 109.31 and low at 109.04 levels. Japan's trade surplus expanded from ¥242.8 billion in February to ¥775.0 billion last month, the highest since February 2011 but lower than the market forecast of a ¥834.6 billion surplus. In addition BOJ Kuroda said that, “He will scrutinise risks to economy, prices and won't hesitate taking more easing steps if needed to hit price target.” He added, “BOJ added negative rate policy to QQE to achieve inflation target at earliest date possible.” Intraday bias remains bearish till the time pair holds key resistance at 109.48 marks. A daily close below key support 108.68 will take the parity down towards 108.18, 107.43 and 105.72 levels. On the other side, a sustained break above 109.48 will take the parity towards 111.30/112.60 levels. On the top side, initial resistance levels are seen at 109.68, 111.30, and 112.60 marks respectively.


News are provided byInstaForex.

Japanese exports slide for six consecutive months as yen surgesJapan's exports declined for sixth straight months last month, attributing it to disappointing demand for electronic parts, sluggish Chinese economic growth, and firmer yen. The Ministry of Finance said exports skidded 6.8% in March from 4.0% slide in February. Year-over-year, exports to the United States slid 5.1%, to Asia 9.7%, and China 7.1%. But exports to the European Union rose 12.1%, its highest since February 2011. The US dollar has erased about 10% versus the yen on speculations the Federal Reserve would slowly raise interest rates, prodding cautions from BOJ policymakers against investors on gliding the currency too swiftly.News are provided byInstaForex.

Usd/cnh Closes up 0.2& 6.4824 in Ny





Pair trade 6.4695-6.4824 offshore SHCOMP index down 2.3% on risk aversion, led by small caps drop


News are provided byInstaForex.

Fxwirepro: Usd/jpy Breaks Key Support at 109.48, Japan’s Flash Manufacturing Pmi Data Eye





USD/JPY is currently trading around 109.38 marks.
It made intraday high at 109.49 and low at 109.27 levels.
Intraday bias remains neutral till the time pair holds key support at 109.48 marks.
A daily close below key support 109.48 will take the parity down towards 108.68, 107.86 and 105.72 levels.
On the other side, a sustained close above 109.89 will take the parity up towards 111.30/112.60 levels.
On the top side, initial resistance levels are seen at 109.88, 111.30, and 112.60 marks respectively.
Japan will release flash manufacturing PMI data at 0200 GMT. Market anticipates reading around 49.6 m/m vs 49.1 m/m previous release.


News are provided byInstaForex.

Japan manufacturing hits lowest since 2013 on recent quakes





Japan's manufacturing sector tumbled the most since 2013 due to recent earthquakes that struck the country, based on official figures. Earlier this month, two major quakes hit Kyushu island, disrupting activity throughout the area. Exporters are also contending with a stronger Japanese yen. Markit reported the manufacturing purchasing managers index declined to 48 in April from 49.1 in March, the lowest since January 2013.


News are provided byInstaForex.

Mitsubishi Motors keeps sustaining losses following rigged pollution data





Mitsubishi Motors Corp. shares continued suffering losses Monday as the automaker previously admitted manipulating fuel efficiency tests. Shares slid by around 2.6% following it sustained two-digit declines in the previous week. The Japanese automaker is scheduled to report annual results Wednesday despite reports it will postpone its release.


News are provided byInstaForex.

Fxwirepro: Kiwi Rises Sharply Against Major Peers As Rbnz Stands Pat





AUD/NZD is trading around 1.0987 marks.
Pair made intraday high at 1.1064 and low at 1.0948 marks.
Today RBNZ left interest rates on hold after cutting the OCR to a record-low 2.25% just last month.
Intraday bias remains bearish till the time pair holds immediate resistance at 1.1062 marks.
A daily close below 1.1062 will take the parity down towards 1.0934 and 1.0890 marks respectively.
On the other side, a sustained close above 1.1062 will drag the parity higher towards 1.1123/1.1298/1.1317/1.1352/1.1590 levels.


We prefer to take short position in AUD/NZD around 1.1025, stop loss 1.1062 and target 1.0890 marks.


News are provided byInstaForex.

BOJ retains monetary stimulus to evaluate impact of negative rates





Citing the need to evaluate the extent of negative interest rates, the Bank of Japan decided against bolstering monetary stimulus. Policymakers voted to retain the 0.1% negative rate on parts of deposits kept at the BOJ, the ¥80 trillion ($715 billion) goal for beefing up monetary base, and expand the program for purchasing more perilous assets. The BOJ also adjusted the timetable for hitting the 2% inflation goal, the fourth postponement in around a year. Market players will now turn their attention to Japanese Prime Minister Shinzo Abe, who is awaited whether to postpone sales tax increase in April 2017.


News are provided byInstaForex.

Moody's: Mexico's A3 Rating underpinned by Structural Reforms, Fiscal Challenges Undermine Outlook





A large and diverse economy, a high degree of integration with the US, as well as anticipated growth prospects associated with structural reforms support the Government of Mexico's A3 rating, Moody's Investors Service says in an analysis of the sovereign. However, the outlook was revised to negative from stable in March and downward pressure to the rating could occur from stalled fiscal consolidation and the potential crystallization of contingent liabilities via further support to Petroleos Mexicanos (PEMEX, Baa3 negative). Mexico's A3 rating incorporates Moody's expectation that recent structural reforms would improve the country's medium-term potential economic GDP growth to a 3%-3.5% range versus a pre-reform 2%-3% level. "However, a combination of the oil price shock and declining oil production at PEMEX, along with slower-than-expected growth have undermined the economic outlook," Jaime Reusche, a Moody's Vice President and Senior Analyst says. As a result, Moody's has forecast moderate growth of 2.5% for 2016 and 2017. While curtailed oil production at PEMEX has weighed on growth, recent energy sector reform has attracted private investment, albeit with mixed results amid low oil prices, curbing expectations for investment up to 2017 and beyond. Challenges facing the sovereign include reduced fiscal revenues as growth remains subdued and historically low oil prices. Moody's forecasts overall federal government revenues will decrease to 18.5% of GDP in 2016 from 19.3% in 2015. "Despite the drop, the authorities have begun implementing expenditure measures to reduce the federal government deficit from 2.8% of GDP in 2015 to 2.5% in 2016," Reusche says. Moody's credit analysis on Mexico does not constitute a rating action.


News are provided byInstaForex.