Thread: Forex News from InstaForex

Fxwirepro: Japanese Yen Gains in Early Hours Despite Lower Than expected Bsi Manufacturing Index Data


USD/JPY is currently trading around 106.43 marks.
It made intraday high at 106.84 and low at 106.36 levels.
Intraday bias remains bearish till the time pair holds key resistance at 107.38 marks.
A daily close above 107.38 is required to take the parity higher towards key resistances around 107.90, 110.44, 112.60 (55D EMA) and 113.42 levels respectively.
On the other side, a sustained break below 106.25 will drag the parity down towards key supports at 105.71, 105.45 and 104.55 levels respectively.
Today Japan released BSI manufacturing index with negative numbers at -11.1% q/q vs -7.9% q/q previous release.


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Chinese investment growth abates in May, factory output steady





China's fixed-asset investment and retail sales growth cooled in May, but factory output growth remained stable.
The National Bureau of Statistics said fixed-asset investment growth dropped to 9.


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Fxwirepro: Usd/jpy Hovers Around 106.00 Mark in Early Hours, a Sustain Close Below Targets 105.19





USD/JPY is currently trading around 106.05 marks. It made intraday high at 106.42 and low at 105.93 levels. Intraday bias remains bearish till the time pair holds key resistance at 107.38 marks. A daily close above 107.38 is required to take the parity higher towards key resistances around 107.90, 110.44, 112.60 (55D EMA) and 113.42 levels respectively.
On the other side, a sustained close below 106.00 will drag the parity down towards key supports at 105.19 (October 15, 2014 low) and 104.55 levels respectively.
Today Japan will release revised industrial production data at 0430 GMT. Market expects a rise to 0.4% m/m vs 0.3% m/m previous release.


News are provided byInstaForex.

Venezuela halts two-day work week, mitigates power disbursement





Venezuela alleviated energy distribution, which led to removing a two-day work week for almost 3 million employees in the public sector. Electricity Minister Luis Motta said increasing water supply at the Guri reservoir led to the government's decision. According to officials, the administration implemented the measures in response to drought this year and have helped lower power consumption in the country. But critics reiterated the government should be blamed, saying such moves fail to resolve electricity scarcity since people would simply use appliances in another place.


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Australia Consumer Confidence Slips In June - Westpac





Consumer confidence is Australia was down slightly in June, the latest survey from Westpac Bank showed on Wednesday as its index slipped 1.0 percent to a score of 102.2.


That's a somewhat natural correction after the previous month's spike, which saw an 8.5 percent jump to 103.2 - largely on enthusiasm over a rate cut from the Reserve Bank of Australia.


"Coming after an 8.5 per cent surge in May, the small decline in June mostly represents a consolidation at improved levels," Westpac senior economist Matthew


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Mitsubishi Utilized Inappropriate Mileage Data for Additional Models: Media





Japan's local media reports Mitsubishi Motors Corp. has used inaccurate fuel economy data for supplemental models that are outmoded and intends to divulge the issue soon to Japan's transport ministry. The automaker confessed in April of exaggerating the fuel economy on four of its mini-vehicles. Two models involved were made for Nissan Motor Co. and has stated that their own probing has verified that improper mileage calculations were utilized for nine other models. Asahi newspaper said Mitsubishi Motors forged data for 3 additional models and that the carmaker made hypothetical calculations for the mileage of 10 additional models that are obsolete.


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Fxwirepro: Asx200 Struggles to Break Above 5200, Good to Buy at Dips





Major resistance - 5205 (21 4H MA)
Major Support - 5130 (200 day MA)
ASX200 has recovered till 5198 at the time of writing from the low of 5143 made yesterday .The index has not able break above 5200 and has started to decline from the high made today. It is currently trading at 5170.
Short term trend is slightly bullish as long as support 5130 holds. Any violation below major support will drag the index down till 5075/5000 in the short term.
On the higher side any break above 5205 will take the index to 5250 (55 day EMA)/5300/5337 (21 day MA). It is good to buy at dips around 5160-65 with SL around 5130 for the TP of 5250


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Microsoft Objects to Labor Board Decision on Contract Worker Benefits





Microsoft Corporation has appealed to a federal court to discard a ruling by the U.S. labor board to broaden the duties of companies for contract workers with regards to benefits. The NLRB released a decision in August 2015 that expanded the definition of a joint employer which could oblige more companies to negotiate with and have accountability for workers hired by contractors. Microsoft's brief claimed that the 2015 decision was too expansive and would intimidate Microsoft and others from advising contractors to grant benefits to their employees, as the ruling would make the tech companies a joint employer. A source reported that there were nearly 81,000 temporary and contract employees under Microsoft at one point in 2015.


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Fxwirepro: Usd/jpy Fails to Sustain Below 103.00 Mark, Faces Strong Resistance at 105.19





USD/JPY is currently trading around 104.59 marks. It made intraday high at 104.82 and low at 104.22 levels. Intraday bias remains slightly bullish for the moment. A daily close above 105.19 is required to take the parity higher towards key resistances around 106.12, 107.90, 110.44, 112.60 (55D EMA) and 113.42 levels respectively. Alternatively, a sustained close below 104.00 will drag the parity down towards key supports at 103.54, 102.10 and 101.56 levels respectively. Important to note here that, 20D, 30D and 55D EMA heads down and confirms bearish trend in a daily chart. Current upside movement is short term trend correction only.


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Revlon to Acquire Elizabeth Arden for $870M





Revlon Inc. is set to buy Elizabeth Arden Inc. in an $870 million agreement. The cosmetics maker company is aiming to boost its skincare and fragrance enterprise and expand in the Asia-Pacific market with this acquisition. The equity value of the transaction is $419 million, derived from Elizabeth Arden's outstanding stocks at the beginning of May. This investment comes after Revlon majority stockholder Ron Perelman stated that he would look for strategic options for the company and to improve competition against rivals such as Estee Lauder Cos Inc and L'Oreal SA.


Elizabeth Arden's shares jumped almost 50% to 413.96 in extended trading while Revlon shared slightly rose to $31.30.


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