Thread: Forex News from InstaForex

Boost in Turkey's Lira sends investors running back





After failing to organize a coup, Turkey's Lira surged, reclaiming about a third of its loss as officials plan to limit Brexit's impact on the country by extensive liquidity and heightened support for the currency. The Lire rose by 1.6 percent to 2.9684 after its 4.6 decline on friday. The country is now starting to attract investors who predict a possible outflow from the country and sees potential in its rallying assets. In other news, Japan's yen continues to decline as it slipped 0.6 percent to 105.47 per dollar. US stocks, meanwhile, have advanced as S&P 500 index rose to 0.2 percent.


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Aud/usd falls Below 0.7570, weighed by Nzd/usd





NZD/USD falls 1.15%, weighing on AUD/uSD ahead of RBA minutes AUD/USD briefly fall below 10-day MA at 0.7569
Next supprot at 38.2 fibonacci of 0.7505/.7675 move at 0.7535
RBA minutes out at 0.1:30 GMT


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China to Continue Building on Contested Islands





China's navy chief Admiral Wu Shenli told his counterpart U.S. Chief of Naval Operations Admiral John Richardson during a meeting in Beijing that the communist nation would proceed with construction work on the contested South China Sea islands despite foreign objection, emphasizing China's rejection of the unfavorable ruling from the arbitration tribunal in the Hague.


Admiral Wu's statement on Monday came after the international tribunal court rebuked China's historic and economic claims over the majority of the South China Sea with the release of its July 12 decision, favoring the Philippines who brought the case with a legal victory.


The Chinese navy chief stated that they will not halt their construction activities on Nansha Islands, notwithstanding any nation or individual that express their opposition. He defended the construction as 'justified and lawful' and cautioned that undertakings to pressure China will only have the opposite results, according to reports of Xinhua News Agency.


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Fxwirepro: Usd/krw Struggles to Break Key Resistance at 1142, Buy on Dips





USD/KRW is currently trading around 1140 levels.
It made intraday high at 1143 and low at 1139 levels.
Intraday bias remains bullish till the time pair holds key support at 1130 mark.
A sustained break below 1128(October 2015 low) will tests key supports at 1121/1115/1101/1095/1078/1063 levels respectively.
Alternatively, a daily close above 1142 will drag the parity higher towards key resistances at 1152, 1162, 1176, 1182, 1196, 1201, 1209 (20D EMA) and 1220 (March 03, 2016 high) marks respectively.
In addition, South Korea’s Kospi was trading 0.25% lower at 2,011.08 points.
We prefer to take long position in USD/KRW only above 1142, stop loss 1128 and target 1152/ 1168 marks.


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Startup transactions in global decline





Startup companies supported by venture capital continue to lie low in terms of deals, and are burdened further by economic concerns and increased funding.
Reasons behind this point to larger startups such as Snapchat and Uber Technologies accounted for majority of the funding. CB Insights chief executive also forecast that there would be no improvement in terms of deal activity in the next quarters and that large deals will create an impression that funding levels are healthy.
It was also reported that despite several emerging companies in the second quarter, there would still be more of them that will be acquired at a lower value.


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Fxwirepro: Kiwi Depreciates Against Major Peers As Rbnz Signals more Easing





AUD/NZD is trading around 1.0706 marks.
Pair made intraday high at 1.0731 and low at 1.0628 marks.
Intraday bias remains bullish till the time pair holds key support at 1.0610 marks.
On the top side, a sustained close above 1.0722 will drag the parity higher towards 1.0823/1.0976 (January 2016 high) /1.1062 (30D EMA)/1.1123/1.1298/1.1317 levels respectively.
Alternatively, a sustained break below 1.0611 mark will take the parity down towards key supports around 1.0560, 1.0420, 1.0315(May 05, 2015 low), 1.0261 and 1.0109 marks respectively.
Important to note here that in a daily chart, 20D, 30D and 55D EMA heads down and confirms the bearish trend. Current upside movement is short term trend correction only. RBNZ says a decline in the exchange rate is needed.
RBNZ says outlook for inflation has weakened due to high exchange rate.
RBNZ says likely further policy easing will be required. RSS feed


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Fxwirepro: South Korean Won Opens Onshore Trade at 1,137.5 Per Dollar, Faces Strong Support at 1128





USD/KRW is currently trading around 1134 levels.
It made intraday high at 1136 and low at 1133 levels.
Intraday bias remains bearish till the time pair holds key resistance at 1142 mark.
A sustained break below 1128(October 2015 low) will tests key supports at 1121/1115/1101/1095/1078/1063 levels respectively.
Alternatively, a daily close above 1142 will drag the parity higher towards key resistances at 1152, 1162, 1176, 1182, 1196, 1201, 1209 (20D EMA) and 1220 (March 03, 2016 high) marks respectively.
In addition, South Korea’s Kospi was trading 0.05% lower at 2,011.28 points.
We prefer to take short position in USD/KRW only below 1128, stop loss 1142 and target 1115/ 1101 marks.


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Dunkin’ Brands Shares Drop on Weak Growth, Soft Revenue





Dunkin' Brands shares dropped by as much as 4% in early trading on Thursday following the company's announcement of weaker-than-predicted sales growth and headwinds in international markets. But the stock regained ground and recovered its losses and closed at a modestly lower level.


Same-store sales at overseas locations of the company's Baskin-Robbins and Dunkin' Donut brands in the second quarter was down 6.6% and 3.1% respectively. The results are significantly lower than analysts' forecasts.


Sales in the U.S. stores also did not meet Wall Street approximations. Dunkin' announced same-store sales rise of 0.5%, lower than the expected 0.9% growth. Baskin-Robbins rose by 0.6% but was anticipated to rise 3.4% by Wall Street.


But Dunkin' Brands income topped Wall Street predictions, reporting profit of 57 cents per share compared to an estimate of 56 cents per share, with its revenue at $216.3 million. Analysts predicted an average revenue of $220.2 million.


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Fxwirepro: Singapore Dollar falls in Early Hours of Asia ahead of Cpi Data





USD/SGD is currently trading around 1.3613 marks.
It made intraday high at 1.3619 and low at 1.3573 levels. Intraday bias remains bullish till the time pair holds key support at 1.3539 marks. A daily close below 1.3539 will drag the parity down towards key supports at 1.3496/1.3420/1.3357 (April 20, 2016 low)/1.3318/1.3302/ 1.3271 levels.
Alternatively, a sustained close above 1.3627 will tests key resistances at 1.3646, 1.3799, 1.3836, 1.3851(March 16, 2016 high), 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover).
Important to note here that, 20D, 30D and 55D EMA heads down and confirm the bearish trend. Current upside movement is short term trend correction only.
Singapore will release CPI data at 0500 GMT.
We prefer to take long position in USD/SGD around 1.3602, stop loss 1.3539 and target 1.3740.


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Dollar Extends Two-Week Advance Versus Yen





The dollar continued its two-week rally versus the yen amid expectations that the Federal Reserve will keep rates unchanged while the Bank of Japan will further monetary stimulus at their respective policy meeting this week.


The dollar gained 0.3% to 106.43 yen as of 9:18 am in Tokyo trading. It advanced 1.2% last week, extending a 4.3% gain in the previous period. The greenback hit a six-week high of 107.49 yen on Thursday.


Economists in a Bloomberg survey are expecting the BoJ to ease this week. Meanwhile, analysts are expecting the Fed to keep rates unchanged but to be more positive about the US economic outlook given the suppressed impact from Brexit and the improvement of the US economic data.


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