Thread: Forex News from InstaForex

Australia Home Loans Slide 4.2% In July





The total number of home loans in Australia was down a seasonally adjusted 4.2 percent on month in July, the Australian Bureau of Statistics said on Friday - standing at 55,010.


That missed forecasts for a decline of 1.5 percent following the 1.2 percent increase in June.


Investment lending added 0.5 percent to A$11.842 billion, slowing from 3.2 percent in the previous month.


The value of loans slipped 3.1 percent to A$19.946 billion after rising 1.8 percent a month earlier.


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Gold Declines as Dollar Firms





Gold prices dropped as the U.S. dollar firms while interest rates were left unchanged by the European Central Bank. The ECB's decision started a selling in government bonds and an increase in yields, that has placed pressure on prices of gold, according to BMO Capital Market's Tai Wong.


On the Comex division of the New York Mercantile Exchange, gold for December delivery settled down by 0.6 percent at $1,341.60 per troy ounce. The decline indicated the precious metal's second successive day of losses.


The WSJ Dollar Index increased by 0.3 percent at 86.13.




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China Industrial Production Expands 6.3% In August





Industrial production in China climbed 6.3 percent on year in August, the National Bureau of Statistics said on Tuesday - beating forecasts for a gain of 6.2 percent and up from 6.0 percent in July.


On a monthly basis, output expanded 0.5 percent.


The bureau also said that retail sales advanced an annual 10.6 percent - again exceeding expectations for 10.2 percent, which would have been unchanged from the previous month.


Fixed asset investment gained 8.1 percent on year, beating forecasts for 7/9 percent and unchanged from the July reading.


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Dollar Declines on Fed Official Brainard’s Comment on September Rate Hike





The U.S. dollar declined against a basket of major currencies following a statement from a Federal Reserve official regarding reduced bets on the central bank's interest rate hike in September which also implied a dovish stance. According to Fed board governor Lael Brainard, the fed should not increase rates too quickly since the current rates are propping up the economy.


The dollar index was previously down by 0.22 percent at 95.126. The index significantly declined after the release of Brainard's comments to a session low of 94.935, which reversed the movement minutes later, however has retraced much of the losses. The September fed funds contract FFU6 increased by 1.0 basis point after Brainard's comments.


The dollar declined against the Japanese currency by 0.83 percent at 101.83 yen. However, it reversed previous gains against various emerging market and commodity currencies following statements from Brainard, which includes the Aussie dollar, Russian rouble, and the Brazilian real. The euro previously increased against the dollar at $1.1235.


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Fxwirepro: Usd/sgd Hits Fresh 3-Month High at 1.3685, Bias Remains Bullish





USD/SGD is currently trading around 1.3664 marks.

It made intraday high at 1.3681 and low at 1.3658 levels.


Intraday bias remains bullish till the time pair holds key support at 1.3605 marks.

A sustained close above 1.3660 will test key resistances at 1.3732, 1.3799, 1.3836, 1.3851(March 16, 2016 high), 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover).


On the other side, a daily close below 1.3605 will drag the parity down towards key supports at 1.3538/1.3462/1.3391/1.3347/1.3313/1.3302/ 1.3271 levels.


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


We prefer to go long on USD/SGD only above 1.3685 with stop loss at 1.3605 and target of 1.3799.


News are provided byInstaForex.

Fxwirepro: Usd/sgd Hits Fresh 3-Month High at 1.3685, Bias Remains Bullish





USD/SGD is currently trading around 1.3664 marks.

It made intraday high at 1.3681 and low at 1.3658 levels.


Intraday bias remains bullish till the time pair holds key support at 1.3605 marks.

A sustained close above 1.3660 will test key resistances at 1.3732, 1.3799, 1.3836, 1.3851(March 16, 2016 high), 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover).


On the other side, a daily close below 1.3605 will drag the parity down towards key supports at 1.3538/1.3462/1.3391/1.3347/1.3313/1.3302/ 1.3271 levels.


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


We prefer to go long on USD/SGD only above 1.3685 with stop loss at 1.3605 and target of 1.3799.


News are provided byInstaForex.

U.S. Stocks Decline as Oil Drops





U.S. stocks and oil have declined, which extends the session of volatility which started while investors focused on the central bank. The Dow Jones Industrial Average decreased by 1.4 percent to 18066.75.


The S&P 500 fell by 1.5 percent to 2127.02 while the Nasdaq Composite was down by 1.1 percent to 5155.25. The CBOE Volatility Index surged by 18 percent to 17.85, which is its highest level since June 28. The energy sector of the S&P 500 was down by 2.9 percent, as shares of Chesapeake Energy led declines, slipping by 8.3 percent to $7.38.


Speculations revolving around the possibility of the Federal Reserve increasing interest rates as soon as next week has contributed to the significant selloff in stocks, however concerns appeared to have lessen following three Fed officials who have stated that there was no hurry to move.


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New Zealand GDP Gains 0.9% In Q2





New Zealand's gross domestic product climbed 0.9 percent on quarter in the second quarter of 2016, Statistics New Zealand said on Thursday.


That missed forecasts for an increase of 1.1 percent and was unchanged from the upwardly revised 0.9 percent growth in the first quarter (originally 0.7 percent).


Individually, construction was up 5.0 percent, after a 5.1 percent increase in the previous quarter. All construction sub-industries increased.


On a yearly basis, GDP expanded 3.6 percent - matching expectations and up from 2.8 percent in the three months prior.


Household consumption expenditure was up 1.9 percent, driven by spending on services and durable goods.


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Dollar Declines With Hike Rate Bets





The U.S. dollar declined while investors bet that an interest rate hike by the Federal Reserve in the coming months is unlikely. The Wall Street Journal Index decreased by 0.2 percent at 86.67.


Fed-funds futures has shown that traders and investors have assigned a 48 percent chance of an interest rate hike by December, according to the CME. Data has shown that the likelihood of an increase at the Sept.20-21 Fed meeting is at 15 percent. The dollar declined against the Japanese yen by 0.1 percent at 102.43 while the euro increased by 0.2 percent at 1.1248.


In emerging markets, the dollar increased by one percent to 19.27 against the Mexican peso and it declined by 0.4 percent to 65.15 against the Russian ruble.


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Fxwirepro: Usd/sgd Hovers Around 1.36 Mark, Bias Remains Neutral





The price of long-dated U.S. government bonds have dropped following a short respite, which highlights the uncertainty of investors in the middle of bond valuations and less support for monetary stimulus coming from other major central banks. The movement of prices was due to reports of retail sales and industrial production which drove expectations that an interest rate hike fromt the Federal Reserve by next week is unlikely.


Yield on the benchmark 10-year Treasury note was at 1.703 percent. The 10-year note's yield premium on the two-year note was at 0.965 percentage point. The premium investors declined to 0.75 percentage point during early July, which is the lowest since 2007. The 10-year Treasury yield on Thursday was below 2.273 percent which is the yield settled during the end of last year.


The yield on the two-year note declined to 0.738 percent in comparison to Wednesday's 0.758 percent.


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