Thread: Forex News from InstaForex

Australia Q4 Company Operating Profits Soar 20.1%





Company operating profits in Australia climbed a seasonally adjusted 20.1 percent on quarter in the fourth quarter of 2016, the Australian Bureau of Statistics said on Monday.


That easily beat forecasts for an increase of 8.0 percent following the 1.0 percent gain in the previous three months.


Profits spiked 26.2 percent on year.


Company inventories gained just 0.3 percent on quarter in Q4, shy of expectations for 0.5 percent and down from 0.8 percent in the three months prior.


Inventories were up 1.6 percent on year.


Sales of manufacturing goods and services added 0.1 percent on quarter but fell 2.4 percent on year.


Sales in wholesale trade gained 3.1 percent on quarter and 9.0 percent on year.


Wages and salaries dipped 0.5 percent on quarter but climbed 1.0 percent on year.


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Samsung Hints at Release of Galaxy S8 Release





Samsung Electronics Co. has hinted on the upcoming release of its Galaxy S8 smartphone and launched new tablets that target video-gamers and professionals as the firm seeks to regain ground lost after its previous disadvantage of pulling out the Note 7. The defeat cost the Korean company an estimated $6 billion and caused a severe blow to the firm.


The Galaxy Tab S3 has a 9.7 inch Amoled screen, quad-stereo speakers and allows users to play 4K video, according to Samsung ahead of the annual Mobile World Congress event in Barcelona. The Galaxy Book, is directed towards professionals, comes in with 10.6-inch and 12-inch models and runs the Windows 10 operating system. Samsung has finally confirmed a March 29 release date for the next smartphone.


For the time being, Samsung will launch the new tablets as well as a new virtual-reality viewer which the company has showed. The tablet portfolio “is built with premium technology that delivers a productive and versatile experience to consumers,” according to D.J. Koh, the head of Samsung's mobile communications business.


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Fxwirepro: South Korean Won Marginally Higher Against Euro on Robust Manufacturing Bsi Index





EUR/KRW is currently trading around 1,197 mark.


Pair made intraday high at 1,199 and low at 1,197 levels.


Intraday bias remains bearish till the time pair holds key resistance at 1,205 mark.


A daily close below 1,198 will drag the parity down towards key supports around 1,191, 1,184, 1,178 and 1,163 marks respectively.


Alternatively, a sustained close above 1,198 will take the parity higher towards key resistances around 1,205, 1,221, 1,233, 1,242, 1,252, 1,268, 1,272, 1,280, 1,287 and 1,304 marks respectively.


Seoul shares open up 0.08 pct at 2087.26.


South Korea’s BOK manufacturing BSI index increases to 79 vs previous 78.


We prefer to take short position in EUR/KRW around 1,199, stop loss at 1,205 and target of 1,184.


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Dow Jones closes at 12th consecutive record high





US shares ended slightly higher while the Dow Jones ended at a 12th straight record close as traders are anticipating President Donald Trump's first speech to a joint session later on Tuesday.


Investors seek to search hints about the Trump government's policies for tax reform and easing regulations. He previously implied he wanted to beef up army spending by over 9%.


On Monday, the Dow Jones Industrial Average traded at 20,837.44, up 0.08%. The S&P 500 stood at 2,369.73, up 0.10%. The Nasdaq Composite closed at 5,886.90, up 0.28%.


The key stock indexes logged fresh record highs in the previous week but did not record advances as sturdy as the week before.


Trump's pledge of a breakthrough tax announcement helped revitalize the post-election surge, gliding the key US stocks to post new records.


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Myanmar Manufacturing PMI Jumps To 51.9 - Nikkei





The manufacturing sector in Myanmar continued to expand in February, and at a faster rate, the latest survey from Nikkei showed on Wednesday with a manufacturing PMI score of 51.9.


That was up from 51.7 in January, and it moves further above the boom-or-bust line of 50 that separates expansion from contraction.


Individually, the growth was spurred by solid growth of output and new work although optimism weakened to a survey-record low.


The exchange rate fluctuations contributed to another steep rise in input costs.


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Australia Has A$1.302 Billion Trade Surplus





Australia had a seasonally adjusted merchandise trade surplus of A$1.302 billion in January, the Australian Bureau of Statistics said on Thursday.


That was shy of expectations for a surplus of A$3.80 billion and was down from A$3.334 billion in December.


Exports were down 3.0 percent on month to A$31.796, while imports advanced 4.0 percent to A$30.494 billion.


News are provided byInstaForex.

Yahoo executives familiar with 2014 hack prior to Verizon deal





Yahoo admitted its senior executives were knowledgeable about a hack by a state-backed attacker in 2014 before it struck a $4.8 billion agreement with Verizon last summer.


Based on a probe by a separate panel, the technology company's senior officials and relevant legal staff were familiar with the incident but did not investigate it to the full extent of what was known by the firm's information security group.


It did not conclude that concealing these details was done intentionally.


Chief Executive Marissa Mayer announced she will relinquish her annual bonus and equity grant to Yahoo employees to compensate for the security breaches that took place in 2013 and 2014.


Yahoo's general counsel Ronald Bell left the company without any payoffs.


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China Services PMI Falls To 52.6 In February - Caixin





The services sector in China continued to expand in February, although at a slightly slower pace, the latest survey from Caixin showed on Friday with a PMI score of 52.6.


That was down from 53.1 in January, although it remains well above the boom-or-bust line of 50 that separates expansion from contraction.


The composite index also checked in at 52.6, up from 52.2 in the previous month.


Individually, new business picked up, while employment also expanded but at a slower pace.


Inflationary pressures continued to ease, while business sentiment ticked slightly higher.


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Dollar Firms as Investors Price in March Fed Hike





The dollar maintained its strength on Friday as the rising probability of a U.S. interest rate hike hurt appetite for sovereign bonds and commodities.


The dollar held broad gains at 114. 28 yen and bordered a peak of 114.95 versus the Japanese currency. A dollar index slipped by a fraction to 102.070 after hitting its peak level since January 11.


Hawkish remarks echoed by several influential Fed officials caused the implied probability of a move from the U.S. central bank to further tighten monetary policy during a policy meeting on March 14-15 to shoot up to 74 percent, from just 30 percent at the beginning of the week.


Market participants are expected to closely observe Fed Chair Janet Yellen and Vice Chair Stanley's speeches later on Friday whether they will reiterate the hawkish stance. But traders are already expecting the top Fed officials to stick to the same tune.


Analysts said that the markets are now locking on their bets, with the assumption that a rate hike “soon” can be as early as this March and that perhaps 3 rate hikes will be seen this year, in line with Fed's set pace of rate increases.


The rise in the greenback hurt demand for commodities which are usually traded in dollar terms.


News are provided byInstaForex.

Fxwirepro: Eur/krw Hits Fresh 4-Week High at 1,225 Mark, Faces Strong Resistance at 1,228





EUR/KRW is currently trading around 1,224 mark.


Pair made intraday high at 1,225 and low at 1,219 levels.


Intraday bias remains bullish till the time pair holds key support at 1,221 mark.


A daily close below 1,221 will drag the parity down towards key supports around 1,207, 1,199, 1,191, 1,184, 1,178 and 1,163 marks respectively.


Alternatively, a sustained close above 1,221 will take the parity higher towards key resistances around 1,228, 1,233, 1,242, 1,252, 1,268, 1,272, 1,280, 1,287 and 1,304 marks respectively.


Seoul shares open down 0.27 pct at 2073.20.


South Korea’s February FX reserves increase to 373.91 bln $.


We prefer to take short position in EUR/KRW around 1,225, stop loss at 1,235 and target of 1,205.


News are provided byInstaForex.