Thread: Forex News from InstaForex

Wall Street Edged Up, Boosted by Energy





U.S. equities closed slightly higher as energy shares counterbalanced losses in financials, while investors looked ahead to the beginning of quarterly corporate earnings season. Geopolitical tensions contributed to the choppy session. U.S. Secretary of State Rex Tillerson said that military strikes against Syria regarding its use of chemical weapons posed as a warning to other nations.


The Dow Jones industrial average inched up 0.01 percent at 20,658.02, as Caterpillar led gains while Merck was the worst performer. The S&P 500 added 0.07 percent at 2,357.16, with energy leading six sectors up while telecommunications lagged behind. The Nasdaq composite climbed 0.5 percent at 5,8880.93.


The S&P energy index advanced 0.8 percent to lead gains, as stocks received a lift from oil which increased 1.61 percent to settle at $53.08 per barrel. Energy firms are seen to deliver great strength with a 600 percent year-over-year earnings increase.


The financial sector fell 0.3 percent. Bank stocks have declined as investors doubt lofty valuations as well as Trump's ability to rapidly introduce simpler regulations and other policies. Citigroup, JPMorgan and Wells Fargo are set to post earnings on Thursday. Investors expect lenders to shed some light on the U.S. banking industry's performance amid a rally in financial shares since the election of U.S. President Donald Trump.


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Fxwirepro: Aussie Gains Against Kiwi on Robust Nab’s Business Condition Data





AUD/NZD is currently trading around 1.0798 marks.


Pair made intraday high at 1.0800 and low at 1.0766 marks.


Intraday bias remains bullish till the time pair holds immediate support at 1.0763 marks.


A daily close below 1.0777 will take the parity down towards key supports around 1.0713, 1.0670, 1.0616, 1.0594, 1.0552, 1.0516, 1.0460, 1.0412 and 1.0370 marks respectively.


On the other side, a sustained close above 1.0777 will drag the parity higher towards key resistances at 1.0833/1.0904/1.0966/1.1062 (30D EMA)/1.1148 levels respectively.


Australia’s March NAB business conditions increase to 14 vs previous 9.


Australia’s March NAB business confidence decrease to 6 vs previous 7.


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Fxwirepro: Eur/krw Hovers Around Key Resistance at 1,218 Mark, Stay Bullish





EUR/KRW is currently trading around 1,217 mark.


Pair made intraday high at 1,218 and low at 1,212 levels.


Intraday bias remains bullish till the time pair holds key support at 1,208 mark.


A daily close below 1,212 will drag the parity down towards key supports around 1,208, 1.200, 1,189, 1,178, 1,163 and 1,154 marks respectively.


Alternatively, a sustained close above 1,212 will take the parity higher towards key resistances around 1,218, 1,228, 1,233, 1,242 and 1,252marks respectively.


Seoul shares open up 0.20 pct at 2128.17.


Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.


South Korea’s March unemployment rate decrease to 3.7 % vs previous 4.0 %.


We prefer to take long position in EUR/KRW around 1,215, stop loss at 1,208 and target of 1,228.


News are provided byInstaForex.

Daily news in Forex has a great impact on market. So new trading is so important. But if we see carefully I find that most of the brokers provide wrong time of news. It is fully unfair for the traders. For that reason they cannot make the best use of this news time. They also get loss for this wrong time. Trade12 provides the right time in their calendar and also provide signals too.

BoK Holds Key Interest Rate Steady





The Bank of Korea stood pat on its policy rate on Thursday as the household debt continues to rise.


The ruling to leave the seven-day repo rate unchanged at a historic low of 1.25 percent since June 2016 was widely anticipated by economists. South Korea's central bank will issue a new quarterly economic outlook for the current year later in the day, after its previous projections of 2.5 percent growth and 1.8 percent price growth in January.


The central bank may likely extend its rate pause for a longer period of time, as swelling household debt and the Fed's monetary policy tightening further reduce the possibility of further easing in Korea.


A hike in interest rates is also seen to increase the pressure of repayment for many consumers. South Korea's household debt reached 1, 344 trillion won at the end of 2016, a level that the BoK already perceives as restricting domestic consumption.


BoK Gov. Lee Ju-yeol is slated to hold a press conference later in the day and investors are expected to look out for possible implications of increasing geopolitical tensions on the market


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Fxwirepro: Chinese Yuan Strengthens in Early Asia on Robust Trade Balance Data





USD/CNY is currently trading around 6.8744 marks.


It made intraday high at 6.8889 and low at 6.8729 levels.


Intraday bias remains bearish till the time pair holds key resistance at 6.90 mark.


A sustained close above 6.8914 marks will test key resistances at 6.9037, 6.9146, 6.9204, 6.9336, 6.9496, 6.9615, 6.9778 and 6.9883 marks respectively.


Alternatively, a daily close below 6.8914 will drag the parity down towards key supports at 6.8683, 6.8550, 6.8465, 6.8333, 6.8298, 6.8090 and 6.7769 marks respectively.


PBOC sets Yuan mid-point at 6.8651/dollar vs last close 6.8930.


China’s Q1 trade balance +454.94 bln yuan.


China’s Q1 yuan-denominated exports +14.8 pct y/y.


China’s Q1 yuan-denominated imports +31.1 pct y/y.


Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.


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Fxwirepro: South Korean Won Marginally Lower After Trade Balance Data





EUR/KRW is currently trading around 1,204 mark.


Pair made intraday high at 1,204 and low at 1,201 levels.


Intraday bias remains neutral till the time pair holds key support at 1,203 mark.


A daily close below 1,203 will drag the parity down towards key supports around 1.201, 1,194, 1,189, 1,178, 1,163 and 1,154 marks respectively.


Alternatively, a sustained close above 1,203 will take the parity higher towards key resistances around 1,207, 1,211, 1,218, 1,228, 1,233, 1,242 and 1,252marks respectively. Seoul shares open up 0.28 pct at 2140.87.


Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.


South Korea’s March export growth revised decrease to 13.6 % vs previous 13.7 %.


South Korea’s March import growth revised increase to 27.7 % vs previous 26.9 %.


South Korea’s March trade balance revised decrease to 6.27 bln $ vs previous 6.60 bln $.


We prefer to take long position in EUR/KRW around 1,203, stop loss at 1,200 and target of 1,208/1,211/1,218.


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U.S. Energy Chief Orders Study of Electric Grid to Ensure Power Supplies





U.S. Energy Secretary Rick Perry called for a study of the U.S. electric grid, with the focus on examining whether policies which promote wind and solar energy are further accelerating the retirement of coal and nuclear plants significant to assure stable and reliable power supplies.


The 60-day review follows as regulators try to figure out how they could balance electric reliability with a stack of state policies that are more focused on less stable renewable energy sources. U.S. President Donald Trump has moved to dismantle Obama-era policies which impeded coal-fired power plants. Regulations that Perry claims have reduced jobs and threatened to weaken the grid's performance. Perry's move implies that the administration is looking for ways to maintain coal plants online.


The study comes after the G-7 Energy Ministerial meeting in Rome where a discussion was made for the need to diversify the supply of electricity. German consumers have been bearing the expense for a green transition, as it promptly shuts nuclear plants and embraces renewable power.


News are provided byInstaForex.

Announcement: Moody's: Japan Economic Momentum Building, on the Back of Rising Exports and expected Fiscal Support





Moody's Japan K.K. has released its latest issue of Inside Japan, which says that the Japanese economy is showing evidence of incremental progress on reflation, after the government's announcement of a fiscal package in August 2016, and the unveiling of the Bank of Japan's yield curve control framework a month later.


Moody's also says that somewhat stronger external demand has augmented the impact of these measures by the Japanese government (A1 stable) and the Bank of Japan.


Further tangible effects will likely materialize in 2017, as the promised fiscal stimulus is fully implemented. Faster economic growth is positive for the sovereign, because it helps to continue stabilizing the country's high public debt burden, its foremost credit weakness.


Moody's "Inside Japan" bi-annual compendium includes recent key research and commentaries published, as well as a list of recent major rating actions in Japan.


Moody's compendium points out that the yen has weakened considerably since September 2016, providing a boost to exports and corporate profitability. The recovery in external demand — consistent with a pick-up in global trade towards the end of 2016 — has amplified the effect of the weaker yen.


Moody's also says that the near-term risks to Japan's growth outlook are broadly balanced. Moody's expects policy stimulus to provide support to the domestic economy, offsetting downside risks related to potentially more protectionist US trade policy.


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Wall Street Advanced as Dow Ends at Session Peaks





U.S. equities finished higher as the Dow Jones industrial average ended over 180 points up while bank stocks and technology shares advanced. Market focus moved from geopolitical tensions to earnings results, with Goldman Sachs, General Electric and Johnson & Johnson all set to report results later this week.


The Dow Jones industrial average climbed 0.9 percent to 20,636, as Boeing led gains while Exxon Mobil was the top decliner. The S&P 500 rose 0.86 percent at 2,349, with financials leading all 11 sectors up. The Nasdaq composite jumped 0.89 percent at 5,856.


The SPDR S&P Bank ETF (KBE) increased more than half a percent after two Wells Fargo executives purchased $5 million worth of Wells stocks. The SPDR S&P Retail ETF climbed over one percent, led by Rent-A-Center gaining nearly six percent. The S&P 500's technology sector finished higher for the first time in 11 sessions.


Shares of Netflix, which posted results after the bell, jumped 3.0 percent to $147.25 in the regular session but slipped 2.1 percent following the bell. Amazon gained the most on the S&P 500, higher by 2.0 percent to $901.99 after Credit Suisse improved its price target to $1,050 from $900. Credit Suisse also improved its price target on Boeing, which sent its shares 1.9 percent higher to $179.02.


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