Thread: Forex News from InstaForex

Dollar Wavered Near 13-Month Lows After Fed Statement





The dollar nursed losses at 13-month lows versus a basket of currencies early on Thursday after the Federal Reserve's policy statement, which was perceived to be slightly dovish.


The dollar's index against a basket of six major currencies dropped to 93.44, having lost ten percent from its 14-year peak of 103.82 reached on Jan 3.


The next support levels are seen at 93.019, a June 2016 low, and 91.919, a 16-month low notched in May 2016, although a breach of these would be seen as major bearish signals.


The Fed's perceived interest rate advantage is wearing away as many other central banks have began to look to winding back their stimulus in recent months.


Fed funds rate futures are implying slightly less than a 50 percent likelihood of a rate hike by December, compared to a little over 50 percent prior to the meeting.


The dollar fell to 111.111 yen, inching near 110.625, its 5 ½ week low notched on Monday.


Investors have turned to the euro ever since European Central Bank President Mario Draghi signalled that the central bank might adjust its asset purchase.


The euro climbed to as high as $1.1750 in early Thursday trade, touching its highest level since January 2015.


The British pound stood at $1.3119, near its recent high of $1.3126.


The Australian dollar regained its $0.80 mark for the first time since 2015 and last stood at $0.8001.


Prime News are provided byInstaForex.

PEMEX: Net Income Increases To US$ 1.8 Billion In Q2Mexico's state-owned Petroleos Mexicanos (Pemex) reported a net profit of 32.8 billion Mexican pesos (US$ 1.8 billion) in the second quarter of 2017, compared to losses in the same period last year. It was the third consecutive quarter of positive financial results for the company. In a statement, Pemex said that the result reflects policies implemented by the current administration to improve efficiency and profitability. "For this, it has been a key to take advantage of the tools granted by the Energy Reform," the company said. Crude oil production averaged 2,013 thousand barrels per day (Mbd) during the quarter. Compared to the same quarter of 2016 there was a 7.5% decrease.News are provided byInstaForex.

European Stocks Drop as AstraZeneca Weighs on IndexesThe largest one-day decline in AstraZeneca shares after a drug study failure weighed on stock trading in Europe on Thursday. It offset a handful of well-received earnings results and sent indexes lower. The pan-European Stoxx Europe 600 Index closed below the flatline, with most sectors in the red. Food and beverages stocks were the best performers, higher by 1.3 percent, as investors priced in solid earnings news. Regional healthcare stocks dropped 1.2 percent to their lowest in over four months. British pharmaceutical AstraZeneca said a combination of two of its new oncology drugs has failed to shrink lung cancer tumors in a clinical trial. Investors currently have doubts whether the firm will be able to achieve its ambitious growth plans. Shares of the firm plunged 15 percent to its lowest level in almost five months. Strong results from large companies, which includes Swiss drugmaker Roche, beer maker AB InBev and Diageo were not enough to pull broad index higher. Deutsche Bank led banking stocks lower, tumbling 6.5 percent in its weakest day in five months after the lender trimmed its 2017 revenue forecast as a result of a difficult second quarter. Heavyweight BASF and Bayer fell following weaker than expected earnings, as well as a profit forecast trim for both.The chemicals sector was the worst-performing across Europe. News are provided byInstaForex.

Japan Industrial Production Exits Contraction





Japan's industrial output recovered in June, pulling away from contraction and marking the third time this year the key measure of production regained its footing from a decline in the prior month.


On a monthly basis, industrial production increased 1.6 percent in June, according to an initial reading from the Ministry of Economy, Trade and Industry. The month-on-month numbers was slightly short of the expected 1.7 percent increase, but a significant recovery from May's contraction of 3.6 percent.


The transport sector's output climbed 4.2 percent in June, recovering from a 13 percent slid in the preceding month. Output of chemicals also jumped 3.4 percent during the period, compared to the 2.2 percent decline in May.


Manufacturers see a steady increase in output in the following months, indicating that solid demand abroad and increase in consumer spending could buttress overall growth of the Japanese economy. Manufacturers expect output to increase 0.8 percent in July and 3.6 percent in the succeeding month.


News are provided byInstaForex.

European Economics Preview: Eurozone Flash Inflation Data Due





Inflation and unemployment from euro area and retail sales from Germany are due on Monday, headlining a busy day for the European economic news.


At 2.00 am ET, Destatis is scheduled to issue Germany's retail sales data. Economists forecast retail sales to grow 0.2 percent on month in June, slower than the 0.5 percent increase seen in May.


At 3.00 am ET, producer prices from Hungary and foreign trade data from Turkey are due. The trade deficit is seen narrowing to $6 billion from $7.31 billion in May.


At 3.55 am ET, the Federal Labor Agency is set to release Germany's unemployment data. The jobless rate is forecast to remain unchanged at 5.7 percent in July.


At 4.00 am ET, Italy's unemployment data is due for June. The jobless rate stood at 11.3 percent in May.


At 4.30 am ET, the Bank of England is slated to issue UK mortgage approvals for June. The number of mortgages approved in June is forecast to fall to 65,000 from 65,200 in May.


At 5.00 am ET, Eurostat releases euro area inflation and unemployment figures. The flash inflation is seen at 1.2 percent in July, following 1.3 percent in June. The jobless rate is forecast to fall to 9.2 percent in June from 9.3 percent in May.

VENEZUELA: U.S. Treasury Freezes Maduro's Assets After Constituent Election





The U.S. Department of the Treasury sanctioned the president of Venezuela, Nicol?s Maduro, for "undermining democracy" in the Latin American country.


The sanctions come a day after the Maduro government held elections for a National Constituent Assembly that aspires to rewrite the Venezuelan constitution despite a massive boycott to the polls by the opposition.


The election day was also marred by violence, with 16 people killed, according to the Venezuelan Observatory of Social Conflict (OVCS), which also said that only in two Venezuelan states there were no violent acts or anti-government protests.


"The Maduro administration has proceeded with the ANC even though Venezuelans and democratic governments worldwide have overwhelmingly opposed it as a fundamental assault on the freedoms of the Venezuelan people. The creation of the ANC follows years of Maduro's efforts to undermine Venezuela's democracy and the rule of law," said the U.S. Treasury department in a statement.


"As a result of today's actions, all assets of Nicol?s Maduro subject to U.S. jurisdiction are frozen, and U.S. persons are prohibited from dealing with him," the statement added, without specifying which assets could be targeted by the sanctions.


The Constituent Assembly election held yesterday in Venezuela chose 545 representatives to rewrite the country's constitution, which was last modified during former president Hugo Ch?vez administration.


More than eight million Venezuelans took part in Sunday's National Constituent Assembly (ANC) vote, convened by the Nicol?s Maduro's government. Voters' participation reached around 41% of more than 19 million Venezuelans able to vote, said the president of the National Electoral Council (CNE), Tibisay Lucena.


The Venezuelan opposition said that it would march today against the violence reported during the demonstrations. Freddy Guevara, the first vice-president of the National Assembly (controlled by the opposition), urged citizens to protest today and attend a rally in Caracas.


More than ten countries of the region, among them Argentina, Colombia, and Peru, said that would not recognize the electoral results. The United States and the European Union called the vote "illegal."


News are provided byInstaForex.

European Stocks Ends July Lower, Weighed Down by Earnings Sentiments





European shares closed lower on the final trading day of July, as declines among tobacco stocks and some broker downgrades added pressure on shares. Analysts priced in what appears to be an “underwhelming” earnings season.


The STOXX Europe 600 Index fell 0.1 percent as eurozone stocks and blue chips dropped 0.3 to 0.4 percent. The U.K.'s FTSE 100 index held on to 0.1 percent gains. France's CAC 40 fell to its lowest in three months.


Financials weighed down main European indexes. HSBC rose 1.9 percent, as it reported a forecast-exceeding five percent increase in its first half pretax profit and announced a third buyback in a year.


Consumer goods added the most pressure on the benchmark, falling 1.1 percent as cigarette makers extended losses on a regulatory crackdown in the United States.


British tobacco companies Imperial Brands and British American Tobacco continued to decline from the session earlier, tumbling 5.8 percent and 4.7 percent respectively.


Mining companies gained as copper prices increased on the back of China's manufacturing data.


Nearly 46 percent of MSCI Europe companies have posted results, 59 percent of which have either met or exceeded analysts' expectations, according to data from Thomson Reuters. The figure is marginally lower for eurozone firms. Only more than half of them have met or exceeded expectations.


News are provided byInstaForex.

Japan Monetary Base Climbed 15.6% In July





The monetary base in Japan was up 15.6 percent on year in July, the Bank of Japan said on Wednesday - coming in at 465.069 trillion yen.


That followed the 17.0 percent spike in June.


Banknotes in circulation were unchanged at 4.6 percent on year, while coins in circulation were steady at 1.2 percent.


Current account balances surged 19.3 percent on year, including a 17.6 percent spike in reserve balances.


The adjusted monetary base was up 4.2 percent on year to 454.544 trillion yen.


News are provided byInstaForex.

European Stocks Climbed, Buoyed by Earnings, Economic Data





European shares advanced on Tuesday as corporate earnings reports incited quick trading while recent data indicated a strong euro-area economy.


The pan-European Stoxx 600 climbed 0.6 percent. Blue chips rose 0.9 percent, their best one-day gain in three weeks. Germany's DAX was up 1.1 percent and Britain's commodities-heavy FTSE 100 added 0.7 percent as oil stocks increased.


The European second-quarter earnings season is nearing the halfway mark and so far 60 percent of MSCI Europe companies have met or exceeded analysts' expectations, according to Thomson Reuters data.


BP climbed 2.4 percent, which pushed energy shares towards the best performance among industry groups.


Rolls-Royce rose ten percent after its first-half profit more than doubled. The company was the largest contributor to gains in the Stoxx 600.


Testing company Intertek Group, insurer Direct Line and Dutch chemicals firm DSM, which all added between 5.8 percent to nine percent on the back of well-received results.


Lender CYBG gained 9.3 percent after it said that mortgages increased in the second quarter and the net interest margin improved.


News are provided byInstaForex.

Singapore PMI Moves Up To 51.3 In July - Nikkei





The private sector in Singapore continued to strengthen in July, the latest survey from Nikkei showed on Thursday with a PMI score of 51.3.


That's up from 50.7 in June, and it moves farther above the boom-or-bust line of 50 that separates expansion from contraction.


Individually, there were stronger rises in both output and total new orders.


Export sales increased at a record high, although lower employment persisted.


News are provided byInstaForex.