Thread: Forex News from InstaForex

Japan August Trade Surplus Y113.642 Billion





Japan posted a merchandise trade surplus of 113.642 billion yen in August, the Ministry of Finance said on Wednesday.


That beat forecasts for a surplus of 104.4 billion yen, although it was down from 418.8 billion yen in July.


Exports climbed 18.1 percent on year to 6.278 trillion yen, beating forecasts for a gain of 14.3 percent and up from 13.4 percent in the previous month.


Exports to Asia climbed 19.9 percent on year to 3.510 trillion yen, while exports to China alone advanced an annual 25.8 percent to 1.218 trillion yen.


Exports to the United States gained 21.8 percent on year to 1.183 trillion yen and exports to the European Union added an annual 13.7 percent to 671.783 billion yen.


Imports picked up an annual 15.2 percent to 6.164 trillion yen versus expectations for 11.6 percent and down from 16.3 a month earlier.


Imports from Asia jumped 15.2 percent on year to 2.995 trillion yen, while imports from China alone gained an annual 11.0 percent to 1.458 trillion yen.


Imports from the United States were up 5.7 percent to 648.748 billion yen, while imports from the European Union gained 12.3 percent to 756.342 billion yen.


The adjusted trade surplus was 367.3 billion yen, missing expectations for 404.7 billion yen and up from 363.1 billion yen in July.


News are provided byInstaForex.

Wall Street Climbs as Fed Meeting Begins





U.S. equities advanced on Tuesday as the Federal Reserve started its two-day monetary policy meeting. The three major indexes reported intraday highs on Monday.


The Dow Jones industrial average marked its 41st record close of the year, climbing 0.18 percent to 22,370.80. Verizon and Goldman Sachs contributed the most to the gains.


The S&P 500 added 0.1 percent to a record peak of 2,506.65, with telecommunications and financials leading gainers. The Nasdaq composite rose 0.1 percent and also reported a record close of 6,461.32.


The Fed is not expected to hike rates following its meeting. However, several market participants believe the central bank will announce the tapering of its $4.5 trillion portfolio.


The healthcare index was one of the biggest decliners amid losses in insurers like United Health, which dropped 1.9 percent as a result of recent efforts in Washington to overhaul Obamacare.


The largest U.S. telephone operators, Verizon and AT&T climbed over two percent, helping to lift the S&P. Wireless carrier T-Mobile advanced 5.3 percent while Sprint soared 8.1 percent, after a report that they were in active merger talks.


Tesla dropped 2.4 percent after Jefferies began coverage of the electric car maker's stock with “underperform”.


Best Buy tumbled 7.4 percent after the retailer forecast 2021 adjusted earnings well below Wall Street estimates. The stock was one of the largest laggards on the consumer discretionary index. Tags: Investments, Share, Stocks, bonds, Equity markets


Prime News are provided byInstaForex.

Gold Falls to 3-Week Low, Weighed Down by Fed Outlook





Gold prices dropped to its weakest level in more than three weeks on Thursday as the stronger U.S. dollar and the increased chances of another Federal Reserve interest rate rise this year have reduced demand.


Spot gold fell 0.2 percent at $1,298.61 per ounce, after earlier falling to its lowest since late August at $1,295.65.


U.S. gold futures for December delivery shed one percent to $1,302.10 per ounce.


The precious metal initially moved higher in the minutes ahead of the Fed's statement, then reversed course and dropped. It briefly plunged below the $1,300 mark that traders had viewed as psychological support. Bullion reached $1,295.81 per ounce, the lowest since Aug. 28.


According to Bill O'Neill, co-founder of Logic Advisors, speculative investors had increased their net long position in gold for nine consecutive weeks, making the market vulnerable to more selling.


The dollar firmed as Asian shares fell marginally following the Fed's announcement to begin reducing its balance sheet and indicated one more rate rise in 2017.


U.S. allies recently said that enforcing international sanctions on North Korea, and not mere dialogue, was the key to getting Pyongyang to give up its nuclear weapons.

COLOMBIA: Colcap Rises 0.15% On Bancolombia And Avianca





Colcap, the main index of the Colombian Stock Exchange, rose 0.15% to close at 1,486.15 points Friday, boosted by Bancolombia and Avianca. During the week, however, the Colombian market fell 0.45%.


Andr?s Fonseca, an analyst at Alianza Valores, said that a court ruling that favored Avianca in a litigation to the pilots union of pilots led to a 1.56% increase in shares.


Meanwhile, Bancolombia's preferred shares rose 1.42% following a report by Morgan Stanley recommending the shares of the bank traded abroad.


The ordinary shares of Bancolombia (+1.53%), Conconcreto (+0.99%), ETB (+0.97%), and Nutresa (+0.67%) also rose, while Cemargos (-1.02%), Davivienda (-0.90%), Celsia (-0.53%), Grupo Aval (-0.38%), and Ecopetrol (-0.36%) fell.


Meanwhile, the locally traded U.S. dollar closed the day at 2,905.80 Colombian pesos, marking a 0.32% fall, due to the increased perceived risk of political tensions between the United States and North Korea.


Wilson Tovar, an analyst at Acciones & Valores, pointed out that the greenback is giving way to other reserve currencies abroad, especially the Japanese yen.


News are provided byInstaForex.

Euro Slides on Political Uncertainty





The euro fell as Angela Merkel's win as German Chancellor was tainted by a worse-than-anticipated result that leaves her with challenging coalition talks.


Despite Merkel winning her fourth term in office, the euro ended a two-day rally as her current coalition party, the Social Democratic Party, excluded itself from an agreement with Merkel's Christian Democratic Union, making the establishment of a united government more difficult. Merkel will need to reach a consensus with pro-business Free Democratic Party and Green Party in order to form a coalition, a development that may need months.


The common currency fell 0.2 percent at $1.1934, increasing the gap between a two-and-a-half year high of $1.2092 hit on September 8, when the ECB policy meeting lifted hopes of currency bulls that the central bank would start unwinding its massive stimulus program.


While majority of currency analysts see the euro closing the year above the $1.20 mark after its 13 percent rally so far this year, lengthy negotiations to establish government could affect market sentiment. The FDP opposes further EU integration, while the far-right anti-immigrant Alternative for Germany party entering the parliament could put nationalist pressure on Merkel.


News are provided byInstaForex.

VENEZUELA: Foreign Ministers Reaffirm Lima Declaration





The Foreign Ministers of Argentina, Brazil, Canada, Chile, Colombia, Costa Rica, Guatemala, Honduras, Mexico, Panama, Paraguay and Peru have reaffirmed the Lima Declaration, in which they pledge to joint efforts to solve the political crisis in Venezuela. The decision came at a meeting in New York last week.


In a statement released by the Mexican Foreign Ministry, the signatories regretted that Venezuela maintains "the breach of the democratic order, since its government violates constitutional norms, the will of the people and inter-American values, crackdown political dissent, hold prisoners and violates human rights and fundamental freedoms of individuals."


They also expressed "support and solidarity to the democratically elected National Assembly, as well as their commitment to enforce non-recognition of the acts of the National Constituent Assembly (ANC), and to continue the implementation of the Inter-American Democratic Charter to Venezuela."


News are provided byInstaForex.

U.S. Stocks Declined over North Korea Tensions, Tech Selloff





Wall Street dropped on Monday, as a selloff in technology shares weighed on the Nasdaq, while North Korea's recent warnings to Washington contributed to a cautious tone.


The CBOE Volatility index, a broadly followed measure of market anxiety, notched a 2-week peak of 11.21 and last stood 1.12 points higher at 10.71.


The Dow Jones industrial average fell 0.24 percent at 22,296.09. McDonald's, Visa and Boeing were the worst performers on the index, followed by Apple. Home Depot, Exxon Mobil and Walt Disney outperformed.


Information technology had its worst day since August 17, declining 1.4 percent as the largest loser in the S&P 500, which fell 0.22 percent to 2,496.66. Energy led six sectors up and finished almost 1.5 percent.


The Nasdaq composite briefly dropped over one percent but finished 0.99 percent lower at 6,370.59 in its worst day since September 5.


Tech names like Facebook, was down 4.81 percent, Microsoft, dropped 1.89 percent, while Apple, lost 1.11 percent. Other tech-related stocks also fell. Amazon.com declined 1.6 percent and Netflix tumbled 4.7 percent.


Shares of Apple dropped for the fourth consecutive day. The stock declined five percent the previous week, its worst week in over a year, following the launch of the iPhone 8 and some other products in stores. The stock remains almost 30 percent higher for 2017.


Social media giant Facebook fell 4.5 percent in their worst day of the year. It dropped a proposal to issue a new class of shares that will allow CEO Mark Zuckerberg to maintain voting control and fund the firm's philanthropic efforts.


The declines in tech were counterbalanced partly by a sharp rise in the energy sector, which climbed 1.5 percent. The sector was poised for its sixteenth advance in the previous 18 sessions.


Prime News are provided byInstaForex.

ARGENTINA: Merval Breaks New Record Boosted By YPF





Merval, the main index of the Buenos Aires Stock Exchange, increased 0.33%, cutting back the gains obtained as soon as it opened, after the government announced that it would lift price control on fuels but rising enough to settle at 25,131.53 points Tuesday and break a new closing record high.


The state-owned oil company YPF was the most benefited by the government announcement climbing 6.26%.


Meanwhile, Central Puerto closed with a 4.95% increase after being granted two electricity generation projects, one in the province of Mendoza, for 89 MW and the other in the province of Santa Fe, for 317 MW.


The shares of Galicia (+2.08%) and Edenor (+1.98%) also rose, while Transener (-2.58%), Autopistas del Sol (-2.58%), and Costanera (-2.49%) fell.


The locally traded U.S. dollar rose 0.31%, closing at 17.58 Argentinean pesos, demanded for covering positions due to the end of the month.


"The foreign exchange market once again saw a rise in the US dollar traded with much lower volume - it was down 28% from yesterday - although it continued to be demanded by banks and companies," said Fernando Izzo, an analyst at ABC Mercado de Cambios.


News are provided byInstaForex.

Wall Street Mixed after Yellen’s Statements





U.S. equities finished narrowly mixed on Tuesday as technology stocks recuperated following its recent losses.


Fed Chair Janet Yellen supported the central bank's plan to hike interest rates gradually, raising the prospects of a December rate increase. Yellen said it would be imprudent to leave rates on hold until inflation hit the two percent target and that she saw “considerable” odds that inflation won't stabilize at that level over the next few years.


Growing tensions between the United States and North Korea also added pressure on market sentiment.


The Dow Jones industrial average fell 0.05 percent to 22,284.32 in its first losing streak since June 23. McDonald's added the most pressure on the index, while Apple outperformed.


Information technology rose 0.4 percent to lead three S&P 500 gainers, as telecommunications lagged behind the most. The benchmark index climbed 0.01 percent to 2,496.84. Seven of the 11 major S&P sectors were down, with telecom services index's 0.35 percent leading the losses.


The tech-heavy Nasdaq composite outperformed, shrugging off an almost one percent drop in the iShares Nasdaq Biotechnology ETF and advanced 0.15 percent to 6,380.16.


Shares of Apple climbed 1.3 percent, marking its first gain following four sessions of declines and boosting three major indexes, after Raymond James improved its price target.


Red Hat was up 3.70 percent after the Linux distributor's quarterly profit came in above estimates and the software firm raised its full-year forecast.


Prme News are provided byInstaForex.

Wall Street Climbs after Release of GOP Tax Plan, Banks Rise





U.S. equities advanced on Wednesday following the release of the GOP's tax plan framework and as investors paid attention to higher interest rates.


The Dow Jones industrial average climbed 0.25 percent, after marking its first four-day losing streak since June on Tuesday. Goldman Sachs was the best performer on the index.


The S&P 500 notched an all time-peak of 2,511.75, but did not set a record finish. The index closed 0.41 percent higher to 2,507.04. The Nasdaq composite outperformed by gaining 1.15 percent to 6,453.26, its best day since Aug 22.


Financial stocks rose 1.3 percent while information technology stocks climbed over one percent, the best performers on the S&P 500. Utilities, real estate investment trusts and consumer staples led losses on the index.


The GOP framework on tax reform would trim the corporate tax rate to 20 percent, as many anticipated. It also proposes to create just three individual tax rates and double the standard deduction.


The Russell 2000 index of small-cap stocks climbed 1.92 percent and hit its best day since early March. Small-cap names are likely to be the biggest beneficiaries of a tax cut.


Nike pared gains on the Dow and S&P as shares of the athletic wear company lost 1.92 percent after it reported its slowest quarterly sales growth in almost seven years and said it sees a further decline in revenue from North America. However, Nike did report a nine percent increase in Greater China sales.


Prime News are provided byInstaForex.