Thread: Forex News from InstaForex

Volkswagen July vehicle sales down 3.7 percent on China, Russia





The vehicle sales of Volkswagen, a German carmaker, slipped 3.7% in July, and were down 1% over the January to July period, affected by weak markets in China, Russia, and Bazil. In a statement, Christian Klinger, carmaker's head of group sales, said the overall economic situations of those three countries remain difficult.


News are provided byInstaForex.

NZ Dollar Advances Against Most Majors





The New Zealand dollar strengthened against most major currencies in the Asian session on Thursday. The NZ dollar rose to 0.6473 against the U.S. dollar, from yesterday's closing value of 0.6431. Against the yen and the euro, the kiwi edged up to 77.85 and 1.7498 from yesterday's closing quotes of 77.14 and 1.7555, respectively. If the kiwi extends its uptrend, it is likely to find resistance around 0.67 against the greenback, 83.00 against the yen and 1.66 against the euro.


News are provided byInstaForex.

Japanese yen weakens following Kuroda comments





The Japanese yen dwindled Thursday following Bank of Japan Governor Haruhiko Kuroda said the country can still attain inflation target. On Wednesday, the BOJ head mentioned he is depending on a tight labor supply to increase consumer inflation toward the bank's 2% target, as well as Chinese policy actions to bolster their sluggish exports. The yen finished at ¥136.28 per euro and ¥120.07 per US dollar. Kuroda added the Japanese central bank will assess both upside and downside perils to the economy and make adjustments, if needed.


News are provided byInstaForex.

China Industrial Profits Fall In July





Profits earned by Chinese industrial enterprises decreased in July after rising in the previous month, figures from the National Bureau of Statistics showed Friday. Industrial profits fell 2.9 percent year-over-year to CNY 471.56 billion in July following a 0.3 percent rise in the preceding month. The agency said the fall in industrial profit for the month was impacted by a slowdown in industrial production and sales growth, a decline in industrial producer prices and raw material purchase price, and a fall in investment income. During the first seven months of the year, total industrial profits declined by 1.0 percent as compared to the corresponding period last year. Among sub sectors, profits earned by mining industry plunged 57.4 percent in the January to July period, while manufacturing sector registered profit growth of 5.7 percent.


News are provided byInstaForex.

Australian dollar skids as rate speculations escalate





The Australian dollar tumbled Monday as expectations of a US interest rate hike strengthened. Bets for a September and October rate hike soared after remarks from Federal Open Market Committee members last week. The Aussie stood at 64.12 euro cents from Friday's 63.61 euro cents, and 71.64 US cents from 71.67 US cents. On Tuesday, the Reserve Bank of Australia will unveil its decision on rate and its remarks about China's outlook.


News are provided byInstaForex.

Fxwirepro: Buy Usd/jpy at Dips Around 120.95-121 With Sl Around 120.50 for the Tp of 121.75/122





USD/JPY has made a low of 120.64 and recovered till 121.72. It is currently trading at 121.07. Overall trend is weak as long as support 120.50 holds. On the downside any break below 120.50 confirms further weakness , a decline till 120/119.70 cannot be ruled out . The pair's minor resistance is around 121.20 and any break above targets 121.75/122.35. It is good to buy at dips around 120.95-121 with SL around 120.50 for the TP of 121.75/122


News are provided byInstaForex.

Australian dollar tumbles despite higher crude prices





The Australian dollar dropped Monday although US crude oil ended almost 9% higher on lower domestic production estimate. US crude oil futures settled at $49.20 a barrel. The Aussie stood at 63.48 euro cents from Friday's 63.62 euro cents, and 71.17 US cents from 71.42 US cents.


News are provided byInstaForex.

Canadian dollar wipes out advances as oil prices slide





The Canadian dollar erased earlier gains Tuesday as crude prices slumped on worries about how the degenerating growth in China can affect the global economy. That made the oil price lose 8%. Prices had surged almost 25% over three sessions. The loonie stood at 75.63 US cents from Monday's 76.01 US cents. No one places much confidence on oil prices. It remains noisy “and there's still a lot of volatility,” said Amo Sahota, Director at Klarity FX. The currency jumped earlier as the Canadian economy constricted by 0.5% in the second quarter.


News are provided byInstaForex.

US dollar leaps on volatile stock markets





The US dollar bounced Thursday as global investors scaled back on riskier equities, aggravated by China's devitalizing economy and its volatile stock markets. China's degenerating economy and woes about global growth pressed investors to cut bets in the euro and the Japanese yen. The greenback finished at $1.1210 per euro. Versus the Japanese yen, the dollar closed at ¥120.655. We believe additional easing is possible before the year ends. Such message should uphold sentiment, “which so far has been a drag on risky assets,” said strategists at Barclays. With China's markets shut for a national holiday, investors will now focus on the European Central Bank policy meeting today.


News are provided byInstaForex.

Euro declines following ECB dovish stance





The euro held losses Friday after the European Central Bank retained its asset purchase program and implied the likelihood of prolonging the program. ECB President Mario Draghi said the central bank's bond-buying program may run beyond September 2016, and its extent and composition may be changed. Against the US dollar and the Japanese yen, the common currency closed at $1.1122 and ¥133.13. The stipulation the ECB's asset purchase program may be extended beyond September next year is escalating, “which should continue to weigh on euro and eurozone short-term swap rates,” said Elias Haddad, Senior Currency Strategist at Commonwealth Bank. The central bank cautioned growth would suffer from devitalizing momentum in emerging markets, specifically China and slumping oil prices could pull eurozone back into deflation in the next months.


News are provided byInstaForex.