Forex News (from InstaForex) - page 125
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Microsoft Objects to Labor Board Decision on Contract Worker Benefits
Microsoft Corporation has appealed to a federal court to discard a ruling by the U.S. labor board to broaden the duties of companies for contract workers with regards to benefits. The NLRB released a decision in August 2015 that expanded the definition of a joint employer which could oblige more companies to negotiate with and have accountability for workers hired by contractors. Microsoft's brief claimed that the 2015 decision was too expansive and would intimidate Microsoft and others from advising contractors to grant benefits to their employees, as the ruling would make the tech companies a joint employer. A source reported that there were nearly 81,000 temporary and contract employees under Microsoft at one point in 2015.
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Fxwirepro: Usd/jpy Fails to Sustain Below 103.00 Mark, Faces Strong Resistance at 105.19
USD/JPY is currently trading around 104.59 marks. It made intraday high at 104.82 and low at 104.22 levels. Intraday bias remains slightly bullish for the moment. A daily close above 105.19 is required to take the parity higher towards key resistances around 106.12, 107.90, 110.44, 112.60 (55D EMA) and 113.42 levels respectively. Alternatively, a sustained close below 104.00 will drag the parity down towards key supports at 103.54, 102.10 and 101.56 levels respectively. Important to note here that, 20D, 30D and 55D EMA heads down and confirms bearish trend in a daily chart. Current upside movement is short term trend correction only.
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Revlon to Acquire Elizabeth Arden for $870M
Revlon Inc. is set to buy Elizabeth Arden Inc. in an $870 million agreement. The cosmetics maker company is aiming to boost its skincare and fragrance enterprise and expand in the Asia-Pacific market with this acquisition. The equity value of the transaction is $419 million, derived from Elizabeth Arden's outstanding stocks at the beginning of May. This investment comes after Revlon majority stockholder Ron Perelman stated that he would look for strategic options for the company and to improve competition against rivals such as Estee Lauder Cos Inc and L'Oreal SA.
Elizabeth Arden's shares jumped almost 50% to 413.96 in extended trading while Revlon shared slightly rose to $31.30.
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UK House Prices Rise 0.8% In May - Rightmove
The average asking price for a house in the United kingdom was up 0.8 percent on month in May, property tracking website Rightmove said on Monday - coming in at 310,471 pounds.
That follows the 0.4 percent increase in April.
On a yearly basis, house prices advanced 5.5 percent - slowing from 7.8 percent in the previous month.
Individually, house prices in London dipped 0.2 percent on month, while every other area saw an increase.
News are provided byInstaForex.
Asian Stocks Rose as Brexit Anxiety Recedes, Pound Surges
Asian stocks climbed as mounting expectations of the United Kingdom voting to stay in the European Union eased risk worries and the pound strengthened against other currencies.
There was a gain of 0.4% in MSCI's broadest index of Asia-Pacific shares outside Japan while Japan's Nikkei was up 1.5%, reinforced by the weakening of the lately bullish yen. Australian stocks increased 0.3% and South Korea's Kospi gained 1%.
Meanwhile, the pound surged 1.4% to $1.4573, continuing its recovery from last week's two-month low of $1.4013. It leaped 1.9% to 152.50 yen GBPJPY=R, moving away from a three-year trough of 145.34 on Thursday.
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Fxwirepro: Aussie Gains Against Major Peers After Rba Minutes, Aud/nzd Back Above 1.05 Mark
AUD/NZD is trading around 1.0504 marks.
Pair made intraday high at 1.0509 and low at 1.0459 marks.
Intraday bias remains bullish till the time pair holds initial support at 1.0455 marks.
On the top side, a sustained close above 1.0547 will drag the parity higher towards 1.0647/1.0748/1.0823/1.0976 (January 2016 high) /1.1062 (30D EMA)/1.1123/1.1298/1.1317 levels respectively. Alternatively, a daily close below 1.0455 will take the parity down towards key supports around 1.0408(June 9, 2016 low), 1.0362 and 1.0231 marks respectively.
Important to note here that, 20D, 30D and 55D EMA heads down and confirms bearish trend in a daily chart. Current upside movement is short term trend correction only.
Today Australia released meeting minutes and HPI data.
Australia?s HPI fell to -0.2% q/q vs 0.2% q/q previous release.
RBA minutes: Board judged leaving rates steady at June 7 meeting was consistent with sustainable growth.
RBA minutes: Low interest rates and weaker A$ since 2013 helped support above potential growth in Q1.
RBA minutes: Growth in household disposable income had been stronger than measures of income growth for overall economy. We prefer to take short position in AUD/NZD around 1.0525, stop loss 1.0572 and target 1.0416/ 1.0374 levels.
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Brazil agrees to provide $15 billion state debt assistance until 2018
Brazil agreed to provide debt relief to state governments amounting to 50 billion reais ($15 billion) until 2018, seeking to offer a special loan to Rio de Janeiro prior to Olympics and beef up public services.
Finance Minister Henrique Meirelles unveiled the debt relief as governors met with President Michel Temer, in which they would be given a six-month grace period and 1 ? year of slashed payments.
Source privy to the matter said Brazilian municipality would receive 3 billion reais ($850 million) loan, payable in the following week.
Rio de Janeiro declared a financial emergency and asked for financing in order to complete the subway which will transport people to the venue of Olympic games and maintain public services during the event.
News are provided byInstaForex.
Fxwirepro: Usd/jpy Remains Well supported Below 104.85 Mark, Upside Limited
USD/JPY is currently trading around 104.43 marks.
It made intraday high at 104.85 and low at 104.35 levels. Intraday bias remains bearish for the moment.
A sustained close below 103.94 will drag the parity down towards key supports at 102.10 and 101.56 levels respectively.
Alternatively, a daily close above 104.85 is required to take the parity higher towards key resistances around 106.12, 107.90, 110.44, 112.60 (55D EMA) and 113.42 levels respectively.
Important to note here that, 20D, 30D and 55D EMA heads down and confirms bearish trend in a daily chart.
Today is empty calendar for Japan but later today Fed chair Yellen testimony will provide further direction to the parity. RSS feed
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Asian Stocks Steady, Sentiment Bleak Before Brexit
Asian stocks were steady as anxious investors await the results of the United Kingdom's EU referendum. Fed Reserve Chair Janet Yellen's cautious comments on possible rate hikes also toned down the mood in financial market.
MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.1% while Japan's Nikkei dropped 0.7%. U.S. S&P Index rose 0.27% but was still under the 11-month high reached earlier this June. The Pound jumped as high as $1.4788 on Tuesday but slid back to $1.4667 during early Asian Trade. The Euro also dropped to $1.1250 compared to this week's peak of $1.1383 on Monday.
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Fxwirepro: Eur/gbp slips Below 78.6% Fib As Gbp Remains Bid on Bremain Sentiment
According to the latest poll, via Number Cruncher Politics, the Remain camp continues on the lead at 46%(+3 from previous) vs Leave 44% (-1 from previous), with undecided at 10 (-2 from previous).
Overnight, the latest polls via YouGov (online), showed Remain 51% and Leave 49%, while ComRes (phone) saw Remain 48% and Leave 42%.
The pound continues to be well bid in light of the most recent opinion polls' outcomes. EUR/GBP has slipped below the 78% Fibo level and is currently trading around 0.7645 levels.
Resistances on the upside align at 0.7656 (78.6% Fib of 0.7565 to 0.80 rally) ahead of 5-DMA at 0.77.
On the downside supports are seen at 0.7617 (Jan 21st low), 0.76 and then 0.7568 (200-DMA). Market sentiment could be volatile in the lead up to the vote and recent moves on currency markets remain vulnerable to swings/reversals.
Recommendation: Book partial profits, tighten trailing stops to 0.7656, target 0.7620/ 0.76
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