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Dunkin? Brands Shares Drop on Weak Growth, Soft Revenue
Dunkin' Brands shares dropped by as much as 4% in early trading on Thursday following the company's announcement of weaker-than-predicted sales growth and headwinds in international markets. But the stock regained ground and recovered its losses and closed at a modestly lower level.
Same-store sales at overseas locations of the company's Baskin-Robbins and Dunkin' Donut brands in the second quarter was down 6.6% and 3.1% respectively. The results are significantly lower than analysts' forecasts.
Sales in the U.S. stores also did not meet Wall Street approximations. Dunkin' announced same-store sales rise of 0.5%, lower than the expected 0.9% growth. Baskin-Robbins rose by 0.6% but was anticipated to rise 3.4% by Wall Street.
But Dunkin' Brands income topped Wall Street predictions, reporting profit of 57 cents per share compared to an estimate of 56 cents per share, with its revenue at $216.3 million. Analysts predicted an average revenue of $220.2 million.
News are provided byInstaForex.
Fxwirepro: Singapore Dollar falls in Early Hours of Asia ahead of Cpi Data
USD/SGD is currently trading around 1.3613 marks.
It made intraday high at 1.3619 and low at 1.3573 levels. Intraday bias remains bullish till the time pair holds key support at 1.3539 marks. A daily close below 1.3539 will drag the parity down towards key supports at 1.3496/1.3420/1.3357 (April 20, 2016 low)/1.3318/1.3302/ 1.3271 levels.
Alternatively, a sustained close above 1.3627 will tests key resistances at 1.3646, 1.3799, 1.3836, 1.3851(March 16, 2016 high), 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover).
Important to note here that, 20D, 30D and 55D EMA heads down and confirm the bearish trend. Current upside movement is short term trend correction only.
Singapore will release CPI data at 0500 GMT.
We prefer to take long position in USD/SGD around 1.3602, stop loss 1.3539 and target 1.3740.
News are provided byInstaForex.
Dollar Extends Two-Week Advance Versus Yen
The dollar continued its two-week rally versus the yen amid expectations that the Federal Reserve will keep rates unchanged while the Bank of Japan will further monetary stimulus at their respective policy meeting this week.
The dollar gained 0.3% to 106.43 yen as of 9:18 am in Tokyo trading. It advanced 1.2% last week, extending a 4.3% gain in the previous period. The greenback hit a six-week high of 107.49 yen on Thursday.
Economists in a Bloomberg survey are expecting the BoJ to ease this week. Meanwhile, analysts are expecting the Fed to keep rates unchanged but to be more positive about the US economic outlook given the suppressed impact from Brexit and the improvement of the US economic data.
News are provided byInstaForex.
Fxwirepro: Yen Gains in Early Hours of Asia on the Back of Higher Than expected Sppi Data
USD/JPY is currently trading around 104.91 marks.
It made intra-day high at 105.89 and low at 104.76 levels. Intraday bias remains slightly bearish for the moment.
A daily close above 106.12 will take the parity higher towards key resistances around 106.72, 107.49, 107.90 and 109.13 levels respectively.
On the other side, a sustained break below 105.42 will drag the parity down towards key supports at 104.62, 103.97, 102.45, 101.47, 100.59, 99.99, 99.27 and 98.78 levels respectively.
Today Japan released SPPI data with positive numbers at 0.2% m/m vs 0.1% m/m consensus forecast.
It's a leading indicator of consumer inflation - when corporations pay more for services the higher costs are usually passed on to the consumer.
News are provided byInstaForex.
Asian Stocks Stumble Ahead of Central Bank Meetings
Asian stocks fell after U.S. equities retreated from record highs ahead of policy meetings by the Bank of Japan and by the Federal Reserve this week.
The MSCI Asia Pacific index was down 0.2% to 133.90 as of 9:04 am in Tokyo trading. Japan's Topix index slid 0.7%, falling for a third consecutive day as the yen exchanged at 105.57 versus the dollar. South Korea's Kospi Index also dropped 0.2%. Futures on the FTSE China A50 Index were minimally changed in the latest trading, while the Hang Seng Index dropped lost 0.7%.
New Zealand's S&P/NZX 50 Index retreated by 0.1% following a record high on Monday while Australia's S&P/ASX 200 Index was down 0.2%.
The BOJ is highly expected to further stimulus after the policy meeting on July 29, while the Fed is predicted to keep interest rates unchanged on Wednesday, according to a Bloomberg poll of analysts.
News are provided byInstaForex.
Fxwirepro: Aussie Gains Against Major Peers ahead of Cpi Data
AUD/NZD is currently trading around 1.0654 marks.
Pair made intraday high at 1.0656 and low at 1.0623 marks. Intraday bias remains bullish till the time pair holds key support at 1.0610 levels.
On the top side, a sustained close above 1.0727 will drag the parity higher towards 1.0823/1.0976 (January 2016 high) /1.1062 (30D EMA)/1.1123/1.1298/1.1317 levels respectively.
Alternatively, a sustained break below 1.0610 mark will take the parity down towards key supports around 1.0560, 1.0420, 1.0315(May 05, 2015 low), 1.0261 and 1.0109 marks respectively.
Important to note here that in a daily chart, 20D, 30D and 55D EMA heads down and confirms the bearish trend. Current upside movement is short term trend correction only.
Australia will release CPI data at 0130 GMT. Markets anticipate a 0.4% Q/Q rise in the CPI for the June quarter vs -0.2% Q/Q previous release.
News are provided byInstaForex.
witter Shares Plunge on Weak Outlook, Slowing Revenue Growth
Twitter announced that its revenue was up by only 20% to $602 million in the second quarter of the fiscal year, its smallest recorded gain and eight-consecutive period of contracting growth. The social-media company further cautioned that demand from advertisers that serve as its primary source of revenue, is weaker than predicted, dimming its outlook for the third quarter.
Twitter posted a net loss of $107.2 million or 15 cents a share against the loss of $136.7 million or 21 cents a share a year earlier. Twitter's shares plummeted by 11% to $16.39 in after-hours trading following the report, erasing gains from the prior month.
In a statement to shareholders, the social media firm has acknowledged that it is struggling to compete with other social media platforms, particularly in the advertising offerings. Twitter's CFO Anthony Noto stated in a interview that the company will venture into other areas of advertising budgets to increase demand and eventually boost revenues.
News are provided byInstaForex.
Fxwirepro: Usd/sgd Hovers Around 1.3500 Mark, Sustain a Break Below Targets 1.3420
USD/SGD is currently trading around 1.3496 marks.
It made intraday high at 1.3536 and low at 1.3478 levels.
Intraday bias remains bearish till the time pair holds key resistance at 1.3537 marks.
A daily close below 1.3496 will drag the parity down towards key supports at 1.3420/1.3357 (April 20, 2016 low)/1.3318/1.3302/ 1.3271 levels.
Alternatively, a sustained close above 1.3537 will tests key resistances at 1.3638, 1.3799, 1.3836, 1.3851(March 16, 2016 high), 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover).
Important to note here that, 20D, 30D and 55D EMA heads down and confirm the bearish trend.
We prefer to take short position in USD/SGD only below 1.3480, stop loss 1.3537 and target 1.3420/1.3357.
News are provided byInstaForex.
Facebook Earnings Exceed Expectations
Facebook reported earnings of $2 billion or 1.5 billion pounds in the second quarter of the year, up from $719 million in the same period last year.
Analysts had expected revenue of $5.8 billion, but the social media giant has surpassed even those high forecasts, posting $6.4 billion in revenue. Revenue has surged in all geographic zones, rising in Asia and Europe at 19% and 21% respectively.
Mobile advertising, which has been highly advocated by Facebook to businesses, composed 84% of Facebook's advertising revenue in the second quarter rising from 76% last year. The firm profited from an inflow of advertising money being redirected from television towards digital platforms. Facebook's number of monthly-active-users, an important gauge for advertisers, jumped by 15% to 1.71 billion as of the end of June 2016.
Shares of the company jumped 7% in after-hours trading.
News are provided byInstaForex.
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