Forex News (from InstaForex) - page 136
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Stocks Ended Slightly Changed Ahead of Job?s Report
Major U.S. stock indexes rose and then closed slightly changed prior to the job's report. The August job's data will be a significant indicator for the Federal Reserve official's decision regarding the interest-rate hike.
The decline of oil prices have pulled down energy shares, however stocks increased near the closing of the session.The S&P 500's energy sector slipped by 0.3 percent and shares of Chevron dropped to 37 cents or 0.3 percent to $100.21. The S&P 500's financial shares was down by 0.4 percent. The broader S&P 500 slightly changed by declining 0.004 percent to 2170.86. The Nasdaq Composite increased by 0.3 percent to 5227.21 while shares of technology jumped. The Dow Jones Industrial Average climbed by 0.1 percent to 18419.30. In the blue-chip index, Wal-Mart Stores drove gains surging by two percent to 72.84.
The Institute for Supply Management has announced that the manufacturing activity index was down to 49.4 in August.
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Fxwirepro: Usd/krw Remains Well supported Below Key Resistance at 1,122, Consistent Break Above Targets 1,142
USD/KRW is currently trading around 1,117 levels.
It made intraday high at 1,119 and low at 1,115 marks.
Intraday bias remains neutral till the time pair holds key resistance at 1,122 levels.
A daily close above 1,122 will drag the parity higher towards key resistances at 1,138, 1,142, 1,152, 1,162, 1,176, 1,182, 1,196, 1,201, 1,209 (20D EMA) and 1,220 (March 03, 2016 high) marks respectively.
On the other side, a sustained close below 1,107 will test key supports at 1,092/1,078/1,063/1044 levels respectively.
In addition, South Korea?s Kospi was trading around 0.84 percent higher at 2,055.32 points.
Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.
News are provided byInstaForex.
Dollar Strengthens after U.S. Payroll Data
The U.S. dollar strengthens following the disappointing U.S. employment growth figures for August which only slightly affected the perception of investors regarding the Federal Reserve's likelihood of increasing the interest rates in the following months. Nonfarm payrolls increased by 151,000 jobs in August, according to the U.S. Labor Department.
Average hourly wage earnings increased by 0.1 percent, which falls behind the 0.2 percent growth of market expectations. As the increase of the average payroll during the last three months tops 200,000, investors have then concluded that the jobs report would not be a severe impact to the Fed's plan to lift interest rates. U.S. fed funds futures price is at a 20 percent likelihood of a rate hike this September and a 60 percent odds by the end of the year.
The dollar's index against a basket of six major currencies .DXY=USD was buoyed as it immediately gained from its one-week low of 95.189 following the payroll data.
News are provided byInstaForex.
Australia Q2 Current Account Deficit A$15.535 Billion
Australia had a seasonally adjusted current account deficit of A$15.535 billion in the second quarter of 2016, the Australian Bureau of Statistics said on Tuesday.
That beat forecasts for a shortfall of A$20.0 billion following the upwardly revised A$14.9 billion in the previous three months (originally a deficit of A$20.8 billion).
New exports of GDP for the quarter was -0.2 percent - shy of expectations for a flat reading following the 1.1 percent increase in the three months prior.
The balance on goods and services was a surplus of A$10.797 billion, a decrease of A$999 million (8 percent) on the Q1 surplus of A$11.796 billion.
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Japanese Bond Yields Edge Back Toward Positive Returns
Yields on the 30-year benchmark government bond were driven higher to their highest level since March by an increased sell-off in long-dated bonds on Monday. Meanwhile, 10-year Japanese government bond moved closer to positive territory once more.
JGB yields have been rising since the Bank of Japan announced it would conduct a comprehensive assessment of its massive and aggressive monetary policy that was adopted in 2013. Yields have also been rising on bets that the central bank will rein its buying of longer-dated government debt. Yields of 30-year Japanese bond rose for the seventh day in a row to a five-month peak of 0.53% on Monday.
Yield on the 10-year Japanese bond, albeit muted, rose for the fourth straight day by 1 basis point to - 0.02% on Monday, rising close to positive yield territory.
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Fxwirepro: Usd/jpy Recovery Not Convincing, Holds Above 20-Dma Support, But Bias Still Lower
USD/JPY managed to erase losses from lows of 101.20, but upside seems to be loosing traction.
Likelihood of another BoJ disappointment at the Sept 21 meet is rising, putting upside risk to the near-term path for JPY.
Technicals still paint a bearish picture, indicators point south. The major is managing to hold above 20-DMA support currently at 101.52, but momentum signals have turned, and the RSI is now below 50.
USDJPY is attempting a clear break below the 20-DMA, which then see scope for test of 98.90 (trendline).
Major support levels - 101.52 (20-DMA), 101, 100.75 (Aug 3 low), 101.41 (23.6% Fib), 99.54 (Aug 16 low)
Major resistance levels - 102, 102.12 (Sept 7 high), 102.58 (38.2% Fib), 102.62 (50-DMA)
Recommendation: Good to short decisive break below 20-DMA, target: 101/ 100.75/ 99.55/ 99
News are provided byInstaForex.
Wall Street Slightly Changed as Investors Assess U.S. Interest Rate Outlook
U.S. stocks closed slightly changed, however the Nasdaq extended gains, while investors continue to assess the outlook of U.S. interest rates. The Fed has stated in its Beige Book report of anecdotal information that the economy of the U.S. has expanded at a subdued rate during July and August.
The Dow Jones Industrial Average decreased by 0.06 percent, the S&P 500 decreased by 0.02 percent while the Nasdaq Composite gained by 0.15 percent, a record high close. Unsatisfactory predictions from Sprouts Farmers Markets pulled down grocers. Shares of Sprouts dropped by 13.7 percent at $19.68, shares of Whole Foods edged down by 5.3 percent to $29.08 while shares of Kroger fell by 4.1 percent to $31.32. Apple shares increased by 0.6 percent at $108.36. Chipotle Mexican Grill has increased by 5.9 percent.
U.S. airline stocks rose following Delta Air's report that sales trends have improved and Southwest has stated it would slow its rapid growth of flights in 2017. Stocks of Delta increased by 5.6 percent and Southwest rose by 4.7 percent.
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Australia Home Loans Slide 4.2% In July
The total number of home loans in Australia was down a seasonally adjusted 4.2 percent on month in July, the Australian Bureau of Statistics said on Friday - standing at 55,010.
That missed forecasts for a decline of 1.5 percent following the 1.2 percent increase in June.
Investment lending added 0.5 percent to A$11.842 billion, slowing from 3.2 percent in the previous month.
The value of loans slipped 3.1 percent to A$19.946 billion after rising 1.8 percent a month earlier.
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Gold Declines as Dollar Firms
Gold prices dropped as the U.S. dollar firms while interest rates were left unchanged by the European Central Bank. The ECB's decision started a selling in government bonds and an increase in yields, that has placed pressure on prices of gold, according to BMO Capital Market's Tai Wong.
On the Comex division of the New York Mercantile Exchange, gold for December delivery settled down by 0.6 percent at $1,341.60 per troy ounce. The decline indicated the precious metal's second successive day of losses.
The WSJ Dollar Index increased by 0.3 percent at 86.13.
News are provided byInstaForex.
China Industrial Production Expands 6.3% In August
Industrial production in China climbed 6.3 percent on year in August, the National Bureau of Statistics said on Tuesday - beating forecasts for a gain of 6.2 percent and up from 6.0 percent in July.
On a monthly basis, output expanded 0.5 percent.
The bureau also said that retail sales advanced an annual 10.6 percent - again exceeding expectations for 10.2 percent, which would have been unchanged from the previous month.
Fixed asset investment gained 8.1 percent on year, beating forecasts for 7/9 percent and unchanged from the July reading.
News are provided byInstaForex.