Forex News (from InstaForex) - page 154

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Australia Inflation Gains 0.5% On Quarter In Q4

Consumer prices in Australia advanced 0.5 percent on quarter in the fourth quarter of 2016, the Australian Bureau of Statistics said on Wednesday.

That was beneath expectations for 0.7 percent, which would have been unchanged from the previous three months.

The most significant price rises in Q4 were tobacco (+7.4 percent), automotive fuel (+6.7 percent) and restaurant meals (+1.1 percent).

These rises were partially offset by falls in furnishings, household equipment and services (-0.8 percent) and communication (-0.8 percent).

Vegetables rose 2.5 percent in Q4 as adverse weather conditions in major growing areas affected supply for particular vegetables (potatoes, capsicums, broccoli and cauliflower). Offsetting these rises are price falls for salad vegetables, tomatoes, lettuce and celery.

The most significant offsetting price falls in Q4 were international holiday travel and accommodation (-2.6 percent), accessories (-5.1 percent) and waters, soft drinks and juices (-3.2 percent).

On a yearly basis, inflation gained 1.5 percent -0 again shy of forecasts for 1.6 percent but up from 1.3 percent in the three months prior.

The Reserve Bank of Australia's trimmed mean was up 0.4 percent on quarter and 1.6 percent on year, while the weighted median gained 0.4 percent on month and 1.5 percent on year.

Also on Wednesday, Westpac Bank said that its leading economic indicator for the Australian economy jumped in December, rising 0.44 percent last month.

That follows the upwardly revised 0.03 percent gain in November (originally 0.02 percent).

The six-month growth rate climbed from flat in November to 1.28 percent in December; in all, the index has been above trend in five straight months.

News are provided byInstaForex.

 

Dollar, U.S. Yields Higher Amid Uncertainty on Trump?s Protectionist Stance

The dollar held gains as Treasury yields rebounded, lifting the greenback from recent lows against the yen and euro amid unease regarding U.S. President Donald Trump's protectionist stance. The dollar index dropped as low as 99.922 on Tuesday, as the initial enthusiasm tempered by Trump's inaugural speech from the previous week was pointing towards trade protectionism. The index was last at 100.270.

The U.S. currency was 0.1 percent higher, it had added nearly one percent the day earlier, jumping from 112.520, its lowest since late November. The euro was steady at $1.0730. The common currency has shed nearly 0.3 percent overnight, retreating from a near seven-week peak of $1.0755. The pound was 0.1 percent higher. It had weakened to as low as $1.2420 overnight before rebounding after the British Supreme Court ruled that the government will pass through parliament.

The Australian dollar climbed 0.2 percent at $0.7591. However, the dollar's overnight rise kept the Aussie away from a 10-week peak of $0.7609 touched the day earlier. U.S. Treasury yields rose as investors seized equities on better outlook on latest corporate profits, reducing their safe-haven demand for bonds triggered by Trump's protectionist trade stance.

News are provided byInstaForex.

 

Japan Producer Prices Rise 0.4% In December

Producer prices in Japan were up 0.4 percent on month in December, the Bank of Japan said on Thursday - topping forecasts for 0.3 percent, which would have been unchanged from the November reading.

On a monthly basis, producer prices added 0.1 percent for the second straight month.

For the fourth quarter of 2016, producer prices were up 0.4 percent on year and 0.2 percent on quarter. That followed the 0.3 percent yearly growth and the 0.2 percent quarterly gain in Q3.

For all of 2016, producer prices added 0.3 percent after gaining 1.1 percent in the previous year.

News are provided byInstaForex.

 

Strong Quarterly Results, Upbeat 2017 Forecast Boost Boeing Shares

Boeing Co. reported positive quarterly profit and operating cash and issued an optimistic outlook for the performance of the company in 2017 as it benefits from its aggressive cost-cutting measures, increasing productivity and President Donald Trump's pro-growth stance.

The company's stock surged almost 5% to $168.50 on Wednesday after the firm reported it is projecting to generate a record $10.75 billion in operating cash this 2017.

The total is higher compared to the record $10.5 billion in 2016 and is significantly higher than the $10.4 billion that analysts had projected for the current year.

Boeing projected core earnings of $9.10 to $9.30 per share this year, up from the $7.24 in 2016. It expects to deliver around 760-764 commercial carriers in 2017 and surpass its 748 deliveries in 2016.

After experiencing a slowdown in orders for new jetliners, Boeing has concentrated on streamlining plants to reduce costs and increase profits. The company also took advantage of the lower cost of parts for its 787 jet as the plane hit crucial production milestones, as it delivered its 500th 787 jet in December.

CEO Dennis Muilenburg said an increase in cost-savings and productivity was behind the company's strong performance and revenue guidance. He assured that the progress will not slow down in these aspects.

News are provided byInstaForex.

 

Australia Q4 Producer Prices Climb 0.5%

Final demand producer prices in Australia advanced 0.5 percent on quarter in the fourth quarter of 2016, the Australian Bureau of Statistics said on Friday.

That was in line with expectations and up from 0.3 percent in the third quarter.

On a yearly basis, final demand producer prices added 0.7 percent. That also matched expectations and was up from 0.5 percent in the three months prior.

Domestic prices were up 0.7 percent on quarter and 1.2 percent on year, while import prices fell 0.6 percent on quarter and 3.6 percent on year.

The gains were mainly due to rises in the prices received for building construction (+0.7 percent), petroleum refining and petroleum fuel manufacturing (+12.5 percent) and accommodation (+5.3 percent).

They were offset by falls in the prices received for electronic equipment manufacturing (-1.5 percent), professional and scientific equipment manufacturing (-2.1 percent) and other machinery and equipment manufacturing (-1.8 percent).

Intermediate demand producer prices were up 0.6 percent on quarter and 1.0 percent on year in Q4.

The gains were mainly due to rises in the prices received for petroleum refining and petroleum fuel manufacturing (+10.2 percent), coal mining (+53.3 percent) and 0il and gas extraction (+7.1 percent).

They were offset by falls in the prices received for basic polymer manufacturing (-6.1 percent), professional and scientific equipment manufacturing (-3.5 percent) and rental and hiring services (-0.7 percent).

Preliminary demand producer prices picked up 0.6 percent on quarter and 0.9 percent on year in the fourth quarter.

The gains were mainly due to rises in the prices received for petroleum refining and petroleum fuel manufacturing (+11.0 percent), coal mining (+53.4 percent) and oil and gas extraction (+6.7 percent).

They were offset by falls in the prices received for pharmaceutical and medicinal product manufacturing (-13.6 percent), professional and scientific equipment manufacturing (-5.9 percent) and basic polymer manufacturing (-6.0 percent).

Also on Friday, the bureau said that export prices in Australia surged 12.4 percent on quarter in the fourth quarter of 2016. That exceeded forecasts for 12.1 percent and was up sharply from 3.5 percent in the third quarter.

Import prices added 0.2 percent on quarter - beneath forecasts for 0.4 percent following the 1.0 percent contraction in the three months prior.

On a yearly basis, export prices jumped 12.4 percent, while import prices sank 4.6 percent.

News are provided byInstaForex.

 

Dollar Climbs as Focus on U.S. GDP

The dollar inched up and rebounded from a seven-week low on optimism regarding the U.S. economic outlook and corporate earnings, however the protectionist policies of U.S. President Donald Trump raised unease for global trade. The dollar index was last at 100.47. The index made a rebound overnight, after slipping to a seven-week low of 99.793.

U.S. equities and Treasury yields have increased in the past few weeks, driven by the upbeat U.S. economic outlook and Trump's indications of raised public spending, but concerns on potentially new barriers have added pressure to the dollar in the last two weeks. The U.S. currency is on course to weaken 0.2 percent against the basket of currencies of its trade-weighted rivals for the week. Investors are concerned about Trump's plans to build a U.S-Mexican border wall to prevent illegal immigration. The Mexican peso weakened more than 0.5 percent versus the dollar after reports of the border tax.

The dollar last fell 0.1 percent against the Japanese currency to 114.40 yen. The greenback rebounded overnight from a low of 113.045 to 114.860, climbing 1.1 percent. The euro was last at $1.0681 versus the dollar, after falling from the day's peak of $1.0766, a level near a seven-week peak.

News are provided byInstaForex.

 

Fxwirepro: Usd/thb Rejects Key Resistance at 35.33, Good to Sell on Rallies

USD/THB is currently trading around 35.25 marks.

It made intraday high at 35.32 and low at 35.25 marks.

Intraday bias remains bearish till the time pair holds key resistance at 35.33 marks.

On the top side key resistances are seen at 35.33, 35.41, 35.67, 35.74, 35.84, 35.93, 36.01, 36.08, 36.39 and 36.66 marks respectively.

Alternatively, a daily close below 35.29 will drag the parity down towards key supports around 35.18, 35.04, 34.83, 34.64, 34.51 and 34.20 marks respectively.

We prefer to take short position in USD/THB around 35.28, stop loss 35.41 and target of 35.04.

News are provided byInstaForex.

 

Dollar Edges Down on Flat U.S. Growth Data

The dollar edged down on Monday, retreating from a one-week peak against a basket of currencies as Treasury yields fell on data which showed that the U.S. expanded at a slower-than-expected pace. The greenback fell 0.35 percent at 114.660 against the Japanese yen after climbing to 115.380, its highest since Jan 20.

The latest data released showed that U.S. gross domestic product expanded at a 1.9 percent annualised pace in the last three months of 2016, in comparison to a 3.5 percent rate in the third quarter. The dollar index against a basket of major currencies declined to a seven-week low of 99.793 before climbing to a one-week peak of 100.820 a day after. The index was last 0.2 percent off at 100.350. Focus on the market is between U.S. President Donald Trump's protectionist angle, perceived as negative for the dollar, and prospects of fiscal stimulus under the new administration, seen as positive for the greenback.

The euro strengthened and was last 0.3 percent higher at $1.0733. The pound rose 0.3 percent at $1.2593 versus a relatively weaker dollar while the Australian dollar climbed 0.1 percent at $0.7555.

News are provided byInstaForex.

 

Australia Business Conditions Index Jumps In December - NAB

Business conditions in Australia improved sharply in December, the latest survey from National Australia Bank showed on Tuesday with an index score of +11.

That's up from +5 in November, and it moves further into positive territory.

The index for business confidence also improved, moving up to +6 from +5 a month earlier.

News are provided byInstaForex.

 

Fitbit Shares Sink Following Unsatisfactory Quarterly Results

Shares of Fitbit tumbled by as much as 18% after it announced trimming its workforce and it reported lower-than-anticipated financial results during the fourth quarter.

The stock managed to reverse some of its losses, but still closed the session almost 16% down.

In a release issued on Monday, the wearable fitness device maker said its layoffs will impact 110 people within its workforce across different divisions which makes up around 6% of the company's total global labor force. The expenses of the reorganization are anticipated to cost around $4 million, which will be included during the first quarter of 2017.

The firm added that it projects to post 6.5 million sales of devices and revenue during the Q4 of 2016 to be within the range of $572 million- $580 million, a steep drop from the company's initially issued guidance range of $725 million-$750 million.

Revenue growth for the previous business year is seen to be around 17% from the prior projected expansion of 25% to 26%.

News are provided byInstaForex.

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