Thread: Forex News from InstaForex

NZ Dollar Gains Against Most Majors



The New Zealand dollar firmed modestly against most major rivals in the Asian session on Monday.


The kiwi is trading at 0.7821 against the greenback, 77.64 against the yen and 1.6712 against the euro, compared to last week's close of 0.7787, 77.27 and 1.6826, respectively. On the upside, the kiwi may find resistance around 0.79 against the greenback, 78.5 against the yen and 1.665 against the euro.

News are provided by InstaForex.

NZ Dollar Hits 4-day High Against U.S. Dollar

The New Zealand dollar resumed its early uptrend against the U.S. dollar in Asia on Tuesday.


The kiwi approached a 4-day high of 0.7838 against the greenback, compared to Monday's closing value of 0.7817. On the upside, the kiwi may find resistance around the 0.79 level.

News are provided by InstaForex.

Australia Westpac-MI Leading Index Remains Strong



A leading indicator of Australia's economic activity improved in May, while staying above its long-term trend for a sixth consecutive month, a report from Westpac and the Melbourne Institute revealed Wednesday.

The annualized growth rate of the Westpac-MI leading index, that indicates the likely pace of economic activity three to nine months into the future, was 4.9 percent in May, above its long term trend of 3 percent.

"With the improvement in the Index being narrowly based around the quarterly components of corporate profits and productivity with little contribution from the cyclical components, we feel justified in qualifying the markedly optimistic reads from the Index over the last few months," Westpac Chief Economist Bill Evans said.

The annualized growth rate of the coincident index, which gives a pulse of current activity, was 2.7 percent, slightly below its long term trend of 2.9 percent.

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Indian Rupee Declines To 2-day Low Against U.S. Dollar



The Indian rupee drifted lower against the U.S. dollar in early deals on Thursday.

The rupee touched a 2-day low of 59.66 against the greenback, compared to Wednesday's closing quote of 59.3305. The rupee may eye support around the 60.00 level.

News are provided by InstaForex.

Research: Weekly Review of Global Fund Flows



Quotes from Standard Chartered:


-DM equity funds see healthy inflows; bond funds continue to see outflows
-EM bonds funds - both LC and HC - continue to see outflows
-The momentum signal on the EMBIG Div. has turned to indicate a 'long' position

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Research: Singapore June Cpi Inflation Likely remained Low




Quotes from Standard Chartered:

Singapore will release June inflation data on 23 July. We forecast headline CPI inflation to have remained benign, at 1.5% y/y, versus 1.6% in May. This translates into a 0.2% m/m seasonally adjusted increase.

-The high base effect likely depressed overall price increases. Vehicle permit prices (weighted by successful bids) fell by c.14% y/y in May, and probably kept overall transport costs negative on a y/y basis. Housing costs should also have benefitted from the property-cooling measures and lower utility costs.

-While price pressures remain low for now, the recent increase in vehicle permit prices and global food prices may limit further downside to inflation. The UN Food Price Index has been turning positive on a y/y basis since April, while vehicle permit prices have risen m/m since their multi-month lows in April.

News are provided by InstaForex.

Indian Rupee Rises Against U.S. Dollar



The Indian rupee edged up against the U.S. dollar in early deals on Tuesday, as regional stocks joined Asian rally on easing concerns of Fed tapering bond purchase program.

Sentiment lifted as unexpected drop in U.S. existing home sales in June boosted speculation the Federal Reserve will remain accommodative by holding rates at its September policy meeting.

The rupee advanced to 59.535 against the greenback, up from Monday's closing value of 59.7255. Further uptrend will see the rupee finding resistance around the 59.00 level.

News are provided by InstaForex.

Chinese Yuan Advances To 1-week High Against U.S. Dollar



The Chinese yuan firmed against the U.S. dollar in the Asian session on Wednesday.

The yuan spiked up to a 1-week high of 6.1358 against the greenback, compared to Tuesday's closing quote of 6.1375. On the upside, the yuan may find resistance around the 6.12 level.

The People's Bank of China set today's central parity rate for the yuan at 6.1695 per dollar, compared to yesterday's reference rate of 6.1702. The Chinese central bank sets the central parity rate every morning and allows the currency to fluctuate up to 1% from the level.

News are provided by InstaForex.

U.S. Dollar Edges Down Against Canadian Dollar

The U.S. dollar declined against the Canadian currency in late Asian trading on Thursday. The greenback is worth 1.0299 against the loonie, nearing Wednesday's multi-week low of 1.0262. The next support for the greenback lies around the 1.02 level. News are provided by InstaForex.

Chart Focus: Aud/nzd Reaches Lower Channel Support



Source: Thomson Reuters
Persistent decline reaches lower channel support at circa 1.14
Buyers evident around the lows - daily candle shows long wick
Eager bears advised to wait for corrective rally to resistance to short
Only a clear channel breakout / above 50 day MA changes bearish outlook

News are provided by InstaForex.